Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2019shares | |
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 | 3,859,055,395 |
Document type | 20-F |
Document period end date | Dec. 31, 2019 |
Amendment flag | false |
Document fiscal year focus | 2019 |
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, 2019 |
Amendment flag | false |
Document fiscal year focus | 2019 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Income Statement [Line Items] | ||||
Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [1],[2] | $ 10,684 | $ 10,100 | $ 10,422 |
Interest expense from financial instruments measured at amortized cost | [1],[2] | (7,194) | (6,391) | (5,404) |
Interest income from financial instruments measured at fair value through profit or loss | [3] | 4,714 | 4,660 | 2,281 |
Interest expense from financial instruments measured at fair value through profit or loss | [3] | (3,703) | (3,322) | (1,228) |
Net interest income | [1],[2],[4],[5] | 4,501 | 5,048 | 6,070 |
Other net income from financial instruments measured at fair value through profit or loss | 6,842 | 6,960 | 5,637 | |
Credit loss (expense) / recovery | [4] | (78) | (118) | (131) |
Fee and commission income | [6] | 19,110 | 19,598 | 19,362 |
Fee and commission expense | (1,696) | (1,703) | (1,840) | |
Net fee and commission income | 17,413 | 17,895 | 17,522 | |
Other income | 212 | 428 | 524 | |
Total operating income | [4] | 28,889 | 30,213 | 29,622 |
Personnel expenses | [4] | 16,084 | 16,132 | 16,199 |
General and administrative expenses | [4] | 5,288 | 6,797 | 6,949 |
Depreciation and impairment of property, equipment and software | [4] | 1,765 | 1,228 | 1,053 |
Amortization and impairment of goodwill and intangible assets | [4] | 175 | 65 | 71 |
Total operating expenses | [4] | 23,312 | 24,222 | 24,272 |
Operating profit / (loss) before tax | [4] | 5,577 | 5,991 | 5,351 |
Tax expense / (benefit) | [4] | 1,267 | 1,468 | 4,305 |
Net profit / (loss) | [4] | 4,310 | 4,522 | 1,046 |
Net profit / (loss) attributable to non-controlling interests | 6 | 7 | 77 | |
Net profit / (loss) attributable to shareholders | $ 4,304 | $ 4,516 | $ 969 | |
Earnings per share | ||||
Basic | $ 1.17 | $ 1.21 | $ 0.26 | |
Diluted | $ 1.14 | $ 1.18 | $ 0.25 | |
UBS AG | ||||
Income Statement [Line Items] | ||||
Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [7],[8] | $ 10,703 | $ 10,121 | $ 10,437 |
Interest expense from financial instruments measured at amortized cost | [7],[8] | (7,303) | (6,494) | (5,468) |
Interest income from financial instruments measured at fair value through profit or loss | [3] | 4,718 | 4,666 | 2,281 |
Interest expense from financial instruments measured at fair value through profit or loss | [3] | (3,703) | (3,322) | (1,228) |
Net interest income | [4],[7],[8],[9],[10] | 4,415 | 4,971 | 6,021 |
Other net income from financial instruments measured at fair value through profit or loss | 6,833 | 6,953 | 5,640 | |
Credit loss (expense) / recovery | [4],[9] | (78) | (117) | (131) |
Fee and commission income | [9],[11] | 19,156 | 19,632 | 19,390 |
Fee and commission expense | [9] | (1,696) | (1,703) | (1,840) |
Net fee and commission income | [9] | 17,460 | 17,930 | 17,550 |
Other income | [9] | 677 | 905 | 965 |
Total operating income | [4],[9] | 29,307 | 30,642 | 30,044 |
Personnel expenses | [4] | 13,801 | 13,992 | 14,952 |
General and administrative expenses | [4] | 8,586 | 10,075 | 9,001 |
Depreciation and impairment of property, equipment and software | [4] | 1,576 | 1,052 | 945 |
Amortization and impairment of goodwill and intangible assets | [4] | 175 | 65 | 71 |
Total operating expenses | [4] | 24,138 | 25,184 | 24,969 |
Operating profit / (loss) before tax | [4] | 5,169 | 5,458 | 5,076 |
Tax expense / (benefit) | [4] | 1,198 | 1,345 | 4,242 |
Net profit / (loss) | [4] | 3,971 | 4,113 | 834 |
Net profit / (loss) attributable to preferred noteholders | 0 | 0 | 73 | |
Net profit / (loss) attributable to non-controlling interests | 6 | 7 | 4 | |
Net profit / (loss) attributable to shareholders | $ 3,965 | $ 4,107 | $ 758 | |
[1] | Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[2] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[3] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[4] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[5] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. | |||
[6] | For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,355 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 94 million for Corporate Center (for the year ended 31 December 2018: 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). | |||
[7] | Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[8] | Effective 1 January 2019, UBS AG refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[9] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[10] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. | |||
[11] | For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,397 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 98 million for Corporate Center (for the year ended 31 December 2018: 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). |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | [1] | $ 4,310 | $ 4,522 | $ 1,046 |
Net profit / (loss) attributable to shareholders | 4,304 | 4,516 | 969 | |
Net profit / (loss) attributable to non-controlling interests | 6 | 7 | 77 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | (4) | (1) | 250 | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | (146) | (220) | 286 | |
Income tax relating to defined benefit plans | (41) | 276 | 11 | |
Subtotal defined benefit plans, net of tax | (186) | 56 | 296 | |
Own credit on financial liabilities designated at fair value | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | (392) | 509 | (317) | |
Total other comprehensive income | 781 | (292) | 1,068 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 1,363 | (855) | 838 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (582) | 563 | 229 | |
Total comprehensive income | 5,091 | 4,231 | 2,113 | |
Comprehensive income attributable to shareholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 4,304 | 4,516 | 969 | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | 200 | (725) | 1,595 | |
Effective portion of changes in fair value of hedging instruments designated as net investment hedges, before tax | (134) | 181 | (55) | |
Foreign currency translation differences on foreign operations reclassified to the income statement | 52 | 3 | 32 | |
Effective portion of changes in fair value of hedging instruments designated as net investment hedge reclassified to the income statement | (14) | 2 | (6) | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | 0 | (2) | (2) | |
Subtotal foreign currency translation, net of tax | 104 | (541) | 1,564 | |
Financial assets measured at fair value through other comprehensive income | ||||
Net unrealized gains / (losses), before tax | 189 | (56) | 96 | |
Impairment charges reclassified to the income statement from equity | 0 | 0 | 15 | |
Realized gains reclassified to the income statement from equity | (33) | 0 | (209) | |
Realized losses reclassified to the income statement from equity | 2 | 0 | 14 | |
Income tax relating to net unrealized gains / (losses) | (41) | 12 | (6) | |
Subtotal financial assets measured at fair value through other comprehensive income, net of tax | 117 | (45) | (91) | |
Cash flow hedges of interest rate risk | ||||
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | 1,571 | (42) | 45 | |
Net (gains) / losses reclassified to the income statement from equity | (175) | (294) | (843) | |
Income tax related to cash flow hedges | (253) | 67 | 163 | |
Subtotal cash flow hedges, net of tax | 1,143 | (269) | (635) | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | (146) | (220) | 286 | |
Income tax relating to defined benefit plans | (41) | 276 | 11 | |
Subtotal defined benefit plans, net of tax | (186) | 56 | 296 | |
Own credit on financial liabilities designated at fair value | ||||
Gains / (losses) from own credit on financial liabilities designated at fair value, before tax | (400) | 517 | (315) | |
Income tax relating to own credit on financial liabilities designated at fair value | 8 | (8) | (2) | |
Subtotal own credit on financial liabilities designated at fair value, net of tax | (392) | 509 | (317) | |
Total other comprehensive income | 785 | (290) | 818 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 1,363 | (855) | 838 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (578) | 565 | (20) | |
Total comprehensive income | 5,089 | 4,225 | 1,787 | |
Comprehensive income attributable to non-controlling interests | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 6 | 7 | 77 | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | (4) | (1) | 250 | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | 0 | 0 | 0 | |
Subtotal foreign currency translation, net of tax | (4) | (1) | 250 | |
Own credit on financial liabilities designated at fair value | ||||
Total other comprehensive income | (4) | (1) | 250 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (4) | (1) | 250 | |
Total comprehensive income | 2 | 5 | 326 | |
UBS AG | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | [1] | 3,971 | 4,113 | 834 |
Net profit / (loss) attributable to shareholders | 3,965 | 4,107 | 758 | |
Net profit / (loss) attributable to preferred noteholders | 0 | 0 | 73 | |
Net profit / (loss) attributable to non-controlling interests | 6 | 7 | 4 | |
Foreign currency translation | ||||
Subtotal foreign currency translation, net of tax | (4) | (1) | 250 | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | (129) | (70) | 308 | |
Income tax relating to defined benefit plans | (41) | 245 | 6 | |
Subtotal defined benefit plans, net of tax | (170) | 175 | 314 | |
Own credit on financial liabilities designated at fair value | ||||
Subtotal own credit on financial liabilities designated at fair value, net of tax | (392) | 509 | (317) | |
Total other comprehensive income | 785 | (147) | 1,044 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 1,351 | (829) | 797 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (566) | 682 | 247 | |
Total comprehensive income | 4,756 | 3,967 | 1,878 | |
UBS AG | Comprehensive income attributable to shareholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 3,965 | 4,107 | 758 | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | 199 | (701) | 1,553 | |
Effective portion of changes in fair value of hedging instruments designated as net investment hedges, before tax | (144) | 181 | (55) | |
Foreign currency translation differences on foreign operations reclassified to the income statement | 52 | 4 | 32 | |
Effective portion of changes in fair value of hedging instruments designated as net investment hedge reclassified to the income statement | (14) | 2 | (6) | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | (1) | (2) | (2) | |
Subtotal foreign currency translation, net of tax | 92 | (515) | 1,522 | |
Financial assets measured at fair value through other comprehensive income | ||||
Net unrealized gains / (losses), before tax | 189 | (56) | 96 | |
Impairment charges reclassified to the income statement from equity | 0 | 0 | 15 | |
Realized gains reclassified to the income statement from equity | (33) | 0 | (209) | |
Realized losses reclassified to the income statement from equity | 2 | 0 | 14 | |
Income tax relating to net unrealized gains / (losses) | (41) | 12 | (6) | |
Subtotal financial assets measured at fair value through other comprehensive income, net of tax | 117 | (45) | (91) | |
Cash flow hedges of interest rate risk | ||||
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | 1,571 | (42) | 45 | |
Net (gains) / losses reclassified to the income statement from equity | (175) | (294) | (843) | |
Income tax related to cash flow hedges | (253) | 67 | 163 | |
Subtotal cash flow hedges, net of tax | 1,143 | (269) | (635) | |
Defined benefit plans | ||||
Gains / (losses) on defined benefit plans, before tax | (129) | (70) | 308 | |
Income tax relating to defined benefit plans | (41) | 245 | 6 | |
Subtotal defined benefit plans, net of tax | (170) | 175 | 314 | |
Own credit on financial liabilities designated at fair value | ||||
Gains / (losses) from own credit on financial liabilities designated at fair value, before tax | (400) | 517 | (315) | |
Income tax relating to own credit on financial liabilities designated at fair value | 8 | (8) | (2) | |
Subtotal own credit on financial liabilities designated at fair value, net of tax | (392) | 509 | (317) | |
Total other comprehensive income | 789 | (145) | 794 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 1,351 | (829) | 797 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (562) | 684 | (3) | |
Total comprehensive income | 4,754 | 3,961 | 1,552 | |
UBS AG | Comprehensive income attributable to preferred noteholders | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 73 | |||
Foreign currency translation | ||||
Foreign currency translation movements, before tax | 0 | 0 | 247 | |
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 | 0 | 247 | |
Own credit on financial liabilities designated at fair value | ||||
Total other comprehensive income | 0 | 0 | 247 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 0 | 0 | 247 | |
Total comprehensive income | 0 | 0 | 320 | |
UBS AG | Comprehensive income attributable to non-controlling interests | ||||
Statement Of Comprehensive Income [Line Items] | ||||
Net profit / (loss) | 6 | 7 | 4 | |
Foreign currency translation | ||||
Foreign currency translation movements, before tax | (4) | (1) | 2 | |
Income tax relating to foreign currency translations, including the effect of net investment hedges | 0 | 0 | 0 | |
Subtotal foreign currency translation, net of tax | (4) | (1) | 2 | |
Own credit on financial liabilities designated at fair value | ||||
Total other comprehensive income | (4) | (1) | 2 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (4) | (1) | 2 | |
Total comprehensive income | $ 2 | $ 5 | $ 6 | |
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | ||
Assets | ||||
Cash and balances at central banks | $ 107,068 | $ 108,370 | ||
Loans and advances to banks | 12,447 | 16,868 | ||
Receivables from securities financing transactions | 84,245 | 95,349 | ||
Cash collateral receivables on derivative instruments | 23,289 | 23,602 | ||
Loans and advances to customers | 326,786 | 320,352 | ||
Other financial assets measured at amortized cost | 22,980 | 22,563 | ||
Total financial assets measured at amortized cost | 576,815 | 587,104 | ||
Financial assets at fair value held for trading | 127,514 | 104,370 | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 41,285 | 32,121 | ||
Derivative financial instruments | [1],[2],[3] | 121,841 | 126,210 | |
Brokerage receivables | 18,007 | 16,840 | ||
Financial assets at fair value not held for trading | [4] | 83,944 | 82,690 | |
Total financial assets measured at fair value through profit or loss | 351,307 | 330,110 | ||
Financial assets measured at fair value through other comprehensive income | [5] | 6,345 | 6,667 | |
Investments in associates | 1,051 | 1,099 | ||
Property, equipment and software before the adoption of IFRS 16 | 9,348 | |||
Property, equipment and software | 12,804 | 9,348 | ||
Goodwill and intangible assets | 6,469 | 6,647 | ||
Deferred tax assets | [6] | 9,537 | 10,105 | |
Other non-financial assets | 7,856 | 7,410 | ||
Total assets | [7] | 972,183 | 958,489 | |
Liabilities | ||||
Amounts due to banks | 6,570 | 10,962 | ||
Payables from securities financing transactions | 7,778 | 10,296 | ||
Cash collateral payables on derivative instruments | 31,415 | 28,906 | ||
Customer deposits | 448,284 | 419,838 | ||
Debt issued measured at amortized cost | [8] | 110,497 | 132,271 | |
Other financial liabilities measured at amortized cost | 9,712 | 6,885 | ||
Total financial liabilities measured at amortized cost | 614,256 | 609,158 | ||
Financial liabilities at fair value held for trading | [9],[10],[11] | 30,591 | 28,943 | |
Derivative financial instruments | [1],[2],[3],[9],[11] | 120,880 | 125,723 | |
Brokerage payables designated at fair value | 37,233 | 38,420 | ||
Debt issued designated at fair value | 66,809 | 57,031 | ||
Other financial liabilities designated at fair value | [12] | 35,940 | 33,594 | |
Total financial liabilities measured at fair value through profit or loss | 291,452 | 283,711 | ||
Provisions | 2,974 | 3,494 | ||
Other non-financial liabilities | 8,794 | 9,022 | ||
Total liabilities | 917,476 | 905,386 | ||
Equity | ||||
Share capital | 338 | 338 | ||
Share premium | 18,064 | 20,843 | ||
Treasury shares | (3,326) | (2,631) | ||
Retained earnings | 34,154 | 30,448 | ||
Other comprehensive income recognized directly in equity, net of tax | 5,303 | 3,930 | ||
Equity attributable to shareholders | 54,533 | 52,928 | ||
Equity attributable to non-controlling interests | 174 | 176 | ||
Total equity before the adoption of IFRIC 23 | 53,103 | |||
Total equity | 54,707 | 53,092 | ||
Total liabilities and equity | 972,183 | 958,489 | ||
UBS AG | ||||
Assets | ||||
Cash and balances at central banks | 107,068 | 108,370 | ||
Loans and advances to banks | 12,379 | 16,642 | ||
Receivables from securities financing transactions | 84,245 | 95,349 | ||
Cash collateral receivables on derivative instruments | 23,289 | 23,603 | ||
Loans and advances to customers | 327,992 | 321,482 | ||
Other financial assets measured at amortized cost | 23,012 | 22,637 | ||
Total financial assets measured at amortized cost | 577,985 | 588,084 | ||
Financial assets at fair value held for trading | 127,695 | 104,513 | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 41,285 | 32,121 | ||
Derivative financial instruments | [1],[3],[13] | 121,843 | 126,212 | |
Brokerage receivables | 18,007 | 16,840 | ||
Financial assets at fair value not held for trading | [4] | 83,636 | 82,387 | |
Total financial assets measured at fair value through profit or loss | 351,181 | 329,953 | ||
Financial assets measured at fair value through other comprehensive income | [5] | 6,345 | 6,667 | |
Investments in associates | 1,051 | 1,099 | ||
Property, equipment and software before the adoption of IFRS 16 | 8,479 | |||
Property, equipment and software | 11,826 | [14],[15] | 8,479 | |
Goodwill and intangible assets | 6,469 | 6,647 | ||
Deferred tax assets | [6] | 9,513 | 10,066 | |
Other non-financial assets | 7,547 | 7,062 | ||
Total assets | [7] | 971,916 | 958,055 | |
Liabilities | ||||
Amounts due to banks | 6,570 | 10,962 | ||
Payables from securities financing transactions | 7,778 | 10,296 | ||
Cash collateral payables on derivative instruments | 31,416 | 28,906 | ||
Customer deposits | 450,591 | 421,986 | ||
Funding from UBS Group AG and its subsidiaries | [16],[17],[18] | 47,866 | 41,202 | |
Debt issued measured at amortized cost | [8] | 62,835 | 91,245 | |
Other financial liabilities measured at amortized cost | 10,373 | 7,576 | ||
Total financial liabilities measured at amortized cost | 617,429 | 612,174 | ||
Financial liabilities at fair value held for trading | 30,591 | 28,949 | ||
Derivative financial instruments | [1],[3],[13] | 120,880 | 125,723 | |
Brokerage payables designated at fair value | 37,233 | 38,420 | ||
Debt issued designated at fair value | 66,592 | 57,031 | ||
Other financial liabilities designated at fair value | [12] | 36,157 | 33,594 | |
Total financial liabilities measured at fair value through profit or loss | 291,452 | 283,717 | ||
Provisions | 2,938 | 3,457 | ||
Other non-financial liabilities | 6,168 | 6,275 | ||
Total liabilities | 917,988 | 905,624 | ||
Equity | ||||
Share capital | 338 | 338 | ||
Share premium | 24,659 | 24,655 | ||
Retained earnings | 23,451 | 23,317 | ||
Other comprehensive income recognized directly in equity, net of tax | 5,306 | 3,946 | ||
Equity attributable to shareholders | 53,754 | 52,256 | ||
Equity attributable to non-controlling interests | 174 | 176 | ||
Total equity before the adoption of IFRIC 23 | 52,432 | |||
Total equity | 53,928 | 52,421 | ||
Total liabilities and equity | $ 971,916 | $ 958,055 | ||
[1] | Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in 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] | Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. | |||
[4] | Refer to Note 24c for more information on product type and fair value hierarchy categorization. | |||
[5] | 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. | |||
[6] | Less deferred tax liabilities as applicable. | |||
[7] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[8] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||
[9] | Carrying amount 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. | |||
[10] | Contractual maturities of financial liabilities at fair value held for trading are: USD 30 billion due within 1 month (2018: USD 28.3 billion), USD 0.6 billion due between 1 month and 1 year (2018: USD 0.6 billion) and USD 0 billion due between 1 and 5 years (2018: USD 0 billion). | |||
[11] | 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 | |||
[12] | As of 31 December 2019 and 31 December 2018, 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 amount. | |||
[13] | Financial assets and liabilities are presented net on the balance sheet if UBS AG 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. | |||
[14] | Consists of USD 744 million related to Internally generated software, USD 101 million related to Owned properties and USD 98 million related to Leasehold improvements. | |||
[15] | Reflects reclassifications to Properties held for sale. | |||
[16] | All balances in 2019 are against UBS Group AG as counterparty. Prior year balances were against UBS Group Funding (Switzerland) AG as counterparty | |||
[17] | Represents funding from UBS Group AG to UBS AG. | |||
[18] | UBS AG has also recognized funding from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
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 | 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 | 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, 2016 | $ 53,586 | $ 338 | $ 25,958 | $ (2,362) | $ 25,029 | $ 3,953 | [1] | $ 2,901 | $ 96 | $ 955 | $ 52,916 | $ 670 | $ 53,627 | $ 338 | $ 27,154 | $ 21,480 | $ 3,985 | [1] | $ 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 | [1] | 7 | 39 | 0 | 0 | (46) | 46 | [1] | 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] | 1,564 | (91) | (635) | 1,787 | 326 | 1,878 | 755 | 797 | [1] | 1,522 | (91) | (635) | 1,552 | 320 | 6 | |||||||||
of which: net profit / (loss) | 1,046 | [4] | 969 | 969 | 77 | 834 | [4] | 758 | 758 | 73 | 4 | |||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | 838 | 838 | [1] | 1,564 | (91) | (635) | 838 | 797 | 797 | [1] | 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 before the adoption of IFRS 9 and IFRS 15 at Dec. 31, 2017 | 52,554 | 338 | 23,598 | (2,210) | 25,932 | 4,838 | [1] | 4,466 | 13 | 360 | 52,495 | 59 | 52,046 | 338 | 24,633 | 22,189 | 4,828 | [1] | 4,455 | 13 | 360 | 51,987 | 0 | 59 | ||||
Balance before the adoption of IFRIC 23 at Dec. 31, 2017 | 51,938 | 338 | 23,598 | (2,210) | 25,389 | 4,764 | [1] | 4,466 | (61) | 360 | 51,879 | 59 | 51,429 | 338 | 24,633 | 21,646 | 4,754 | 4,455 | (61) | 360 | 51,370 | 0 | 59 | |||||
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) | |||||||||||||||||||
Translation effects recognized directly in retained earnings | 0 | (21) | 21 | [1] | 3 | 18 | 0 | 0 | (21) | 21 | 3 | 18 | 0 | |||||||||||||||
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) | [1] | (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] | 4,516 | 4,516 | 7 | 4,113 | [4] | 4,107 | 4,107 | 7 | ||||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | (855) | (855) | [1] | (541) | (45) | (269) | (855) | (829) | (829) | [1] | (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 before the adoption of IFRIC 23 at Dec. 31, 2018 | 53,103 | 338 | 20,843 | (2,631) | 30,448 | 3,930 | [1] | 3,924 | (103) | 109 | 52,928 | 176 | 52,432 | 338 | 24,655 | 23,317 | 3,946 | 3,940 | (103) | 109 | 52,256 | 0 | 176 | |||||
Balance at Dec. 31, 2018 | 53,092 | 338 | 20,843 | (2,631) | 30,437 | 3,930 | [1] | 3,924 | (103) | 109 | 52,917 | 176 | 52,421 | 338 | 24,655 | 23,306 | 3,946 | 3,940 | (103) | 109 | 52,245 | 0 | 176 | |||||
Issuance of share capital | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
Acquisition of treasury shares | (1,771) | (1,771) | [2] | (1,771) | ||||||||||||||||||||||||
Delivery of treasury shares under share-based compensation plans | 97 | (886) | 983 | 97 | ||||||||||||||||||||||||
Other disposal of treasury shares | 92 | (2) | 94 | [2] | 92 | |||||||||||||||||||||||
Premium on shares issued and warrants exercised | 29 | 29 | 29 | 0 | 0 | 0 | ||||||||||||||||||||||
Share-based compensation expensed in the income statement | 619 | 619 | 619 | |||||||||||||||||||||||||
Tax (expense) / benefit | 11 | 11 | 11 | 11 | 11 | 11 | ||||||||||||||||||||||
Dividends | (2,552) | (2,544) | [3] | (2,544) | (8) | (3,258) | (3,250) | (3,250) | (8) | |||||||||||||||||||
Translation effects recognized directly in retained earnings | 0 | (9) | 9 | 0 | 9 | 0 | 0 | (9) | 9 | [1] | 0 | 9 | 0 | |||||||||||||||
New consolidations / (deconsolidations) and other increases / (decreases) | (1) | (6) | (6) | 5 | (3) | (7) | (7) | 5 | ||||||||||||||||||||
Total comprehensive income for the year | 5,091 | 3,726 | 1,363 | [1] | 104 | 117 | 1,143 | 5,089 | 2 | 4,756 | 3,403 | 1,351 | [1] | 92 | 117 | 1,143 | 4,754 | 0 | 2 | |||||||||
of which: net profit / (loss) | 4,310 | [4] | 4,304 | 4,304 | 6 | 3,971 | [4] | 3,965 | 3,965 | 6 | ||||||||||||||||||
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax | 1,363 | 1,363 | [1] | 104 | 117 | 1,143 | 1,363 | 1,351 | 1,351 | [1] | 92 | 117 | 1,143 | 1,351 | ||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans | (186) | (186) | (186) | (170) | (170) | (170) | ||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - own credit | (392) | (392) | (392) | (392) | (392) | (392) | ||||||||||||||||||||||
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation | (4) | 0 | (4) | (4) | 0 | (4) | ||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 54,707 | $ 338 | $ 18,064 | $ (3,326) | $ 34,154 | $ 5,303 | [1] | $ 4,028 | $ 14 | $ 1,260 | $ 54,533 | $ 174 | $ 53,928 | $ 338 | $ 24,659 | $ 23,451 | $ 5,306 | [1] | $ 4,032 | $ 14 | $ 1,260 | $ 53,754 | $ 0 | $ 174 | ||||
[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 with regard to 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 0.70 (2018: CHF 0.65; 2017: CHF 0.60) per dividend-bearing share out of the capital contribution reserve. | |||||||||||||||||||||||||||
[4] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Equity (Parenthetical) $ in Millions | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019SFr / shares | Dec. 31, 2018SFr / shares | Dec. 31, 2017SFr / shares | |
Effect of adoption of IFRS 9 | $ (591) | |||||
Effect of adoption of IFRS 15 | (25) | |||||
Effect of adoption of IFRIC 23 | $ (11) | |||||
Ordinary cash dividends paid, ordinary shares per share | SFr / shares | SFr 0.7 | SFr 0.65 | SFr 0.6 | |||
Retained earnings | ||||||
Effect of adoption of IFRS 9 | (518) | |||||
Effect of adoption of IFRS 15 | (25) | |||||
Effect of adoption of IFRIC 23 | (11) | |||||
Other comprehensive income recognized directly in equity, net of tax | ||||||
Effect of adoption of IFRS 9 | [1] | (74) | ||||
of which: financial assets at fair value through other comprehensive income | ||||||
Effect of adoption of IFRS 9 | (74) | |||||
Total equity attributable to shareholders | ||||||
Effect of adoption of IFRS 9 | (591) | |||||
Effect of adoption of IFRS 15 | (25) | |||||
Effect of adoption of IFRIC 23 | (11) | |||||
UBS AG | ||||||
Effect of adoption of IFRS 9 | (591) | |||||
Effect of adoption of IFRS 15 | (25) | |||||
Effect of adoption of IFRIC 23 | (11) | |||||
UBS AG | Retained earnings | ||||||
Effect of adoption of IFRS 9 | (518) | |||||
Effect of adoption of IFRS 15 | (25) | |||||
Effect of adoption of IFRIC 23 | (11) | |||||
UBS AG | Other comprehensive income recognized directly in equity, net of tax | ||||||
Effect of adoption of IFRS 9 | [1] | (74) | ||||
UBS AG | of which: financial assets at fair value through other comprehensive income | ||||||
Effect of adoption of IFRS 9 | (74) | |||||
UBS AG | Total equity attributable to shareholders | ||||||
Effect of adoption of IFRS 9 | $ (591) | |||||
Effect of adoption of IFRIC 23 | $ (11) | |||||
[1] | Excludes defined benefit plans and own credit that are recorded directly in Retained earnings |
Shares issued and treasury shar
Shares issued and treasury shares held - shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Shares issued | ||
Balance at the beginning of the year | 3,855,634,749 | 3,853,096,603 |
Issuance of shares | 3,420,646 | 2,538,146 |
Balance at the end of the year | 3,859,055,395 | 3,855,634,749 |
Treasury shares | ||
Balance at the beginning of the year | 166,467,802 | 132,301,550 |
Acquisitions | 146,876,692 | 103,979,927 |
Disposals | (70,323,198) | (69,813,675) |
Balance at the end of the year | 243,021,296 | 166,467,802 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Cash flow from / (used in) operating activities | |||||||
Net profit / (loss) | [1] | $ 4,310 | $ 4,522 | $ 1,046 | |||
Non-cash items included in net profit and other adjustments: | |||||||
Depreciation and impairment of property, equipment and software | 1,765 | 1,228 | 1,053 | ||||
Impairment of goodwill | 110 | ||||||
Amortization and impairment of intangible assets | 65 | 65 | 71 | ||||
Credit loss expense / (recovery) | 78 | 118 | 131 | ||||
Share of net profits of associates / joint ventures and impairment of associates | (45) | (528) | (69) | ||||
Deferred tax expense / (benefit) | 477 | 425 | 3,414 | ||||
Net loss / (gain) from investing activities | 220 | (46) | (198) | ||||
Net loss / (gain) from financing activities | 6,493 | (4,828) | 2,109 | ||||
Other net adjustments | 854 | (1,179) | (855) | ||||
Net change in operating assets and liabilities: | |||||||
Loans and advances to banks / amounts due to banks | (4,336) | 3,504 | (3,234) | ||||
Securities financing transactions | 8,678 | (11,230) | (111) | ||||
Cash collateral on derivative instruments | 2,839 | (1,447) | (2,454) | ||||
Loans and advances to customers | (3,128) | (5,213) | (14,471) | ||||
Customer deposits | 23,217 | 9,138 | (12,962) | ||||
Financial assets and liabilities at FV held for trading and derivative financial instruments | (18,829) | 11,107 | (23,544) | ||||
Brokerage receivables and payables | (2,347) | 11,432 | |||||
Financial assets at fair value not held for trading, other financial assets and liabilities | 33 | 11,115 | (1,978) | ||||
Provisions, other non-financial assets and liabilities | 55 | 1,682 | 996 | ||||
Income taxes paid, net of refunds | (804) | (951) | (1,044) | ||||
Net cash flow from / (used in) operating activities | 19,705 | 28,913 | (52,099) | ||||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (26) | (287) | (106) | ||||
Disposal of subsidiaries, associates and intangible assets | [2] | 114 | 137 | 339 | |||
Purchase of property, equipment and software | (1,584) | (1,688) | (1,627) | ||||
Disposal of property, equipment and software | 11 | 114 | 47 | ||||
Purchase of financial assets measured at fair value through other comprehensive income | (3,424) | (1,999) | (8,626) | ||||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | 3,913 | 1,361 | 15,250 | ||||
Net (purchase) / redemption of debt securities measured at amortized cost | (562) | (3,770) | |||||
Net (purchase) / redemption of financial assets held to maturity | (91) | ||||||
Net cash flow from / (used in) investing activities | (1,558) | (6,132) | 5,186 | ||||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | (17,149) | (12,245) | 24,500 | ||||
Net movements in treasury shares and own equity derivative activity | (1,559) | (1,431) | (730) | ||||
Distributions paid on UBS shares | (2,544) | (2,440) | (2,259) | ||||
Repayment of lease liabilities | [3] | (518) | |||||
Issuance of long-term debt, including debt issued designated at fair value | 65,047 | 60,682 | 51,450 | ||||
Repayment of long-term debt, including debt issued designated at fair value | (68,883) | (44,344) | (45,187) | ||||
Net changes in non-controlling interests and preferred notes | (8) | (31) | (787) | ||||
Net cash flow from / (used in) financing activities | (25,614) | 190 | 26,988 | ||||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [4] | 126,079 | 104,834 | 119,014 | |||
Net cash flow from / (used in) operating, investing and financing activities | (7,467) | 22,971 | (19,925) | ||||
Effects of exchange rate differences on cash and cash equivalents | 1,261 | (1,726) | 5,745 | ||||
Cash and cash equivalents at the end of the year | [4] | 119,873 | 126,079 | 104,834 | |||
Net cash flow from / (used in) operating activities includes: | |||||||
Interest received in cash | [5] | 15,315 | 14,645 | 12,708 | |||
Interest paid in cash | [5] | 10,769 | 9,206 | 6,689 | |||
Dividends on equity investments, investment funds and associates received in cash | [6] | 3,145 | 2,322 | 1,828 | |||
UBS AG | |||||||
Cash flow from / (used in) operating activities | |||||||
Net profit / (loss) | [1] | 3,971 | 4,113 | 834 | |||
Non-cash items included in net profit and other adjustments: | |||||||
Depreciation and impairment of property, equipment and software | 1,576 | 1,052 | 945 | ||||
Impairment of goodwill | 110 | 0 | 0 | ||||
Amortization and impairment of intangible assets | 65 | 65 | 71 | ||||
Credit loss expense / (recovery) | 78 | 117 | 131 | ||||
Share of net profits of associates / joint ventures and impairment of associates | (45) | (528) | (69) | ||||
Deferred tax expense / (benefit) | 460 | 374 | 3,398 | ||||
Net loss / (gain) from investing activities | 220 | (49) | (198) | ||||
Net loss / (gain) from financing activities | 6,506 | (4,829) | 2,763 | ||||
Other net adjustments | 862 | (1,092) | (1,077) | ||||
Net change in operating assets and liabilities: | |||||||
Loans and advances to banks / amounts due to banks | (4,336) | 3,504 | (3,236) | ||||
Securities financing transactions | 8,678 | (11,230) | (111) | ||||
Cash collateral on derivative instruments | 2,842 | (1,449) | (2,454) | ||||
Loans and advances to customers | (3,205) | (4,152) | (15,661) | ||||
Customer deposits | 23,399 | 7,931 | (12,073) | ||||
Financial assets and liabilities at FV held for trading and derivative financial instruments | (18,873) | 11,093 | (23,560) | ||||
Brokerage receivables and payables | (2,347) | 11,432 | |||||
Financial assets at fair value not held for trading, other financial assets and liabilities | 126 | 10,902 | (1,801) | ||||
Provisions, other non-financial assets and liabilities | (537) | 1,377 | (29) | ||||
Income taxes paid, net of refunds | (741) | (888) | (1,021) | ||||
Net cash flow from / (used in) operating activities | 18,805 | 27,744 | [7] | (53,147) | |||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (26) | (287) | [7] | (106) | |||
Disposal of subsidiaries, associates and intangible assets | [2] | 114 | 137 | [7] | 339 | ||
Purchase of property, equipment and software | (1,401) | (1,473) | [7] | (1,532) | |||
Disposal of property, equipment and software | 11 | 114 | [7] | 210 | |||
Purchase of financial assets measured at fair value through other comprehensive income | (3,424) | (1,999) | [7] | (8,626) | |||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | 3,913 | 1,361 | [7] | 15,250 | |||
Net (purchase) / redemption of debt securities measured at amortized cost | (562) | (3,770) | [7] | ||||
Net (purchase) / redemption of financial assets held to maturity | (91) | ||||||
Net cash flow from / (used in) investing activities | (1,374) | (5,918) | [7] | 5,444 | |||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | (17,149) | (12,245) | [7] | 24,500 | |||
Distributions paid on UBS shares | (3,250) | (3,098) | [7] | (2,219) | |||
Repayment of lease liabilities | [3] | (496) | |||||
Issuance of long-term debt, including debt issued designated at fair value | 59,199 | 54,726 | [7] | 40,270 | |||
Repayment of long-term debt, including debt issued designated at fair value | (68,883) | (44,344) | [7] | (45,187) | |||
Funding from UBS Group AG and its subsidiaries | 5,848 | [8] | 5,956 | [7],[8] | 11,180 | [9] | |
Dividends paid and repayments of preferred notes | (782) | ||||||
Net changes in non-controlling interests | (8) | (31) | [7] | (5) | |||
Net cash flow from / (used in) financing activities | (24,738) | 963 | [7] | 27,758 | |||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [11] | 125,853 | [7],[10] | 104,787 | [12] | 118,984 | |
Net cash flow from / (used in) operating, investing and financing activities | (7,307) | 22,789 | [7] | (19,944) | |||
Effects of exchange rate differences on cash and cash equivalents | 1,258 | (1,722) | [7] | 5,749 | |||
Cash and cash equivalents at the end of the year | [11] | 119,804 | [13] | 125,853 | [7],[10] | 104,787 | [12] |
Net cash flow from / (used in) operating activities includes: | |||||||
Interest received in cash | [14] | 15,344 | 14,666 | 12,721 | |||
Interest paid in cash | [14] | 10,800 | 9,372 | 6,748 | |||
Dividends on equity investments, investment funds and associates received in cash | [6] | $ 3,145 | $ 2,322 | $ 1,828 | |||
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | ||||||
[2] | Includes dividends received from associates | ||||||
[3] | Upon adoption of IFRS 16 on 1 January 2019, cash payments for the principal portion of the lease liability previously classified within operating activities have been reclassified to financing activities. | ||||||
[4] | USD 3,192 million, USD 5,245 million and USD 2,497 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 31 December 2019, 31 December 2018 and 31 December 2017, respectively. Refer to “Note 26 Restricted and transferred financial assets” in the “Consolidated financial statements” section of the Annual Report 2019 for more information. | ||||||
[5] | Interest received and paid in cash was restated to represent the total of interest on financial instruments measured at amortized cost / fair value through other comprehensive income (31 December 2018: USD 9,997 million interest received and USD 6,382 million interest paid and 31 December 2017: USD 10,455 million interest received and USD 5,425 million interest paid) and interest on financial instruments measured at fair value through profit or loss (31 December 2018: USD 4,648 million interest received and USD 2,823 million interest paid and 31 December 2017: USD 2,254 million interest received and USD 1,264 million interest paid). | ||||||
[6] | Includes dividends received from associates reported within Net cash flow from / (used in) investing activities. | ||||||
[7] | 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 of the Annual Report 2018 for more information | ||||||
[8] | Represents funding from UBS Group AG to UBS AG. | ||||||
[9] | Represents funding from UBS Group Funding (Switzerland) AG to UBS AG. | ||||||
[10] | Comprises balances with an original maturity of three months or less. USD 5,245 million of cash and cash equivalents were restricted. | ||||||
[11] | USD 3,192 million, USD 5,245 million and USD 2,497 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 31 December 2019, 31 December 2018 and 31 December 2017, respectively. Refer to “Note 26 Restricted and transferred financial assets” in the “Consolidated financial statements” section of the Annual Report 2019 for more information. | ||||||
[12] | Comprises balances with an original maturity of three months or less. USD 2,497 of cash and cash equivalents were restricted. | ||||||
[13] | Comprises balances with an original maturity of three months or less. USD 3,192 million of cash and cash equivalents were restricted. | ||||||
[14] | Interest received and paid in cash was restated to represent the total of interest on financial instruments measured at amortized cost / fair value through other comprehensive income (31 December 2018: USD 10,013 million interest received and USD 6,549 million interest paid and 31 December 2017: USD 10,469 million interest received and USD 5,485 million interest paid) and interest on financial instruments measured at fair value through profit or loss (31 December 2018: USD 4,653 million interest received and USD 2,823 million interest paid and 31 December 2017: USD 2,252 million interest received and USD 1,264 million interest paid). |
Consolidated Statement ot Cash
Consolidated Statement ot Cash Flows (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | |||
Statement Of Cash Flows [Line Items] | |||||
Restricted cash and cash equivalents | $ 5,245 | $ 2,497 | $ 3,192 | ||
Interest received in cash on financial instruments measured at amortized cost and fair value through other comprehensive income | 9,997 | 10,455 | |||
Interest paid in cash on financial instruments measured at amortized cost and fair value through other comprehensive income | 6,382 | 5,425 | |||
Interest received in cash on financial instruments measured at fair value through profit or loss | 4,648 | 2,254 | |||
Interest paid in cash on financial instruments measured at fair value through profit or loss | 2,823 | 1,264 | |||
Money market paper in financial assets at fair value held for trading | 366 | 135 | 235 | ||
Money market paper in financial assets measured at fair value through other comprehensive income | 8 | 17 | 24 | ||
Money market paper in financial assets at fair value not held for trading | 1,556 | 1,941 | 920 | ||
Money market paper in other financial assets measured at amortized cost | 204 | 0 | 351 | ||
Cash and balances at central banks classified as cash equivalents | [1] | 108,268 | 89,968 | 106,957 | |
Loans and advances to banks classified as cash equivalents | 15,678 | 12,773 | 11,386 | ||
Money market paper classified as cash equivalents | [2] | 2,133 | 2,093 | 1,530 | |
UBS AG | |||||
Statement Of Cash Flows [Line Items] | |||||
Restricted cash and cash equivalents | 5,245 | 2,497 | 3,192 | ||
Interest received in cash on financial instruments measured at amortized cost and fair value through other comprehensive income | 10,013 | 10,469 | |||
Interest paid in cash on financial instruments measured at amortized cost and fair value through other comprehensive income | 6,549 | 5,485 | |||
Interest received in cash on financial instruments measured at fair value through profit or loss | 4,653 | 2,252 | |||
Interest paid in cash on financial instruments measured at fair value through profit or loss | 2,823 | 1,264 | |||
Money market paper in financial assets at fair value held for trading | 366 | 135 | 235 | ||
Money market paper in financial assets measured at fair value through other comprehensive income | 8 | 17 | 24 | ||
Money market paper in financial assets at fair value not held for trading | 1,556 | 1,941 | 920 | ||
Money market paper in other financial assets measured at amortized cost | 204 | 0 | 351 | ||
Cash and balances at central banks classified as cash equivalents | [1] | 108,268 | [3] | 89,968 | 106,957 |
Loans and advances to banks classified as cash equivalents | 15,452 | [3] | 12,726 | 11,317 | |
Money market paper classified as cash equivalents | [4],[5] | $ 2,133 | [3] | $ 2,093 | $ 1,530 |
[1] | Includes only balances with an original maturity of three months or less. | ||||
[2] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading (31 December 2019: USD 235 million; 31 December 2018: USD 366 million; 31 December 2017: USD 135 million), Financial assets measured at fair value through other comprehensive income (31 December 2019: USD 24 million; 31 December 2018: USD 8 million; 31 December 2017: USD 17 million), Financial assets at fair value not held for trading (31 December 2019: USD 920 million; 31 December 2018: USD 1,556 million; 31 December 2017: USD 1,941 million) and Other financial assets measured at amortized cost (31 December 2019: USD 351 million; 31 December 2018: USD 204 million; 31 December 2017: USD 0 million). | ||||
[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 of the Annual Report 2018 for more information | ||||
[4] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading (31 December 2019: USD 235 million; 31 December 2018: USD 366 million; 31 December 2017: USD 135 million), Financial assets measured at fair value through other comprehensive income (31 December 2019: USD 24 million; 31 December 2018: USD 8 million; 31 December 2017: USD 17 million), Financial assets at fair value not held for trading (31 December 2019: USD 920 million; 31 December 2018: USD 1,556 million; 31 December 2017: USD 1,941 million) and Other financial assets measured at amortized cost (31 December 2019: USD 351 million; 31 December 2018: USD 204 million; 31 December 2017: USD 0 million). | ||||
[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. |
Changes in liabilities arising
Changes in liabilities arising from financing activities - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | ||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | $ (20,985) | $ 4,092 | ||||
Non-cash changes | 8,560 | (10,711) | ||||
of which: foreign currency translation | (270) | (2,905) | ||||
of which: fair value changes | 7,424 | (7,475) | ||||
of which: other | 1,406 | (332) | ||||
Balance | 179,327 | 191,752 | $ 198,371 | |||
Debt issued measured at amortized cost | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (22,704) | (7,402) | ||||
Non-cash changes | 930 | (3,488) | ||||
of which: foreign currency translation | (476) | (3,155) | ||||
of which: other | 1,406 | (332) | ||||
Balance | 110,497 | 132,271 | 143,160 | |||
of which: short term | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (17,149) | (12,245) | ||||
Non-cash changes | (39) | (1,000) | ||||
of which: foreign currency translation | (39) | (1,000) | ||||
of which: other | 0 | 0 | ||||
Balance | 21,837 | 39,025 | 52,270 | |||
of which: long term | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (5,555) | 4,843 | ||||
Non-cash changes | 969 | (2,487) | ||||
of which: foreign currency translation | (438) | (2,155) | ||||
of which: other | [1] | 1,406 | (332) | |||
Balance | 88,660 | 93,246 | 90,890 | |||
Debt issued designated at fair value | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | 2,144 | 13,332 | ||||
Non-cash changes | 7,634 | (7,083) | ||||
of which: foreign currency translation | 212 | 309 | ||||
of which: fair value changes | 7,421 | (7,392) | ||||
of which: other | 0 | 0 | ||||
Balance | 66,809 | 57,031 | 50,782 | |||
Over-the-counter (OTC) debt instruments | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | [2] | (425) | (1,838) | |||
Non-cash changes | [2] | (3) | (140) | |||
of which: foreign currency translation | [2] | (6) | (59) | |||
of which: fair value changes | [2] | 3 | (82) | |||
of which: other | [2] | 0 | 0 | |||
Balance | 2,022 | [2] | 2,450 | [2] | 4,428 | |
UBS AG | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (20,985) | 4,092 | ||||
Non-cash changes | 8,588 | (10,481) | ||||
of which: foreign currency translation | (270) | (2,663) | ||||
of which: fair value changes | 7,424 | (7,475) | ||||
of which: other | 1,434 | (344) | ||||
Balance | 179,531 | 191,928 | 198,316 | |||
UBS AG | Debt issued measured at amortized cost | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (28,355) | (13,358) | ||||
Non-cash changes | (55) | (2,855) | ||||
of which: foreign currency translation | (346) | (2,624) | ||||
of which: other | 291 | (231) | ||||
Balance | 62,835 | 91,245 | 107,458 | |||
UBS AG | of which: short term | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (17,149) | (12,245) | ||||
Non-cash changes | (39) | (1,000) | ||||
of which: foreign currency translation | (39) | (1,000) | ||||
of which: other | 0 | 0 | ||||
Balance | 21,837 | 39,025 | 52,270 | |||
UBS AG | of which: long term | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | (11,206) | (1,113) | ||||
Non-cash changes | (16) | (1,854) | ||||
of which: foreign currency translation | (307) | (1,623) | ||||
of which: other | [3] | 291 | (231) | |||
Balance | 40,998 | 52,220 | 55,187 | |||
UBS AG | Debt issued designated at fair value | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | 1,947 | 13,332 | ||||
Non-cash changes | 7,614 | (7,083) | ||||
of which: foreign currency translation | 210 | 309 | ||||
of which: fair value changes | 7,404 | (7,392) | ||||
of which: other | 0 | 0 | ||||
Balance | 66,592 | 57,031 | 50,782 | |||
UBS AG | Over-the-counter (OTC) debt instruments | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | [4] | (425) | (1,838) | |||
Non-cash changes | [4] | (3) | (140) | |||
of which: foreign currency translation | [4] | (6) | (59) | |||
of which: fair value changes | [4] | 3 | (82) | |||
of which: other | [4] | 0 | 0 | |||
Balance | 2,022 | [4] | 2,450 | [4] | 4,428 | |
UBS AG | Funding from UBS Group AG and its subsidiaries | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Cash flows | [5] | 5,848 | 5,956 | |||
Non-cash changes | [5] | 1,033 | (402) | |||
of which: foreign currency translation | [5] | (128) | (289) | |||
of which: fair value changes | [5] | 17 | 0 | |||
of which: other | [3],[5] | 1,144 | (113) | |||
Balance | [5] | $ 48,083 | $ 41,202 | $ 35,648 | ||
[1] | Includes the effect of fair value hedges on long-term debt. Refer to Note 1a item 3j 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. 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] | Includes funding from UBS Group AG and its subsidiaries measured at amortized cost (refer to Note 18b Funding from UBS Group AG and its subsidiaries) and measured at fair value (refer to Note 22b Other financial liabilities designated at fair value). |
Shares issued and treasury sh_2
Shares issued and treasury shares held; Conditional share capital | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Classes Of Share Capital [Line Items] | |
Disclosure of shares issued, treasury shares held and conditional share capital | UBS Group AG shares issued and treasury shares held Number of shares 2019 2018 Shares issued Balance at the beginning of the year 3,855,634,749 3,853,096,603 Issuance of shares 3,420,646 2,538,146 Balance at the end of the year 3,859,055,395 3,855,634,749 Treasury shares Balance at the beginning of the year 166,467,802 132,301,550 Acquisitions 146,876,692 103,979,927 Disposals (70,323,198) (69,813,675) Balance at the end of the year 243,021,296 166,467,802 Conditional share capital As of 31 December 2019, a maximum of CH F 12,170,5 83, represe nted by 121,705,830 fu lly paid registered shares with a par value of CHF 0.10 each, was available to be issued to fund UBS ’ s emplo yee share option programs. Additional conditional capital up to a maximum of CHF 38,000,000, represented by up to 380,000,000 fully paid registered shares with a nominal value of CHF 0.10 each, was available as of 31 December 2019 for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments . Authorized share capital UBS Group AG had no authorized capital available to issue on 31 December 2019 . Share repurchase program UBS has an active share repurcha se 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 purchas ed 69 million sha res totaling USD 80 6 mil lion in 2019 (2018: 48 million shares totaling USD 762 million). |
UBS AG | |
Disclosure Of Classes Of Share Capital [Line Items] | |
Disclosure of shares issued, treasury shares held and conditional share capital | UBS AG shares issued As of 31 December 2019, shares issued by UBS AG totaled 3,858,408,466 (31 December 2018: 3,858,408,466 shares) and were entirely held by UBS Group AG . Conditional share capital Conditional capital up to a maximum of CHF 38,000,000, represented by up to 380,000,000 fully paid registered shares with a nominal value of CHF 0.10 each, was available as of 31 December 2019 for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments. Authorized share capital UBS AG had no authorized capital available to issue on 31 December 20 19. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2019 | |
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 27 February 2020, the Financial Statements we re 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 Group AG ; UBS AG’s Head Office; UBS AG , London Branch; and UBS’s US-based operations. Disclosures provided in the “Risk, treasury and capital management” section of this repor t that are 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 accounting policies described in this Note have been applied consistently in 2019, 2018 and 2017 unless otherwise stated in Note 1b. Exceptions include IFRS 9, Financial Instruments ( effective from 1 January 2018), IFRS 15, Revenue from Contracts with Customers ( effective from 1 January 2018), and IFRS 16, Leases ( effective from 1 January 2019). Within this Note, policies applied in 2018 and 2017 or only in 2017 that differ from those applied to the financial year ended 31 December 2019 are identif ied 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 a nd 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 h ave a significant effect on the Financial Statements. Further more , actual results may differ significantly from UBS’s estimates, which could result in significant losses to the Group, beyond what was anticipated or provided for. The following areas conta in estimation uncertainty or require critical judgment and have a significant effect on the amounts recognized in the Financial Statements: – fair value measurement (refer to item 3f in this Note and to Note 24); – expected credit loss measurement (refer to i tem 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 item 7 in this Note and to Note 29); – income taxes (refer to item 8 in this Note and to Note 8); – goodwill (refer to item 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 (re fer to item 1 in this Note and to Note 31); and – determination of the functional currency and assessing the earliest date from which it is practical to perform a restatement following a change in presentational currency for the year ended 31 December 2018 (refer to item 13 in this Note). 1) Consolidation a. Consolidation principles The Financial Statements comprise the financial statements of the parent company (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 r eturns. 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 has an interest in an entity that exposes it to variability, UBS considers whether it has power over the relevant activit ies 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 , i.e. , 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-making r ights are all considered in 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 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 ing these factors, UBS concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidiaries , 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 sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, including allowing cl ients 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 controls the entity. Su ch 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 substance 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 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 classe s of SEs with which UBS is involved include the following : – 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 SEs. – Client i nvestment 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 or throu gh an external market transaction. In some 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-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 man aged, 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 creates and sponsors a large number of funds in whic h it may have an interest through the receipt 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 issu ed 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 eac h 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 the relevant facts and circumstan ces, 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 UBS’s businesses are organized globally into four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. All four business divisions ar e supported by Corporate Center and qualify as reportable segments for the purpose of segment reporting. Together with Corporate Center , the four business divisions reflect the management structure of the Group. Financial information about the four busines s divisions and Corporate Center is 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. Prior to 2018, UBS‘s businesses were org anized 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 r eportable segments for the purpose of segment reporting and, together with Corporate Center, reflect ed the management structure of the Group . Corporate Center – Non-core and Legacy Portfolio was managed and reported as a separate reportable unit within Cor porate Center. Financial information about the five business divisions and Corporate Center was presented separately in internal management reports to the Group Executive Board . Effective from 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 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. Consequently, from 2018, Global Wealth Management qualifies as an operating and rep ortable 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. Following the change in the composition of UBS’s operat ing segments and corresponding reportable segments, previously reported segment information has been restated. This change had no material effect on the former segments, including recognized goodwill. Refer to item 11 in this Note and Note 16 for more information Effective from 2019, UBS has operationally combined Group Treasury activities with Group Asset and Liability Management (Group ALM) and calls this combined unit Group Treasury. In addition, UBS provides results for total Corporate C enter only and does not separately report Corporate Center – Services, Group Treasury and Non-core and Legacy Portfolio due to the substantial reduction in the size and resource consumption of these units. Prior-period information has been restated. 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 i nternally 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 creati on chain. Commissions are credited to the reportable segments based 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-sh aring agreements. Interest income earned from managing UBS’s consolidated equity is allocated to the reportable segments based on average attributed tangible equity and currency composition. Assets and liabilities of the reportable segments are funded thr ough and invested with Corporate Center, 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 centrally by Corporate Center may be alloc ated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets are reported on the balance sheet of Corporate Center, notwithstanding that the costs or revenues associated with th ese 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. Non-current assets disclosed for segment reporting 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 information 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 non-derivative financial instruments . 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 these items meet the definition of an asset and the recognition criteria are satisfied, such assets are not recognized on UBS’s balance sheet. Consequently, the related income is excluded from these F inancial S tatements. Client cash balances associated with derivatives clearing and execution services are not recogniz ed on the balance sheet if, through contractual agreement, regulation or practice, the Group neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation All financial instruments are on initial recog nition 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 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 both of the following condi tions: – 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 (SPPI) on t he 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 assets; an d – 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 value bas is 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 business model, for example i f 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. The Group originat es 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 len ding 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 of hold ing assets to collect contractual cash flows, and those within the latter include d 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 credit der ivatives. These financial assets are mandatorily measured at FVTPL. 1 The accounting policy in this section applies from 1 January 2018, the effective date of IFRS 9. 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 disaggregation is performed by business strategy. A detailed assessmen t 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 compensated. In addition, UBS exercises judgment in determining t he 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 contractual 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 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 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 asset s and liabilities in accordance with IFRS 9, as described in the table on the following pages. Classification, measurement and presentation of financial assets from 1 January 2018 Financial assets c lassification Significant items included Measurement and presentation Measured at amortized cost This classification includes: – cash and balances at central banks ; – loans and advances to banks ; – cash collateral receivables on securities borrowed ; – receivables on reverse repurchase agreements ; – cash collateral receivables on derivative instruments ; – residential and commercial mortgages ; – corporate loans ; – secured loans, including Lombard loans, and unsecured loans ; – loa ns to financial advisors ; and – debt securities held as high-quality liquid assets (HQLA) . 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: – interest income, which is accounted for in accordance with item 3c in this Note ; – ECL and reversals ; and – 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. Whe n 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 counter parties 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 This classification primarily includes debt securities and certain asset-backed securities held as HQLA. Measured at fair value with unrealized gains and losses reported in Other comprehensive income, net of applicable income taxes, unt il 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 ar e recognized in the income statement: – interest income, which is accounted for in accordance with item 3c in this Note ; – ECL and reversals ; and – foreign 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. Classification, measurement and presentation of financial assets from 1 January 2018 (continued) 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 identified financial instruments that are managed together and for which there is evidence of a rec ent 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 traded 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 , dividends and gains and losses realized on disposal or redemption are recognized in Other net income from financial instruments measured at fair value through profit or loss, except interest income on instruments other than derivatives (refer to item 3c in this Note and Note 1b 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 hedging instruments) are generally presented as Derivative financial ins truments, 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 receivables on derivative instruments. The pres entation of fair value changes on derivatives that are designated and effective hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more information). 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 fair value not held for trading, except for brokerage receivables, whic h 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 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 ; – 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 – t hese assets represent holdings in investment funds, wher eby 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 cash flows do not meet the SPPI criterion because the aggregate ba lance 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 , dividends and gains and losses realized on disposal or redemption are recognized in Other net income from financial instruments measured at fair value through profit or loss, except interest income on instruments other than derivatives (refer to item 3c in this Note and Note 1b 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 hedging instruments) are generally presented as Derivative financial ins truments, 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 receivables on derivative instruments. The pres entation of fair value changes on derivatives that are designated and effective hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more information). 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 fair value not held for trading, except for brokerage receivables, whic h are presented as a separate line item on the Group ’ s balance sheet. Classification, measurement and presentation of financial liabilities Financial liabilities c lassification Significant items included Measurement and presentation 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 amortized cost is derecognized, the gain or loss is recognized in the in come 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 coll ateral 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 lia bilities 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 |
UBS AG | |
Disclosure Significant Accounting Policies [Line Items] | |
Significant accounting policies | Note 1 Summary of significant accounting policies (continued) a) Significant accounting policies In other cases, the assessment of control is more complex and requires greater use of judgment. Where UBS AG has an interest in an entity that exposes it to varia bility, UBS AG 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 UBS AG has power over another entit y , i.e. , 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-making 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 in 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 (i ii) 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 ing these factors, UBS AG concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidiaries, 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, including 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 rig hts 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 AG assesses whether an entity is an SE by considering the nature of 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 th e ability to liquidate the entity or remove the decision 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 ca nnot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS AG is involved include the following : – 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 securit ization definition. All securitization entities are classified as SEs. – 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 inv estment objective or to introduce other desired risk exposures. In certain 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 collectiv e 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 subst antive 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 and 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 t hese 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 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 th e consolidation assessment, judgment is exercised considering all the 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 m ore information This Note describes the significant accounting policies applied in the preparation of the consolidated financial statements (the Financial Statements) of UBS AG and its subsidiaries (UBS AG ). On 27 February 2020, the Financial Statements were authorized fo r 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 , 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 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 accounting policies described in this Note have been applied consistently in 2019, 2018 and 2017 unless otherwise stated in Note 1b. Exceptions include IFRS 9, Financial Instruments ( effective from 1 January 2018), IFRS 15, Revenue from Contracts with Customers ( effective from 1 January 2018), and IFRS 16, Leases ( effective from 1 January 2019). Within this Note, policies applied in 2018 and 2017 or only in 2017 that differ from those applied to the financial year ended 31 December 2019 are identified a s “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, incom e 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, updating them as necessary. Changes in those estimates and assumptions may hav e a significant effect on the Financial Statements. Further more , actual results may differ significantly from UBS AG ’s estimates, which could result in significant losses 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 measurement (refer to item 3f in this Note and to Note 24); – expected credit loss measurement (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 item 7 in this Note an d to Note 29); – income taxes (refer to item 8 in this Note and to Note 8); – goodwill (refer to item 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 (r efer to item 1 in this Note and to Note 31); and – determination of the functional currency and assessing the earliest date from which it is practical to perform a restatement following a change in presentational currency for the year ended 31 December 2018 (refer to item 13 in this Note). 1) Consolidation a. Consolidation principles 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, 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 ; an d (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. 2) Segment reporting UBS AG’s businesses are organized globally into four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. All four business divisions are supported by Corporate Center and qualify as reportable segments for the purpose of segment reporting. Together with Corporate Center , the four business divisions reflect the management structure of the Group. Financial information about the four business divisions and Corporate Center is presented separately in internal management reports . Prior to 2018, UBS AG‘s businesses were organ ized 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 . Corporate Center – Non-core and Legacy Portfolio was managed and reported as a separate reportable unit withi n Corporate Center. Financial information about the five business divisions and Corporate Center was presented separately in internal management reports . Effective from 2018, UBS AG combined its Wealth Management and Wealth Management Americas business div isions 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 integrated operating plan and management structure. Consistent with this, the opera ting results of Global Wealth Management are presented and assessed on an integrated basis in internal management reports. Consequently, from 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment report ing and is presented in these Financial Statements alongside Personal & Corporate Banking, Asset Management, the Investment Bank and Corporate Center. Following the change in the composition of UBS AG ’s operating segments and corresponding reportable segme nts, previously reported segment information has been restated. This change had no material effect on the former segments, including recognized goodwill. Refer to item 11 in this Note and Note 16 for more information Effective from 2019, UB S AG has operationally combined Group Treasury activities with Group Asset and Liability Management (Group ALM) and calls this combined unit Group Treasury. In addition, UBS AG provides results for total Corporate Center only and does not separately report Corporate Center – Services, Group Treasury and Non-core and Legacy Portfolio due to the substantial reduction in the size and resource consumption of these units. Prior-period information has been restated. UBS AG ’s internal accounting policies, which in clude 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 reflect ed 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 reportable segments based on average attributed tangible equity and currency composition. Assets and liabilities of the reportable segments are funded through and invested with Corporate Center , 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 management . Certain assets managed centrally by Corporate Center may be allocated to other segments on a basis differen t to that on which the corresponding costs or revenues are allocated. For example, certain assets are reported on the balance sheet of Corporate Center, notwithstanding that the costs or revenues associated with these assets may be entirely or partly alloc ated 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. Non-current assets disclosed for segment reporting 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 information 3) Financial instruments a. Recognition 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 non-derivative financi al 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 these items meet the definition of an asset and the recognition criteria are satisfie d, such assets are not recognized on UBS AG ’s balance sheet. Consequently, 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, UBS AG neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation All financial instruments are on initial recognition measured at fair value. In the case of financial instruments subsequently measured at amortized cost or fair value through other comprehensive income (FVOC I) , the initial fair value is adjusted for directly attributable 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 (F VTPL). A debt instrument is measured at amortized cost if it meets both of 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 finan cial asset result in cash flows that are solely payments of principal 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 ob jective is achieved by both collecting contractual cash flows and selling 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 measured 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 ap ply. 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 achi eve 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 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. 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 of hold ing assets to collect contractual cash flows, and those 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, for instance, using credit derivatives. These financial assets are mandatorily measured at FVTPL. 1 The accounting policy in this section applies from 1 January 2018, the effective date of IFRS 9. 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, furt her disaggregation is performed by business strategy. A detailed 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 ma nagement is compensated. In addition, UBS AG 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, UBS AG considers whether the contractual terms of the financial asset contain a term that could change the timing or amo unt of contractual cash flows arising over 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 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 in itial recognition, UBS AG classifies, measures and presents its financial assets and liabilities in accordance with IFRS 9, as described in the table on the following pages. Classification, measurement and presentation of financial assets from 1 January 2018 Financial assets C lassification Significant items included Measurement and presentation Measured at amortized cost This classification includes: – cash and balances at central banks ; – loans and advances to banks ; – cash collateral receivables on securities borrowed ; – receivables 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 ; and – debt securities held as high-quality liquid assets (HQLA) . Measured at amortized cost using the effective interest rat e (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: – interest income, which is accounted for in accordance with item 3c in this Note ; – ECL and reversals ; and – 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 s pecific 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-tr aded 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 pr esented within Cash collateral receivables on derivative instruments. Measured at FVOCI Debt instruments measured at FVOCI This classification primarily includes debt securities and certain asset-backed securities held as HQLA. 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 balanc es 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 ; and – foreign 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. Financial assets C lassification Significant items included Measurement and presentation 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 repu rchasing in the near term, or that are part of a portfolio of identified 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 traded 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 , dividends and gains and losses realized on disposal or redemption are recognized in Other net income from financial instruments measured at fair value through profit or loss, except interest income on instruments other than derivatives (refer to item 3c in this Not e and Note 1b 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 i nterest income. Derivative assets (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 b e settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash collateral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective hedging ins truments depends on the type of hedge relationship (refer to item 3j in this Note for more information). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets m andatorily measured at fair value through profit or loss are presented as Financial assets at fair 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 ; – 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 ert ain investment fund holdings and assets held to hedge delivery obligations related to cash-settled employee compensation plans – t hese 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 cash flows do not meet the SPPI criterion because the aggregate balance is accounted for as a single unit of account, with interest bein g 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 , dividends and gains and losses realized on disposal or redemption are recognized in Other net income from financial instruments measured at fair value through profit or loss, except interest income on instruments other than derivatives (refer to item 3c in this Not e and Note 1b 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 i nterest income. Derivative assets (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 b e settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash collateral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective hedging ins truments depends on the type of hedge relationship (refer to item 3j in this Note for more information). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets m andatorily measured at fair value through profit or loss are presented as Financial assets at fair value not held for trading, except for brokerage receivables, which are presented as a separate line item on UBS AG ’ s balance sheet. Classification, measurement and presentation of financial liabilities Financial liabilities C lassification Significant items included Measurement and presentation 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; – obligations against funding from UBS Group AG and its subsidiaries ; and – cash collateral payables on derivative instruments. Measured at amortized cost using the EIR method. Upfront fees and d irect 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 inco me 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 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 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 th at 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 v |
Changes in accounting policies,
Changes in accounting policies, comparability and adjustments | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Significant Accounting Policies [Line Items] | |
Transition effects of the initial application of IFRS 16 accounting standard | Note 1 Summary of significant accounting policies (continued) b) Changes in accounting policies, comparability and other adjustments New or amended accounting standards Amendments to IAS 39, IFRS 9 and IFRS 7 (Interest Rate Benchmark Reform) In September 2019, the IASB issued In terest Rate Benchmark Reform – Amendments to IFRS 9, IAS 39 and IFRS 7 , enabling hedge accounting to continue during the period of uncertainty before existing interest rate benchmarks are replaced with alternative risk-free interest rates. The amendments are mandatorily effective from 1 January 2020, with early adoption permitted, and apply to hedge relationships that exist at the beginning of the reporting period or are designated ther eafter, and to the gains or losses that exist in OCI on adoption. As permitted by the transitional provisions, UBS ea rly adopted the revisions in 2019. Adopting these amendments allows UBS to maintain its existing hedge accounting relationships and to assu me that the current benchmark rates will continue to exist, such that the hedge relationships are considered highly effective on a retrospective and prospective basis, with no consequential impact on the financial statements. Further, the amendments bring in additional disclosure requirements on the effects arising from the change in interest rate benchmarks, which are presented in Note 28. IFRS 16, Leases Effective from 1 January 2019, UBS adopted IFRS 16, Leases , which replaced IAS 17, Leases , and sets o ut the principles for the recognition, measurement, presentation and disclosure of leases. IFRS 16 introduces a single lessee accounting model and fundamentally changes how UBS accounts for operating leases when acting as a lessee, with a requirement to r ecord a right-of-use (RoU) asset and lease liability on the balance sheet. UBS is a lessee in a number of leases, primarily of real estate, including offices, retail branches and sales offices, with a smaller number of IT hardware leases. As permitted by t he transitional provisions of IFRS 16, UBS elected to apply the modified retrospective approach and has not restated comparative figures. Overall, adoption of IFRS 16 resulted in a USD 3.5 billion increase in both total assets and total liabilities in UBS’ s consolidated financial statements . The newly recognized right-of-use assets and finance lease receivables were fully allocated to the business divisions. There was no effect on equity. Refer to the tables below and on the following page , and Note 2 for more information UBS applied the following practical expedients that are permitted on transition to IFRS 16 where UBS is a lessee in a lease previously classified as an operating lease: – to not reassess whether or not a contract contained a lease; – to rely on previous assessments of whether such contracts were considered onerous; – to rely on previous sale-and-leaseback assessments; – to adjust lease terms with the benefit of hindsight with respect to whether extension or termination options are reasonably certain of being exercised; – to discount lease liabilities using the Group’s incremental borrowing rate in each currency as of 1 Jan uary 2019; – to initially measure the RoU asset at an amount equal to the lease liability for leases previously classified as operating leases, adjusted for existing lease balances , such as rent prepayments, rent accruals, lease incentives and onerous lease provisions, but excluding initial direct costs; and – to not apply IFRS 16 to leases the remaining term of which will end within 12 months from the transition date. The measurement of leases previously classified as finance leases where UBS acts as a lessee has not changed on transition to IFRS 16. Similarly, UBS has made no adjustments where UBS acts as a lessor, in either a finance or operating lease, of physical assets it owns. Where UBS acts as an intermediate lessor, i.e., where UBS enters into a head l ease and sub-leases the asset to a third party, the sub-lease has been classified as either a finance or operating lease based primarily on whether the sub-lease term consumes the majority of the remaining useful life of the RoU asset arising from the head lease as of the transition date. The following table reconciles the obligations in respect of operating leases as of 31 December 2018 to the opening lease liabilities recognized on 1 January 2019. Reconciliation between operating lease commitments disclosed under IAS 17 and lease liabilities recognized under IFRS 16 USD million Total undiscounted operating lease commitments as of 31 December 2018 4,688 Leases with a remaining term of less than one year as of 1 January 2019 (18) Excluded service components (296) Reassessment of lease term for extension or termination options 403 Total undiscounted lease payments 4,777 Discounted at a weighted average incremental borrowing rate of 3.07% (744) IFRS 16 transition adjustment 4,033 Finance lease liabilities as of 31 December 2018 24 Carrying amount of total lease liabilities as of 1 January 2019 4,057 The following table provide s details about the determination of RoU assets on transition. Determination of RoU assets on transition USD million Carrying amount Recognition of gross RoU assets upon adoption of IFRS 16 (IFRS 16 transition adjustment) 4,033 Offset by liabilities recognized as of 31 December 2018 (521) of which: other non-financial liabilities (lease incentives) (204) of which: other financial liabilities measured at amortized cost (rent accruals) (185) of which: provisions (onerous lease provisions) (132) Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 1 3,512 Reclassification of assets recognized as of 31 December 2018 as an addition to RoU assets 43 of which: other financial assets measured at amortized cost (finance lease assets recognized under IAS 17 as of 31 December 2018) 24 of which: other non-financial assets (prepaid rent) 19 Reclassification of finance lease receivables from sub-leases to other financial assets measured at amortized cost resulting in a reduction of RoU assets (176) Total RoU assets as of 1 January 2019 presented within Property, equipment and software 3,378 1 Total liabilities increased by the same amount upon adoption of IFRS 16. Lease liabilities are presented within Other financial liabilities measured at amortized cost and RoU assets within Property, equipment and software . Finance lease receivables are included within Other financial assets measured at amortized cost . Due to th e practical expedients taken on transition, there was no effect on equity. The weighted average lease term on 1 January 2019 was approximately nine years. The 2019 depreciation expense for RoU assets, which is presented within Depreciation and impairment o f property, equipment and software , was USD 487 million. The 2019 interest expense on lease liabilities, which is presented within Interest expense from financial instruments measured at amortized cost , was USD 122 million. Occupancy expenses, which are pr esented within General and administrative expenses , decreased by USD 533 million between 2018 and 2019, which primarily reflected the adoption of IFRS 16. The full year effect of the application of IFRS 16 was a net decrease in profit before tax of approxi mately USD 60 million. IFRIC 23, Uncertainty over Income Tax Treatments Effective from 1 January 2019, UBS adopted 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 n o 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 l ikely amount. Upon adoption of IFRIC 23 on 1 January 2019, UBS recognized a net tax expense of USD 11 million in retained earnings. Amendments to IAS 19, Employee Benefits Effective from 1 January 2019, UBS adopted 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 reporting period after such an event. The amendments also clarify how the accounting requirements for a plan amendment, curtailment or settlement affect the asset ceiling requirements. The amendments are effective prospectively for plan amen dments, curtailments or settlements that occur on or after 1 January 2019. Adoption on 1 January 2019 had no effect on the Group’s financial statements. Annual Improvements to IFRS Standards 2015–2017 Cycle Effective from 1 January 2019, UBS adopted 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 . Adoption of these amendme nts on 1 January 2019 had no material effect on the Group’s financial statements. |
Other changes to accounting policies | Other changes to presentation or segme nt reporting Presentation of dividend income and expense from financial instruments measured at fair value through profit or loss Effective from 1 January 2019, UBS refined the presentation of dividend income and expense. This resulted in a reclassificatio n of dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss into Other net income from financial instruments measured at fair value through profit or loss (prior to 1 January 2019: Other net income from fair value changes on financial instruments ). The change aligns the presentation of dividends with related fair value changes from equity instruments and economic hedges, removing volatility that has historically arisen within both Net interest incom e and Other net income from financial instruments measured at fair value through profit or loss . There is no effect on Total operating income or Net profit / (loss) . Prior periods have been restated for this presentational change and the effect on the respective reporting lines is outlined in the table below. Changes to the presentation of dividend income and expense from financial instruments measured at fair value through profit or loss For the year ended USD million 31.12.18 31.12.17 Interest income from financial instruments measured at fair value through profit or loss (2,308) (1,762) Interest expense from financial instruments measured at fair value through profit or loss 1,331 1,190 Net interest income (976) (572) Other net income from financial instruments measured at fair value through profit or loss 976 572 Changes to Corporate Center As of 1 January 2019, UBS has operationally combined Group Treasury activities with Group ALM and calls this combined unit Group Treasury. In order to further align Group and divisional perf ormance, UBS adjusted the methodology for the allocation of Group Treasury and Corporate Center – Services funding costs and expenses to the business divisions. At the same time, UBS updated its funds transfer pricing framework to better reflect the source s and usage of funding. All of these changes became effective as of 1 January 2019 and prior-period segment information has been restated. Together, these changes decreased the operating results of the business divisions and thereby increased their adjuste d cost / income ratios 1–2 percentage points, with an offsetting effect of USD 0.7 billion in Corporate Center’s operating profit / (loss) before tax. Corporate Center has retained 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 has increased the allocation of balance sheet resources from Corporate Center to the business divisions, resulting in USD 223 billion of assets allocated from Corporate Center to the business divisions in restated 2018 numbers, predominantly from high-quality liquid assets and certain other asse ts centrally managed on behalf of the business divisions. Further, due to the aforementioned changes to UBS’s methodology for allocating funding costs and expenses and a substantial reduction in the size and resource consumption of the various Corporate C enter units, UBS provides results for total Corporate Center only and does not separately report Corporate Center – Services, Group Treasury and Non-core and Legacy Portfolio, in compliance with IFRS 8, Operating Segments . Prior- period information has been restated. Refer to Note 2 for more information c ) International Financial Reporting Standards and In terpretations to be adopted in 2020 and later and other changes Adoption of h edge a ccounting r equirements of IFRS 9, Financial I nstruments Effective 1 January 2020, UBS will adopt the hedge accounting requirements of IFRS 9 , Financial I nstruments for most of its existing hedge accounting programs, including fair value hedges of interest rate risk related to debt instruments, cash flow hedges of forecast transactions and hedges of net investments in foreign operations. As permitted by IFRS 9, UBS will continue to account for its fair value hedges of portfolio interest rate risk related to loans under IAS 39 , Financial Instruments: Recognition and Measurement . IFRS 9’s hedge accounting model further aligns accounting with risk management practices, amends hedge effectiveness requirements and prohibits voluntary de-designations. IFRS 9 permits certain additional hedged items, including layer components, net positions, or aggregated exposures, such as a combination of a non-derivative and derivative, t o be designated. IFRS 9 also introduces the concept of “cost of hedgin g, ” under which the time value of options, the forward element of a forward contract or foreign currency basis spreads in a cross - currency swap can be deferred in other comprehensive inc ome and , depending on the nature of the hedged transaction, released to the income statement either when the hedged item impacts the income statement or over the term of the hedged item. The adoption of these requirements will have no consequential financ ial impact on UBS’s financial statements . However, the adoption will allow UBS to designate more effective hedge accounting relationships going forward, including fair value hedges of foreign currency risk using cross-currency swaps, and reduce income stat ement volatility caused by foreign currency basis spreads. 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 financ ial reporting and will be used by the IASB in developing IFRS standards. Preparers use the Framework as a point of reference to develop accounting policies in rare instances where a particular business transaction is not covered by existing IFRS standards. The adoption of the Framework by UBS on 1 January 2020 will have no effect on the Group’s financial statements. Amendments to IFRS 3, Business Combinations In October 2018, the IASB issued Definition of a Business (Amendments to IFRS 3) . The am endments clarify the definition of a business, with the objective of assisting in the determination of whether a transaction should be accounted for as a business combination or an asset acquisition. The amendments apply to transactions with an acquisition date on or after 1 January 2020. The adoption of these amendments on 1 January 2020 will have no effect on the Group’s financial statements . IFRS 17, Insurance Contracts In May 2017, the IASB issued IFRS 17, Insurance Contracts , which sets out the account ing requirements for contractual rights and obligations that arise from insurance contracts issued and reinsurance contracts held. IFRS 17 is effective from 1 January 2021; however , as part of the targeted amendments to IFRS 17, the IASB is considering del aying the mandatory implementation date by one year. UBS is assessing the standard , but does not expect it to have a material effect on the Group ’ s financial sta tements . |
UBS AG | |
Disclosure Significant Accounting Policies [Line Items] | |
Transition effects of the initial application of IFRS 16 accounting standard | Note 1 Summary of significant accounting policies (continued) b) Changes in accounting policies, comparability and other adjustments New or amended accounting standards Amendments to IAS 39, IFRS 9 and IFRS 7 (Interest Rate Benchmark Reform) In September 2019, the IASB issued In terest Rate Benchmark Reform – Amendments to IFRS 9, IAS 39 and IFRS 7 , enabling hedge accounting to continue during the period of uncertainty before existing interest rate benchmarks are replaced with alternative risk-free interest rates. The amendments are mandatorily effective from 1 January 2020, with early adoption permitted, and apply to hedge relationships that exist at the beginning of the reporting period or ar e designated thereafter, and to the gains or losses that exist in OCI on adoption. As permitted by the transitional provisions, UBS AG early adopted the revisions in 2019. Adopting these amendments allows UBS AG to maintain its existing hedge accounting re lationships and to assume that the current benchmark rates will continue to exist, such that the hedge relationships are considered highly effective on a retrospective and prospective basis, with no consequential impact on the financial statements. Further , the amendments bring in additional disclosure requirements on the effects arising from the change in interest rate benchmarks, which are presented in Note 28. IFRS 16, Leases Effective from 1 January 2019, UBS AG adopted IFRS 16, Leases , which replaced IAS 17, Leases , and sets out the principles for the recognition, measurement, presentation and disclosure of leases. IFRS 16 introduces a single lessee accounting model and fundamentally changes how UBS AG accounts for operating leases when acting as a le ssee, with a requirement to record a right-of-use (RoU) asset and lease liability on the balance sheet. UBS AG is a lessee in a number of leases, primarily of real estate, including offices, retail branches and sales offices, with a smaller number of IT ha rdware leases. As permitted by the transitional provisions of IFRS 16, UBS AG elected to apply the modified retrospective approach and has not restated comparative figures. Overall, adoption of IFRS 16 resulted in a USD 3.4 billion increase in both total a ssets and total liabilities in UBS AG ’s consolidated financial statements . The newly recognized right-of-use assets and finance lease receivables were fully allocated to the business divisions. There was no effect on equity. Refer to the tables below and on the following page , and Note 2 for more information UBS AG applied the following practical expedients that are permitted on transition to IFRS 16 where UBS AG is a lessee in a lease previously classified as an operating lease: – to not reassess whether or not a contract contained a lease; – to rely on previous assessments of whether such contracts were considered onerous; – to rely on previous sale-and-leaseback assessments; – to adjust lease terms with the benefit of hindsight with respect to whether extension or termination options are reasonably certain of being exercised; – to discount lease liabilities using the UBS AG’s incremental borrowing rate in each currency as of 1 Ja nuary 2019; – to initially measure the RoU asset at an amount equal to the lease liability for leases previously classified as operating leases, adjusted for existing lease balances , such as rent prepayments, rent accruals, lease incentives and onerous lease provisions, but excluding initial direct costs; and – to not apply IFRS 16 to leases the remaining term of which will end within 12 months from the transition date. The measurement of leases previously classified as finance leases where UBS AG acts as a le ssee has not changed on transition to IFRS 16. Similarly, UBS AG has made no adjustments where UBS AG acts as a lessor, in either a finance or operating lease, of physical assets it owns. Where UBS AG acts as an intermediate lessor, i.e., where UBS AG ente rs into a head lease and sub-leases the asset to a third party, the sub-lease has been classified as either a finance or operating lease based primarily on whether the sub-lease term consumes the majority of the remaining useful life of the RoU asset arisi ng from the head lease as of the transition date. The following table reconciles the obligations in respect of operating leases as of 31 December 2018 to the opening lease liabilities recognized on 1 January 2019 Reconciliation between operating lease commitments disclosed under IAS 17 and lease liabilities recognized under IFRS 16 USD million Total undiscounted operating lease commitments as of 31 December 2018 4,546 Leases with a remaining term of less than one year as of 1 January 2019 (18) Excluded service components (296) Reassessment of lease term for extension or termination options 424 Total undiscounted lease payments 4,657 Discounted at a weighted average incremental borrowing rate of 3.07% (720) IFRS 16 transition adjustment 3,937 Finance lease liabilities as of 31 December 2018 19 Carrying amount of total lease liabilities as of 1 January 2019 3,956 The following table provides details about the determination of RoU assets on transition. Determination of RoU assets on transition USD million Carrying amount Recognition of gross RoU assets upon adoption of IFRS 16 (IFRS 16 transition adjustment) 3,937 Offset by liabilities recognized as of 31 December 2018 (515) of which: other non-financial liabilities (lease incentives) (204) of which: other financial liabilities measured at amortized cost (rent accruals) (180) of which: provisions (onerous lease provisions) (131) Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 1 3,422 Reclassification of assets recognized as of 31 December 2018 as an addition to RoU assets 38 of which: other financial assets measured at amortized cost (finance lease assets recognized under IAS 17 as of 31 December 2018) 19 of which: other non-financial assets (prepaid rent) 19 Reclassification of finance lease receivables from sub-leases to other financial assets measured at amortized cost resulting in a reduction of RoU assets (176) Total RoU assets as of 1 January 2019 presented within Property, equipment and software 3,284 1 Total liabilities increased by the same amount upon adoption of IFRS 16. Lease liabilities are presented within Other financial liabilities measured at amortized cost and RoU assets within Property, equipment and software . Finance lease receivables are included within Other financial assets measured at amortized cost . Due to the practical expedients taken on transition, there was no effect on equity. The weighted average lease term on 1 January 2019 was approximately nine years. The 2019 depreciation expense for RoU assets, which is presented within Dep reciation and impairment of property, equipment and software , was USD 463 million. The 2019 interest expense on lease liabilities, which is presented within Interest expense from financial instruments measured at amortized cost , was USD 118 million. Occupa ncy expenses, which are presented within General and administrative expenses , decreased by USD 510 million between 2018 and 2019, which primarily reflected the adoption of IFRS 16. The full year effect of the application of IFRS 16 was a net decrease in pr ofit before tax of approximately USD 60 million. IFRIC 23, Uncertainty over Income Tax Treatments Effective from 1 January 2019, UBS AG adopted IFRIC Interpretation 23, Uncertainty over Income Tax Treatments (IFRIC 23), which addresses how uncertain tax p ositions 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 ultima tely 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 a pproach) or the single most likely amount. Upon adoption of IFRIC 23 on 1 January 2019, UBS AG recognized a net tax expense of USD 11 million in retained earnings. Amendments to IAS 19, Employee Benefits Ef fective from 1 January 2019, UBS AG adopted 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 actuar ial assumption to determine current service cost and net interest for the remainder of the annual reporting period after such an event. The amendments also clarify how the accounting requirements for a plan amendment, curtailment or settlement affect the a sset ceiling requirements. The amendments are effective prospectively for plan amendments, curtailments or settlements that occur on or after 1 January 2019. Adoption on 1 January 2019 had no effect on UBS AG’s financial statements. Annual Improvements to IFRS Standards 2015–2017 Cycle Effective from 1 January 2019, UBS AG adopted 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 . Adoption of these amendments on 1 January 2019 had no material effect on UBS AG ’s financial statements. |
Other changes to accounting policies | Other changes to presentation or segment reporting Presentation of dividend income and expense from financial instruments measured at fair value through profit or loss Effective from 1 January 2019, UBS AG refined the presentation of dividend income and expense. This resulted in a reclassification of dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss into Other net income from financial instruments measured at fair value th rough profit or loss (prior to 1 January 2019: Other net income from fair value changes on financial instruments ). The change aligns the presentation of dividends with related fair value changes from equity instruments and economic hedges, removing volatil ity that has historically arisen within both Net interest income and Other net income from financial instruments measured at fair value through profit or loss . There is no effect on Total operating income or Net profit / (loss) . Prior periods have been res tated for this presentational change and the effect on the respective reporting lines is outlined in the table below. Changes to the presentation of dividend income and expense from financial instruments measured at fair value through profit or loss For the year ended USD million 31.12.18 31.12.17 Interest income from financial instruments measured at fair value through profit or loss (2,308) (1,762) Interest expense from financial instruments measured at fair value through profit or loss 1,331 1,190 Net interest income (976) (572) Other net income from financial instruments measured at fair value through profit or loss 976 572 Changes to Corporate Center As of 1 January 2019, UBS AG has operationally combined Group Treasury activities with Group ALM and calls this combined unit Group T reasury. In order to further align Group and divisional performance, UBS AG adjusted the methodology for the allocation of Group Treasury and Corporate Center – Services funding costs and expenses to the business divisions. At the same time, UBS AG update d its funds transfer pricing framework to better reflect the sources and usage of funding. All of these changes became effective as of 1 January 2019 and prior-period segment information has been restated. Together, these changes decreased the operating re sults of the business divisions and thereby increased their adjusted cost / income ratios 1–2 percentage points, with an offsetting effect of USD 0.7 billion in Corporate Center’s operating profit / (loss) before tax. Corporate Center has retained funding costs for deferred tax assets, costs relating to UBS AG’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 AG’s funds trans fer pricing framework, UBS AG has increased the allocation of balance sheet resources from Corporate Center to the business divisions, resulting in USD 223 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. Further, due to the aforementioned changes to UBS’s methodology for allocating funding costs and expenses and a substantial reduction in the size and resource consumption of the various Corporate Center units, UBS AG provides results for total Corporate Center only and does not separately report Corporate Center – Services, Group Treasury and Non-core and Leg acy Portfolio, in compliance with IFRS 8, Operating Segments . Prior- period information has been restated. Refer to Note 2 for more information c ) International Financial Reporting Standards and In terpretations to be adopted in 2020 and later and other changes Adoption of h edge a ccounting r equirements of IFRS 9, Financial I nstruments Effective 1 January 2020, UBS AG will adopt the hedge accounting requirements of IFRS 9 , Financial I nstruments for most of its existing hedge accounting programs, including fair value hedges of interest rate risk related to debt instruments, cash flow hedges of forecast transactions and hedges of net investments in foreign operations. As permitted by IFRS 9, UBS AG will continue to account for its fair value hedges of portfolio interest rate risk related to loans under IAS 39 , Financial Instruments: Recognition and Measurement . IFRS 9’s hedge accounting model further aligns accounting with risk management practices, amends hedge effectiveness requirements and prohibits voluntary de-designations. IFRS 9 permits certain additional hedged items, including layer components, net positions, or aggregated exposures, such as a combination of a non-derivative and derivative, to be designated. IFRS 9 also introduces the concept of “cost of hedgin g, ” under which the time value of options, the forward element of a forward contract or foreign currency basis spreads in a cross - currency swap can be de ferred in other comprehensive income and , depending on the nature of the hedged transaction, released to the income statement either when the hedged item impacts the income statement or over the term of the hedged item. The adoption of these requirements will have no consequential financial impact on UBS AG ’s financial statements . However, the adoption will allow UBS AG to designate more effective hedge accounting relationships going forward, including fair value hedges of foreign currency risk using cross -currency swaps, and reduce income statement volatility caused by foreign currency basis spreads. 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 and will be used by the IASB in developing IFRS standards. Preparers use the Framework as a point of reference to develop accounting policies in rare instances where a particular business transaction is not covered by existing IFRS standards. The adoption of the Framework by UBS AG on 1 January 2020 will have no effect on its financial statements. Amendments to IFRS 3, Business Combinations In October 2018, the IASB issued Definition of a Business (Amend ments to IFRS 3) . The amendments clarify the definition of a business, with the objective of assisting in the determination of whether a transaction should be accounted for as a business combination or an asset acquisition. The amendments apply to transact ions with an acquisition date on or after 1 January 2020. The adoption of these amendments on 1 January 2020 will have no effect on its financial statements . IFRS 17, Insurance Contracts In May 2017, the IASB issued IFRS 17, Insurance Contracts , which sets out the accounting requirements for contractual rights and obligations that arise from insurance contracts issued and reinsurance contracts held. IFRS 17 is effective from 1 January 2021; however , as part of the targeted amendments to IFRS 17, the IASB is considering delaying the mandatory implementation date by one year. UBS AG is assessing the standard , but does not expect it to have a material effect on its financial sta tements . |
Segment reporting
Segment reporting | 12 Months Ended |
Dec. 31, 2019 | |
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 9 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 Global Weal th Management provides investment advice and solutions to private clients, in particular in the ultra high net worth and high net worth segments. 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 across the regions. Personal & Corporate Banking Personal & Corporate Banking provides comprehensive financial produ cts 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 Global Wealth Mana gement, the Investment Bank and Asset Management 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 capabilit ies to support the growth of the international business activities of UBS’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 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 r egistered investment funds in various jurisdictions. It covers the main asset management markets globally, and has a local presence in 22 markets, grouped in four regions: the Americas; Europe, Middle East and Africa; Switzerland; and Asia Pacific. Invest ment 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 services , capital markets, equities and foreign exchange, complemented by a targeted rates and credit platform. 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 landscapes. The Investment Bank delivers solutions to clients, using its intellectual capital and electronic platforms. It also provides services to Global Wealth Management, Personal & Corporate Bank ing and Asset Management. It has a global reach, with a presence in more than 30 countries and principal offices in the major financial hubs. Corporate Center Corporate Center consists of the Group Chief Operating Officer area (Group Technology, Group Corp orate Services, Group Human Resources and Group Operations), Group Treasury, Group Finance, Group Legal, Group Risk Control, Group Communications & Branding, Group Compliance, Regulatory & Governance, UBS in society, and Non-core and Legacy Portfolio (NCL) . Over recent years, UBS has progressively aligned its support functions with the business divisions. The majority of these functions are either fully aligned or shared among business divisions, where they have full management responsibility. Group Treasur y manages the structural risk of UBS ’ s balance sheet, including interest rate risk, structural foreign exchange risk and collateral risk, as well as the risks associated with the Group’ s liquidity and funding portfolios. Group Treasury serves all business divisions through two main risk management areas, and its risk management is fully integrated into the Gr oup’s risk governance framework . NCL manages legacy positions from businesses exited by the Investment Bank. It is overseen by a committee chaired by t he Group Chief Risk Officer. The portfolio also includes positions relating to legal matters arising from businesses that were transferred to it at the time of its formation. Beginning with the first quarter 2019 and in compliance with IFRS 8, Operating Se gments , UBS provides results for total Corporate Center only and does not separately report Corporate Center – Services, Group Treasury and NCL. Changes in Corporate Center cost and resource allocation to business divisions In order to further align Group and divisional performance, UBS has adjusted its methodology for the allocation of Corporate Center fu nding costs and expenses to the business divisions. At the same time, it has updated its funds transfer pricing framework to better reflect the sources and usage of funding. Additionally, UBS has increased the allocation of balance sheet resources from Cor porate Center to the business divisions. Prior periods have been restated and the effect on the respective reporting lines is outlined in the table below . These changes had no effect on the reported results or financial position of the Group. Upon adoptio n of IFRS 16, Leases , on 1 January 2019, UBS additionally allocated approximately USD 3.5 billion of newly recognized right-of-use assets and finance lease receivables to the business divisions. Refer to Note 1b for more information Segment reporting USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS For the year ended 31 December 2019 1 Net interest income 2 3,947 1,992 (25) (669) (744) 4,501 Non-interest income 2 12,426 1,744 1,962 7,968 367 24,467 Income 16,373 3,736 1,938 7,299 (378) 28,967 Credit loss (expense) / recovery (20) (21) 0 (30) (7) (78) Total operating income 16,353 3,715 1,938 7,269 (385) 28,889 Personnel expenses 7,621 856 722 2,748 4,137 16,084 General and administrative expenses 1,217 224 197 688 2,962 5,288 Services (to) / from Corporate Center and other business divisions 4,056 1,181 486 2,926 (8,648) 0 of which: services from Corporate Center 3,922 1,294 531 2,980 (8,727) 0 Depreciation and impairment of property, equipment and software 5 13 1 8 1,738 1,765 Amortization and impairment of goodwill and intangible assets 3 56 0 0 115 4 175 Total operating expenses 12,955 2,274 1,406 6,485 192 23,312 Operating profit / (loss) before tax 3,397 1,441 532 784 (577) 5,577 Tax expense / (benefit) 1,267 Net profit / (loss) 4,310 Additional information Total assets 309,766 209,405 34,565 315,855 102,592 972,183 Additions to non-current assets 4 68 10 0 1 5,217 5,297 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. 3 Refer to Note 16 for more information. 4 Upon adoption of IFRS 16 on 1 January 2019, UBS additionally allocated approximately USD 3.5 billion of newly recognized assets to the business divisions, of which USD 3.4 billion related to non-current assets. Refer to Note 1b for more information. USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS For the year ended 31 December 2018 1 Net interest income 2 4,101 2,049 (29) (459) (613) 5,048 Non-interest income 2 12,700 2,168 1,881 8,538 (4) 25,283 Income 16,800 4,217 1,852 8,079 (617) 30,330 Credit loss (expense) / recovery (15) (56) 0 (38) (8) (118) Total operating income 16,785 4,161 1,852 8,041 (626) 30,213 Personnel expenses 7,683 803 703 2,941 4,002 16,132 General and administrative expenses 1,724 285 202 651 3,935 6,797 Services (to) / from Corporate Center and other business divisions 4,070 1,263 518 2,942 (8,793) 0 of which: services from Corporate Center 3,936 1,367 563 2,995 (8,861) 0 Depreciation and impairment of property, equipment and software 4 14 2 8 1,199 1,228 Amortization and impairment of goodwill and intangible assets 3 50 0 1 12 2 65 Total operating expenses 13,531 2,365 1,426 6,554 346 24,222 Operating profit / (loss) before tax 3,254 1,796 426 1,486 (971) 5,991 Tax expense / (benefit) 1,468 Net profit / (loss) 4,522 Additional information Total assets 313,737 200,703 28,140 302,253 113,656 958,489 Additions to non-current assets 196 23 1 89 1,666 1,975 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. 3 Refer to Note 16 for more information. USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS For the year ended 31 December 2017 1 Net interest income 2 3,880 2,044 (23) 234 (64) 6,070 Non-interest income 2 12,265 1,814 2,100 7,508 (4) 23,683 Income 3 16,144 3,859 2,077 7,742 (68) 29,754 Credit loss (expense) / recovery (8) (20) 0 (92) (11) (131) Total operating income 16,136 3,839 2,077 7,650 (80) 29,622 Personnel expenses 7,674 852 731 3,006 3,935 16,199 General and administrative expenses 1,263 296 235 675 4,479 6,949 Services (to) / from Corporate Center and other business divisions 3,926 1,203 543 2,860 (8,532) 0 of which: services from Corporate Center 3,803 1,321 582 2,894 (8,601) 0 Depreciation and impairment of property, equipment and software 4 13 1 10 1,024 1,053 Amortization and impairment of goodwill and intangible assets 4 49 0 3 12 7 71 Total operating expenses 12,917 2,364 1,514 6,563 913 24,272 Operating profit / (loss) before tax 3,219 1,475 563 1,087 (993) 5,351 Tax expense / (benefit) 4,305 Net profit / (loss) 1,046 Additional information Total assets 297,631 197,258 17,968 311,359 115,064 939,279 Additions to non-current assets 120 15 1 3 1,607 1,746 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. 3 Includes 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 of USD 15 million, of which USD 12 million was recorded in Asset Management. 4 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 performance is evaluated. These allocations involve assumptions and judgments that management considers to be reasonable, and may be refined to reflect ch anges in estimates or management structure. 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 i s managed. This revenue attribution is consistent with the mandate of the regional Presidents. Certain revenues, such as those related to N on-core and L egacy P ortfolio in Corporate Center, are managed at a Group level. These revenues are included in the Gl obal line. The geographic analysis of non-current assets is based on the location of the entity in which the assets are recorded. For the year ended 31 December 2019 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.0 42 8.9 44 of which: USA 10.9 38 8.5 42 Asia Pacific 4.7 16 1.4 7 Europe, Middle East and Africa (excluding Switzerland) 5.8 20 3.0 15 Switzerland 6.7 23 7.1 35 Global (0.4) (1) 0.0 0 Total 28.9 100 20.3 100 For the year ended 31 December 2018 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.6 42 7.4 43 of which: USA 11.5 38 7.0 41 Asia Pacific 4.9 16 0.9 5 Europe, Middle East and Africa (excluding Switzerland) 6.2 21 2.0 12 Switzerland 7.2 24 6.8 40 Global (0.7) (2) 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 12.0 41 7.4 44 of which: USA 11.2 38 6.9 41 Asia Pacific 4.8 16 0.8 5 Europe, Middle East and Africa (excluding Switzerland) 6.1 21 2.0 12 Switzerland 6.9 23 6.5 40 Global (0.2) (1) 0.0 0 Total 29.6 100 16.7 100 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. |
UBS AG | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Entitys Reportable Segments Explanatory | Note 2 a Segment reporting The op erational structure of UBS AG as of 31 December 201 9 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 Global Weal th Management provides investment advice and solutions to private clients, in particular in the ultra high net worth and high net worth segments. 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 across the regions. Personal & Corporate Banking Personal & Corporate Banking provides comprehensive financial produ cts 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 Global Wealth Mana gement, the Investment Bank and Asset Management 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 capabilit ies 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 & Institution al 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 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, and has a local presence in 22 markets, grouped in four regions: the Americas; Europe, Middle East and Africa; Switzerland; and Asia Pacific. Inves tment 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 service s, capital markets, equities and foreign exchange, complemented by a targeted rates and credit platform. 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 landscapes. The Investment Bank delivers solutions to clients, using its intellectual capital and electronic platforms. It also provides services to Global Wealth Management, Personal & Corporate Ban king and Asset Management. It has a global reach, with a presence in more than 30 countries and principal offices in the major financial hubs. Corporate Center Corporate Center consists of the Group Chief Operating Officer area (Group Technology, Group Cor porate Services, Group Human Resources and Group Operations), Group Treasury, Group Finance, Group Legal, Group Risk Control, Group Communications & Branding, Group Compliance, Regulatory & Governance, UBS in society, and Non-core and Legacy Portfolio (NCL ) . Over recent years, UBS has progressively aligned its support functions with the business divisions. The majority of these functions are either fully aligned or shared among business divisions, where they have full management responsibility. Group Treasu ry manages the structural risk of UBS AG’ s balance sheet, including interest rate risk, structural foreign exchange risk and collateral risk, as well as the risks associated with UBS AG’ s liquidity and funding portfolios. Group Treasury serves all business divisions through two main risk management areas, and its risk management is fully integrated into UBS AG’s risk governance framework . NCL manages legacy positions from businesses exited by the Investment Bank. It is overseen by a committee chaired by the Group Chief Risk Officer. The portfolio also includes positions relating to legal matters arising from businesses that were transferred to it at the time of its formation. Beginning with the first quarter 2019 and in compliance with IFRS 8, Operating Segm ents , UBS AG provides results for total Corporate Center only and does not separately report Corporate Center – Services, Group Treasury and NCL. Changes in Corporate Center cost and resource allocation to business divisions In order to further align Group and divisional performance, UBS AG has adjusted its methodology for the allocat ion of Corporate Center funding costs and expenses to the business divisions. At the same time, it has updated its funds transfer pricing framework to better reflect the sources and usage of funding. Additionally, UBS AG has increased the allocation of bal ance sheet resources from Corporate Center to the business divisions. Prior periods have been restated and the effect on the respective reporting lines is outlined in the table below . These changes had no effect on the reported results or financial positi on of UBS AG . Upon adoption of IFRS 16, Leases , on 1 January 2019, UBS AG additionally allocated approximately USD 3.4 billion of newly recognized right-of-use assets and finance lease receivables to the business divisions. Refer to Note 1b for more information Effects of changes in Corporate Center cost and resource allocation to business divisions on prior-period information USD million increase / (reduction) Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG For the year ended 31 December 2018 Operating profit / (loss) before tax (374) (116) (25) (163) 677 0 Total assets 113,702 61,894 3,769 43,562 (222,927) 0 For the year ended 31 December 2017 Operating profit / (loss) before tax (351) (133) (24) (180) 689 0 Total assets 102,641 58,196 3,329 41,628 (205,795) 0 Segment reporting USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG For the year ended 31 December 2019 1 Net interest income 2 3,947 1,993 (25) (669) (831) 4,415 Non-interest income 2 12,426 1,745 1,962 7,967 869 24,970 Income 16,373 3,737 1,938 7,298 38 29,385 Credit loss (expense) / recovery (20) (21) 0 (30) (7) (78) Total operating income 16,353 3,717 1,938 7,268 31 29,307 Personnel expenses 7,618 852 720 2,732 1,879 13,801 General and administrative expenses 1,283 229 201 738 6,135 8,586 Services (to) / from Corporate Center and other business divisions 4,055 1,179 485 2,922 (8,642) 0 of which: services from Corporate Center 3,922 1,293 530 2,976 (8,721) 0 Depreciation and impairment of property, equipment and software 5 13 1 8 1,549 1,576 Amortization and impairment of goodwill and intangible assets 3 56 0 0 115 4 175 Total operating expenses 13,018 2,274 1,407 6,515 925 24,138 Operating profit / (loss) before tax 3,335 1,443 531 753 (893) 5,169 Tax expense / (benefit) 1,198 Net profit / (loss) 3,971 Additional information Total assets 309,766 209,512 34,565 316,058 102,017 971,916 Additions to non-current assets 4 68 10 0 1 4,935 5,014 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. 3 Refer to Note 16 for more information. 4 Upon adoption of IFRS 16 on 1 January 2019, UBS AG additionally allocated approximately USD 3.4 billion of newly recognized assets to the business divisions, of which USD 3.3 billion related to non-current assets. Refer to Note 1b for more information. USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG For the year ended 31 December 2018 1 Net interest income 2 4,101 2,049 (29) (459) (690) 4,971 Non-interest income 2 12,700 2,169 1,881 8,539 499 25,788 Income 16,801 4,218 1,852 8,080 (191) 30,759 Credit loss (expense) / recovery (15) (56) 0 (38) (8) (117) Total operating income 16,786 4,162 1,852 8,042 (199) 30,642 Personnel expenses 7,680 799 702 2,936 1,875 13,992 General and administrative expenses 1,771 289 206 706 7,104 10,075 Services (to) / from Corporate Center and other business divisions 4,069 1,261 516 2,938 (8,784) 0 of which: services from Corporate Center 3,935 1,365 561 2,991 (8,852) 0 Depreciation and impairment of property, equipment and software 4 14 2 8 1,023 1,052 Amortization and impairment of goodwill and intangible assets 3 50 0 1 12 2 65 Total operating expenses 13,574 2,363 1,427 6,600 1,220 25,184 Operating profit / (loss) before tax 3,212 1,799 425 1,442 (1,419) 5,458 Tax expense / (benefit) 1,345 Net profit / (loss) 4,113 Additional information Total assets 313,737 200,767 28,140 302,434 112,977 958,055 Additions to non-current assets 196 23 1 89 1,449 1,757 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. 3 Refer to Note 16 for more information. USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG For the year ended 31 December 2017 1 Net interest income 2 3,880 2,044 (23) 234 (114) 6,021 Non-interest income 2 12,265 1,815 2,100 7,508 466 24,155 Income 3 16,145 3,859 2,077 7,742 352 30,176 Credit loss (expense) / recovery (8) (20) 0 (92) (11) (131) Total operating income 16,137 3,839 2,077 7,651 341 30,044 Personnel expenses 7,679 849 731 3,007 2,686 14,952 General and administrative expenses 1,308 300 238 728 6,426 9,001 Services (to) / from Corporate Center and other business divisions 3,926 1,200 541 2,858 (8,525) 0 of which: services from Corporate Center 3,803 1,318 580 2,892 (8,593) 0 Depreciation and impairment of property, equipment and software 4 13 1 10 916 945 Amortization and impairment of goodwill and intangible assets 4 49 0 3 12 7 71 Total operating expenses 12,966 2,363 1,515 6,614 1,510 24,969 Operating profit / (loss) before tax 3,171 1,476 562 1,036 (1,169) 5,076 Tax expense / (benefit) 4,242 Net profit / (loss) 834 Additional information Total assets 297,631 197,290 17,968 311,477 115,654 940,020 Additions to non-current assets 120 15 1 3 1,509 1,648 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. 3 Includes 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 of USD 15 million, of which USD 12 million was recorded in Asset Management. 4 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 inco me to these regions reflects, and is consistent 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 structure. 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 ris k is managed. This revenue attribution is consistent with the mandate of the regional Presidents. Certain revenues, such as those related to N on-core and L egacy P ortfolio in Corporate Center, 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 assets are recorded. For the year ended 31 December 2019 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.0 41 8.9 46 of which: USA 10.9 37 8.5 44 Asia Pacific 4.7 16 1.3 7 Europe, Middle East and Africa (excluding Switzerland) 5.8 20 2.6 13 Switzerland 6.7 23 6.5 34 Global 0.0 0 0.0 0 Total 29.3 100 19.3 100 For the year ended 31 December 2018 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.6 41 7.4 46 of which: USA 11.5 37 7.0 43 Asia Pacific 4.9 16 0.8 5 Europe, Middle East and Africa (excluding Switzerland) 6.2 20 1.8 11 Switzerland 7.2 23 6.2 38 Global (0.3) (1) 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 12.0 40 7.4 47 of which: USA 11.2 37 6.9 44 Asia Pacific 4.8 16 0.8 5 Europe, Middle East and Africa (excluding Switzerland) 6.1 20 1.7 10 Switzerland 6.9 23 6.0 38 Global 0.2 1 0.0 0 Total 30.0 100 15.8 100 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. |
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, 2019 | |
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 financial instruments measured at fair value through profit or loss For the year ended USD million 31.12.19 31.12.18 31.12.17 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,490 3,710 5,018 Net interest income from financial instruments measured at fair value through profit or loss 1,011 1,338 1,052 Other net income from financial instruments measured at fair value through profit or loss 6,842 6,960 5,637 Total 11,343 12,008 11,707 Global Wealth Management 4,913 5,049 4,941 of which: net interest income 3,947 4,101 3,880 of which: transaction-based income from foreign exchange and other intermediary activity 1 966 948 1,062 Personal & Corporate Banking 2,436 2,451 2,420 of which: net interest income 1,992 2,049 2,044 of which: transaction-based income from foreign exchange and other intermediary activity 1 443 402 376 Asset Management (13) (35) (34) Investment Bank 4,189 4,756 4,272 Corporate Client Solutions 716 1,051 1,076 Investor Client Services 3,473 3,705 3,196 Corporate Center (182) (214) 107 Net interest income 2,3 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income Interest income from loans and deposits 4 8,008 7,801 7,752 Interest income from securities financing transactions 5 2,005 1,567 1,573 Interest income from other financial instruments measured at amortized cost 364 266 99 Interest income from debt instruments measured at fair value through other comprehensive income 120 142 152 Interest income from derivative instruments designated as cash flow hedges 188 324 846 Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 10,684 10,100 10,422 Interest expense on loans and deposits 6 2,634 1,980 1,404 Interest expense on securities financing transactions 7 1,152 1,130 1,473 Interest expense on debt issued 3,285 3,281 2,528 Interest expense on lease liabilities 8 122 Total interest expense from financial instruments measured at amortized cost 7,194 6,391 5,404 Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,490 3,710 5,018 Net interest income from financial instruments measured at fair value through profit or loss Net interest income from financial instruments at fair value held for trading 1,214 1,105 1,374 Net interest income from brokerage balances 339 575 Interest income from financial instruments at fair value not held for trading 2,274 1,757 Other interest income 185 215 0 Interest expense on financial instruments designated at fair value (3,000) (2,314) (322) Total net interest income from financial instruments measured at fair value through profit or loss 1,011 1,338 1,052 Total net interest income 4,501 5,048 6,070 Other net income from financial instruments measured at fair value through profit or loss Investment Bank Corporate Client Solutions 229 552 633 Investment Bank Investor Client Services 4,630 4,663 3,405 Other business divisions and Corporate Center 1,984 1,744 1,599 Other net income from financial instruments measured at fair value through profit or loss 6,842 6,960 5,637 of which: net gains / (losses) from financial liabilities designated at fair value 9 (8,748) 9,382 (3,979) 1 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 financial instruments measured at fair value through profit or loss. 2 Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. 3 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 4 Consists of interest income from cash and balances at central banks, loans and advances to banks and customers, cash collateral receivables on derivative instruments, and negative interest on amounts due to banks and customer deposits. 5 Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. 6 Consists of interest expense on amounts due to banks, cash collateral payables on derivative instruments, customer deposits, and negative interest on cash and balances at central banks, loans and advances to banks. 7 Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. 8 Relates to lease liabilities recognized upon adoption of IFRS 16 on 1 January 2019. Refer to Note 1b for more information. 9 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 financial instruments measured at fair value through profit or loss. 2019 included a net loss of USD 1,830 million (2018: net gain of USD 2,152 million) related to financial liabilities related to unit-linked investment contracts, which are designated at fair value through profit or loss. This was offset by a net gain of USD 1,830 million (2018: net loss of USD 2,134 million) related to financial assets for unit-linked investment contracts that are mandatorily measured at fair value through profit or loss not held for trading. |
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 financial instruments measured at fair value through profit or loss For the year ended USD million 31.12.19 31.12.18 31.12.17 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,400 3,628 4,969 Net interest income from financial instruments measured at fair value through profit or loss 1,015 1,344 1,052 Other net income from financial instruments measured at fair value through profit or loss 6,833 6,953 5,640 Total 11,248 11,924 11,661 Global Wealth Management 4,913 5,050 4,942 of which: net interest income 3,947 4,101 3,880 of which: transaction-based income from foreign exchange and other intermediary activity 1 966 948 1,062 Personal & Corporate Banking 2,436 2,452 2,420 of which: net interest income 1,993 2,049 2,044 of which: transaction-based income from foreign exchange and other intermediary activity 1 443 402 376 Asset Management (13) (35) (34) Investment Bank 4,187 4,757 4,273 Corporate Client Solutions 716 1,051 1,076 Investor Client Services 3,471 3,705 3,197 Corporate Center (276) (299) 60 Net interest income 2,3 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income Interest income from loans and deposits 4 8,026 7,822 7,766 Interest income from securities financing transactions 5 2,005 1,567 1,573 Interest income from other financial instruments measured at amortized cost 364 266 99 Interest income from debt instruments measured at fair value through other comprehensive income 120 142 152 Interest income from derivative instruments designated as cash flow hedges 188 324 846 Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 10,703 10,121 10,437 Interest expense on loans and deposits 6 4,541 3,566 2,515 Interest expense on securities financing transactions 7 1,152 1,130 1,473 Interest expense on debt issued 1,491 1,797 1,480 Interest expense on lease liabilities 8 118 Total interest expense from financial instruments measured at amortized cost 7,303 6,494 5,468 Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,400 3,628 4,969 Net interest income from financial instruments measured at fair value through profit or loss Net interest income from financial instruments at fair value held for trading 1,218 1,111 1,374 Net interest income from brokerage balances 339 575 Interest income from financial instruments at fair value not held for trading 2,274 1,757 Other interest income 185 215 0 Interest expense on financial instruments designated at fair value (3,000) (2,314) (322) Total net interest income from financial instruments measured at fair value through profit or loss 1,015 1,344 1,052 Total net interest income 4,415 4,971 6,021 Other net income from financial instruments measured at fair value through profit or loss Investment Bank Corporate Client Solutions 229 552 633 Investment Bank Investor Client Services 4,628 4,663 3,406 Other business divisions and Corporate Center 1,976 1,737 1,601 Other net income from financial instruments measured at fair value through profit or loss 6,833 6,953 5,640 of which: net gains / (losses) from financial liabilities designated at fair value 9 (8,748) 9,382 (3,979) 1 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 financial instruments measured at fair value through profit or loss. 2 Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. 3 Effective 1 January 2019, UBS AG refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 4 Consists of interest income from cash and balances at central banks, loans and advances to banks and customers, cash collateral receivables on derivative instruments, and negative interest on amounts due to banks and customer deposits. 5 Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. 6 Consists of interest expense on amounts due to banks, cash collateral payables on derivative instruments, customer deposits, funding from UBS Group AG and its subsidiaries, and negative interest on cash and balances at central banks, loans and advances to banks. 7 Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. 8 Relates to lease liabilities recognized upon adoption of IFRS 16 on 1 January 2019. Refer to Note 1b for more information. 9 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 financial instruments measured at fair value through profit or loss. 2019 included a net loss of USD 1,830 million (2018: net gain of USD 2,152 million) related to financial liabilities related to unit-linked investment contracts, which are designated at fair value through profit or loss. This was offset by a net gain of USD 1,830 million (2018: net loss of USD 2,134 million) related to financial assets for unit-linked investment contracts that are mandatorily measured at fair value through profit or loss not held for trading. |
Net fee and commission income
Net fee and commission income | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 31.12.17 Fee and commission income Underwriting fees 741 811 1,003 of which: equity underwriting fees 360 431 573 of which: debt underwriting fees 382 380 429 M&A and corporate finance fees 774 768 698 Brokerage fees 3,248 3,521 3,820 Investment fund fees 4,858 4,954 4,322 Portfolio management and related services 7,656 7,756 7,666 Other 1,832 1,786 1,854 Total fee and commission income 1 19,110 19,598 19,362 of which: recurring 12,544 12,911 of which: transaction-based 6,402 6,594 of which: performance-based 163 93 Fee and commission expense Brokerage fees paid 310 316 673 Distribution fees paid 590 580 514 Other 797 807 653 Total fee and commission expense 1,696 1,703 1,840 Net fee and commission income 17,413 17,895 17,522 of which: net brokerage fees 2,938 3,205 3,147 1 For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,355 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 94 million for Corporate Center (for the year ended 31 December 2018: 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 31.12.19 31.12.18 31.12.17 Fee and commission income Underwriting fees 784 843 1,029 of which: equity underwriting fees 360 431 573 of which: debt underwriting fees 424 412 456 M&A and corporate finance fees 774 768 698 Brokerage fees 3,248 3,521 3,821 Investment fund fees 4,859 4,955 4,322 Portfolio management and related services 7,656 7,756 7,666 Other 1,836 1,789 1,854 Total fee and commission income 1 19,156 19,632 19,390 of which: recurring 12,545 12,911 of which: transaction-based 6,449 6,629 of which: performance-based 163 93 Fee and commission expense Brokerage fees paid 310 316 673 Distribution fees paid 590 580 514 Other 796 807 653 Total fee and commission expense 1,696 1,703 1,840 Net fee and commission income 17,460 17,930 17,550 of which: net brokerage fees 2,938 3,205 3,148 1 For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,397 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 98 million for Corporate Center (for the year ended 31 December 2018: 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, 2019 | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended USD million 31.12.19 31.12.18 31.12.17 Associates, joint ventures and subsidiaries Net gains / (losses) from acquisitions and disposals of subsidiaries 1 (36) (290) 2,3 32 Net gains / (losses) from disposals of investments in associates 4 46 4 0 Share of net profits of associates and joint ventures 46 529 5 76 Impairments related to associates (1) 0 (7) Total 13 284 101 Net gains / (losses) from disposals of financial assets measured at fair value through other comprehensive income 31 0 195 Impairment of financial assets measured at fair value through other comprehensive income 0 0 (15) Net gains / (losses) from disposals of financial assets measured at amortized cost 0 0 14 Income from properties 6 27 24 24 Net gains / (losses) from properties held for sale (19) 40 0 Other 160 80 204 Total other income 212 428 524 1 Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to the disposal or closure of foreign operations. 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 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. 6 Includes rent received from third parties. |
UBS AG | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended USD million 31.12.19 31.12.18 31.12.17 Associates, joint ventures and subsidiaries Net gains / (losses) from acquisitions and disposals of subsidiaries 1 (36) (292) 2,3 32 Net gains / (losses) from disposals of investments in associates 4 46 4 0 Share of net profits of associates and joint ventures 46 529 5 76 Impairments related to associates (1) 0 (7) Total 13 283 101 Net gains / (losses) from disposals of financial assets measured at fair value through other comprehensive income 31 0 195 Impairment of financial assets measured at fair value through other comprehensive income 0 0 (15) Net gains / (losses) from disposals of financial assets measured at amortized cost 0 0 14 Income from properties 6 27 24 24 Net gains / (losses) from properties held for sale (19) 40 0 Income from shared services provided to UBS Group AG or its subsidiaries 464 478 395 Other 161 80 251 Total other income 677 905 965 1 Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to the disposal or closure of foreign operations. 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 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. 6 Includes rent received from third parties. |
Personnel expenses
Personnel expenses | 12 Months Ended |
Dec. 31, 2019 | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended USD million 31.12.19 31.12.18 31.12.17 Salaries 1 6,518 6,448 6,154 Variable compensation – performance awards 2 2,755 2,995 3,151 of which: guarantees for new hires 29 43 36 Variable compensation – other 2 246 243 252 of which: replacement payments 3 56 72 72 of which: forfeiture credits (86) (136) (107) of which: severance payments 4 125 123 113 of which: retention plan and other payments 56 66 63 of which: Deferred Contingent Capital Plan – interest expense 94 119 111 Financial advisor compensation 2,5 4,043 4,054 4,064 Contractors 381 489 460 Social security 799 791 814 Pension and other post-employment benefit plans 787 457 6 723 Other personnel expenses 555 654 581 Total personnel expenses 16,084 16,132 16,199 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 Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated on the basis of financial advisor productivity, firm tenure, 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. |
UBS AG | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended USD million 31.12.19 31.12.18 31.12.17 Salaries 1 5,183 5,199 5,423 Variable compensation – performance awards 2 2,545 2,794 3,054 of which: guarantees for new hires 29 43 36 Variable compensation – other 2 225 220 231 of which: replacement payments 3 55 68 70 of which: forfeiture credits (84) (136) (106) of which: severance payments 4 110 106 95 of which: retention plan and other payments 52 64 62 of which: Deferred Contingent Capital Plan – interest expense 93 116 110 Financial advisor compensation 2,5 4,043 4,054 4,064 Contractors 147 184 318 Social security 627 629 731 Pension and other post-employment benefit plans 6 569 363 601 Other personnel expenses 461 549 531 Total personnel expenses 13,801 13,992 14,952 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 Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated on the basis of financial advisor productivity, firm tenure, 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 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. |
General and administrative expe
General and administrative expenses | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 31.12.17 Occupancy 1 381 914 908 Rent and maintenance of IT and other equipment 718 654 570 Communication and market data services 627 638 622 Administration 551 590 612 of which: UK and German bank levies 2 41 58 20 Marketing and public relations 317 366 419 Travel and entertainment 378 425 425 Professional fees 882 1,015 1,227 Outsourcing of IT and other services 1,158 1,427 1,597 Litigation, regulatory and similar matters 3 165 657 434 Other 111 110 135 Total general and administrative expenses 5,288 6,797 6,949 1 Occupancy expenses decreased following the application of IFRS 16, which was adopted on 1 January 2019. Refer to Note 1b for more information. 2 The UK bank levy expenses of USD 30 million (USD 40 million for 2018 and USD 17 million for 2017) included a credit of USD 31 million (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 11 million, USD 29 million and USD 55 million for the years ended 31 December 2019, 31 December 2018 and 31 December 2017, 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 31.12.19 31.12.18 31.12.17 Occupancy 1 342 852 865 Rent and maintenance of IT and other equipment 339 326 422 Communication and market data services 517 520 544 Administration 5,176 5,383 3,644 of which: shared services costs charged by UBS Group AG or its subsidiaries 4,621 4,803 3,046 of which: UK and German bank levies 2 41 58 20 Marketing and public relations 233 277 338 Travel and entertainment 325 367 382 Professional fees 782 870 1,086 Outsourcing of IT and other services 610 729 1,169 Litigation, regulatory and similar matters 3 165 657 434 Other 97 95 118 Total general and administrative expenses 8,586 10,075 9,001 1 Occupancy expenses decreased following the application of IFRS 16, which was adopted on 1 January 2019. Refer to Note 1b for more information. 2 The UK bank levy expenses of USD 30 million (USD 40 million for 2018 and USD 17 million for 2017) included a credit of USD 31 million (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 11 million, USD 29 million and USD 55 million for the years ended 31 December 2019, 31 December 2018 and 31 December 2017, respectively. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Taxes [Line Items] | |
Disclosure Of Income Tax Explanatory | Note 8 Income taxes For the year ended USD million 31.12.19 31.12.18 31.12.17 Tax expense / (benefit) Swiss Current 365 469 455 Deferred 265 2,377 107 Total Swiss 630 2,846 562 Non-Swiss Current 426 575 435 Deferred 211 (1,953) 3,308 Total non-Swiss 637 (1,378) 3,743 Total income tax expense / (benefit) recognized in the income statement 1,267 1,468 4,305 Income tax recognized in the income statement Income tax expenses of USD 1,267 million were recognized for the Group in 2019, representing an effective tax rate of 22.7%. This include d net Swiss tax expenses of USD 630 million and net non-Swiss tax expenses of USD 637 million . The Swiss tax expenses included current tax expense s of USD 365 million related to taxable profits earned by Swiss subsidiaries. In addition, they included deferred tax expenses of USD 265 million, which primarily reflect the amortization of deferred tax assets (DTAs) previously recognized in relation to d eductible temporary differences . The non-Swiss tax expenses inclu ded current tax expenses of USD 426 million related to taxable profits earned by non-Swiss subsidiaries and branches. In addition, they included deferred t ax expenses of USD 211 million. Th e se included expenses of USD 471 million that primarily reflected the amortization of DTAs previously recognized in relation to tax losses carried forward and deductible temporary differences, including the amortization of US tax loss DTAs at the level of UBS Americas I nc. These were pa rtly offset by a benefit of USD 260 million in respect of additional DTA recognition that resulted from the contribution of real estate assets by UBS AG to UBS Americas Inc. in the year. The additional DTA recognition related to the elections that were made in the fourth quarter of 2018 to capitalize certain historic real estate costs . For the year ended USD million 31.12.19 31.12.18 31.12.17 Operating profit / (loss) before tax 5,577 5,991 5,351 of which: Swiss 2,571 1,843 2,093 of which: non-Swiss 3,006 4,148 3,258 Income taxes at Swiss tax rate of 20.5% for 2019 and 21% for 2018 and 2017 1,143 1,258 1,124 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 82 55 217 Tax effects of losses not recognized 131 223 173 Previously unrecognized tax losses now utilized (265) (25) (368) Non-taxable and lower taxed income (351) (430) (309) Non-deductible expenses and additional taxable income 732 905 606 Adjustments related to prior years – current tax (5) 114 (13) Adjustments related to prior years – deferred tax (6) 26 4 Change in deferred tax recognition (294) (795) (165) Adjustments to deferred tax balances arising from changes in tax rates (9) 0 2,897 Other items 107 137 139 Income tax expense / (benefit) 1,267 1,468 4,305 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 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, an adjustment from the tax expense that would arise at the Swiss tax rate to the tax expense that would arise at the applica ble local tax rate. Similarly, it reflects, for such losses, an adjustment from the tax benefit that would arise at the Swiss tax rate to the tax benefit that would arise at the applicable local tax rate. Tax effects of losses not recognized This item rela tes 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 calculated by applying the local tax rate to those losses as described above is r eversed . 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 previously recorded. Consequently, no current tax or deferred tax expense arise s in relation to those taxable profits. Therefore, the tax expense calculated by applying the local tax 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 differenc es. 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 tax purposes, which are not reflected in the accounts . Non-deductible expen ses 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 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 is agreed with the tax authorities in an amount that differs from the amount previously reflected in the financial statements. Adjustments related to prior years – def erred 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 agreed with the tax authorities is expected to differ from the amount previous ly 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 dif ferences in the year, for which deferred tax is not recognized . 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 from taxable temporary differences and there fore 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 movements in provisions for uncertain positions in relation to the cur rent 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 expense of USD 326 million recognized in other comprehensive income (OCI) (2018: net benefit of USD 345 million), which included a tax expense of USD 253 million related to cash flow hedges (2018: benefit of USD 67 million), a tax expense of USD 41 million related to financial assets recognized at fair value th rough OCI (2018: benefit of USD 12 million), a tax expense of zero related to foreign currency translation gains a nd losses (2018: expense of USD 2 million), a tax expense of USD 41 million related to defined benefit pension plans (2018: benefit of USD 276 mi llion) and a tax benefit of USD 8 million related to o wn credit (2018: expense of USD 8 million) ; – a net tax benefit of USD 11 million recognized in shar e premium (2018: benefit of USD 4 million) . Deferred tax assets and liabilities The Group has gross DTAs, valuation allowances and recognized DTAs related to tax loss carry-forwards and deductible temporary difference s 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 recognized DTAs as of 31 December 2019, USD 9.3 bi llion related to the US and USD 0.2 billion relat ed to other locations (as of 31 December 2018, USD 9.5 bi llion r elated to the US and USD 0.6 billion related to other locations) . The recognition of DTAs is supported by forecasts of taxable profits for the entities concerned. In addition, tax planning opportunities are available that would result in additional future taxable income and these would be utilized, if necessary. As of 31 December 2019, the G roup has recognized DTAs of USD 75 million (31 December 2018: USD 53 million) in respect of entities that incurred losses in either the current or preceding year. USD million 31.12.19 31.12.18 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 14,826 (8,861) 5,965 15,088 (8,989) 6,099 Temporary differences 4,186 (613) 3,572 4,571 (565) 4,006 of which: related to real estate costs capitalized for US tax purposes 2,219 0 2,219 2,159 (25) 2,134 of which: related to compensation and benefits 1,080 (179) 901 1,150 (192) 959 of which: related to trading assets 99 (5) 93 390 (50) 339 of which: related to investments in subsidiaries and goodwill 6 0 6 202 0 202 of which: other 782 (429) 353 670 (298) 372 Total deferred tax assets 19,011 (9,474) 9,537 19,659 (9,554) 10,105 Deferred tax liabilities Goodwill and intangible assets 29 26 Cash flow hedges 156 0 Other 126 62 Total deferred tax liabilities 311 88 1 Less deferred tax liabilities as applicable. Unrecognized tax loss carry-forwards USD million 31.12.19 31.12.18 Within 1 year 13 0 From 2 to 5 years 609 464 From 6 to 10 years 14,712 16,297 From 11 to 20 years 4,030 4,457 No expiry 18,364 17,210 Total 37,728 38,428 As of 31 December 2019, USD 17.8 billion of the unrecognized tax losses carried forward related to the US, USD 14.9 bi llion related to the UK and USD 5.0 billion related to other locatio ns (as of 31 December 2018, USD 20.0 billion related to the US, USD 14.2 bi llion related to the UK and USD 4.2 billion related to other locations). In general, US federal tax lo sses incurred prior to 31 December 2017 can be carried forward for 20 years, and US feder al tax losses incurred after 31 December 2017 and UK tax losses can be carried forward indefinitely. 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, e xcept to the extent that 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 forese eable future. However, as of 31 December 2019, this exception was not consider ed to apply to any taxable temporary differences . |
UBS AG | |
Income Taxes [Line Items] | |
Disclosure Of Income Tax Explanatory | Note 8 Income taxes For the year ended USD million 31.12.19 31.12.18 31.12.17 Tax expense / (benefit) Swiss Current 336 434 408 Deferred 246 2,326 91 Total Swiss 582 2,760 499 Non-Swiss Current 402 537 435 Deferred 214 (1,952) 3,308 Total non-Swiss 616 (1,415) 3,743 Total income tax expense / (benefit) recognized in the income statement 1,198 1,345 4,242 Income tax recognized in the income statement Income tax expenses of USD 1,198 million were recognized for UBS AG in 2019, representing an effective tax rate of 23.2 %. This include d net Swiss tax expenses of USD 582 million and net non-Swiss tax expenses of USD 616 million . The Swiss tax expenses included current tax expenses of USD 336 million related to taxable profits earned by Swiss subsidiaries. In addition, they included deferred tax expenses of USD 246 million, which primarily reflect the amortization of deferred tax asse ts (DTAs) previously recognized in relation to deductible temporary differences . The non-Swiss tax expenses inclu ded current tax expenses of USD 402 million related to taxable profits earned by non-Swiss subsidiaries and branches. In addition, they included deferred t ax expenses of USD 214 million. Th ese included expenses of USD 474 million that primarily reflected the amortization of DTAs previously recognized in relation to tax losses carried forward and deductible temporary differences, including the amortization of US tax loss DTAs at the level of UBS Americas I nc. These were pa rtly offset by a benefit of USD 260 million in respect of additional DTA recognition that resulted from the contribution of real estate assets by UBS AG to UBS Americas Inc. in the year. The additional DTA recognition related to the elections that were made in the fourth quarter of 2018 to capitalize certain historic real estate costs . For the year ended USD million 31.12.19 31.12.18 31.12.17 Operating profit / (loss) before tax 5,169 5,458 5,076 of which: Swiss 2,297 1,427 1,911 of which: non-Swiss 2,872 4,031 3,165 Income taxes at Swiss tax rate of 20.5% for 2019 and 21% for 2018 and 2017 1,060 1,146 1,066 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 72 68 230 Tax effects of losses not recognized 131 222 173 Previously unrecognized tax losses now utilized (265) (25) (368) Non-taxable and lower taxed income (305) (419) (306) Non-deductible expenses and additional taxable income 713 883 588 Adjustments related to prior years – current tax 1 114 (14) Adjustments related to prior years – deferred tax (6) 27 6 Change in deferred tax recognition (293) (802) (165) Adjustments to deferred tax balances arising from changes in tax rates (9) 0 2,897 Other items 99 130 135 Income tax expense / (benefit) 1,198 1,345 4,242 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 losse s arise outside Switzerland, the applicable local tax rate may differ from the Swiss tax rate. This item reflects, for such profits, an adjustment from the tax expense that would arise at the Swiss tax rate to the tax expense that would arise at the applic able local tax rate. Similarly, it reflects, for such losses, an adjustment from the tax benefit that would arise at the Swiss tax rate to the tax benefit that would arise at the applicable local 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 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 profits 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 a rises in relation to those taxable profits. Therefore, the tax expense calculated by applying the local tax 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 diffe rences. 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 tax purposes, which are not reflected in the accounts . Non-deductible e xpenses 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 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 is agreed with the tax authorities in an amount that differs from the amount previously reflected in the financial statements. Adjustments related to prior y ears – 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 agreed with the tax authorities is expected to differ from the amoun t 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 tem porary differences in the year, for which deferred tax is not recognized . 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 from 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 movements 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 expense of USD 327 million recognized in other comprehensive income (OCI) (2018: net benefit of USD 314 million), which included a tax expense of USD 253 million related to cash flow hedges (2018: benefit of USD 67 million), a tax expense of USD 41 million related to financial assets recognized at fair value th rough OCI (2018: benefit of USD 12 million), a tax expense of USD 1 million related to foreign currency translation gains a nd losses (2018: expense of USD 2 million), a tax expense of USD 41 million related to defined benefit pension plans (2018: benefit of USD 245 mi llion) and a tax benefit of USD 8 million related to o wn credit (2018: expens e of USD 8 million) ; – a net tax benefit of USD 11 million recognized in shar e premium (2018: benefit of USD 5 million) . Deferred tax assets 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 recognized DTAs as of 31 December 2019, USD 9.3 bi llion related to the US and USD 0.2 billion relat ed to other locations (as of 3 1 December 2018, USD 9.5 bi llion related to the US and USD 0.6 billion related to other locations) . The recognition of DTAs is supported by forecasts of taxable profits for the entities concerned. In addition, tax planning opportunities are available that would result in additional future taxable income and these would be utilized, if necessary. As of 31 December 2019, UBS AG has recognized DTAs of USD 75 million (31 December 2018: USD 53 million) in respect of entities that incurred losses in either the current or preceding year. USD million 31.12.19 31.12.18 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 14,826 (8,861) 5,965 15,088 (8,989) 6,099 Temporary differences 4,158 (610) 3,548 4,526 (559) 3,967 of which: related to real estate costs capitalized for US tax purposes 2,219 0 2,219 2,159 (25) 2,134 of which: related to compensation and benefits 1,075 (179) 896 1,146 (192) 954 of which: related to trading assets 99 (5) 93 390 (50) 339 of which: related to investments in subsidiaries and goodwill 0 0 0 179 0 179 of which: other 765 (426) 340 653 (292) 361 Total deferred tax assets 18,984 (9,471) 9,513 19,614 (9,548) 10,066 Deferred tax liabilities Goodwill and intangible assets 29 26 Cash flow hedges 156 0 Other 126 62 Total deferred tax liabilities 311 88 1 Less deferred tax liabilities as applicable. Unrecognized tax loss carry-forwards USD million 31.12.19 31.12.18 Within 1 year 13 0 From 2 to 5 years 609 464 From 6 to 10 years 14,712 16,297 From 11 to 20 years 4,030 4,457 No expiry 18,364 17,210 Total 37,728 38,428 As of 31 December 2019, USD 17.8 billion of the unrecognized tax losses carried forward related to the US, USD 14.9 bi llion related to the UK and USD 5.0 billion related to other locatio ns (as of 31 December 2018, USD 20.0 billion related to the US, USD 14.2 bi llion related to the UK and USD 4.2 billion related to other locations). In general, US federal tax losses incurred prior to 31 December 2017 can be carried forward for 20 years, and US feder al tax losses incurred after 31 December 2017 and UK tax losses can be carried forward i ndefinitely. 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 that UBS AG can control the timing of the reversal of the associated taxable temporary difference and it is probable that it will not reverse in the forese eable future. However, as of 31 December 2019, 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, 2019 | |
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 31.12.19 31.12.18 31.12.17 Basic earnings (USD million) Net profit / (loss) attributable to shareholders 4,304 4,516 969 Diluted earnings (USD million) Net profit / (loss) attributable to shareholders 4,304 4,516 969 Less: (profit) / loss on own equity derivative contracts 0 (2) 0 Net profit / (loss) attributable to shareholders for diluted EPS 4,304 4,514 969 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 1 3,663,278,238 3,730,297,877 3,716,174,261 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 103,881,600 111,271,269 120,540,272 Weighted average shares outstanding for diluted EPS 3,767,159,838 3,841,569,146 3,836,714,533 Earnings per share (USD) Basic 1.17 1.21 0.26 Diluted 1.14 1.18 0.25 Shares outstanding Shares issued 3,859,055,395 3,855,634,749 3,853,096,603 Treasury shares 243,021,296 166,467,802 132,301,550 Shares outstanding 3,616,034,099 3,689,166,947 3,720,795,053 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 31.12.19 31.12.18 31.12.17 Potentially dilutive instruments Employee share-based compensation awards 1 3,605,198 24,124,341 Other equity derivative contracts 21,632,879 11,912,450 9,122,496 Total 21,632,879 15,517,648 33,246,837 1 The last remaining option awards and stock appreciation rights expired during 2019. |
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 9 , 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, 2019 | |
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 about financial instruments and certain other credit lines that are subject to expected credit loss ( ECL ) requirements . UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based on shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below . Refer to Note 23 for more information about expected credit loss measurement Segment Segment description Description of credit risk sensitivit y 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 – Investment Bank Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonalit y, 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 , 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) – 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 Banking Financial intermediaries and hedge funds Lending to financial institutions and pension funds, including exposures to broker-dealers and clearing houses Sensitive to GDP development, the interest rate environment, regulatory changes and political risk – Personal & Corporate Banking – Investment Bank – Corporate Center Refer to Note 23g for more details regarding sensitivity For amortized cost instruments, the net carrying amount 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 amount of these financial assets. Rather, t he carrying amount of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets have been recogn ized 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 othe r credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on the maximum contractual amounts . USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,447 12,367 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 326,786 309,499 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 22,980 21,953 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 576,815 558,420 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 583,159 564,765 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. Coverage ratios are calculated by taking ECL allowances and pro visions divided by the gross carrying amount of the exposures. These ratios have remained broadly unchanged in 2019 and are influenced by the following key factors: – s ignificant asset balances are held with central banks as part of the requirement to hold hig h- quality liquid asset s ; – L ombard loans are secured with marketable securities in portfolios which are in general highly diversified with strict lending policies that are intended to ensure that credit risk is minimal under most circumstances ; – m ortgage loans to private clients and real estate financing are controlled by conservative eligibility criteria , including low loan-to-value ratio s and strong debt service capabilit ies . T he risk of rising interest rates has been taken into account in the scenario selection process ; – the amount of u nsecured retail lending (including credit cards) in Switzerland is insignificant ; – contractual maturities in the loan portfolio , which are a factor in the calculation of ECL s , are generally short, with a large part of the loan portfolio having contractual matur ities of 12 month or less; – for example, the carrying amount of Swiss residential mortgage loans would cont inue to be fully covered or 98% covered by real estate collateral, even if the value of that collateral decreased by 20% or 30% , respectively . Certain assets reported in s tage 2 within the P rivate clients with mortgages and Real estate financ ing segments did not have a comparable ra ting on origination upon which to base the assessment of whether a significant increase in credit risk (SICR) has occurred. In accordance with the IFRS 9 transition requirements , a lifetime ECL has been recognized for these assets. In the medium term and based on the current economic outlook, UBS expect s the proportion of these s tage 2 assets to reduce to some extent. 31.12.19 Gross carrying amount (USD million) ECL coverage (bps) Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Loans and advances to customers 327,550 309,581 15,661 2,308 23 3 79 2,420 of which: Private clients with mortgages 132,756 124,077 7,679 1,000 8 1 72 406 of which: Real estate financing 38,524 32,937 5,567 21 11 2 62 1,765 of which: Large corporate clients 9,819 9,199 429 192 119 16 100 5,088 of which: SME clients 12,089 9,834 1,464 791 251 18 104 3,420 of which: Lombard 112,915 112,799 0 116 2 0 0 1,566 of which: Credit cards 1,696 1,322 339 35 205 60 404 3,718 of which: Commodity trade finance 2,925 2,831 8 87 278 17 3 8,844 Other financial assets measured at amortized cost 23,123 21,988 463 672 62 16 274 1,420 of which: Loans to financial advisors 2,987 2,370 344 272 366 122 305 2,570 Total financial assets measured at amortized cost 577,730 558,544 16,206 2,981 16 2 84 2,198 Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,075 564,888 16,206 2,981 16 2 84 2,198 Gross exposure (USD million) ECL coverage (bps) Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,142 17,757 304 82 23 4 30 4,032 Irrevocable loan commitments 27,547 27,078 419 50 13 11 120 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 10 5 143 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 8 8 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 13 7 120 1,822 Total allowances and provisions 29 9 204 4,020 As explained in Note 1a, the assessment of an SICR considers a number of qualitative and quantitative factors to determine if a stage transfer between stage 1 and stage 2 is required. The primary assessment considers changes in probability of default ( PD ) based on rating analyses and economic outlook . Additionally, UBS considers counterparties that have moved to a credit watch list and those with payments that are 30 days past due. USD million ECL allowances / provisions Financial instruments measured at amortized cost Total Stage 1 Stage 2 of which: PD layer of which: watch list of which: ≥30 days past due Stage 3 Mortgages, business loans and related off-balance sheet commitments in the region Switzerland 723 89 137 93 6 38 497 of which: Private clients with mortgages 90 11 53 40 0 13 27 of which: Real estate financing 59 8 47 36 0 11 4 of which: Large corporate clients 57 6 4 0 4 0 47 of which: SME clients 310 25 9 6 2 1 276 of which: Lombard 3 2 0 0 0 0 1 of which: Leasing 42 6 12 11 0 1 24 of which: Credit cards 33 9 11 0 0 11 12 of which: Other 130 23 2 2 0 0 106 |
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 about financial instruments and certain other credit lines that are subject to expected credit loss ( ECL ) requirements . UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based on shared risk chara cteristics and on the same or similar rating methods applied. The key segments are presented in the table below . Refer to Note 23 for more information about expected credit loss measurement Segment Segment description Descriptio n 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 – Investment Bank Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonalit y, 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 , 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) – 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 Banking Financial intermediaries and hedge funds Lending to financial institutions and pension funds, including exposures to broker-dealers and clearing houses Sensitive to GDP development, the interest rate environment, regulatory changes and political risk – Personal & Corporate Banking – Investment Bank – Corporate Center Refer to Note 23g for more details regarding sensitivity For amortized cost instruments, the net carrying amount represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other c omprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying amount of these financial assets. Rather, t he carrying amount of financial assets measured at FVOCI represents t he maximum exposure to credit risk. No purchased credit-impaired financial assets have been 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 addi tion 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 the maximum co ntractual amounts . USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,379 12,298 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 327,992 310,705 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 23,012 21,985 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 577,985 559,590 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,329 565,935 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. Coverage ratios are calculated by taking ECL allowances and pro visions divided by the gross carrying amount of the exposures. These ratios have remained broadly unchanged in 2019 and are influenced by the following key factors: – s ignificant asset balances are held with central banks as part of the requirement to hold hig h- quality liquid asset s ; – L ombard loans are secured with marketable securities in portfolios which are in general highly diversified with strict lending policies that are intended to ensure that credit risk is minimal under most circumstances ; – m ortgage loans to private clients and real estate financing are controlled by conservative eligibility criteria , including low loan-to-value ratio s and strong debt service capabilit ies . T he risk of rising interest rates has been taken into account in the scenario selection process ; – the amount of u nsecured retail lending (including credit cards) in Switzerland is insignificant ; – contractual maturities in the loan portfolio , which are a factor in the calculation of ECL s , are generally short, with a large part of the loan portfolio having contractual maturities of 12 month or less; – for example, the carrying amount of Sw iss residential mortgage loans would continue to be fully covered or 98% covered by real estate collateral, even if the value of that collateral decreased by 20% or 30% , respectively. Certain assets reported in s tage 2 within the P rivate clients with mortgages and Real estate financ ing segments did not have a comparable ra ting on origination upon which to base the assessment of whether a significant increase in credit risk (SICR) has occurred. In accordance with the IFRS 9 transition requirements , a lifetime ECL has been recognized for these assets. In the medium term and based on the current economic outlook, UBS expect s the proportion of these s tage 2 assets to reduce to some extent. 31.12.19 Gross carrying amount (USD million) ECL coverage (bps) Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Loans and advances to customers 328,756 310,787 15,661 2,308 23 3 79 2,420 of which: Private clients with mortgages 132,756 124,077 7,679 1,000 8 1 72 406 of which: Real estate financing 38,524 32,937 5,567 21 11 2 62 1,765 of which: Large corporate clients 9,819 9,199 429 192 119 16 100 5,088 of which: SME clients 12,089 9,834 1,464 791 251 18 104 3,420 of which: Lombard 112,915 112,799 0 116 2 0 0 1,566 of which: Credit cards 1,696 1,322 339 35 205 60 404 3,718 of which: Commodity trade finance 2,925 2,831 8 87 278 17 3 8,844 Other financial assets measured at amortized cost 23,154 22,019 463 672 62 16 274 1,420 of which: Loans to financial advisors 2,987 2,370 344 272 366 122 305 2,570 Total financial assets measured at amortized cost 578,899 559,714 16,206 2,981 16 2 84 2,198 Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 585,245 566,059 16,206 2,981 16 2 84 2,198 Gross exposure (USD million) ECL coverage (bps) Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,142 17,757 304 82 23 4 30 4,032 Irrevocable loan commitments 27,547 27,078 419 50 13 11 120 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 9 5 143 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 8 8 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 13 7 120 1,822 Total allowances and provisions 29 9 204 4,020 As explained in Note 1a, the assessment of an SICR considers a number of qualitative and quantitative factors to determine if a stage transfer between stage 1 and stage 2 is required. The primary assessment considers changes in probability of default ( PD ) based on rating analyses and economic outlook . Additionally, UBS considers counterparties that have moved to a credit watch list and those with payments that are 30 days past due. USD million ECL allowances / provisions Financial instruments measured at amortized cost Total Stage 1 Stage 2 of which: PD layer of which: watch list of which: ≥30 days past due Stage 3 Mortgages, business loans and related off-balance sheet commitments in the region Switzerland 723 89 137 93 6 38 497 of which: Private clients with mortgages 88 11 53 40 0 13 27 of which: Real estate financing 59 8 47 36 0 11 4 of which: Large corporate clients 57 6 4 0 4 0 47 of which: SME clients 310 25 9 6 2 1 276 of which: Lombard 3 2 0 0 0 0 1 of which: Leasing 42 6 12 11 0 1 24 of which: Credit cards 33 9 11 0 0 11 12 of which: Other 128 23 2 2 0 0 106 |
Derivative instruments
Derivative instruments | 12 Months Ended |
Dec. 31, 2019 | |
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 . Under the final rules of the Basel Committee on Banking Supervision (BCBS) and the Board of the International Organization of Securities Commissions (IOSCO) promulgated in July 201 9, the final phase- in of margin requirements for non-centrally cleared der ivatives will be completed on 1 September 2021. The industry continues to promote the use of central counterparties (CCPs) to clear OTC trades. The trend toward CCP clearing and settlement will general ly 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 derivati ves (ETD) contracts. Exchanges offer the benefits 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 derivative instruments . Changes in the replacement values of derivatives are recorded in Other net income from financial instruments measured at fair value through profit or loss , except for interest on derivatives designated as hedging instruments in effective hedge accounting relationships 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 about derivative financial assets and liabilities after consideration of netting potential allowed under enforceable netting arrangements T he Group uses various derivative instruments for both trading and hedging purposes. Derivative product types as well as valuation principles and techniques applied by the Group are described in Note 24 . Positive replacement values represent the es timated amount the Group would receive if the derivative contract were sold on the balance sheet date. Negative replacement values i ndicate the estimated amount the Group would pay to transfer its obligations in respect of the underlying contract were it r equired or entitled to do so on the balance sheet date. Derivatives embedded in other financial instruments are not included in the “Derivative instruments” table within this Note. Bifurcated embedded derivatives are presented on the same balance sheet lin e as the host contract. In cases where UBS applies the fair value option to hybrid instruments, bifurcation 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 Note 11 Derivative instruments (continued) Derivative instruments ¹ , ² 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 2.8 0.3 5.1 3,136.8 0.0 1.4 0.1 3.1 2,873.9 Swaps 34.3 454.7 26.2 402.9 8,086.0 29.5 459.8 23.5 441.8 7,189.1 Options 8.1 464.8 10.0 486.1 7.6 562.2 9.0 550.0 Exchange-traded contracts Futures 546.9 516.1 Options 0.0 84.4 0.0 66.6 229.5 0.0 27.7 0.0 26.3 199.7 Agency transactions 5 0.1 0.1 0.0 0.1 Total 42.6 1,006.6 36.6 960.7 11,999.2 37.1 1,051.1 32.7 1,021.3 10,778.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 65.0 2.2 66.0 1.7 68.8 2.1 73.2 Total return swaps 0.3 2.0 0.8 3.3 0.2 3.0 0.6 3.7 Options and warrants 0.0 3.3 0.0 0.6 0.0 2.7 0.0 1.4 Total 2.0 70.2 3.0 69.9 1.9 74.5 2.7 78.3 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 22.4 935.3 23.4 966.6 20.3 708.7 20.9 731.2 Interest and currency swaps 22.8 1,573.2 23.8 1,418.5 24.8 1,299.7 24.6 1,203.5 Options 7.3 660.9 6.8 604.9 8.3 613.8 7.8 577.4 Exchange-traded contracts Futures 1.2 0.4 Options 0.0 4.0 0.0 3.8 0.0 3.6 0.0 5.3 Agency transactions 5 0.0 0.0 0.0 0.1 Total 52.5 3,173.4 54.0 2,993.8 1.2 53.5 2,625.7 53.4 2,517.3 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 4.0 81.3 5.5 96.3 4.7 78.5 5.6 86.3 Options 5.0 88.6 6.8 144.1 5.5 97.6 7.2 139.6 Exchange-traded contracts Futures 84.9 71.7 Options 7.2 250.4 7.8 294.1 37.2 10.1 232.8 9.0 262.8 34.1 Agency transactions 5 6.6 5.4 11.2 13.3 Total 22.8 420.3 25.5 534.5 122.1 31.4 408.9 35.0 488.8 105.9 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 4.2 0.2 5.7 0.1 3.2 0.1 3.4 Swaps 0.4 13.8 0.6 15.1 0.7 15.2 0.4 9.9 Options 1.0 27.4 0.4 23.6 0.4 18.6 0.3 16.1 Exchange-traded contracts Futures 12.0 8.5 Forward contracts 0.0 5.9 0.0 4.9 0.0 6.6 0.0 5.4 Options 0.1 4.8 0.1 10.7 0.6 0.1 2.9 0.0 3.7 0.1 Agency transactions 5 0.3 0.5 0.4 0.7 Total 1.8 56.1 1.7 60.0 12.6 1.8 46.4 1.5 38.5 8.6 Unsettled purchases of non-derivative financial instruments 6 0.1 16.6 0.1 6.9 0.2 17.0 0.1 6.0 Unsettled sales of non-derivative financial instruments 6 0.1 15.4 0.1 9.7 0.4 15.1 0.2 13.2 Total derivative instruments, based on IFRS netting 7 121.8 4,758.6 120.9 4,635.4 12,135.1 126.2 4,238.6 125.7 4,163.4 10,893.6 1 Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in Note 34 under Loan commitments. 2 Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 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. 5 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. 6 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 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. 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. Notion al 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 of deri vatives entered into by the Group. On a notio nal value basis, approximately 54 % of OTC interest rate contracts held as of 31 December 2019 ( 31 December 2018 : 5 6 %) mature within one year, 28 % ( 31 December 2018 : 28% ) within one to five years and 18 % ( 31 December 2018 : 1 6 %) 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 b asis of contractual maturities of the cleared 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 structuri ng 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 to 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 relate d 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 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 co ncentrations in individual names, sectors or specific 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 about 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. 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. On a notio na l value basis, approximately 27 % of credit protection bought and sold as of 31 December 2019 matures within one year ( 31 December 2018 : 14%), approximately 63 % within one to five years ( 31 December 2018 : 74%) and approximately 10 % after five years ( 31 December 2018 : 12 %). Credit derivatives by type of instrument Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities Notional values Single-name credit default swaps 0.3 0.7 37.5 0.8 0.7 38.6 Multi-name index-linked credit default swaps 0.1 0.8 29.3 0.5 0.1 24.9 Multi-name other credit default swaps 0.0 0.0 0.4 0.0 0.0 0.3 Total rate of return swaps 0.2 0.6 3.7 0.1 0.2 1.6 Options and warrants 0.0 0.0 3.8 0.0 0.0 0.1 Total 31 December 2019 0.7 2.1 74.6 1.3 0.9 65.4 of which: credit derivatives related to economic hedges 0.6 1.7 56.1 0.9 0.8 45.7 of which: credit derivatives related to market-making 0.1 0.4 18.6 0.5 0.1 19.7 Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities 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 Credit derivatives by counterparty Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities Notional values Broker-dealers 0.1 0.2 10.5 0.2 0.1 9.4 Banks 0.2 0.4 23.6 0.4 0.3 21.5 Central clearing counterparties 0.1 0.9 34.7 0.7 0.2 31.6 Other 0.3 0.7 5.8 0.1 0.3 2.9 Total 31 December 2019 0.7 2.1 74.6 1.3 0.9 65.4 Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities 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 UBS’s CDS trades are documented using industr y 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 certa in 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 repudiation / 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 the Group in the normal course of business. Based o n UBS’s credit ratings as of 31 December 2019 , USD 0.0 billion, USD 0.3 billion and USD 0.8 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’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 sho rt-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 . Under the final rules of the Basel Committee on Banking Supervision (BCBS) and the Board of the International Organization of Securities Commissions (IOSCO) promulgated in July 201 9, the final pha se-in of margin requirements for non-centrally cleared der ivatives will be completed on 1 September 2021. The industry continues to promote the use of central counterparties (CCPs) to clear OTC trades. The trend toward CCP clearing and settlement will gene rally 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 deriv atives (ETD) contracts. Exchanges offer the benefits 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 derivative instruments . Changes in the replacement values of derivatives are recorded in Other net income from financial instruments measured at fair value through profit or loss , except for interest on derivatives designated as hedging instruments in effective hedge accounting relationships 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 about 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 represen t the estimated amount UBS AG would receive if the derivative contract were sold on the balance sheet date. Negative replacement values i ndica te 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. De rivatives embedded in other financial instruments are 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, bifurcation 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 inform ation Risks of derivative instruments Derivative instruments are transacted in many trading portfolios, which generally inc lude several types of instruments, not just derivatives. The market risk of derivatives is predominantly managed and controlled as an integral part of the market ris k of these portfolios. UBS AG ’s approach to market risk is described in the audited portion s 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 c ontrolled 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 portions of “Credit risk” in the “Risk management and control” section of this report. It shoul d be noted that, although the derivative financial assets shown on the balance sheet can b e an important component of UBS AG ’s credit exposure, the positive replacement values related to a respective counterparty are rarely an adequate refle ction 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 enterin g into master netting agreements and bilateral collateral arrangements. Both the exposure measures used internally by UBS AG to control credit risk and the capital requirements imposed by regulators reflect these additional factors. Refer to Note 25 fo r more information about derivative financial assets and liabilities after consideration of netting potential allowed under enforceable netting arrangements Derivative instruments ¹ , ² 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 2.8 0.3 5.1 3,136.8 0.0 1.4 0.1 3.1 2,873.9 Swaps 34.3 454.7 26.2 402.9 8,086.0 29.5 459.8 23.5 441.8 7,189.1 Options 8.1 464.8 10.0 486.1 7.6 562.2 9.0 550.0 Exchange-traded contracts Futures 546.9 516.1 Options 0.0 84.4 0.0 66.6 229.5 0.0 27.7 0.0 26.3 199.7 Agency transactions 5 0.1 0.1 0.0 0.1 Total 42.6 1,006.6 36.6 960.7 11,999.2 37.1 1,051.1 32.7 1,021.3 10,778.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 65.0 2.2 66.0 1.7 68.8 2.1 73.2 Total return swaps 0.3 2.0 0.8 3.3 0.2 3.0 0.6 3.7 Options and warrants 0.0 3.3 0.0 0.6 0.0 2.7 0.0 1.4 Total 2.0 70.2 3.0 69.9 1.9 74.5 2.7 78.3 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 22.4 935.5 23.4 966.6 20.3 708.8 20.9 731.2 Interest and currency swaps 22.8 1,573.2 23.8 1,418.5 24.8 1,299.7 24.6 1,203.5 Options 7.3 660.9 6.8 604.9 8.3 613.8 7.8 577.4 Exchange-traded contracts Futures 1.2 0.4 Options 0.0 4.0 0.0 3.8 0.0 3.6 0.0 5.3 Agency transactions 5 0.0 0.0 0.0 0.1 Total 52.5 3,173.6 54.0 2,993.8 1.2 53.5 2,625.8 53.4 2,517.3 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 4.0 81.3 5.5 96.3 4.7 78.5 5.6 86.3 Options 5.0 88.6 6.8 144.1 5.5 97.6 7.2 139.6 Exchange-traded contracts Futures 84.9 71.7 Options 7.2 250.4 7.8 294.1 37.2 10.1 232.8 9.0 262.8 34.1 Agency transactions 5 6.6 5.4 11.2 13.3 Total 22.8 420.3 25.5 534.5 122.1 31.4 408.9 35.0 488.8 105.9 Derivative instruments (continued) 1,2 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 4.2 0.2 5.7 0.1 3.2 0.1 3.4 Swaps 0.4 13.8 0.6 15.1 0.7 15.2 0.4 9.9 Options 1.0 27.4 0.4 23.6 0.4 18.6 0.3 16.1 Exchange-traded contracts Futures 12.0 8.5 Forward contracts 0.0 5.9 0.0 4.9 0.0 6.6 0.0 5.4 Options 0.1 4.8 0.1 10.7 0.6 0.1 2.9 0.0 3.7 0.1 Agency transactions 5 0.3 0.5 0.4 0.7 Total 1.8 56.1 1.7 60.0 12.6 1.8 46.4 1.5 38.5 8.6 Unsettled purchases of non-derivative financial instruments 6 0.1 16.6 0.1 6.9 0.2 17.0 0.1 6.0 Unsettled sales of non-derivative financial instruments 6 0.1 15.4 0.1 9.7 0.4 15.1 0.2 13.2 Total derivative instruments, based on IFRS netting 7 121.8 4,758.9 120.9 4,635.4 12,135.1 126.2 4,238.7 125.7 4,163.4 10,893.6 1 Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in Note 34 under Loan commitments. 2 Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 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. 5 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. 6 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 7 Financial assets and liabilities are presented net on the balance sheet if UBS AG 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 indic ation of the scale of the different types of derivatives entered into by UBS AG . On a notio nal value basis, approximately 54 % of OTC interest rate contracts held as of 31 December 2019 ( 31 December 2018 : 5 6 %) mature within one year, 28 % ( 31 December 2018 : 28% ) within one to five years and 18 % ( 31 December 2018 : 1 6 %) 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 noti onal values and are categorized into maturity buckets on the basis 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 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 f acilitation and execution of client activity. Market-making involves 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 (includ ing off-balance sheet loan commitments) with the aim of reducing 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 po rtfolios, including financial instruments that are designated at fair value through profit or loss. The tables below provide more information about 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 C DS, and in connection with collateral arrangements in place. On a notio nal value basis, approximately 27 % of credit protection bought and sold as of 31 December 2019 matures within one year ( 31 December 2018 : 14%), approximately 63 % within one to five years ( 31 December 2 018 : 74%) and approximately 10 % after five years ( 31 December 2018 : 12 %). Credit derivatives by type of instrument Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities Notional values Single-name credit default swaps 0.3 0.7 37.5 0.8 0.7 38.6 Multi-name index-linked credit default swaps 0.1 0.8 29.3 0.5 0.1 24.9 Multi-name other credit default swaps 0.0 0.0 0.4 0.0 0.0 0.3 Total rate of return swaps 0.2 0.6 3.7 0.1 0.2 1.6 Options and warrants 0.0 0.0 3.8 0.0 0.0 0.1 Total 31 December 2019 0.7 2.1 74.6 1.3 0.9 65.4 of which: credit derivatives related to economic hedges 0.6 1.7 56.1 0.9 0.8 45.7 of which: credit derivatives related to market-making 0.1 0.4 18.6 0.5 0.1 19.7 Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities 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 Credit derivatives by counterparty Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities Notional values Broker-dealers 0.1 0.2 10.5 0.2 0.1 9.4 Banks 0.2 0.4 23.6 0.4 0.3 21.5 Central clearing counterparties 0.1 0.9 34.7 0.7 0.2 31.6 Other 0.3 0.7 5.8 0.1 0.3 2.9 Total 31 December 2019 0.7 2.1 74.6 1.3 0.9 65.4 Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities 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 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 ena ble UBS AG to recover from third parties any amounts paid out by UBS AG . 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 t ransactions are traded with reference to credit events that are applicable 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 repudiation / 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 2019 , USD 0.0 billion, USD 0.3 billion and USD 0.8 billion would have been required for contractual obligations related to OTC derivative s 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, 2019 | |
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 31.12.19 31.12.18 Financial assets at fair value held for trading 1 Equity instruments 96,787 72,768 Government bills / bonds 11,464 11,161 Investment fund units 8,867 9,716 Corporate and municipal bonds 7,914 6,768 Loans 1,971 3,566 Asset-backed securities 512 392 Total financial assets at fair value held for trading 127,514 104,370 Financial liabilities at fair value held for trading 1 Equity instruments 22,734 21,886 Corporate and municipal bonds 3,661 3,530 Government bills / bonds 3,466 2,839 Investment fund units 698 689 Other 32 0 Total financial liabilities at fair value held for trading 30,591 28,943 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
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 31.12.19 31.12.18 Financial assets at fair value held for trading 1 Equity instruments 96,788 72,771 Government bills / bonds 11,464 11,161 Investment fund units 8,867 9,716 Corporate and municipal bonds 8,093 6,908 Loans 1,971 3,566 Asset-backed securities 512 392 Total financial assets at fair value held for trading 127,695 104,513 Financial liabilities at fair value held for trading 1 Equity instruments 22,734 21,892 Corporate and municipal bonds 3,661 3,530 Government bills / bonds 3,466 2,839 Investment fund units 698 689 Other 32 0 Total financial liabilities at fair value held for trading 30,591 28,949 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
Financial assets at fair value
Financial assets at fair value not held for trading | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Financial assets at fair value not held for trading 1 Financial assets for unit-linked investment contracts 27,686 21,446 Corporate and municipal bonds 19,385 17,236 Government bills / bonds 15,790 22,493 Loans 11,438 8,132 Securities financing transactions 6,294 9,937 Auction rate securities 1,536 1,664 Investment fund units 740 710 Equity instruments 559 702 Other 515 369 Total financial assets at fair value not held for trading 83,944 82,690 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
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 31.12.19 31.12.18 Financial assets at fair value not held for trading 1 Financial assets for unit-linked investment contracts 27,686 21,446 Corporate and municipal bonds 19,385 17,236 Government bills / bonds 15,790 22,493 Loans 11,438 8,132 Securities financing transactions 6,294 9,937 Auction rate securities 1,536 1,664 Investment fund units 432 407 Equity instruments 559 702 Other 515 369 Total financial assets at fair value not held for trading 83,636 82,387 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
Financial assets measured at fa
Financial assets measured at fair value through OCI | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Financial assets measured at fair value through other comprehensive income 1 Debt instruments Government and government agencies 6,162 6,463 of which: USA 5,814 6,101 Banks 178 149 Corporates and other 4 54 Total financial assets measured at fair value through other comprehensive income 6,345 6,667 Unrealized gains – before tax 41 4 Unrealized (losses) – before tax (25) (146) Net unrealized gains / (losses) – before tax 16 (143) Net unrealized gains / (losses) – after tax 15 (104) 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. |
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 31.12.19 31.12.18 Financial assets measured at fair value through other comprehensive income 1 Debt instruments Government and government agencies 6,162 6,463 of which: USA 5,814 6,101 Banks 178 149 Corporates and other 4 54 Total financial assets measured at fair value through other comprehensive income 6,345 6,667 Unrealized gains – before tax 41 4 Unrealized (losses) – before tax (25) (146) Net unrealized gains / (losses) – before tax 16 (143) Net unrealized gains / (losses) – after tax 15 (104) 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. |
Property, equipment and softwar
Property, equipment and software | 12 Months Ended |
Dec. 31, 2019 | |
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 Owned properties Leased properties 5 Leasehold improve- ments IT hardware and communication equipment Internally generated software Purchased software Other machines and equipment Projects in progress 2019 2018 Historical cost Balance at the end of the previous year 7,679 3,122 1,568 5,173 469 799 1,157 19,966 19,522 Adjustment from adoption of IFRS 16 (20) 3,407 (32) 0 3,354 Balance at the beginning of the year 7,659 3,407 3,122 1,535 5,173 469 799 1,157 23,321 19,522 Additions 15 345 21 178 73 30 23 1,246 1,931 1,702 Disposals / write-offs 1 (15) (22) (314) (170) (28) (20) (68) 0 (636) (849) Reclassifications (130) 0 164 0 943 2 41 (1,418) (398) 4 (195) Foreign currency translation 122 14 10 16 15 4 4 28 213 (213) Balance at the end of the year 7,650 3,745 3,004 1,559 6,176 485 799 1,014 24,431 19,966 Accumulated depreciation Balance at the end of the previous year 4,500 1,873 1,077 2,291 316 561 10,619 10,465 Adjustment from adoption of IFRS 16 (1) 29 (28) 0 Balance at the beginning of the year 4,499 29 1,873 1,049 2,291 316 561 0 10,619 10,465 Depreciation 161 487 194 165 603 56 62 0 1,728 1,153 Impairment 2 1 2 1 0 30 3 0 0 37 75 Disposals / write-offs 1 (15) (2) (312) (169) (28) (20) (68) 0 (614) (840) Reclassifications (256) 0 2 0 0 0 0 0 (254) 4 (124) Foreign currency translation 75 4 9 9 9 3 3 0 112 (111) Balance at the end of the year 4,466 519 1,768 1,053 2,906 358 559 0 11,628 10,619 Net book value Net book value at the end of the previous year 3,179 0 1,249 491 2,882 153 238 1,157 9,348 9,057 Net book value at the beginning of the year 3,160 3,378 1,249 486 2,882 153 238 1,157 12,702 9,057 Net book value at the end of the year 3,184 3,226 1,236 506 3,270 126 241 1,014 3 12,804 9,348 1 Includes write-offs of fully depreciated assets. 2 Impairment charges recorded in 2019 generally relate to assets that are no longer used for which the recoverable amount based on a fair value approach was determined to be zero. 3 Consists of USD 787 million related to Internally generated software, USD 126 million related to Owned properties and USD 100 million related to Leasehold improvements. 4 Reflects reclassifications to Properties held for sale. 5 Represents right-of-use assets recognized by UBS as lessee. Includes immaterial leased IT equipment. The total cash outflow for leases during the year was USD 641 million. Interest expense on lease liabilities is included within Interest expense from financial instruments measured at amortized cost and Lease liabilities are included within Other financial liabilities measured at amortized cost. Refer to Notes 3 and 22a, respectively. Also refer to Note 1 for more information about the nature of UBS’s leasing activities. |
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 Owned properties Leased properties 5 Leasehold improve- ments IT hardware and communication equipment Internally generated software Purchased software Other machines and equipment Projects in progress 2019 2018 Historical cost Balance at the end of the previous year 7,031 3,042 1,002 4,879 303 769 1,076 18,102 17,705 Adjustment from adoption of IFRS 16 (20) 3,299 (15) 0 3,264 Balance at the beginning of the year 7,012 3,299 3,042 987 4,879 303 769 1,076 21,365 17,705 Additions 14 337 18 85 96 9 22 1,158 1,740 1,484 Disposals / write-offs 1 (9) (21) (312) (108) (28) (10) (66) 0 (554) (726) Reclassifications (135) 0 158 (3) 863 2 39 (1,315) (391) 4 (195) Foreign currency translation 106 15 10 2 7 (1) 4 25 169 (166) Balance at the end of the year 6,988 3,630 2,917 963 5,817 302 768 943 22,329 18,102 Accumulated depreciation Balance at the end of the previous year 4,132 1,842 733 2,161 209 546 9,623 9,514 Adjustment from adoption of IFRS 16 (1) 16 (15) 0 0 Balance at the beginning of the year 4,131 16 1,842 719 2,161 209 546 0 9,623 9,514 Depreciation 141 463 184 98 565 33 58 0 1,542 984 Impairment 2 1 2 1 0 27 2 0 0 34 67 Disposals / write-offs 1 (9) (2) (310) (108) (28) (10) (66) 0 (533) (730) Reclassifications (256) 0 3 0 5 0 0 0 (248) 4 (124) Foreign currency translation 66 3 9 1 5 (1) 3 0 86 (88) Balance at the end of the year 4,074 481 1,729 710 2,735 233 541 0 10,503 9,623 Net book value Net book value at the end of the previous year 2,900 0 1,200 269 2,718 93 223 1,076 8,479 8,191 Net book value at the beginning of the year 2,881 3,284 1,200 268 2,718 93 223 1,076 11,742 8,191 Net book value at the end of the year 2,914 3,149 1,188 254 3,082 69 227 943 3 11,826 8,479 1 Includes write-offs of fully depreciated assets. 2 Impairment charges recorded in 2019 generally relate to assets that are no longer used for which the recoverable amount based on a fair value approach was determined to be zero. 3 Consists of USD 744 million related to Internally generated software, USD 101 million related to Owned properties and USD 98 million related to Leasehold improvements. 4 Reflects reclassifications to Properties held for sale. 5 Represents right-of-use assets recognized by UBS AG as lessee. Includes immaterial leased IT equipment. The total cash outflow for leases during the year was USD 614 million. Interest expense on lease liabilities is included within Interest expense from financial instruments measured at amortized cost and Lease liabilities are included within Other financial liabilities measured at amortized cost. Refer to Notes 3 and 22a, respectively. Also refer to Note 1 for more information about the nature of UBS’s leasing activities. |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Dec. 31, 2019 | |
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. UBS considers Asset Management and the Investment Bank, as they are reported in Note 2a, as separate cash-generating units, as that is the le vel at which the performance of investments (and the related goodwill) is reviewed and assessed by management. The goodwill for Global Wealth Management is separately monitored, and therefore separately considered for impairment, at the level of the two fo rmer business divisions Wealth Management and Wealth Management Americas. These business divisions were integrated in 2018 and are referred to in this Note as Global Wealth Management Americas and Global Wealth Management ex Americas. The impairment test i s 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. An impairment charge is recognized if the carrying amo unt exceeds the recoverable amount. As of 31 December 2019, total goodwill recognized on the balance sheet was USD 6.3 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 Wealth Management ex Americas cash-generating unit and USD 1.4 billion was carried by Asset Management. Based on the impairment testing methodology described below, UBS concluded that the goodwill balances as of 31 December 2019 allocated to these cash-generating units are not impaired. Impairment of the Investment Bank goodwill UBS is continuing to realign its Investment Bank and execute on a number of strategic initiatives to drive profitable growth. As a consequence, IAS 36, Impairment of A ssets , requires UBS to give consideration to the range of possible forecast cash flows and uncertainties in macroeconomic factors that currently exist when determining the recoverability of goodwill in the Investment Bank. Following this, UBS estimated a r ecoverable amount for the Investment B ank cash-generating unit of USD 11. 7 billion. As this was lower than the carrying amount of the Investment Bank cash-generating unit of USD 12.1 billion (actual attributed equity as of 31 December 2019), UBS wrote down the goodwill previously recognized by the Investment Ban k (USD 110 million) and recogniz ed that charge in the income statement within Amortization and impairment of goodwill and intangible assets . UBS also reviewed intangible assets , property, equipment and software assets, allocated to the Investment Bank. Overall, UBS confirmed that no further impairment charges were required, with the fair value of such assets (generally determined using a cost replacement approach) being equal to or higher than their respective carrying amounts. 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 th e 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 th e 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, UBS attribute s 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 Treasury 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 cond uct its business and is currently considered a reasonable approximation of the carrying amount 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. Refer to the “Capital management” section of this report for more information about 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 bu siness 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. In addition, they take into account regional differences in risk-free rates, at the level of individua l cash-generating units. Consistently, long-term growth rates are determined based on nominal or real GDP growth rate forecasts, depending on the region. 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 percen tage points. Under all scenarios, reasonably possible changes in key assumptions did not result in an impairment of goodwill or intangible balances reported by Global Wealth Management Americas, Global Wealth Management ex Americas and Asset Management. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill attributable to Global Wealth Management Americas, Global Wealth Management ex Americas and Asset Management 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 fr amework, no effect would be expected on the Group’s capital ratios. Discount and growth rates Discount rates Growth rates In % 31.12.19 31.12.18 31.12.19 31.12.18 Global Wealth Management Americas 9.5 9.5 4.2 3.2 Global Wealth Management ex Americas 8.5 8.5 3.4 3.0 Asset Management 9.0 9.0 3.0 2.7 Investment Bank 11.0 11.0 4.0 3.5 Goodwill Intangible assets USD million Total Infrastructure 1 Customer relationships, contractual rights and other Total 2019 2018 Historical cost Balance at the beginning of the year 6,392 760 865 1,625 8,018 7,888 Additions 0 11 11 11 270 Disposals (1) (10) (10) (11) (45) Write-offs 0 (75) (75) (75) (7) Foreign currency translation (9) (3) (3) (12) (88) Balance at the end of the year 6,382 760 788 1,548 7,930 8,018 Accumulated amortization and impairment Balance at the beginning of the year 691 679 1,371 1,371 1,325 Amortization 38 27 65 65 62 Impairment 2 110 0 0 110 4 Disposals (8) (8) (8) (1) Write-offs (75) (75) (75) (7) Foreign currency translation (2) (2) (2) (12) Balance at the end of the year 110 730 621 1,351 1,461 1,371 Net book value at the end of the year 6,272 30 167 197 6,469 6,647 1 Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc. 2 Impairment charges recorded in 2019 and 2018 relate to assets for which the recoverable amount was determined considering their value-in-use (recoverable amount of the impaired intangible assets in 2018 was USD 18 million, recoverable amount for the Investment Bank cash-generating unit in 2019 was USD 11.7 billion). The table below presents goodwill and intangible assets by cash-generating unit for the year ended 31 December 2019 . USD million Global Wealth Management Americas Global Wealth Management ex Americas Asset Management Investment Bank Corporate Center Total Goodwill Balance at the beginning of the year 3,721 1,206 1,354 112 6,392 Additions 0 0 Disposals (1) (1) Impairment (110) (110) Foreign currency translation (2) (6) 1 (2) 0 (9) Balance at the end of the year 3,719 1,198 1,354 0 0 6,272 Intangible assets Balance at the beginning of the year 138 104 0 11 1 254 Additions / transfers 1 0 10 11 Disposals (2) 0 (2) Amortization (45) (12) (5) (4) (65) Impairment 0 0 0 Foreign currency translation (1) 1 0 0 0 (1) Balance at the end of the year 92 92 0 5 7 197 The table below presents estimated aggregated amortization expenses for intangible assets. USD million Intangible assets Estimated, aggregated amortization expenses for: 2020 53 2021 22 2022 18 2023 17 2024 13 Thereafter 70 Not amortized due to indefinite useful life 2 Total 197 |
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. UBS AG considers Asset Management and the Investment Bank, as they are reported in Note 2a, as separate cash-generating units, as that is the lev el at which the performance of investments (and the related goodwill) is reviewed and assessed by management. The goodwill for Global Wealth Management is separately monitored, and therefore separately considered for impairment, at the level of the two for mer business divisions Wealth Management and Wealth Management Americas. These business divisions were integrated in 2018 and are referred to in this Note as Global Wealth Management Americas and Global Wealth Management ex Americas. 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. An impairment charge is recognized if the carrying amou nt exceeds the recoverable amount. As of 31 December 2019, total goodwill recognized on the balance sheet was USD 6.3 billion, of which USD 3.7 billion was carried by the Global Wealth Management Americas cash-generating unit, USD 1.2 billion was carried b y the Global Wealth Management ex Americas cash-generating unit and USD 1.4 billion was carried by Asset Management. Based on the impairment testing methodology described below, UBS AG concluded that the goodwill balances as of 31 December 2019 allocated t o these cash-generating units are not impaired. Impairment of the Investment Bank goodwill UBS AG is continuing to realign its Investment Bank and execute on a number of strategic initiatives to drive profitable growth. As a consequence, IAS 36, Impairment of Assets , requires UBS AG to give consideration to the range of possible forecast cash flows and uncertainties in macroeconomic factors that currently exist when determining the recoverability of goodwill in the Investment Bank. Following this, UBS AG es timated a recoverable amount for the Investment Bank cash-generating unit of USD 11. 7 billion. As this was lower than the carrying amount of the Investment Bank cash-generating unit of USD 12.1 billion (actual attributed equity as of 31 December 2019) , UBS AG wrote down the goodwill previously recognized by the Investment Ban k (USD 110 million) and recogniz ed that charge in the income statement within Amortization and impairment of goodwill and intangible assets . UBS AG also reviewed intangible assets , pro perty, equipment and software assets, allocated to the Investment Bank. Overall, UBS AG confirmed that no further impairment charges were required, with the fair value of such assets (generally determined using a cost replacement approach) being equal to o r higher than their respective carrying amounts. 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 b e 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 rat e, 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 t his report, UBS attribute s 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 Treasury m anages 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 amount 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. Refer to the “Capital management” section of this report for more information about the equity attribution framework Assumptions Valuation parameters used within UBS AG ’s impairme nt 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 p art 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. In addition, they take into account regional differences in risk-free rates, at t he level of individual cash-generating units. Consistently, long-term growth rates are determined based on nominal or real GDP growth rate forecasts, depending on the region. 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 growt h 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 balances reported by Global Wealth Management Americas, Global Wealth Management e x Americas and Asset Management. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill attributable to Global Wealth Management Americas, Global Wealth Management ex Americas and Asset Man agement 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 cap ital under the Basel III capital framework, no effect would be expected on UBS AG ’s capital ratios. Discount and growth rates Discount rates Growth rates In % 31.12.19 31.12.18 31.12.19 31.12.18 Global Wealth Management Americas 9.5 9.5 4.2 3.2 Global Wealth Management ex Americas 8.5 8.5 3.4 3.0 Asset Management 9.0 9.0 3.0 2.7 Investment Bank 11.0 11.0 4.0 3.5 Goodwill Intangible assets USD million Total Infrastructure 1 Customer relationships, contractual rights and other Total 2019 2018 Historical cost Balance at the beginning of the year 6,392 760 865 1,625 8,018 7,888 Additions 0 11 11 11 270 Disposals (1) (10) (10) (11) (45) Write-offs 0 (75) (75) (75) (7) Foreign currency translation (9) (3) (3) (12) (88) Balance at the end of the year 6,382 760 788 1,548 7,930 8,018 Accumulated amortization and impairment Balance at the beginning of the year 691 679 1,371 1,371 1,325 Amortization 38 27 65 65 62 Impairment 2 110 0 0 110 4 Disposals (8) (8) (8) (1) Write-offs (75) (75) (75) (7) Foreign currency translation (2) (2) (2) (12) Balance at the end of the year 110 730 621 1,351 1,461 1,371 Net book value at the end of the year 6,272 30 167 197 6,469 6,647 1 Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc. 2 Impairment charges recorded in 2019 and 2018 relate to assets for which the recoverable amount was determined considering their value-in-use (recoverable amount of the impaired intangible assets in 2018 was USD 18 million, recoverable amount for the Investment Bank cash-generating unit in 2019 was USD 11.7 billion). The table below presents goodwill and intangible assets by cash-generating unit for the year ended 31 December 2019 . USD million Global Wealth Management Americas Global Wealth Management ex Americas Asset Management Investment Bank Corporate Center Total Goodwill Balance at the beginning of the year 3,721 1,206 1,354 112 6,392 Additions 0 0 Disposals (1) (1) Impairment (110) (110) Foreign currency translation (2) (6) 1 (2) 0 (9) Balance at the end of the year 3,719 1,198 1,354 0 0 6,272 Intangible assets Balance at the beginning of the year 138 104 0 11 1 254 Additions / transfers 1 0 10 11 Disposals (2) 0 (2) Amortization (45) (12) (5) (4) (65) Impairment 0 0 0 Foreign currency translation (1) 1 0 0 0 (1) Balance at the end of the year 92 92 0 5 7 197 The table below presents estimated aggregated amortization expenses for intangible assets. USD million Intangible assets Estimated, aggregated amortization expenses for: 2020 53 2021 22 2022 18 2023 17 2024 13 Thereafter 70 Not amortized due to indefinite useful life 2 Total 197 |
Other financial and non-financi
Other financial and non-financial assets | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Debt securities 14,141 13,562 of which: government bills / bonds 8,492 8,778 Loans to financial advisors 1 2,877 3,291 Fee- and commission-related receivables 1,521 1,643 Finance lease receivables 2 1,444 1,091 Settlement and clearing accounts 587 1,050 Accrued interest income 742 694 Other 1,669 1,233 Total other financial assets measured at amortized cost 22,980 22,563 1 Related to financial advisors in the US and Canada. 2 Upon adoption of IFRS 16 on 1 January 2019, Finance lease receivables increased by USD 176 million. Refer to Note 1 for more information. b) Other non-financial assets USD million 31.12.19 31.12.18 Precious metals and other physical commodities 4,597 4,298 Bail deposit 1 1,293 1,312 Prepaid expenses 927 990 VAT and other tax receivables 493 334 Properties and other non-current assets held for sale 199 82 Other 346 395 Total other non-financial assets 7,856 7,410 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 31.12.19 31.12.18 Debt securities 14,141 13,562 of which: government bills / bonds 8,492 8,778 Loans to financial advisors 1 2,877 3,291 Fee- and commission-related receivables 1,520 1,644 Finance lease receivables 2 1,444 1,091 Settlement and clearing accounts 587 1,039 Accrued interest income 742 700 Other 1,701 1,310 Total other financial assets measured at amortized cost 23,012 22,637 1 Related to financial advisors in the US and Canada. 2 Upon adoption of IFRS 16 on 1 January 2019, Finance lease receivables increased by USD 176 million. Refer to Note 1 for more information. b) Other non-financial assets USD million 31.12.19 31.12.18 Precious metals and other physical commodities 4,597 4,298 Bail deposit 1 1,293 1,312 Prepaid expenses 687 731 VAT and other tax receivables 436 282 Properties and other non-current assets held for sale 199 82 Other 335 358 Total other non-financial assets 7,547 7,062 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, 2019 | |
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 31.12.19 31.12.18 Amounts due to banks 6,570 10,962 Customer deposits 448,284 419,838 of which: demand deposits 176,010 181,869 of which: retail savings / deposits 168,581 165,790 of which: time deposits 62,315 53,624 of which: fiduciary deposits 41,378 18,556 Total amounts due to banks and customer deposits 454,854 430,801 |
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 31.12.19 31.12.18 Amounts due to banks 6,570 10,962 Customer deposits 450,591 421,986 of which: demand deposits 176,972 182,642 of which: retail savings / deposits 168,581 165,790 of which: time deposits 63,659 54,998 of which: fiduciary deposits 41,378 18,556 Total amounts due to banks and customer deposits 457,161 432,948 b) Funding from UBS Group AG and its subsidiaries USD million 31.12.19 31.12.18 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 30,105 29,988 Senior unsecured debt other than TLAC 3,389 1,031 High-trigger loss-absorbing additional tier 1 capital instruments 11,958 7,805 Low-trigger loss-absorbing additional tier 1 capital instruments 2,415 2,378 Total 1,2 47,866 41,202 1 All balances in 2019 are against UBS Group AG as counterparty. Prior year balances were against UBS Group Funding (Switzerland) AG as counterparty. 2 UBS AG has also recognized funding from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
Debt issued designated at fair
Debt issued designated at fair value | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Issued debt instruments Equity-linked 1 41,722 34,392 Rates-linked 16,318 12,073 Credit-linked 1,916 3,282 Fixed-rate 4,636 5,099 Commodity-linked 1,567 1,785 Other 649 401 of which: debt that contributes to total loss-absorbing capacity 217 0 Total debt issued designated at fair value 66,809 57,031 of which: issued by UBS AG with original maturity greater than one year 2 51,031 40,289 of which: life-to-date own credit (gain) / loss 92 (270) 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 2019 was unsecured (31 December 2018: more than 99% of the balance was unsecured). As of 31 December 2019 and 31 December 2018 , 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 amount . The table below shows the residual contractual maturity of the carrying amount of debt issued designated at fair value, split between fixed-rate and floating-rate instruments based on the contractual terms, and does 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 produc ts, 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 mat urity information on an undiscounted cash flow basis Contractual maturity of carrying amount USD million 2020 2021 2022 2023 2024 2025–2029 Thereafter Total 31.12.19 Total 31.12.18 UBS Group AG 1 Non-subordinated debt Fixed-rate 0 0 0 0 0 0 217 217 0 UBS AG 2 Non-subordinated debt Fixed-rate 3,648 1,778 755 288 334 386 3,178 10,368 11,807 Floating-rate 21,547 10,748 3,435 2,608 3,290 8,109 5,562 55,299 43,562 Subtotal 25,195 12,526 4,190 2,897 3,624 8,495 8,740 65,668 55,370 Other subsidiaries 3 Non-subordinated debt Fixed-rate 48 92 6 0 0 345 29 520 1,230 Floating-rate 102 43 197 27 0 0 35 404 431 Subtotal 150 134 203 27 0 345 64 924 1,662 Total 25,345 12,661 4,394 2,924 3,624 8,840 9,021 66,809 57,031 1 Comprises instruments issued by the legal entity UBS Group AG. 2 Comprises instruments issued by the legal entity UBS AG. 3 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 31.12.19 31.12.18 Issued debt instruments Equity-linked 1 41,722 34,392 Rates-linked 16,318 12,073 Credit-linked 1,916 3,282 Fixed-rate 4,636 5,099 Commodity-linked 1,567 1,785 Other 432 401 Total debt issued designated at fair value 66,592 57,031 of which: issued by UBS AG with original maturity greater than one year 2 51,031 40,289 of which: life-to-date own credit (gain) / loss 82 (270) 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 2019 was unsecured (31 December 2018: more than 99% of the balance was unsecured). As of 31 December 2019 and 31 December 2018 , 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 amount . The table below shows the residual contractual maturity of the carrying amount of debt issued designated at fair value, split between fixed-rate and floating-rate instruments based on the contractual terms, and does 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 produc ts, 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 mat urity information on an undiscounted cash flow basis Contractual maturity of carrying amount USD million 2020 2021 2022 2023 2024 2025–2029 Thereafter Total 31.12.19 Total 31.12.18 UBS AG 1 Non-subordinated debt Fixed-rate 3,648 1,778 755 288 334 386 3,178 10,368 11,807 Floating-rate 21,547 10,748 3,435 2,608 3,290 8,109 5,562 55,299 43,562 Subtotal 25,195 12,526 4,190 2,897 3,624 8,495 8,740 65,668 55,370 Other subsidiaries 2 Non-subordinated debt Fixed-rate 48 92 6 0 0 345 29 520 1,230 Floating-rate 102 43 197 27 0 0 35 404 431 Subtotal 150 134 203 27 0 345 64 924 1,662 Total 25,345 12,661 4,394 2,924 3,624 8,840 8,804 66,592 57,031 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, 2019 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Debt Securities Explanatory | Note 20 Debt issued measured at amortized cost USD million 31.12.19 31.12.18 Certificates of deposit 5,190 7,980 Commercial paper 14,413 27,514 Other short-term debt 2,235 3,531 Short-term debt 1 21,837 39,025 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 30,105 29,988 Senior unsecured debt other than TLAC 25,569 33,018 of which: issued by UBS AG with original maturity greater than one year 2 22,349 32,133 Covered bonds 2,633 3,947 Subordinated debt 21,775 17,665 of which: high-trigger loss-absorbing additional tier 1 capital instruments 11,931 7,785 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,414 2,369 of which: low-trigger loss-absorbing tier 2 capital instruments 6,892 6,808 of which: non-Basel III-compliant tier 2 capital instruments 540 703 Debt issued through the Swiss central mortgage institutions 8,574 8,569 Other long-term debt 4 58 of which: issued by UBS AG with original maturity greater than one year 2 0 52 Long-term debt 3 88,660 93,246 Total debt issued measured at amortized cost 4 110,497 132,271 1 Debt with an original contractual 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 2019, 100% of the balance was unsecured (31 December 2018: 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. 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 amount of debt issued was an increase of U SD 1,099 million as of 31 December 2019 and a decrease of USD 298 million as of 31 December 2018 , 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 2019 pay a fixed rate of interest. The table below shows the residual contractual maturity of the carrying amount 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 table below. Refer to Note 27 for maturity information on an undiscounted cash flow basis Contractual maturity of carrying amount USD million 2020 2021 2022 2023 2024 2025–2029 Thereafter Total 31.12.19 Total 31.12.18 UBS Group AG 1 Non-subordinated debt Fixed-rate 1,442 1,943 3,720 4,008 3,890 10,832 1,471 27,306 4 0 Floating-rate 299 1,001 2,462 2,249 0 0 0 6,012 4 0 Subordinated debt Fixed-rate 0 0 0 0 0 0 14,344 14,344 4 0 Subtotal 1,741 2,944 6,182 6,257 3,890 10,832 15,815 47,662 0 UBS AG 2 Non-subordinated debt Fixed-rate 24,334 3,978 2,618 1,621 0 0 1,145 33,696 40,108 Floating-rate 10,819 1,932 0 368 0 0 0 13,119 35,035 Subordinated debt Fixed-rate 0 0 2,007 0 2,597 2,827 0 7,431 7,511 Subtotal 35,153 5,910 4,626 1,989 2,597 2,827 1,145 54,247 82,654 Other subsidiaries 3 Non-subordinated debt Fixed-rate 758 1,029 851 951 1,013 3,327 660 8,588 33,529 4 Floating-rate 0 0 0 0 0 0 0 0 5,933 4 Subordinated debt Fixed-rate 0 0 0 0 0 0 0 0 10,154 4 Subtotal 758 1,029 851 951 1,013 3,327 660 8,588 49,616 Total 37,651 9,883 11,659 9,197 7,500 16,987 17,620 110,497 132,271 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 TLAC and additional tier 1 capital instruments were originally issued by UBS Group Funding (Switzerland) AG, the issuer was replaced by UBS Group AG in 2019. |
UBS AG | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Debt Securities Explanatory | Note 20 Debt issued measured at amortized cost USD million 31.12.19 31.12.18 Certificates of deposit 5,190 7,980 Commercial paper 14,413 27,514 Other short-term debt 2,235 3,531 Short-term debt 1 21,837 39,025 Senior unsecured debt 22,356 32,135 of which: issued by UBS AG with original maturity greater than one year 2 22,349 32,133 Covered bonds 2,633 3,947 Subordinated debt 7,431 7,511 of which: low-trigger loss-absorbing tier 2 capital instruments 6,892 6,808 of which: non-Basel III-compliant tier 2 capital instruments 540 703 Debt issued through the Swiss central mortgage institutions 8,574 8,569 Other long-term debt 4 58 of which: issued by UBS AG with original maturity greater than one year 2 0 52 Long-term debt 3 40,998 52,220 Total debt issued measured at amortized cost 4 62,835 91,245 1 Debt with an original contractual 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 2019, 100% of the balance was unsecured (31 December 2018: 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 amount of debt issued was an increase of USD 574 million as of 31 December 2019 and a n increase of USD 2 82 million as of 31 December 2018 , 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 2019 pay a fixed rate of interest. The table below shows the residual contractual maturity of the carrying amount 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 table below. Refer to Note 27 for maturity information on an undiscounted cash flow basis Contractual maturity of carrying amount USD million 2020 2021 2022 2023 2024 2025–2029 Thereafter Total 31.12.19 Total 31.12.18 UBS AG 1 Non-subordinated debt Fixed-rate 24,334 3,978 2,618 1,621 0 0 1,145 33,696 40,108 Floating-rate 10,819 1,932 0 368 0 0 0 13,119 35,035 Subordinated debt Fixed-rate 0 0 2,007 0 2,597 2,827 0 7,431 7,511 Subtotal 35,153 5,910 4,626 1,989 2,597 2,827 1,145 54,247 82,654 Other subsidiaries 2 Non-subordinated debt Fixed-rate 758 1,029 851 951 1,013 3,327 660 8,588 8,590 Floating-rate 0 0 0 0 0 0 0 0 0 Subtotal 758 1,029 851 951 1,013 3,327 660 8,588 8,591 Total 35,911 6,939 5,477 2,940 3,610 6,154 1,805 62,835 91,245 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, 2019 | |
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. USD million 31.12.19 31.12.18 Provisions other than provisions for expected credit losses 2,861 3,377 Provisions for expected credit losses 114 116 Total provisions 2,974 3,494 The following table presents additional information for provisions other than provisions for expected credit losses . USD million Operational risks 2 Litigation, regulatory and similar matters 3 Restructuring Real estate Employee benefits 6 Other Total 2019 Total 2018 Balance at the end of the previous year 46 2,827 224 131 70 78 3,377 3,180 Adjustment from adoption of IFRS 16 1 0 0 (103) (29) 0 0 (132) 0 Balance at the beginning of the year 46 2,827 121 102 70 78 3,245 3,180 Additions from acquired companies 0 0 0 0 0 0 0 2 Increase in provisions recognized in the income statement 15 258 105 4 6 16 404 1,155 Release of provisions recognized in the income statement 0 (81) (22) 0 (7) (12) (123) (311) Provisions used in conformity with designated purpose (16) (518) (99) (7) 0 (18) (659) (628) Capitalized reinstatement costs 0 0 0 1 0 0 1 1 Foreign currency translation / unwind of discount (1) (12) 1 1 1 1 (8) (21) Balance at the end of the year 44 2,475 106 4 100 5 70 66 2,861 3,377 1 Refer to Note 1 for more information. 2 Comprises provisions for losses resulting from security risks and transaction processing risks. 3 Comprises provisions for losses resulting from legal, liability and compliance risks. 4 Primarily consists of personnel-related restructuring provisions of USD 40 million as of 31 December 2019 (31 December 2018: USD 50 million) and provisions for onerous contracts of USD 61 million as of 31 December 2019 (31 December 2018: USD 170 million). 5 Consists of reinstatement costs for leasehold improvements of USD 89 million as of 31 December 2019 (31 December 2018: USD 89 million) and provisions for onerous contracts of USD 11 million as of 31 December 2019 (31 December 2018: USD 42 million). 6 Includes provisions for sabbatical and anniversary awards. Restructuring provisions primarily relate to onerous contracts and severance payments. Onerous contracts for property are recognized when UBS is committed to pay for non-lease components, such as utilities, when a property is vacated o r not fully recovered from sub-tenants. 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 re structuring event and therefore the estimated costs. Information about 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 associa ted 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. USD million 31.12.19 31.12.18 Provisions other than provisions for expected credit losses 2,825 3,341 Provisions for expected credit losses 114 116 Total provisions 2,938 3,457 The following table presents additional information for provisions other than provisions for expected credit losses USD million Operational risks 2 Litigation, regulatory and similar matters 3 Restructuring Real estate Employee benefits 6 Other Total 2019 Total 2018 Balance at the end of the previous year 45 2,827 215 122 55 77 3,341 3,130 Adjustment from adoption of IFRS 16 1 0 0 (103) (28) 0 0 (131) 0 Balance at the beginning of the year 45 2,827 112 94 55 77 3,209 3,130 Additions from acquired companies 0 0 0 0 0 0 0 2 Increase in provisions recognized in the income statement 13 258 87 4 6 8 376 1,117 Release of provisions recognized in the income statement 0 (81) (19) 0 (7) (12) (119) (301) Provisions used in conformity with designated purpose (15) (518) (83) (7) 0 (9) (632) (587) Reclassifications 0 0 0 0 0 (1) (1) 0 Foreign currency translation / unwind of discount (1) (12) 1 1 0 1 (8) (20) Balance at the end of the year 41 2,475 99 4 92 5 54 64 2,825 3,341 1 Refer to Note 1 for more information. 2 Comprises provisions for losses resulting from security risks and transaction processing risks. 3 Comprises provisions for losses resulting from legal, liability and compliance risks. 4 Primarily consists of personnel-related restructuring provisions of USD 33 million as of 31 December 2019 (31 December 2018: USD 40 million) and provisions for onerous contracts of USD 61 million as of 31 December 2019 (31 December 2018: USD 170 million). 5 Consists of reinstatement costs for leasehold improvements of USD 82 million as of 31 December 2019 (31 December 2018: USD 83 million) and provisions for onerous contracts of USD 10 million as of 31 December 2019 (31 December 2018: USD 40 million). 6 Includes provisions for sabbatical and anniversary awards. Restructuring provisions primarily relate to onerous contracts and severance payments. Onerous contracts for property are recognized w hen UBS AG is committed to pay for non-lease components, such as utilities, when a property is vacated or not fully recovered from sub-tenants. Severance-related provisions are used within a short time period, usually within six months, but potential chang es in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring event and therefore the estimated costs. Information about provisions and contingent liabilities in respect of litigation, regulatory and si milar 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, 2019 | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure Of Contingent Liabilities Explanatory | Note 21 Provisions and contingent liabilities b) Litigation, regulatory and similar matters 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 to 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, and the outcome and the timing o f 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 respe ct 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 pre sent 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 signi ficant. 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 provi de 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 material and others that management believes to be of significance due to potential financial, reputational and other effects. The amount of damages claimed, the size o f 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 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 s eriously 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 su ch 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 stan dard; 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 esti mable. 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 similar matters as a class is disclosed in the “P rovisions” 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 require us to provide speculative legal assessme nts 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 there fore 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 t he 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 Departmen t 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 det ermination 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 was subject to probation , which ended in early 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 author ities 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 term ination 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 requirem ents. 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 in Corporate Center 1 USD million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank Corporate Center Total 2019 Total 2018 Balance at the beginning of the year 1,003 117 0 269 1,438 2,827 2,508 Increase in provisions recognized in the income statement 188 1 0 60 10 258 905 Release of provisions recognized in the income statement (49) 0 0 (6) (27) (81) (220) Provisions used in conformity with designated purpose (350) (4) 0 (66) (97) (518) (350) Foreign currency translation / unwind of discount (10) (1) 0 (2) 0 (12) (16) Balance at the end of the year 782 113 0 255 1,325 2,475 2,827 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3, item 4 and item 7) and Corporate Center (item 2). Provisions, if any, for the matters described in items 1 and 6 of this disclosure are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this disclosure in item 5 are allocated between the Investment Bank and Corporate Center. 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 c ross-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 provision of financial services could give ris e 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 procedural 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 addition al 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. O n 26 July 2019 , t he Supreme Court reversed the decision of the Federal Administrative Court. In December 2019, the court released its written decision. The decision requires the FTA to obtain confirmation from the French authorities that transmitted data will be used only for the purposes stated in their request before transmitting any data. The stated purpose of the original request was to obtain information relating to taxes owed by account holders. Accordingly, any information transferred to the French authorities must not be passed to criminal authorities or used in connection with the ongoing case against UBS discussed in this item. Since 2013, UBS (France) S.A., UBS AG and certain former employees have been under investigation in France for alleged complicity in unlawful solicitation of clients on French territory, regarding the laundering of proceeds of tax fraud, and banking and financial solicitation by unauthorized persons. In connection with this investigation, the investigating judges ordered UBS AG to provide bail (“caution”) of EUR 1.1 billi on and UBS (France) S.A. to post bail of EUR 40 million, which was reduced on appeal to EUR 10 million. A trial in the court of first instance took place from 8 October 2018 until 15 November 2018. On 20 February 2019, the court announced a verdict finding UBS AG guilty of unlawful solicitation of clients on French territory and aggravated laundering of 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 im posed 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 state. UBS has appealed the decision. Under French law, the judgment is suspended while the appeal is pending. The trial in the Court of Appeal is scheduled for June 2020. 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 those 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 it followed its obligations u nder 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 exceed the amounts that could be supported by the law and the facts. In parti cular, 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 2019 reflected provisions with respect to this matter in an amount of EUR 450 million (USD 505 million at 31 December 2019). The wide range of p ossible outcomes in this case contributes to a high degree of estimation uncertainty. The provision reflected on our balance sheet at 31 December 2019 reflects our best estimate of possible financial implications, although it is reasonably possible that ac tual 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 solicitation 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. In June 20 19, UBS entered into a settlement agreement with the Italian tax authorities under which it paid EUR 101 million to resolve the claims asserted by the authority related to UBS AG’s potential pe rmanent establishment in Italy. In October 2019, the Judge of P reliminary Investigations of the Milan C ourt approved an agreement with the Milan prosecutor under Article 63 of Italian Administrative Law 231 under which UBS AG, UBS Switzerland AG and UBS Monaco have paid an aggregate of EUR 10.3 million to resolve clai ms premised on the alleged inadequacy of historical internal controls. No admission of wrongdoing was required in connection with this resolution. Our balance sheet at 31 December 2019 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 substantially 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 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 affili ate) 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 f rom originators to third-party purchasers. These whole loan sales 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 originat ed approximately USD 1.5 billion in US residential mortgage loans 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 seller, 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 enfo rce 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 appro ximately USD 2 billion. In July 2018, UBS and the trustee entered into an agreeme nt 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. In January 2020 , the settlem ent was approved by the court. Proceedings to determine how the settle ment funds will be distributed to RMBS holders are ongoing . After giving effect 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 mortgag e loans are time-barred under a decision rendered by the New York Court of Appeals. 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 UBS’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 co mplaint 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. On 10 December 2019 , the district court denied UBS’s motion to dismiss. Our balance sheet at 31 December 2019 reflected a provision with respect to matters described in this item 2 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 this matter cannot be determined with certainty based on currently available information and accordingly may ultimately prove to be substantially greater (or m ay 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 subsidiarie s 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 Secteur Financier. Those inquiries concerned two third-party funds established u nder 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 BMIS. These funds faced severe losses, and the Luxembourg funds are in liquidat ion. The documentation establishing both funds identifies UBS entities in various roles, including custodian, administrator, manager, distributor and promoter, and indicates that UBS employees serve as board members. In 2009 and 2010, the liquidators of th e 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 clai ms 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 Lux embourg 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 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 a pproximately USD 125 million of payments alleged to be fraudulent conveyances and preference payments. In 2016, the bankruptcy court dismissed these claims against the UBS entities. In February 2019, the Court of Appeals reversed the dismissal of the BMIS Trustee’s remaining claims. In August 2019, the defendants, including UBS, filed a petition to the US Supreme Court requesting that it review the Court of Appeals’ decision. The bankruptcy proceedings have been stayed pending a decision with respect to the defendants’ petition. 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 3.4 billion, of which claims with aggregate claimed damages of USD 2.4 billion have been resolved through settlements, arbitration 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 no n-purpose loans; customer complaint and arbitration 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 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 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, t he US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority in relation to their examinations of UBS’s operations. In 2011, a purported derivative action was filed on behalf of the Employee Retirement System of the Commo nwealth 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 obligati ons in connection with the issuance and underwriting of USD 3 billion of bonds by the System in 2008 and sought damages 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. Beginning in 2015, and continuing through 2017, certain agencies and public corporations of the Commonwealth of Puerto Rico (Commonwealth) defaul ted on certain interest payments on Puerto Rico bonds. In 2016, US federal legislation created an oversight board with power to oversee Puerto Rico’s finances and to restructure its debt. The oversight board has imposed a stay on the exercise of certain cr editors’ rights. In 2017, the oversight board placed certain of the bonds into a bankruptcy-like proceeding under the supervision of a Federal District Judge. These events, further defaults or any further legislative action to create a legal means of restr ucturing 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 potentia l damages sought. In May 2019 , the oversight board filed complaints in Puerto Rico federal district court bringing claims against financial, legal and accounting firms that had participated in Puerto Rico municipal b ond offerings, including UBS, seeking a return of underwriting and swap fees paid in c onnection with those offerings. UBS estimates that it received approximately USD 125 million in fees in the relevant offerings. In August 2019 and February 2020, three US insurance companies that insured issues of Puerto Rico municipal bonds sued UBS and seven other underwriters of Puerto Rico municipal bonds. The two actions seek recovery of an aggregate of USD 955 million in damages from the defendants. The plaintiffs in these cases claim that defendants faile d to reasonably investigate financial statements in the offering materials for the insured Puerto Rico bonds issued between 2002 and 2007, which plaintiffs argue they relied upon in agreeing to insure the bonds notwithstanding that they had no contractual relationship with the underwriters. Our balance sheet at 31 December 2019 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 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 For eign exchange-related regulatory matters: Beginning in 2013, numerous authorities commenced investigations concerning possible manipulation of foreign exchange markets and precious metals prices. In 2014 and 2015, UBS reached settlements with the UK Financ ial Conduct Authority (FCA) and the US Commodity Futures Trading Commission (CFTC) in connection with their foreign exchange investigations, FINMA issued an order concluding its formal proceedings relating to UBS’s foreign exchange and precious metals busi nesses, 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 terminat ed 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 f ine and was subject to probation, which ended in early January 2020. In 2019 the Europ ean Commission announced two decisions with respect to foreign exchange trading. UBS was granted immunity by the European Commission in these matters and therefore was not fined. UBS has ongoing obligations to cooperate with these authorities and to undert ake certain remediation measures. UBS has also been granted conditional 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 preciou s metals businesses. Investigations relating to foreign exchange 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 cou rts 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 resolved US federal court class actions relating to foreign currency t ransactions with the defendant banks and persons who transacted in foreign exchange futures contracts and options on such futures under a settlement agreement that provides for UBS to pay an aggregate of USD 141 million and provide cooperation to the sett lement 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 competition laws and unjust enrichment. In 20 15, 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-conspirators for their own end use. In Marc h 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 2017, two putati ve class actions were 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, and a consolidated compl aint was filed in June 2017. In March 2018, the court dismissed the consolidated complaint. In October 2018, the court granted plaintiffs’ motion seeking leave to file an amended complaint. In January 2020, UBS and 11 other banks agreed in principle with t he plaintiffs to settle the class action for a total of USD 10 million. The settlement is subject to final documentation and court approval. LIBOR and other benchmark-related regulatory matters: Numerous government agencies, including the SEC, the CFTC, th e 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 in various jurisdictions , have conducted investigations regardi ng potential improper attempts by UBS, among others, to manipulate LIBOR and other benchmark rates at certain times. UBS reached settlements or otherwise concluded investigations relating to benchmark interest rates with the investigating authorities. UBS has ongoing obligations to cooperate with the authorities with whom we have reached resolutions and to undertake certain remediation measures with respect to benchmark interest rate submissions. UBS has been granted conditional leniency or conditional immu nity from authorities in certain jurisdictions, including the Antitrust Division of the DOJ and the Swiss Competition Commission (WEKO), in connection with potential antitrust or competition law violations related to certain rates. However, UBS has not rea ched a final settlement with WEKO, as the Secretariat of WEKO has asserted that UBS does not qualify 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 derivat ives. 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 rate mortgages, preferred and debt secur ities, 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, including USD LIBOR, Euroyen TIBOR, Yen LIBO R, EURIBOR, CHF LIBOR, GBP LIBOR, SGD SIBOR and SOR and Australian BBSW, and seek unspecified compensatory and other damages under varying legal |
UBS AG | |
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |
Disclosure Of Contingent Liabilities Explanatory | Note 21 Provisions and contingent liabilities 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 su bsidiaries, 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, and the outcome and the timing of resolution ar e often difficult to predict, particularly 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 cont inuing 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 contingent 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 a s 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 agains t UBS , but are nevertheless expected 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 liabili ty 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 occu r 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 o f 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 mat ters that management considers to be material 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 wh ere available and appropriate in order to assist users in considering the magnitude of potential exposures. 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 f or 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. With respect to certain litigation, r egulatory 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 i mmaterial 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 no t 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 involv e 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 was subject to probation , which ended in early 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 license s 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 parti cipations, 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 req uirements 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 in Corporate Center 1 USD million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank Corporate Center Total 2019 Total 2018 Balance at the beginning of the year 1,003 117 0 269 1,438 2,827 2,508 Increase in provisions recognized in the income statement 188 1 0 60 10 258 905 Release of provisions recognized in the income statement (49) 0 0 (6) (27) (81) (220) Provisions used in conformity with designated purpose (350) (4) 0 (66) (97) (518) (350) Foreign currency translation / unwind of discount (10) (1) 0 (2) 0 (12) (16) Balance at the end of the year 782 113 0 255 1,325 2,475 2,827 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3, item 4 and item 7) and Corporate Center (item 2). Provisions, if any, for the matters described in items 1 and 6 of this disclosure are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this disclosure in item 5 are allocated between the Investment Bank and Corporate Center. 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 c ross-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 provision of financial services could give ris e 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 procedural 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 addition al 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. O n 26 July 2019 , t he Supreme Court reversed the decision of the Federal Administrative Court. In December 2019, the court released its written decision. The decision requires the FTA to obtain confirmation from the French authorities that transmitted data will be used only for the purposes stated in their request before transmitting any data. The stated purpose of the original request was to obtain information relating to taxes owed by account holders. Accordingly, any information transferred to the French authorities must not be passed to criminal authorities or used in connection with the ongoing case against UBS discussed in this item. Since 2013, UBS (France) S.A., UBS AG and certain former employees have been under investigation in France for alleged complicity in unlawful solicitation of clients on French territory, regarding the laundering of proceeds of tax fraud, and banking and financial solicitation by unauthorized persons. In connection with this investigation, the investigating judges ordered UBS AG to provide bail (“caution”) of EUR 1.1 billi on and UBS (France) S.A. to post bail of EUR 40 million, which was reduced on appeal to EUR 10 million. A trial in the court of first instance took place from 8 October 2018 until 15 November 2018. On 20 February 2019, the court announced a verdict finding UBS AG guilty of unlawful solicitation of clients on French territory and aggravated laundering of 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 imp osed 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 state. UBS has appealed the decision. Under French law, the judgment is suspended while the appeal is pending. The trial in the Court of Appeal is scheduled for June 2020. 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 those imposed by the court of first instance. A subsequent appeal t o 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 it followed its obligations un der 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 exceed the amounts that could be supported by the law and the facts. In partic ular, 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 2019 reflected provisions with respect to this matter in an amount of EUR 450 million (USD 505 million at 31 December 2019). The wide range of po ssible outcomes in this case contributes to a high degree of estimation uncertainty. The provision reflected on our balance sheet at 31 December 2019 reflects our best estimate of possible financial implications, although it is reasonably possible that act ual 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 so licitation 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. In June 2019 , UBS entered into a settlement agreement with the Italian tax authorities under which it paid EUR 101 million to resolve the claims asserted by the authority related to UBS AG’s potential pe rmanent establishment in Italy. In October 2019, the Judge of Pre liminary Investigations of the Milan C ourt approved an agreement with the Milan prosecutor under Article 63 of Italian Administrative Law 231 under which UBS AG, UBS Switzerland AG and UBS Monaco have paid an aggregate of EUR 10.3 million to resolve claims premised on the alleged inadequacy of historical internal controls. No admission of wrongdoing was required in connection with this resolution Our balance sheet at 31 December 2019 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 substantially 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 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 affili ate) 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 f rom originators to third-party purchasers. These whole loan sales 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 originat ed approximately USD 1.5 billion in US residential mortgage loans 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 seller, 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 enfo rce 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 appro ximately USD 2 billion. In July 2018, UBS and the trustee entered into an agreeme nt 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. In January 2020 , the settlem ent was approved by the court. Proceedings to determine how the settle ment funds will be distributed to RMBS holders are ongoing . After giving effect 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 mortgag e loans are time-barred under a decision rendered by the New York Court of Appeals. 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 Ins titutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), related to UBS’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 unsp ecified 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. On 10 December 2019 , the district court denied UBS’s motion to dismiss. Our balance sheet at 31 December 2019 reflected a provision with respect to matters described in this item 2 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 this matter cannot be determined with certainty based on currently available information and accordingly may ultimately prove to be substantially greater (or may be less) than t he 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 subjec t to inquiries by a number of regulators, including the Swiss Financial Market Supervisory Authority (FINMA) and the Luxembourg Commission de Surveillance du Secteur Financier. Those inquiries concerned two third-party funds established under Luxembourg la w, substantially all assets of which were with BMIS, as well as certain funds established in offshore jurisdictions with either direct or indirect exposure to BMIS. These funds faced severe losses, and the Luxembourg funds are in liquidation. The documenta tion establishing both funds identifies UBS entities in various roles, including custodian, administrator, manager, distributor and promoter, and indicates that UBS employees serve as board members. In 2009 and 2010, the liquidators of the two Luxembourg f unds 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 truste e for the liquidation of BMIS (BMIS Trustee). A large number of alleged beneficiaries have filed claims agains t 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 C ourt 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. Th e total amount claimed against all defendants 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 approximat ely USD 125 million of payments alleged to be fraudulent conveyances and preference payments. In 2016, the bankruptcy court dismissed these claims against the UBS entities. In February 2019, the Court of Appeals reversed the dismissal of the BMIS Trustee’s remaining claims. In August 2019, the defendants, including UBS, filed a petition to the US Supreme Court requesting that it review the Court of Appeals’ decision. The bankruptcy proceedings have been stayed pending a decision with respect to the defendan ts’ petition. 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 Incorpor ated of Puerto Rico (UBS PR) have led to multiple regulatory inquiries , as well as customer complaints and arbitrations with aggregate claimed damages of USD 3.4 billion, of which claims with aggregate claimed damages of USD 2.4 billion have been resolved through settlements, arbitration 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 co mplaint and arbitration 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, alle ging 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 plai ntiffs’ motion for class 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 Exchang e Commission (SEC) and the Financial Industry Regulatory Authority in relation to their examinations of UBS’s operations. In 2011, a purported derivative action was filed on behalf of the Employee Retirement System of the Commonwealth of Puerto Rico (Syst em) 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 i ssuance and underwriting of USD 3 billion of bonds by the System in 2008 and sought damages 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 complai nt. In 2017, the court denied defendants’ motion to dismiss the amended complaint. Beginning in 2015, and continuing through 2017, certain agencies and public corporations of the Commonwealth of Puerto Rico (Commonwealth) defaulted on certain interest paym ents on Puerto Rico bonds. In 2016, US federal legislation created an oversight board with power to oversee Puerto Rico’s finances and to restructure its debt. The oversight board has imposed a stay on the exercise of certain creditors’ rights. In 2017, th e oversight board placed certain of the bonds into a bankruptcy-like proceeding under the supervision of a Federal District Judge. These events, further defaults or any further legislative action to create a legal means of restructuring Commonwealth obliga tions 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. In May 2019 , the oversight board filed complaints in Puerto Rico federal district court bringing claims against financial, legal and accounting firms that had participated in Puerto Rico municipal b ond offerings, including UBS, seeking a return of underwriting an d swap fees paid in c onnection with those offerings. UBS estimates that it received approximately USD 125 million in fees in the relevant offerings. In August 2019 and February 2020, three US insurance companies that insured issues of Puerto Rico municipal bonds sued UBS and seven other underwriters of Puerto Rico municipal bonds. The two actions seek recovery of an aggregate of USD 955 million in damages from the defendants. The plaintiffs in these cases claim that defendants failed to reasonably investiga te financial statements in the offering materials for the insured Puerto Rico bonds issued between 2002 and 2007, which plaintiffs argue they relied upon in agreeing to insure the bonds notwithstanding that they had no contractual relationship with the und erwriters. Our balance sheet at 31 December 2019 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 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-rela ted regulatory matters: Beginning in 2013, numerous authorities commenced investigations concerning possible manipulation of foreign exchange markets and precious metals prices. In 2014 and 2015, UBS reached settlements with the UK Financial Conduct Author ity (FCA) and the US Commodity Futures Trading Commission (CFTC) in connection with their foreign exchange investigations, FINMA issued an order concluding its formal proceedings relating to UBS’s foreign exchange and precious metals businesses, and the Bo ard 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-pr osecution 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 f ine and was subject to probation, which ended in early January 2020. In 2019 the European Commission ann ounced two decisions with respect to foreign exchange trading. UBS was granted immunity by the European Commission in these matters and therefore was not fined. UBS has ongoing obligations to cooperate with these authorities and to undertake certain remedi ation measures. UBS has also been granted conditional 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 businesse s. Investigations relating to foreign exchange 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 j urisdictions 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 resolved US federal court class actions relating to foreign currency transactions with t he defendant banks and persons who transacted in foreign exchange futures contracts and options on such futures under a settlement agreement that provides for UBS to pay an aggregate of USD 141 million and provide cooperation to the settlement classes. Cer tain 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 competition laws and unjust enrichment. In 2015, a putative clas s 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-conspirators for their own end use. In March 2017, the court g ranted 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 2017, two putative class actions we re 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, and a consolidated complaint was filed in J une 2017. In March 2018, the court dismissed the consolidated complaint. In October 2018, the court granted plaintiffs’ motion seeking leave to file an amended complaint. In January 2020, UBS and 11 other banks agreed in principle with the plaintiffs to se ttle the class action for a total of USD 10 million. The settlement is subject to final documentation and court approval. 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 in various jurisdictions , have conducted investigations regarding potential improp er attempts by UBS, among others, to manipulate LIBOR and other benchmark rates at certain times. UBS reached settlements or otherwise concluded investigations relating to benchmark interest rates with the investigating authorities. UBS has ongoing obligat ions to cooperate with the authorities with whom we have reached resolutions and to undertake certain remediation measures with respect to benchmark interest rate submissions. UBS has been granted conditional leniency or conditional immunity from authoriti es in certain jurisdictions, including the Antitrust Division of the DOJ and the Swiss Competition Commission (WEKO), in connection with potential antitrust or competition law violations related to certain rates. However, UBS has not reached a final settle ment with WEKO, as the Secretariat of WEKO has asserted that UBS does not qualify 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 derivat ives. 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 rate mortgages, preferred and debt secur ities, 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, including USD LIBOR, Euroyen TIBOR, Yen LIBO R, EURIBOR, CHF LIBOR, GBP LIBOR, SGD SIBOR and SOR and Australian BBSW, and seek unspecified compensatory and other damages under varying legal theories. USD LIBOR class and individ |
Other financial and non-finan_2
Other financial and non-financial liabilities | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Other accrued expenses 1,928 2,192 Accrued interest expenses 1,562 1,544 Settlement and clearing accounts 1,379 1,486 Lease liabilities 1 3,943 Other 900 1,663 Total other financial liabilities measured at amortized cost 9,712 6,885 1 Relates to the adoption of IFRS 16 on 1 January 2019. Refer to Note 1 for more information. b) Other financial liabilities designated at fair value USD million 31.12.19 31.12.18 Financial liabilities related to unit-linked investment contracts 28,145 21,679 Securities financing transactions 5,742 9,461 Over-the-counter debt instruments 2,022 2,450 of which: life-to-date own credit (gain) / loss (4) (51) Other 31 5 Total other financial liabilities designated at fair value 1 35,940 33,594 1 As of 31 December 2019 and 31 December 2018, 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 amount. c) Other non-financial liabilities USD million 31.12.19 31.12.18 Compensation-related liabilities 6,812 7,278 of which: Deferred Contingent Capital Plan 1,855 1,983 of which: financial advisor compensation plans 1,463 1,458 of which: other compensation plans 2,310 2,480 of which: net defined benefit pension and post-employment liabilities 633 775 of which: other compensation-related liabilities 1 552 581 Current and deferred tax liabilities 1,163 1,002 VAT and other tax payables 475 431 Deferred income 141 215 Other 202 98 Total other non-financial liabilities 8,794 9,022 1 Includes liabilities for payroll taxes and untaken vacation. |
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 31.12.19 31.12.18 Other accrued expenses 1,697 1,911 Accrued interest expenses 1,596 1,501 Settlement and clearing accounts 1,368 1,477 Lease liabilities 1 3,858 Other 1,854 2,688 Total other financial liabilities measured at amortized cost 10,373 7,576 1 Relates to the adoption of IFRS 16 on 1 January 2019. Refer to Note 1 for more information. b) Other financial liabilities designated at fair value USD million 31.12.19 31.12.18 Financial liabilities related to unit-linked investment contracts 28,145 21,679 Securities financing transactions 5,742 9,461 Over-the-counter debt instruments 2,022 2,450 of which: life-to-date own credit (gain) / loss (4) (51) Funding from UBS Group AG and its subsidiaries 217 Other 31 5 Total other financial liabilities designated at fair value 1 36,157 33,594 1 As of 31 December 2019 and 31 December 2018, 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 amount. c) Other non-financial liabilities USD million 31.12.19 31.12.18 Compensation-related liabilities 4,296 4,645 of which: financial advisor compensation plans 1,459 1,454 of which: other compensation plans 1,750 1,929 of which: net defined benefit pension and post-employment liabilities 629 773 of which: other compensation-related liabilities 1 458 490 Current and deferred tax liabilities 1,091 915 VAT and other tax payables 445 403 Deferred income 134 215 Other 202 98 Total other non-financial liabilities 6,168 6,275 1 Includes liabilities for payroll taxes and untaken vacation. |
Expected credit loss measuremen
Expected credit loss measurement | 12 Months Ended |
Dec. 31, 2019 | |
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 were USD 78 million in 2019, reflecting net credit loss expenses of USD 100 million related to credit-impaired (stage 3) positions, partly offset by USD 22 million of net releases in expected credit loss expense all o wances from stage 1 and 2 positions. In the Investment Bank, increased stage 1 and 2 ECL allowances and provisions recognized over the year primarily relate d to loans and credit facilities originated during 2019 and to changes in credit quality of existing assets , part ly offset by a change in the applied credit risk models . In Personal & Corporate Banking and Global Wealth Management, ECL allowances and provisions slightly decreased over the year , primarily attributable to a minor improvement in book quality following continued positive developments of selected economic input data . Stage 3 net losses of USD 100 million were recognized across a number of defaulted positions, mainly in Personal & Corporate Banking ( USD 44 million) and , to a lesser extent , in the Investment Bank ( USD 26 million) and Global Wealth Manage ment ( USD 23 million). Note 23 Expected credit loss measurement (continued) b) Changes to ECL models, scenarios, scenario weights and key inputs Refer to Note 1a for information about the principles governing ECL models, scenarios, scenario weights and key inputs applied. In addition to the quarterly updates of market and behavioral data, which are relevant input factors to the credit rating methodology and the estimation of the probab ility of default (PD) and the loss given default (LGD), one significant change was applied to the models used to calculate ECLs for large corporate clients in the Investment B ank. D uring 2019 , the data set was refreshed and aligned with the process applied to regulatory stress testing in the US, which resulted in a net release in expected credit loss expense allowances and provisions from stage 1 and 2 positions of USD 20 million . For portfolios where internal default data is insufficient for modeling purposes, UBS relies on external data providers. F our scenarios and the related macroeconomic factors were reviewed in the fourth quarter of 2019 in light of the economic and political conditions prevailing at year-end. The selection of the three hypothetical scenarios remained essentially unchanged, although the narrative of the severe downside scenario was updated to include additional risks. The key aspects of the narrative for the scen arios are summarized below . – The baseline scenario assumes continued growth in all key markets, albeit at a slower rate than in 2019. As a consequence , unemployment rates are not expected to fall noticeably, except in the US. Interest rates remain at low levels in line with the central bank policies pursued in the eurozone , Switzerland and in the US. – The upside scenario assumes continued accommodative central bank policies in developed economies and a gradual decline of geopolitical and economic uncertainty. Underlying macroeconomic conditions improve, and asset values inc rease substantially. – The mild downside scenario is based on a monetary policy tightening assumption, implemented by major central banks to deflate a potential asset price bubble, thus causing a mild recession. – The narrative for the severe downside scenar io, which during 2019 focused primarily on developments in the euro zone, has been broadened to cover a severe recessionary phase affecting all major economies. A wide-ranging slowdown is mainly caused by global trade tensions and debt sustainability concer ns in Europe. Trade and business confidence are affected, being particularly felt in the key export markets for Swiss industry. In each quarter the bases to which scenario-specific forecasts are applied, and the baseline forecast itself, were updated usi ng the most recently available information (key macroeconomic data and relevant market indicators). The key forward-looking macroeconomic variables applied to the four scenarios as of 31 December 2019 are summarized in the table on the following page. The d e termination of scenario weights is subject to the process and governance outlined in Note 1a item 3g. An econometric model is used to provide input into the scenario weight assessment process. The model output gives a first estimate of the probability that the GDP assumptions used for each scenario materialize, according to the historically observed deviations of GDP growth from trend growth. Since the probability estimates produced by the model do not include an assessment of the underlying economic or political causes, management positions the model output into the context of current conditions and future expectations , and applies judgment in determining the final scenario weights. The reviews during 2019 reflected the increasing probability of a weakening economy in key markets, 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 year-end 2019, management reflected these developments by giving more weight to the severe downside scenario compared with 31 December 2018. 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 loans to private clients and real estate financing. The mild downside scenario therefore reflects a significant rise in interest rates as a key component and is also particularly relevant for credit risk management purposes. As noted above, scenario weights are a reflection of risks identified during management’s assessment of economic and geopolitical risks and not a specific expectation that a particular narrative with its defined macroeconomic factors (e.g., interest rates) wi ll 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 c annot be modeled based on observed history; given this consideration, the weight assigned to the severe downside case was also based on management’s assessment of the geopolitical risks that might affect all of our key markets and portfolios. ECL scenario Assigned weights in % 31.12.1 9 3 1. 12 .18 Upside 7.5 1 0.0 Baseline 42.5 45.0 Mild downside 35.0 35 .0 Severe downside 15.0 10.0 One year Three years cumulative Key parameters Upside Baseline Mild downside Severe downside Upside Baseline Mild downside Severe downside Real GDP growth (% change) United States 4.3 1.9 (0.5) (6.4) 10.9 6.4 0.0 (4.3) Eurozone 3.6 1.0 (0.3) (9.1) 9.5 2.8 0.7 (10.8) Switzerland 4.2 1.5 (0.8) (7.0) 10.4 4.8 (0.1) (6.2) Consumer price index (% change) United States 3.1 1.8 4.9 (1.2) 8.6 6.2 11.1 0.4 Eurozone 2.1 1.3 2.8 (1.3) 6.7 4.3 6.2 (1.7) Switzerland 1.5 0.8 1.8 (1.8) 5.5 2.7 4.2 (1.6) Unemployment rate (change, percentage points) United States (0.9) (0.4) 0.3 5.7 (0.9) (0.5) 0.7 5.6 Eurozone (1.4) (0.1) 0.6 5.6 (1.9) (0.2) 1.0 7.9 Switzerland (0.3) 0.1 0.5 2.6 (0.8) 0.3 1.2 3.6 Fixed income: 10-year government bonds (change in yields, basis points) USD 61.0 0.2 187.5 (100.0) 274.1 10.1 262.5 (75.0) EUR 65.0 8.4 112.5 (30.0) 221.7 28.2 225.0 (20.0) CHF 73.0 9.5 187.5 (70.0) 283.0 30.0 262.5 (35.0) Equity indices (% change) S&P 500 14.8 3.5 (20.3) (53.0) 42.7 9.5 (23.5) (42.9) EuroStoxx 50 17.0 0.5 (15.5) (60.0) 44.3 4.4 (14.7) (52.9) SPI 13.9 1.4 (19.0) (56.2) 42.2 5.3 (24.0) (46.8) Swiss real estate (% change) Single-Family Homes 4.5 0.1 (7.3) (15.2) 14.1 2.3 (15.8) (27.0) Other real estate (% change) United States (S&P/Case-Shiller) 6.2 4.0 (4.0) (13.3) 17.7 16.7 (11.9) (23.4) Eurozone (House Price Index) 4.9 1.2 (1.2) (23.0) 15.4 2.2 (6.8) (33.2) c) Development of ECL allowances and provisions The ECL allowances and provisions recognized in the per iod are impacted by a variety of factors, such as : – origination of new instruments during the period; – effect of passage of time as the ECLs on an instrument for the remaining lifetime reduces (all other factors remaining the same); – discount unwind within E CLs 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-m onth ECL” to the recognition of “lifetime ECLs” (and vice vers a) following transfers between stages 1 and 2 ; – movements from stages 1 and 2 to stage 3 (credit-impaired status) when default has become certain and probability of default (PD) increases to 100 % (or vice versa); – changes in credit risk and/or economic forecasting models or updates to model parameters; and – 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 on- and off - balance sheet financial instruments and other credit lines in scope of ECL requirements between the beginning and the end of the period du e 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 31 December 2018 (1,054) (176) (183) (695) ECL movements due to stage transfer 1 0 (96) 103 (8) Net movement from new and derecognized transactions 2 (53) (66) 10 3 of which: Private clients with mortgages (1) (4) 3 0 of which: Real estate financing (3) (5) 2 0 of which: Large corporate clients (6) (14) 8 0 of which: SME clients (16) (14) (2) 0 Book quality movements (52) 141 (97) (96) Remeasurements due to stage transfers 3 (125) 110 (138) (97) of which: Private clients with mortgages (5) 70 (74) (1) of which: Real estate financing 5 21 (16) 0 of which: Large corporate clients (45) 1 (11) (35) of which: SME clients (64) 6 (17) (53) Remeasurements without stage transfers 4 73 31 41 1 of which: Private clients with mortgages 22 2 30 (9) of which: Real estate financing 1 0 0 1 of which: Large corporate clients (24) (10) 0 (14) of which: SME clients 35 9 10 17 Model and methodology changes 5 26 17 9 0 Total ECL movements with profit or loss impact 6 (78) (4) 25 (100) Other allowance and provision movements 105 (1) (2) 108 Write-offs / recoveries 7 130 0 0 130 Reclassifications 8 0 0 0 0 Foreign exchange movements 9 (8) (1) (2) (4) Other (19) 0 0 (18) Balance as of 31 December 2019 (1,029) (181) (160) (688) 1 Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer. 2 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. 3 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 4 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. 5 Represents the change in the allowances and provisions related to changes in models and methodologies. Refer to Note 23b for more information. 6 Includes ECL movements due to stage transfers, ECL movements from new and derecognized transactions, book quality changes and model and methodology changes. 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. 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 1 0 (97) 95 2 Net movement from new and derecognized transactions 2 (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 3 (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 4 (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 5 (13) (2) (11) 0 Subtotal ECL movements with profit or loss impact 6 (104) (30) 11 (86) 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 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. 3 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 4 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. 5 Represents the change in the allowances and provisions related to changes in models and methodologies. 6 UBS has restated ECL movements with profit or loss (P&L) impact to include ECL movements due to stage transfer. This aligns with a change in approach adopted in 2019 to allow for the total ECL P&L impacts by stage to be disclosed, including ECL movements due to stage transfers, ECL movements from new and derecognized transactions, book quality changes, model and methodology changes and foreign exchange rates. 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 requirements 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 balance sheet subje ct 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 enhancements, su ch 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 31.12.19 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 107.1 107.1 Loans and advances to banks 2 12.4 0.0 12.4 Receivables from securities financing transactions 84.2 77.6 5.8 0.8 Cash collateral receivables on derivative instruments 3,4 23.3 14.4 8.9 Loans and advances to customers 5 326.8 18.4 101.4 174.7 17.1 1.1 14.0 Other financial assets measured at amortized cost 23.0 0.1 0.4 0.0 1.3 21.1 Total financial assets measured at amortized cost 576.8 18.6 179.4 174.7 24.3 14.4 0.0 1.1 164.4 Financial assets measured at fair value through other comprehensive income – debt 6.3 6.3 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 583.2 18.6 179.4 174.7 24.3 14.4 0.0 1.1 170.7 Guarantees 6 18.1 1.0 3.0 0.1 1.7 2.5 9.8 Loan commitments 6 27.5 0.2 1.9 1.3 5.8 0.2 0.2 18.0 Forward starting transactions, reverse repurchase and securities borrowing agreements 1.7 1.7 0.0 Committed unconditionally revocable credit lines 35.1 0.3 8.3 4.9 3.6 0.0 17.9 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 82.3 1.5 14.9 6.3 11.0 0.0 0.2 2.8 45.7 Maximum exposure to credit risk (continued) 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 1 Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities. 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. e) Financial assets subject to credit risk by rating category The table below shows the credit qua lity and the maximum exposure to credit risk based on the Group ’s internal credit rating system 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 allowances. Refer to the “ Risk management and control ” section of this report for more detail s regarding the Group’ s internal grading system Financial assets subject to credit risk by rating category USD million 31.12.19 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 105,195 1,873 0 0 0 0 107,068 0 107,068 of which: stage 1 105,195 1,873 0 0 0 0 107,068 0 107,068 Loans and advances to banks 309 9,832 1,326 687 298 1 12,454 (6) 12,447 of which: stage 1 309 9,832 1,326 677 228 0 12,371 (4) 12,367 of which: stage 2 0 0 0 10 71 0 81 (1) 80 of which: stage 3 0 0 0 0 0 1 1 (1) 0 Receivables from securities financing transactions 21,089 16,889 14,366 28,815 3,088 0 84,246 (2) 84,245 of which: stage 1 21,089 16,889 14,366 28,815 3,088 0 84,246 (2) 84,245 Cash collateral receivables on derivative instruments 4,899 10,553 5,033 2,765 39 0 23,289 0 23,289 of which: stage 1 4,899 10,553 5,033 2,765 39 0 23,289 0 23,289 Loans and advances to customers 1,744 174,982 59,240 70,528 18,748 2,308 327,550 (764) 326,786 of which: stage 1 1,744 174,328 56,957 62,435 14,117 0 309,581 (82) 309,499 of which: stage 2 0 655 2,283 8,093 4,631 0 15,661 (123) 15,538 of which: stage 3 0 0 0 0 0 2,308 2,308 (559) 1,749 Other financial assets measured at amortized cost 13,031 1,560 390 7,158 312 672 23,123 (143) 22,980 of which: stage 1 13,031 1,549 381 6,747 280 0 21,988 (35) 21,953 of which: stage 2 0 11 9 412 32 0 463 (13) 451 of which: stage 3 0 0 0 0 0 672 672 (95) 576 Total financial assets measured at amortized cost 146,267 215,690 80,354 109,952 22,485 2,981 577,730 (915) 576,815 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 5,854 450 0 41 0 0 6,345 0 6,345 Total on-balance sheet financial instruments 152,120 216,139 80,354 109,994 22,485 2,981 584,075 (915) 583,159 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 31.12.19 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 857 4,932 6,060 5,450 761 82 18,142 (42) of which: stage 1 857 4,931 6,048 5,218 704 0 17,757 (8) of which: stage 2 0 1 12 233 57 0 304 (1) of which: stage 3 0 0 0 0 0 82 82 (33) Irrevocable loan commitments 2,548 10,068 4,862 5,859 4,160 50 27,547 (35) of which: stage 1 2,548 10,068 4,862 5,722 3,878 0 27,078 (30) of which: stage 2 0 0 0 137 282 0 419 (5) of which: stage 3 0 0 0 0 0 50 50 0 Forward starting reverse repurchase and securities borrowing agreements 0 672 50 936 0 0 1,657 0 Total off-balance sheet financial instruments 3,405 15,672 10,972 12,245 4,922 132 47,347 (77) Other credit lines Committed unconditionally revocable credit lines 632 12,459 6,231 7,169 8,554 46 35,092 (34) of which: stage 1 628 12,422 6,120 6,789 7,889 0 33,848 (17) of which: stage 2 4 37 111 380 665 0 1,197 (17) of which: stage 3 0 0 0 0 0 46 46 0 Irrevocable committed prolongation of existing loans 25 1,399 870 633 359 4 3,289 (3) of which: stage 1 25 1,399 870 633 359 0 3,285 (3) of which: stage 2 0 0 0 0 0 0 0 0 of which: stage 3 0 0 0 0 0 4 4 0 Total other credit lines 657 13,858 7,101 7,801 8,913 50 38,381 (37) 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 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. 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 again st credit- impaired loan exposure s (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 of foreclosed property recorded in our balance sheet at the end of 201 9 and 201 8 amounted to USD 86 million and USD 6 0 million, respectively. The firm 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 ow n 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 31.12.19 Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to banks 1 (1) 0 0 Loans and advances to customers 2,308 (559) 1,749 1,698 of which: Private clients with mortgages 1,000 (41) 959 959 of which: Real estate financing 21 (4) 17 13 of which: Large corporate clients 192 (98) 94 77 of which: SME clients 791 (271) 521 461 of which: Lombard 116 (18) 98 89 Other financial assets measured at amortized cost 672 (95) 576 22 Total credit-impaired financial assets measured at amortized cost 2,981 1 (655) 1 2,326 1,720 Guarantees 82 (33) 10 of which: Large corporate clients 24 (9) 8 of which: SME clients 58 (23) 2 Loan commitments 50 0 12 Committed unconditionally revocable credit lines 46 0 5 Irrevocable committed prolongation of existing loans 4 0 0 Total off-balance sheet financial instruments and other credit lines 182 1 (33) 1 27 1 Under IFRS 9, adopted on 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). 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 1 Under IFRS 9, adopted on 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). g) Sensitivity information 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 probability of default ( PD ) and loss given default ( LGD ) rely on market and statistical data, which have been found to correlate well with historically observed defaults in sufficiently homogen eo us segments. The risk sensitivities for each of the IFRS 9 reporting segments to such factors ha ve been summarized in Note 10. Emerging new systematic risk factors may not be sufficiently taken into account by existing models and may affect the responsiv eness thereof to a changing environment. This risk is deemed to be immaterial and is monitored through regular model review processes . I t is deemed to be of less importance in particular 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 w |
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 were USD 78 million in 2019, reflecting net credit loss expenses of USD 100 million related to credit-impaired (stage 3) positions, partly offset by USD 22 million of net releases in expected credit loss expense all o wances from stage 1 and 2 positions. In the Investme nt Bank, increased stage 1 and 2 ECL allowances and provisions recognized over the year primarily relate d to loans and credit facilities originated during 2019 and to changes in credit quality of existing assets , part ly offset by a change in the applied credit risk models . In Personal & Corporate Banking and Global Wealth Management, ECL allowances and provisions slightly decreased over the year , primarily attributable to a minor improvement in book quality following continued positive developments of selected economic input data . Stage 3 net losses of USD 100 million were recognized across a number of defaulted positions, mainly in Personal & Corporate Banking (USD 44 million) and , to a lesser extent , in the Investment Bank (USD 26 million) and Global Wealt h Management (USD 23 million). b) Changes to ECL models, scenarios, scenario weights and key inputs Refer to Note 1a for information about the principles governing ECL models, scenarios, scenario weights and key inputs applied. In addition to the quarterly updates of market and behavioral data, which are relevant input factors to the credit rating methodology and the estimation of the p robability of default (PD) and the loss given default (LGD), one significant change was applied to the models used to calculate ECLs for large corporate clients in the Investment B ank. D uring 2019, the data set was refreshed and aligned with the process ap plied to regulatory stress testing in the US, which resulted in a net release in expected credit loss expense allowances and provisions from stage 1 and 2 positions of USD 20 million . For portfolios where internal default data is insufficient for modeling purposes, UBS AG relies on external data providers. F our scenarios and the related macroeconomic factors were reviewed in the fourth quarter of 2019 in light of the economic and political conditions prevailing at year-end. The selection of the three hypothetical scenarios remained essentially unchanged, although the narrative of the severe downside scenario was updated to include additional risks. The key aspects of the narrative for the scen arios are summarized below . – The baseline scenario assumes c ontinued growth in all key markets, albeit at a slower rate than in 2019. As a consequence , unemployment rates are not expected to fall noticeably, except in the US. Interest rates remain at low levels in line with the central bank policies pursued in the eurozone , Switzerland and in the US. – The upside scenario assumes continued accommodative central bank policies in developed economies and a gradual decline of geopolitical and economic uncertainty. Underlying macroeconomic conditions improve, and asset va lues increase substantially. – The mild downside scenario is based on a monetary policy tightening assumption, implemented by major central banks to deflate a potential asset price bubble, thus causing a mild recession. – The narrative for the severe downsid e scenario, which during 2019 focused primarily on developments in the euro zone, has been broadened to cover a severe recessionary phase affecting all major economies. A wide-ranging slowdown is mainly caused by global trade tensions and debt sustainabilit y concerns in Europe. Trade and business confidence are affected, being particularly felt in the key export markets for Swiss industry. In each quarter the bases to which scenario-specific forecasts are applied, and the baseline forecast itself, were upd ated using the most recently available information (key macroeconomic data and relevant market indicators). The key forward-looking macroeconomic variables applied to the four scenarios as of 31 December 2019 are summarized in the table on the following pa ge. The d e termination of scenario weights is subject to the process and governance outlined in Note 1a item 3g. An econometric model is used to provide input into the scenario weight assessment process. The model output gives a first estimate of the probability that the GDP assumptions used for each scenario materialize, according to the historically observed deviations of GDP growth from trend growth. Since the probability estimates produced by the model do not include an assessment of the underlying economic or political causes, management positions the model output into the context of current conditions and future expectations , and applies judgment in determining the final scenario weights. The reviews during 2019 reflected the increasing probability of a weakening economy in key markets, 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 year-end 2019, management reflected these developments by giving more weight to the severe downside scenario compared with 31 December 2018. Non-linearity of credit losses in relation to macroeconomic factors is usually most pronounced in portfolios that are most sensitive to interest rates, es pecially in the areas of mortgage loans to private clients and real estate financing. The mild downside scenario therefore reflects a significant rise in interest rates as a key component and is also particularly relevant for credit risk management purpose s. As noted above, scenario weights are a reflection of risks identified during management’s assessment of economic and geopolitical risks and not a specific expectation that a particular narrative with its defined macroeconomic 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 facto rs that cannot be modeled based on observed history; given this consideration, the weight assigned to the severe downside case was also based on management’s assessment of the geopolitical risks that might affect all of our key markets and portfolios. EC L scenario Assigned weights in % 31.12.1 9 3 1. 12 .18 Upside 7.5 1 0.0 Baseline 42.5 45.0 Mild downside 35.0 35 .0 Severe downside 15.0 10.0 One year Three years cumulative Key parameters Upside Baseline Mild downside Severe downside Upside Baseline Mild downside Severe downside Real GDP growth (% change) United States 4.3 1.9 (0.5) (6.4) 10.9 6.4 0.0 (4.3) Eurozone 3.6 1.0 (0.3) (9.1) 9.5 2.8 0.7 (10.8) Switzerland 4.2 1.5 (0.8) (7.0) 10.4 4.8 (0.1) (6.2) Consumer price index (% change) United States 3.1 1.8 4.9 (1.2) 8.6 6.2 11.1 0.4 Eurozone 2.1 1.3 2.8 (1.3) 6.7 4.3 6.2 (1.7) Switzerland 1.5 0.8 1.8 (1.8) 5.5 2.7 4.2 (1.6) Unemployment rate (change, percentage points) United States (0.9) (0.4) 0.3 5.7 (0.9) (0.5) 0.7 5.6 Eurozone (1.4) (0.1) 0.6 5.6 (1.9) (0.2) 1.0 7.9 Switzerland (0.3) 0.1 0.5 2.6 (0.8) 0.3 1.2 3.6 Fixed income: 10-year government bonds (change in yields, basis points) USD 61.0 0.2 187.5 (100.0) 274.1 10.1 262.5 (75.0) EUR 65.0 8.4 112.5 (30.0) 221.7 28.2 225.0 (20.0) CHF 73.0 9.5 187.5 (70.0) 283.0 30.0 262.5 (35.0) Equity indices (% change) S&P 500 14.8 3.5 (20.3) (53.0) 42.7 9.5 (23.5) (42.9) EuroStoxx 50 17.0 0.5 (15.5) (60.0) 44.3 4.4 (14.7) (52.9) SPI 13.9 1.4 (19.0) (56.2) 42.2 5.3 (24.0) (46.8) Swiss real estate (% change) Single-Family Homes 4.5 0.1 (7.3) (15.2) 14.1 2.3 (15.8) (27.0) Other real estate (% change) United States (S&P/Case-Shiller) 6.2 4.0 (4.0) (13.3) 17.7 16.7 (11.9) (23.4) Eurozone (House Price Index) 4.9 1.2 (1.2) (23.0) 15.4 2.2 (6.8) (33.2) c) Development of ECL allowances and provisions The ECL allowances and provisions recognized in the per iod are impacted by a variety of factors, such as : – origination of new instruments during the period; – effect of passage of time as the ECLs on an instrument for the remaining lifetime reduces (all other factors remaining the same); – discount unwind within E CLs 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-m onth ECL” to the recognition of “lifetime ECLs” (and vice vers a) following transfers between stages 1 and 2 ; – movements from stages 1 and 2 to stage 3 (credit-impaired status) when default has become certain and probability of default (PD) increases to 100 % (or vice versa); – changes in credit risk and/or economic forecasting models or updates to model parameters; and – 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 on- and off - balance sheet financial instruments and other credit lines in scope of ECL requirements between the beginning and th e 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 31 December 2018 (1,054) (176) (183) (695) ECL movements due to stage transfer 1 0 (96) 103 (8) Net movement from new and derecognized transactions 2 (53) (66) 10 3 of which: Private clients with mortgages (1) (4) 3 0 of which: Real estate financing (3) (5) 2 0 of which: Large corporate clients (6) (14) 8 0 of which: SME clients (16) (14) (2) 0 Book quality movements (52) 141 (97) (96) Remeasurements due to stage transfers 3 (125) 110 (138) (97) of which: Private clients with mortgages (5) 70 (74) (1) of which: Real estate financing 5 21 (16) 0 of which: Large corporate clients (45) 1 (11) (35) of which: SME clients (64) 6 (17) (53) Remeasurements without stage transfers 4 73 31 41 1 of which: Private clients with mortgages 22 2 30 (9) of which: Real estate financing 1 0 0 1 of which: Large corporate clients (24) (10) 0 (14) of which: SME clients 35 9 10 17 Model and methodology changes 5 26 17 9 0 Total ECL movements with profit or loss impact 6 (78) (4) 25 (100) Other allowance and provision movements 105 (1) (2) 108 Write-offs / recoveries 7 130 0 0 130 Reclassifications 8 0 0 0 0 Foreign exchange movements 9 (8) (1) (2) (4) Other (19) 0 0 (18) Balance as of 31 December 2019 (1,029) (181) (160) (688) 1 Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer. 2 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. 3 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 4 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. 5 Represents the change in the allowances and provisions related to changes in models and methodologies. Refer to Note 23b for more information. 6 Includes ECL movements due to stage transfers, ECL movements from new and derecognized transactions, book quality changes and model and methodology changes. 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. 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 . 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 1 0 (97) 95 2 Net movement from new and derecognized transactions 2 (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 3 (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 4 (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 5 (13) (2) (11) 0 Subtotal ECL movements with profit or loss impact 6 (104) (30) 11 (86) 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 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. 3 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 4 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. 5 Represents the change in the allowances and provisions related to changes in models and methodologies. 6 UBS has restated ECL movements with profit or loss (P&L) impact to include ECL movements due to stage transfer. This aligns with a change in approach adopted in 2019 to allow for the total ECL P&L impacts by stage to be disclosed, including ECL movements due to stage transfers, ECL movements from new and derecognized transactions, book quality changes, model and methodology changes and foreign exchange rates. 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 requirements and t he 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 balance sheet subject to credit risk and the notional amounts for off-balance sheet arrangements. Where information is available, collateral is pre sented 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 exposur e 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 31.12.19 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 107.1 107.1 Loans and advances to banks 2 12.4 0.0 12.3 Receivables from securities financing transactions 84.2 77.6 5.8 0.8 Cash collateral receivables on derivative instruments 3,4 23.3 14.4 8.9 Loans and advances to customers 5 328.0 19.4 101.4 174.7 17.1 1.1 14.3 Other financial assets measured at amortized cost 23.0 0.1 0.4 0.0 1.3 21.2 Total financial assets measured at amortized cost 578.0 19.5 179.4 174.7 24.3 14.4 0.0 1.1 164.6 Financial assets measured at fair value through other comprehensive income – debt 6.3 6.3 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 584.3 19.5 179.4 174.7 24.3 14.4 0.0 1.1 171.0 Guarantees 6 18.1 1.0 3.0 0.1 1.7 2.5 9.8 Loan commitments 6 27.5 0.2 1.9 1.3 5.8 0.2 0.2 18.0 Forward starting transactions, reverse repurchase and securities borrowing agreements 1.7 1.7 0.0 Committed unconditionally revocable credit lines 36.9 0.3 8.3 4.9 3.6 0.0 19.8 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 84.2 1.5 14.9 6.3 11.0 0.0 0.2 2.8 47.6 Maximum exposure to credit risk (continued) 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 1 Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities. 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. 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 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 counterparties, 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 regarding UBS AG ’ s internal grading system Financial assets subject to credit risk by rating category USD million 31.12.19 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 105,195 1,873 0 0 0 0 107,068 0 107,068 of which: stage 1 105,195 1,873 0 0 0 0 107,068 0 107,068 Loans and advances to banks 309 9,764 1,326 687 298 1 12,386 (6) 12,379 of which: stage 1 309 9,764 1,326 677 228 0 12,303 (4) 12,299 of which: stage 2 0 0 0 10 71 0 81 (1) 80 of which: stage 3 0 0 0 0 0 1 1 (1) 0 Receivables from securities financing transactions 21,089 16,889 14,366 28,815 3,088 0 84,246 (2) 84,245 of which: stage 1 21,089 16,889 14,366 28,815 3,088 0 84,246 (2) 84,245 Cash collateral receivables on derivative instruments 4,899 10,553 5,033 2,765 39 0 23,289 0 23,289 of which: stage 1 4,899 10,553 5,033 2,765 39 0 23,289 0 23,289 Loans and advances to customers 1,744 176,189 59,240 70,528 18,748 2,308 328,756 (764) 327,992 of which: stage 1 1,744 175,534 56,957 62,435 14,117 0 310,787 (82) 310,705 of which: stage 2 0 655 2,283 8,093 4,631 0 15,661 (123) 15,538 of which: stage 3 0 0 0 0 0 2,308 2,308 (559) 1,749 Other financial assets measured at amortized cost 13,030 1,592 390 7,158 312 672 23,154 (143) 23,012 of which: stage 1 13,030 1,581 381 6,747 280 0 22,019 (35) 21,985 of which: stage 2 0 11 9 412 32 0 463 (13) 451 of which: stage 3 0 0 0 0 0 672 672 (95) 576 Total financial assets measured at amortized cost 146,267 216,860 80,354 109,952 22,485 2,981 578,899 (915) 577,985 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 5,854 450 0 41 0 0 6,345 0 6,345 Total on balance sheet financial instruments 152,120 217,309 80,354 109,994 22,485 2,981 585,245 (915) 584,329 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 31.12.19 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 857 4,932 6,060 5,450 761 82 18,142 (42) of which: stage 1 857 4,931 6,048 5,218 704 0 17,757 (8) of which: stage 2 0 1 12 233 57 0 304 (1) of which: stage 3 0 0 0 0 0 82 82 (33) Irrevocable loan commitments 2,548 10,068 4,862 5,859 4,160 50 27,547 (35) of which: stage 1 2,548 10,068 4,862 5,722 3,878 0 27,078 (30) of which: stage 2 0 0 0 137 282 0 419 (5) of which: stage 3 0 0 0 0 0 50 50 0 Forward starting reverse repurchase and securities borrowing agreements 0 672 50 936 0 0 1,657 0 Total off balance sheet financial instruments 3,405 15,672 10,972 12,245 4,922 132 47,347 (77) Other credit lines Committed unconditionally revocable credit lines 632 14,346 6,231 7,169 8,554 46 36,979 (34) of which: stage 1 632 14,309 6,120 6,789 7,889 0 35,740 (17) of which: stage 2 0 37 111 380 665 0 1,193 (17) of which: stage 3 0 0 0 0 0 46 46 0 Irrevocable committed prolongation of existing loans 25 1,399 870 633 359 4 3,289 (3) of which: stage 1 25 1,399 870 633 359 0 3,285 (3) of which: stage 2 0 0 0 0 0 0 0 0 of which: stage 3 0 0 0 0 0 4 4 0 Total other credit lines 657 15,745 7,101 7,801 8,913 50 40,268 (37) 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 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. 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 credit- impaired loan exposure s (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 amount of foreclosed property recorded in our balance sheet at the end of 201 9 and 201 8 amounted to USD 86 million and USD 6 0 million, respectively. The firm 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 31.12.19 Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to banks 1 (1) 0 0 Loans and advances to customers 2,308 (559) 1,749 1,698 of which: Private clients with mortgages 1,000 (41) 959 959 of which: Real estate financing 21 (4) 17 13 of which: Large corporate clients 192 (98) 94 77 of which: SME clients 791 (271) 521 461 of which: Lombard 116 (18) 98 89 Other financial assets measured at amortized cost 672 (95) 576 22 Total credit-impaired financial assets measured at amortized cost 2,981 1 (655) 1 2,326 1,720 Guarantees 82 (33) 10 of which: Large corporate clients 24 (9) 8 of which: SME clients 58 (23) 2 Loan commitments 50 0 12 Committed unconditionally revocable credit lines 46 0 5 Irrevocable committed prolongation of existing loans 4 0 0 Total off-balance sheet financial instruments and other credit lines 182 1 (33) 1 27 1 Under IFRS 9, adopted on 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). 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 1 Under IFRS 9, adopted on 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). g) Sensitivity informat ion 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 probability of default ( PD ) and loss given default ( LGD ) rely on market and statistical data, which have been found to correlate well with historically observed defaults in sufficiently homogeneous segments. The risk sensitivit ies for each of the IFRS 9 reporting segments to such factors ha ve been summarized in Note 10. Emerging new systematic risk factors may not be sufficiently taken into account by existing models and may affect the responsiveness thereof to a changing environment. This risk is deemed to be immaterial and is monitored through regular model re view processes . I t is deemed to be of less importance in particular 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 weak n |
Fair value measurement
Fair value measurement | 12 Months Ended |
Dec. 31, 2019 | |
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 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 bet ween 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 inp uts 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 accordance with IFRS. The fair v alue hierarchy is based on the transparency of inputs to the valuation of an asset or liability as of the measurement. In certain cases, the inputs used to measure fair value may fall within different levels of the fair value hierarchy. For disclosure purp oses, 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 observable market data. Fair values are determined using quoted prices in active markets for identical assets or liabilities, where available. An active 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 risk s, 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 determinati on 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 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 th e 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 individual in strument, 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 substan tially 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 instrument 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 da y-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 procedura l 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. Respons ibility 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 exte rnal 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 independent of the business divisions. Independent price verification is perfor med 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 sou rces 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 parameter s 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 independent 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 31.12.19 31.12.18 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 113,634 12,068 1,812 127,514 88,452 13,956 1,962 104,370 of which: Equity instruments 96,161 400 226 96,787 72,266 455 46 72,768 Government bills / bonds 9,630 1,770 64 11,464 9,554 1,607 0 11,161 Investment fund units 7,088 1,729 50 8,867 6,074 3,200 442 9,716 Corporate and municipal bonds 755 6,617 542 7,914 558 5,559 651 6,768 Loans 0 1,180 791 1,971 0 2,886 680 3,566 Asset-backed securities 0 372 140 512 0 248 144 392 Derivative financial instruments 356 120,222 1,264 121,841 753 124,033 1,424 126,210 of which: Foreign exchange contracts 240 52,227 8 52,474 311 53,148 30 53,489 Interest rate contracts 6 42,288 263 42,558 0 36,658 418 37,076 Equity / index contracts 7 22,220 597 22,825 3 30,905 496 31,404 Credit derivative contracts 0 1,612 394 2,007 0 1,444 476 1,920 Commodity contracts 0 1,820 0 1,821 0 1,768 2 1,769 Brokerage receivables 0 18,007 0 18,007 0 16,840 0 16,840 Financial assets at fair value not held for trading 40,608 39,373 3,963 83,944 40,204 38,073 4,413 82,690 of which: Financial assets for unit-linked investment contracts 2 27,568 118 0 27,686 21,440 5 0 21,446 Corporate and municipal bonds 653 18,732 0 19,385 781 16,455 0 17,236 Government bills / bonds 12,089 3,700 0 15,790 17,687 4,806 0 22,493 Loans 0 10,206 1,231 11,438 0 6,380 1,752 8,132 Securities financing transactions 0 6,148 147 6,294 0 9,899 39 9,937 Auction rate securities 0 0 1,536 1,536 0 0 1,664 1,664 Investment fund units 194 448 98 740 173 428 109 710 Equity instruments 103 4 452 559 123 62 517 702 Other 0 16 499 515 0 38 331 369 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 1,906 4,439 0 6,345 2,319 4,347 0 6,667 of which: Asset-backed securities 0 3,955 0 3,955 0 3,931 0 3,931 Government bills / bonds 1,859 16 0 1,875 2,171 69 0 2,239 Corporate and municipal bonds 47 468 0 515 149 348 0 497 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,597 0 0 4,597 4,298 0 0 4,298 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 3 0 0 199 199 0 82 0 82 Total assets measured at fair value 161,101 194,110 7,237 362,448 136,026 197,331 7,800 341,156 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.19 31.12.18 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 25,791 4,726 75 30,591 24,406 4,468 69 28,943 of which: Equity instruments 22,526 149 59 22,734 21,306 537 42 21,886 Corporate and municipal bonds 40 3,606 16 3,661 126 3,377 27 3,530 Government bills / bonds 2,820 646 0 3,466 2,423 416 0 2,839 Investment fund units 404 294 0 698 551 137 0 689 Derivative financial instruments 385 118,498 1,996 120,880 580 122,933 2,210 125,723 of which: Foreign exchange contracts 248 53,705 60 54,013 322 52,964 86 53,372 Interest rate contracts 7 36,434 130 36,571 7 32,511 226 32,743 Equity / index contracts 3 24,171 1,293 25,468 1 33,669 1,371 35,041 Credit derivative contracts 0 2,448 512 2,960 0 2,203 519 2,722 Commodity contracts 0 1,707 0 1,707 0 1,487 0 1,487 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 0 37,233 0 37,233 0 38,420 0 38,420 Debt issued designated at fair value 0 56,943 9,866 66,809 0 46,074 10,957 57,031 Other financial liabilities designated at fair value 0 35,119 822 35,940 0 32,569 1,025 33,594 of which: Financial liabilities related to unit-linked investment contracts 0 28,145 0 28,145 0 21,679 0 21,679 Securities financing transactions 0 5,742 0 5,742 0 9,461 0 9,461 Over-the-counter debt instruments 0 1,231 791 2,022 0 1,427 1,023 2,450 Total liabilities measured at fair value 26,176 252,518 12,759 291,452 24,986 244,465 14,260 283,711 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 Fair value hierarchy information for Financial assets for unit-linked investment contracts in the comparative period has been restated, resulting in an increase in Level 1 assets of USD 4,746 million as of 31 December 2018, with a corresponding decrease in Level 2 assets. 3 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 active market sources. This includes certain less liquid debt and equity instruments, certain exchange-traded d erivatives 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 valu ation 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 ass ets 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 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 genera ted 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 payoff f or 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 analyti cal 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 similar a ssets 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 level s based on similar products with observable price levels and knowledge of current market conditions and valuation approaches. For more complex instruments, fair values may be estimated using a combination of observed transaction prices, consensus pricing s ervices 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 services. UBS also uses internally developed m odels, 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 and funding spreads used in estimating disco unt 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 wi th prices that can be obtained directly from these markets, resulting in classification as Level 1, while the remaining positions are classified as Level 2 and Level 3. Corporate and municipal bonds Product description: corporate bonds include senior, juni or 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. Valuat ion: 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 disc ounted 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: cor porate 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 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 fix ed-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 comparabl e 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 us ing 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 based 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 as Le vel 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, generally 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 measured us ing net asset values ( NAVs ), 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 pos itions are classified as Level 2. Positions for which NAVs 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 ) include 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-bear ing 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 cash 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 v alue hierarchy: 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 : a uction rate securities (ARS) are debt or preferred equity securities that have interest rates that are reset through a periodic auction and, in the event of a failed auction, to a maximum rate as defined by each deal ’ s prospectus. ARS are generally structured as bonds with long-term maturities (20 – 30 years) or preferred shares (issued by 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, wher e available. Fair value hierarchy: suitably deep and liquid pricing information is generally not available for ARS . As a result, these securities are classified as Level 3. Equity instruments Product description: equity instruments include stocks and shar es, 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 NAVs , taking into account a ny 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 classification. Units held in hedge funds are classified as Level 2, except for positions for which publish ed NAVs 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-li nked 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 q uoted 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 (securities purchased under resale agreements and securities sold under repurchase agreements) that are managed on a fair value basis. Valuation: t hese instruments are valued using d iscounted 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: c ollateral funding curves for these instruments are gene rally observable and, as a result, these positions are classified as Level 2. Where the collateral terms are non- standar d, the funding curve may be considered unobservable and the se position s are classified as Level 3. Brokerage receivables and payables Pr oduct 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 underl ying 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 valuat ion 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 cont racts . Fair value hierarchy: observability is closely aligned with the equivalent derivatives business and the underl ying risk. Refer to Note s 19 and 22 for information about debt issued designated at fair value and other financial liabilities designated at fair value Refer to Note 2 4 d for more information about own credit adjustments related to financial liabilities des ignated 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: pr oduct 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 base d 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 th e 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 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 ma rket 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. Inter est 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 fro m 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 to price s tandard 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 valu ed 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 traded in active a nd 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 standard options and m ore 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. Exoti c 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- observabl e quotes. Credit derivative contracts Product description: a credit derivative is a financial instrument that transfers credit risk related to a single underlying entity, a portfolio of underlying entities or a pool of securitized referenced assets. Cred it derivative products include credit default swaps ( CDSs ) on single names, indices and securitized products, plus first to default swaps and certain total return swaps . Valuation: credit derivative contracts are valued using industry standard models based primarily on market credit spreads, upfront pricing points and implied recovery rates. Where a derivative credit spread is not directly available, it may be derived from the price of the reference cash bond. Asset-backed credit derivatives are valued usin g a valuation technique similar to that of the underlying security with an adjustment to reflect the funding differences between cash and synthetic form. Inputs include prepayment rates, default rates, loss severity, discount margin / rate. Fair value h ier archy classification: single- entity and portfolio credit derivative contracts are classified as Level 2 when credit spreads and recovery rates are determined from actively traded observable market data. Where the underlying reference name(s) are not active ly traded and the correlation cannot be directly mapped to actively traded tranche instruments, these contracts are classified as Level 3. Asset-backed credit derivatives follow the characteristics of the underlying security and are therefore distributed a cross Level 2 and Level 3. Foreign exchange contracts Product description: this includes open spot and forward foreign exchange (FX) contracts and OTC FX option contracts. OTC FX option contracts include standard call and put options, options with multipl e exercise dates, path-dependent options, options with averaging features, options with discontinuous payoff characteristics, options on a number of underlying FX rates and multi-dimensional FX option contracts, which have a dependency on multiple FX pairs . Valuation: open spot FX contracts are valued using the FX spot rate observed in the market. Forward FX contracts are valued using the FX spot rate adjusted for forward pricing points observed from standard market-based sources. OTC FX option contracts ar e valued using market standard option valuation models. The models used for shorter-dated options (i.e., maturities of five years or less) tend to be different than those used for longer-dated options because the models needed for longer-dated OTC FX contr acts require additional consideration of interest rate and FX rate interdependency. Input |
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 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 bet ween 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, UBS uses various valuation approaches and applies a hierarchy for prices and inputs th at 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 accordance with IFRS. The fair value h ierarchy is based on the transparency of inputs to the valuation of an asset or liability as of the measurement. In certain cases, the inputs used to measure fair value may fall within different levels of the fair value 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 asset s 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. Fair values are determined using quoted prices in active markets for identical assets or liabilities, where available. An active 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 qu oted 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 f unding 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 highest 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 in dividual 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 w ith 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 in strument 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 othe r 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 functio ns. 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 qual ity 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 independent of the business divisions. Independent price verificatio n 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 inpu t 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 independent 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 31.12.19 31.12.18 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 113,635 12,248 1,812 127,695 88,455 14,096 1,962 104,513 of which: Equity instruments 96,162 400 226 96,788 72,270 455 46 72,771 Government bills / bonds 9,630 1,770 64 11,464 9,554 1,607 0 11,161 Investment fund units 7,088 1,729 50 8,867 6,074 3,200 442 9,716 Corporate and municipal bonds 755 6,796 542 8,093 558 5,699 651 6,908 Loans 0 1,180 791 1,971 0 2,886 680 3,566 Asset-backed securities 0 372 140 512 0 248 144 392 Derivative financial instruments 356 120,224 1,264 121,843 753 124,035 1,424 126,212 of which: Foreign exchange contracts 240 52,228 8 52,476 311 53,151 30 53,492 Interest rate contracts 6 42,288 263 42,558 0 36,658 418 37,076 Equity / index contracts 7 22,220 597 22,825 3 30,905 496 31,404 Credit derivative contracts 0 1,612 394 2,007 0 1,444 476 1,920 Commodity contracts 0 1,820 0 1,821 0 1,768 2 1,769 Brokerage receivables 0 18,007 0 18,007 0 16,840 0 16,840 Financial assets at fair value not held for trading 40,608 39,065 3,962 83,636 40,204 37,770 4,413 82,387 of which: Financial assets for unit-linked investment contracts 2 27,568 118 0 27,686 21,440 5 0 21,446 Corporate and municipal bonds 653 18,732 0 19,385 781 16,455 0 17,236 Government bills / bonds 12,089 3,700 0 15,790 17,687 4,806 0 22,493 Loans 0 10,206 1,231 11,438 0 6,380 1,752 8,132 Securities financing transactions 0 6,148 147 6,294 0 9,899 39 9,937 Auction rate securities 0 0 1,536 1,536 0 0 1,664 1,664 Investment fund units 194 140 98 432 173 125 109 407 Equity instruments 103 4 451 559 123 62 517 702 Other 0 16 499 515 0 38 331 369 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 1,906 4,439 0 6,345 2,319 4,347 0 6,667 of which: Asset-backed securities 0 3,955 0 3,955 0 3,931 0 3,931 Government bills / bonds 1,859 16 0 1,875 2,171 69 0 2,239 Corporate and municipal bonds 47 468 0 515 149 348 0 497 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,597 0 0 4,597 4,298 0 0 4,298 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 3 0 0 199 199 0 82 0 82 Total assets measured at fair value 161,102 193,983 7,237 362,322 136,029 197,170 7,800 340,999 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.19 31.12.18 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 25,791 4,726 75 30,591 24,413 4,468 69 28,949 of which: Equity instruments 22,526 149 59 22,734 21,313 537 42 21,892 Corporate and municipal bonds 40 3,606 16 3,661 126 3,377 27 3,530 Government bills / bonds 2,820 646 0 3,466 2,423 416 0 2,839 Investment fund units 404 294 0 698 551 137 0 689 Derivative financial instruments 385 118,498 1,996 120,880 580 122,933 2,210 125,723 of which: Foreign exchange contracts 248 53,705 60 54,013 322 52,964 86 53,372 Interest rate contracts 7 36,434 130 36,571 7 32,511 226 32,743 Equity / index contracts 3 24,171 1,293 25,468 1 33,669 1,371 35,041 Credit derivative contracts 0 2,448 512 2,960 0 2,203 519 2,722 Commodity contracts 0 1,707 0 1,707 0 1,487 0 1,487 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 0 37,233 0 37,233 0 38,420 0 38,420 Debt issued designated at fair value 0 56,943 9,649 66,592 0 46,074 10,957 57,031 Other financial liabilities designated at fair value 0 35,119 1,039 36,157 0 32,569 1,025 33,594 of which: Financial liabilities related to unit-linked investment contracts 0 28,145 0 28,145 0 21,679 0 21,679 Securities financing transactions 0 5,742 0 5,742 0 9,461 0 9,461 Over-the-counter debt instruments 0 1,231 791 2,022 0 1,427 1,023 2,450 Total liabilities measured at fair value 26,176 252,518 12,759 291,452 24,992 244,465 14,260 283,717 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 Fair value hierarchy information for Financial assets for unit-linked investment contracts in the comparative period has been restated, resulting in an increase in Level 1 assets of USD 4,746 million as of 31 December 2018, with a corresponding decrease in Level 2 assets. 3 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 valu e positions for which a market price is not available from active 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 recognize d 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 techniques include discounted value of expected cash flows, relative value and o ption 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 discou nt 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 using such valuation techniques, expected future cash flows are estimated using an ob served 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 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 incorp orate assumptions regarding the behavior of future price movements of an underlying referenced asset or assets to generate a probability-weighted future expected payoff for the option. The resulting probability-weighted expected payoff is then discounted u sing discount factors generated from industry standard yield curve modeling techniques and models. The option pricing model may be implemented using a closed-form analytical formula or other mathematical techniques (e.g., binomial tree or Monte Carlo simul ation). 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 based on similar products with observable price levels and knowledge of current mark et conditions and valuation approaches. For more complex instruments, fair values may be estimated using a combination of 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 pricing services. UBS also uses internally developed models, which are typically based on valuation methods and techniques recognized as sta ndard within the industry. Assumptions and inputs used in valuation techniques include benchmark interest rate curves, credit 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 UBS incorporate the funding and credit characteristics of the instruments to which they are applied. Financial instruments excluding derivatives: pro duct 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 fo r 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 a re classified as Level 2 and Level 3. 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 instru ments 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 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 convertible 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 s ources. 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 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 comparable entities or different products in the same entity, or by using a credit default swap valuation technique, whi ch 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 agency guidelines. The valuation of the contingent lending transa ctions 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 homogeneous pools, and contingencies are derived from a range rela tive 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 valuation techniques, or for which the price sources have insuf ficient 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 redeemable units. Valuation: investment fund units are predominan tly 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 ( NAVs ), taking into account any restrictions imposed upon redemption. Fair value hierarch y: 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 NAVs 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 ) include 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-bear ing 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 cash 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 v alue hierarchy: 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 : a uction rate securities (ARS) are debt or preferred equity securities that have interest rates that are reset through a periodic auction and, in the event of a failed auction, to a maximum rate as defined by each deal ’ s prospectus. ARS are generally structured as bonds with long-term maturities (20 – 30 years) or preferred shares (issued by 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, wher e available. Fair value hierarchy: suitably deep and liquid pricing information is generally not available for ARS . As a result, these securities are classified as Level 3. Equity instruments Product description: equity instruments include stocks and shar es, 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 thei r 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 NAVs , taking into account any restr ictions 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 classification. Units held in hedge funds a re classified as Level 2, except for positions for which publish ed NAVs 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 inv estment 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 pr ices. 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 (securities purchased under resale agreements and securities sold under repurchase agreements) that are managed on a fair value basis. Valuation: t hese instruments are valued using d iscounted 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: c ollateral funding curves for these instruments are gene rally observable and, as a result, these positions are classified as Level 2. Where the collateral terms are non- standar d, the funding curve may be considered unobservable and the se position s are classified as Level 3. Brokerage receivables and payables Pr oduct 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 underl ying 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. For exa mple, equity-linked notes should be referenced to equity / index contracts and credit-linked notes should be referenced to credit derivative cont racts . 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 about debt issued designated at fair value and other financial liabilities designated at fair value Refer to Note 2 4 d for more information about own credit adjustments related to financial liabiliti es 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 referen ce 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 f or 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 ba sed 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 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 effect of counterparty credit risk, UB S’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 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 ma rket 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. Inter est 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 fro m 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 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 val ued 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 traded i n 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 standard opt ions 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 deri ved. 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. Credit derivative contracts Product description: a credit derivative is a financial instrument that transfers credit risk related to a single underlying entity, a portfolio of underlying entities or a pool of securitized referenced asse ts. Credit derivative products include credit default swaps ( CDSs ) on single names, indices and securitized products, plus first to default swaps and certain total return swaps . Valuation: credit derivative contracts are valued using industry standard mode ls based primarily on market credit spreads, upfront pricing points and implied recovery rates. Where a derivative credit spread is not directly available , it may be derived from the price of the reference cash bond. Asset-backed credit derivatives are val ued using a valuation technique similar to that of the underlying security with an adjustment to reflect the funding differences between cash and synthetic form. Inputs include prepayment rates, default rates, loss severity, discount margin / rate. Fair va lue h ierarchy classification: single- entity and portfolio credit derivative contracts are classified as Level 2 when credit spreads and recovery rates are determined from actively traded observable market data. Where the underlying reference name(s) are no t actively traded and the correlation cannot be directly mapped to actively traded tranche instruments, these contracts are classified as Level 3. Asset-backed credit derivatives follow the characteristics of the underlying security and are therefore distr ibuted across Level 2 and Level 3. Foreign exchange contracts Product description: this includes open spot and forward foreign exchange (FX) contracts and OTC FX option contracts. OTC FX option contracts include standard call and put options, options with multiple exercise dates, path-dependent options, options with averaging features, options with discontinuous payoff characteristics, options on a number of underlying FX rates and multi-dimensional FX option contracts, which have a dependency on multiple FX pairs. Valuation: open spot FX contracts are valued using the FX spot rate observed in the market. Forward FX contracts are valued using the FX spot rate adjusted for forward pricing points observed from standard market-based sources. OTC FX option cont racts are valued using market standard option valuation models. The models used for shorter-dated options (i.e., maturities of five years or less) tend to be different than those used for longer-dated options because the models needed for longer-dated OTC FX contracts require additional consideration of interest rate and FX rate interdependency. Inputs to the optio |
Offsetting financial assets and
Offsetting financial assets and financial liabilities | 12 Months Ended |
Dec. 31, 2019 | |
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 and /or in the event that the counterparties to the transaction are unable to fulfill their 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 t he 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 mitiga te 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 line, 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 , as well as other out-of-scope item s . Furthermore , related amounts for financial 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 cred it mitigation strategies in addition to netting 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 3 Assets not subject to netting arrangements 4 Total assets As of 31.12.19, USD billion Gross assets before netting Netting with gross liabilities 2 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 83.2 (14.0) 69.2 (1.2) (68.0) 0.0 15.0 15.0 84.2 Derivative financial instruments 120.2 (3.4) 116.8 (89.3) (21.4) 6.1 5.0 11.1 121.8 Cash collateral receivables on derivative instruments 1 26.4 (4.0) 22.4 (13.3) (1.1) 8.0 0.9 8.9 23.3 Financial assets at fair value not held for trading 83.1 (77.5) 5.6 0.0 (5.6) 0.0 78.3 78.3 83.9 of which: reverse repurchase agreements 83.0 (77.5) 5.4 0.0 (5.4) 0.0 0.9 0.9 6.3 Total assets 313.0 (98.9) 214.0 (103.8) (96.1) 14.1 99.3 113.4 313.3 As of 31.12.18, USD billion Receivables from securities financing transactions 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 1 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 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 1 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. 2 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. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. 4 Includes assets not subject to enforceable netting arrangements and other out-of-scope items. The ta ble 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 fin ancial 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 co unterparties that have been offset on the balance sheet and other financial liabilities not subject to an enforceable netting arrangement or similar agreement. Furthermore, 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 3 Liabilities not subject to netting arrangements 4 Total liabilities As of 31.12.19, USD billion Gross liabilities before netting Netting with gross assets 2 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 19.8 (14.0) 5.8 (0.8) (5.0) 0.0 2.0 2.0 7.8 Derivative financial instruments 118.1 (3.4) 114.8 (89.3) (16.8) 8.6 6.1 14.8 120.9 Cash collateral payables on derivative instruments 1 34.2 (4.0) 30.1 (16.5) (1.7) 12.0 1.3 13.3 31.4 Other financial liabilities designated at fair value 83.5 (77.6) 5.9 (0.4) (5.6) 0.0 30.0 30.0 35.9 of which: repurchase agreements 83.1 (77.6) 5.5 (0.4) (5.2) 0.0 0.2 0.2 5.7 Total liabilities 255.6 (98.9) 156.6 (107.0) (29.0) 20.6 39.4 60.0 196.0 As of 31.12.18, USD billion Payables from securities financing transactions 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 1 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 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 1 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. 2 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. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. 4 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 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 netting 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 counterparties to the transaction are unable to fulfill their contractual obligations. The right of setoff is a legal right to settle or otherwise eliminate all or a portion of an amount due by a pplying 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 fina ncial 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 with in the associated balance sheet line, 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 , as well as other out-of-scope items . Furthermore , related amounts for financial liabilities and collateral received that are not offset on the balance sheet are shown 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 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 3 Assets not subject to netting arrangements 4 Total assets As of 31.12.19, USD billion Gross assets before netting Netting with gross liabilities 2 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 83.2 (14.0) 69.2 (1.2) (68.0) 0.0 15.0 15.0 84.2 Derivative financial instruments 120.2 (3.4) 116.8 (89.3) (21.4) 6.1 5.0 11.1 121.8 Cash collateral receivables on derivative instruments 1 26.4 (4.0) 22.4 (13.3) (1.1) 8.0 0.9 8.9 23.3 Financial assets at fair value not held for trading 83.1 (77.5) 5.6 0.0 (5.6) 0.0 78.0 78.0 83.6 of which: reverse repurchase agreements 83.0 (77.5) 5.4 0.0 (5.4) 0.0 0.9 0.9 6.3 Total assets 313.0 (98.9) 214.0 (103.8) (96.1) 14.1 99.0 113.1 313.0 As of 31.12.18, USD billion Receivables from securities financing transactions 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 1 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 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 1 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. 2 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. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. 4 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 mit igate 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 bala nce 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. Furthermore, related amo unts 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 3 Liabilities not subject to netting arrangements 4 Total liabilities As of 31.12.19, USD billion Gross liabilities before netting Netting with gross assets 2 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 19.8 (14.0) 5.8 (0.8) (5.0) 0.0 2.0 2.0 7.8 Derivative financial instruments 118.1 (3.4) 114.8 (89.3) (16.8) 8.6 6.1 14.8 120.9 Cash collateral payables on derivative instruments 1 34.2 (4.0) 30.1 (16.5) (1.7) 12.0 1.3 13.3 31.4 Other financial liabilities designated at fair value 83.5 (77.6) 5.9 (0.4) (5.6) 0.0 30.2 30.2 36.2 of which: repurchase agreements 83.1 (77.6) 5.5 (0.4) (5.2) 0.0 0.2 0.2 5.7 Total liabilities 255.6 (98.9) 156.6 (107.0) (29.0) 20.6 39.6 60.2 196.2 As of 31.12.18, USD billion Payables from securities financing transactions 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 1 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 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 1 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. 2 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. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. 4 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, 2019 | |
Disclosure Restricted Financial Assets [Line Items] | |
Restricted Assets Disclosure Text Block | Note 26 Restricted and transferred financial assets This Note provides information about 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 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. 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. Pl edged mortgage loans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances of USD 11, 206 million as of 31 December 2019 ( 31 December 2018 : USD 12, 516 million). Other restricted financial assets inc lude assets protected 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 requir ements and assets held in consolidated bankruptcy remote entities, such as certain investment funds and other structured entities. The carrying amount of the liabilities associated with these other restricted financial assets is generally equal to the carr ying amount 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 31.12.19 31.12.18 Financial assets pledged as collateral Financial assets at fair value held for trading 56,415 43,292 of which: assets pledged as collateral that may be sold or repledged by counterparties 41,285 32,121 Loans and advances to customers 1 18,399 18,804 Financial assets at fair value not held for trading 188 0 Debt securities classified as Other financial assets measured at amortized cost 1,212 0 of which: assets pledged as collateral that may be sold or repledged by counterparties 1,212 0 Total financial assets pledged as collateral 2 76,215 62,096 Other restricted financial assets Loans and advances to banks 3,131 5,140 Financial assets at fair value held for trading 242 3,589 Cash collateral receivables on derivative instruments 2,986 3,205 Loans and advances to customers 620 935 Financial assets at fair value not held for trading 29,676 23,514 Financial assets measured at fair value through other comprehensive income 176 171 Other 379 203 Total other restricted financial assets 37,210 36,758 Total financial assets pledged and other restricted financial assets 113,425 98,854 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 6.3 billion for 31 December 2019 (31 December 2018: approximately USD 3.2 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 2019: USD 0.6 billion; 31 December 2018: USD 0.3 billion). In addition to restrictions on financial assets, UBS Group AG and its subsidiaries are, in cer tain cases, subject to regulatory requirements that affect the transfer of dividends and capital within the Group , as well as intercompany lending . 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 may limit the relevant subsidiaries’ ability to make distributions of capital based on the results of those tests. 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 transfer restrictions. However, restrictions can also be the result of different legal, regulatory, contractual, entity- or country-specific arrangements and / or requirements. Ref er to “Financial and regulatory key figures for our significant regulated subsidiaries and sub-groups” in the “Significant regulated subsidiary and sub-group information” section of this report for financial information about significant regulated subsidia ries 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 about 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 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. The UBS AG generally enters into repurchase and securities lending arrangements under standard market agreement s. For securities lending, the cash received as collatera l 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. P ledged mortgage loans serve as collateral for existing liabilities against Swiss central mortgage institutions and for existing covered bond issuances of USD 11, 206 million as of 31 December 2019 ( 31 December 2018 : USD 12, 516 million). Other restricted financial assets in clude assets protected under client asset segregation rules, assets held by the UBS AG’s insurance entities to back related liabilities to the policy holders, assets held in certain jurisdictions to comply with explicit minimum local asset maintenance requ irements and assets held in consolidated bankruptcy remote entities, such as certain investment funds and other structured entities. The carrying amount of the liabilities associated with these other restricted financial assets is generally equal to the ca rrying amount 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 31.12.19 31.12.18 Financial assets pledged as collateral Financial assets at fair value held for trading 56,548 43,292 of which: assets pledged as collateral that may be sold or repledged by counterparties 41,285 32,121 Loans and advances to customers 1 18,399 18,804 Financial assets at fair value not held for trading 188 0 Debt securities classified as Other financial assets measured at amortized cost 1,212 0 of which: assets pledged as collateral that may be sold or repledged by counterparties 1,212 0 Total financial assets pledged as collateral 2 76,347 62,096 Other restricted financial assets Loans and advances to banks 2,353 5,140 Financial assets at fair value held for trading 242 1,054 Cash collateral receivables on derivative instruments 2,986 3,205 Loans and advances to customers 620 935 Financial assets at fair value not held for trading 29,368 23,212 Financial assets measured at fair value through other comprehensive income 176 171 Other 382 203 Total other restricted financial assets 36,126 33,920 Total financial assets pledged and other restricted financial assets 112,474 96,016 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 6.3 billion for 31 December 2019 (31 December 2018: approximately USD 3.2 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 2019: USD 0.6 billion; 31 December 2018: USD 0.3 billion). In addition to restri ctions on financial assets, UBS AG and its subsidiaries are, in certain c ases, subject to regulatory requirements that affect the transfer of dividends and capital within UBS AG , as well as intercompany lending . 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 may limit the relevant subsidiaries’ ability to make distributions of capital based on the results of those tests. 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 transfer restrictions. However, restrictions can also be the result of different l egal, regulatory, contractual, 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 in formation” section of this report for financial information about significant regulated subsidiaries of UBS AG |
Transferred financial assets th
Transferred financial assets that are not derecognized in their entirety | 12 Months Ended |
Dec. 31, 2019 | |
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 assets that have been transferred but are subject to continued recognition in ful l, as well as recognized liabilities associated with those transferred assets. Transferred financial assets subject to continued recognition in full USD million 31.12.19 31.12.18 Carrying amount of transferred assets Carrying amount of associated liabilities recognized on balance sheet Carrying amount of transferred assets Carrying amount of associated liabilities recognized on balance sheet Financial assets at fair value held for trading that may be sold or repledged by counterparties 41,285 16,671 32,121 4,674 relating to securities lending and repurchase agreements in exchange for cash received 16,945 16,671 4,726 4,674 relating to securities lending agreements in exchange for securities received 24,082 0 26,234 0 relating to other financial asset transfers 258 0 1,161 0 Financial assets at fair value not held for trading that may be sold or repledged by counterparties 188 187 0 0 Total financial assets transferred 41,473 16,858 32,121 4,674 Transactions in which financial assets are transferred, but continue to be recognized in their entirety on UBS’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’s normal credit risk control processes. Refer to Note 1a item 3e for more information about repurchase and securities lending agreements As of 31 Decem ber 201 9, approximately 40% of the transferred financial assets were assets held for trading transferred in exchange for cash, in which case the associated recognized liability represents t he 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 results in associated liabilities having a carrying amount below the carrying amo unt 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 into in exchange for the receipt of other securities as collateral, neither t he 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 such financial assets received are subsequently sold or repledged in another tr ansaction, this is not considered to be a transfer of financial assets. Other financial asset transfers primarily include securities transferred to collateralize derivative transactions, for which the carrying amount of associated liabilities is not provid ed 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 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 the Group’s continuing involvement, were not material as of 31 December 201 9 and as of 31 December 201 8 . |
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 that 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 31.12.19 31.12.18 Carrying amount of transferred assets Carrying amount of associated liabilities recognized on balance sheet Carrying amount of transferred assets Carrying amount of associated liabilities recognized on balance sheet Financial assets at fair value held for trading that may be sold or repledged by counterparties 41,285 16,671 32,121 4,674 relating to securities lending and repurchase agreements in exchange for cash received 16,945 16,671 4,726 4,674 relating to securities lending agreements in exchange for securities received 24,082 0 26,234 0 relating to other financial asset transfers 258 0 1,161 0 Financial assets at fair value not held for trading that may be sold or repledged by counterparties 188 187 0 0 Total financial assets transferred 41,473 16,858 32,121 4,674 Transactions in which financial assets are transferred, but continue to be recognized in their entirety on UBS AG’s bal ance 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 counterpar ties subject to UBS AG’s normal credit risk control processes. Refer to Note 1a item 3e for more information about repurchase and securities lending agreements As of 31 Decem ber 201 9, approximately 40% 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 agreements, a haircut between 0% and 15% is generally applied to th e transferred assets, which results in associated liabilities having a carrying amount below the carrying amount of the transferred assets. The counterparties to the associated liabilities presented in the table above have full recourse to UBS AG. In secur ities 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. Other financial asset transfers primarily include securities trans ferred to collateralize derivative transactions, for which the carrying amount 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 there fore 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 b alance sheet to the extent of UBS AG ’s continuing involvement, were not material as of 31 December 201 9 and as of 31 December 201 8 . |
Transferred financial assets _2
Transferred financial assets that are derecognized in their entirety with continuing involvement | 12 Months Ended |
Dec. 31, 2019 | |
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 fin ancial 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 has transferred assets into a securitization vehicle and retained or purchased interests therein, UBS has a continuing involvement in those transferred assets. As of 31 December 201 9 , the majority of the retained continuing involvement rel ated 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’s continuing involvement related to these purchased and retained interests was USD 351 million as of 31 December 201 9 , a nd UBS recognized gains of USD 0 million in 201 9 related to these positions. As of 31 December 201 9 , life-to-date losses of USD 1 , 19 8 million were recorded related to the positions held as of 31 December 201 9 . As of 31 December 201 8 , the fair value and carrying amount of UBS’s continuing involvement related to purchased and retained interests in securitization vehicles was USD 6 million, and UBS recognized gains of USD 3 million in 201 8 related to these positions. As of 31 December 201 8 , life-to-date losses of USD 1,198 million were recorded related to the positions held as of 31 December 201 8 . The maximum exposure to loss relate d to purchased and retained interests in securitization structures was USD 8 million as of 31 December 201 9, compared with USD 1 0 million as of 31 December 201 8 . Undiscounted cash outflows of USD 3 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 counterpart y 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 vehicle and retained or purchased interests therein, UBS AG has a continuing involvement in those transferred assets. As of 31 December 201 9 , the majority of the retained continuing involvement related to securitization positions held as financial assets at fair value held for trading, primarily collateralized debt o bligations, 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 and retained interests was USD 351 million as of 31 December 2 01 9 , a nd UBS AG recognized gains of USD 0 million in 201 9 related to these positions. As of 31 December 201 9 , life-to-date losses of USD 1 , 198 million were recorded related to the positions held as of 31 December 201 9 . As of 31 December 201 8 , the fair value and carrying amount of UBS AG ’s continuing involvement related to purchased and retained interests in securitization vehicles was USD 6 million, and UBS AG recognized gains of USD 3 million in 201 8 related to these positions. As of 31 December 201 8 , life-to-date losses of USD 1,198 million were recorded related to the positions held as of 31 December 201 8 . The maximum exposure to loss related to purchased and retained interests in securitization structures was USD 8 million as of 31 December 201 9, com pared with USD 1 0 million as of 31 December 201 8 . Undiscounted cash outflows of USD 3 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 r equired is less than one month. |
Off-balance sheet assets receiv
Off-balance sheet assets received | 12 Months Ended |
Dec. 31, 2019 | |
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 fro m third parties that can be sold or repledged and 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 31.12.19 31.12.18 Fair value of assets received that can be sold or repledged 475,726 483,688 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions 1 466,045 473,302 received in unsecured borrowings 9,681 10,385 Thereof sold or repledged 2 350,477 356,745 in connection with financing activities 305,362 315,402 to satisfy commitments under short sale transactions 30,591 28,943 in connection with derivative and other transactions 1 14,524 12,400 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 2019: USD 19.6 billion; 31 December 2018: USD 24.5 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 and that are not recognized on the balance sheet, but that are hel d as collateral, including amounts that have been sold or repledged. Off-balance sheet assets received USD million 31.12.19 31.12.18 Fair value of assets received that can be sold or repledged 475,726 483,688 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions 1 466,045 473,302 received in unsecured borrowings 9,681 10,385 Thereof sold or repledged 2 351,327 356,752 in connection with financing activities 306,212 315,402 to satisfy commitments under short sale transactions 30,591 28,949 in connection with derivative and other transactions 1 14,524 12,400 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 2019: USD 19.6 billion; 31 December 2018: USD 24.5 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, 2019 | |
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 2019 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 2018. 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 31.12.19 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 5.4 0.3 0.4 0.5 0.0 6.6 Payables from securities financing transactions 7.4 0.1 0.3 0.0 7.8 Cash collateral payables on derivative instruments 31.4 31.4 Customer deposits 423.0 16.1 7.3 2.5 0.0 448.9 Debt issued measured at amortized cost 2 4.5 5.3 30.5 46.3 36.0 122.7 Other financial liabilities measured at amortized cost 4.5 0.1 0.5 2.0 2.0 9.0 of which: lease liabilities 0.1 0.1 0.5 2.0 2.0 4.6 Total financial liabilities measured at amortized cost 476.1 22.0 38.9 51.3 38.1 626.4 Financial liabilities at fair value held for trading 3,4 30.6 30.6 Derivative financial instruments 3 120.9 120.9 Brokerage payables designated at fair value 37.2 37.2 Debt issued designated at fair value 5 21.3 17.4 9.5 12.7 7.6 68.5 Other financial liabilities designated at fair value 34.0 0.4 0.5 0.4 0.9 36.1 Total financial liabilities measured at fair value through profit or loss 244.0 17.8 9.9 13.1 8.5 293.3 Total 720.1 39.9 48.8 64.5 46.6 919.8 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 33.1 0.5 0.3 0.0 33.9 Guarantees 7 19.1 19.1 Forward starting transactions Reverse repurchase agreements 7 21.9 0.0 21.9 Securities borrowing agreements 0.0 Total 74.1 0.5 0.3 0.0 0.0 74.9 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 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 amount 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 30 billion due within 1 month (2018: USD 28.3 billion), USD 0.6 billion due between 1 month and 1 year (2018: USD 0.6 billion) and USD 0 billion due between 1 and 5 years (2018: USD 0 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 6.3 billion (2018: USD 3.5 billion), guarantees measured at fair value of USD 1.0 billion (2018: USD 1.6 billion) and forward starting reverse repurchase agreements measured at fair value of USD 20.3 billion (2018: 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 2019 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 2018. 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 31.12.19 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 5.4 0.3 0.4 0.5 0.0 6.6 Payables from securities financing transactions 7.4 0.1 0.3 0.0 7.8 Cash collateral payables on derivative instruments 31.4 31.4 Customer deposits 423.9 16.5 7.3 3.5 0.0 451.2 Funding from UBS Group AG and its subsidiaries 2 0.0 0.2 2.3 29.0 24.6 56.2 Debt issued measured at amortized cost 2 4.3 4.7 27.8 20.7 9.0 66.5 Other financial liabilities measured at amortized cost 5.2 0.1 0.5 1.9 2.0 9.6 of which: lease liabilities 0.1 0.1 0.5 1.9 2.0 4.5 Total financial liabilities measured at amortized cost 477.6 22.0 38.5 55.6 35.6 629.3 Financial liabilities at fair value held for trading 3,4 30.6 30.6 Derivative financial instruments 3 120.9 120.9 Brokerage payables designated at fair value 37.2 37.2 Debt issued designated at fair value 5 21.3 17.4 9.5 12.7 7.1 68.0 Other financial liabilities designated at fair value 34.0 0.4 0.5 0.4 0.9 36.1 Total financial liabilities measured at fair value through profit or loss 244.0 17.8 9.9 13.1 8.0 292.9 Total 721.6 39.9 48.4 68.7 43.6 922.2 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 33.1 0.5 0.3 0.0 33.9 Guarantees 7 19.1 19.1 Forward starting transactions Reverse repurchase agreements 7 21.9 0.0 21.9 Securities borrowing agreements 0.0 Total 74.1 0.5 0.3 0.0 0.0 74.9 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 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 amount 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 30 billion due within 1 month (2018: USD 28.3 billion), USD 0.6 billion due between 1 month and 1 year (2018: USD 0.6 billion) and USD 0 billion due between 1 and 5 years (2018: USD 0 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 6.3 billion (2018: USD 3.5 billion), guarantees measured at fair value of USD 1.0 billion (2018: USD 1.6 billion) and forward starting reverse repurchase agreements measured at fair value of USD 20.3 billion (2018: USD 8.1 billion) are under the time bucket Due within 1 month. |
Hedge accounting
Hedge accounting | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 65,257 63,816 Carrying amount Derivative financial assets 33 27 Derivative financial liabilities 1 Hedged items: debt issued measured at amortized cost Carrying amount 67,379 63,785 of which: accumulated amount of fair value hedge adjustment 1,099 (298) Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1,427 (341) (16) Changes in fair value of hedged items (1,408) 329 (4) Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss 19 (11) (20) Profile of the timing of the nominal amount of the hedging instrument 31.12.19 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 3 9 40 14 65 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 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 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 4,493 10,318 Carrying amount Derivative financial assets 0 Derivative financial liabilities 14 31 Hedged items: loans and advances to customers Carrying amount 4,494 10,299 of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting 1 117 200 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 1 172 89 1 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 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1 (38) (22) (10) Changes in fair value of hedged items 1 32 16 3 Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss (6) (6) (7) 1 For the year ended 31 December 2017, 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. 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 the Group, which is hedged with interest rate swaps, the maximum maturity of which is 10 years. The group of forecast cash flows and interest rate swaps are desi gnated 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 determined based on the swap se nsitivity. 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 fungible and could be sub stituted 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 deter mined 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 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 ineffectiveness can arise from differences in the reference index of the hedging instruments and h edged items, or from inception of the hedge relationship after the trade date of the hedging derivative. Hedging instruments USD million 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 69,443 70,149 Carrying amount Derivative financial assets 16 24 Derivative financial liabilities 1 Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1 1,639 97 Changes in fair value of hedged items 1 (1,571) (73) Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income 1,571 (42) 45 Ineffectiveness recognized as Other net income from financial instruments measured at fair value through profit or loss 68 25 8 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 2019 2018 2017 Balance at the beginning of the year 109 360 955 Effective portion of changes in fair value of hedging instruments recognized in OCI 1,571 (42) 45 Amount reclassified to Net interest income when the hedged item affected profit / (loss), for the year ended 31 December (175) (294) (843) of which: reclassified to interest income on amortized-cost instruments 1 (175) (293) of which: reclassified to interest income on FVTPL instruments 1 0 (1) Translation effects recognized directly in retained earnings 9 18 39 Income tax related to cash flow hedges (253) 67 163 Balance at the end of the year 1,260 109 360 of which: related to hedging relationships for which hedge accounting continues to be applied 1,2 1,596 74 of which: related to hedging relationships for which hedge accounting is no longer applied 1,2 (43) 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 hedg e 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 ad justed 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. Consequent ly, 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 design ation. 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 movements at the level of individual foreign br anches 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 re corded 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 on ly the 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 currency of the foreign operation , where the currency basis may cause ineffectiveness. Hedging instruments USD million 31.12.19 31.12.18 Hedging instruments: derivative financial instruments Nominal amount 11,992 11,537 Carrying amount Derivative financial assets 9 56 Derivative financial liabilities 171 48 Hedging instruments: non-derivative foreign currency assets and liabilities Nominal amount 217 229 Carrying amount Receivables from securities financing transactions 109 115 Payables from securities financing transactions 109 115 Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 Changes in fair value of hedging instruments (142) 205 Changes in fair value of hedged items 134 (205) Effective portion of changes in fair value of hedging instruments recognized in Foreign currency translation OCI (134) 181 Ineffectiveness recognized as Other net income from financial instruments measured at fair value through profit or loss (8) 24 Foreign currency translation reserve USD million 31.12.19 31.12.18 31.12.17 Foreign currency translation reserve 4,028 3,924 4,466 of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries 1 643 777 of which: for which hedge accounting continues to be applied 1 386 521 of which: for which hedge accounting is no longer applied 1 257 255 Effective portion of changes in fair value of hedging instruments reclassified to Other income upon disposal of investment for the year ended 1 (14) 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) 2019 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 6 5 0 11 Cash outflows 6 5 0 11 Net cash flows 0 0 0 0 2018 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 9 2 11 Cash outflows 9 2 11 Net cash flows 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. Interest rate benchmark reform Cash flow hedges of forecast transactions referencing LIBOR USD million 31.12.19 Hedging instruments: interest rate swaps Nominal amount 16,462 Carrying amount Derivative financial assets 0 Derivative financial liabilities 0 |
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 AG 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 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, 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 equit y volatility exposure. UBS AG has also entered into credit default swaps th at provide 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 for he dge 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, covered 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 interest rate risk related to debt instr uments 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 it em. 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 c hange 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 fai r 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 interes t rate swaps. Hedging instruments and hedged items USD million 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 65,257 63,816 Carrying amount Derivative financial assets 33 27 Derivative financial liabilities 1 Hedged items: debt issued measured at amortized cost Carrying amount 26,120 28,139 of which: accumulated amount of fair value hedge adjustment 574 282 Hedged items: funding from UBS Group AG and its subsidiaries Carrying amount 41,258 35,647 of which: accumulated amount of fair value hedge adjustment 525 (580) Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1,427 (341) (16) Changes in fair value of hedged items (1,408) 329 (4) Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss 19 (11) (20) Profile of the timing of the nominal amount of the hedging instrument 31.12.19 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 3 9 40 14 65 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 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 attr ibutable 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 mortgage 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. , m ortgage loans. 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 . Cha nges in the 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 -m onth LIBOR ) . 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 attri butable 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 different curves used for the discounting o f the hedging instruments and the hedged items, or f rom mismatches of critical terms between fixed - term lending products and hedging interest rate swaps . Hedging instruments and hedged items USD million 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 4,493 10,318 Carrying amount Derivative financial assets 0 Derivative financial liabilities 14 31 Hedged items: loans and advances to customers Carrying amount 4,494 10,299 of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting 1 117 200 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 1 172 89 1 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 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1 (38) (22) (10) Changes in fair value of hedged items 1 32 16 3 Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss (6) (6) (7) 1 For the year ended 31 December 2017, 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 maturity of which is 10 years. UBS AG 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 swaps 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 risk. 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 three -month LIBOR. H edge effectiveness is assessed by comparing changes in the fair va lue 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 hedging instruments and hedged items, or from inception of the hedge relationship after the trade date of the hedging derivative. Hedging instruments USD million 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 69,443 70,149 Carrying amount Derivative financial assets 16 24 Derivative financial liabilities 1 Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1 1,639 97 Changes in fair value of hedged items 1 (1,571) (73) Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income 1,571 (42) 45 Ineffectiveness recognized as Other net income from financial instruments measured at fair value through profit or loss 68 25 8 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 2019 2018 2017 Balance at the beginning of the year 109 360 955 Effective portion of changes in fair value of hedging instruments recognized in OCI 1,571 (42) 45 Amount reclassified to Net interest income when the hedged item affected profit / (loss), for the year ended 31 December (175) (294) (843) of which: reclassified to interest income on amortized-cost instruments 1 (175) (293) of which: reclassified to interest income on FVTPL instruments 1 0 (1) Translation effects recognized directly in retained earnings 9 18 39 Income tax related to cash flow hedges (253) 67 163 Balance at the end of the year 1,260 109 360 of which: related to hedging relationships for which hedge accounting continues to be applied 1,2 1,596 74 of which: related to hedging relationships for which hedge accounting is no longer applied 1,2 (43) 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 AG’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. Consequ ently, 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 hedge accounting design ation. 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 movements at the level of individual foreign br anches and subsidiaries, which make up the total FCT OCI of UBS AG. When UBS AG designates as hedging instruments certain non-derivative foreign currency financial assets and liabilities of foreign branches or subsidiaries, the FX translation difference re corded 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 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 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 currency of the foreign operation , where the currency basis may cause ineffectiveness. Hedging instruments USD million 31.12.19 31.12.18 Hedging instruments: derivative financial instruments Nominal amount 11,875 11,432 Carrying amount Derivative financial assets 9 56 Derivative financial liabilities 170 45 Hedging instruments: non-derivative foreign currency assets and liabilities Nominal amount 217 229 Carrying amount Receivables from securities financing transactions 109 115 Payables from securities financing transactions 109 115 Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 Changes in fair value of hedging instruments (153) 199 Changes in fair value of hedged items 144 (199) Effective portion of changes in fair value of hedging instruments recognized in Foreign currency translation OCI (144) 181 Ineffectiveness recognized as Other net income from financial instruments measured at fair value through profit or loss (8) 18 Foreign currency translation reserve USD million 31.12.19 31.12.18 31.12.17 Foreign currency translation reserve 4,032 3,940 4,455 of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries 1 634 770 of which: for which hedge accounting continues to be applied 1 377 515 of which: for which hedge accounting is no longer applied 1 257 255 Effective portion of changes in fair value of hedging instruments reclassified to Other income upon disposal of investment for the year ended 1 (14) 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) 2019 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 6 5 0 11 Cash outflows 6 5 0 11 Net cash flows 0 0 0 0 2018 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 9 2 11 Cash outflows 9 2 11 Net cash flows 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps were not material as the majority of interest rate swaps designated in hedge accounting relationships are legally settled on a daily basis. Interest rate benchmark reform As of 1 October 2019 , UBS AG early adopted the amendments to IA S 39 and IFRS 7 related to interest rate benchmark r eform published by the IASB in September 2019. The significant interest rate benchmarks to which UBS AG’ s hedgi ng relationships are exposed are stated in the “ Interest rate risk he dge accounting” section of this Note. UBS AG established a cross-divisional, cross-regional governance structure and change program to address the scale and complexity of the transition t o a lt ernative reference rates (ARRs). As all f air value hedges are directly affected by the interest rate benchmark reform, the relief is applied to all of the disclosed f air value hedges in this Note. Hedges of net investments in foreign operations are n ot affected by the amendments. UBS AG also applies the amendments to those cash flow hedge relationships w here the hedged risk is LIBOR. The following table provides details on the nominal amount and carrying amount of the hedging instruments in those hedging relationships. Cash flow hedges of forecast transactions referencing LIBOR USD million 31.12.19 Hedging instruments: interest rate swaps Nominal amount 16,462 Carrying amount Derivative financial assets 0 Derivative financial liabilities 0 |
Pension and other post-employme
Pension and other post-employment benefit plans | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 31.12.17 Net periodic expenses for defined benefit plans 461 188 481 of which: related to major pension plans 1 440 186 460 of which: Swiss plan 2 417 153 414 of which: UK plan 3 11 15 of which: US and German plans 21 22 31 of which: related to post-employment medical insurance plans 3 2 (11) 3 of which: related to remaining plans and other expenses 4 18 13 17 Expenses for defined contribution plans 5 326 268 243 of which: UK plans 82 80 72 of which: US plan 173 127 110 of which: remaining plans 71 61 61 Total pension and other post-employment benefit plan expenses 6 787 457 723 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 for defined benefit plans. Other comprehensive income – gains / (losses) on defined benefit plans USD million 31.12.19 31.12.18 31.12.17 Major pension plans 1 (135) (230) 253 of which: Swiss plan (22) (352) (79) of which: UK plan (78) 130 304 of which: US and German plans (35) (8) 28 Post-employment medical insurance plans 2 (3) 7 1 Remaining plans (8) 3 31 Gains / (losses) recognized in other comprehensive income, before tax (146) (220) 286 Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income (41) 276 11 Gains / (losses) recognized in other comprehensive income, net of tax 3 (186) 56 296 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 re cognizes assets and liabilities with respect to defined benefit plans within Other non-financial assets and Other non-financial liabilities . As of 31 December 201 9 and 31 December 201 8 , 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 future economic benefit was zero as of 31 December 201 9 and 31 December 201 8 , no net defined benef it pension asset was recognized on the balance sheet. The table below provides a breakdown of the assets and liabilities recognized on the balance sheet within O ther non-financial assets and Other non-financial liabilities r elated to defined benefit plans. Balance sheet – net defined benefit pension and post-employment asset USD million 31.12.19 31.12.18 Major pension plans 1 9 0 of which: Swiss plan 0 0 of which: UK plan 4 0 of which: US and German plans 5 0 Total net defined benefit pension and post-employment asset 2 9 0 1 Refer to Note 29a for more information. 2 Refer to Note 17. Balance sheet – net defined benefit pension and post-employment liability USD million 31.12.19 31.12.18 Major pension plans 1 527 671 of which: Swiss plan 0 0 of which: UK plan 0 160 of which: US and German plans 2 527 511 Post-employment medical insurance plans 3 62 62 Remaining plans 44 42 Total net defined benefit pension and post-employment liability 4 633 775 1 Refer to Note 29a for more information. 2 Of the total liability recognized as of 31 December 2019, USD 111 million related to US plans and USD 416 million related to German plans (31 December 2018: USD 137 million and USD 374 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 in accordance with local regulations and practices . T he major plans are loca ted in Switzerland, the UK, the US and Germany. The plan s ’ benefits include retirement, disability and survivor benefits. The level of benefits provided depends on the specific plan rules and the level of employee compensation . The overall investment polic y and strategy for UBS’s defined benefit pension plans is guided by the objective of achieving an investment return that, together with contributions, is intended to ensure that there will be sufficient assets to pay pension benefits as they fall due , while also mitigat ing 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 expec ted economic and market conditions and in consideration of specific 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 li abilities 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’s defined benefit pension plans are directly affected by changes i n 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 achieve a balance of risk and return. Under IFRS, volatility arises in each pension plan’s net asset / liability position be cause 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 body. For certain pension plans, a liability-driven investment approach is applied to a portion of the plan assets to reduce pote ntial volatility. UBS ’ s general principle is to ensure that the plans are adequately funded on the basis of actuarial valuations. Local pension regulations are the primary drivers for determining when contributions are required. 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 plan are paid by both the emplo ye 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 percentages deducted from salar y depend on age and choice of contribution category and v ary between 2.5 % 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 contribution that ran ges between 6 .5% and 27.5% of contributory base salary and between 2 . 8 % and 9% of contributory variable compensation. UBS also pays risk contributions that are used to finance benefits paid out in the event of death and disability . The plan benefits include retirement, disability and survivor benefits. The pension plan offers to members at the normal retirement age of 6 5 a choice between a lifetime pension with or without full restitution and a partial or full lump sum payment. Participants can choose to continue employment and correspondingly remain active members in the pension plan until the age of 70 at the latest or draw early retirement benefits starting from the age of 58. E mployees have the opportunity to make additional purchases of benefits to fund early retire ment 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 particip ant’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 each individual plan participant, as well as th e 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 defin ed 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 a re 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 measures such 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 b asis, 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 the additional contributions required . As of 31 December 201 9 , the Swiss pension plan had a technical funding ratio under Swiss pension law of 127.1% (31 December 201 8 : 1 24.2 %). 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 201 9 , 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 3,724 million (31 December 201 8 : surplus of USD 3,2 74 million). However, a surplus is only recognized on the balance sheet to the extent that it does not exceed the estimated future economic benefi t, which equals the difference between the present value of the estimated future 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 discount rate . As of both 31 December 201 9 and 31 December 201 8 , the estimated future economic benefit was zero and hence no net defined benefit asset was recognized on the balance sheet. As of 31 December 201 9 , the difference between the pension plan surplus and the e stimated future economic benefit, i.e., the asset ceiling effect, was USD 3,72 4 million (31 December 201 8 : USD 3,2 74 million). In the fourth quarter of 2019, UBS established an enhanced methodology for measuring the estimated future economic benefits avail able under the Swiss pension plan, which limits the amount of any surplus recognized in accordance with IFRS, i.e., the asset ceiling calculation. Under the revised approach, which will come into effect in the first quarter of 2020, future service cost is measured individually for each future year, considering the individually applicable discount rate. In addition, an enhanced discount curve methodology will be adopted, utilizing the FINMA-published ultimate forward rate, which represents the average long-t erm historical real rate plus expected inflation over the long-dated periods where discount rates are unobservable. Application of this approach is expected to reduce the sensitivity in the quarterly asset ceiling calculation to short - term interest rates, resulting in lower variability in the calculation and accordingly the resulting recognition / derecognition of the Swiss pension plan surplus in Other comprehensive income . No changes have been made to the methodology for measuring the defined benefit obli gation. Changes to the Swiss pension plan As a result of the effects of continuing low and in some cases negative interest rates, diminished investment return expectations and i ncreasing life expectancy, the pension f und of UBS in Switzerland and UBS a greed 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 from 64 to 65, employee contribut ions were increased from a range of 1 % and 13.5% of the contributory base salary to a range of 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 payme nt 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 7 46 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 2018 . In addition, 2018 service costs were lower by USD 59 million due to the decrease in benefits. These effects were recognized as a reduction in Personnel expenses within the income statement across 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 restriction. If the Swiss pension plan remains in an asset ceiling position , the three payments in 2020, 2021 and 2022, adjusted for expected forfeitures, are expected to reduce total equity by USD 641 milli on, with no effect on the income statement. The first installment and t he regular employer contributions expected to be made to the Swiss pension plan in 20 20 are estimated to be USD 234 million and USD 466 million , respectively . UK pension plan The UK plan is a career-average revalued earnings scheme, and benefits increase automatically based on UK price inflation. The n ormal retirement age for participa nts 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. The employer contributions to the pension fund reflect agreed-upon deficit funding contributions, which are dete rmined 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 recovery plan within statutory deadlines. In 2 019 , UBS made deficit funding contributions of USD 242 million to the UK plan . In 201 8 , 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 pri ce 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 i ncrease 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 201 9 , the UK plan was in a surplus situation on an IFRS measurement basis as the fair value of plan asset s exceeded the DBO by USD 4 million (31 December 201 8 : deficit of USD 160 million). Total contributions expect ed to be made to the UK defined benefit pension plan in 2020 are estimated at USD 13 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 was established to provide security for the pension fund . The value of the collateral pool as of 31 December 2019 was USD 364 million and includes corporate bonds and government-related debt instruments. The Pension Trustee Board and UBS may agree adjustments to the collateral pool 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 . 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 clos ed 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 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 9 , the contributions made by UBS were USD 2 9 million (201 8 : USD 42 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 be employed to manag e volatility. The employer contributions expected to be made to the US defined benefit pension plans in 20 20 are estimated at USD 9 million . German pension plans There are two different defined benefit pension plans in Germany, and both are contribution-ba sed 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 salar y 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 related to variable compensation . For 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 regulated under German pension law, unde r which the responsibility to pay pension benefits when they are due rests entirely with UBS. For these plans, a portion of the pension payments is directly increased in line with price inflation. The benefits ex pected to be paid by UBS to the participants of the German plans in 20 20 are estimated at USD 10 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 bal ance 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 2019 2018 2019 2018 2019 2018 2019 2018 Defined benefit obligation at the beginning of the year 22,566 23,419 3,192 3,744 1,679 1,816 27,437 28,978 Current service cost 409 405 0 0 6 7 415 413 Interest expense 200 151 92 93 59 55 351 299 Plan participant contributions 240 218 0 0 0 0 240 218 Remeasurements 1,728 (242) 361 (266) 185 (69) 2,275 (577) of which: actuarial (gains) / losses due to changes in demographic assumptions (196) 0 (26) (18) 3 (5) (220) (23) of which: actuarial (gains) / losses due to changes in financial assumptions 1,641 (639) 421 (257) 179 (69) 2,241 (964) of which: experience (gains) / losses 1 284 397 (34) 8 4 5 254 410 Past service cost related to plan amendments 0 (241) 0 4 0 0 0 (237) Curtailments 0 (20) 0 0 0 0 0 (20) Benefit payments (1,046) (954) (135) (202) (102) (112) (1,283) (1,268) Foreign currency translation 399 (170) 144 (181) (8) (18) 535 (369) Defined benefit obligation at the end of the year 24,496 22,566 3,654 3,192 1,820 1,679 29,970 27,437 of which: amounts owed to active members 11,577 10,452 164 146 235 226 11,976 10,823 of which: amounts owed to deferred members 0 0 1,559 1,434 675 606 2,233 2,040 of which: amounts owed to retirees 12,918 12,114 1,931 1,612 911 847 15,760 14,574 Fair value of plan assets at the beginning of the year 25,839 26,656 3,032 3,469 1,168 1,265 30,039 31,390 Return on plan assets excluding amounts included in interest income 2,059 (523) 284 (136) 150 (77) 2,492 (736) Interest income 233 177 89 86 47 44 369 306 Employer contributions 452 505 242 0 38 51 732 556 Plan participant contributions 240 218 0 0 0 0 240 218 Benefit payments (1,046) (954) (135) (202) (102) (112) (1,283) (1,268) Administration expenses, taxes and premiums paid (11) (11) 0 0 (2) (3) (13) (14) Foreign currency translation 453 (228) 146 (185) 0 0 599 (412) Fair value of plan assets at the end of the year 28,219 25,839 3,658 3,032 1,299 1,168 33,176 30,039 Asset ceiling effect at the beginning of the year 3,274 3,237 0 0 0 0 3,274 3,237 Interest expense on asset ceiling effect 30 23 0 0 0 0 30 23 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect 353 71 0 0 0 0 353 71 Foreign currency translation 67 (58) 0 0 0 0 67 (58) Asset ceiling effect at the end of the year 3,724 3,274 0 0 0 0 3,724 3,274 Net defined benefit asset / (liability) 0 0 4 (160) (521) (511) (518) (671) 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 (160) (275) (511) (550) (671) (825) Net periodic expenses recognized in net profit (417) (153) (3) (11) (21) (22) (440) (186) Gains / (losses) recognized in other comprehensive income (22) (352) (78) 130 (35) (8) (135) (230) Employer contributions 452 505 242 0 38 51 732 556 Foreign currency translation (13) 0 2 (4) 8 18 (3) 14 Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 4 (160) (521) (511) (518) (671) Funded and unfunded plans Defined benefit obligation from funded plans 24,496 22,566 3,654 3,192 1,319 1,219 29,469 26,976 Defined benefit obligation from unfunded plans 0 0 0 0 501 460 501 460 Plan assets 28,219 25,839 3,658 3,032 1,299 1,168 33,176 30,039 Surplus / (deficit) 3,724 3,274 4 (160) (521) (511) 3,206 2,603 Asset ceiling effect 3,724 3,274 0 0 0 0 3,724 3,274 Net defined benefit asset / (liability) 0 0 4 (160) (521) (511) (518) (671) 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 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Current service cost 409 405 0 0 6 7 415 413 Interest expense related to defined benefit obligation 200 151 92 93 59 55 351 299 Interest income related to plan assets (233) (177) (89) (86) (47) (44) (369) (306) Interest expense on asset ceiling effect 30 23 0 0 0 0 30 23 Administration expenses, taxes and premiums paid 11 11 0 0 2 3 13 14 Past service cost related to plan amendments 0 (241) 0 4 0 0 0 (237) Curtailments 0 (20) 0 0 0 0 0 (20) Net periodic expenses recognized in net profit 417 153 3 11 21 22 440 186 Analysis of amounts recognized in other comprehensive income (OCI) USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Remeasurement of defined benefit obligation (1,728) 242 (361) 266 (185) 69 (2,275) 577 Return on plan assets excluding amounts included in interest income 2,059 (523) 284 (136) 150 (77) 2,492 (736) Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect (353) (71) 0 0 0 0 (353) (71) Total gains / (losses) recognized in other comprehensive income, before tax (22) (352) (78) 130 (35) (8) (135) (230) The table below provides information about the duration of the DBO and the timing for expected benefit payments. Swiss plan UK plan US and German plans 1 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Duration of the defined benefit obligation (in years) 14.9 14.5 20.2 19.5 10.1 9.8 Maturity analysis of benefits expected to be paid USD million Benefits expected to be paid within 12 months 1,232 1,153 93 82 121 108 Benefits expected to be paid between 1 and 3 years 2,483 2,356 209 187 228 216 Benefits expected to be paid between 3 and 6 years 3,670 3,554 384 345 346 336 Benefits expected to be paid between 6 and 11 years 5,761 5,643 748 701 548 566 Benefits expected to be paid between 11 and 16 years 5,070 5,142 807 770 455 494 Benefits expected to be paid in more than 16 years 15,517 16,792 3,913 3,927 721 798 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 y ield 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 serv ice, 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 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 pensio ns. 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’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 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 calculatin g its DBO to determine their continuing relevance. Swiss pension plan In 2019, a loss of USD 1,728 million was recognized in Other comprehensive income (OCI) related to the remeasurement of the DBO. This was primarily due to a market-driven de crease in th e discount rate, which resulted in an OCI loss of USD 1,887 million and an experience loss of USD 284 million, reflecting the effects of differences between the previous actuarial assumptions and what actually occurred . These losses were partly offset by gains of USD 243 million resulting from a decrease in the expected rate of interest credit on retirement savings , USD 103 million due to an update in the disability assumption and USD 94 million due to an update in the turnover assumption. In 2018, a net gain of USD 242 million was recognized in 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. This effect was partially offs et 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, which resulted in a loss of US D 124 million. Changes in other assumptions were not significant. UK pension plan In 2019, a loss of USD 361 million was recognized in OCI related to the remeasurem ent of the DBO for the UK plan. This was primarily due to a market-driven de crease in the d iscount rate, which resulted in an OCI loss of USD 552 million . This loss was partially offset by a gain of USD 132 million due to a decrease in the expected rate of pension increase , experience gains of USD 34 million which reflect differences between the previous actuarial assumptions and what actually occurred , and a gain of USD 2 1 million due to an update of the mo rtality improvement assumption. 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 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 resulted in an OCI gain of USD 37 million. US and German pensio n plans In 201 9 , a |
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 31.12.19 31.12.18 31.12.17 Net periodic expenses for defined benefit plans 291 140 365 of which: related to major pension plans 1 271 141 354 of which: Swiss plan 2 248 108 307 of which: UK plan 3 11 15 of which: US and German plans 21 22 31 of which: related to post-employment medical insurance plans 3 2 (11) 3 of which: related to remaining plans and other expenses 4 17 10 8 Expenses for defined contribution plans 5 278 223 236 of which: UK plans 34 35 65 of which: US plan 173 127 110 of which: remaining plans 71 61 61 Total pension and other post-employment benefit plan expenses 6 569 363 601 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 for defined benefit plans. Other comprehensive income – gains / (losses) on defined benefit plans USD million 31.12.19 31.12.18 31.12.17 Major pension plans 1 (128) (79) 276 of which: Swiss plan (15) (201) (56) of which: UK plan (78) 130 304 of which: US and German plans (35) (8) 28 Post-employment medical insurance plans 2 (3) 7 1 Remaining plans 1 3 31 Gains / (losses) recognized in other comprehensive income, before tax (129) (70) 308 Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income (41) 245 6 Gains / (losses) recognized in other comprehensive income, net of tax 3 (170) 175 314 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 201 9 and 31 December 201 8 , 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 future economic benefit was zero as of 31 Decem ber 201 9 and 31 December 201 8 , no net defined benefit pension asset was recognized on the balance sheet. The table below provide s a breakdown of the assets and liabilities recognized on the balance sheet within Other non-fin ancial assets and Other no n-financial liabilities related to defined benefit plans. Balance sheet – net defined benefit pension and post-employment asset USD million 31.12.19 31.12.18 Major pension plans 1 9 0 of which: Swiss plan 0 0 of which: UK plan 4 0 of which: US and German plans 5 0 Total net defined benefit pension and post-employment asset 2 9 0 1 Refer to Note 29a for more information. 2 Refer to Note 17. Balance sheet – net defined benefit pension and post-employment liability USD million 31.12.19 31.12.18 Major pension plans 1 527 671 of which: Swiss plan 0 0 of which: UK plan 0 160 of which: US and German plans 2 527 511 Post-employment medical insurance plans 3 62 62 Remaining plans 40 40 Total net defined benefit pension and post-employment liability 4 629 773 1 Refer to Note 29a for more information. 2 Of the total liability recognized as of 31 December 2019, USD 111 million related to US plans and USD 416 million related to German plans (31 December 2018: USD 137 million and USD 374 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 in accordance with local regulations and practices . T he major plans are located in Switzerland, the UK, the US and Germany. The plans ’ benefits include retirement, disability and survivor benefits. The level of benefits provided depends on the specific plan rules and the level of employee compensation . 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, is intended to ensu re 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 plans, the investment strategies are managed under local laws and regulations in each jurisdicti on. 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 fi duciaries consider how the asset investment strategy correlates with the maturity 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 ben efit 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 achieve a balanc e of risk and return. Under IFRS, volatility arises in each pension plan’s net 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 ma tching 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 pen sion plans, a liability-driven investment approach is applied to a portion of the plan assets to reduce potential volatility. UBS AG ’ s general principle is to ensure that the plans are adequately funded on the basis of actuarial valuations. Local pension regulations are the primary drivers for determining when contributions are required. 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 those 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 accounting, i.e., the net pension cost, any OCI impacts from remeas urements 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 defined benefit obligations related to their employees. Contribu tions 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 calculated as a percentage of the contributory salary and are d educted month l y. The percentages deducted from salary depend on age and choice of contribution category and v ary between 2.5 % and 13.5% of contributory base sala ry and between 0% and 9% of contributory variable compensation. Depending on the age of the emp loyee, UBS AG pays a contribution that ran ges between 6.5% and 27.5% of contributory base salar y and between 2.8 % and 9% of contributory variable compensation. U BS AG also pays risk contributions that are used to finance benefits paid out in the event of d eath and disability . The plan benefits include retirement, disability and survivor benefits. The pension plan offers to members at the normal retirement age of 6 5 a choice between a lifetime pension with or without full restitution and a partial or full lu mp sum payment. Participants can choose to continue employment and correspondingly remain active members in the pension plan until the age of 70 at the latest or 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 transferred from previous employers, purchases of benefits, and the employee and employer contributions that have been made to the pens ion account of each 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 p romise 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 measures such 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 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 the additional contributions required . As of 31 December 201 9 , the Swiss pension plan had a technical funding ratio under Swiss pension law of 12 7 . 1 % (31 December 201 8 : 1 24 . 2 %). 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 regulation s 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 define d 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 f unds 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 201 9 , the Swiss pension p lan was in a surplus situation on an IFRS measurement basis, as the fair value of plan assets exceeded the DBO by USD 2,099 million (31 December 201 8 : surplus of USD 1,99 8 million). However, a surplus is only recognized on the balance sheet to the extent t hat it does not exceed the estimated future economic benefit, which equals the difference between the present value of the estimated future 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 201 9 and 31 December 201 8 , the estimated future economic benefit was zero and hence no net defined benefit asset was recognized on the balance sheet. As of 31 December 201 9 , the difference between the pension plan surplus and the estimated future economic benefit, i.e., the asset ceiling effect, was USD 2,099 million (31 December 201 8 : USD 1,99 8 million). In the fourth quarter of 2019, UBS AG established an enhanced methodol ogy for measuring the estimated future economic benefits available under the Swiss pension plan, which limits the amount of any surplus recognized in accordance with IFRS, i.e., the asset ceiling calculation. Under the revised approach, which will come int o effect in the first quarter of 2020, future service cost is measured individually for each future year, considering the individually applicable discount rate. In addition, an enhanced discount curve methodology will be adopted, utilizing the FINMA-publis hed ultimate forward rate, which represents the average long-term historical real rate plus expected inflation over the long-dated periods where discount rates are unobservable. Application of this approach is expected to reduce the sensitivity in the quar terly asset ceiling calculation to short-term interest rates , resulting in lower variability in the calculation and accordingly the resulting recognition / derecognition of the Swiss pension plan surplus in Other comprehensive income . No changes have been made to the methodology for measuring the defined benefit obligation . Changes to the Swiss pension plan As a result of the effects of continuing low and in some cases negative interest rates, diminished investment return expectation s 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 from 64 to 65, employee contributions were increased from a range of 1 % and 13.5% of the contributory base salary to a range of 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 4 5 5 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 across 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 plan remains in an asset cei ling position, the three payments in 2020 , 2021 and 2022, adjusted for expected forfeitures , are expected to reduce total equity by USD 391 million , with no effect on the income statement. The first installment and the regular employer contributions expected to be made to the Swiss pension plan in 20 20 are estimated to be USD 143 million and USD 2 78 million, respectively . UK pension plan The UK plan is a career-average revalued earnings scheme, and benefits increase automatically based on UK price in flation. 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 pa rticipate 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 underfunding, UBS AG and the Pension Trustee Board must agree on a deficit recovery plan within statutory deadlines. In 2019, UBS AG made deficit funding contributions of USD 242 million to the UK plan . In 2018, 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 inv ested 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 define d 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, increa ses 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 201 9 , the UK plan was i n a surplus situation on an IFRS measurement basis as the fair value of plan assets exceeded the DBO by USD 4 million (31 December 2018: deficit of USD 160 million) . Total contributions expected to be made to the UK defined benefit pension plan in 2020 are estimated at USD 13 million, subject to regular funding reviews during the year. In addition, UBS AG and the Pension Trustee Board have entered into an arrangement whereby a collateral pool was established to provide security for the pension fund. The value of the collateral pool as of 31 December 2019 was USD 364 million and includes corporate bonds and government-related debt instruments. The Pension Trustee Board and UBS AG may agree adjustments to the collateral pool in the future. The arrangement provides the Pension Trustee Board dedicated access to a pool of assets in the event of UBS AG’s insolvency or not paying a required deficit funding contribution. 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 whi ch 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 re quired 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 9 , the contributions made by UBS AG were USD 29 million ( 201 8 : USD 4 2 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 be employed to manage volatility. The employer contributions expected to be made to the US defined benefit pension plans in 20 20 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 AG . 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 pla n, amounts are accrued annually based on employee elections related to variable compensation . For 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 amo unts 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 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 20 20 are estimated at USD 1 0 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 2019 2018 2019 2018 2019 2018 2019 2018 Defined benefit obligation at the beginning of the year 13,774 14,398 3,192 3,744 1,679 1,816 18,645 19,957 Current service cost 243 251 0 0 6 7 249 258 Interest expense 122 93 92 93 59 55 273 241 Plan participant contributions 149 137 0 0 0 0 149 137 Remeasurements (61) (263) 361 (266) 185 (69) 485 (598) of which: actuarial (gains) / losses due to changes in demographic assumptions (125) 0 (26) (18) 3 (5) (148) (23) of which: actuarial (gains) / losses due to changes in financial assumptions 1,006 (391) 421 (257) 179 (69) 1,605 (716) of which: experience (gains) / losses 1,2 (942) 128 (34) 8 4 5 (972) 142 Past service cost related to plan amendments 0 (132) 0 4 0 0 0 (128) Curtailments 0 (17) 0 0 0 0 0 (17) Benefit payments (624) (586) (135) (202) (102) (112) (860) (900) Foreign currency translation 206 (108) 144 (181) (8) (18) 342 (307) Defined benefit obligation at the end of the year 13,809 13,774 3,654 3,192 1,820 1,679 19,283 18,645 of which: amounts owed to active members 7,073 6,380 164 146 235 226 7,472 6,751 of which: amounts owed to deferred members 0 0 1,559 1,434 675 606 2,233 2,040 of which: amounts owed to retirees 6,735 7,394 1,931 1,612 911 847 9,577 9,854 Fair value of plan assets at the beginning of the year 15,772 16,388 3,032 3,469 1,168 1,265 19,972 21,122 Return on plan assets excluding amounts included in interest income 2 (30) (434) 284 (136) 150 (77) 403 (647) Interest income 142 109 89 86 47 44 278 238 Employer contributions 271 308 242 0 38 51 550 360 Plan participant contributions 149 137 0 0 0 0 149 137 Benefit payments (624) (586) (135) (202) (102) (112) (860) (900) Administration expenses, taxes and premiums paid (7) (7) 0 0 (2) (3) (9) (10) Foreign currency translation 235 (144) 146 (185) 0 0 381 (328) Fair value of plan assets at the end of the year 15,908 15,772 3,658 3,032 1,299 1,168 20,864 19,972 Asset ceiling effect at the beginning of the year 1,998 1,990 0 0 0 0 1,998 1,990 Interest expense on asset ceiling effect 18 14 0 0 0 0 18 14 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect 46 30 0 0 0 0 46 30 Foreign currency translation 36 (36) 0 0 0 0 36 (36) Asset ceiling effect at the end of the year 2,099 1,998 0 0 0 0 2,099 1,998 Net defined benefit asset / (liability) 0 0 4 (160) (521) (511) (518) (671) 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 (160) (275) (511) (550) (671) (825) Net periodic expenses recognized in net profit (248) (108) (3) (11) (21) (22) (271) (141) Gains / (losses) recognized in other comprehensive income (15) (201) (78) 130 (35) (8) (128) (79) Employer contributions 271 308 242 0 38 51 550 360 Foreign currency translation (8) 0 2 (4) 8 18 2 14 Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 4 (160) (521) (511) (518) (671) Funded and unfunded plans Defined benefit obligation from funded plans 13,809 13,774 3,654 3,192 1,319 1,219 18,782 18,184 Defined benefit obligation from unfunded plans 0 0 0 0 501 460 501 460 Plan assets 15,908 15,772 3,658 3,032 1,299 1,168 20,864 19,972 Surplus / (deficit) 2,099 1,998 4 (160) (521) (511) 1,582 1,327 Asset ceiling effect 2,099 1,998 0 0 0 0 2,099 1,998 Net defined benefit asset / (liability) 0 0 4 (160) (521) (511) (518) (671) 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 Includes the effect from employees transferring between UBS AG and UBS Business Solutions during the period. Analysis of amounts recognized in net profit USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Current service cost 243 251 0 0 6 7 249 258 Interest expense related to defined benefit obligation 122 93 92 93 59 55 273 241 Interest income related to plan assets (142) (109) (89) (86) (47) (44) (278) (238) Interest expense on asset ceiling effect 18 14 0 0 0 0 18 14 Administration expenses, taxes and premiums paid 7 7 0 0 2 3 9 10 Past service cost related to plan amendments 0 (132) 0 4 0 0 0 (128) Curtailments 0 (17) 0 0 0 0 0 (17) Net periodic expenses recognized in net profit 248 108 3 11 21 22 271 141 Analysis of amounts recognized in other comprehensive income (OCI) USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Remeasurement of defined benefit obligation 61 263 (361) 266 (185) 69 (485) 598 Return on plan assets excluding amounts included in interest income (30) (434) 284 (136) 150 (77) 403 (647) Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect (46) (30) 0 0 0 0 (46) (30) Total gains / (losses) recognized in other comprehensive income, before tax (15) (201) (78) 130 (35) (8) (128) (79) The table below provides information about the duration of the DBO and the timing for expected benefit payments. Swiss plan UK plan US and German plans 1 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Duration of the defined benefit obligation (in years) 15.2 14.5 20.2 19.5 10.1 9.8 Maturity analysis of benefits expected to be paid USD million Benefits expected to be paid within 12 months 687 704 93 82 121 108 Benefits expected to be paid between 1 and 3 years 1,383 1,439 209 187 228 216 Benefits expected to be paid between 3 and 6 years 2,048 2,170 384 345 346 336 Benefits expected to be paid between 6 and 11 years 3,232 3,446 748 701 548 566 Benefits expected to be paid between 11 and 16 years 2,899 3,140 807 770 455 494 Benefits expected to be paid in more than 16 years 9,136 10,253 3,913 3,927 721 798 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 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 t he 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 pensi ons 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 th at 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 pe nsion 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 pen sion 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 assumpti ons UBS AG regularly reviews the actuarial assumptions used in calculating its DBO to determine their continuing relevance. Swiss pension plan In 2019 , a net gain of USD 61 million was recognized in Other comprehensive income (OCI) related to the remeasurement of the DBO. This was primarily due to experience gains of USD 942 million, reflecting differences between the previous actuarial assumptions and what actually occurred, USD 149 million resulting from a decrease in the ex pected rate of interest credit on retirement savings, USD 65 million due to an update in the disability assumption and USD 60 million due to an update in the turnover assumption . This effect was partly offset by a market-driven decrease in the discount rate, which resulted in an OCI loss of USD 1,156 million. In 2018, a net gain of USD 2 63 million was recognized in 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 g ain of USD 478 m illion. This effect was partiall 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. UK pension plan In 2019, a loss of USD 361 mil |
Employee benefits_ variable com
Employee benefits: variable compensation | 12 Months Ended |
Dec. 31, 2019 | |
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. Starti ng with performance year 2019, GEB members, Group Managing Directors (GMDs) and Vice Chairs receive Long-Term Incentive Plan (LTIP) awards instead of EOP. EOP awards granted to GEB members and GMDs in 2019 and prior years, as well as EOP awards granted to certain other employees, will only vest if both Group and business division performance conditions are met. For awards granted in 2019 and 2020, related to the performance years 2018 and 2019, respectively, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). For awards granted in 2018 and before , the Group performance condition is based on th e average adjusted return on tangible equity (RoTE) excluding deferred tax assets over the performance period. Business division performance is measured on the basis of their average adjusted return on attributed equity (RoAE). For Corporate Center employe es, 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 re present a promise to receive UBS shares at vesting and do not carry voting rights during the vesting period. A wards granted generally 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 in 2018 for the performance year 2017, European Banking Authority guidelines do no t permit individuals who are deemed to be Material Risk Takers (MRTs) to receive dividend or interest payments on instrumen ts awarded as deferred variable compensation . 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. Awar ds 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 the grant ing of such awards . Awards granted to GEB members in 2019 and prior years generally vest after three, four and five years. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Long-Term Incentive Plan The LTIP is a manda tory deferred share-based compensation plan for senior leaders of the Group (i.e. , GEB members, GMDs and Vice Chairs ). LTI P awards are granted for the first time in 2020 as part of the performance award pool for 2019. The final number of notional shares d elivered at vesting depends on two equally weighted performance metrics: average reported r eturn on CET1 capital (RoCET1) and relative t otal shareholder return (rTSR ), which measures UBS's total shareholder return against an index consisting of g lobal s ystemically i mportant b anks as determined by the Financial Stability Board. These performance metrics are separately valued as of the date of grant and (re-) assessed over a three - year performance period starting in the year of grant. For both metrics there is a threshold level, which would result in a 33% payout, and a maximum level, which would result in a 100% payout. Any performance between the threshold and the maximum level would result in a linear payout between 33% and 100%. The final number of shares a s determined at the end of the three - year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff - vest in the first year following the performance period for GMDs and V ice Chairs . The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. In general, the form of the equity awards (notional shares), the entitlement to dividend equivalents and the settlement method i s the same as for EOP awards. 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 take 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 instrument. DCCP a wards vest in full after five years , and up to seven years for UK s enior m anagement f unctions , un less there is a trigger event. Awards are forfeited if a viability event occurs, i.e. , 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 ev ent. Additionally, they are also 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 lo ss-making year during the vesting period. Interest payments on DCCP awards are paid at the discretion of UBS. 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 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 In line with market practice for US wealth management businesses, the compensation for US financial advisors in Global Wealth Management is comprised of 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 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 things, errors, negligence or careless ness, 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, includ ing 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. Other compensation plans Equity Plus Plan (Equ ity 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 notional share for every three shares purchased, up to a maximum annual limit. S hare 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. E mployees are entitled to receive a dividend equivalent which may be paid in notional shares and/or cash. Role-based allowances (RBA) 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. RBA 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 followin g plans have been discontinued. 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 ( SA Rs ) or options on UBS shares with a strike price not less than the market value of a UB S share on the date of grant. SA Rs gave employees the right to receive a number of UBS sh ares equal to the increase in market price of the UBS share between the grant date and the exercise date. One option entitle d the holder to acquire one registered UBS share at the option’s strike price. SA Rs and options were settled by delivering UBS share s, except in jurisdictions where this was not permitted for legal reasons. All unexercised options and stock appreciatio n rights under these awards expire d in 2019. PartnerPlus Through performance year 2016, financial advisor strategic objective awards wer e 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 percent age, 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 fol lowing 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 p roduction and length of service exceed ed defined thresholds from 2010 to 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 f ive years. Share delivery obligations Share delivery obligations related to employee share-based compensation awards were 156 million shares as of 31 December 201 9 ( 31 December 201 8: 146 million shares) . Share delivery obligations are calculated on the basis of un distributed notional share awards, options and stock appreciation rights, taking applicable performance conditions into account. As of 31 December 201 9 , UBS held 125 million treasury shares (31 December 201 8 : 1 18 million) that were available to satisfy share delivery obligations. Treasury shares held are delivered to employees at exercise or vesting. b) Effect on the income statement Effect on the income statement for the financial year and future periods The table below provides info rmation about compensation expenses related to total variable compensation, including financial advisor variable compensation, that were recognized in the financial year ended 31 December 2019 , as well as expenses that were deferred and will be recognized in the income statement for 2020 and later. The majority of expenses deferred to 20 20 and later that are related to the performance year 201 9 rela tes to awards granted in February 20 20 . The total unamortized compensation expense for unvested share-based awards granted up to 31 December 2019 will be recognized in future periods over a weighted average period of 2.4 years. Variable compensation including financial advisor variable compensation Expenses recognized in 2019 Expenses deferred to 2020 and later 1 USD million Related to the performance year 2019 Related to prior performance years Total Related to the performance year 2019 Related to prior performance years Total Non-deferred cash 1,894 (26) 1,868 0 0 0 Deferred compensation awards 299 588 887 429 608 1,036 of which: Equity Ownership Plan 122 300 422 205 219 424 of which: Deferred Contingent Capital Plan 113 262 375 173 365 538 of which: Long-Term Incentive Plan 39 0 39 25 0 25 of which: Asset Management EOP 25 26 51 26 23 49 Total variable compensation – performance awards 2,193 562 2,755 429 608 1,036 Replacement payments 5 51 56 44 30 75 Forfeiture credits 0 (86) (86) 0 0 0 Severance payments 125 0 125 0 0 0 Retention plan and other payments 28 28 56 23 29 52 Deferred Contingent Capital Plan: interest expense 0 94 94 50 172 222 Total variable compensation – other 159 88 246 117 232 349 Financial advisor variable compensation 3,233 268 3,501 197 710 907 of which: non-deferred cash 3,064 0 3,064 0 0 0 of which: deferred share-based awards 57 48 106 54 130 183 of which: deferred cash-based awards 112 219 331 144 580 724 Compensation commitments with recruited financial advisors 2 32 510 542 350 1,617 1,967 Total financial advisor variable compensation 3,265 778 4,043 548 2,327 2,874 Total variable compensation including FA variable compensation 5,617 1,428 7,045 3 1,093 3,166 4,259 1 Estimate as of 31 December 2019. Actual amounts to be expensed in future periods may vary, e.g., due to forfeiture of awards. 2 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. 3 Includes USD 610 million in expenses related to share-based compensation (performance awards: USD 461 million; other variable compensation: USD 43 million; financial advisor compensation: USD 106 million). A further USD 61 million in expenses related to share-based compensation was recognized within other expense categories included in Note 6 (salaries: USD 10 million, related to role-based allowances; social security: USD 25 million; other personnel expenses: USD 27 million related to the Equity Plus Plan). Total personnel expense related to share-based equity-settled compensation excluding social security was USD 619 million. Variable compensation including financial advisor variable compensation (continued) Expenses recognized in 2018 Expenses deferred to 2019 and later 1 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 2 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 3 1,250 3,444 4,694 1 Estimate as of 31 December 2018. Actual amounts expensed may vary, e.g., due to forfeiture of awards. 2 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. 3 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 expense categories included in Note 6 (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 expense related to share-based equity-settled compensation excluding social security was USD 676 million. Variable compensation including financial advisor variable compensation (continued) Expenses recognized in 2017 Expenses deferred to 2018 and later 1 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 2 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 3 1,316 3,848 5,164 1 Estimate as of 31 December 2017. Actual amounts expensed may vary, e.g., due to forfeiture of awards. 2 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. 3 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 expense categories included in Note 6 (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 expense related to share-based equity-settled compensation excluding social security was USD 735 million. c) Outstanding share-based compensation awards Share and performance share awards Movements in outstanding share-based awards under the EOP during 2019 and 2018 are provided in the table below. Movements in outstanding share-based compensation awards Number of shares 2019 Weighted average grant date fair value (USD) Number of shares 2018 Weighted average grant date fair value (USD) Outstanding, at the beginning of the year 146,845,027 16 162,835,713 15 Awarded during the year 77,641,909 11 58,329,398 17 Distributed during the year (61,152,200) 13 (67,696,099) 15 Forfeited during the year (7,269,974) 14 (6,623,984) 16 Outstanding, at the end of the year 156,064,763 14 146,845,027 16 of which: shares vested for accounting purposes 79,486,447 66,850,562 The total carrying amount of the liability related to cash-settled share-based awards as of 31 December 201 9 and 31 December 2018 was USD 34 million and USD 39 million, respective ly. Option awards No option awards have been granted since 2009. All remaining options expired in the year 2019. The table below provides information about movements in outstanding option awards during 201 9 and 201 8 . As these awards are Swiss franc-denomin ated, weighted average exercise prices are pr esented in Swiss francs. Movements in outstanding option awards Number of options 2019 Weighted average exercise price (CHF) Number of options 2018 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 6,567,592 14 32,583,168 25 Exercised during the year 1 (2,818,070) 10 (1,813,583) 12 Forfeited during the year (512) 16 (19,752) 23 Expired unexercised (3,749,010) 16 (24,182,241) 29 Outstanding, at the end of the year 0 n/a 6,567,592 14 Exercisable, at the end of the year 0 n/a 6,567,592 14 1 The weighted average share price upon option exercise was CHF 12.69 in 2019 (2018: CHF 16.22), resulting in an intrinsic value of CHF 7 million of options exercised during 2019 (2018: CHF 7 million). SAR awards No SAR awards have been granted since 2009. All remaining SARs expired in the year 2019. The table below provides information about movements in outstanding SAR awards during 201 9 and 201 8 . As these awards are Swiss fr anc-denominated, weighted average exercise prices are pr esented in Swiss francs. Movements in outstanding SAR awards Number of SARs 2019 Weighted average exercise price (CHF) Number of SARs 2018 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 5,965,769 12 8,513,415 12 Exercised during the year 1 (5,381,259) 11 (2,490,146) 11 Forfeited during the year 0 0 (11,000) 13 Expired unexercised (584,510) 16 (46,500) 12 Outstanding, at the end of the year 0 n/a 5,965,769 12 Exercisable, at the end of the year 0 n/a 5,965,769 12 1 The weighted average share price upon exercise of SARs was CHF 12.71 in 2019 (2018: CHF 16.15), resulting in an intrinsic value of CHF 7 million of SARs exercised during 2019 (2018: CHF 12 million). 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 condit ions, 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 p ut option for the term of the transfer restriction. The weighted average discount for share and performance share awards granted during 2019 was approximately 22.6 % ( 2018 : 18.0 %) 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 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 U BS AG. For the purpose of this Note, references to shares refer to UBS 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 comp ensation greater than USD / CHF 300,000. Starting with performance year 2019, GEB members, Group Managing Directors (GMDs) and Vice Chairs receive Long-Term Incentive Plan (LTIP) awards instead of EOP. EOP awards granted to GEB members and GMDs in 2019 and prior years, as well as EOP awards granted to certain other employees, will only vest if b oth Group and business division performance conditions are met. For awards granted in 2019 and 2020, related to the performance years 2018 and 2019, respectively, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). For awards granted in 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. Business division performance is measur ed 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 norm al 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. A wards granted generally 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 in 2018 for the performance year 2017, European Banking Authority guidelines do no t permit individu als who are deemed to be Material Risk Takers (MRTs) to receive dividend or interest payments on instruments awarded as deferred variable compensation . 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 the grant ing of such awards . Awards granted to GEB members in 2019 and prior years generally vest after three, four and five years. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. Long-Term Incentive Plan The LTI P is a mandatory deferred share-based compensation plan for senior leaders of the Group (i.e. , GEB members, G MD s and Vice Chairs ). LTI P awards are granted f or the first time in 2020 as part of the performance award pool for 2019. The final number of notional shares delivered at vesting depends on two equally weighted performance metrics: average reported return on CET1 capital (RoCET1) and relative total shareholder return (rTSR ), which measures UBS's total shareholder return against an index consisting of global systemically important banks as determined by the Financial Stability Board. These performance metrics are separately valued as of the date of grant and (re-)assessed over a three- year performance period starting in the year of grant. For both metrics there is a threshold level, which would result in a 33% payout, and a maximum level, which would result in a 100% payout. Any performance between the th reshold and the maximum level would result in a linear payout between 33% and 100%. The final number of shares as determined at the end of the three - year performance period will vest in three equal installments in each of the three years following the perf ormance period for GEB members, and cliff - vest in the first year following the performance period for GMDs and Vice Chairs . The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. In general, the form of the equity awards (notional shares), the entitlement to dividend equivalents and the settlement method is the same as for EOP awards. 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 take the form of notional additional tier 1 (AT1) capital instruments, which , at the discretion of UBS , can be settled in either a cash payment o r a perpetual, marketable AT1 capital instrument. 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, i.e. , 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 also written down if the Group’s common equity tier 1 capital ratio falls below 10% for GEB members and below 7% for a ll other employees. As an additional performance condition, GEB members forfeit 20% of their award for each loss - making year during the vesting period. I nterest payments on DCCP awards are paid at the discretion of UBS . Where interest payments are not perm itted, 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 they manage, awards are granted to such employees in the form of cash-settled notional investment funds. The amount delivered depends on the val ue 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. F inancial advisor variable compensation In line with market practice for US we alth management businesses, the compensation for US financial advisors in Global Wealth Management is comprised of production payout and deferred compensation awards. Production payout is primarily based on compensable revenue and is paid monthly. Financia l advisors may also qualify for deferred compensation awards, which generally 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 things, 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 awar ds 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 deferr ed cash-based awards, with a vesting period of up to six 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 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 unt il three years from the start of the associated plan year and, in general, if the employee remains employed by UBS , the notional shares vest. E mployees are entitled to receive a dividend equivalent which may be paid in notional shares and/or cash. Role-bas ed allowances (RBA) 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 i s paid only as long as the employee is in such a role. RBA 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. 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 ( SA Rs ) or options on UBS shares with a strike price not less than the market value of a UB S share on the date of grant. SA Rs gave employees the right to receive a number of UBS shares equal to the increase in market price of the UBS share between the grant date and the exercise date. One option entitle d the holder to acquire one registered UBS share at the option’s strike price. SA Rs and options were settled by delivering UBS shares, except in jurisdictions where this was not permitted for legal reasons. All unexercised options and stock appreciatio n rights under these awards expire d in 2019. PartnerPlus Through performance year 2016, financial advisor strategic objective awards were partly granted under the PartnerPlus deferred cash plan. In addition to such granted awards (UBS company contributions), participant s 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 c ontributions 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. GrowthPlus GrowthPlus is a compensation plan for selected financial advisors whose revenue production and length of service exceed ed defined thresholds from 2010 to 2017. Awards were granted in 2010, 2011, 2015 and 2018. The a wards are cash-based and are distributed over seven years, with the exception of 2018 awards, which are distributed over five years. b) Effect on the income sta tement Effect on the income statement for the financial year and future periods The table below provides info rmation about compensation expenses related to total variable compensation, including financial advisor variable compensa tion, that were recognized in the financial year ended 31 December 2019 , as well as expenses that were deferred and will be recognized in the income statement for 2020 and later. The majority of expenses deferred to 20 20 and later that are related to the performance year 201 9 relates to awards granted in February 20 20 . The total unamortized compensation expense for unvested share-based awards granted up to 31 December 2019 will be recognized in future periods over a weighted average period of 2.4 years. Variable compensation including financial advisor variable compensation Expenses recognized in 2019 Expenses deferred to 2020 and later 1 USD million Related to the performance year 2019 Related to prior performance years Total Related to the performance year 2019 Related to prior performance years Total Non-deferred cash 1,706 (24) 1,682 0 0 0 Deferred compensation awards 287 576 863 413 592 1,005 of which: Equity Ownership Plan 115 294 410 198 213 412 of which: Deferred Contingent Capital Plan 109 256 365 166 356 521 of which: Long-Term Incentive Plan 38 0 38 23 0 23 of which: Asset Management EOP 25 26 51 26 23 49 Total variable compensation – performance awards 1,993 553 2,545 413 592 1,005 Replacement payments 5 49 55 43 30 73 Forfeiture credits 0 (84) (84) 0 0 0 Severance payments 110 0 110 0 0 0 Retention plan and other payments 24 27 52 22 29 51 Deferred Contingent Capital Plan: interest expense 0 93 93 50 169 219 Total variable compensation – other 140 85 225 115 228 343 Financial advisor variable compensation 3,233 268 3,501 197 710 907 of which: non-deferred cash 3,064 0 3,064 0 0 0 of which: deferred share-based awards 57 48 106 54 130 183 of which: deferred cash-based awards 112 219 331 144 580 724 Compensation commitments with recruited financial advisors 2 32 510 542 350 1,617 1,967 Total financial advisor variable compensation 3,265 778 4,043 548 2,327 2,874 Total variable compensation including FA variable compensation 5,398 1,416 6,814 3 1,076 3,146 4,222 1 Estimate as of 31 December 2019. Actual amounts to be expensed in future periods may vary, e.g., due to forfeiture of awards. 2 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. 3 Includes USD 595 million in expenses related to share-based compensation (performance awards: USD 448 million; other variable compensation: USD 42 million; financial advisor compensation: USD 106 million). A further USD 54 million in expenses related to share-based compensation was recognized within other expense categories included in Note 6 (salaries: USD 10 million, related to role-based allowances; social security: USD 23 million; other personnel expenses: USD 22 million related to the Equity Plus Plan). Variable compensation including financial advisor variable compensation (continued) Expenses recognized in 2018 Expenses deferred to 2019 and later 1 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 2 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 3 1,233 3,424 4,656 1 Estimate as of 31 December 2018. Actual amounts expensed may vary, e.g., due to forfeiture of awards. 2 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. 3 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 expense categories included in Note 6 (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 (continued) Expenses recognized in 2017 Expenses deferred to 2018 and later 1 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 2 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 3 1,306 3,829 5,135 1 Estimate as of 31 December 2017. Actual amounts expensed may vary, e.g., due to forfeiture of awards. 2 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. 3 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 expense categories included in Note 6 (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). c) Outstanding share-based compensation awards Share and performance share awards Movements in outstanding share-based awards under the EOP during 2019 and 2018 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-based compensation awards Number of shares 2019 Weighted average grant date fair value (USD) Number of shares 2018 Weighted average grant date fair value (USD) Outstanding, at the beginning of the year 201,793 15 404,720 15 Awarded during the year 29,092 11 26,005 13 Distributed during the year (140,441) 14 (228,932) 15 Forfeited during the year 0 0 0 0 Outstanding, at the end of the year 90,443 14 201,793 15 of which: shares vested for accounting purposes 56,492 133,225 The total carrying amount of the liability related to cash-settled share-based awards as of 31 December 201 9 and 31 December 2018 was USD 1 million and USD 2 million, respectively. 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-vest ing 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 restricti on 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 2019 was approximately 22.6 % ( 2018 : 18.0 % ) 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. |
Interests in subsidiaries
Interests in subsidiaries | 12 Months Ended |
Dec. 31, 2019 | |
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 sub sidiaries as of 31 December 2019 . Unless otherwise stated, the subsidiaries listed below have share capital consisting solely of ordinary shares that are held entirely by the Group, and the proportion of ownership interest held is equal to the voting rights 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 outsid e Switzerland in the UK, the 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 leg ally registered office. Individually significant subsidiaries of UBS Group AG as of 31 December 2019 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 1 UBS Business Solutions AG holds subsidiaries in Poland, China and India. Individually significant subsidiaries of UBS AG as of 31 December 2019 1 Company Registered office Primary business Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 3,150.0 2 100.0 UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 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 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 3,150,000,000. 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 an d are thereby disclosed in accordance with the requirements set by the SEC. Other subsidiaries of UBS AG as of 31 December 2019 Company Registered office Primary business Share capital in million Equity interest accumulated in % 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 Asset Management Life Ltd London, United Kingdom Asset Management GBP 15.0 100.0 UBS Asset Management Switzerland AG Zurich, Switzerland Asset Management CHF 0.5 100.0 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 1 Includes a nominal amount relating to redeemable preference shares. Consolidated str uctured 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, s ecuritization 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 a bility 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 units . 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 2019 and 2018 , the Group did not enter into any contractual obligation that could require the Group to provide 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. Further, 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 | N ote 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 bel ow list UBS AG ’s individually significant sub sidiaries as of 31 December 2019 . Unless otherwise stated, the subsidiaries listed below have share capital consisting solely of ordinary shares that are held entirely by UBS AG , and the proportion of ownership interest 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 bus iness activity is conducted outside Switzerland in the UK, the 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 p rovided in the currency of the legally registered office. Individually significant subsidiaries of UBS Group AG as of 31 December 2019 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 1 UBS Business Solutions AG holds subsidiaries in Poland, China and India. Individually significant subsidiaries of UBS AG as of 31 December 2019 1 Company Registered office Primary business Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 3,150.0 2 100.0 UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 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 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 3,150,000,000. 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 of UBS AG as of 31 December 2019 Company Registered office Primary business Share capital in million Equity interest accumulated in % 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 Asset Management Life Ltd London, United Kingdom Asset Management GBP 15.0 100.0 UBS Asset Management Switzerland AG Zurich, Switzerland Asset Management CHF 0.5 100.0 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 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. Consol idated SEs include certain investment funds, securitization vehicles 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 power 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 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 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 2019 and 2018 , 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 otherwise, 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, 2019 | |
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 2019 and 2018 , 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. Investments in associates and joint ventures USD million 2019 2018 Carrying amount at the beginning of the year 1,099 1,045 Additions 0 3 Disposals 1 0 (431) Reclassifications 2 (21) Share of comprehensive income 25 529 of which: share of net profit 3 46 529 of which: share of other comprehensive income 4 (21) 1 Dividends received (83) (42) Impairment (1) Foreign currency translation 11 16 Carrying amount at the end of the year 1,051 1,099 of which: associates 1,010 1,066 of which: SIX Group AG, Zurich 5 887 952 of which: other associates 123 114 of which: joint ventures 41 33 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 2019, consists of USD 28 million from associates and USD 18 million from joint ventures. 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. 4 For 2019, consists of negative USD 22 million from associates and USD 1 million from joint ventures. For 2018, the total of USD 1 million is from associates. 5 In 2019, 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 and joint ventures As of 31 December 2019 and 2018 , 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 . Investments in associates and joint ventures USD million 2019 2018 Carrying amount at the beginning of the year 1,099 1,045 Additions 0 3 Disposals 1 0 (431) Reclassifications 2 (21) Share of comprehensive income 25 529 of which: share of net profit 3 46 529 of which: share of other comprehensive income 4 (21) 1 Dividends received (83) (42) Impairment (1) Foreign currency translation 11 16 Carrying amount at the end of the year 1,051 1,099 of which: associates 1,010 1,066 of which: SIX Group AG, Zurich 5 887 952 of which: other associates 123 114 of which: joint ventures 41 33 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 2019, consists of USD 28 million from associates and USD 18 million from joint ventures. 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. 4 For 2019, consists of negative USD 22 million from associates and USD 1 million from joint ventures. For 2018, the total of USD 1 million is from associates. 5 In 2019, 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, 2019 | |
Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Unconsolidated Structured Entities Explanatory | c) Int erests in unconsolidated structured entities During 2019 , the Group sponsored the creation of various SEs and interacted with a number of non-sponsored SEs, including securitization vehicles, client vehicles as well as certain investment funds, that UBS did not consolidate as of 31 December 2019 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 whic h the carrying amount of UBS’s interest as of year-end has been disclosed. Interests in unconsolidated structured entities 31.12.19 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 462 130 5,874 6,466 6,466 Derivative financial instruments 9 9 36 55 53 Loans and advances to customers 174 174 174 Financial assets at fair value not held for trading 81 8 2 157 245 997 Financial assets measured at fair value through other comprehensive income 3,955 3,955 3,955 Other financial assets measured at amortized cost 335 16 2 351 1,372 Total assets 888 3 4,118 6,242 11,247 Derivative financial instruments 2 4 225 324 552 1 Total liabilities 2 225 324 552 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 55 5 73 6 413 7 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 2 166 302 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 3 4,212 7,643 12,682 Derivative financial instruments 3 4 123 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 5 69 6 385 7 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 amount of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. 3 As of 31 December 2019, USD 0.6 billion of the USD 0.9 billion (31 December 2018: USD 0.6 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 4 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 amount and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 5 Represents the principal amount outstanding. 6 Represents the market value of total assets. 7 Represents the net asset value of the investment funds sponsored by UBS and the carrying amount of UBS’s interests in the investment funds not sponsored by UBS. The Group retains or purchases interests in unconsolidated SEs in the form of direct investments, financing, guarantees, letters of credit, derivat ives and through management contracts. The Group’s maximum exposure to loss is generally equal to the carrying amount of the Group’s interest in the SE, with the exception of guarantees, letters of credit and credit derivatives , for which the contract’s no tional 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 present ed 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, inc luding 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 2019 and 2018 , 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 2019 and 2018 , income and expenses from interests in unconsolidated SEs primarily resulted from mark -to- market movements recognized in Other net income from financial instruments measured at fair value through profit of loss , which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsore d funds. Interests in securitization vehicles As of 31 December 2019 and 31 December 2018 , the Group held interests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and L egacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, 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 structure. The numbers outlined in the table on the previous page may differ from the securitization positio ns presented in the 31 December 2019 Pillar 3 r eport under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group di d not have an interest because it did not absorb any risk ; (ii) a different measurement basis in certain cases (e.g., IFRS carrying amount within the table above compared with net exposure amount at default for Pillar 3 disclosures) ; and (iii) different cl assification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information about the Group’s accounting policies regarding consolidation and sponsorsh ip of securitization vehicles and other structured entities Refer to the 31 December 2019 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more information Interests in client vehicles As of 31 December 2019 and 31 December 2018 , 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 structured product offerings. In addition to the interests disclosed in the table on the prev ious 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 v arious 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 the Group’s exposure with investors, pro viding 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 investors. Any amounts due are collected on a regular basis and are g enerally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2019 or as of 31 December 2018 . 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 reportin g period the Group 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 incurred 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 instrum ents used to economically 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 an y 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 ther efore not been included in the table below. The Group also recorded other net income from financial instruments measured at fair value through profit or loss from mark-to-market movements arising primarily from derivatives, such as interest rate and curre ncy swaps as well as credit derivatives, through 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. T otal income reported does not reflect economic hedges or other mitigating effects from the Group’s risk management activities. During 2019 , UBS and third parties transferred assets of USD 1 billion and USD 1 billion , respectively , into sponsored securit ization ve hicles created in the year ( 2018 : USD 1 billion and USD 1 billion , respectively). UBS and third parties also transferred assets of USD 0 billion and USD 1 billion , respectively , into sponsored client vehicles created in the year ( 2018 : USD 2 billion and USD 0 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 42 billion (31 December 2018 : USD 1 8 billion). Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end As of or for the year ended 31.12.19 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income (1) 0 (1) (2) Net fee and commission income 13 50 63 Other net income from financial instruments measured at fair value through profit or loss 19 (18) 9 11 Total income 19 (5) 58 72 Asset information (USD billion) 2 1 1 2 42 3 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 financial instruments measured at fair value through profit or loss 0 8 20 29 Total income 1 18 60 78 Asset information (USD billion) 2 1 2 2 18 3 1 Represents the amount of assets transferred to the respective securitization vehicles. 2 Represents the amount of assets transferred to the respective client vehicles. 3 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 2019 , UBS AG sponsored the creation of various SEs and inter acted with a number of non-sponsored SEs, including securitization vehicles, client vehicles as well as certain investment funds, that UBS did not consolidate as of 31 December 2019 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 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 amount of UBS’s interest as of year-end has been disclosed. Interests in unconsolidated structured entities 31.12.19 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 462 130 5,874 6,466 6,466 Derivative financial instruments 9 9 36 55 53 Loans and advances to customers 174 174 174 Financial assets at fair value not held for trading 81 8 2 62 151 902 Financial assets measured at fair value through other comprehensive income 3,955 3,955 3,955 Other financial assets measured at amortized cost 335 16 2 351 1,372 Total assets 888 3 4,118 6,147 11,152 Derivative financial instruments 2 4 225 324 552 1 Total liabilities 2 225 324 552 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 55 5 73 6 413 7 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 85 220 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 3 4,212 7,562 12,600 Derivative financial instruments 3 4 123 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 5 69 6 385 7 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 amount of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. 3 As of 31 December 2019, USD 0.6 billion of the USD 0.9 billion (31 December 2018: USD 0.6 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 4 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 amount and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 5 Represents the principal amount outstanding. 6 Represents the market value of total assets. 7 Represents the net asset value of the investment funds sponsored by UBS and the carrying amount of UBS’s interests in the investment funds not sponsored by UBS. 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 amount 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. The maximum 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 2019 and 2018 , 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 2019 and 2018 , income and expenses from interests in unconsolidated SEs primarily resulted from mark-to- market movements recog nized in Other net income from financial instruments measured at fair value through profit of loss , which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. Interests in secu ritization vehicles As of 31 December 2019 and 31 December 2018 , UBS AG 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 Investme nt 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. The numbers outlined in the table on the previous page may differ from the securitization positio ns presented in the 31 December 2019 Pillar 3 report under “Pillar 3 disclosures” a t HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion of synthetic 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 amount 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 about UBS AG ’s accounting policies regarding consolidation and sponsorsh ip of securitization vehicles and ot her structured entities Refer to the 31 December 2019 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more information Interests in client vehicles As of 31 December 2019 and 31 December 2018 , UBS AG retained interests in client vehicles sponsored by UBS AG 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 invest ment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, UBS AG manages the ass ets 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 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 investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fu nd. UBS AG did not have any material exposure to loss from these interests as of 31 December 2019 or as of 31 December 2018 . 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 incurred 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 economically hedge instrum ents 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 services, 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 included in the table below . UBS AG also recorded other net income from financial instruments measured at fair value through profit or loss from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivati ves, through 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 econ omic hedges or other mitigating effects from UBS AG ’s risk management activities. During 2019 , UBS AG and third parties transferred assets of USD 1 billion and USD 1 billion , respectively , into sponsored securitization ve hicles created in the year ( 2018 : USD 1 billion and USD 1 billion , respectively). UBS AG and third parties also transferred assets of USD 0 billion and USD 1 billion , respectively , into sponsored client vehicles created in the year ( 2018 : USD 2 billion and USD 0 billion , respective ly). 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 42 billion (31 December 2018 : USD 1 8 billion). Sponsored unconsolidated structured entities in which UBS did not have an interest at year-end As of or for the year ended 31.12.19 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income (1) 0 (1) (2) Net fee and commission income 13 50 63 Other net income from financial instruments measured at fair value through profit or loss 19 (18) 9 11 Total income 19 (5) 58 72 Asset information (USD billion) 2 1 1 2 42 3 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 financial instruments measured at fair value through profit or loss 0 8 20 29 Total income 1 18 60 78 Asset information (USD billion) 2 1 2 2 18 3 1 Represents the amount of assets transferred to the respective securitization vehicles. 2 Represents the amount of assets transferred to the respective client vehicles. 3 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, 2019 | |
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 UK business transfer and cross-border merger of UBS Limited into UBS Europe SE 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. Tra nsactions affecting the transferred businesses that occurred on or after the transfer date were recorded in UBS AG, London Branch. On 1 March 2019, UBS completed its co mbined UK business transfer and cross-border merger of UBS Limited into UBS Europe SE , i ts Germany-headquartered European subsidiary . UBS Asset Management AG In 2016, UBS transferred the majority of the operating subsidiaries of Asset Management to UBS Asset Management AG. Effective 1 April 2019, as part of UBS’s efforts to improve the resolv ability of the Group, the portion of the Asset Management business in Switzerland conducted by UBS AG was transferred from UBS AG to its indirect subsidiary, UBS Asset Management Switze rland AG. With this transfer, UBS has completed the transfer of its Swiss Asset Management business and all Asset Management subsidiaries outside the US into a separate Asset Management sub-group structure. 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 (AT1) capital instruments and total loss-absorbing capacity (TLAC)-eligibl e senior unsecured debt, which we re guaranteed by UBS Group AG. In line with regulatory requirements in Switzerland and following a change in Swiss tax law as of 1 January 2019 that applies to holding companies of systemically relevant banks issuing loss-absorbing AT1 or TLAC -eligible senior unsecured debt instruments , UBS has migrated such existing instruments to UBS Group AG from UBS Group Funding (Switzerland) AG in October 2019 . UBS Business Sol utions 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 own ership 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 and UBS also completed the trans fer 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. Acquisitions Increase of stake in and consolidation of UBS Securities China In December 2018, U BS 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 remeasured its former 24.99% holding at fair value, re sulting 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 acqu isition of the additional 26.01% stake was USD 125 million. Upon consolidation, UBS recognized 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. Sales and di sposals of subsidiaries and businesses In 2019, 2018 and 2017 , no significant subsidiaries were removed from the scope of consolidation as a result of sales or disposals. In the third quarter 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 Asse t 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. Strategic partnership with Sumitomo Mitsui Trust Holdings In June 2019, UBS entered into a strategic wealth management partnership in Japan with Sumitomo Mitsui Trust Holdings, Inc. (SuMi Trust Holdings). In January 2020, the first phase was launched, with operations commencing in the newly established joint venture, UBS SuMi TRUST Wealth Advisory, which is owned equally by UBS Securities Japan and SuMi Trust Holdings and is accounted for as an investment in a joint venture by UBS. UBS and SuMi Trust Holdings have also started offering each other’s products and services to their respective current clients. The second phase of the partnership is expected to launch in 2021 with the establishment of a new entity which will be 51% owned and controlled by UBS, requiring UBS to consolidate this entity. UBS does not expect a material effect on shareholders’ equity of the Group upon closing. Strategic partnership with Banco do Brasil In November 2019, UBS signed a binding agreement with Banco do Brasil to establish a strategic investment banking partnership that will provide investment banking services and institutional securities brokerage in Brazil and selected countries in South America. The partnership is expected to be established through a combination of a ssets from both stakeholders. UBS intend s to contribute its operational investment banking platform in Braz il and Argentina, as well as its institutional brokerage business in Brazil. Banco do Brasil intends to contribute the exclusive access rights to its corporate clients. UBS will hold a controlling interest of 50.01% in the entity , requiring UBS to consolidate this entity . Closing of the transaction is subject to regulatory approvals and is currently expected in the first half of 2020. UBS does not expect a material effect on shareholders’ equity of the Group upon closing. Sale of majority stake in UBS Fondcenter In January 2020 , UBS has agreed to sell a majority stake in UBS Fondcenter to Clearstream, Deutsche Börse Group’s post-trade services provider. UBS will retain a minority (48.8%) shareholding in the business and will enter into an agreement under which it may sell its remaining shareholding to Clearstream at a later date. As part of the transaction, UBS and Clearstream will enter into long-term commercial cooperation arrangements for the provision of services to Global Wealth Management, Asset Management and the Corporate & Institutional Clients unit of Persona l & Corporate Banking . The transaction is subject to customary closing conditions and is expected to clos e in the second half of 2020. UBS expect s to recor d a post-tax gain of around USD 600 million upo n closing of the transaction. UBS will deconsolidate UBS Fond center and account for its minority interest as an investment in an associate |
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 UK business transfer and cross-border merger of UBS Limited into UBS Europe SE 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. Tra nsactions affecting the transferred businesses that occurred on or after the transfer date were recorded in UBS AG, London Branch. On 1 March 2019, UBS AG completed its co mbined UK business transfer and cross-border merger of UBS Limited into UBS Europe SE , its Germany-headquartered European subsidiary . UBS Asset Management AG In 2016, UBS AG transferred the majority of the operating subsidiaries of Asset Management to UBS Asset Management AG. Effective 1 April 2019, as part of UBS’s efforts to improve the resolvability of the Group, the portion of the Asset Management business in Switzerland conducted by UBS AG was transferred from UBS AG to its indirect subsidiary, UBS Asset Management Switze rland AG. With this transfer, UBS AG has completed the transfer o f its Swiss Asset Management business and all Asset Management subsidiaries outside the US into a separate Asset Management sub-group structure. UBS Group Funding (Switzerland) AG UBS Group Funding (Switzerland) AG was established in 2016 as a wholly owned direct subsidiary of UBS Group AG, to issue loss-absorbing additional tier 1 (AT1) capital instruments and total loss-absorbing capacity (TLAC)-eligibl e senior unsecured debt, which we re guaranteed by UBS Group AG. In line with regulatory requirements in Switzerland and following a change in Swiss tax law as of 1 January 2019 that applies to holding companies of systemically relevant banks issuing loss-absorbing AT1 or TLAC -eligible senior unsecured debt instruments , such existing instruments were migrated to UBS Group AG from UBS Group Funding (Switzerland) AG in October 2019 . 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 ow nership 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 and UBS AG also completed the t ransfer 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. Acquisitions Increase of stake in and consolidation of UBS Securities China In December 201 8, 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 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 investmen t in associate, also in Other income . The cost of acquisition 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 inte rest of USD 136 million has been recognized. Sales and disposals of subsidiaries and businesses In 2019, 2018 and 2017 , no significant subsidiaries were 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 ad ministration servicing units in Luxembourg and Switzerland to Northern Trust, resulting in a pre-tax gain on sale of USD 153 million. Strategic partnership with Sumitomo Mitsui Trust Holdings In June 2019, UBS AG entered into a strategic wealth management partnership in Japan with Sumitomo Mitsui Trust Holdings, Inc. (SuMi Trust Holdings). In January 2020, the first phase was launched, with operations commencing in the newly established joint venture, UBS SuMi TRUST Wealth Advisory, which is owned equally by UBS Securities Japan and SuMi Trust Holdings and is accounted for as an investment in a joint venture by UBS AG . UBS AG and SuMi Trust Holdings have also started offering each other’s products and services to their respective current clients. The second phase of the partnership is expected to launch in 2021 with the establishment of a new entity which will be 51% owned and controlled by UBS AG , requiring UBS AG to consolidate this entity. UBS AG does not expect a material effect on shareholders’ equity upon closing. Strategic partnership with Banco do Brasil In November 2019, UBS AG signed a binding agreement with Banco do Brasil to establish a strategic investment banking partnership that will provide investment banking services and institutional securities brokerage in Brazil and selected countries in South America. The partnership is expected to be established through a combination of a ssets from both stakeholders. UBS AG intend s to contribute its operational investment banking platform in Braz il and Argentina, as well as its institutional brokerage business in Brazil. Banco do Brasil intends to contribute the exclusive access rights to its corporate clients. UBS AG will hold a controlling interest of 50.01% in the entity , requiring UBS AG to consolidate this entity . Closing of the transaction is subject to regulatory approvals and is currently expected in the first half of 2020. UBS AG does not expect a material effect on shareholders’ equity upon closing. Sale of majority stake in UBS Fondcenter In January 2020 , UBS AG has agreed to sell a majority stake in UBS Fondcenter to Clearstream, Deutsche Börse Group’s post-trade services provider. UBS AG will retain a minority (48.8%) shareholding in the business and will enter into an agreement under which it may sell its remaining shareholding to Clearstream at a later date. As part of the transaction, UBS AG and Clearstream will enter into long-term commercial cooperation arrangements for the provision of services to Global Wealth Management, Asset Management and the Corporate & Institutional Clients unit of Persona l & Corporate Banking . The transaction is subject to customary closing conditions and is expected to clos e in the second half of 2020. UBS AG expect s to record a post-tax gain of around USD 600 million upo n closing of the transaction. UBS AG will deconsolidate UBS Fond center and account for its minority interest as an investment in an associate. |
Finance lease receivables
Finance lease receivables | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Operating Leases And Finance Leases [Line Items] | |
Disclosure Of Leases Explanatory | Note 33 Finance lease receivables UBS acts as a lessor and 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 payments cover the cost of the assets less their residual value as well as financing costs. As of 31 December 2019, unguaranteed residual values of USD 246 million (31 December 2018: USD 156 million ) had been accrued and the ECL stage 3 allowance for uncollectible minimum lease payments receivable was USD 6 million (31 December 2018: USD 7 million) . No contingent rents were received in 2019. Amounts in the table below are disclosed on a gross basis. The finance lease receivabl es in Note 17a of USD 1,444 million are presented net of expected credit loss allowances. Lease receivables USD million 31.12.19 Total minimum lease payments Unearned finance income Present value 2020 448 31 417 2021–2024 874 52 822 Thereafter 221 6 215 Total 1,544 89 1,455 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 Finance lease receivables UBS AG acts as a lessor and 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 payments cover the cost of the assets less their residual val ue as well as financing costs. As of 31 December 2019, unguaranteed residual values of USD 246 million (31 December 2018: USD 156 million) had been accrued and the ECL stage 3 allowance for uncollectible minimum lease payments receivable was USD 6 million (31 December 2018: USD 7 million) . No contingent rents were received in 2019. Amounts in the table below are disclosed on a gross basis. The finance lease receivabl es in Note 17a of USD 1,444 million are presented net of expected credit loss allowances. Lease receivables USD million 31.12.19 Total minimum lease payments Unearned finance income Present value 2020 448 31 417 2021–2024 874 52 822 Thereafter 221 6 215 Total 1,544 89 1,455 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, 2019 | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,447 12,367 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 326,786 309,499 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 22,980 21,953 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 576,815 558,420 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 583,159 564,765 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. |
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. Gross Total gross Sub-participations Net As of 31.12.19, USD million Measured at fair value Not measured at fair value Total guarantees 986 18,142 19,128 (2,646) 16,482 Loan commitments 6,308 27,547 33,856 (787) 33,069 Forward starting transactions 1 Reverse repurchase agreements 20,284 1,657 21,941 Repurchase agreements 7,740 408 8,148 As of 31.12.18, USD million Total guarantees 1,639 18,146 19,785 (2,803) 16,982 Loan commitments 3,535 31,212 34,747 (647) 34,099 Forward starting transactions 1 Reverse repurchase agreements 8,117 925 9,042 Securities borrowing agreements 12 12 Repurchase agreements 7,926 400 8,326 1 Cash to be paid in the future by either UBS or the counterparty. |
UBS AG [Member] | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,379 12,298 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 327,992 310,705 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 23,012 21,985 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 577,985 559,590 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,329 565,935 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. |
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. Gross Total gross Sub-participations Net As of 31.12.19, USD million Measured at fair value Not measured at fair value Total guarantees 986 18,142 19,128 (2,646) 16,482 Loan commitments 6,308 27,547 33,856 (787) 33,069 Forward starting transactions 1 Reverse repurchase agreements 20,284 1,657 21,941 Repurchase agreements 7,740 408 8,148 As of 31.12.18, USD million Total guarantees 1,639 18,146 19,785 (2,803) 16,982 Loan commitments 3,535 31,212 34,747 (647) 34,099 Forward starting transactions 1 Reverse repurchase agreements 8,117 925 9,042 Securities borrowing agreements 12 12 Repurchase agreements 7,926 400 8,326 1 Cash to be paid in the future by either UBS AG or the counterparty. |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 31.12.17 Base salaries and other cash payments 1 32 27 25 Incentive awards – cash 2 14 15 15 Annual incentive award under DCCP 21 22 22 Employer’s contributions to retirement benefit plans 3 3 3 Benefits in kind, fringe benefits (at market value) 1 2 2 Equity-based compensation 3 37 40 40 Total 108 109 106 Total (CHF million) 4 107 107 106 1 May include role-based allowances in line with market practice and 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 five years. Refer to Note 30 for more information. For GEB members, equity-based compensation for 2019 was entirely comprised of LTIP awards and equity-based compensation for 2018 and 2017 was entirely comprised of EOP awards. For the Chairman of the BoD the equity-based compensation for 2019, 2018 and 2017 was entirely comprised of UBS shares. 4 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2019: USD / CHF 0.99; 2018: USD / CHF 0.98; 2017: USD / CHF 1.00). The independent members of the BoD do not have employment 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 external board members amounted to USD 7.3 million (CHF 7. 3 milli on) in 201 9 , USD 7. 6 million (CHF 7. 4 million) in 201 8 and USD 7. 1 million (CHF 7. 1 million ) in 201 7 . b) Equity holdings of key management personnel Equity holdings of key management personnel 31.12.19 31.12.18 Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members 1 0 0 Number of shares held by members of the BoD, GEB and parties closely linked to them 2 6,887,826 5,954,967 1 Refer to Note 30 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. Of the share totals above, no shares were held by close family members of key management personnel on 31 December 201 9 and 95,597 shares were held by close family members of key management personnel on 31 December 201 8 . 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 2019 and 31 December 2018. Refer to Note 30 for more information. As of 31 December 2019, 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 management personnel The non-independent member s of the BoD and GEB members are granted l oans, 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 collectibi lity 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 2019 2018 Balance at the beginning of the year 34 42 Additions 9 15 Reductions (11) (22) Balance at the end of the year 2 33 34 Balance at the end of the year (CHF million) 2, 3 32 34 1 All loans are secured loans. 2 No unused uncommitted credit facilities as of 31 December 2019. Excludes unused uncommitted credit facilities for one GEB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018. 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 entiti es controlled by key management personnel In 2019 and 2018, 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 2019, 31 December 2018 and 31 December 2017, there were no outstanding balances related to such transactions. Furthermore, in 2019 and 2018, entities controlled by key management personnel did not sell any goods or provide an y services to UBS, and therefore did not receive any fees from UBS. UBS also did not provide services to such entities in 2019 and 2018, 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 2019 2018 Carrying amount at the beginning of the year 829 565 Additions 145 276 Reductions (5) (13) Foreign currency translation 13 0 Carrying amount at the end of the year 982 829 of which: unsecured loans 971 818 Other transactions with associates and joint ventures As of or for the year ended USD million 31.12.19 31.12.18 Payments to associates and joint ventures for goods and services received 124 177 Fees received for services provided to associates and joint ventures 1 4 Liabilities to associates and joint ventures 101 Commitments and contingent liabilities to associates and joint ventures 1,598 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 31.12.19 31.12.18 31.12.17 Base salaries and other cash payments 1 30 25 24 Incentive awards – cash 2 13 14 13 Annual incentive award under DCCP 20 21 20 Employer’s contributions to retirement benefit plans 2 3 3 Benefits in kind, fringe benefits (at market value) 1 2 2 Equity-based compensation 3 34 38 36 Total 101 102 98 Total (CHF million) 4 101 100 98 1 May include role-based allowances in line with market practice and 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 five years. Refer to Note 30 for more information. For EB members, equity-based compensation for 2019 was entirely comprised of LTIP awards and equity-based compensation for 2018 and 2017 was entirely comprised of EOP awards. For the Chairman of the BoD, the equity-based compensation for 2019, 2018 and 2017 was entirely comprised of UBS shares. 4 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2019: USD / CHF 0.99; 2018: USD / CHF 0.98; 2017: USD / CHF 1.00) 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. 3 million (CHF 7. 3 mi llion) in 201 9 , USD 7. 6 million (CHF 7. 4 million) in 201 8 and USD 7. 1 million (CHF 7. 1 million) in 201 7 . b) Equity holdings of key management personnel Equity holdings of key management personnel 31.12.19 31.12.18 Number of stock options from equity participation plans held by non-independent members of the BoD and the EB members 1 0 0 Number of shares held by members of the BoD, EB and parties closely linked to them 2 6,609,848 5,676,989 1 Refer to Note 30 for more information. 2 Excludes shares granted under variable compensation plans with forfeiture provisions. Of the share totals above, no shares were held by close family members of key management personnel on 31 December 2019 and 95,597 shares were h eld by close family members of key management personnel on 31 December 2018. 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 201 9 and 31 December 201 8 . Refer to Note 30 for more information. As of 31 December 201 9 , 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 collecti bility 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 2019 2018 Balance at the beginning of the year 28 34 Additions 6 15 Reductions (11) (22) Balance at the end of the year 2 23 28 Balance at the end of the year (CHF million) 2, 3 22 27 1 All loans are secured loans. 2 No unused uncommitted credit facilities as of 31 December 2019. Excludes unused uncommitted credit facilities for one EB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018. 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 entiti es controlled by key management personnel In 201 9 and 2018 , 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 December 201 9 , 31 December 201 8 and 31 December 201 7 , th ere were no outstanding balances related to such transactions. Furthermore, in 201 9 and 201 8 , entities controlled by key management personnel did not sell any goods or prov ide 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 2019 and 2018, 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 2019 2018 Carrying amount at the beginning of the year 829 565 Additions 145 276 Reductions (5) (13) Foreign currency translation 13 0 Carrying amount at the end of the year 982 829 of which: unsecured loans 971 818 Other transactions with associates and joint ventures As of or for the year ended USD million 31.12.19 31.12.18 Payments to associates and joint ventures for goods and services received 124 177 Fees received for services provided to associates and joint ventures 1 4 Liabilities to associates and joint ventures 101 Commitments and contingent liabilities to associates and joint ventures 1,598 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 31.12.19 31.12.18 Receivables Loans and advances to customers 1,255 1,161 Financial assets at fair value held for trading 180 139 Other financial assets measured at amortized cost 60 105 Payables Customer deposits 2,314 2,152 Funding from UBS Group AG and its subsidiaries 47,866 41,202 Other financial liabilities measured at amortized cost 1,829 1,711 Other financial liabilities designated at fair value 1 217 1 Represents funding recognized from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
Invested assets and net new mon
Invested assets and net new money | 12 Months Ended |
Dec. 31, 2019 | |
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 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 subsidiary or business. Reclassifications between invested assets and custody-only assets a s a result of a change in the service level delivered are generally treated as net new money flows . H owever, where the change in service level directly results from a n externally imposed regulation or from a strategic decision by UBS to exit a market or sp ecific service offering , the one-time net effect is reported as Other effects . 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 may produ ce 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 2019 and 2018. Invested assets and net new money As of or for the year ended USD billion 31.12.19 31.12.18 Fund assets managed by UBS 358 342 Discretionary assets 1,209 999 Other invested assets 2,040 1,760 Total invested assets 1 3,607 3,101 of which: double counts 248 213 Net new money 1 51 59 1 Includes double counts. Development of invested assets USD billion 2019 2018 Total invested assets at the beginning of the year 1 3,101 3,262 Net new money 51 59 Market movements 2 444 (180) Foreign currency translation 6 (35) Other effects 5 (5) of which: acquisitions / (divestments) (1) 7 Total invested assets at the end of the year 1 3,607 3,101 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 sec urities or 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 th e 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 th at 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 tha t 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 rev enue. Net 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. Ma rket 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 a ssets 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 the change in service level directly results from an externally imposed regulation or from a strategic decisio n by UBS AG to exit a market or specifi c service offering, the one-time net effect is reported as Other effects . 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 may produce 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 2019 and 2018. Invested assets and net new money As of or for the year ended USD billion 31.12.19 31.12.18 Fund assets managed by UBS 358 342 Discretionary assets 1,209 999 Other invested assets 2,040 1,760 Total invested assets 1 3,607 3,101 of which: double counts 248 213 Net new money 1 51 59 1 Includes double counts. Development of invested assets USD billion 2019 2018 Total invested assets at the beginning of the year 1 3,101 3,262 Net new money 51 59 Market movements 2 444 (180) Foreign currency translation 6 (35) Other effects 5 (5) of which: acquisitions / (divestments) (1) 7 Total invested assets at the end of the year 1 3,607 3,101 1 Includes double counts. 2 Includes interest and dividend income. |
Currency translation rates
Currency translation rates | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 31.12.19 31.12.18 31.12.17 1 CHF 1.03 1.02 1.01 1.02 1.02 1 EUR 1.12 1.15 1.12 1.18 1.14 1 GBP 1.32 1.28 1.28 1.33 1.30 100 JPY 0.92 0.91 0.92 0.91 0.89 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 31.12.19 31.12.18 31.12.19 31.12.18 31.12.17 1 CHF 1.03 1.02 1.01 1.02 1.02 1 EUR 1.12 1.15 1.12 1.18 1.14 1 GBP 1.32 1.28 1.28 1.33 1.30 100 JPY 0.92 0.91 0.92 0.91 0.89 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. |
Main differences between IFRS a
Main differences between IFRS and Swiss GAAP | 12 Months Ended |
Dec. 31, 2019 | |
Main Differences Between IFRS And Swiss GAAP [Line Items] | |
Disclosure of main differences between IFRS and Swiss GAAP [text block] | Note 38 Main differences between IFRS and Swiss GAAP The consolidated financial statements of UBS Group 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 IFR S 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 true and fair view financial statement reporting pursuant to a rticle 25 through a rticle 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 tha t 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 o r market value. 2. Classification and measurement of f inancial assets Under IFRS, debt instruments are measured at amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVT PL) , depending on the nature of the business model within which the asset is held and the characteristics of the contractual cash flows of the asset . E quity instruments are accounted for at FVTPL by UBS . Under Swiss GAAP, trading assets and derivatives are measured at FVTPL in line with IFRS. However, non-trading debt instruments are generally measured at amortized cost , even when the assets are managed on a fair value basis . In addition, t he measurement of financial assets in the form of securities depend s on the nature of the asset : d ebt instruments that are not held to maturity , i.e. instruments which are available for sale , as well as e quity instruments with no permanent holding intent, are classified as Financial investments and measured at the lower of (amortized) cos t 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 holdi ng intent are classified as participations in Non-consolidated investments in subsidiaries and other participations and are 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 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 amo unt 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 instruments , certain non- structured debt instruments , certain payables under repurchase agreements and cash collateral on securities lending agreements , amounts due under u nit-linked investment contracts, and brokerage payables . 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 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, financial gua rantees, 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 observed 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 occ urrence 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 even t 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 deteriora tion 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 measured at amortize d cost, a debt instrument available for sale measured 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 amount of a financial asset. For an off-balance sheet item, such as a commitment, a provision for credit loss es 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 fai r 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 a fair value hedge is defer red on the balance sheet as Other assets or Other liabilities . The carrying amount 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, good will acquired in a business 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 i ndefinite 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 . Pe n sion and other post-employment b enefit 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 plan s in UBS AG standalone financial statements and Swiss GAAP (FER 16) for the Swiss pe nsion plan in the UBS AG and the UBS Switzerland AG standalone financial statements. The requirements of Swiss GAAP are better aligned with the specific nature of Swiss pen sion 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 a s future salary increases and future interest credits on retirement savings, which are not considered under the static method used in accordance with Swiss GAAP. Also, the discount rate used to determine the defined benefit obligation in accordance with IF RS 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 t he expected returns of the Board’s investment strategy. For defined benefit plans, IFRS requires the full defined benefit obligation 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 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. Furthermore , Swiss GAAP requir es an assessment as to whether, 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 i n the balance sheet when conditions 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. Leasing Under IFRS, a single lease accounting model applies that requires UBS to record a right-of-use (RoU) asset and a corresponding lease liability on the balance sheet when UBS is a lessee in a lease arrangement. The RoU asset and the lease liability are recognized when UBS acquires control of the physical use of the asset. The lease liability is measured based on the present value of the lease payments over the lease term, discounted using UBS’s unsecured borrowing rate. The RoU asset is recorded at an amount equal to the lease liability but is adjusted for rent prepayments, initial direct costs, any costs to refurbish the leased asset and/ or lease incentives received. The RoU asset is depreciated over the shorter of the lease te rm or the useful life of the underlying asset. Under Swiss GAAP , 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. Whereas finance leases are recognized on the balance sheet and measured in line with IFRS, operating lease payments are recognized as General and administrative expenses on a straight-line basis over the lease term, which commences wi th control of the physical use of the asset. Lease incentives are treated as a reduction of rental expense and are recognized on a consistent basis over the lease term . 9 . Netting of replacement values Under IFRS, replacement values and related cash colla teral 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 legally enforceable, both in the normal course of busines s 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 settle 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, bankruptcy or insolvency of UBS’s counterparties. 10 . 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 liabilities are presented within interest expense and interest in come, 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. 11 . 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 participations and fixed assets, are classified as extraordinary items und er 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 38 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 s tatement reporting pursuant to article 25 through a rticle 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, debt instruments are measured at amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVT PL) , depending on the nature of the business model within which the asset is held and the characteristics of the contractual cash flows of the asset . E quity instruments are accounted for at FVTPL by UBS AG . Under Swiss GAAP, trading assets and derivatives are measured at FVTPL in line with IFRS. However, non-trading debt instruments are generally measured at amortized cost , even when the assets are managed on a fair value basis . In addition, t he measurement of financial assets in the form of securities depend s on the nature of the asset : d ebt instruments that are not held to maturity , i.e. instruments which are available for sale , as well as e quity instruments with no permanent holding intent, are classified as Financial investments and measured at the lower of (amortized) cos t 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 holdi ng intent are classified as participations in Non-consolidated investments in subsidiaries and other participations and are 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 , certai n non-structured debt instruments , certain payables under repurchase agreements and cash collateral on securities lending agreements , amounts due under u nit-linked investment contracts, and brokerage payables . Under Swiss GAAP, the fair value option can on ly 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 re cognized , 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, 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 observed subsequent to the instrument’s initial recognition. Lifetime ECL are also recognized for credit-imp aired 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 r esult of credit deterioration 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 measured at amortized cost, a debt instrument available for sale measured 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 repo rted as a decrease in the carrying amount of a financial asset. For an off-balance sheet item, such as a commitment, a provision for credit loss es is reported in Provisions . Changes to allowances and provisions for credit losses are recognized in Credit lo ss (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 accou nting 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 a f air value hedge is deferred on the balance sheet as Other assets or Other liabilities . The carrying amount 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 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 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 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 cre dits on retirement savings, which are not considered under the static method used 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 corporat e 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 str ategy. For defined benefit plans, IFRS requires the full defined benefit obligation 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 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 more , Swiss GAAP requires an assessment as to whether, 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 conditions 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 i s required to contribute to the reduction of a pension deficit (on an FER 26 basis). 8. Leasing Under IFRS, a single lease acco unting model applies that requires UBS AG to record a right-of-use (RoU) asset and a corresponding lease liability on the balance sheet when UBS AG is a lessee in a lease arrangement. The RoU asset and the lease liability are recognized when UBS AG acquire s control of the physical use of the asset. The lease liability is measured based on the present value of the lease payments over the lease term, discounted using UBS AG’s unsecured borrowing rate. The RoU asset is recorded at an amount equal to the lease liability but is adjusted for rent prepayments, initial direct costs, any costs to refurbish the leased asset and/or lease incentives received. The RoU asset is depreciated over the shorter of the lease term or the useful life of the underlying asset. Und er Swiss GAAP, 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. Whereas finance leases are recogni zed on the balance sheet and measured in line with IFRS, operating lease payments are recognized as General and administrative expenses on a straight-line basis over the lease term, which commences with control of the physical use of the asset. Lease incen tives are treated as a reduction of rental expense and are recognized on a consistent basis over the lease term. 9 . Netting of replacement values Under IFRS, replacement values and related cash collateral are reported on a gross basis unless the restrictiv e IFRS netting requirements are met: i) existence of master netting agreements and related collateral arrangements that are unconditional and legally enforceable, both in the normal course of business and in the event of default, bankruptcy or insolvency o f 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 simultaneously. Under Swiss GAAP, replacement values and related cash collateral are generally reported on a net ba sis, provided the master netting and the related collateral agreements are legally enforceable in the event of default, bankruptcy or insolvency of UBS AG ’s counterparties. 10 . 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 liabilities are presented within interest expense and interest income, respectively. Under Swiss GAAP, negative i nterest on financial assets is presented within interest income and negative interest on financial liabilities is presented within interest expense. 11 . 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 participations 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, 2019 | |
UBS AG | |
Supplemental Guarantor Information [Line Items] | |
Condensed Financial Information Of Parent Company Only Disclosure [Text Block] | Note 39 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 obligatio ns of UBS AG decreased in 2019 by USD 9 billion to USD 17 billion as of 31 December 2019 , mainly driven by contractual maturities and , to a le sser extent , early extinguishments of UBS AG liabilities which existed at the date of the asset transfer in the second quarter of 2015. 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 2019 Operating income 3 Interest income 8,966 4,104 5,380 (3,028) 15,421 Interest expense (9,472) (1,021) (3,583) 3,070 (11,006) Net interest income (506) 3,083 1,796 42 4,415 Other net income from financial instruments measured at fair value through profit or loss 5,116 924 1,114 (322) 6,833 Credit loss (expense) / recovery (51) 7 (33) 0 (78) Fee and commission income 3,285 4,342 12,527 (997) 19,156 Fee and commission expense (674) (819) (1,188) 986 (1,696) Net fee and commission income 2,610 3,523 11,338 (11) 17,460 Other income 4,962 259 1,960 (6,504) 677 Total operating income 12,131 7,796 16,176 (6,795) 29,307 Operating expenses Personnel expenses 3,251 1,936 8,614 0 13,801 General and administrative expenses 3,467 3,181 4,565 (2,627) 8,586 Depreciation and impairment of property, equipment and software 861 221 602 (108) 1,576 Amortization and impairment of goodwill and intangible assets 94 0 170 (88) 175 Total operating expenses 7,672 5,338 13,951 (2,823) 24,138 Operating profit / (loss) before tax 4,458 2,458 2,225 (3,972) 5,169 Tax expense / (benefit) 176 514 530 (21) 1,198 Net profit / (loss) 4,283 1,944 1,695 (3,951) 3,971 Net profit / (loss) attributable to non-controlling interests 0 0 6 0 6 Net profit / (loss) attributable to shareholders 4,283 1,944 1,689 (3,951) 3,965 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, as well as standalone information for other subsidiaries. 3 Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 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 2019 Comprehensive income attributable to shareholders Net profit / (loss) 4,283 1,944 1,689 (3,951) 3,965 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (12) 150 39 (85) 92 Financial assets measured at fair value through other comprehensive income, net of tax 0 0 117 0 117 Cash flow hedges, net of tax 870 140 147 (15) 1,143 Total other comprehensive income that may be reclassified to the income statement, net of tax 859 290 303 (100) 1,351 Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax (78) (6) (75) (11) (170) Own credit on financial liabilities designated at fair value, net of tax (392) (392) Total other comprehensive income that will not be reclassified to the income statement, net of tax (470) (6) (75) (11) (562) Total other comprehensive income 388 284 228 (111) 789 Total comprehensive income attributable to shareholders 4,671 2,228 1,917 (4,062) 4,754 Total comprehensive income attributable to non-controlling interests 2 2 Total comprehensive income 4,671 2,228 1,919 (4,062) 4,756 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, 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 December 2019 Assets Cash and balances at central banks 36,386 60,926 9,756 107,068 Loans and advances to banks 32,888 7,992 17,430 (45,931) 12,379 Receivables from securities financing transactions 56,946 12,536 42,534 (27,771) 84,245 Cash collateral receivables on derivative instruments 22,830 990 8,508 (9,038) 23,289 Loans and advances to customers 88,386 193,543 63,676 (17,612) 327,992 Other financial assets measured at amortized cost 5,723 8,168 11,448 (2,327) 23,012 Total financial assets measured at amortized cost 243,159 284,154 153,351 (102,679) 577,985 Financial assets at fair value held for trading 113,802 53 15,320 (1,479) 127,695 of which: assets pledged as collateral that may be sold or repledged by counterparties 58,599 0 5,386 (22,701) 41,285 Derivative financial instruments 118,708 4,251 29,782 (30,899) 121,843 Brokerage receivables 11,453 6,556 (1) 18,007 Financial assets at fair value not held for trading 49,525 6,701 41,908 (14,498) 83,636 Total financial assets measured at fair value through profit or loss 293,488 11,004 93,565 (46,877) 351,181 Financial assets measured at fair value through other comprehensive income 176 6,169 6,345 Investments in subsidiaries and associates 51,212 28 39 (50,227) 1,051 Property, equipment and software 3 7,318 1,144 3,749 (385) 11,826 Goodwill and intangible assets 222 6,212 35 6,469 Deferred tax assets 618 0 8,895 9,513 Other non-financial assets 5,060 1,770 857 (140) 7,547 Total assets 601,252 298,101 272,837 (200,273) 971,916 Liabilities Amounts due to banks 55,738 28,240 35,773 (113,181) 6,570 Payables from securities financing transactions 21,326 565 13,583 (27,696) 7,778 Cash collateral payables on derivative instruments 30,571 98 9,773 (9,027) 31,416 Customer deposits 85,954 239,226 86,550 38,861 450,591 Funding from UBS Group AG and its subsidiaries 4 47,866 47,866 Debt issued measured at amortized cost 54,317 8,583 5 (70) 62,835 Other financial liabilities measured at amortized cost 3 5,345 2,666 5,204 (2,842) 10,373 Total financial liabilities measured at amortized cost 301,117 279,379 150,888 (113,954) 617,429 Financial liabilities at fair value held for trading 25,292 383 6,233 (1,317) 30,591 Derivative financial instruments 117,597 4,046 30,089 (30,852) 120,880 Brokerage payables designated at fair value 25,358 11,877 (3) 37,233 Debt issued designated at fair value 65,677 952 (38) 66,592 Other financial liabilities designated at fair value 8,571 31,031 (3,445) 36,157 Total financial liabilities measured at fair value through profit or loss 242,495 4,429 80,184 (35,655) 291,452 Provisions 1,101 196 1,641 2,938 Other non-financial liabilities 1,644 931 3,559 34 6,168 Total liabilities 546,357 284,936 236,271 (149,576) 917,988 Equity attributable to shareholders 54,895 13,165 36,391 (50,697) 53,754 Equity attributable to non-controlling interests 174 174 Total equity 54,895 13,165 36,566 (50,697) 53,928 Total liabilities and equity 601,252 298,101 272,837 (200,273) 971,916 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, as well as standalone information for other subsidiaries. 3 Includes the effects of the adoption of IFRS 16, Leases, as of 1 January 2019. Refer to Note 1 for more information. 4 Represents funding from UBS Group AG to UBS AG. 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 2019 Net cash flow from / (used in) operating activities 17,531 8,882 (7,608) 18,805 Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets (6) 0 (20) (26) Disposal of subsidiaries, associates and intangible assets 2 100 0 14 114 Purchase of property, equipment and software (628) (173) (600) (1,401) Disposal of property, equipment and software 10 0 1 11 Purchase of financial assets measured at fair value through other comprehensive income (10) 0 (3,414) (3,424) Disposal and redemption of financial assets measured at fair value through other comprehensive income 10 0 3,904 3,913 Net (purchase) / redemption of debt securities measured at amortized cost (1,045) 437 45 (562) Net cash flow from / (used in) investing activities (1,569) 264 (70) (1,374) Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) (17,150) 0 0 (17,149) Distributions paid on UBS shares (3,250) 0 0 (3,250) Repayment of lease liabilities (262) 0 (234) (496) Issuance of long-term debt, including debt issued designated at fair value 58,437 621 142 59,199 Repayment of long-term debt, including debt issued designated at fair value (67,113) (752) (1,017) (68,883) Funding from UBS Group AG and its subsidiaries 3 5,848 0 0 5,848 Net changes in non-controlling interests 0 0 (8) (8) Net activity related to group internal capital transactions and dividends 3,569 (2,055) (1,514) 0 Net cash flow from / (used in) financing activities (19,922) (2,186) (2,630) (24,738) Total cash flow Cash and cash equivalents at the beginning of the year 42,895 54,757 28,201 125,853 Net cash flow from / (used in) operating, investing and financing activities (3,960) 6,961 (10,308) (7,307) Effects of exchange rate differences on cash and cash equivalents 664 833 (239) 1,258 Cash and cash equivalents at the end of the year 4 39,598 62,551 17,655 119,804 of which: cash and balances at central banks 36,275 60,926 9,756 106,957 of which: loans and advances to banks 2,697 1,127 7,493 11,317 of which: money market paper 5 626 498 406 1,530 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends. 2 Includes dividends received from associates. 3 Represents funding from UBS Group AG to UBS AG. 4 Comprises balances with an original maturity of three months or less. USD 3,192 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 2018 Operating income 3 Interest income 8,176 4,263 5,308 (2,960) 14,787 Interest expense (8,673) (901) (3,240) 2,998 (9,815) Net interest income (497) 3,363 2,068 38 4,971 Other net income from financial instruments measured at fair value through profit or loss 5,204 889 970 (110) 6,953 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) (1,108) 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 goodwill and 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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. 3 Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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 December 2018 Assets Cash and balances at central banks 36,350 53,490 18,530 108,370 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 6,495 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 3 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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. 3 Represents funding from UBS Group Funding (Switzerland) AG to UBS AG. 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 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 4 5,956 0 0 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 5 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 6 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 of the Annual Report 2018 for more information. 2 Cash flows generally represent a third-party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends. 3 Includes dividends received from associates. 4 Represents funding from UBS Group Funding (Switzerland) AG to UBS AG. 5 Comprises balances with an original maturity of three months or less. USD 5,245 million of cash and cash equivalents were restricted. 6 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 3 Interest income 7,219 4,063 3,774 (2,338) 12,717 Interest expense (6,101) (680) (2,161) 2,245 (6,696) Net interest income 1,118 3,383 1,613 (93) 6,021 Other net income from financial instruments measured at fair value through profit or loss 3,821 918 836 64 5,640 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 4,387 172 3,022 (6,616) 965 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 goodwill and 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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. 3 Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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 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 3 11,180 0 0 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 4 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 5 1,806 7 280 2,093 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends. 2 Includes dividends received from associates. 3 Represents funding from UBS Group Funding (Switzerland) AG to UBS AG. 4 Comprises balances with an original maturity of three months or less. USD 2,497 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. |
MD&A - Risk management and cont
MD&A - Risk management and control | 12 Months Ended |
Dec. 31, 2019 | |
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 ( the BoD) is responsible for approving the risk management and control framework of the Group, including the overall risk appetite of the Group and business divisio ns . The BoD is supported by the BoD Risk Committee, which monitors and 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 safeguard and advance the G roup’s reputation for responsible and sustainable conduct. It reviews stakeholder concerns and expectations pertaining to UBS’s societal contribution and corporate culture. The Audit Committee supports the BoD in fulfilling its oversight duty relating to financial reporting and internal controls over financial reporting, the effectiveness of the external and internal audit functions, and the effectiveness of whistleblowing procedures. The Group Executive Board ( the GEB) has overall responsibility for estab lishing 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 ( the 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. The business division Presidents are responsible for the success, risks, results and value of their business division. This includes controlling and administering the dedicated financial resources and risk appetite of the business division . The regional Presidents facilitate 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 ( the Group CRO) is responsible for the development of the Group ’ s risk management and control framework (including risk principles and risk appetite) for credit, market, country, liquidity, funding, model , and environmental and social risk s . This includes risk measurement and aggregation, portfolio controls and risk reporting. The Group CRO is responsible for setting risk limits and approving credit and market risk transactions and exposures. Risk Control is also the central function for model risk management and control for all models used in the firm. The risk control process is supported by a framework of policies and authorities. The b usiness division CROs are responsible for the implementation and enforcement of the risk management and control framework within their business division. The regional Chief Risk Officers provide independent oversight of risks within their region. The Group Chief Compliance and Governance Officer is responsible for ensuring that all operational risks, including compliance and conduct risk s, as well as cyber and information security risks , are identified, owned a nd managed according to the firm’s risk appetite, supported by an effective control framework. The Group Chief Financial Officer ( the Group CFO) is responsible for transparency in and assessing the financial performance of the Group and the b usiness d ivisions, and for managing the Group ’ s financial accounting, controlling , forecasting, planning and reporting processes in line with regulatory and financial reporting requirements, corporate governance standards and global best practice to maintain high q uality and timeliness . Additional responsibilities include managing UBS’s tax affairs, as well as treasury and capital management, including funding and liquidity risk and UBS’s regulatory capital ratios. The Group General Counsel ( the Group GC) is respon sible for managing the Group’ s legal affairs and ensuring effective and timely assessment of legal matters impacting the Group or its businesses, and for the management and reporting of all litigation matters . Group Internal Audit (GIA) independently asses ses the effectiveness of processes to define strategy and risk appetite, as well as overall adherence to the approved strategy and the effectiveness of governance processes and of risk management at Group, business division and regional levels, including c ompliance with legal and regulatory requirements, as well as with internal policies , constitutional documents and contracts. The Head GIA reports to the Chairman of the BoD and, in addition, GIA has a functional reporting line to the BoD Audit Committee. S ome of the above roles and responsibilities are replicated for certain significant legal entities of the Group. The legal entity risk officers 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 management and control framework . Audited | We apply a variety of methodologies and measurements to quantify 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 o f specific transactions and the application of specific restrictions. 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 ( the BoD) is responsible for approving the risk management and control framework of the Group, including the overall risk appetite of the Group and business divisio ns . The BoD is supported by the BoD Risk Committee, which monitors and 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 safeguard and advance the G roup’s reputation for responsible and sustainable conduct. It reviews stakeholder concerns and expectations pertaining to UBS’s societal contribution and corporate culture. The Audit Committee supports the BoD in fulfilling its oversight duty relating to financial reporting and internal controls over financial reporting, the effectiveness of the external and internal audit functions, and the effectiveness of whistleblowing procedures. The Group Executive Board ( the GEB) has overall responsibility for estab lishing 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 ( the 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. The business division Presidents are responsible for the success, risks, results and value of their business division. This includes controlling and administering the dedicated financial resources and risk appetite of the business division . The regional Presidents facilitate 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 ( the Group CRO) is responsible for the development of the Group ’ s risk management and control framework (including risk principles and risk appetite) for credit, market, country, liquidity, funding, model , and environmental and social risk s . This includes risk measurement and aggregation, portfolio controls and risk reporting. The Group CRO is responsible for setting risk limits and approving credit and market risk transactions and exposures. Risk Control is also the central function for model risk management and control for all models used in the firm. The risk control process is supported by a framework of policies and authorities. The b usiness division CROs are responsible for the implementation and enforcement of the risk management and control framework within their business division. The regional Chief Risk Officers provide independent oversight of risks within their region. The Group Chief Compliance and Governance Officer is responsible for ensuring that all operational risks, including compliance and conduct risk s, as well as cyber and information security risks , are identified, owned a nd managed according to the firm’s risk appetite, supported by an effective control framework. The Group Chief Financial Officer ( the Group CFO) is responsible for transparency in and assessing the financial performance of the Group and the b usiness d ivisions, and for managing the Group ’ s financial accounting, controlling , forecasting, planning and reporting processes in line with regulatory and financial reporting requirements, corporate governance standards and global best practice to maintain high q uality and timeliness . Additional responsibilities include managing UBS’s tax affairs, as well as treasury and capital management, including funding and liquidity risk and UBS’s regulatory capital ratios. The Group General Counsel ( the Group GC) is respon sible for managing the Group’ s legal affairs and ensuring effective and timely assessment of legal matters impacting the Group or its businesses, and for the management and reporting of all litigation matters . Group Internal Audit (GIA) independently asses ses the effectiveness of processes to define strategy and risk appetite, as well as overall adherence to the approved strategy and the effectiveness of governance processes and of risk management at Group, business division and regional levels, including c ompliance with legal and regulatory requirements, as well as with internal policies , constitutional documents and contracts. The Head GIA reports to the Chairman of the BoD and, in addition, GIA has a functional reporting line to the BoD Audit Committee. S ome of the above roles and responsibilities are replicated for certain significant legal entities of the Group. The legal entity risk officers 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 management and control framework . Audited | We apply a variety of methodologies and measurements to quantify 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 o f specific transactions and the application of specific restrictions. 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, 2019 | |
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 mortgage loans , secured mainly by residential properties and income-producing real estate , as well as corporate loans, and therefore depends on the performa nce of the Swiss economy. – Within the Investment Bank, our credit exposure arises mainly from lending, derivatives trading and securities financing . Derivatives trading and securities financing are predominantly investment grade. Loan 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 (Lombard) lending and mortgage lending. – Credit risk within Non-core and Legacy Portfolio in Corporate Center 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 individua l counterparties 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 we ll as settlement amounts. Risk control authorities are approved by the Board of Directors , and are delegated to the Group Chief Executive Officer, the Group Chief Risk Officer and divisional Chief Risk Officers based on risk exposure amounts , internal cred it rating and 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 dis tinguishes between 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 expected loss, statistical loss and stress loss at the Group-wide and business division levels and to establish portfolio limits at these levels. – Credit risk concentrations can arise if clients are engaged in similar activities, are located in the same geographical 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 the portfolio and sub-portfolio levels with regard to sector exposure, country risk and specific product exposures. Audited | We 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) ; exposure at default (EAD) ; and loss given default (LGD) . For a given credit facility, the product of these three parameter s results in the expected loss. These parameters are the basis for the majority of our internal measures of credit risk, and are key inputs for the regulatory capital calculation under the advanced internal ratings-based (A-IRB) approach of the Basel III f ramework governing international convergence of capital measurement and standards . We also use models to derive the portfolio credit risk 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 proceeding s, where preferential conditions concerning interest rates, subordination, tenor , 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 a ny form, even if there is sufficient collateral to cover the due payment Default and credit-impaired UBS applies a singl e 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 is classified as defaulted at the latest when mate rial 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 Mana gement Region Switzerland. UBS does not consider the general 90-day presumption for default recognition appropriate for those 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 restructured on preferential terms (forbearance); or th ere 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 one claim against a counterparty is defaulted on , generally all claims against the counterparty are treated as defaulted. An instrument is classified as credit-impaired if the counterparty is classified as defaulted, and/or the instrument is identified as purchased or originated credit-impaired (POCI). An instrument is POCI if it has been purchased a t a deep 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 POCI), it i s 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 t hree-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 already 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 off ering preferential interest rates, extending 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 as de fault ed . Forbearance classification 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 tolerance . Contractual adjustments when there is no evidence of imminent payment default, or where changes to terms and conditions are within our usual risk tolerance , are not considered to be forborne. |
UBS AG | |
Disclosure MDA Risk Management And Control Credit Risk [Line Items] | |
Disclosure Of Credit Risk Explanatory | 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 Audited | Main sources of credit risk – A substantial portion of our lending exposure arises from our Swiss domestic business, which offers mortgage loans , secured mainly by residential properties and income-producing real estate , as well as corporate loans, and therefore depends on the performa nce of the Swiss economy. – Within the Investment Bank, our credit exposure arises mainly from lending, derivatives trading and securities financing . Derivatives trading and securities financing are predominantly investment grade. Loan 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 (Lombard) lending and mortgage lending. – Credit risk within Non-core and Legacy Portfolio in Corporate Center 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 individua l counterparties 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 we ll as settlement amounts. Risk control authorities are approved by the Board of Directors , and are delegated to the Group Chief Executive Officer, the Group Chief Risk Officer and divisional Chief Risk Officers based on risk exposure amounts , internal cred it rating and 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 dis tinguishes between 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 expected loss, statistical loss and stress loss at the Group-wide and business division levels and to establish portfolio limits at these levels. – Credit risk concentrations can arise if clients are engaged in similar activities, are located in the same geographical 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 the portfolio and sub-portfolio levels with regard to sector exposure, country risk and specific product exposures. Audited | We 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) ; exposure at default (EAD) ; and loss given default (LGD) . For a given credit facility, the product of these three parameter s results in the expected loss. These parameters are the basis for the majority of our internal measures of credit risk, and are key inputs for the regulatory capital calculation under the advanced internal ratings-based (A-IRB) approach of the Basel III f ramework governing international convergence of capital measurement and standards . We also use models to derive the portfolio credit risk measures of expected loss, statistical loss and stress loss. |
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 proceeding s, where preferential conditions concerning interest rates, subordination, tenor , 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 a ny form, even if there is sufficient collateral to cover the due payment Default and credit-impaired UBS applies a singl e 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 is classified as defaulted at the latest when mate rial 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 Mana gement Region Switzerland. UBS does not consider the general 90-day presumption for default recognition appropriate for those 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 restructured on preferential terms (forbearance); or th ere 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 one claim against a counterparty is defaulted on , generally all claims against the counterparty are treated as defaulted. An instrument is classified as credit-impaired if the counterparty is classified as defaulted, and/or the instrument is identified as purchased or originated credit-impaired (POCI). An instrument is POCI if it has been purchased a t a deep 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 POCI), it i s 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 t hree-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 already 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 off ering preferential interest rates, extending 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 as de fault ed . Forbearance classification 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 tolerance . Contractual adjustments when there is no evidence of imminent payment default, or where changes to terms and conditions are within our usual risk tolerance , 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, 2019 | |
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, securities and derivatives trading for market-making and client facilitation within our Investment Bank, as well as the remaining positions within Non-core and Legacy Portfolio in Corporate Center and our municipal securities trading business within Globa l Wealth Management. – Non-trading market risk s arise 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 Sw itzerland and the Investment Bank’s lending business, in addition to treasury activities. – Group Treasury assumes market risks in the process of managing interest rate risk, structural foreign exchange risk and the 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 , Group Treasury and Non- c ore and Legacy Portfolio at granular levels within the various business lines, reflecting the nature and magnitude of the market risks. – Management VaR meas ures 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 Risk Control as set out fur ther 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 ( the BoD). – These measures are comple mented 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, available 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 transactions, transaction expir ies 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 li mits 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 under market risk limit s, with the exception of Group Treasury 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 i s 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 mo vements 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 sub ject 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 ri sk appetite framework. Audited | IRRBB arises from balance sheet positions such as Loans and advances to banks , Loans and advances to customers , Financial as sets at fair value not held for trading , Financial assets measured at amortized cost , Customer deposits , Debt issued measured at amortized cost , and derivatives, including those used for cash flow hedge accounting purposes. These positions may affect other comprehensive income (OCI) or the income statement, depending on their accounting treatment. Our largest banking book interest rate exposures arise from customer deposits and lending products in Global Wealth Management and Personal & Corporate Banking. T he inherent interest rate risks are generally transferred from Global Wealth Management and Personal & Corporate Banking to Group Treasury, to manage them centrally within Corporate Center. This allows for the netting of interest rate risks across differen t sources, while leaving the originating businesses with commercial margin and volume management. The residual interest rate risk is mainly hedged with interest rate swaps, to the vast majority of which we apply hedge accounting. Short-term exposures and h igh-quality liquid assets classified as Financial assets at fair value not held for trading are hedged with derivatives accounted for on a mark-to-market basis. Long-term fixed-rate debt issued is hedged with interest rate swaps designated in fair value he dge accounting relationships. Risk management and governance IRRBB is measured using a number of metrics, the most relevant of which are the following: – Interest rate sensitivities to parallel shifts in yield curves, calculated as changes in the present value of future cash flows irrespective of accounting treatment. These are also the key risk factors for statistical and stress-based measures, such as value-at-risk and stress scenarios (including EVE sensitivity ), and are measured and reported with a daily frequency. EVE sensitivity is the exposure arising from the most adverse regulatory interest rate scenario after netting across currencies. In addition to the regulatory measure, we appl y an internal EVE sensitivity metric that includes equity, goodwill, real estate and additional tier 1 (AT1) capital instruments. – Net interest income (NII) sensitivity assesses the change in NII over a set time horizon compared with the baseline NII, which we internally calculate by assuming that interest rates in all currencies develop according to their market-implied forward rates and under the assumption of constant business volumes and no specific management actions. The internal NII sensitivity, which includes the contribution from cash held at central bank s , unlike the Pillar 3 disclosure requirements, is measured and reported on a monthly basis. We actively manage IRRBB, with the objective of reducing the volatility of NII, while keeping the EVE sensitivity within set internal risk limits. EVE and NII sensitivity are monitored against limits and triggers, both at consolidated and at significant legal entity levels. We also assess the sensitivity of EVE and NII under stressed market conditions by applying a suite of parallel and non-parallel interest rate scenarios, as well as specific economic scenarios. The Interest Rate Risk in the Banking Book Strategy Committee, which is a sub-committee of the Group Asset and Liability Committee (ALCO), and, where relevant, ALCOs at a legal entity level, perform independent oversight over the management of IRRBB. IRRBB is also subject to Group Internal Audit and model governance. Refer to “Group Internal Audit” in the “Corporate governance” section of this report and to “Risk measurement” in this section for more information Key modeling assumptions The cash flows from customer deposits and lending products used in the calculation of EVE sensitivity exclude commercial margins and other spread components, are aggregated for each business day and are discounted using risk-free rates. Our external issuances are discounted using UBS’s senior debt curve, and capital instruments are modeled to the first call date. NII sensitivity is calculated over a one-year t ime horizo n, assuming constant balance sheet structure and volumes , and considers the flooring effect of embedded interest rate options . The average repricing maturity of non-maturing deposits and loans is determined via replication portfolio strategies th at are designed to protect product margin. Optimal replicating portfolios are determined at a granular currency- and product-specific level by simulating and applying a real-world market rate model to historically calibrated client rate and volume models. We use an econometric prepayment model to forecast prepayment rates on US mortgage loans in UBS Bank USA, as well as agency mortgage-backed securities (MBSs) held in various liquidity portfolios of UBS Americas Holding LLC consolidated. These prepayment ra tes are used to forecast both mortgage loan and MBS balances under various macroeconomic scenarios. The prepayment model is used for a variety of purposes, including risk management and regulatory stress testing. Mortgages in Switzerland and f ixed -t erm dep osits generally do not carry similar optionality, due to prepayment and early redemption penalties. |
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 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) of our business divisions and Corporate Center by general market risk type 1 For the year ended 31.12.19 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 2 6 3 2 1 Max. 14 12 8 8 6 Average 6 9 5 3 2 31.12.19 5 8 5 3 3 Total management VaR, Group 6 18 11 9 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 17 9 7 6 7 4 3 2 Corporate Center 4 8 5 5 1 5 2 1 0 Diversification effect 2,3 (5) (4) (1) (4) (2) (1) 0 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 Corporate Center 4 7 5 6 1 4 2 1 0 Diversification effect 2,3 (5) (5) (1) (4) (3) (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 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 i s subject to a regulatory threshold of 15% of tier 1 capital to identify outlier banks. The exposure is calculated as the theoretical change in the present value of the banking book under the most adverse of the six FINMA interest rate scenarios. As of 31 De ce mber 2019, the interest rate sensitivity of our banking book to a +1-basis-point parallel shift in yield curves was negative USD 25.1 million . The reported interest rate sensitivity excludes the AT1 capital instruments , as per FINMA Pillar 3 disclosure requirements , and our equity, goodwill and real estate with a modeled sensitivity of approximately USD 4 million per basis point in Swiss francs and USD 15 million per basis point in US dollars. The most adverse of the six FINMA interest rate scenarios with regard to EVE was the “Parallel up” scenario, resulting in a change of the e conomic value of equity of negative USD 5.0 billion, representing a pro forma reduction of 9.6 % of tier 1 capital, which is well below the regulatory outlier test of 15% of ti er 1 capital. The immediate effect of the “Parallel up” scenario on tier 1 capital as of 31 De ce mber 2019 would be a reduction of 1.3%, or USD 0.7 billion, arising from the part of our banking book that is measured at fair value through profit or loss and from the financial assets measured at fair value through other comprehensive income. This scenario would , however , have had a positive effect on net interest income. Interest rate risk – banking book USD million +1 bp Parallel up 1 Parallel down 1 Steepener 2 Flattener 3 Short-term up 4 Short-term down 5 CHF (3.3) (463.1) 519.6 (235.7) 143.9 (44.7) 47.6 EUR (0.4) (73.6) 79.3 (5.3) (7.3) (28.0) 29.5 GBP 0.1 8.9 (23.0) (6.7) 6.4 11.5 (11.0) USD (20.8) (4,317.5) 3,570.0 (566.9) (450.5) (2,019.7) 2,132.4 Other (0.8) (157.9) 169.9 (1.4) (29.8) (85.0) 93.5 Total effect on economic value of equity as per Pillar 3 requirement as of 31.12.19 (25.1) (5,003.2) 4,315.9 (816.1) (337.2) (2,166.0) 2,292.0 Additional tier 1 (AT1) capital instruments 5.0 954.3 (1,024.6) (42.2) 253.5 610.8 (638.5) Total including AT1 capital instruments as of 31.12.19 (20.1) (4,048.9) 3,291.2 (858.3) (83.7) (1,555.2) 1,653.5 1 Rates across all tenors move by ±150 bps for Swiss franc, ±200 bps for euro and US dollar and ±250 bps for pound sterling. 2 Short-term rates decrease and long-term rates increase. 3 Short-term rates increase and long-term rates decrease. 4 Short-term rates increase more than long-term rates. 5 Short-term rates decrease more than long-term rates. Audited | Under International Financial Reporting Standards (IFRS) effective on 31 December 2019 , equity investments not in the trading book may be classified as Financial assets at fair va lue not held for trading or Investments in associates . The fair value of equity investments tends to be influenced by factors specific to the individual investments. 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. However, suc h 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. They are als o included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. As of 31 December 2019 , we held equity investments totaling USD 2.4 billion, of which USD 1. 3 billion was classified as Financial 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 2019 were measured at fair value with changes in fair value recorded through Equity , and can broadly be categoriz ed 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 the 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 stress tes ting 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 6.3 billion as of 31 December 2019 compared with USD 6.7 billion as of 31 December 2018. |
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, securities and derivatives trading for market-making and client facilitation within our Investment Bank, as well as the remaining positions within Non-core and Legacy Portfolio in Corporate Center and our municipal securities trading business within Globa l Wealth Management. – Non-trading market risk s arise 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 Sw itzerland and the Investment Bank’s lending business, in addition to treasury activities. – Group Treasury assumes market risks in the process of managing interest rate risk, structural foreign exchange risk and the 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 , Group Treasury and Non- c ore and Legacy Portfolio at granular levels within the various business lines, reflecting the nature and magnitude of the market risks. – Management VaR meas ures 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 Risk Control as set out fur ther 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 ( the BoD). – These measures are comple mented 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, available 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 transactions, transaction expir ies 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 li mits 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 under market risk limit s, with the exception of Group Treasury 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 i s 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 mo vements 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 sub ject 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 ri sk appetite framework. Audited | IRRBB arises from balance sheet positions such as Loans and advances to banks , Loans and advances to customers , Financial as sets at fair value not held for trading , Financial assets measured at amortized cost , Customer deposits , Debt issued measured at amortized cost , and derivatives, including those used for cash flow hedge accounting purposes. These positions may affect other comprehensive income (OCI) or the income statement, depending on their accounting treatment. Our largest banking book interest rate exposures arise from customer deposits and lending products in Global Wealth Management and Personal & Corporate Banking. T he inherent interest rate risks are generally transferred from Global Wealth Management and Personal & Corporate Banking to Group Treasury, to manage them centrally within Corporate Center. This allows for the netting of interest rate risks across differen t sources, while leaving the originating businesses with commercial margin and volume management. The residual interest rate risk is mainly hedged with interest rate swaps, to the vast majority of which we apply hedge accounting. Short-term exposures and h igh-quality liquid assets classified as Financial assets at fair value not held for trading are hedged with derivatives accounted for on a mark-to-market basis. Long-term fixed-rate debt issued is hedged with interest rate swaps designated in fair value he dge accounting relationships. Risk management and governance IRRBB is measured using a number of metrics, the most relevant of which are the following: – Interest rate sensitivities to parallel shifts in yield curves, calculated as changes in the present value of future cash flows irrespective of accounting treatment. These are also the key risk factors for statistical and stress-based measures, such as value-at-risk and stress scenarios (including EVE sensitivity ), and are measured and reported with a daily frequency. EVE sensitivity is the exposure arising from the most adverse regulatory interest rate scenario after netting across currencies. In addition to the regulatory measure, we appl y an internal EVE sensitivity metric that includes equity, goodwill, real estate and additional tier 1 (AT1) capital instruments. – Net interest income (NII) sensitivity assesses the change in NII over a set time horizon compared with the baseline NII, which we internally calculate by assuming that interest rates in all currencies develop according to their market-implied forward rates and under the assumption of constant business volumes and no specific management actions. The internal NII sensitivity, which includes the contribution from cash held at central bank s , unlike the Pillar 3 disclosure requirements, is measured and reported on a monthly basis. We actively manage IRRBB, with the objective of reducing the volatility of NII, while keeping the EVE sensitivity within set internal risk limits. EVE and NII sensitivity are monitored against limits and triggers, both at consolidated and at significant legal entity levels. We also assess the sensitivity of EVE and NII under stressed market conditions by applying a suite of parallel and non-parallel interest rate scenarios, as well as specific economic scenarios. The Interest Rate Risk in the Banking Book Strategy Committee, which is a sub-committee of the Group Asset and Liability Committee (ALCO), and, where relevant, ALCOs at a legal entity level, perform independent oversight over the management of IRRBB. IRRBB is also subject to Group Internal Audit and model governance. Refer to “Group Internal Audit” in the “Corporate governance” section of this report and to “Risk measurement” in this section for more information Key modeling assumptions The cash flows from customer deposits and lending products used in the calculation of EVE sensitivity exclude commercial margins and other spread components, are aggregated for each business day and are discounted using risk-free rates. Our external issuances are discounted using UBS’s senior debt curve, and capital instruments are modeled to the first call date. NII sensitivity is calculated over a one-year t ime horizo n, assuming constant balance sheet structure and volumes , and considers the flooring effect of embedded interest rate options . The average repricing maturity of non-maturing deposits and loans is determined via replication portfolio strategies th at are designed to protect product margin. Optimal replicating portfolios are determined at a granular currency- and product-specific level by simulating and applying a real-world market rate model to historically calibrated client rate and volume models. We use an econometric prepayment model to forecast prepayment rates on US mortgage loans in UBS Bank USA, as well as agency mortgage-backed securities (MBSs) held in various liquidity portfolios of UBS Americas Holding LLC consolidated. These prepayment ra tes are used to forecast both mortgage loan and MBS balances under various macroeconomic scenarios. The prepayment model is used for a variety of purposes, including risk management and regulatory stress testing. Mortgages in Switzerland and f ixed -t erm dep osits generally do not carry similar optionality, due to prepayment and early redemption penalties. |
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 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) of our business divisions and Corporate Center by general market risk type 1 For the year ended 31.12.19 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 2 6 3 2 1 Max. 14 12 8 8 6 Average 6 9 5 3 2 31.12.19 5 8 5 3 3 Total management VaR, Group 6 18 11 9 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 17 9 7 6 7 4 3 2 Corporate Center 4 8 5 5 1 5 2 1 0 Diversification effect 2,3 (5) (4) (1) (4) (2) (1) 0 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 Corporate Center 4 7 5 6 1 4 2 1 0 Diversification effect 2,3 (5) (5) (1) (4) (3) (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 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 i s subject to a regulatory threshold of 15% of tier 1 capital to identify outlier banks. The exposure is calculated as the theoretical change in the present value of the banking book under the most adverse of the six FINMA interest rate scenarios. As of 31 De ce mber 2019, the interest rate sensitivity of our banking book to a +1-basis-point parallel shift in yield curves was negative USD 25.1 million . The reported interest rate sensitivity excludes the AT1 capital instruments , as per FINMA Pillar 3 disclosure requirements , and our equity, goodwill and real estate with a modeled sensitivity of approximately USD 4 million per basis point in Swiss francs and USD 15 million per basis point in US dollars. The most adverse of the six FINMA interest rate scenarios with regard to EVE was the “Parallel up” scenario, resulting in a change of the e conomic value of equity of negative USD 5.0 billion, representing a pro forma reduction of 9.6 % of tier 1 capital, which is well below the regulatory outlier test of 15% of ti er 1 capital. The immediate effect of the “Parallel up” scenario on tier 1 capital as of 31 De ce mber 2019 would be a reduction of 1.3%, or USD 0.7 billion, arising from the part of our banking book that is measured at fair value through profit or loss and from the financial assets measured at fair value through other comprehensive income. This scenario would , however , have had a positive effect on net interest income. Interest rate risk – banking book USD million +1 bp Parallel up 1 Parallel down 1 Steepener 2 Flattener 3 Short-term up 4 Short-term down 5 CHF (3.3) (463.1) 519.6 (235.7) 143.9 (44.7) 47.6 EUR (0.4) (73.6) 79.3 (5.3) (7.3) (28.0) 29.5 GBP 0.1 8.9 (23.0) (6.7) 6.4 11.5 (11.0) USD (20.8) (4,317.5) 3,570.0 (566.9) (450.5) (2,019.7) 2,132.4 Other (0.8) (157.9) 169.9 (1.4) (29.8) (85.0) 93.5 Total effect on economic value of equity as per Pillar 3 requirement as of 31.12.19 (25.1) (5,003.2) 4,315.9 (816.1) (337.2) (2,166.0) 2,292.0 Additional tier 1 (AT1) capital instruments 5.0 954.3 (1,024.6) (42.2) 253.5 610.8 (638.5) Total including AT1 capital instruments as of 31.12.19 (20.1) (4,048.9) 3,291.2 (858.3) (83.7) (1,555.2) 1,653.5 1 Rates across all tenors move by ±150 bps for Swiss franc, ±200 bps for euro and US dollar and ±250 bps for pound sterling. 2 Short-term rates decrease and long-term rates increase. 3 Short-term rates increase and long-term rates decrease. 4 Short-term rates increase more than long-term rates. 5 Short-term rates decrease more than long-term rates. Audited | Under International Financial Reporting Standards (IFRS) effective on 31 December 2019 , equity investments not in the trading book may be classified as Financial assets at fair va lue not held for trading or Investments in associates . The fair value of equity investments tends to be influenced by factors specific to the individual investments. 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. However, suc h 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. They are als o included in our Group-wide statistical and stress testing metrics, which flow into our risk appetite framework. As of 31 December 2019 , we held equity investments totaling USD 2.4 billion, of which USD 1. 3 billion was classified as Financial 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 2019 were measured at fair value with changes in fair value recorded through Equity , and can broadly be categoriz ed 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 the 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 stress tes ting 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 6.3 billion as of 31 December 2019 compared with USD 6.7 billion as of 31 December 2018. |
MD&A - Risk management and co_4
MD&A - Risk management and control - Treasury Management | 12 Months Ended |
Dec. 31, 2019 | |
MDA Risk Management And Control Treasury Management [Line Items] | |
Description Of Managing Liquidity Risk | We manage the structural risk of our balance sheet, including interest rate risk (e.g. , investment of equity, banking book exposure s from Global Wealth Management and Personal & Corporate Banking ), structural foreign exchange risk and collateral risk, as well as the risks associated with our liquidity and funding portfolios. Audited | O ur management of the balance sheet, liquidity and funding positions serves the overall objective of optimizing the value of our franchise across a broad range of market conditions while considering current and future regulatory constraints. We employ a number of measures to monitor these 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 coverage ratio and the net stable funding ratio. Our liquidity and funding strategy is proposed by Group Treasury, approved by the Group Asset and Liability Committee ( the Group ALCO), which is a committee of the Group Executive Board, and is overseen by the Risk Committee of the Board of Directors ( the BoD). Audited | Liquidity and funding limits , triggers 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 di visions, 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 bal ance in the asset and liability structure. Structural limits , triggers and targets focus on the structure and composition of the balance sheet, while supplementary limits , triggers and targets are designed to drive the utilization, diversification and allo cation of funding resources. To complement and support this framework, Group Treasury monitors the markets for early warning indicators reflecting the current liquidity situation. The se 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 , triggers 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 Directors and relevant Group and subsidiary liquidity requirements . 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 aim to ensure that immediate corrective measures to absorb potential sudden liquidity shortfalls can be put into effect. Audited | Our Group Contingency Funding Plan is an integral part of our global crisis management framework, which covers various types of crisis events. This Contingen cy Funding Plan 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 the eve nt 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 H QLA portfolio s , available and unutilized liquidity facilities at several major central banks, contingent reductions of liquid trading portfolio assets and other available management actions . Audited | Group Treasury regularly monitors our funding status, including concentration risks, aiming to ensure that we maintain a well-balanced and diversified liability structure. Our funding risk management aims for the o ptimal asset and liability structure to finance 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 fundi ng that would be needed to support ongoing business activities through periods of difficult market conditions. |
UBS AG | |
MDA Risk Management And Control Treasury Management [Line Items] | |
Description Of Managing Liquidity Risk | We manage the structural risk of our balance sheet, including interest rate risk (e.g. , investment of equity, banking book exposure s from Global Wealth Management and Personal & Corporate Banking ), structural foreign exchange risk and collateral risk, as well as the risks associated with our liquidity and funding portfolios. Audited | O ur management of the balance sheet, liquidity and funding positions serves the overall objective of optimizing the value of our franchise across a broad range of market conditions while considering current and future regulatory constraints. We employ a number of measures to monitor these 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 coverage ratio and the net stable funding ratio. Our liquidity and funding strategy is proposed by Group Treasury, approved by the Group Asset and Liability Committee ( the Group ALCO), which is a committee of the Group Executive Board, and is overseen by the Risk Committee of the Board of Directors ( the BoD). Audited | Liquidity and funding limits , triggers 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 di visions, 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 bal ance in the asset and liability structure. Structural limits , triggers and targets focus on the structure and composition of the balance sheet, while supplementary limits , triggers and targets are designed to drive the utilization, diversification and allo cation of funding resources. To complement and support this framework, Group Treasury monitors the markets for early warning indicators reflecting the current liquidity situation. The se 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 , triggers 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 Directors and relevant Group and subsidiary liquidity requirements . 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 aim to ensure that immediate corrective measures to absorb potential sudden liquidity shortfalls can be put into effect. Audited | Our Group Contingency Funding Plan is an integral part of our global crisis management framework, which covers various types of crisis events. This Contingen cy Funding Plan 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 the eve nt 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 H QLA portfolio s , available and unutilized liquidity facilities at several major central banks, contingent reductions of liquid trading portfolio assets and other available management actions . Audited | Group Treasury regularly monitors our funding status, including concentration risks, aiming to ensure that we maintain a well-balanced and diversified liability structure. Our funding risk management aims for the o ptimal asset and liability structure to finance 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 fundi ng that would be needed to support ongoing business activities through periods of difficult market conditions. |
MD&A - Capital management
MD&A - Capital management | 12 Months Ended |
Dec. 31, 2019 | |
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 for conducting our business activities. Audited | We manage our balance sheet, RWA, the leverage ratio denominator ( the 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 allocated to the business divisions by the Board of Directors ( the 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-planning 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. 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 potential 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 2019 , we continued to focus on meeting the Swiss SRB capi tal requirements applicable as of 1 January 2020 , based on the Capital Adequacy Ordinance effective until 31 December 2019 . Therefore we execu ted a series of transactions, including: – the issuance s of USD 2.5 billion , USD 0.5 billion , USD 0.5 billion and USD 0.3 billion equivalent of high-trigger loss-absorbing AT1 capital instruments denominated in US dollars , Australian dol lars, Singapore dollars and Swiss francs , respe c tively ; – the issuance s of USD 1. 6 billion , USD 0.4 billion and USD 0. 1 billion equival ent of TLAC-eligible senior unsecured debt d e nominated in US dollars , S wiss francs and Australian dollars , r e spectively ; and – the call of USD 0.2 billion equivalent of low-trigger loss-absorbing tier 2 capital instruments . |
Regulatory capital and movement [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital USD million 31.12.19 31.12.18 Total IFRS equity 54,707 53,103 Equity attributable to non-controlling interests (174) (176) Defined benefit plans, net of tax (9) 0 Deferred tax assets recognized for tax loss carry-forwards (6,121) (6,107) Deferred tax assets on temporary differences, excess over threshold (221) (586) Goodwill, net of tax 1 (6,178) (6,514) Intangible assets, net of tax (195) (251) Compensation-related components (not recognized in net profit) (1,717) (1,652) Expected losses on advanced internal ratings-based portfolio less provisions (495) (368) Unrealized (gains) / losses from cash flow hedges, net of tax (1,260) (109) Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax 48 (397) Prudential valuation adjustments (104) (120) Accruals for proposed dividends to shareholders (2,628) (2,648) Other (72) (56) Total common equity tier 1 capital 35,582 34,119 1 Includes goodwill related to significant investments in financial institutions of USD 178 million as of 31 December 2019 (31 December 2018: USD 176 million) presented on the balance sheet line Investments in associates. 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 “Reconciliation of IFRS equity to Swiss SRB common e quity tier 1 capital” table. O ur CET1 capital increased by USD 1.5 billion to USD 35.6 billion as of 31 December 201 9 , mainly as a result of operating profit before tax and foreign currency translation effects , partly offset by accruals for capital return s to shareholders , our share repurchase program , current tax expenses, changes in compensation-related regulatory capital accruals and defined benefit plans . Refer to “ UBS shares ” in this section for more information about the share repurchase program Our loss-absorbing additional tier 1 (AT1) capital increased by USD 4.1 billion to USD 16.3 billion as of 31 December 201 9 , primarily due to four issuance s of USD 3. 8 billion equivalent of AT1 capital instruments denominated in US dollars, Australian dollars, Singapore dollars and Swiss francs, as well as currency effects . Audited | Our total gone concern loss-absorbing capacity included USD 3 0 .3 billion of TLAC-eligible senior unsecured debt, and increased by USD 0.3 billion to USD 3 7.8 billion as of 31 December 201 9 . |
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 for conducting our business activities. Audited | We manage our balance sheet, RWA, the leverage ratio denominator ( the 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 allocated to the business divisions by the Board of Directors ( the 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-planning 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. 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 potential 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 2019 , we continued to focus on meeting the Swiss SRB capi tal requirements applicable as of 1 January 2020 , based on the Capital Adequacy Ordinance effective until 31 December 2019 . Therefore we execu ted a series of transactions, including: – the issuance s of USD 2.5 billion , USD 0.5 billion , USD 0.5 billion and USD 0.3 billion equivalent of high-trigger loss-absorbing AT1 capital instruments denominated in US dollars , Australian dol lars, Singapore dollars and Swiss francs , respe c tively ; – the issuance s of USD 1. 6 billion , USD 0.4 billion and USD 0. 1 billion equival ent of TLAC-eligible senior unsecured debt d e nominated in US dollars , S wiss francs and Australian dollars , r e spectively ; and – the call of USD 0.2 billion equivalent of low-trigger loss-absorbing tier 2 capital instruments . |
Regulatory capital and movement [text block] | Reconciliation of IFRS equity to Swiss SRB common equity tier 1 capital USD million 31.12.19 31.12.18 Total IFRS equity 54,707 53,103 Equity attributable to non-controlling interests (174) (176) Defined benefit plans, net of tax (9) 0 Deferred tax assets recognized for tax loss carry-forwards (6,121) (6,107) Deferred tax assets on temporary differences, excess over threshold (221) (586) Goodwill, net of tax 1 (6,178) (6,514) Intangible assets, net of tax (195) (251) Compensation-related components (not recognized in net profit) (1,717) (1,652) Expected losses on advanced internal ratings-based portfolio less provisions (495) (368) Unrealized (gains) / losses from cash flow hedges, net of tax (1,260) (109) Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax 48 (397) Prudential valuation adjustments (104) (120) Accruals for proposed dividends to shareholders (2,628) (2,648) Other (72) (56) Total common equity tier 1 capital 35,582 34,119 1 Includes goodwill related to significant investments in financial institutions of USD 178 million as of 31 December 2019 (31 December 2018: USD 176 million) presented on the balance sheet line Investments in associates. |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
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 Group AG ; UBS AG’s Head Office; UBS AG , London Branch; and UBS’s US-based operations. Disclosures provided in the “Risk, treasury and capital management” section of this repor t that are 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 accounting policies described in this Note have been applied consistently in 2019, 2018 and 2017 unless otherwise stated in Note 1b. Exceptions include IFRS 9, Financial Instruments ( effective from 1 January 2018), IFRS 15, Revenue from Contracts with Customers ( effective from 1 January 2018), and IFRS 16, Leases ( effective from 1 January 2019). Within this Note, policies applied in 2018 and 2017 or only in 2017 that differ from those applied to the financial year ended 31 December 2019 are identif ied 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 a nd 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 h ave a significant effect on the Financial Statements. Further more , actual results may differ significantly from UBS’s estimates, which could result in significant losses to the Group, beyond what was anticipated or provided for. The following areas conta in estimation uncertainty or require critical judgment and have a significant effect on the amounts recognized in the Financial Statements: – fair value measurement (refer to item 3f in this Note and to Note 24); – expected credit loss measurement (refer to i tem 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 item 7 in this Note and to Note 29); – income taxes (refer to item 8 in this Note and to Note 8); – goodwill (refer to item 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 (re fer to item 1 in this Note and to Note 31); and – determination of the functional currency and assessing the earliest date from which it is practical to perform a restatement following a change in presentational currency for the year ended 31 December 2018 (refer to item 13 in this Note). |
Consolidation | 1) Consolidation a. Consolidation principles The Financial Statements comprise the financial statements of the parent company (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 r eturns. 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 has an interest in an entity that exposes it to variability, UBS considers whether it has power over the relevant activit ies 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 , i.e. , 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-making r ights are all considered in 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 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 ing these factors, UBS concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidiaries , 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 sponsors the formation of SEs and interacts with non-sponsored SEs for a variety of reasons, including allowing cl ients 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 controls the entity. Su ch 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 substance 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 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 classe s of SEs with which UBS is involved include the following : – 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 SEs. – Client i nvestment 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 or throu gh an external market transaction. In some 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-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 man aged, 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 creates and sponsors a large number of funds in whic h it may have an interest through the receipt 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 issu ed 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 eac h 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 the relevant facts and circumstan ces, 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 UBS’s businesses are organized globally into four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. All four business divisions ar e supported by Corporate Center and qualify as reportable segments for the purpose of segment reporting. Together with Corporate Center , the four business divisions reflect the management structure of the Group. Financial information about the four busines s divisions and Corporate Center is 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. Prior to 2018, UBS‘s businesses were org anized 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 r eportable segments for the purpose of segment reporting and, together with Corporate Center, reflect ed the management structure of the Group . Corporate Center – Non-core and Legacy Portfolio was managed and reported as a separate reportable unit within Cor porate Center. Financial information about the five business divisions and Corporate Center was presented separately in internal management reports to the Group Executive Board . Effective from 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 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. Consequently, from 2018, Global Wealth Management qualifies as an operating and rep ortable 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. Following the change in the composition of UBS’s operat ing segments and corresponding reportable segments, previously reported segment information has been restated. This change had no material effect on the former segments, including recognized goodwill. Refer to item 11 in this Note and Note 16 for more information Effective from 2019, UBS has operationally combined Group Treasury activities with Group Asset and Liability Management (Group ALM) and calls this combined unit Group Treasury. In addition, UBS provides results for total Corporate C enter only and does not separately report Corporate Center – Services, Group Treasury and Non-core and Legacy Portfolio due to the substantial reduction in the size and resource consumption of these units. Prior-period information has been restated. 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 i nternally 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 creati on chain. Commissions are credited to the reportable segments based 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-sh aring agreements. Interest income earned from managing UBS’s consolidated equity is allocated to the reportable segments based on average attributed tangible equity and currency composition. Assets and liabilities of the reportable segments are funded thr ough and invested with Corporate Center, 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 centrally by Corporate Center may be alloc ated to other segments on a basis different to that on which the corresponding costs or revenues are allocated. For example, certain assets are reported on the balance sheet of Corporate Center, notwithstanding that the costs or revenues associated with th ese 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. Non-current assets disclosed for segment reporting 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 information |
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 non-derivative financial instruments . 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 these items meet the definition of an asset and the recognition criteria are satisfied, such assets are not recognized on UBS’s balance sheet. Consequently, the related income is excluded from these F inancial S tatements. Client cash balances associated with derivatives clearing and execution services are not recogniz ed on the balance sheet if, through contractual agreement, regulation or practice, the Group neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation All financial instruments are on initial recog nition 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 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 both of the following condi tions: – 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 (SPPI) on t he 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 assets; an d – 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 value bas is 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 business model, for example i f 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. The Group originat es 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 len ding 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 of hold ing assets to collect contractual cash flows, and those within the latter include d 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 credit der ivatives. 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 disaggregation is performed by business strategy. A detailed assessmen t 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 compensated. In addition, UBS exercises judgment in determining t he 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 contractual 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 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 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 asset s and liabilities in accordance with IFRS 9, as described in the table on the following pages. Classification, measurement and presentation of financial assets from 1 January 2018 Financial assets c lassification Significant items included Measurement and presentation Measured at amortized cost This classification includes: – cash and balances at central banks ; – loans and advances to banks ; – cash collateral receivables on securities borrowed ; – receivables on reverse repurchase agreements ; – cash collateral receivables on derivative instruments ; – residential and commercial mortgages ; – corporate loans ; – secured loans, including Lombard loans, and unsecured loans ; – loa ns to financial advisors ; and – debt securities held as high-quality liquid assets (HQLA) . 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: – interest income, which is accounted for in accordance with item 3c in this Note ; – ECL and reversals ; and – 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. Whe n 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 counter parties 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 This classification primarily includes debt securities and certain asset-backed securities held as HQLA. Measured at fair value with unrealized gains and losses reported in Other comprehensive income, net of applicable income taxes, unt il 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 ar e recognized in the income statement: – interest income, which is accounted for in accordance with item 3c in this Note ; – ECL and reversals ; and – foreign 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. Financial assets c lassification Significant items included Measurement and presentation 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 identified financial instruments that are managed together and for which there is evidence of a rec ent 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 traded 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 , dividends and gains and losses realized on disposal or redemption are recognized in Other net income from financial instruments measured at fair value through profit or loss, except interest income on instruments other than derivatives (refer to item 3c in this Note and Note 1b 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 hedging instruments) are generally presented as Derivative financial ins truments, 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 receivables on derivative instruments. The pres entation of fair value changes on derivatives that are designated and effective hedging instruments depends on the type of hedge relationship (refer to item 3j in this Note for more information). 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 fair value not held for trading, except for brokerage receivables, whic h 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 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 ; – 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 – t hese assets represent holdings in investment funds, wher eby 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 cash flows do not meet the SPPI criterion because the aggregate ba lance 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 . Classification, measurement and presentation of financial liabilities Financial liabilities c lassification Significant items included Measurement and presentation 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 amortized cost is derecognized, the gain or loss is recognized in the in come 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 coll ateral 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 lia bilities 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 hedging instruments are also measured at fa ir 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 that 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) ; and – b rokerage payables, which arise in conjunction with brokerage receivables and are measured at FVTPL to achieve measurement consistency (from 1 January 2018). 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 accordance 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 an d are detailed in the “ Classification, measurement and presentation of financial instruments from 1 January 2018” table. 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 Financial assets classification Significant items included Measurement and presentation 1 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 short-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 financial instruments measured at fair value through profit or loss (prior to 1 January 2019: 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 rel ationships and forward points on certain short duration foreign exchange contracts, which are reported in Net interest income. Derivative assets are generally presented as Derivative financial instruments. Bifurcated embedded derivatives are measured a t fair value, but presented on the same balance sheet 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 more 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 l oss are presented as Financial assets at fair value not held for tradin g. 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 m anaged 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 – t hese instruments are designate d at fair value to eliminate an accounting mismatch; – certain debt securities held as high-quality liquid assets (HQLA) and managed by Corporate Center – Group Treasury on a fair value basis; and – assets held to hedge delivery obligations related to cash-set tled employee compensation plans – t hese 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. 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. Financial assets classification Significant items included Measurement and presentation 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 derivative instruments ; – residential and commercial mortgages ; – secured loans, including reverse repurchase agreements, receivables under stock borrowing and L ombard loans, and unsecured loans ; – certain securities held within Corporate Center – Non-core and Legacy Portfolio ; and – trade and lease receivables. Measured at amortized cost using the effective interest rate method less allowances for credit losses (re fer 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. L oans and receivables 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 d erivative 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 offsetting (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 includes debt securities held as HQLA and managed by Corporate Center – Group Treasury , certain asset-backed securities managed by Corporate Cent er – Group Treasury , investment 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 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 withi n 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 about 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 Co rporate Center – Group Treasury . Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note). |
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 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: the amortized cost of a financ ial 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 adju sted 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 commitmen t fees 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: the financial asset classified as available for sale). Such f ees 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 does not retain a portion of the syndica ted loan or where UBS 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 . R efer to item 4 in this Note for more information Presentation of inte rest 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 sale) a re 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 also presents interest i ncome and expense on financial instruments (excluding derivatives) measured at FVTPL including forward points on certain short- and long-duration foreign exchange contracts separately in Interest income ( or Interest expense ) from financial instruments meas ured 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 i tem. Interest income on financial assets, excluding derivatives, is included in i nterest 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. Simi larly, interest expense on financial liabilities, excluding derivatives, is included in i nterest expense , except when interest rates are negative, in which case it is included in i nterest income . Refer to item 3 j in this Note and Note 3 for mor e information |
Derecognition of financial instruments | d. Derecognition Financial assets UBS derecognizes a financial asset, or a portion of a financial asset, from its balance sheet whe n 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 transferr ed when UBS : (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 cash flows to one or more en tities. 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 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 derecogni tion. In transactions where substantially all of the risks and rewards of ownership of a financial asset are neither retained nor trans ferred, UBS 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, respectively. In transfers where control over the fin ancial 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 optio n contracts cleared through central cl earing counterpartie s and exchanges are considered to be settled on a daily basis through the daily margining process, as the payment or receipt of th e 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 item 3h of this Note and 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 substantially modified, such an exchange or modification results in derecognition of the original liability and the recognition of a new liability with an y difference in the respective carrying amounts being recognized in the income statement. |
Fair value of financial instruments | f. Fair value of financial instruments UBS accounts for a significant portio n 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 orderly 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. Level 1 financial instruments are those for which fair values can be der ived 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 in the fair valuation of financial instruments require s 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 inherently require a higher level of judgment than those entirely based on observable i nputs. 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 with the objective of ensuring 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 r eadily 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 assumptions are more signific ant 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 estimatin g 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 effe cts 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 financial instruments measured at fair value through profit or loss The line item Other net income from fi nancial instruments measured at fair value through profit or loss includes fair value gains and losses on financial instruments at fair value through profit or loss other than interest income and expense on non-derivatives (refer to item 3c in this Note). In addition, effective 1 January 2019 , the line item includes dividends ( prior to 1 January 2019 , dividends were included within Net interest income ) , intermediation income arising from certain client-driven Global Wealth Management and Personal & Corpor ate Banking financial transactions , foreign currency translation effects and income and expenses from exposures to precious metals. |
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 guarante es and loan commitments. 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 both 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 r evocable, 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 receive, 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 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 r eferred 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 observed subsequent to the in strument’s initial 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 instruments 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 wh ether 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 whi ch no loss has occurred 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 credit-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 followin g 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 inc rease 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. A write-off is made when all or part of a fina ncial 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 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 amount o f financial assets measured at amortized cost on the balance sheet. For financial assets measured at fair value through OCI, the carrying amount 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 applies a single definition of default for classifying assets and dete rmining 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, principa l 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 application of the 90-day criterion would not accurately reflect the inheren t credit risk. Counterparties are also classified 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 o bligations 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 defaulted, generally all claims against the counterparty are treated as def aulted. 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 at a deep discount to its carrying amount following a risk event of the iss uer 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 instrument and remains as such unless all past due amounts have been rectified, addit ional 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, mos t 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 (L GD) 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 exposures and personal account overdrafts in Switzerland, and certain loans to financi al 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 bot h 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 m aterial 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) mod els 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 corresponding Basel III through-the-cycle (TTC) parameters. All models that are releva nt for measuring expected credit losses have been subject to the existing model validation and oversight processes. The assignment of internal counterparty rating grades and the determination of default probabilities for the purposes of Basel III are not a ffected 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 lifet ime 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 macroeconomic scenario-dependencies and client-idiosyncrati c information. To derive the cumulative lifetime PD per scenario, the series of 12-month PIT PDs are transformed into marginal PIT PDs, taking any assumed default events from prior 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 ta kes into account expected future 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 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 ou tstanding at the time of default, 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 d efault patterns and the characteristics of the respective portfolios. ECL -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-mon th period prior to default. 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, especi ally with a view to modeling 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 scenario. 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 variabl es range from above-trend 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 assess ment process giving 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 developmen t do not include an assessment 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 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 ra nge of macroeconomic, market 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 inform ation decreases and judgment 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 p rojections. Factors relevant 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 a nd the US considering UBS’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, given 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’ abilities to service 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 a nd scenarios are validated and approved through a Scenario Committee and an Operating 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 once a 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 e stimation, 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 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 selection process. Once narratives have been developed, key macroeconomic factors that are consistent with the severity of the case and interdepend encies are determined. The scenarios, their weight and the key macroeconomic and other factors are subject to a critical assessment by members of the Scenario Committee, where senior credit officers from the divisions and representatives from Group Risk Co ntrol 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’ exp ectations; and whether there may be pockets of exposures, where particular credit risk concerns may not be capable of being addressed systematically and require 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 Group Controller and Chief Accounting Officer, and the Risk Chief Operating Officer and Group Chief Ris k 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 t he 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 upd ates, data quality, etc.). The Group Model Governance Board , as the highest authority under UBS’s model governance framework , ratifies the decisions by the Operating Committee. ECL measurement period The period for which lifetime ECL are determined is bas ed on the maximum contractual period that UBS 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 th e maximum contractual period for which UBS has an obligation to extend credit. Additionally, some financial instruments include both an on-demand loan and a revocable 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 U BS’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 as 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, capped at 12 months for stage 1 balances, as a proxy for the period that UBS is exposed to credit ri sk. Customary master credit agreements in the Swiss corporate market also include on-demand loans and revocable undrawn commitments. For smaller commercial facilities, a risk-based monitoring (RbM) approach is in place that highlights negative trends as r isk 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 facilitie s 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 considers both the RbM approach and formal credit review as substantive credit reviews resulting in a r e-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 proxy of the period over which UBS is exposed to credit risk, with 12 months also used as a look-bac k 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, an assess ment is made as to whether an SICR has occurred since initial recognition of the financial instrument. The assessment criteria include both quantitative and qualitative factors. UBS does not make use of the expedient that no parti cular 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 quantitative basis by comparing the annualized forward-looking and scenario-weighted lifetime P D 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 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 th e 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 quali ty 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 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 rating scale and mapping of external ratings” presented in “Credit 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 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 about 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 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 minimum period of six months is applied before a transfer back to stage 1 can be triggered. For instruments in Personal & Corporate Banking and Global W ealth M anagement Region Switzerland 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 indi cators, 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 transfer to stage 2. Exception management is furth er 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. In general, the overall SICR determination process does not apply to Lombar d loans, securities financing transactions and certain other asset-based lending transactions, because of the risk management practices adopted, including daily monitoring processes with strict margining requirements that often require the delivery of coll ateral within a number of days. If margin calls are not satisfied, a position is closed out and classified as a stage 3 position. In exceptional cases, an individual adjustment and a transfer into stage 2 may be made to take account of specific facts. Cred it risk officers are responsible for ensuring that the stage allocation of instruments reflects the i dentification of an SICR , which for accounting purposes is in some aspects different from internal credit risk management processes for loans with increase d credit risk, mainly because ECL accounting requirements are instrument-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 a ctual 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 re asonable 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 and determinations made in the quarter. Scenarios, scenario weights and macroeconomic factors ECL reflect an unbiased and probability-weighted amount, whic h UBS 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 cond itions 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 o n 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 to any extension of contractual maturities triggered by business decisions, consumer behaviors and an increased number of stage 2 positions. In additio n, 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 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 ECL. The models are governed by UBS’s model validation controls, which aim to ensure independent verification, and are approved by the Group Model Governance Bo ard ( the 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 recog nition 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 there on based on the original contractual te rms as a result of credit deterioration of the issuer or counterparty. A claim can be a loan or receivable measured at amortized cost, or a commitment, such as a letter of credit, a guarantee or a similar instrument. An allowance for credit losses is repo rted as a decrease in the carrying amount of a financial asset . For an off-balance sheet item, such as a commitment, a provision for credit loss es is reported in Provisions . Changes to allowances and provisions for credit losses are recognized in Credit lo ss (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 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 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 amount of the financ ial 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 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 rat e to the impaired carrying amount 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 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 wh en 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 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 to reduce any differences between estimated and actual loss experience. For all of its portfolios, UBS also assesses whether there have been any unforeseen developments tha t mi ght result in |
Netting | i. Offsetting 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 U BS and all of the counterparties, and (ii) intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Netted positions include, for example, certain derivatives and repurchase and reverse repurchase transaction s 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 settleme nt mechanics in eliminating substantially all credit and liquidity exposure between the counterparties. This condition precludes offsetting on the balance sheet for substantial amounts of UBS’s financial assets and liabilities, even though they may be subj ect to enforceable netting arrangements. For OTC derivative contracts, balance sheet offsetting is generally only permitted in circumstances in which a market settlement mechanism exists via an exchange o r central clearing counterparty that effectively acc omplishes net settlement through a daily exchange of collateral via a cash margining process. For repurchase arrangements and securities financing transactions, balance sheet offsetting may be permitted only to the extent that the settlement mechanism elim inates, 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 The Group uses derivative and non-de rivative instruments to manage exposures to interest rate and foreign currency risks, including exposures arising from forecast transactions. The Group continues to apply hedge accounting requirements as set out in IAS 39 . Qualifying instruments may be des ignated 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 foreca st 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 i nstrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction and the methods that will be used to assess the effectiveness of the hedging relationship. Accordingly, UBS assesses, both at the in ception 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 co nsidered highly effective if the following criteria are met: (i) at inception of the hedge and throughout its life, the hedge is expected to be highly effective in achieving offsetting changes in fair value or cash flows attributable to the hedged risk ; an d (ii) actual results of the hedge are within a range of 80–125%. In the case of hedging forecast transactions, the transaction must 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 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. The Group may also discontinue hedge accounting voluntarily. Hedge ineffectiveness represents the amount by which the changes in the fair value of the hed ging 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 cas h flows of the hedged item. Such ineffec tiveness is recorded in current- period earnings in Other net income from financial instruments measured at fair value through profit or loss ( prior to 1 January 2018: Net trading income ) . Interest from derivatives de signated 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 instrum ents 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 t o 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 hedg ed item attributable to the hedged risk is reflected as an adjustment to the carrying amount of the hedged item. If the hedge accounting relationship is terminated for reasons other than the derecognition of the hedged item, the adjustment to the carrying amount 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 financia l assets measured at amortized cost or Other financial liabilities measured at amortized cost . If the portfolio hedge relationship is terminated for reasons other than the derecognition of the hedged item, the amount included in Other financial assets meas ured 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 pro fit 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 is no longer considered effective, or if the hedge relationship is terminated, the cu mulative 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 relatin g 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 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 deriva tive instruments used for trading purposes ; i.e . , realized and unrealized gains and losses are recognized in Other net income from financial instruments measured at fair value through profit or loss ( 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 in financial liabilities Derivatives may be embedd ed 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 issuance of certain structured debt instruments. An em bedded derivative in a financial liability is generally required to be separated from the host contract and accounted for as a standalone derivative instrument at fair value through profit or loss if : (i) the host contract is not measured at fair value wit h 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 der ivative 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 Financial 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. Certain issued financial 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 3 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 . 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 subsequently 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 pro bable expected 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 o f services it provides to its clients. Fee income can be divided into two broad categories: 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; an d 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 satisf ied 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 are 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 resources of UBS that will be used to satisfy future performance obligations and cannot be distinguished between those that relate to satisfied and unsatisfied performance obl igations. 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 transactions, such costs are expensed immediately as incurred. Performance obligations satisfied at a point in time Fees earned from providing transaction-type services are reco gnized when the service has been completed, provided such fees are not subject to refund 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 ti me as the performance obligation is satisfied and revenue is earned, and are therefore 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 perform ance 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, the 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. Consideratio n can include 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 uncertain 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 co nsider 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. Ex amples include 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 cl ient 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 pe rcentage of 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 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 perf ormance obligations 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 s ignificant judgment in allocating the consideration received across the various performance obligations . UBS has taken the prac tical expedient to not disclose information about the allocation of the transaction price to remaining performance obligations in contracts. This 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 in cluded 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 terminatio n of the contract, 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 relati onship 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. Furthermore , in order to be considered an agent UBS should generally not take responsibility for the quality of the service, transform or integrate the services into a UBS product. In such circumstance s, UBS is essentially acting as a payment ag ent 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, d ifferentiating between expenses that are directly attributable to the satisfaction of specific performance obligations associated with the generation of revenues, which are presented within Total operating income , and those that are related to personnel, g eneral 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 expe nsed as incurred where the amortization period for any asset recognized would be less than 12 months. Where UBS provides services to clients, consideration is due immediately upon satisfaction of a point-in-time service or at the end of a prespecified per iod 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 prese nted 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 ear ned 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 r eporting 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 su bject 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. |
Cash and cash equivalents | 5) Cash and cash equivalents For the purpose of the statement of cash flows, cas h and cash equivalents comprise balances 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 has established share-based compensation plans that are settled in UBS‘s equity instruments or an amount that is based on the value of such instruments. T h ese awards are generally subject to vesting conditions that require employees to complete a specified period of service and, for performance shares, to satisfy specified performance conditions . Share-based 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 of service or performance conditions. Where the vesting period is shortened, for example in the case of employees affected by restructuring programs or mutually agreed termination provisions, the expense is recogn ized on an accelerated basis 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 an d the share-based compensation expense is recognized immediately on, or prior to, the date of grant. Such awards may remain forfeitable . For equity-settled awards, forfeiture events resulting from a breach of a non-vesting condition (i.e. , one that does not relate to a service or performance condition) do not result in an adjustment to the share-based compensation expense. Share-based c ompensation expense is measured by reference to the fair value of the equity instruments on the date of grant , tak ing into account the terms and conditions inherent in the award, including , where relevant , dividend rights, transfer restrictions in effect beyond the vesting date, market conditions, and non-vesting conditions. For equity-settled awards , the fair value is not remeasured unless the terms of the award are modified such that there is an incremental increase in value. No adjustments are made for modification that results in a decrease in value. 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 re - measured at each reporting date such that the cumulative expense 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 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 sponsors various post-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 plans , such as pension and medical insurance benefit plans . 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 changes re sulting 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 limited t o 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 r elated 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 obligatio n. 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 a nd, 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 refere nce 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 salary 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‘s post-employment obligations is provided within Note 2 9 . Defined contribution 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 cont ributions 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 non-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 b e paid or refunded for the current period or 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 recognize d only to the extent that it is probable that 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 differences 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 betwe en 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 th e 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 acquisition); (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 instrument s that are classified at 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 remeasurements of defined benefit plans; or (vi) f or 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 for which acceptance by t he relevant tax authority is not considered probable by adjusting current or deferred taxes, as applicable, using either the most likely amount or expected value methods, depending on which method is deemed a better predictor of the basis on which and exte nt to which the uncertainty will be resolved. 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 profi ts 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 deferr ed tax asset recognition 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 conduct ed annually, generally 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 requi red. If profit forecast assumptions 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 not 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 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 profi ts 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 deferr ed tax asset recognition 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 conduct ed annually, generally 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 requi red. If profit forecast assumptions 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 not 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, UB S 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 acquisiti on to recognize 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 amount of the investment in the associate ex ceeds 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, externall y purchased and internally generated software, as well as communication and other similar equipment. Property, equipment and software is measured at cost less accumulated dep reciation and impairment losses and is reviewed at each reporting date for indicat ion 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 ) . Depreciation is calculated on a straight-line basis over an asset ‘s estimated useful life. The estimated useful economi c 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 – leased properties and leasehold improvements: th e shorter of the lease term or the economic life of asset (typically ≤ 20 years) . |
Goodwill and intangible assets | Property, equipment and software are generally tested for impairment at the appropriate cash- generating unit (CGU) level, alongside goodwill and intangible assets as described in item 11 of this Note . An impairment charge is however only recognized for suc h assets if both the asset’s fair value less costs of disposal and value in use (if determinable) is below its carrying amount . The fair value of such an asset, other than property which has a market price, is generally determined using a replacement cost approach that reflects the amount that would be currently required by a market participant to replace the service capacity of the asset. If such assets are no longer used, they are tested individually for impairment. Refer to Note 15 for more info rmation 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, bu t at the end of each reporting period or when indicators 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 the re is any indication of impairment, UBS tests goodwill for impairment annually. Following the integration in 2018 of the Wealth Management and Wealth Management Americas business divisions into the single reportable segment Global Wealth Management, UBS c ontinued 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 cons idered to be two separate cash-generating units referred to in Note 16 as Global Wealth Management Americas and Global Wealth Management ex Americas. The remaining goodwill balances are tested at the level of Asset Management and the Investment Bank, with each segment considered a separate cash- generating unit . 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 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‘s goodwill may become 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. 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, 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 carrying amount exceeds the recoverable 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 i nformation, 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 appr oach, as well as considering quantitative and qualitative inputs from both internal 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 dete rmined 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-g enerating unit are tested for sensitivity by applying reasonably possible changes to tho se assumptions. Refer to Note 16 for details about how the reasonably possible changes 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 | IAS 37 provisions are measured considering the 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 re vised 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 discharge the obligation, using a rate that re flects 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, including those of less significant amounts, a re 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 their respective liabilit y lines depending on their nature . When all co nditions 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 ex istence 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. The majority of UBS’s provisions relate to litigation, regulatory and similar matters, restruct uring, and employee benefits. Restructuring provisions are generally recognized as a consequence of management agreeing to materially change the scope of the business or the manner in which it is conducted, including changes in the management structure. Pr ovisions for employee benefits relate mainly to service anniversaries and sabbatical leave, and are recognized in accordance with measurement principles set out in item 7 of this Note . In addition, UBS presents expected credit loss allowances within Provis ions if they relate to a loan commitment, financial guarantee contract or a revolving revocable credit line. 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 uncert ainties 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 quan tified 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 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 generally of limited use in determining wheth er 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 re gard 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 | Upon consolidation, assets and liabilities of foreign operations (which from 1 October 2018 also include UBS’s Swi tzerland -based operati ons 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 fo r 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 foreign currency tran slation 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, whereby the differ ence 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 the balance sheet dates, with any translation effects adjusted through Retained earnings . When a foreign operation is d isposed 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 relat ed 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 differenc es is reclassified to profit or loss. When UBS 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 translation balance is reclassified to Equity attribu table 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 determinin g the appropriate funct ional currency and any changes. UBS’s conclusion, in the fourth quarter of 2018, that the functional currency of UBS Group AG, UBS AG’s Head Office in Switzerland and UBS AG , London Branch had changed from the Swiss franc to the US dollar was based on a detailed assessment of the primary currencies affect ing and influencing the economics of each entity, considering revenu e- generating income streams, expenses, funding and risk management activities. In addition, determining the earlies t 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 presentatio n currency of UBS Group AG’s consolidated financial statements from the Swiss franc to the US dollar 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 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 exte nsive data analysis before concluding that 1 January 2004 represented the earliest date available, with the consequence that foreign currency translation gains and losses prior to 2004 were disregarded , and foreign currency translation effect s were first c alculate d from 1 January 2004 onward . |
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 equivalent to each option’s exercise price 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 pre sented in Equity 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 report ed 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 derivatives , with changes in fair value reported in the income statement as Other net income from financial instruments measured at fair value through profit or loss . |
Leasing | 15) Leasing Policy applicable from 1 January 2019 1 UBS predominantly enters into lease contracts, or contracts that include lease components, as a lessee of real estate, including offices, retail branch es and sales offices, with a small number of IT hardware leases. UBS identifies non-lease components of a contract and accounts for them separately from lease components. When UBS is a lessee in a lease arrangement, UBS recognizes a lease liability and cor responding right-of-use (RoU) asset at the commencement of the lease term when UBS acquires control of the physical use of the asset. Lease liabilities are presented within Other financial liabilities measured at amortized cost and RoU assets within Proper ty, equipment and software . The lease liability is measured based on the present value of the lease payments over the lease term, discounted using UBS’s unsecured borrowing rate , given that the rate implicit in a lease is generally not observable to the le ssee. Interest expense on the lease liability is presented within Interest expense from financial instruments measured at amortized cost . The RoU asset is recorded at an amount equal to the lease liability but is adjusted for rent prepayments, initial dire ct costs, any costs to refurbish the leased asset and/ or lease incentives received. The RoU asset is depreciated over the shorter of the lease term or the useful life of the underlying asset, with the depreciation presented within Depreciation and impairme nt of property, equipment and software . Lease payments generally include fixed payments and variable payments that depend on an index (such as an inflation index). When a lease contains an extension or termination option that the Group considers reasonabl y certain to be exercised, the expected rental payments or costs of termination are included within the lease payments used to generate the lease liability. UBS does not typically enter into leases with purchase options or residual value guarantees. Where UBS acts as a lessor or sub-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 lease payments plus any unguaranteed residual value th at UBS 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 as repayments of the outstanding receivable. Inte rest income reflects a constant periodic rate of return on UBS’s net investment using the interest rate implicit in the lease (or, for sub-leases, the rate for the head lease). UBS reviews the estimated unguaranteed residual value annually, and if the esti mated residual value to be realized is less than the amount assumed at lease inception, a loss is recognized for the expected shortfall. Where UBS acts as a lessor or sub-lessor in an operating lease, UBS recognizes the operating lease income on a straight -line basis over the lease term. Lease receivables are subject to impairment requirements as set out in item 3g of this Note . Expected credit losses (ECL) on lease receivables are determined following the general impairment model within IFRS 9, Financial Instruments , without utilizing the simplified approach of always measuring impairment at the amount of lifetime ECL. Comparative policy | Policy applicable prior to 1 January 2019 Leases that transfer substantially all the risks and rewards, but not neces sarily legal title in the underlying assets, are classified as finance leases. All other leases are classified as operating leases. Lease contracts classified as operating leases where UBS is the lessee include non-cancelable long-term leases of office bui ldings 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. Refer to Note 15 and 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 , 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 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. |
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, incom e 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, updating them as necessary. Changes in those estimates and assumptions may hav e a significant effect on the Financial Statements. Further more , actual results may differ significantly from UBS AG ’s estimates, which could result in significant losses 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 measurement (refer to item 3f in this Note and to Note 24); – expected credit loss measurement (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 item 7 in this Note an d to Note 29); – income taxes (refer to item 8 in this Note and to Note 8); – goodwill (refer to item 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 (r efer to item 1 in this Note and to Note 31); and – determination of the functional currency and assessing the earliest date from which it is practical to perform a restatement following a change in presentational currency for the year ended 31 December 2018 (refer to item 13 in this Note). |
Consolidation | 1) Consolidation a. Consolidation principles 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, 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 ; an d (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 has an interest in an entity that exposes it to varia bility, UBS AG 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 UBS AG has power over another entit y , i.e. , 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-making 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 in 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 (i ii) 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 ing these factors, UBS AG concludes that it can exercise its power to affect its own returns, the entity is consolidated. Subsidiaries, 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, including 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 rig hts 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 AG assesses whether an entity is an SE by considering the nature of 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 th e ability to liquidate the entity or remove the decision 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 ca nnot be fully established, the entity is considered to be an SE. The classes of SEs with which UBS AG is involved include the following : – 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 securit ization definition. All securitization entities are classified as SEs. – 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 inv estment objective or to introduce other desired risk exposures. In certain 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 collectiv e 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 subst antive 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 and 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 t hese 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 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 th e consolidation assessment, judgment is exercised considering all the 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 m ore information |
Segment reporting | 2) Segment reporting UBS AG’s businesses are organized globally into four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. All four business divisions are supported by Corporate Center and qualify as reportable segments for the purpose of segment reporting. Together with Corporate Center , the four business divisions reflect the management structure of the Group. Financial information about the four business divisions and Corporate Center is presented separately in internal management reports . Prior to 2018, UBS AG‘s businesses were organ ized 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 . Corporate Center – Non-core and Legacy Portfolio was managed and reported as a separate reportable unit withi n Corporate Center. Financial information about the five business divisions and Corporate Center was presented separately in internal management reports . Effective from 2018, UBS AG combined its Wealth Management and Wealth Management Americas business div isions 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 integrated operating plan and management structure. Consistent with this, the opera ting results of Global Wealth Management are presented and assessed on an integrated basis in internal management reports. Consequently, from 2018, Global Wealth Management qualifies as an operating and reportable segment for the purposes of segment report ing and is presented in these Financial Statements alongside Personal & Corporate Banking, Asset Management, the Investment Bank and Corporate Center. Following the change in the composition of UBS AG ’s operating segments and corresponding reportable segme nts, previously reported segment information has been restated. This change had no material effect on the former segments, including recognized goodwill. Refer to item 11 in this Note and Note 16 for more information Effective from 2019, UB S AG has operationally combined Group Treasury activities with Group Asset and Liability Management (Group ALM) and calls this combined unit Group Treasury. In addition, UBS AG provides results for total Corporate Center only and does not separately report Corporate Center – Services, Group Treasury and Non-core and Legacy Portfolio due to the substantial reduction in the size and resource consumption of these units. Prior-period information has been restated. UBS AG ’s internal accounting policies, which in clude 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 reflect ed 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 reportable segments based on average attributed tangible equity and currency composition. Assets and liabilities of the reportable segments are funded through and invested with Corporate Center , 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 management . Certain assets managed centrally by Corporate Center may be allocated to other segments on a basis differen t to that on which the corresponding costs or revenues are allocated. For example, certain assets are reported on the balance sheet of Corporate Center, notwithstanding that the costs or revenues associated with these assets may be entirely or partly alloc ated 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. Non-current assets disclosed for segment reporting 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 information |
Financial instruments | 3) Financial instruments a. Recognition 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 non-derivative financi al 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 these items meet the definition of an asset and the recognition criteria are satisfie d, such assets are not recognized on UBS AG ’s balance sheet. Consequently, 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, UBS AG neither obtains benefits from nor controls the client cash balances. b. Classification, measurement and presentation All financial instruments are on initial recognition measured at fair value. In the case of financial instruments subsequently measured at amortized cost or fair value through other comprehensive income (FVOC I) , the initial fair value is adjusted for directly attributable 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 (F VTPL). A debt instrument is measured at amortized cost if it meets both of 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 finan cial asset result in cash flows that are solely payments of principal 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 ob jective is achieved by both collecting contractual cash flows and selling 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 measured 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 ap ply. 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 achi eve 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 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. 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 of hold ing assets to collect contractual cash flows, and those 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, for instance, using credit 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, furt her disaggregation is performed by business strategy. A detailed 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 ma nagement is compensated. In addition, UBS AG 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, UBS AG considers whether the contractual terms of the financial asset contain a term that could change the timing or amo unt of contractual cash flows arising over 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 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 in itial recognition, UBS AG classifies, measures and presents its financial assets and liabilities in accordance with IFRS 9, as described in the table on the following pages. Classification, measurement and presentation of financial assets from 1 January 2018 Financial assets C lassification Significant items included Measurement and presentation Measured at amortized cost This classification includes: – cash and balances at central banks ; – loans and advances to banks ; – cash collateral receivables on securities borrowed ; – receivables 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 ; and – debt securities held as high-quality liquid assets (HQLA) . Measured at amortized cost using the effective interest rat e (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: – interest income, which is accounted for in accordance with item 3c in this Note ; – ECL and reversals ; and – 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 s pecific 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-tr aded 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 pr esented within Cash collateral receivables on derivative instruments. Measured at FVOCI Debt instruments measured at FVOCI This classification primarily includes debt securities and certain asset-backed securities held as HQLA. 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 balanc es 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 ; and – foreign 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. Financial assets C lassification Significant items included Measurement and presentation 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 repu rchasing in the near term, or that are part of a portfolio of identified 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 traded 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 , dividends and gains and losses realized on disposal or redemption are recognized in Other net income from financial instruments measured at fair value through profit or loss, except interest income on instruments other than derivatives (refer to item 3c in this Not e and Note 1b 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 i nterest income. Derivative assets (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 b e settled on a daily basis or in substance net settled on a daily basis, which are presented within Cash collateral receivables on derivative instruments. The presentation of fair value changes on derivatives that are designated and effective hedging ins truments depends on the type of hedge relationship (refer to item 3j in this Note for more information). Financial assets held for trading (other than derivatives) are presented as Financial assets at fair value held for trading. Other financial assets m andatorily measured at fair value through profit or loss are presented as Financial assets at fair 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 ; – 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 ert ain investment fund holdings and assets held to hedge delivery obligations related to cash-settled employee compensation plans – t hese 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 cash flows do not meet the SPPI criterion because the aggregate balance is accounted for as a single unit of account, with interest bein g 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 . Classification, measurement and presentation of financial liabilities Financial liabilities C lassification Significant items included Measurement and presentation 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; – obligations against funding from UBS Group AG and its subsidiaries ; and – cash collateral payables on derivative instruments. Measured at amortized cost using the EIR method. Upfront fees and d irect 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 inco me 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 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 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 th at 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 Derivat ive 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 instrumen ts. 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 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 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 agre ements 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 mounts due under unit-linked investment contracts w hose cash flows are linked to financial assets measured at FVTPL and eliminate an accounting mismatch (from 1 January 2018) ; and – b rokerage payables, which arise in conjunction with brokerage receivables and are measured at FVTPL to achieve measurement cons istency (from 1 January 2018). 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 requirements in respect of financial liabilities have bee n substantially retained by IFRS 9 and are detailed in the “ Classification, measurement and presentation of financial instruments from 1 January 2018” table. 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 Financial assets Classification Significant items included Measurement and presentation 1 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 short-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 financial instruments measured at fair value through profit or loss (prior to 1 January 2019: 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 account ing relationships and forward points on certain short duration 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 sheet line as the host contract measured at amortized cost. The presentation of fair value changes on derivatives that are designated and effective hedging inst ruments 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 derivatives) are presented as Financial assets at fair value held for trading. Financial asset s designated at fair value through profit or loss are presented as Financial assets at fair value not held for tradin g. 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 inst rument 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 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 – t hese 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 Treasury on a fair value basis; and – assets held to hedge delivery obligations related to cash-settled employee compensation plans – t hese 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. 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. Financial assets Classification Significant items included Measurement and presentation 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. This classification includes: – cash and balances with central banks ; – cash collateral receivables on derivative instruments ; – residential and commerc ial 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 ; and – trade and lease receivabl es. 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 receivables 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 instruments. Amounts arising from exchange-traded derivatives (ETD) and certain over-the-counter (OTC) derivatives cleared through cent ral clearing counterparties that are either considered to be daily settled or qualify for offsetting (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 includes debt securities held as HQLA an d managed by Corporate Center – Group Treasury , certain asset-backed securities managed by Corporate Center – Group Treasury , investment 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 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 accorda nce with item 3c in this Note. Refer to item 13 in this Note for information about 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 Treasury . Measured at amortized cost using the effective interest rate method less allowances for credit losses (refer to items 3c and 3g in this Note). |
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: the amortized cost of a financ ial 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 adju sted 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 commitmen t fees 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: the financial asset classified as available for sale). Such f ees 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 synd icated loan 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 . R efer to item 4 in this Note for more information Presentation o f 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 s ale) 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 i nterest income and expense on financial instruments (excluding derivatives) measured at FVTPL including forward points on certain short- and long-duration foreign exchange contracts separately in Interest income ( or Interest expense ) from financial instrum ents 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 i nterest income when positive and in Interest expense when negative, because negative interest income arising on a financial asset does not meet the definition of reve nue. Similarly, interest expense on financial liabilities, excluding derivatives, is included in i nterest expense , except when interest rates are negative, in which case it is included in i nterest 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 whe n the contractual rights to cash flows from the asset have expired, or have been transf erred, 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 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 ca sh 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 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 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 fi nancial 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, respectively. In transfers where control over the financial asset is retained, UBS AG continues to recognize the asset to the extent of its con tinuing 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 optio n contracts cleared through central cl earing counterpartie s and exchanges 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, wh ich results in derecognition of the associated positive and negative replacement values. Refer to item 3h of this Note and 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 exist ing liability are substantially 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 state ment. |
Fair value of financial instruments | f. Fair value of financial instruments UBS AG accounts for a significant portion of its assets and liabilities at fair value. Fair value i s 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 advantageous market in the absence of a princi pal 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 financia l 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 in the fair valuation of financial instruments require s 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 inherently require a higher level of judgment than those entirely based on observable i nputs. 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 with the objective of ensuring 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 les s readily available. UBS AG ‘ 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 assumptions are more si gnificant 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 est imating 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 e ffects 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 |
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 guarante es and loan commitments. ECL are also recognized on the undrawn portion of revolving revocable credit lines, which include UBS AG ’s credit card limits and master credit facilities, which are customary in the Swiss market for corporate and commercial client s. UBS AG refers to both 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 AG at any time. Though these other credit li nes are revocable, UBS AG is exposed to credit risk because the client has the ability to draw down 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 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 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 ris k 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 inc rease in credit risk (SICR) is observed subsequent to the instrument’s initial 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 d efault occurring. Instruments in this category are referred to as instruments 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 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 strat egy . Credit-impaired exposures may include positions for which no loss has occurred 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 reco gnition are also recognized for assets that are purchased or originated credit-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 AG does not apply the low-credit-risk practical expedient that allows a lifetime ECL for lease or fee receiva bles 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. 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 a mounts 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 rep orted as a decrease in the carrying amount of financial assets measured at amortized cost on the balance sheet. For financial assets measured at fair value through OCI, the carrying amount 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 defini tion 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 late st 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 AG 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 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 restructured on preferential terms (forbe arance); 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 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 POCI. An instrument is POCI if it has been purchased at a deep 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 instrument and remains as such unle ss 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 ba ck 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 defa ult 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). Parameters are generally determined on an individual financial asset level. Based on the materiality of the portfolio, for credit card exposures and personal account overd rafts 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 inst ruments, 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 AG leverages its Pillar 1 internal ratings-based (IRB) models that are also used in determining expected loss (EL) and risk-weighted assets und er 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 corresponding Basel III through-the-cycle (TTC) parameters. All models that are relevant for measuring expected credit losses have been subject to the existing model valid ation and oversight processes. 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 lifet ime 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 macroeconomic scenario-dependencies and client-idiosyncrati c information. To derive the cumulative lifetime PD per scenario, the series of 12-month PIT PDs are transformed into marginal PIT PDs, taking any assumed default events from prior 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 determinatio n of the LGD takes into account expected future 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 cla ims. 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 th e cash flows outstanding at the time of default, 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 characteristics of the respective portfolios. ECL -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 default. 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 relevan t future economic conditions, especially with a view to modeling the non-linear effect of assumptions about macroeconomic factors on the estimate. To accommodate this requirement, UBS AG uses four different economic scenarios in the ECL calculation: an up side, a baseline, a mild downside and a severe downside scenario. 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-trend economic growth to severe recession. The baseline scenario is aligned to the economic and market assumptions used for UBS AG business planning purposes. An econometric model is used to provid e 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 historically 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 context of current conditions and future expectations and applies material judgment in d etermining 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 materializ e. 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 information is used to support the identification of the key factors. As the forecast hor izon increases, the availability of information decreases and judgment increases. For cycle-sensitive PD and LGD determination purposes, UBS AG 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 relevant 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 variable s 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 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; – house price indices, given their significant effect on mortgage collateral valuations; – unemployment rates, given their significant effect on private clients’ ability to meet contractual obligations; – in terest rates, given their significant effect on the counterparties’ abilities to service 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 AG economists, risk methodology personnel and credit risk officers. Assumption s 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 information throughout UBS AG , including in the business planning process. ECL inputs are teste d and reassessed for appropriateness at least once a 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 and assessment processes, which involve a broad range of experts, in particular, risk spec ialists 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 developed, 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 Scenario Committee, where senior credit officers from the divisions and representativ es 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 cred it 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 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 chaired by the Group Controller and Chief Accounting Officer, and the Risk Chief Operating Off icer 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 pendin g remediation (model updates, data quality, etc.). The Group Model Governance Board , as the highest authority under UBS AG ’s model governance framework , ratifies the decisions by the Operating Committee. ECL measurement period The period for which lifetim e 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 me asurement period represents the maximum contractual period for which UBS AG has an obligation to extend credit. Additionally, some financial instruments include both an on-demand loan and a revocable undrawn commitment, where the contractual cancelation ri ght 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 undrawn components are managed as one unit. The exposure arising from UBS AG ’s credi t 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, 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 commitments. For smaller commercial facilities, a risk-based monitoring (RbM) approa ch 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 AG has assessed these credit risk management practices and considers both the RbM approach and formal c redit 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 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 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, an assess ment is made as to whether an SICR has occurred since initial recognition of the financial instrument. The 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 compa ring 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 occurred and the instrument is transferred to stage 2 with lif etime 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 AG rating scale and mapping of external ratings” presented in “Credit risk” in the “Risk management and control” sec tion 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 about 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 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 minimum period of six months is applied before a transfer back to stage 1 can be trigg ered. For instruments in Personal & Corporate Banking and Global W ealth Management Region Switzerland 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 secondary qualitative indicator for a n 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 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. In general, 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 w ith strict margining requirements that often require the delivery of collateral within a number of days. If margin calls are not satisfied, a position is closed out and classified as a stage 3 position. In exceptional cases, an individual adjustment and a transfer into stage 2 may be made to take account of specific facts. Credit risk officers are responsible for ensuring that the stage allocation of instruments reflects the i dentification of an SICR , which for accounting purposes is in some aspects differe nt 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 exposures allocated to different stages, and that maturing lo ans 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 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. C hanges 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 information, both qualitative and quantitative, and includes significant management judgment. More stringent criteria could signi ficantly 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 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 r espective 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 macroeconom ic 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 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 whic h 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 c omplex 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 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 ( the GMGB). The management adjustments are approved by the IFRS 9 Operating Committee and endorsed by the GMGB. UBS AG provide s 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 f or 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 there on 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 measured at amortized co st, 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 amount of a financial asset . For an off-balance sheet item, such as a commitment, a provision fo r credit loss es 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 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 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 amount of the financial asset over the estimated recoverable amount. The estimated recoverable amount is the present value, calculated using the loan’s ori ginal 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 cur rent effective interest rate. Upon impairment, interest income is accrued by applying the original effective interest rate to the impaired carrying amount 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 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 loss ( expense ) / recovery. Collective allowances and provisio ns 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 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 th |
Netting | i. Offsetting 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 recognized 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 simultaneously. 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 settle ment mechanics in eliminating substantially all credit and liquidity exposure between the counterparties. This condition precludes offsetting on 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 circumstances in which a market settlement mechanism exists via an exchange o r central clearing counterparty that effectivel y accomplishes net settlement through a daily exchange of collateral via a cash margining process. For repurchase arrangements and securities 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 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 transactions. 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 ti me a financial 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 methods 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 effe ctive” 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 hedg e is expected 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 transact ion must 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 n ot, 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 dis continue 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 w hich 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 financial instruments measured at fair value through profit or loss ( 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 a nd 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 transac tion affects profit or loss is presented within Interest income from derivative instruments designated as cash flow hedges . 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 amount o f the hedged item. If the hedge accounting relationship is terminated for reasons other than the derecognition of the hedged item, the adjustment to the carrying amount 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 terminated 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 pro fit 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 is no longer considered effective, or if the hedge relationship is terminated, the cu mulative 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 relatin g 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 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 deriva tive instruments used for trading purposes ; i.e . , realized and unrealized gains and losses are recognized in Other net income from financial instruments measured at fair value through profit or loss ( 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 in financial liabilities 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 issuance of certain structured debt instr uments. An embedded derivative in a financial liability is generally required to be separated from the host contract and accounted for as a standalone derivative instrument at fair value through profit or loss if : (i) the host contract is not measured at f air 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 AG applies the fair value option to hybrid instruments (refer to item 3b in this Note for more information), in which cas e 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 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 AG issues such financial guarantees to banks, financial institutions and other parties on behalf of clients to secure loans, overdrafts and other banking facilities. |
Fee income | 4) Fee 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 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 fees (e.g., securiti es 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 AG (see measurement below). Costs to fulfill services over time are recorded in th e 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 resources of UBS AG 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 incurre d relate to contracts that include 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 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 refund or another contingency beyond the control 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 n ot 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 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, the costs are expensed immediately as incurred. Measurement Fee and commission in come 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. Variable consideration inc ludes 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 extent that it is highl y 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 where the contingency o n 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 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 transaction are not recognized until the tran saction 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 been esta blished 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 u nder 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 specifi ed amount of consideration. Consideration received is allocated to the separately identifiable performance obligations in a contract. Owing to the nature of UBS AG ’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 the con sideration received across the various performance obligations. UBS AG has taken the practical expedient to not disclose information about the allocation of the transaction price to remaining performance obligations in contracts. This 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 fo r 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 AG would be entitled to invoice upon termination of the contract, e.g., loan commit ments. 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 suppliers 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 provi ded 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 should generally not take responsibility for the quality of the service, transform or integrate the services into a UBS AG product. In such circumstance s, UBS AG is essentially acting as a payment agent for its client . When UBS 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 between expenses that are directly attributable to the satisfaction of specific performance obligations associated with the generation of revenues, which are pre sented 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 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 months. Where UBS AG provides services to clients, consideration is due immedi ately 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 fun d 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 AG is yet to satisfy its perf ormance 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 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-l inked 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 No te 4 for more information |
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 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 maintains the obligation to settle share-based compensation plans that are awarded to employees of UBS AG. As a consequence, UBS AG classifies the awards of UBS Group AG shares as equity-settled share-based payment transactions. UBS AG recognizes the fair value of awards granted to its employees by reference to th e fair value of UBS Group AG’s equity instruments on the date of grant, tak ing into account the terms and conditions inherent in the award, including, where relevant, dividend rights, transfer restrictions in effect beyond the vesting date, market conditions, and non-vesting conditions. T h ese awards are generally subject to vesting conditions that require employees to complete a specified period of service and, for performance shares, to satisfy specified performance conditions . Share-based 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 of service or performance conditions. Where the vesting period is shortened, for example in the case of employees affected by restructuring programs or mutually agreed termination provisions , the expense is recognized on an accelerated basis 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 the share-based compensation expense is recognized immediately on, or prior to, the date of grant. Such awards may remain forfeitable . For equity-settled awards, forfeiture events resulting from a breach of a non-vesting condition (i.e. , one that does not relate to a service or performance condition) do not result in an adjustment to the share-based compensation expense. The f air value is not remeasured unless the terms of the award are modified such that there is an incremental increase in value. No adjustments are made for modification s that result in a decrease in value. The eq uity effects in UBS AG that arise from recognizing UBS Group AG share-based c ompensation plans are offset through a recharge from UBS Group AG to UBS AG and its subsidiaries. Refer to Note 30 for more information Other compensation plans The employees of UBS AG are granted deferred compensation plans that are settled in cash or other financial instruments, 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 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 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. 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 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 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 AG offers defined benefit plans , such as pension and medical insurance benefit plans . 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 th e 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 va lue of the defined benefit obligation, the recognition of the resulting net defined benefit asset 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 ri se to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. These amounts, which take into account the specific features of each plan, including risk sharing between employee and employer, are calcula ted 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 ass umptions include life expectancy, the discount rate, expected salary increases, pension increases and, in addition for the Swiss plan and one of the US defined benefit pension plans, interest credits on r etirement savings account balances. Life expectancy is determined by reference to published mortality tables. The discount rate is determined by reference to the rates of return on high-quality fixed-income investments of appropriate currency and term at the measurement date. The assumption for salary incre ases reflects the long-term expectations for salary growth and takes into account historical salary development by age groups, expected inflation and expected supply and demand in the labor market. A sensitivity analysis for reasonable possible movements i n 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 re lating to employee service in the current and prior periods. UBS AG ’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 recogniz ed 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 Switzerland and those of the non-Swiss jurisdictions in which UBS AG has business operations. UBS A G ’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 . 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 that sufficient taxable profits will be available against which these differences can be used . W hen 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 other evidence that sufficient taxable profit will be available again st 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 intende d to be settled net or realized simultaneously. Current and deferred taxes are recognized as income tax benefit or expen se 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 acquisition); (ii) for gains and losses on the sale of treas ury shares (for which the tax effects are recognized directly in Equity ); (iii) for unrealized gains or losses on financial instruments that are classified at FVOCI (prior to 1 January 2018: financial assets classified as available for sale); (iv) for chan ges 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 recogniz ed in Other comprehensive income within Equity . UBS AG reflects the potential effect of uncertain tax positions for which acceptance by the relevant tax authority is not considered probable by adjusting current or deferred taxes, as applicable, using either the most likely amount or expected value methods, depending on which method is deemed a better predictor of the basis on which and extent to which the uncertainty will be resolved. 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 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 AG ’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, gen erally 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 f orecast assumptions in future periods deviate from the current outlook, the value of UBS AG ’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 state ment but would not 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 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 si gnificant 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 re cognize UBS AG ’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 amount of the investment in the associate exceeds its r ecoverable 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 measured at cost less accumulated dep reciation and impairment losses and is reviewed at each reporting date for indication for imp airment. 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., whe n they are in the location and condition necessary for them to be capable of operating in the manner intended by management ) . Depreciation 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 years – other machines and equipment: ≤ 10 years – software: ≤ 10 years – leased properties and leasehold improvements: the shorte r of the lease term or the economic life of asset (typically ≤ 20 years) . Property, equipment and software are generally tested for impairment at the appropriate cash- generating unit (CGU) level, alongside goodwill and intangible assets as described in item 11 of this Note . An impairment charge is however only recognized for such assets if both the asset’s fair value less costs of disposal and value in use (if determinable) is below its carrying amount . The fair value of such an asset, other than property which has a market price, is generally determined using a replacement co st approach that reflects the amount that would be currently required by a market participant to replace the service capacity of the asset. If such assets are no longer used, they are tested individually for impairment. Refer to Note 15 for more i nformation |
Goodwill and intangible assets | 11) Goodwill and intangible assets 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, bu t at the end of each reporting period or when 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 wheth er there is any indication of impairment, UBS AG tests goodwill for impairment annually. Following the integration in 2018 of the Wealth Management and Wealth Management Americas business divisions into the single reportable segment Global Wealth Manageme nt, 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 divisi ons are considered to be two separate cash-generating units referred to in Note 16 as Global Wealth Management Americas and Global Wealth Management ex Americas. The remaining goodwill balances are tested at the level of Asset Management and the Investment Bank, with each segment considered a separate cash- generating unit . 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 th e respective cash-generating unit. 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 become 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. 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, 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 carrying 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, w here 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 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 c onsistent 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 uni t are tested for sensitivity by applying reasonably possible changes to tho se assumptions. Refer to Note 16 for details about how the reasonably possible changes 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 generally recognized in accordance with IAS 37, Provisions, Contingent Liabilities and Contingent Asset s , when : (i) UBS AG 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 th e amount of the obligation can be made. UBS AG recognizes IAS 37 provisions for litigation, regulatory and similar matters when, in the opinion of management after seeking legal advice, the requirements for recognition have been met. A provision may also be established for claims that have not yet been asserted against UBS AG , but are nevertheless expected to be, based on UBS AG experience with similar asserted claims. IAS 37 provisions are measured considering the 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 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 discharge 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, including those of less significant amo unts, 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 their respective liabilit y lines depending on their nature . 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 w hose 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. The majority of UBS AG ’s provisions relate to litigation, regulatory and similar matt ers, restructuring, and employee benefits. Restructuring provisions are generally recognized as a consequence of management agreeing to materially change the scope of the business or the manner in which it is conducted, including changes in the management structure. Provisions for employee benefits relate mainly to service anniversaries and sabbatical leave, and are recognized in accordance with measurement principles set out in item 7 of this Note . In addition, UBS AG presents expected credit loss allowanc es within Provisions if they relate to a loan commitment, financial guarantee contract or a revolving revocable credit line. 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 subjec t 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 ha ve 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 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 generally of limited use in d etermining 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 ass umptions 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 the 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 s ale ), 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 asset s measured at amortized cost) are reported in Other net income from financial instruments m easured at fair value through profit or loss (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 differences on non-monetary financial assets classified as available for sale were reco rded directly in Equity until the asset was derecognized . Upon consolidation, assets and liabilities of foreign operati ons (which from 1 October 2018 also include UBS AG ’s Swi tzerland -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 pa rt of Total equity attributable to shareholders , whereas the foreign currency translation differences attributable to non-controlling interests are included within Equity attributable to non-controlling interests . Shar e capital issued, share premium and tr easury 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 amou nts 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 the balance sheet dates, with any tra nslation effects adjusted through Retained earnings . When a foreign operation 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 at tributable 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 invest ment in a subsidiary, the cumulative amount of foreign currency translation 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 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 r elevant to the entity when determining the appropriate funct ional currency and any changes. UBS AG ’s conclusion, in the fourth quarter of 2018, that the functional currency of UBS AG’s Head Office in Switzerland and UBS AG London Branch had changed from the Swiss franc to the US dollar was based on a detailed assessment of the primary currencies affect ing and influencing the economics of each entity, considering revenu e- generating income streams, 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 AG ’s decision in 20 18 to change the presentation currency of its consolidated financial statements from the Swiss franc to the US dollar 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 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 AG 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 losses prior to 2004 were disregarded , and foreign currency translation effect s were first calculate d from 1 January 2004 onward . |
Leasing | 15) Leasing Polic y applicable from 1 January 2019 1 UBS AG predominantly enters into lease contracts, or contracts that include lease components, as a lessee of real estate, including offices, retail branches and sales offices, with a small number of IT hardwar e leases. UBS AG identifies non-lease components of a contract and accounts for them separately from lease components. When UBS AG is a lessee in a lease arrangement, UBS AG recognizes a lease liability and corresponding right-of-use (RoU) asset at the com mencement of the lease term when UBS AG acquires control of the physical use of the asset. Lease liabilities are presented within Other financial liabilities measured at amortized cost and RoU assets within Property, equipment and software . The lease liabi lity is measured based on the present value of the lease payments over the lease term, discounted using UBS AG ’s unsecured borrowing rate , given that the rate implicit in a lease is generally not observable to the lessee. Interest expense on the lease liab ility is presented within Interest expense from financial instruments measured at amortized cost . The RoU asset is recorded at an amount equal to the lease liability but is adjusted for rent prepayments, initial direct costs, any costs to refurbish the lea sed asset and/ or lease incentives received. The RoU asset is depreciated over the shorter of the lease term or the useful life of the underlying asset, with the depreciation presented within Depreciation and impairment of property, equipment and software . Lease payments generally include fixed payments and variable payments that depend on an index (such as an inflation index). When a lease contains an extension or termination option that UBS AG considers reasonably certain to be exercised, the expected ren tal payments or costs of termination are included within the lease payments used to generate the lease liability. UBS AG does not typically enter into leases with purchase options or residual value guarantees. Where UBS AG acts as a lessor or sub-lessor u nder 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 lease payments plus any unguaranteed residual value 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 as repayments of the outstanding receivable. Interest i ncome reflects a constant periodic rate of return on UBS AG ’s net investment using the interest rate implicit in the lease (or, for sub-leases, the rate for the head lease). UBS AG reviews the estimated unguaranteed residual value annually, and if the esti mated residual value to be realized is less than the amount assumed at lease inception, a loss is recognized for the expected shortfall. Where UBS AG acts as a lessor or sub-lessor in an operating lease, UBS AG recognizes the operating lease income on a st raight-line basis over the lease term. Lease receivables are subject to impairment requirements as set out in item 3g of this Note . Expected credit losses (ECL) on lease receivables are determined following the general impairment model within IFRS 9, Finan cial Instruments , without utilizing the simplified approach of always measuring impairment at the amount of lifetime ECL. Comparative policy | Policy applicable prior to 1 January 2019 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. Lease contracts classified as operating leases where UBS AG is the lessee include non-cancelable long-term leases of of fice 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 reductio n of rental expense and are recognized on a consistent basis over the lease term. Refer to Note 15 and 33 for more information |
Non-controlling interests and preferred noteholders | 14) Non-controlling interests and preferred noteholders 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 interests and Equity attributable to preferred noteho lders. 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 reduced accordingly and a liability equivalent to each option’s exercise price is recognized, with any difference between these two amounts recorded in Share premium. |
Changes in accounting policies
Changes in accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Significant Accounting Policies [Line Items] | |
Disclosure Of Changes In Accounting Policies Explanatory | Reconciliation between operating lease commitments disclosed under IAS 17 and lease liabilities recognized under IFRS 16 USD million Total undiscounted operating lease commitments as of 31 December 2018 4,688 Leases with a remaining term of less than one year as of 1 January 2019 (18) Excluded service components (296) Reassessment of lease term for extension or termination options 403 Total undiscounted lease payments 4,777 Discounted at a weighted average incremental borrowing rate of 3.07% (744) IFRS 16 transition adjustment 4,033 Finance lease liabilities as of 31 December 2018 24 Carrying amount of total lease liabilities as of 1 January 2019 4,057 Determination of RoU assets on transition USD million Carrying amount Recognition of gross RoU assets upon adoption of IFRS 16 (IFRS 16 transition adjustment) 4,033 Offset by liabilities recognized as of 31 December 2018 (521) of which: other non-financial liabilities (lease incentives) (204) of which: other financial liabilities measured at amortized cost (rent accruals) (185) of which: provisions (onerous lease provisions) (132) Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 1 3,512 Reclassification of assets recognized as of 31 December 2018 as an addition to RoU assets 43 of which: other financial assets measured at amortized cost (finance lease assets recognized under IAS 17 as of 31 December 2018) 24 of which: other non-financial assets (prepaid rent) 19 Reclassification of finance lease receivables from sub-leases to other financial assets measured at amortized cost resulting in a reduction of RoU assets (176) Total RoU assets as of 1 January 2019 presented within Property, equipment and software 3,378 1 Total liabilities increased by the same amount upon adoption of IFRS 16. Changes to the presentation of dividend income and expense from financial instruments measured at fair value through profit or loss For the year ended USD million 31.12.18 31.12.17 Interest income from financial instruments measured at fair value through profit or loss (2,308) (1,762) Interest expense from financial instruments measured at fair value through profit or loss 1,331 1,190 Net interest income (976) (572) Other net income from financial instruments measured at fair value through profit or loss 976 572 |
UBS AG | |
Disclosure Significant Accounting Policies [Line Items] | |
Disclosure Of Changes In Accounting Policies Explanatory | Changes to the presentation of dividend income and expense from financial instruments measured at fair value through profit or loss For the year ended USD million 31.12.18 31.12.17 Interest income from financial instruments measured at fair value through profit or loss (2,308) (1,762) Interest expense from financial instruments measured at fair value through profit or loss 1,331 1,190 Net interest income (976) (572) Other net income from financial instruments measured at fair value through profit or loss 976 572 Reconciliation between operating lease commitments disclosed under IAS 17 and lease liabilities recognized under IFRS 16 USD million Total undiscounted operating lease commitments as of 31 December 2018 4,546 Leases with a remaining term of less than one year as of 1 January 2019 (18) Excluded service components (296) Reassessment of lease term for extension or termination options 424 Total undiscounted lease payments 4,657 Discounted at a weighted average incremental borrowing rate of 3.07% (720) IFRS 16 transition adjustment 3,937 Finance lease liabilities as of 31 December 2018 19 Carrying amount of total lease liabilities as of 1 January 2019 3,956 Determination of RoU assets on transition USD million Carrying amount Recognition of gross RoU assets upon adoption of IFRS 16 (IFRS 16 transition adjustment) 3,937 Offset by liabilities recognized as of 31 December 2018 (515) of which: other non-financial liabilities (lease incentives) (204) of which: other financial liabilities measured at amortized cost (rent accruals) (180) of which: provisions (onerous lease provisions) (131) Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 1 3,422 Reclassification of assets recognized as of 31 December 2018 as an addition to RoU assets 38 of which: other financial assets measured at amortized cost (finance lease assets recognized under IAS 17 as of 31 December 2018) 19 of which: other non-financial assets (prepaid rent) 19 Reclassification of finance lease receivables from sub-leases to other financial assets measured at amortized cost resulting in a reduction of RoU assets (176) Total RoU assets as of 1 January 2019 presented within Property, equipment and software 3,284 1 Total liabilities increased by the same amount upon adoption of IFRS 16. |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Operating Segments Explanatory | Effects of changes in Corporate Center cost and resource allocation to business divisions on prior-period information USD million increase / (reduction) Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS For the year ended 31 December 2018 Operating profit / (loss) before tax (374) (116) (25) (163) 677 0 Total assets 113,702 61,894 3,769 43,562 (222,927) 0 For the year ended 31 December 2017 Operating profit / (loss) before tax (351) (133) (24) (180) 689 0 Total assets 102,641 58,196 3,329 41,628 (205,795) 0 Segment reporting USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS For the year ended 31 December 2019 1 Net interest income 2 3,947 1,992 (25) (669) (744) 4,501 Non-interest income 2 12,426 1,744 1,962 7,968 367 24,467 Income 16,373 3,736 1,938 7,299 (378) 28,967 Credit loss (expense) / recovery (20) (21) 0 (30) (7) (78) Total operating income 16,353 3,715 1,938 7,269 (385) 28,889 Personnel expenses 7,621 856 722 2,748 4,137 16,084 General and administrative expenses 1,217 224 197 688 2,962 5,288 Services (to) / from Corporate Center and other business divisions 4,056 1,181 486 2,926 (8,648) 0 of which: services from Corporate Center 3,922 1,294 531 2,980 (8,727) 0 Depreciation and impairment of property, equipment and software 5 13 1 8 1,738 1,765 Amortization and impairment of goodwill and intangible assets 3 56 0 0 115 4 175 Total operating expenses 12,955 2,274 1,406 6,485 192 23,312 Operating profit / (loss) before tax 3,397 1,441 532 784 (577) 5,577 Tax expense / (benefit) 1,267 Net profit / (loss) 4,310 Additional information Total assets 309,766 209,405 34,565 315,855 102,592 972,183 Additions to non-current assets 4 68 10 0 1 5,217 5,297 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. 3 Refer to Note 16 for more information. 4 Upon adoption of IFRS 16 on 1 January 2019, UBS additionally allocated approximately USD 3.5 billion of newly recognized assets to the business divisions, of which USD 3.4 billion related to non-current assets. Refer to Note 1b for more information. USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS For the year ended 31 December 2018 1 Net interest income 2 4,101 2,049 (29) (459) (613) 5,048 Non-interest income 2 12,700 2,168 1,881 8,538 (4) 25,283 Income 16,800 4,217 1,852 8,079 (617) 30,330 Credit loss (expense) / recovery (15) (56) 0 (38) (8) (118) Total operating income 16,785 4,161 1,852 8,041 (626) 30,213 Personnel expenses 7,683 803 703 2,941 4,002 16,132 General and administrative expenses 1,724 285 202 651 3,935 6,797 Services (to) / from Corporate Center and other business divisions 4,070 1,263 518 2,942 (8,793) 0 of which: services from Corporate Center 3,936 1,367 563 2,995 (8,861) 0 Depreciation and impairment of property, equipment and software 4 14 2 8 1,199 1,228 Amortization and impairment of goodwill and intangible assets 3 50 0 1 12 2 65 Total operating expenses 13,531 2,365 1,426 6,554 346 24,222 Operating profit / (loss) before tax 3,254 1,796 426 1,486 (971) 5,991 Tax expense / (benefit) 1,468 Net profit / (loss) 4,522 Additional information Total assets 313,737 200,703 28,140 302,253 113,656 958,489 Additions to non-current assets 196 23 1 89 1,666 1,975 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. 3 Refer to Note 16 for more information. USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS For the year ended 31 December 2017 1 Net interest income 2 3,880 2,044 (23) 234 (64) 6,070 Non-interest income 2 12,265 1,814 2,100 7,508 (4) 23,683 Income 3 16,144 3,859 2,077 7,742 (68) 29,754 Credit loss (expense) / recovery (8) (20) 0 (92) (11) (131) Total operating income 16,136 3,839 2,077 7,650 (80) 29,622 Personnel expenses 7,674 852 731 3,006 3,935 16,199 General and administrative expenses 1,263 296 235 675 4,479 6,949 Services (to) / from Corporate Center and other business divisions 3,926 1,203 543 2,860 (8,532) 0 of which: services from Corporate Center 3,803 1,321 582 2,894 (8,601) 0 Depreciation and impairment of property, equipment and software 4 13 1 10 1,024 1,053 Amortization and impairment of goodwill and intangible assets 4 49 0 3 12 7 71 Total operating expenses 12,917 2,364 1,514 6,563 913 24,272 Operating profit / (loss) before tax 3,219 1,475 563 1,087 (993) 5,351 Tax expense / (benefit) 4,305 Net profit / (loss) 1,046 Additional information Total assets 297,631 197,258 17,968 311,359 115,064 939,279 Additions to non-current assets 120 15 1 3 1,607 1,746 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. 3 Includes 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 of USD 15 million, of which USD 12 million was recorded in Asset Management. 4 Refer to Note 16 for more information. |
UBS AG | |
Disclosure Of Operating Segments [Line Items] | |
Disclosure Of Operating Segments Explanatory | Effects of changes in Corporate Center cost and resource allocation to business divisions on prior-period information USD million increase / (reduction) Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG For the year ended 31 December 2018 Operating profit / (loss) before tax (374) (116) (25) (163) 677 0 Total assets 113,702 61,894 3,769 43,562 (222,927) 0 For the year ended 31 December 2017 Operating profit / (loss) before tax (351) (133) (24) (180) 689 0 Total assets 102,641 58,196 3,329 41,628 (205,795) 0 Segment reporting USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG For the year ended 31 December 2019 1 Net interest income 2 3,947 1,993 (25) (669) (831) 4,415 Non-interest income 2 12,426 1,745 1,962 7,967 869 24,970 Income 16,373 3,737 1,938 7,298 38 29,385 Credit loss (expense) / recovery (20) (21) 0 (30) (7) (78) Total operating income 16,353 3,717 1,938 7,268 31 29,307 Personnel expenses 7,618 852 720 2,732 1,879 13,801 General and administrative expenses 1,283 229 201 738 6,135 8,586 Services (to) / from Corporate Center and other business divisions 4,055 1,179 485 2,922 (8,642) 0 of which: services from Corporate Center 3,922 1,293 530 2,976 (8,721) 0 Depreciation and impairment of property, equipment and software 5 13 1 8 1,549 1,576 Amortization and impairment of goodwill and intangible assets 3 56 0 0 115 4 175 Total operating expenses 13,018 2,274 1,407 6,515 925 24,138 Operating profit / (loss) before tax 3,335 1,443 531 753 (893) 5,169 Tax expense / (benefit) 1,198 Net profit / (loss) 3,971 Additional information Total assets 309,766 209,512 34,565 316,058 102,017 971,916 Additions to non-current assets 4 68 10 0 1 4,935 5,014 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. 3 Refer to Note 16 for more information. 4 Upon adoption of IFRS 16 on 1 January 2019, UBS AG additionally allocated approximately USD 3.4 billion of newly recognized assets to the business divisions, of which USD 3.3 billion related to non-current assets. Refer to Note 1b for more information. USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG For the year ended 31 December 2018 1 Net interest income 2 4,101 2,049 (29) (459) (690) 4,971 Non-interest income 2 12,700 2,169 1,881 8,539 499 25,788 Income 16,801 4,218 1,852 8,080 (191) 30,759 Credit loss (expense) / recovery (15) (56) 0 (38) (8) (117) Total operating income 16,786 4,162 1,852 8,042 (199) 30,642 Personnel expenses 7,680 799 702 2,936 1,875 13,992 General and administrative expenses 1,771 289 206 706 7,104 10,075 Services (to) / from Corporate Center and other business divisions 4,069 1,261 516 2,938 (8,784) 0 of which: services from Corporate Center 3,935 1,365 561 2,991 (8,852) 0 Depreciation and impairment of property, equipment and software 4 14 2 8 1,023 1,052 Amortization and impairment of goodwill and intangible assets 3 50 0 1 12 2 65 Total operating expenses 13,574 2,363 1,427 6,600 1,220 25,184 Operating profit / (loss) before tax 3,212 1,799 425 1,442 (1,419) 5,458 Tax expense / (benefit) 1,345 Net profit / (loss) 4,113 Additional information Total assets 313,737 200,767 28,140 302,434 112,977 958,055 Additions to non-current assets 196 23 1 89 1,449 1,757 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. 3 Refer to Note 16 for more information. USD million Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Corporate Center UBS AG For the year ended 31 December 2017 1 Net interest income 2 3,880 2,044 (23) 234 (114) 6,021 Non-interest income 2 12,265 1,815 2,100 7,508 466 24,155 Income 3 16,145 3,859 2,077 7,742 352 30,176 Credit loss (expense) / recovery (8) (20) 0 (92) (11) (131) Total operating income 16,137 3,839 2,077 7,651 341 30,044 Personnel expenses 7,679 849 731 3,007 2,686 14,952 General and administrative expenses 1,308 300 238 728 6,426 9,001 Services (to) / from Corporate Center and other business divisions 3,926 1,200 541 2,858 (8,525) 0 of which: services from Corporate Center 3,803 1,318 580 2,892 (8,593) 0 Depreciation and impairment of property, equipment and software 4 13 1 10 916 945 Amortization and impairment of goodwill and intangible assets 4 49 0 3 12 7 71 Total operating expenses 12,966 2,363 1,515 6,614 1,510 24,969 Operating profit / (loss) before tax 3,171 1,476 562 1,036 (1,169) 5,076 Tax expense / (benefit) 4,242 Net profit / (loss) 834 Additional information Total assets 297,631 197,290 17,968 311,477 115,654 940,020 Additions to non-current assets 120 15 1 3 1,509 1,648 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. 2 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. 3 Includes 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 of USD 15 million, of which USD 12 million was recorded in Asset Management. 4 Refer to Note 16 for more information. |
Segment reporting by geographic
Segment reporting by geographic location (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting By Geographic Location [Line Items] | |
Disclosure Of Geographical Areas Explanatory | For the year ended 31 December 2019 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.0 42 8.9 44 of which: USA 10.9 38 8.5 42 Asia Pacific 4.7 16 1.4 7 Europe, Middle East and Africa (excluding Switzerland) 5.8 20 3.0 15 Switzerland 6.7 23 7.1 35 Global (0.4) (1) 0.0 0 Total 28.9 100 20.3 100 For the year ended 31 December 2018 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.6 42 7.4 43 of which: USA 11.5 38 7.0 41 Asia Pacific 4.9 16 0.9 5 Europe, Middle East and Africa (excluding Switzerland) 6.2 21 2.0 12 Switzerland 7.2 24 6.8 40 Global (0.7) (2) 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 12.0 41 7.4 44 of which: USA 11.2 38 6.9 41 Asia Pacific 4.8 16 0.8 5 Europe, Middle East and Africa (excluding Switzerland) 6.1 21 2.0 12 Switzerland 6.9 23 6.5 40 Global (0.2) (1) 0.0 0 Total 29.6 100 16.7 100 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. |
UBS AG | |
Segment Reporting By Geographic Location [Line Items] | |
Disclosure Of Geographical Areas Explanatory | For the year ended 31 December 2019 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.0 41 8.9 46 of which: USA 10.9 37 8.5 44 Asia Pacific 4.7 16 1.3 7 Europe, Middle East and Africa (excluding Switzerland) 5.8 20 2.6 13 Switzerland 6.7 23 6.5 34 Global 0.0 0 0.0 0 Total 29.3 100 19.3 100 For the year ended 31 December 2018 1 Total operating income Total non-current assets USD billion Share % USD billion Share % Americas 12.6 41 7.4 46 of which: USA 11.5 37 7.0 43 Asia Pacific 4.9 16 0.8 5 Europe, Middle East and Africa (excluding Switzerland) 6.2 20 1.8 11 Switzerland 7.2 23 6.2 38 Global (0.3) (1) 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 12.0 40 7.4 47 of which: USA 11.2 37 6.9 44 Asia Pacific 4.8 16 0.8 5 Europe, Middle East and Africa (excluding Switzerland) 6.1 20 1.7 10 Switzerland 6.9 23 6.0 38 Global 0.2 1 0.0 0 Total 30.0 100 15.8 100 1 Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b. |
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, 2019 | |
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 financial instruments measured at fair value through profit or loss For the year ended USD million 31.12.19 31.12.18 31.12.17 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,490 3,710 5,018 Net interest income from financial instruments measured at fair value through profit or loss 1,011 1,338 1,052 Other net income from financial instruments measured at fair value through profit or loss 6,842 6,960 5,637 Total 11,343 12,008 11,707 Global Wealth Management 4,913 5,049 4,941 of which: net interest income 3,947 4,101 3,880 of which: transaction-based income from foreign exchange and other intermediary activity 1 966 948 1,062 Personal & Corporate Banking 2,436 2,451 2,420 of which: net interest income 1,992 2,049 2,044 of which: transaction-based income from foreign exchange and other intermediary activity 1 443 402 376 Asset Management (13) (35) (34) Investment Bank 4,189 4,756 4,272 Corporate Client Solutions 716 1,051 1,076 Investor Client Services 3,473 3,705 3,196 Corporate Center (182) (214) 107 Net interest income 2,3 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income Interest income from loans and deposits 4 8,008 7,801 7,752 Interest income from securities financing transactions 5 2,005 1,567 1,573 Interest income from other financial instruments measured at amortized cost 364 266 99 Interest income from debt instruments measured at fair value through other comprehensive income 120 142 152 Interest income from derivative instruments designated as cash flow hedges 188 324 846 Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 10,684 10,100 10,422 Interest expense on loans and deposits 6 2,634 1,980 1,404 Interest expense on securities financing transactions 7 1,152 1,130 1,473 Interest expense on debt issued 3,285 3,281 2,528 Interest expense on lease liabilities 8 122 Total interest expense from financial instruments measured at amortized cost 7,194 6,391 5,404 Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,490 3,710 5,018 Net interest income from financial instruments measured at fair value through profit or loss Net interest income from financial instruments at fair value held for trading 1,214 1,105 1,374 Net interest income from brokerage balances 339 575 Interest income from financial instruments at fair value not held for trading 2,274 1,757 Other interest income 185 215 0 Interest expense on financial instruments designated at fair value (3,000) (2,314) (322) Total net interest income from financial instruments measured at fair value through profit or loss 1,011 1,338 1,052 Total net interest income 4,501 5,048 6,070 Other net income from financial instruments measured at fair value through profit or loss Investment Bank Corporate Client Solutions 229 552 633 Investment Bank Investor Client Services 4,630 4,663 3,405 Other business divisions and Corporate Center 1,984 1,744 1,599 Other net income from financial instruments measured at fair value through profit or loss 6,842 6,960 5,637 of which: net gains / (losses) from financial liabilities designated at fair value 9 (8,748) 9,382 (3,979) 1 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 financial instruments measured at fair value through profit or loss. 2 Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. 3 Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 4 Consists of interest income from cash and balances at central banks, loans and advances to banks and customers, cash collateral receivables on derivative instruments, and negative interest on amounts due to banks and customer deposits. 5 Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. 6 Consists of interest expense on amounts due to banks, cash collateral payables on derivative instruments, customer deposits, and negative interest on cash and balances at central banks, loans and advances to banks. 7 Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. 8 Relates to lease liabilities recognized upon adoption of IFRS 16 on 1 January 2019. Refer to Note 1b for more information. 9 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 financial instruments measured at fair value through profit or loss. 2019 included a net loss of USD 1,830 million (2018: net gain of USD 2,152 million) related to financial liabilities related to unit-linked investment contracts, which are designated at fair value through profit or loss. This was offset by a net gain of USD 1,830 million (2018: net loss of USD 2,134 million) related to financial assets for unit-linked investment contracts that are mandatorily measured at fair value through profit or loss not held for trading. |
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 financial instruments measured at fair value through profit or loss For the year ended USD million 31.12.19 31.12.18 31.12.17 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,400 3,628 4,969 Net interest income from financial instruments measured at fair value through profit or loss 1,015 1,344 1,052 Other net income from financial instruments measured at fair value through profit or loss 6,833 6,953 5,640 Total 11,248 11,924 11,661 Global Wealth Management 4,913 5,050 4,942 of which: net interest income 3,947 4,101 3,880 of which: transaction-based income from foreign exchange and other intermediary activity 1 966 948 1,062 Personal & Corporate Banking 2,436 2,452 2,420 of which: net interest income 1,993 2,049 2,044 of which: transaction-based income from foreign exchange and other intermediary activity 1 443 402 376 Asset Management (13) (35) (34) Investment Bank 4,187 4,757 4,273 Corporate Client Solutions 716 1,051 1,076 Investor Client Services 3,471 3,705 3,197 Corporate Center (276) (299) 60 Net interest income 2,3 Net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income Interest income from loans and deposits 4 8,026 7,822 7,766 Interest income from securities financing transactions 5 2,005 1,567 1,573 Interest income from other financial instruments measured at amortized cost 364 266 99 Interest income from debt instruments measured at fair value through other comprehensive income 120 142 152 Interest income from derivative instruments designated as cash flow hedges 188 324 846 Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 10,703 10,121 10,437 Interest expense on loans and deposits 6 4,541 3,566 2,515 Interest expense on securities financing transactions 7 1,152 1,130 1,473 Interest expense on debt issued 1,491 1,797 1,480 Interest expense on lease liabilities 8 118 Total interest expense from financial instruments measured at amortized cost 7,303 6,494 5,468 Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,400 3,628 4,969 Net interest income from financial instruments measured at fair value through profit or loss Net interest income from financial instruments at fair value held for trading 1,218 1,111 1,374 Net interest income from brokerage balances 339 575 Interest income from financial instruments at fair value not held for trading 2,274 1,757 Other interest income 185 215 0 Interest expense on financial instruments designated at fair value (3,000) (2,314) (322) Total net interest income from financial instruments measured at fair value through profit or loss 1,015 1,344 1,052 Total net interest income 4,415 4,971 6,021 Other net income from financial instruments measured at fair value through profit or loss Investment Bank Corporate Client Solutions 229 552 633 Investment Bank Investor Client Services 4,628 4,663 3,406 Other business divisions and Corporate Center 1,976 1,737 1,601 Other net income from financial instruments measured at fair value through profit or loss 6,833 6,953 5,640 of which: net gains / (losses) from financial liabilities designated at fair value 9 (8,748) 9,382 (3,979) 1 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 financial instruments measured at fair value through profit or loss. 2 Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. 3 Effective 1 January 2019, UBS AG refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 4 Consists of interest income from cash and balances at central banks, loans and advances to banks and customers, cash collateral receivables on derivative instruments, and negative interest on amounts due to banks and customer deposits. 5 Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. 6 Consists of interest expense on amounts due to banks, cash collateral payables on derivative instruments, customer deposits, funding from UBS Group AG and its subsidiaries, and negative interest on cash and balances at central banks, loans and advances to banks. 7 Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. 8 Relates to lease liabilities recognized upon adoption of IFRS 16 on 1 January 2019. Refer to Note 1b for more information. 9 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 financial instruments measured at fair value through profit or loss. 2019 included a net loss of USD 1,830 million (2018: net gain of USD 2,152 million) related to financial liabilities related to unit-linked investment contracts, which are designated at fair value through profit or loss. This was offset by a net gain of USD 1,830 million (2018: net loss of USD 2,134 million) related to financial assets for unit-linked investment contracts that are mandatorily measured at fair value through profit or loss not held for trading. |
Net fee and commission income (
Net fee and commission income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 31.12.17 Fee and commission income Underwriting fees 741 811 1,003 of which: equity underwriting fees 360 431 573 of which: debt underwriting fees 382 380 429 M&A and corporate finance fees 774 768 698 Brokerage fees 3,248 3,521 3,820 Investment fund fees 4,858 4,954 4,322 Portfolio management and related services 7,656 7,756 7,666 Other 1,832 1,786 1,854 Total fee and commission income 1 19,110 19,598 19,362 of which: recurring 12,544 12,911 of which: transaction-based 6,402 6,594 of which: performance-based 163 93 Fee and commission expense Brokerage fees paid 310 316 673 Distribution fees paid 590 580 514 Other 797 807 653 Total fee and commission expense 1,696 1,703 1,840 Net fee and commission income 17,413 17,895 17,522 of which: net brokerage fees 2,938 3,205 3,147 1 For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,355 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 94 million for Corporate Center (for the year ended 31 December 2018: 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 31.12.19 31.12.18 31.12.17 Fee and commission income Underwriting fees 784 843 1,029 of which: equity underwriting fees 360 431 573 of which: debt underwriting fees 424 412 456 M&A and corporate finance fees 774 768 698 Brokerage fees 3,248 3,521 3,821 Investment fund fees 4,859 4,955 4,322 Portfolio management and related services 7,656 7,756 7,666 Other 1,836 1,789 1,854 Total fee and commission income 1 19,156 19,632 19,390 of which: recurring 12,545 12,911 of which: transaction-based 6,449 6,629 of which: performance-based 163 93 Fee and commission expense Brokerage fees paid 310 316 673 Distribution fees paid 590 580 514 Other 796 807 653 Total fee and commission expense 1,696 1,703 1,840 Net fee and commission income 17,460 17,930 17,550 of which: net brokerage fees 2,938 3,205 3,148 1 For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,397 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 98 million for Corporate Center (for the year ended 31 December 2018: 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, 2019 | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended USD million 31.12.19 31.12.18 31.12.17 Associates, joint ventures and subsidiaries Net gains / (losses) from acquisitions and disposals of subsidiaries 1 (36) (290) 2,3 32 Net gains / (losses) from disposals of investments in associates 4 46 4 0 Share of net profits of associates and joint ventures 46 529 5 76 Impairments related to associates (1) 0 (7) Total 13 284 101 Net gains / (losses) from disposals of financial assets measured at fair value through other comprehensive income 31 0 195 Impairment of financial assets measured at fair value through other comprehensive income 0 0 (15) Net gains / (losses) from disposals of financial assets measured at amortized cost 0 0 14 Income from properties 6 27 24 24 Net gains / (losses) from properties held for sale (19) 40 0 Other 160 80 204 Total other income 212 428 524 1 Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to the disposal or closure of foreign operations. 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 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. 6 Includes rent received from third parties. |
UBS AG | |
Other Income [Line Items] | |
Disclosure Of Other Operating Income Explanatory | Note 5 Other income For the year ended USD million 31.12.19 31.12.18 31.12.17 Associates, joint ventures and subsidiaries Net gains / (losses) from acquisitions and disposals of subsidiaries 1 (36) (292) 2,3 32 Net gains / (losses) from disposals of investments in associates 4 46 4 0 Share of net profits of associates and joint ventures 46 529 5 76 Impairments related to associates (1) 0 (7) Total 13 283 101 Net gains / (losses) from disposals of financial assets measured at fair value through other comprehensive income 31 0 195 Impairment of financial assets measured at fair value through other comprehensive income 0 0 (15) Net gains / (losses) from disposals of financial assets measured at amortized cost 0 0 14 Income from properties 6 27 24 24 Net gains / (losses) from properties held for sale (19) 40 0 Income from shared services provided to UBS Group AG or its subsidiaries 464 478 395 Other 161 80 251 Total other income 677 905 965 1 Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to the disposal or closure of foreign operations. 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 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. 6 Includes rent received from third parties. |
Personnel expenses (Tables)
Personnel expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended USD million 31.12.19 31.12.18 31.12.17 Salaries 1 6,518 6,448 6,154 Variable compensation – performance awards 2 2,755 2,995 3,151 of which: guarantees for new hires 29 43 36 Variable compensation – other 2 246 243 252 of which: replacement payments 3 56 72 72 of which: forfeiture credits (86) (136) (107) of which: severance payments 4 125 123 113 of which: retention plan and other payments 56 66 63 of which: Deferred Contingent Capital Plan – interest expense 94 119 111 Financial advisor compensation 2,5 4,043 4,054 4,064 Contractors 381 489 460 Social security 799 791 814 Pension and other post-employment benefit plans 787 457 6 723 Other personnel expenses 555 654 581 Total personnel expenses 16,084 16,132 16,199 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 Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated on the basis of financial advisor productivity, firm tenure, 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. |
UBS AG | |
Personnel Expenses [Line Items] | |
Disclosure Of Employee Benefits Explanatory | Note 6 Personnel expenses For the year ended USD million 31.12.19 31.12.18 31.12.17 Salaries 1 5,183 5,199 5,423 Variable compensation – performance awards 2 2,545 2,794 3,054 of which: guarantees for new hires 29 43 36 Variable compensation – other 2 225 220 231 of which: replacement payments 3 55 68 70 of which: forfeiture credits (84) (136) (106) of which: severance payments 4 110 106 95 of which: retention plan and other payments 52 64 62 of which: Deferred Contingent Capital Plan – interest expense 93 116 110 Financial advisor compensation 2,5 4,043 4,054 4,064 Contractors 147 184 318 Social security 627 629 731 Pension and other post-employment benefit plans 6 569 363 601 Other personnel expenses 461 549 531 Total personnel expenses 13,801 13,992 14,952 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 Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated on the basis of financial advisor productivity, firm tenure, 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 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. |
General and administrative ex_2
General and administrative expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 31.12.17 Occupancy 1 381 914 908 Rent and maintenance of IT and other equipment 718 654 570 Communication and market data services 627 638 622 Administration 551 590 612 of which: UK and German bank levies 2 41 58 20 Marketing and public relations 317 366 419 Travel and entertainment 378 425 425 Professional fees 882 1,015 1,227 Outsourcing of IT and other services 1,158 1,427 1,597 Litigation, regulatory and similar matters 3 165 657 434 Other 111 110 135 Total general and administrative expenses 5,288 6,797 6,949 1 Occupancy expenses decreased following the application of IFRS 16, which was adopted on 1 January 2019. Refer to Note 1b for more information. 2 The UK bank levy expenses of USD 30 million (USD 40 million for 2018 and USD 17 million for 2017) included a credit of USD 31 million (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 11 million, USD 29 million and USD 55 million for the years ended 31 December 2019, 31 December 2018 and 31 December 2017, 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 31.12.19 31.12.18 31.12.17 Occupancy 1 342 852 865 Rent and maintenance of IT and other equipment 339 326 422 Communication and market data services 517 520 544 Administration 5,176 5,383 3,644 of which: shared services costs charged by UBS Group AG or its subsidiaries 4,621 4,803 3,046 of which: UK and German bank levies 2 41 58 20 Marketing and public relations 233 277 338 Travel and entertainment 325 367 382 Professional fees 782 870 1,086 Outsourcing of IT and other services 610 729 1,169 Litigation, regulatory and similar matters 3 165 657 434 Other 97 95 118 Total general and administrative expenses 8,586 10,075 9,001 1 Occupancy expenses decreased following the application of IFRS 16, which was adopted on 1 January 2019. Refer to Note 1b for more information. 2 The UK bank levy expenses of USD 30 million (USD 40 million for 2018 and USD 17 million for 2017) included a credit of USD 31 million (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 11 million, USD 29 million and USD 55 million for the years ended 31 December 2019, 31 December 2018 and 31 December 2017, respectively. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Income Taxes [Line Items] | |
Disclosure Of Income Tax By Geographical Areas Explanatory | For the year ended USD million 31.12.19 31.12.18 31.12.17 Tax expense / (benefit) Swiss Current 365 469 455 Deferred 265 2,377 107 Total Swiss 630 2,846 562 Non-Swiss Current 426 575 435 Deferred 211 (1,953) 3,308 Total non-Swiss 637 (1,378) 3,743 Total income tax expense / (benefit) recognized in the income statement 1,267 1,468 4,305 |
Disclosure of tax expense/(benefit) recognized and its relationship with accounting profit [text block] | For the year ended USD million 31.12.19 31.12.18 31.12.17 Operating profit / (loss) before tax 5,577 5,991 5,351 of which: Swiss 2,571 1,843 2,093 of which: non-Swiss 3,006 4,148 3,258 Income taxes at Swiss tax rate of 20.5% for 2019 and 21% for 2018 and 2017 1,143 1,258 1,124 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 82 55 217 Tax effects of losses not recognized 131 223 173 Previously unrecognized tax losses now utilized (265) (25) (368) Non-taxable and lower taxed income (351) (430) (309) Non-deductible expenses and additional taxable income 732 905 606 Adjustments related to prior years – current tax (5) 114 (13) Adjustments related to prior years – deferred tax (6) 26 4 Change in deferred tax recognition (294) (795) (165) Adjustments to deferred tax balances arising from changes in tax rates (9) 0 2,897 Other items 107 137 139 Income tax expense / (benefit) 1,267 1,468 4,305 |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Explanatory | USD million 31.12.19 31.12.18 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 14,826 (8,861) 5,965 15,088 (8,989) 6,099 Temporary differences 4,186 (613) 3,572 4,571 (565) 4,006 of which: related to real estate costs capitalized for US tax purposes 2,219 0 2,219 2,159 (25) 2,134 of which: related to compensation and benefits 1,080 (179) 901 1,150 (192) 959 of which: related to trading assets 99 (5) 93 390 (50) 339 of which: related to investments in subsidiaries and goodwill 6 0 6 202 0 202 of which: other 782 (429) 353 670 (298) 372 Total deferred tax assets 19,011 (9,474) 9,537 19,659 (9,554) 10,105 Deferred tax liabilities Goodwill and intangible assets 29 26 Cash flow hedges 156 0 Other 126 62 Total deferred tax liabilities 311 88 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 31.12.19 31.12.18 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 14,826 (8,861) 5,965 15,088 (8,989) 6,099 Temporary differences 4,186 (613) 3,572 4,571 (565) 4,006 of which: related to real estate costs capitalized for US tax purposes 2,219 0 2,219 2,159 (25) 2,134 of which: related to compensation and benefits 1,080 (179) 901 1,150 (192) 959 of which: related to trading assets 99 (5) 93 390 (50) 339 of which: related to investments in subsidiaries and goodwill 6 0 6 202 0 202 of which: other 782 (429) 353 670 (298) 372 Total deferred tax assets 19,011 (9,474) 9,537 19,659 (9,554) 10,105 Deferred tax liabilities Goodwill and intangible assets 29 26 Cash flow hedges 156 0 Other 126 62 Total deferred tax liabilities 311 88 1 Less deferred tax liabilities as applicable. |
Disclosure of unrecognized tax loss carry-forwards | Unrecognized tax loss carry-forwards USD million 31.12.19 31.12.18 Within 1 year 13 0 From 2 to 5 years 609 464 From 6 to 10 years 14,712 16,297 From 11 to 20 years 4,030 4,457 No expiry 18,364 17,210 Total 37,728 38,428 |
UBS AG | |
Disclosure Of Income Taxes [Line Items] | |
Disclosure Of Income Tax By Geographical Areas Explanatory | For the year ended USD million 31.12.19 31.12.18 31.12.17 Tax expense / (benefit) Swiss Current 336 434 408 Deferred 246 2,326 91 Total Swiss 582 2,760 499 Non-Swiss Current 402 537 435 Deferred 214 (1,952) 3,308 Total non-Swiss 616 (1,415) 3,743 Total income tax expense / (benefit) recognized in the income statement 1,198 1,345 4,242 |
Disclosure of tax expense/(benefit) recognized and its relationship with accounting profit [text block] | For the year ended USD million 31.12.19 31.12.18 31.12.17 Operating profit / (loss) before tax 5,169 5,458 5,076 of which: Swiss 2,297 1,427 1,911 of which: non-Swiss 2,872 4,031 3,165 Income taxes at Swiss tax rate of 20.5% for 2019 and 21% for 2018 and 2017 1,060 1,146 1,066 Increase / (decrease) resulting from: Non-Swiss tax rates differing from Swiss tax rate 72 68 230 Tax effects of losses not recognized 131 222 173 Previously unrecognized tax losses now utilized (265) (25) (368) Non-taxable and lower taxed income (305) (419) (306) Non-deductible expenses and additional taxable income 713 883 588 Adjustments related to prior years – current tax 1 114 (14) Adjustments related to prior years – deferred tax (6) 27 6 Change in deferred tax recognition (293) (802) (165) Adjustments to deferred tax balances arising from changes in tax rates (9) 0 2,897 Other items 99 130 135 Income tax expense / (benefit) 1,198 1,345 4,242 |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits Explanatory | USD million 31.12.19 31.12.18 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 14,826 (8,861) 5,965 15,088 (8,989) 6,099 Temporary differences 4,158 (610) 3,548 4,526 (559) 3,967 of which: related to real estate costs capitalized for US tax purposes 2,219 0 2,219 2,159 (25) 2,134 of which: related to compensation and benefits 1,075 (179) 896 1,146 (192) 954 of which: related to trading assets 99 (5) 93 390 (50) 339 of which: related to investments in subsidiaries and goodwill 0 0 0 179 0 179 of which: other 765 (426) 340 653 (292) 361 Total deferred tax assets 18,984 (9,471) 9,513 19,614 (9,548) 10,066 Deferred tax liabilities Goodwill and intangible assets 29 26 Cash flow hedges 156 0 Other 126 62 Total deferred tax liabilities 311 88 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 31.12.19 31.12.18 Deferred tax assets 1 Gross Valuation allowance Recognized Gross Valuation allowance Recognized Tax loss carry-forwards 14,826 (8,861) 5,965 15,088 (8,989) 6,099 Temporary differences 4,158 (610) 3,548 4,526 (559) 3,967 of which: related to real estate costs capitalized for US tax purposes 2,219 0 2,219 2,159 (25) 2,134 of which: related to compensation and benefits 1,075 (179) 896 1,146 (192) 954 of which: related to trading assets 99 (5) 93 390 (50) 339 of which: related to investments in subsidiaries and goodwill 0 0 0 179 0 179 of which: other 765 (426) 340 653 (292) 361 Total deferred tax assets 18,984 (9,471) 9,513 19,614 (9,548) 10,066 Deferred tax liabilities Goodwill and intangible assets 29 26 Cash flow hedges 156 0 Other 126 62 Total deferred tax liabilities 311 88 1 Less deferred tax liabilities as applicable. |
Disclosure of unrecognized tax loss carry-forwards | Unrecognized tax loss carry-forwards USD million 31.12.19 31.12.18 Within 1 year 13 0 From 2 to 5 years 609 464 From 6 to 10 years 14,712 16,297 From 11 to 20 years 4,030 4,457 No expiry 18,364 17,210 Total 37,728 38,428 |
Earnings per share and shares_2
Earnings per share and shares outstanding (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share And Shares Outstanding [Line Items] | |
Disclosure Of Earnings Per Share Explanatory | As of or for the year ended 31.12.19 31.12.18 31.12.17 Basic earnings (USD million) Net profit / (loss) attributable to shareholders 4,304 4,516 969 Diluted earnings (USD million) Net profit / (loss) attributable to shareholders 4,304 4,516 969 Less: (profit) / loss on own equity derivative contracts 0 (2) 0 Net profit / (loss) attributable to shareholders for diluted EPS 4,304 4,514 969 Weighted average shares outstanding Weighted average shares outstanding for basic EPS 1 3,663,278,238 3,730,297,877 3,716,174,261 Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding 103,881,600 111,271,269 120,540,272 Weighted average shares outstanding for diluted EPS 3,767,159,838 3,841,569,146 3,836,714,533 Earnings per share (USD) Basic 1.17 1.21 0.26 Diluted 1.14 1.18 0.25 Shares outstanding Shares issued 3,859,055,395 3,855,634,749 3,853,096,603 Treasury shares 243,021,296 166,467,802 132,301,550 Shares outstanding 3,616,034,099 3,689,166,947 3,720,795,053 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 31.12.19 31.12.18 31.12.17 Potentially dilutive instruments Employee share-based compensation awards 1 3,605,198 24,124,341 Other equity derivative contracts 21,632,879 11,912,450 9,122,496 Total 21,632,879 15,517,648 33,246,837 1 The last remaining option awards and stock appreciation rights expired during 2019. |
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, 2019 | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,447 12,367 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 326,786 309,499 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 22,980 21,953 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 576,815 558,420 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 583,159 564,765 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. |
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 about financial instruments and certain other credit lines that are subject to expected credit loss ( ECL ) requirements . UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based on shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below . Refer to Note 23 for more information about expected credit loss measurement Segment Segment description Description of credit risk sensitivit y 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 – Investment Bank Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonalit y, 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 , 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) – 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 Banking Financial intermediaries and hedge funds Lending to financial institutions and pension funds, including exposures to broker-dealers and clearing houses Sensitive to GDP development, the interest rate environment, regulatory changes and political risk – Personal & Corporate Banking – Investment Bank – Corporate Center Refer to Note 23g for more details regarding sensitivity For amortized cost instruments, the net carrying amount 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 amount of these financial assets. Rather, t he carrying amount of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets have been recogn ized 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 othe r credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on the maximum contractual amounts . USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,447 12,367 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 326,786 309,499 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 22,980 21,953 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 576,815 558,420 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 583,159 564,765 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. Coverage ratios are calculated by taking ECL allowances and pro visions divided by the gross carrying amount of the exposures. These ratios have remained broadly unchanged in 2019 and are influenced by the following key factors: – s ignificant asset balances are held with central banks as part of the requirement to hold hig h- quality liquid asset s ; – L ombard loans are secured with marketable securities in portfolios which are in general highly diversified with strict lending policies that are intended to ensure that credit risk is minimal under most circumstances ; – m ortgage loans to private clients and real estate financing are controlled by conservative eligibility criteria , including low loan-to-value ratio s and strong debt service capabilit ies . T he risk of rising interest rates has been taken into account in the scenario selection process ; – the amount of u nsecured retail lending (including credit cards) in Switzerland is insignificant ; – contractual maturities in the loan portfolio , which are a factor in the calculation of ECL s , are generally short, with a large part of the loan portfolio having contractual matur ities of 12 month or less; – for example, the carrying amount of Swiss residential mortgage loans would cont inue to be fully covered or 98% covered by real estate collateral, even if the value of that collateral decreased by 20% or 30% , respectively . Certain assets reported in s tage 2 within the P rivate clients with mortgages and Real estate financ ing segments did not have a comparable ra ting on origination upon which to base the assessment of whether a significant increase in credit risk (SICR) has occurred. In accordance with the IFRS 9 transition requirements , a lifetime ECL has been recognized for these assets. In the medium term and based on the current economic outlook, UBS expect s the proportion of these s tage 2 assets to reduce to some extent. 31.12.19 Gross carrying amount (USD million) ECL coverage (bps) Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Loans and advances to customers 327,550 309,581 15,661 2,308 23 3 79 2,420 of which: Private clients with mortgages 132,756 124,077 7,679 1,000 8 1 72 406 of which: Real estate financing 38,524 32,937 5,567 21 11 2 62 1,765 of which: Large corporate clients 9,819 9,199 429 192 119 16 100 5,088 of which: SME clients 12,089 9,834 1,464 791 251 18 104 3,420 of which: Lombard 112,915 112,799 0 116 2 0 0 1,566 of which: Credit cards 1,696 1,322 339 35 205 60 404 3,718 of which: Commodity trade finance 2,925 2,831 8 87 278 17 3 8,844 Other financial assets measured at amortized cost 23,123 21,988 463 672 62 16 274 1,420 of which: Loans to financial advisors 2,987 2,370 344 272 366 122 305 2,570 Total financial assets measured at amortized cost 577,730 558,544 16,206 2,981 16 2 84 2,198 Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,075 564,888 16,206 2,981 16 2 84 2,198 Gross exposure (USD million) ECL coverage (bps) Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,142 17,757 304 82 23 4 30 4,032 Irrevocable loan commitments 27,547 27,078 419 50 13 11 120 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 10 5 143 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 8 8 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 13 7 120 1,822 Total allowances and provisions 29 9 204 4,020 As explained in Note 1a, the assessment of an SICR considers a number of qualitative and quantitative factors to determine if a stage transfer between stage 1 and stage 2 is required. The primary assessment considers changes in probability of default ( PD ) based on rating analyses and economic outlook . Additionally, UBS considers counterparties that have moved to a credit watch list and those with payments that are 30 days past due. USD million ECL allowances / provisions Financial instruments measured at amortized cost Total Stage 1 Stage 2 of which: PD layer of which: watch list of which: ≥30 days past due Stage 3 Mortgages, business loans and related off-balance sheet commitments in the region Switzerland 723 89 137 93 6 38 497 of which: Private clients with mortgages 90 11 53 40 0 13 27 of which: Real estate financing 59 8 47 36 0 11 4 of which: Large corporate clients 57 6 4 0 4 0 47 of which: SME clients 310 25 9 6 2 1 276 of which: Lombard 3 2 0 0 0 0 1 of which: Leasing 42 6 12 11 0 1 24 of which: Credit cards 33 9 11 0 0 11 12 of which: Other 130 23 2 2 0 0 106 |
UBS AG | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,379 12,298 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 327,992 310,705 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 23,012 21,985 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 577,985 559,590 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,329 565,935 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. |
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 about financial instruments and certain other credit lines that are subject to expected credit loss ( ECL ) requirements . UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based on shared risk chara cteristics and on the same or similar rating methods applied. The key segments are presented in the table below . Refer to Note 23 for more information about expected credit loss measurement Segment Segment description Descriptio n 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 – Investment Bank Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonalit y, 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 , 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) – 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 Banking Financial intermediaries and hedge funds Lending to financial institutions and pension funds, including exposures to broker-dealers and clearing houses Sensitive to GDP development, the interest rate environment, regulatory changes and political risk – Personal & Corporate Banking – Investment Bank – Corporate Center Refer to Note 23g for more details regarding sensitivity For amortized cost instruments, the net carrying amount represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other c omprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying amount of these financial assets. Rather, t he carrying amount of financial assets measured at FVOCI represents t he maximum exposure to credit risk. No purchased credit-impaired financial assets have been 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 addi tion 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 the maximum co ntractual amounts . USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,379 12,298 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 327,992 310,705 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 23,012 21,985 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 577,985 559,590 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,329 565,935 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. Coverage ratios are calculated by taking ECL allowances and pro visions divided by the gross carrying amount of the exposures. These ratios have remained broadly unchanged in 2019 and are influenced by the following key factors: – s ignificant asset balances are held with central banks as part of the requirement to hold hig h- quality liquid asset s ; – L ombard loans are secured with marketable securities in portfolios which are in general highly diversified with strict lending policies that are intended to ensure that credit risk is minimal under most circumstances ; – m ortgage loans to private clients and real estate financing are controlled by conservative eligibility criteria , including low loan-to-value ratio s and strong debt service capabilit ies . T he risk of rising interest rates has been taken into account in the scenario selection process ; – the amount of u nsecured retail lending (including credit cards) in Switzerland is insignificant ; – contractual maturities in the loan portfolio , which are a factor in the calculation of ECL s , are generally short, with a large part of the loan portfolio having contractual maturities of 12 month or less; – for example, the carrying amount of Sw iss residential mortgage loans would continue to be fully covered or 98% covered by real estate collateral, even if the value of that collateral decreased by 20% or 30% , respectively. Certain assets reported in s tage 2 within the P rivate clients with mortgages and Real estate financ ing segments did not have a comparable ra ting on origination upon which to base the assessment of whether a significant increase in credit risk (SICR) has occurred. In accordance with the IFRS 9 transition requirements , a lifetime ECL has been recognized for these assets. In the medium term and based on the current economic outlook, UBS expect s the proportion of these s tage 2 assets to reduce to some extent. 31.12.19 Gross carrying amount (USD million) ECL coverage (bps) Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Loans and advances to customers 328,756 310,787 15,661 2,308 23 3 79 2,420 of which: Private clients with mortgages 132,756 124,077 7,679 1,000 8 1 72 406 of which: Real estate financing 38,524 32,937 5,567 21 11 2 62 1,765 of which: Large corporate clients 9,819 9,199 429 192 119 16 100 5,088 of which: SME clients 12,089 9,834 1,464 791 251 18 104 3,420 of which: Lombard 112,915 112,799 0 116 2 0 0 1,566 of which: Credit cards 1,696 1,322 339 35 205 60 404 3,718 of which: Commodity trade finance 2,925 2,831 8 87 278 17 3 8,844 Other financial assets measured at amortized cost 23,154 22,019 463 672 62 16 274 1,420 of which: Loans to financial advisors 2,987 2,370 344 272 366 122 305 2,570 Total financial assets measured at amortized cost 578,899 559,714 16,206 2,981 16 2 84 2,198 Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 585,245 566,059 16,206 2,981 16 2 84 2,198 Gross exposure (USD million) ECL coverage (bps) Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,142 17,757 304 82 23 4 30 4,032 Irrevocable loan commitments 27,547 27,078 419 50 13 11 120 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 9 5 143 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 8 8 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 13 7 120 1,822 Total allowances and provisions 29 9 204 4,020 As explained in Note 1a, the assessment of an SICR considers a number of qualitative and quantitative factors to determine if a stage transfer between stage 1 and stage 2 is required. The primary assessment considers changes in probability of default ( PD ) based on rating analyses and economic outlook . Additionally, UBS considers counterparties that have moved to a credit watch list and those with payments that are 30 days past due. USD million ECL allowances / provisions Financial instruments measured at amortized cost Total Stage 1 Stage 2 of which: PD layer of which: watch list of which: ≥30 days past due Stage 3 Mortgages, business loans and related off-balance sheet commitments in the region Switzerland 723 89 137 93 6 38 497 of which: Private clients with mortgages 88 11 53 40 0 13 27 of which: Real estate financing 59 8 47 36 0 11 4 of which: Large corporate clients 57 6 4 0 4 0 47 of which: SME clients 310 25 9 6 2 1 276 of which: Lombard 3 2 0 0 0 0 1 of which: Leasing 42 6 12 11 0 1 24 of which: Credit cards 33 9 11 0 0 11 12 of which: Other 128 23 2 2 0 0 106 |
Derivative instruments (Tables)
Derivative instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative [Line Items] | |
Schedule of derivative instruments [text block] | 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 2.8 0.3 5.1 3,136.8 0.0 1.4 0.1 3.1 2,873.9 Swaps 34.3 454.7 26.2 402.9 8,086.0 29.5 459.8 23.5 441.8 7,189.1 Options 8.1 464.8 10.0 486.1 7.6 562.2 9.0 550.0 Exchange-traded contracts Futures 546.9 516.1 Options 0.0 84.4 0.0 66.6 229.5 0.0 27.7 0.0 26.3 199.7 Agency transactions 5 0.1 0.1 0.0 0.1 Total 42.6 1,006.6 36.6 960.7 11,999.2 37.1 1,051.1 32.7 1,021.3 10,778.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 65.0 2.2 66.0 1.7 68.8 2.1 73.2 Total return swaps 0.3 2.0 0.8 3.3 0.2 3.0 0.6 3.7 Options and warrants 0.0 3.3 0.0 0.6 0.0 2.7 0.0 1.4 Total 2.0 70.2 3.0 69.9 1.9 74.5 2.7 78.3 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 22.4 935.3 23.4 966.6 20.3 708.7 20.9 731.2 Interest and currency swaps 22.8 1,573.2 23.8 1,418.5 24.8 1,299.7 24.6 1,203.5 Options 7.3 660.9 6.8 604.9 8.3 613.8 7.8 577.4 Exchange-traded contracts Futures 1.2 0.4 Options 0.0 4.0 0.0 3.8 0.0 3.6 0.0 5.3 Agency transactions 5 0.0 0.0 0.0 0.1 Total 52.5 3,173.4 54.0 2,993.8 1.2 53.5 2,625.7 53.4 2,517.3 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 4.0 81.3 5.5 96.3 4.7 78.5 5.6 86.3 Options 5.0 88.6 6.8 144.1 5.5 97.6 7.2 139.6 Exchange-traded contracts Futures 84.9 71.7 Options 7.2 250.4 7.8 294.1 37.2 10.1 232.8 9.0 262.8 34.1 Agency transactions 5 6.6 5.4 11.2 13.3 Total 22.8 420.3 25.5 534.5 122.1 31.4 408.9 35.0 488.8 105.9 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 4.2 0.2 5.7 0.1 3.2 0.1 3.4 Swaps 0.4 13.8 0.6 15.1 0.7 15.2 0.4 9.9 Options 1.0 27.4 0.4 23.6 0.4 18.6 0.3 16.1 Exchange-traded contracts Futures 12.0 8.5 Forward contracts 0.0 5.9 0.0 4.9 0.0 6.6 0.0 5.4 Options 0.1 4.8 0.1 10.7 0.6 0.1 2.9 0.0 3.7 0.1 Agency transactions 5 0.3 0.5 0.4 0.7 Total 1.8 56.1 1.7 60.0 12.6 1.8 46.4 1.5 38.5 8.6 Unsettled purchases of non-derivative financial instruments 6 0.1 16.6 0.1 6.9 0.2 17.0 0.1 6.0 Unsettled sales of non-derivative financial instruments 6 0.1 15.4 0.1 9.7 0.4 15.1 0.2 13.2 Total derivative instruments, based on IFRS netting 7 121.8 4,758.6 120.9 4,635.4 12,135.1 126.2 4,238.6 125.7 4,163.4 10,893.6 1 Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in Note 34 under Loan commitments. 2 Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 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. 5 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. 6 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 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. |
Disclosure of credit derivatives [text block] | 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 2.8 0.3 5.1 3,136.8 0.0 1.4 0.1 3.1 2,873.9 Swaps 34.3 454.7 26.2 402.9 8,086.0 29.5 459.8 23.5 441.8 7,189.1 Options 8.1 464.8 10.0 486.1 7.6 562.2 9.0 550.0 Exchange-traded contracts Futures 546.9 516.1 Options 0.0 84.4 0.0 66.6 229.5 0.0 27.7 0.0 26.3 199.7 Agency transactions 5 0.1 0.1 0.0 0.1 Total 42.6 1,006.6 36.6 960.7 11,999.2 37.1 1,051.1 32.7 1,021.3 10,778.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 65.0 2.2 66.0 1.7 68.8 2.1 73.2 Total return swaps 0.3 2.0 0.8 3.3 0.2 3.0 0.6 3.7 Options and warrants 0.0 3.3 0.0 0.6 0.0 2.7 0.0 1.4 Total 2.0 70.2 3.0 69.9 1.9 74.5 2.7 78.3 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 22.4 935.3 23.4 966.6 20.3 708.7 20.9 731.2 Interest and currency swaps 22.8 1,573.2 23.8 1,418.5 24.8 1,299.7 24.6 1,203.5 Options 7.3 660.9 6.8 604.9 8.3 613.8 7.8 577.4 Exchange-traded contracts Futures 1.2 0.4 Options 0.0 4.0 0.0 3.8 0.0 3.6 0.0 5.3 Agency transactions 5 0.0 0.0 0.0 0.1 Total 52.5 3,173.4 54.0 2,993.8 1.2 53.5 2,625.7 53.4 2,517.3 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 4.0 81.3 5.5 96.3 4.7 78.5 5.6 86.3 Options 5.0 88.6 6.8 144.1 5.5 97.6 7.2 139.6 Exchange-traded contracts Futures 84.9 71.7 Options 7.2 250.4 7.8 294.1 37.2 10.1 232.8 9.0 262.8 34.1 Agency transactions 5 6.6 5.4 11.2 13.3 Total 22.8 420.3 25.5 534.5 122.1 31.4 408.9 35.0 488.8 105.9 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3, 4 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 4.2 0.2 5.7 0.1 3.2 0.1 3.4 Swaps 0.4 13.8 0.6 15.1 0.7 15.2 0.4 9.9 Options 1.0 27.4 0.4 23.6 0.4 18.6 0.3 16.1 Exchange-traded contracts Futures 12.0 8.5 Forward contracts 0.0 5.9 0.0 4.9 0.0 6.6 0.0 5.4 Options 0.1 4.8 0.1 10.7 0.6 0.1 2.9 0.0 3.7 0.1 Agency transactions 5 0.3 0.5 0.4 0.7 Total 1.8 56.1 1.7 60.0 12.6 1.8 46.4 1.5 38.5 8.6 Unsettled purchases of non-derivative financial instruments 6 0.1 16.6 0.1 6.9 0.2 17.0 0.1 6.0 Unsettled sales of non-derivative financial instruments 6 0.1 15.4 0.1 9.7 0.4 15.1 0.2 13.2 Total derivative instruments, based on IFRS netting 7 121.8 4,758.6 120.9 4,635.4 12,135.1 126.2 4,238.6 125.7 4,163.4 10,893.6 1 Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in Note 34 under Loan commitments. 2 Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 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. 5 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. 6 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 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. |
Disclosure of credit derivatives by type of instrument [text block] | Credit derivatives by type of instrument Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities Notional values Single-name credit default swaps 0.3 0.7 37.5 0.8 0.7 38.6 Multi-name index-linked credit default swaps 0.1 0.8 29.3 0.5 0.1 24.9 Multi-name other credit default swaps 0.0 0.0 0.4 0.0 0.0 0.3 Total rate of return swaps 0.2 0.6 3.7 0.1 0.2 1.6 Options and warrants 0.0 0.0 3.8 0.0 0.0 0.1 Total 31 December 2019 0.7 2.1 74.6 1.3 0.9 65.4 of which: credit derivatives related to economic hedges 0.6 1.7 56.1 0.9 0.8 45.7 of which: credit derivatives related to market-making 0.1 0.4 18.6 0.5 0.1 19.7 Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities 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 |
Disclosure of credit derivatives by counterparty [text block] | Credit derivatives by counterparty Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities Notional values Broker-dealers 0.1 0.2 10.5 0.2 0.1 9.4 Banks 0.2 0.4 23.6 0.4 0.3 21.5 Central clearing counterparties 0.1 0.9 34.7 0.7 0.2 31.6 Other 0.3 0.7 5.8 0.1 0.3 2.9 Total 31 December 2019 0.7 2.1 74.6 1.3 0.9 65.4 Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities 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 |
UBS AG | |
Derivative [Line Items] | |
Schedule of derivative instruments [text block] | 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 2.8 0.3 5.1 3,136.8 0.0 1.4 0.1 3.1 2,873.9 Swaps 34.3 454.7 26.2 402.9 8,086.0 29.5 459.8 23.5 441.8 7,189.1 Options 8.1 464.8 10.0 486.1 7.6 562.2 9.0 550.0 Exchange-traded contracts Futures 546.9 516.1 Options 0.0 84.4 0.0 66.6 229.5 0.0 27.7 0.0 26.3 199.7 Agency transactions 5 0.1 0.1 0.0 0.1 Total 42.6 1,006.6 36.6 960.7 11,999.2 37.1 1,051.1 32.7 1,021.3 10,778.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 65.0 2.2 66.0 1.7 68.8 2.1 73.2 Total return swaps 0.3 2.0 0.8 3.3 0.2 3.0 0.6 3.7 Options and warrants 0.0 3.3 0.0 0.6 0.0 2.7 0.0 1.4 Total 2.0 70.2 3.0 69.9 1.9 74.5 2.7 78.3 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 22.4 935.5 23.4 966.6 20.3 708.8 20.9 731.2 Interest and currency swaps 22.8 1,573.2 23.8 1,418.5 24.8 1,299.7 24.6 1,203.5 Options 7.3 660.9 6.8 604.9 8.3 613.8 7.8 577.4 Exchange-traded contracts Futures 1.2 0.4 Options 0.0 4.0 0.0 3.8 0.0 3.6 0.0 5.3 Agency transactions 5 0.0 0.0 0.0 0.1 Total 52.5 3,173.6 54.0 2,993.8 1.2 53.5 2,625.8 53.4 2,517.3 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 4.0 81.3 5.5 96.3 4.7 78.5 5.6 86.3 Options 5.0 88.6 6.8 144.1 5.5 97.6 7.2 139.6 Exchange-traded contracts Futures 84.9 71.7 Options 7.2 250.4 7.8 294.1 37.2 10.1 232.8 9.0 262.8 34.1 Agency transactions 5 6.6 5.4 11.2 13.3 Total 22.8 420.3 25.5 534.5 122.1 31.4 408.9 35.0 488.8 105.9 Derivative instruments (continued) 1,2 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 4.2 0.2 5.7 0.1 3.2 0.1 3.4 Swaps 0.4 13.8 0.6 15.1 0.7 15.2 0.4 9.9 Options 1.0 27.4 0.4 23.6 0.4 18.6 0.3 16.1 Exchange-traded contracts Futures 12.0 8.5 Forward contracts 0.0 5.9 0.0 4.9 0.0 6.6 0.0 5.4 Options 0.1 4.8 0.1 10.7 0.6 0.1 2.9 0.0 3.7 0.1 Agency transactions 5 0.3 0.5 0.4 0.7 Total 1.8 56.1 1.7 60.0 12.6 1.8 46.4 1.5 38.5 8.6 Unsettled purchases of non-derivative financial instruments 6 0.1 16.6 0.1 6.9 0.2 17.0 0.1 6.0 Unsettled sales of non-derivative financial instruments 6 0.1 15.4 0.1 9.7 0.4 15.1 0.2 13.2 Total derivative instruments, based on IFRS netting 7 121.8 4,758.9 120.9 4,635.4 12,135.1 126.2 4,238.7 125.7 4,163.4 10,893.6 1 Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in Note 34 under Loan commitments. 2 Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 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. 5 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. 6 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 7 Financial assets and liabilities are presented net on the balance sheet if UBS AG 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] | 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Interest rate contracts Over-the-counter (OTC) contracts Forward contracts 0.0 2.8 0.3 5.1 3,136.8 0.0 1.4 0.1 3.1 2,873.9 Swaps 34.3 454.7 26.2 402.9 8,086.0 29.5 459.8 23.5 441.8 7,189.1 Options 8.1 464.8 10.0 486.1 7.6 562.2 9.0 550.0 Exchange-traded contracts Futures 546.9 516.1 Options 0.0 84.4 0.0 66.6 229.5 0.0 27.7 0.0 26.3 199.7 Agency transactions 5 0.1 0.1 0.0 0.1 Total 42.6 1,006.6 36.6 960.7 11,999.2 37.1 1,051.1 32.7 1,021.3 10,778.8 Credit derivative contracts Over-the-counter (OTC) contracts Credit default swaps 1.7 65.0 2.2 66.0 1.7 68.8 2.1 73.2 Total return swaps 0.3 2.0 0.8 3.3 0.2 3.0 0.6 3.7 Options and warrants 0.0 3.3 0.0 0.6 0.0 2.7 0.0 1.4 Total 2.0 70.2 3.0 69.9 1.9 74.5 2.7 78.3 Foreign exchange contracts Over-the-counter (OTC) contracts Forward contracts 22.4 935.5 23.4 966.6 20.3 708.8 20.9 731.2 Interest and currency swaps 22.8 1,573.2 23.8 1,418.5 24.8 1,299.7 24.6 1,203.5 Options 7.3 660.9 6.8 604.9 8.3 613.8 7.8 577.4 Exchange-traded contracts Futures 1.2 0.4 Options 0.0 4.0 0.0 3.8 0.0 3.6 0.0 5.3 Agency transactions 5 0.0 0.0 0.0 0.1 Total 52.5 3,173.6 54.0 2,993.8 1.2 53.5 2,625.8 53.4 2,517.3 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 4.0 81.3 5.5 96.3 4.7 78.5 5.6 86.3 Options 5.0 88.6 6.8 144.1 5.5 97.6 7.2 139.6 Exchange-traded contracts Futures 84.9 71.7 Options 7.2 250.4 7.8 294.1 37.2 10.1 232.8 9.0 262.8 34.1 Agency transactions 5 6.6 5.4 11.2 13.3 Total 22.8 420.3 25.5 534.5 122.1 31.4 408.9 35.0 488.8 105.9 Derivative instruments (continued) 1,2 31.12.19 31.12.18 USD billion Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Derivative financial assets Notional values related to derivative financial assets 3 Derivative financial liabilities Notional values related to derivative financial liabilities 3 Other notional values 3,4 Commodity contracts Over-the-counter (OTC) contracts Forward contracts 0.1 4.2 0.2 5.7 0.1 3.2 0.1 3.4 Swaps 0.4 13.8 0.6 15.1 0.7 15.2 0.4 9.9 Options 1.0 27.4 0.4 23.6 0.4 18.6 0.3 16.1 Exchange-traded contracts Futures 12.0 8.5 Forward contracts 0.0 5.9 0.0 4.9 0.0 6.6 0.0 5.4 Options 0.1 4.8 0.1 10.7 0.6 0.1 2.9 0.0 3.7 0.1 Agency transactions 5 0.3 0.5 0.4 0.7 Total 1.8 56.1 1.7 60.0 12.6 1.8 46.4 1.5 38.5 8.6 Unsettled purchases of non-derivative financial instruments 6 0.1 16.6 0.1 6.9 0.2 17.0 0.1 6.0 Unsettled sales of non-derivative financial instruments 6 0.1 15.4 0.1 9.7 0.4 15.1 0.2 13.2 Total derivative instruments, based on IFRS netting 7 121.8 4,758.9 120.9 4,635.4 12,135.1 126.2 4,238.7 125.7 4,163.4 10,893.6 1 Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in Note 34 under Loan commitments. 2 Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. 3 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. 4 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. 5 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. 6 Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. 7 Financial assets and liabilities are presented net on the balance sheet if UBS AG 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 Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities Notional values Single-name credit default swaps 0.3 0.7 37.5 0.8 0.7 38.6 Multi-name index-linked credit default swaps 0.1 0.8 29.3 0.5 0.1 24.9 Multi-name other credit default swaps 0.0 0.0 0.4 0.0 0.0 0.3 Total rate of return swaps 0.2 0.6 3.7 0.1 0.2 1.6 Options and warrants 0.0 0.0 3.8 0.0 0.0 0.1 Total 31 December 2019 0.7 2.1 74.6 1.3 0.9 65.4 of which: credit derivatives related to economic hedges 0.6 1.7 56.1 0.9 0.8 45.7 of which: credit derivatives related to market-making 0.1 0.4 18.6 0.5 0.1 19.7 Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities 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 |
Disclosure of credit derivatives by counterparty [text block] | Credit derivatives by counterparty Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities Notional values Broker-dealers 0.1 0.2 10.5 0.2 0.1 9.4 Banks 0.2 0.4 23.6 0.4 0.3 21.5 Central clearing counterparties 0.1 0.9 34.7 0.7 0.2 31.6 Other 0.3 0.7 5.8 0.1 0.3 2.9 Total 31 December 2019 0.7 2.1 74.6 1.3 0.9 65.4 Protection bought Protection sold USD billion Derivative financial assets Derivative financial liabilities Notional values Derivative financial assets Derivative financial liabilities 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 |
Financial assets and liabilit_2
Financial assets and liabilities at fair value held for trading (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Financial assets at fair value held for trading 1 Equity instruments 96,787 72,768 Government bills / bonds 11,464 11,161 Investment fund units 8,867 9,716 Corporate and municipal bonds 7,914 6,768 Loans 1,971 3,566 Asset-backed securities 512 392 Total financial assets at fair value held for trading 127,514 104,370 Financial liabilities at fair value held for trading 1 Equity instruments 22,734 21,886 Corporate and municipal bonds 3,661 3,530 Government bills / bonds 3,466 2,839 Investment fund units 698 689 Other 32 0 Total financial liabilities at fair value held for trading 30,591 28,943 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
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 31.12.19 31.12.18 Financial assets at fair value held for trading 1 Equity instruments 96,788 72,771 Government bills / bonds 11,464 11,161 Investment fund units 8,867 9,716 Corporate and municipal bonds 8,093 6,908 Loans 1,971 3,566 Asset-backed securities 512 392 Total financial assets at fair value held for trading 127,695 104,513 Financial liabilities at fair value held for trading 1 Equity instruments 22,734 21,892 Corporate and municipal bonds 3,661 3,530 Government bills / bonds 3,466 2,839 Investment fund units 698 689 Other 32 0 Total financial liabilities at fair value held for trading 30,591 28,949 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
Financial assets at fair valu_2
Financial assets at fair value not held for trading (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Financial assets at fair value not held for trading 1 Financial assets for unit-linked investment contracts 27,686 21,446 Corporate and municipal bonds 19,385 17,236 Government bills / bonds 15,790 22,493 Loans 11,438 8,132 Securities financing transactions 6,294 9,937 Auction rate securities 1,536 1,664 Investment fund units 740 710 Equity instruments 559 702 Other 515 369 Total financial assets at fair value not held for trading 83,944 82,690 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
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 31.12.19 31.12.18 Financial assets at fair value not held for trading 1 Financial assets for unit-linked investment contracts 27,686 21,446 Corporate and municipal bonds 19,385 17,236 Government bills / bonds 15,790 22,493 Loans 11,438 8,132 Securities financing transactions 6,294 9,937 Auction rate securities 1,536 1,664 Investment fund units 432 407 Equity instruments 559 702 Other 515 369 Total financial assets at fair value not held for trading 83,636 82,387 1 Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
Financial assets measured at _2
Financial assets measured at fair value through OCI (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Financial assets measured at fair value through other comprehensive income 1 Debt instruments Government and government agencies 6,162 6,463 of which: USA 5,814 6,101 Banks 178 149 Corporates and other 4 54 Total financial assets measured at fair value through other comprehensive income 6,345 6,667 Unrealized gains – before tax 41 4 Unrealized (losses) – before tax (25) (146) Net unrealized gains / (losses) – before tax 16 (143) Net unrealized gains / (losses) – after tax 15 (104) 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. |
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 31.12.19 31.12.18 Financial assets measured at fair value through other comprehensive income 1 Debt instruments Government and government agencies 6,162 6,463 of which: USA 5,814 6,101 Banks 178 149 Corporates and other 4 54 Total financial assets measured at fair value through other comprehensive income 6,345 6,667 Unrealized gains – before tax 41 4 Unrealized (losses) – before tax (25) (146) Net unrealized gains / (losses) – before tax 16 (143) Net unrealized gains / (losses) – after tax 15 (104) 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. |
Property, equipment and softw_2
Property, equipment and software (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 Owned properties Leased properties 5 Leasehold improve- ments IT hardware and communication equipment Internally generated software Purchased software Other machines and equipment Projects in progress 2019 2018 Historical cost Balance at the end of the previous year 7,679 3,122 1,568 5,173 469 799 1,157 19,966 19,522 Adjustment from adoption of IFRS 16 (20) 3,407 (32) 0 3,354 Balance at the beginning of the year 7,659 3,407 3,122 1,535 5,173 469 799 1,157 23,321 19,522 Additions 15 345 21 178 73 30 23 1,246 1,931 1,702 Disposals / write-offs 1 (15) (22) (314) (170) (28) (20) (68) 0 (636) (849) Reclassifications (130) 0 164 0 943 2 41 (1,418) (398) 4 (195) Foreign currency translation 122 14 10 16 15 4 4 28 213 (213) Balance at the end of the year 7,650 3,745 3,004 1,559 6,176 485 799 1,014 24,431 19,966 Accumulated depreciation Balance at the end of the previous year 4,500 1,873 1,077 2,291 316 561 10,619 10,465 Adjustment from adoption of IFRS 16 (1) 29 (28) 0 Balance at the beginning of the year 4,499 29 1,873 1,049 2,291 316 561 0 10,619 10,465 Depreciation 161 487 194 165 603 56 62 0 1,728 1,153 Impairment 2 1 2 1 0 30 3 0 0 37 75 Disposals / write-offs 1 (15) (2) (312) (169) (28) (20) (68) 0 (614) (840) Reclassifications (256) 0 2 0 0 0 0 0 (254) 4 (124) Foreign currency translation 75 4 9 9 9 3 3 0 112 (111) Balance at the end of the year 4,466 519 1,768 1,053 2,906 358 559 0 11,628 10,619 Net book value Net book value at the end of the previous year 3,179 0 1,249 491 2,882 153 238 1,157 9,348 9,057 Net book value at the beginning of the year 3,160 3,378 1,249 486 2,882 153 238 1,157 12,702 9,057 Net book value at the end of the year 3,184 3,226 1,236 506 3,270 126 241 1,014 3 12,804 9,348 1 Includes write-offs of fully depreciated assets. 2 Impairment charges recorded in 2019 generally relate to assets that are no longer used for which the recoverable amount based on a fair value approach was determined to be zero. 3 Consists of USD 787 million related to Internally generated software, USD 126 million related to Owned properties and USD 100 million related to Leasehold improvements. 4 Reflects reclassifications to Properties held for sale. 5 Represents right-of-use assets recognized by UBS as lessee. Includes immaterial leased IT equipment. The total cash outflow for leases during the year was USD 641 million. Interest expense on lease liabilities is included within Interest expense from financial instruments measured at amortized cost and Lease liabilities are included within Other financial liabilities measured at amortized cost. Refer to Notes 3 and 22a, respectively. Also refer to Note 1 for more information about the nature of UBS’s leasing activities. |
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 Owned properties Leased properties 5 Leasehold improve- ments IT hardware and communication equipment Internally generated software Purchased software Other machines and equipment Projects in progress 2019 2018 Historical cost Balance at the end of the previous year 7,031 3,042 1,002 4,879 303 769 1,076 18,102 17,705 Adjustment from adoption of IFRS 16 (20) 3,299 (15) 0 3,264 Balance at the beginning of the year 7,012 3,299 3,042 987 4,879 303 769 1,076 21,365 17,705 Additions 14 337 18 85 96 9 22 1,158 1,740 1,484 Disposals / write-offs 1 (9) (21) (312) (108) (28) (10) (66) 0 (554) (726) Reclassifications (135) 0 158 (3) 863 2 39 (1,315) (391) 4 (195) Foreign currency translation 106 15 10 2 7 (1) 4 25 169 (166) Balance at the end of the year 6,988 3,630 2,917 963 5,817 302 768 943 22,329 18,102 Accumulated depreciation Balance at the end of the previous year 4,132 1,842 733 2,161 209 546 9,623 9,514 Adjustment from adoption of IFRS 16 (1) 16 (15) 0 0 Balance at the beginning of the year 4,131 16 1,842 719 2,161 209 546 0 9,623 9,514 Depreciation 141 463 184 98 565 33 58 0 1,542 984 Impairment 2 1 2 1 0 27 2 0 0 34 67 Disposals / write-offs 1 (9) (2) (310) (108) (28) (10) (66) 0 (533) (730) Reclassifications (256) 0 3 0 5 0 0 0 (248) 4 (124) Foreign currency translation 66 3 9 1 5 (1) 3 0 86 (88) Balance at the end of the year 4,074 481 1,729 710 2,735 233 541 0 10,503 9,623 Net book value Net book value at the end of the previous year 2,900 0 1,200 269 2,718 93 223 1,076 8,479 8,191 Net book value at the beginning of the year 2,881 3,284 1,200 268 2,718 93 223 1,076 11,742 8,191 Net book value at the end of the year 2,914 3,149 1,188 254 3,082 69 227 943 3 11,826 8,479 1 Includes write-offs of fully depreciated assets. 2 Impairment charges recorded in 2019 generally relate to assets that are no longer used for which the recoverable amount based on a fair value approach was determined to be zero. 3 Consists of USD 744 million related to Internally generated software, USD 101 million related to Owned properties and USD 98 million related to Leasehold improvements. 4 Reflects reclassifications to Properties held for sale. 5 Represents right-of-use assets recognized by UBS AG as lessee. Includes immaterial leased IT equipment. The total cash outflow for leases during the year was USD 614 million. Interest expense on lease liabilities is included within Interest expense from financial instruments measured at amortized cost and Lease liabilities are included within Other financial liabilities measured at amortized cost. Refer to Notes 3 and 22a, respectively. Also refer to Note 1 for more information about the nature of UBS’s leasing activities. |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 % 31.12.19 31.12.18 31.12.19 31.12.18 Global Wealth Management Americas 9.5 9.5 4.2 3.2 Global Wealth Management ex Americas 8.5 8.5 3.4 3.0 Asset Management 9.0 9.0 3.0 2.7 Investment Bank 11.0 11.0 4.0 3.5 |
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 2019 2018 Historical cost Balance at the beginning of the year 6,392 760 865 1,625 8,018 7,888 Additions 0 11 11 11 270 Disposals (1) (10) (10) (11) (45) Write-offs 0 (75) (75) (75) (7) Foreign currency translation (9) (3) (3) (12) (88) Balance at the end of the year 6,382 760 788 1,548 7,930 8,018 Accumulated amortization and impairment Balance at the beginning of the year 691 679 1,371 1,371 1,325 Amortization 38 27 65 65 62 Impairment 2 110 0 0 110 4 Disposals (8) (8) (8) (1) Write-offs (75) (75) (75) (7) Foreign currency translation (2) (2) (2) (12) Balance at the end of the year 110 730 621 1,351 1,461 1,371 Net book value at the end of the year 6,272 30 167 197 6,469 6,647 1 Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc. 2 Impairment charges recorded in 2019 and 2018 relate to assets for which the recoverable amount was determined considering their value-in-use (recoverable amount of the impaired intangible assets in 2018 was USD 18 million, recoverable amount for the Investment Bank cash-generating unit in 2019 was USD 11.7 billion). |
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 Asset Management Investment Bank Corporate Center Total Goodwill Balance at the beginning of the year 3,721 1,206 1,354 112 6,392 Additions 0 0 Disposals (1) (1) Impairment (110) (110) Foreign currency translation (2) (6) 1 (2) 0 (9) Balance at the end of the year 3,719 1,198 1,354 0 0 6,272 Intangible assets Balance at the beginning of the year 138 104 0 11 1 254 Additions / transfers 1 0 10 11 Disposals (2) 0 (2) Amortization (45) (12) (5) (4) (65) Impairment 0 0 0 Foreign currency translation (1) 1 0 0 0 (1) Balance at the end of the year 92 92 0 5 7 197 |
Disclosure of future amortization expenses for intangible assets [text block] | USD million Intangible assets Estimated, aggregated amortization expenses for: 2020 53 2021 22 2022 18 2023 17 2024 13 Thereafter 70 Not amortized due to indefinite useful life 2 Total 197 |
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 % 31.12.19 31.12.18 31.12.19 31.12.18 Global Wealth Management Americas 9.5 9.5 4.2 3.2 Global Wealth Management ex Americas 8.5 8.5 3.4 3.0 Asset Management 9.0 9.0 3.0 2.7 Investment Bank 11.0 11.0 4.0 3.5 |
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 2019 2018 Historical cost Balance at the beginning of the year 6,392 760 865 1,625 8,018 7,888 Additions 0 11 11 11 270 Disposals (1) (10) (10) (11) (45) Write-offs 0 (75) (75) (75) (7) Foreign currency translation (9) (3) (3) (12) (88) Balance at the end of the year 6,382 760 788 1,548 7,930 8,018 Accumulated amortization and impairment Balance at the beginning of the year 691 679 1,371 1,371 1,325 Amortization 38 27 65 65 62 Impairment 2 110 0 0 110 4 Disposals (8) (8) (8) (1) Write-offs (75) (75) (75) (7) Foreign currency translation (2) (2) (2) (12) Balance at the end of the year 110 730 621 1,351 1,461 1,371 Net book value at the end of the year 6,272 30 167 197 6,469 6,647 1 Consists of the branch network intangible asset recognized in connection with the acquisition of PaineWebber Group, Inc. 2 Impairment charges recorded in 2019 and 2018 relate to assets for which the recoverable amount was determined considering their value-in-use (recoverable amount of the impaired intangible assets in 2018 was USD 18 million, recoverable amount for the Investment Bank cash-generating unit in 2019 was USD 11.7 billion). |
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 Asset Management Investment Bank Corporate Center Total Goodwill Balance at the beginning of the year 3,721 1,206 1,354 112 6,392 Additions 0 0 Disposals (1) (1) Impairment (110) (110) Foreign currency translation (2) (6) 1 (2) 0 (9) Balance at the end of the year 3,719 1,198 1,354 0 0 6,272 Intangible assets Balance at the beginning of the year 138 104 0 11 1 254 Additions / transfers 1 0 10 11 Disposals (2) 0 (2) Amortization (45) (12) (5) (4) (65) Impairment 0 0 0 Foreign currency translation (1) 1 0 0 0 (1) Balance at the end of the year 92 92 0 5 7 197 |
Disclosure of future amortization expenses for intangible assets [text block] | USD million Intangible assets Estimated, aggregated amortization expenses for: 2020 53 2021 22 2022 18 2023 17 2024 13 Thereafter 70 Not amortized due to indefinite useful life 2 Total 197 |
Other financial and non-finan_3
Other financial and non-financial assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other financial assets measured at amortized cost | |
DisclosureOf Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | USD million 31.12.19 31.12.18 Debt securities 14,141 13,562 of which: government bills / bonds 8,492 8,778 Loans to financial advisors 1 2,877 3,291 Fee- and commission-related receivables 1,521 1,643 Finance lease receivables 2 1,444 1,091 Settlement and clearing accounts 587 1,050 Accrued interest income 742 694 Other 1,669 1,233 Total other financial assets measured at amortized cost 22,980 22,563 1 Related to financial advisors in the US and Canada. 2 Upon adoption of IFRS 16 on 1 January 2019, Finance lease receivables increased by USD 176 million. Refer to Note 1 for more information. |
Other non-financial assets | |
DisclosureOf Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | USD million 31.12.19 31.12.18 Precious metals and other physical commodities 4,597 4,298 Bail deposit 1 1,293 1,312 Prepaid expenses 927 990 VAT and other tax receivables 493 334 Properties and other non-current assets held for sale 199 82 Other 346 395 Total other non-financial assets 7,856 7,410 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 31.12.19 31.12.18 Debt securities 14,141 13,562 of which: government bills / bonds 8,492 8,778 Loans to financial advisors 1 2,877 3,291 Fee- and commission-related receivables 1,520 1,644 Finance lease receivables 2 1,444 1,091 Settlement and clearing accounts 587 1,039 Accrued interest income 742 700 Other 1,701 1,310 Total other financial assets measured at amortized cost 23,012 22,637 1 Related to financial advisors in the US and Canada. 2 Upon adoption of IFRS 16 on 1 January 2019, Finance lease receivables increased by USD 176 million. Refer to Note 1 for more information. |
UBS AG | Other non-financial assets | |
DisclosureOf Other Assets [Line Items] | |
Disclosure Of Other Assets Explanatory | USD million 31.12.19 31.12.18 Precious metals and other physical commodities 4,597 4,298 Bail deposit 1 1,293 1,312 Prepaid expenses 687 731 VAT and other tax receivables 436 282 Properties and other non-current assets held for sale 199 82 Other 335 358 Total other non-financial assets 7,547 7,062 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, 2019 | |
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 31.12.19 31.12.18 Amounts due to banks 6,570 10,962 Customer deposits 448,284 419,838 of which: demand deposits 176,010 181,869 of which: retail savings / deposits 168,581 165,790 of which: time deposits 62,315 53,624 of which: fiduciary deposits 41,378 18,556 Total amounts due to banks and customer deposits 454,854 430,801 |
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 31.12.19 31.12.18 Amounts due to banks 6,570 10,962 Customer deposits 450,591 421,986 of which: demand deposits 176,972 182,642 of which: retail savings / deposits 168,581 165,790 of which: time deposits 63,659 54,998 of which: fiduciary deposits 41,378 18,556 Total amounts due to banks and customer deposits 457,161 432,948 b) Funding from UBS Group AG and its subsidiaries USD million 31.12.19 31.12.18 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 30,105 29,988 Senior unsecured debt other than TLAC 3,389 1,031 High-trigger loss-absorbing additional tier 1 capital instruments 11,958 7,805 Low-trigger loss-absorbing additional tier 1 capital instruments 2,415 2,378 Total 1,2 47,866 41,202 1 All balances in 2019 are against UBS Group AG as counterparty. Prior year balances were against UBS Group Funding (Switzerland) AG as counterparty. 2 UBS AG has also recognized funding from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
Funding From Group And Other Subsidiaries Explanatory | b) Funding from UBS Group AG and its subsidiaries USD million 31.12.19 31.12.18 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 30,105 29,988 Senior unsecured debt other than TLAC 3,389 1,031 High-trigger loss-absorbing additional tier 1 capital instruments 11,958 7,805 Low-trigger loss-absorbing additional tier 1 capital instruments 2,415 2,378 Total 1,2 47,866 41,202 1 All balances in 2019 are against UBS Group AG as counterparty. Prior year balances were against UBS Group Funding (Switzerland) AG as counterparty. 2 UBS AG has also recognized funding from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
Debt issued designated at fai_2
Debt issued designated at fair value (Table) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Designated Financial Liabilities At Fair Value Through Profit Or Loss | USD million 31.12.19 31.12.18 Issued debt instruments Equity-linked 1 41,722 34,392 Rates-linked 16,318 12,073 Credit-linked 1,916 3,282 Fixed-rate 4,636 5,099 Commodity-linked 1,567 1,785 Other 649 401 of which: debt that contributes to total loss-absorbing capacity 217 0 Total debt issued designated at fair value 66,809 57,031 of which: issued by UBS AG with original maturity greater than one year 2 51,031 40,289 of which: life-to-date own credit (gain) / loss 92 (270) 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 2019 was unsecured (31 December 2018: 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 amount USD million 2020 2021 2022 2023 2024 2025–2029 Thereafter Total 31.12.19 Total 31.12.18 UBS Group AG 1 Non-subordinated debt Fixed-rate 0 0 0 0 0 0 217 217 0 UBS AG 2 Non-subordinated debt Fixed-rate 3,648 1,778 755 288 334 386 3,178 10,368 11,807 Floating-rate 21,547 10,748 3,435 2,608 3,290 8,109 5,562 55,299 43,562 Subtotal 25,195 12,526 4,190 2,897 3,624 8,495 8,740 65,668 55,370 Other subsidiaries 3 Non-subordinated debt Fixed-rate 48 92 6 0 0 345 29 520 1,230 Floating-rate 102 43 197 27 0 0 35 404 431 Subtotal 150 134 203 27 0 345 64 924 1,662 Total 25,345 12,661 4,394 2,924 3,624 8,840 9,021 66,809 57,031 1 Comprises instruments issued by the legal entity UBS Group AG. 2 Comprises instruments issued by the legal entity UBS AG. 3 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 31.12.19 31.12.18 Issued debt instruments Equity-linked 1 41,722 34,392 Rates-linked 16,318 12,073 Credit-linked 1,916 3,282 Fixed-rate 4,636 5,099 Commodity-linked 1,567 1,785 Other 432 401 Total debt issued designated at fair value 66,592 57,031 of which: issued by UBS AG with original maturity greater than one year 2 51,031 40,289 of which: life-to-date own credit (gain) / loss 82 (270) 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 2019 was unsecured (31 December 2018: 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 amount USD million 2020 2021 2022 2023 2024 2025–2029 Thereafter Total 31.12.19 Total 31.12.18 UBS Group AG 1 Non-subordinated debt Fixed-rate 0 0 0 0 0 0 217 217 0 UBS AG 2 Non-subordinated debt Fixed-rate 3,648 1,778 755 288 334 386 3,178 10,368 11,807 Floating-rate 21,547 10,748 3,435 2,608 3,290 8,109 5,562 55,299 43,562 Subtotal 25,195 12,526 4,190 2,897 3,624 8,495 8,740 65,668 55,370 Other subsidiaries 3 Non-subordinated debt Fixed-rate 48 92 6 0 0 345 29 520 1,230 Floating-rate 102 43 197 27 0 0 35 404 431 Subtotal 150 134 203 27 0 345 64 924 1,662 Total 25,345 12,661 4,394 2,924 3,624 8,840 9,021 66,809 57,031 1 Comprises instruments issued by the legal entity UBS Group AG. 2 Comprises instruments issued by the legal entity UBS AG. 3 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, 2019 | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Detailed Information About Borrowings Explanatory | USD million 31.12.19 31.12.18 Certificates of deposit 5,190 7,980 Commercial paper 14,413 27,514 Other short-term debt 2,235 3,531 Short-term debt 1 21,837 39,025 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 30,105 29,988 Senior unsecured debt other than TLAC 25,569 33,018 of which: issued by UBS AG with original maturity greater than one year 2 22,349 32,133 Covered bonds 2,633 3,947 Subordinated debt 21,775 17,665 of which: high-trigger loss-absorbing additional tier 1 capital instruments 11,931 7,785 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,414 2,369 of which: low-trigger loss-absorbing tier 2 capital instruments 6,892 6,808 of which: non-Basel III-compliant tier 2 capital instruments 540 703 Debt issued through the Swiss central mortgage institutions 8,574 8,569 Other long-term debt 4 58 of which: issued by UBS AG with original maturity greater than one year 2 0 52 Long-term debt 3 88,660 93,246 Total debt issued measured at amortized cost 4 110,497 132,271 1 Debt with an original contractual 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 2019, 100% of the balance was unsecured (31 December 2018: 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. |
Notes And Debentures Issued [Member] | |
Disclosure Of Financial Liabilities [Line Items] | |
Maturity Analysis For Nonderivative Financial Liabilities | Contractual maturity of carrying amount USD million 2020 2021 2022 2023 2024 2025–2029 Thereafter Total 31.12.19 Total 31.12.18 UBS Group AG 1 Non-subordinated debt Fixed-rate 1,442 1,943 3,720 4,008 3,890 10,832 1,471 27,306 4 0 Floating-rate 299 1,001 2,462 2,249 0 0 0 6,012 4 0 Subordinated debt Fixed-rate 0 0 0 0 0 0 14,344 14,344 4 0 Subtotal 1,741 2,944 6,182 6,257 3,890 10,832 15,815 47,662 0 UBS AG 2 Non-subordinated debt Fixed-rate 24,334 3,978 2,618 1,621 0 0 1,145 33,696 40,108 Floating-rate 10,819 1,932 0 368 0 0 0 13,119 35,035 Subordinated debt Fixed-rate 0 0 2,007 0 2,597 2,827 0 7,431 7,511 Subtotal 35,153 5,910 4,626 1,989 2,597 2,827 1,145 54,247 82,654 Other subsidiaries 3 Non-subordinated debt Fixed-rate 758 1,029 851 951 1,013 3,327 660 8,588 33,529 4 Floating-rate 0 0 0 0 0 0 0 0 5,933 4 Subordinated debt Fixed-rate 0 0 0 0 0 0 0 0 10,154 4 Subtotal 758 1,029 851 951 1,013 3,327 660 8,588 49,616 Total 37,651 9,883 11,659 9,197 7,500 16,987 17,620 110,497 132,271 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 TLAC and additional tier 1 capital instruments were originally issued by UBS Group Funding (Switzerland) AG, the issuer was replaced by UBS Group AG in 2019. |
UBS AG | |
Disclosure Of Financial Liabilities [Line Items] | |
Disclosure Of Detailed Information About Borrowings Explanatory | USD million 31.12.19 31.12.18 Certificates of deposit 5,190 7,980 Commercial paper 14,413 27,514 Other short-term debt 2,235 3,531 Short-term debt 1 21,837 39,025 Senior unsecured debt 22,356 32,135 of which: issued by UBS AG with original maturity greater than one year 2 22,349 32,133 Covered bonds 2,633 3,947 Subordinated debt 7,431 7,511 of which: low-trigger loss-absorbing tier 2 capital instruments 6,892 6,808 of which: non-Basel III-compliant tier 2 capital instruments 540 703 Debt issued through the Swiss central mortgage institutions 8,574 8,569 Other long-term debt 4 58 of which: issued by UBS AG with original maturity greater than one year 2 0 52 Long-term debt 3 40,998 52,220 Total debt issued measured at amortized cost 4 62,835 91,245 1 Debt with an original contractual 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 2019, 100% of the balance was unsecured (31 December 2018: 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 amount USD million 2020 2021 2022 2023 2024 2025–2029 Thereafter Total 31.12.19 Total 31.12.18 UBS AG 1 Non-subordinated debt Fixed-rate 24,334 3,978 2,618 1,621 0 0 1,145 33,696 40,108 Floating-rate 10,819 1,932 0 368 0 0 0 13,119 35,035 Subordinated debt Fixed-rate 0 0 2,007 0 2,597 2,827 0 7,431 7,511 Subtotal 35,153 5,910 4,626 1,989 2,597 2,827 1,145 54,247 82,654 Other subsidiaries 2 Non-subordinated debt Fixed-rate 758 1,029 851 951 1,013 3,327 660 8,588 8,590 Floating-rate 0 0 0 0 0 0 0 0 0 Subtotal 758 1,029 851 951 1,013 3,327 660 8,588 8,591 Total 35,911 6,939 5,477 2,940 3,610 6,154 1,805 62,835 91,245 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, 2019 | |
Disclosure Of Other Provisions [Line Items] | |
Total provisions recognized under both IAS 37 and IFRS 9 [textblock] | USD million 31.12.19 31.12.18 Provisions other than provisions for expected credit losses 2,861 3,377 Provisions for expected credit losses 114 116 Total provisions 2,974 3,494 |
Total provisions with additional information [textblock] | USD million Operational risks 2 Litigation, regulatory and similar matters 3 Restructuring Real estate Employee benefits 6 Other Total 2019 Total 2018 Balance at the end of the previous year 46 2,827 224 131 70 78 3,377 3,180 Adjustment from adoption of IFRS 16 1 0 0 (103) (29) 0 0 (132) 0 Balance at the beginning of the year 46 2,827 121 102 70 78 3,245 3,180 Additions from acquired companies 0 0 0 0 0 0 0 2 Increase in provisions recognized in the income statement 15 258 105 4 6 16 404 1,155 Release of provisions recognized in the income statement 0 (81) (22) 0 (7) (12) (123) (311) Provisions used in conformity with designated purpose (16) (518) (99) (7) 0 (18) (659) (628) Capitalized reinstatement costs 0 0 0 1 0 0 1 1 Foreign currency translation / unwind of discount (1) (12) 1 1 1 1 (8) (21) Balance at the end of the year 44 2,475 106 4 100 5 70 66 2,861 3,377 1 Refer to Note 1 for more information. 2 Comprises provisions for losses resulting from security risks and transaction processing risks. 3 Comprises provisions for losses resulting from legal, liability and compliance risks. 4 Primarily consists of personnel-related restructuring provisions of USD 40 million as of 31 December 2019 (31 December 2018: USD 50 million) and provisions for onerous contracts of USD 61 million as of 31 December 2019 (31 December 2018: USD 170 million). 5 Consists of reinstatement costs for leasehold improvements of USD 89 million as of 31 December 2019 (31 December 2018: USD 89 million) and provisions for onerous contracts of USD 11 million as of 31 December 2019 (31 December 2018: USD 42 million). 6 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 31.12.19 31.12.18 Provisions other than provisions for expected credit losses 2,825 3,341 Provisions for expected credit losses 114 116 Total provisions 2,938 3,457 |
Total provisions with additional information [textblock] | USD million Operational risks 2 Litigation, regulatory and similar matters 3 Restructuring Real estate Employee benefits 6 Other Total 2019 Total 2018 Balance at the end of the previous year 45 2,827 215 122 55 77 3,341 3,130 Adjustment from adoption of IFRS 16 1 0 0 (103) (28) 0 0 (131) 0 Balance at the beginning of the year 45 2,827 112 94 55 77 3,209 3,130 Additions from acquired companies 0 0 0 0 0 0 0 2 Increase in provisions recognized in the income statement 13 258 87 4 6 8 376 1,117 Release of provisions recognized in the income statement 0 (81) (19) 0 (7) (12) (119) (301) Provisions used in conformity with designated purpose (15) (518) (83) (7) 0 (9) (632) (587) Reclassifications 0 0 0 0 0 (1) (1) 0 Foreign currency translation / unwind of discount (1) (12) 1 1 0 1 (8) (20) Balance at the end of the year 41 2,475 99 4 92 5 54 64 2,825 3,341 1 Refer to Note 1 for more information. 2 Comprises provisions for losses resulting from security risks and transaction processing risks. 3 Comprises provisions for losses resulting from legal, liability and compliance risks. 4 Primarily consists of personnel-related restructuring provisions of USD 33 million as of 31 December 2019 (31 December 2018: USD 40 million) and provisions for onerous contracts of USD 61 million as of 31 December 2019 (31 December 2018: USD 170 million). 5 Consists of reinstatement costs for leasehold improvements of USD 82 million as of 31 December 2019 (31 December 2018: USD 83 million) and provisions for onerous contracts of USD 10 million as of 31 December 2019 (31 December 2018: USD 40 million). 6 Includes provisions for sabbatical and anniversary awards. |
Litigation, regulatory and si_2
Litigation, regulatory and similar matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 in Corporate Center 1 USD million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank Corporate Center Total 2019 Total 2018 Balance at the beginning of the year 1,003 117 0 269 1,438 2,827 2,508 Increase in provisions recognized in the income statement 188 1 0 60 10 258 905 Release of provisions recognized in the income statement (49) 0 0 (6) (27) (81) (220) Provisions used in conformity with designated purpose (350) (4) 0 (66) (97) (518) (350) Foreign currency translation / unwind of discount (10) (1) 0 (2) 0 (12) (16) Balance at the end of the year 782 113 0 255 1,325 2,475 2,827 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3, item 4 and item 7) and Corporate Center (item 2). Provisions, if any, for the matters described in items 1 and 6 of this disclosure are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this disclosure in item 5 are allocated between the Investment Bank and Corporate Center. |
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 in Corporate Center 1 USD million Global Wealth Manage- ment Personal & Corporate Banking Asset Manage- ment Investment Bank Corporate Center Total 2019 Total 2018 Balance at the beginning of the year 1,003 117 0 269 1,438 2,827 2,508 Increase in provisions recognized in the income statement 188 1 0 60 10 258 905 Release of provisions recognized in the income statement (49) 0 0 (6) (27) (81) (220) Provisions used in conformity with designated purpose (350) (4) 0 (66) (97) (518) (350) Foreign currency translation / unwind of discount (10) (1) 0 (2) 0 (12) (16) Balance at the end of the year 782 113 0 255 1,325 2,475 2,827 1 Provisions, if any, for the matters described in this Note are recorded in Global Wealth Management (items 3, item 4 and item 7) and Corporate Center (item 2). Provisions, if any, for the matters described in items 1 and 6 of this disclosure are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this disclosure in item 5 are allocated between the Investment Bank and Corporate Center. |
Other financial and non-finan_4
Other financial and non-financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other financial liabilities measured at amortized cost | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.19 31.12.18 Other accrued expenses 1,928 2,192 Accrued interest expenses 1,562 1,544 Settlement and clearing accounts 1,379 1,486 Lease liabilities 1 3,943 Other 900 1,663 Total other financial liabilities measured at amortized cost 9,712 6,885 1 Relates to the adoption of IFRS 16 on 1 January 2019. Refer to Note 1 for more information. |
Other financial liabilities designated at fair value | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.19 31.12.18 Financial liabilities related to unit-linked investment contracts 28,145 21,679 Securities financing transactions 5,742 9,461 Over-the-counter debt instruments 2,022 2,450 of which: life-to-date own credit (gain) / loss (4) (51) Other 31 5 Total other financial liabilities designated at fair value 1 35,940 33,594 1 As of 31 December 2019 and 31 December 2018, 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 amount. |
Other non-financial liabilities | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.19 31.12.18 Compensation-related liabilities 6,812 7,278 of which: Deferred Contingent Capital Plan 1,855 1,983 of which: financial advisor compensation plans 1,463 1,458 of which: other compensation plans 2,310 2,480 of which: net defined benefit pension and post-employment liabilities 633 775 of which: other compensation-related liabilities 1 552 581 Current and deferred tax liabilities 1,163 1,002 VAT and other tax payables 475 431 Deferred income 141 215 Other 202 98 Total other non-financial liabilities 8,794 9,022 1 Includes liabilities for payroll taxes and untaken vacation. |
UBS AG | Other financial liabilities measured at amortized cost | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.19 31.12.18 Other accrued expenses 1,697 1,911 Accrued interest expenses 1,596 1,501 Settlement and clearing accounts 1,368 1,477 Lease liabilities 1 3,858 Other 1,854 2,688 Total other financial liabilities measured at amortized cost 10,373 7,576 1 Relates to the adoption of IFRS 16 on 1 January 2019. Refer to Note 1 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 31.12.19 31.12.18 Financial liabilities related to unit-linked investment contracts 28,145 21,679 Securities financing transactions 5,742 9,461 Over-the-counter debt instruments 2,022 2,450 of which: life-to-date own credit (gain) / loss (4) (51) Funding from UBS Group AG and its subsidiaries 217 Other 31 5 Total other financial liabilities designated at fair value 1 36,157 33,594 1 As of 31 December 2019 and 31 December 2018, 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 amount. |
UBS AG | Other non-financial liabilities | |
Disclosure Of Other Liabilities [Line Items] | |
Disclosure Of Other Liabilities Explanatory | USD million 31.12.19 31.12.18 Compensation-related liabilities 4,296 4,645 of which: financial advisor compensation plans 1,459 1,454 of which: other compensation plans 1,750 1,929 of which: net defined benefit pension and post-employment liabilities 629 773 of which: other compensation-related liabilities 1 458 490 Current and deferred tax liabilities 1,091 915 VAT and other tax payables 445 403 Deferred income 134 215 Other 202 98 Total other non-financial liabilities 6,168 6,275 1 Includes liabilities for payroll taxes and untaken vacation. |
Expected credit loss measurem_2
Expected credit loss measurement (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,447 12,367 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 326,786 309,499 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 22,980 21,953 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 576,815 558,420 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 583,159 564,765 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. |
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 about financial instruments and certain other credit lines that are subject to expected credit loss ( ECL ) requirements . UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based on shared risk characteristics and on the same or similar rating methods applied. The key segments are presented in the table below . Refer to Note 23 for more information about expected credit loss measurement Segment Segment description Description of credit risk sensitivit y 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 – Investment Bank Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonalit y, 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 , 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) – 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 Banking Financial intermediaries and hedge funds Lending to financial institutions and pension funds, including exposures to broker-dealers and clearing houses Sensitive to GDP development, the interest rate environment, regulatory changes and political risk – Personal & Corporate Banking – Investment Bank – Corporate Center Refer to Note 23g for more details regarding sensitivity For amortized cost instruments, the net carrying amount 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 amount of these financial assets. Rather, t he carrying amount of financial assets measured at FVOCI represents the maximum exposure to credit risk. No purchased credit-impaired financial assets have been recogn ized 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 othe r credit lines are also subject to ECL. The maximum exposure to credit risk for off-balance sheet financial instruments is calculated based on the maximum contractual amounts . USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,447 12,367 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 326,786 309,499 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 22,980 21,953 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 576,815 558,420 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 583,159 564,765 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. Coverage ratios are calculated by taking ECL allowances and pro visions divided by the gross carrying amount of the exposures. These ratios have remained broadly unchanged in 2019 and are influenced by the following key factors: – s ignificant asset balances are held with central banks as part of the requirement to hold hig h- quality liquid asset s ; – L ombard loans are secured with marketable securities in portfolios which are in general highly diversified with strict lending policies that are intended to ensure that credit risk is minimal under most circumstances ; – m ortgage loans to private clients and real estate financing are controlled by conservative eligibility criteria , including low loan-to-value ratio s and strong debt service capabilit ies . T he risk of rising interest rates has been taken into account in the scenario selection process ; – the amount of u nsecured retail lending (including credit cards) in Switzerland is insignificant ; – contractual maturities in the loan portfolio , which are a factor in the calculation of ECL s , are generally short, with a large part of the loan portfolio having contractual matur ities of 12 month or less; – for example, the carrying amount of Swiss residential mortgage loans would cont inue to be fully covered or 98% covered by real estate collateral, even if the value of that collateral decreased by 20% or 30% , respectively . Certain assets reported in s tage 2 within the P rivate clients with mortgages and Real estate financ ing segments did not have a comparable ra ting on origination upon which to base the assessment of whether a significant increase in credit risk (SICR) has occurred. In accordance with the IFRS 9 transition requirements , a lifetime ECL has been recognized for these assets. In the medium term and based on the current economic outlook, UBS expect s the proportion of these s tage 2 assets to reduce to some extent. 31.12.19 Gross carrying amount (USD million) ECL coverage (bps) Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Loans and advances to customers 327,550 309,581 15,661 2,308 23 3 79 2,420 of which: Private clients with mortgages 132,756 124,077 7,679 1,000 8 1 72 406 of which: Real estate financing 38,524 32,937 5,567 21 11 2 62 1,765 of which: Large corporate clients 9,819 9,199 429 192 119 16 100 5,088 of which: SME clients 12,089 9,834 1,464 791 251 18 104 3,420 of which: Lombard 112,915 112,799 0 116 2 0 0 1,566 of which: Credit cards 1,696 1,322 339 35 205 60 404 3,718 of which: Commodity trade finance 2,925 2,831 8 87 278 17 3 8,844 Other financial assets measured at amortized cost 23,123 21,988 463 672 62 16 274 1,420 of which: Loans to financial advisors 2,987 2,370 344 272 366 122 305 2,570 Total financial assets measured at amortized cost 577,730 558,544 16,206 2,981 16 2 84 2,198 Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,075 564,888 16,206 2,981 16 2 84 2,198 Gross exposure (USD million) ECL coverage (bps) Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,142 17,757 304 82 23 4 30 4,032 Irrevocable loan commitments 27,547 27,078 419 50 13 11 120 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 10 5 143 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 8 8 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 13 7 120 1,822 Total allowances and provisions 29 9 204 4,020 As explained in Note 1a, the assessment of an SICR considers a number of qualitative and quantitative factors to determine if a stage transfer between stage 1 and stage 2 is required. The primary assessment considers changes in probability of default ( PD ) based on rating analyses and economic outlook . Additionally, UBS considers counterparties that have moved to a credit watch list and those with payments that are 30 days past due. USD million ECL allowances / provisions Financial instruments measured at amortized cost Total Stage 1 Stage 2 of which: PD layer of which: watch list of which: ≥30 days past due Stage 3 Mortgages, business loans and related off-balance sheet commitments in the region Switzerland 723 89 137 93 6 38 497 of which: Private clients with mortgages 90 11 53 40 0 13 27 of which: Real estate financing 59 8 47 36 0 11 4 of which: Large corporate clients 57 6 4 0 4 0 47 of which: SME clients 310 25 9 6 2 1 276 of which: Lombard 3 2 0 0 0 0 1 of which: Leasing 42 6 12 11 0 1 24 of which: Credit cards 33 9 11 0 0 11 12 of which: Other 130 23 2 2 0 0 106 |
Disclosure Of Key Macro Economic Variables Explanatory | One year Three years cumulative Key parameters Upside Baseline Mild downside Severe downside Upside Baseline Mild downside Severe downside Real GDP growth (% change) United States 4.3 1.9 (0.5) (6.4) 10.9 6.4 0.0 (4.3) Eurozone 3.6 1.0 (0.3) (9.1) 9.5 2.8 0.7 (10.8) Switzerland 4.2 1.5 (0.8) (7.0) 10.4 4.8 (0.1) (6.2) Consumer price index (% change) United States 3.1 1.8 4.9 (1.2) 8.6 6.2 11.1 0.4 Eurozone 2.1 1.3 2.8 (1.3) 6.7 4.3 6.2 (1.7) Switzerland 1.5 0.8 1.8 (1.8) 5.5 2.7 4.2 (1.6) Unemployment rate (change, percentage points) United States (0.9) (0.4) 0.3 5.7 (0.9) (0.5) 0.7 5.6 Eurozone (1.4) (0.1) 0.6 5.6 (1.9) (0.2) 1.0 7.9 Switzerland (0.3) 0.1 0.5 2.6 (0.8) 0.3 1.2 3.6 Fixed income: 10-year government bonds (change in yields, basis points) USD 61.0 0.2 187.5 (100.0) 274.1 10.1 262.5 (75.0) EUR 65.0 8.4 112.5 (30.0) 221.7 28.2 225.0 (20.0) CHF 73.0 9.5 187.5 (70.0) 283.0 30.0 262.5 (35.0) Equity indices (% change) S&P 500 14.8 3.5 (20.3) (53.0) 42.7 9.5 (23.5) (42.9) EuroStoxx 50 17.0 0.5 (15.5) (60.0) 44.3 4.4 (14.7) (52.9) SPI 13.9 1.4 (19.0) (56.2) 42.2 5.3 (24.0) (46.8) Swiss real estate (% change) Single-Family Homes 4.5 0.1 (7.3) (15.2) 14.1 2.3 (15.8) (27.0) Other real estate (% change) United States (S&P/Case-Shiller) 6.2 4.0 (4.0) (13.3) 17.7 16.7 (11.9) (23.4) Eurozone (House Price Index) 4.9 1.2 (1.2) (23.0) 15.4 2.2 (6.8) (33.2) |
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 31 December 2018 (1,054) (176) (183) (695) ECL movements due to stage transfer 1 0 (96) 103 (8) Net movement from new and derecognized transactions 2 (53) (66) 10 3 of which: Private clients with mortgages (1) (4) 3 0 of which: Real estate financing (3) (5) 2 0 of which: Large corporate clients (6) (14) 8 0 of which: SME clients (16) (14) (2) 0 Book quality movements (52) 141 (97) (96) Remeasurements due to stage transfers 3 (125) 110 (138) (97) of which: Private clients with mortgages (5) 70 (74) (1) of which: Real estate financing 5 21 (16) 0 of which: Large corporate clients (45) 1 (11) (35) of which: SME clients (64) 6 (17) (53) Remeasurements without stage transfers 4 73 31 41 1 of which: Private clients with mortgages 22 2 30 (9) of which: Real estate financing 1 0 0 1 of which: Large corporate clients (24) (10) 0 (14) of which: SME clients 35 9 10 17 Model and methodology changes 5 26 17 9 0 Total ECL movements with profit or loss impact 6 (78) (4) 25 (100) Other allowance and provision movements 105 (1) (2) 108 Write-offs / recoveries 7 130 0 0 130 Reclassifications 8 0 0 0 0 Foreign exchange movements 9 (8) (1) (2) (4) Other (19) 0 0 (18) Balance as of 31 December 2019 (1,029) (181) (160) (688) 1 Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer. 2 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. 3 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 4 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. 5 Represents the change in the allowances and provisions related to changes in models and methodologies. Refer to Note 23b for more information. 6 Includes ECL movements due to stage transfers, ECL movements from new and derecognized transactions, book quality changes and model and methodology changes. 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 31.12.19 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 107.1 107.1 Loans and advances to banks 2 12.4 0.0 12.4 Receivables from securities financing transactions 84.2 77.6 5.8 0.8 Cash collateral receivables on derivative instruments 3,4 23.3 14.4 8.9 Loans and advances to customers 5 326.8 18.4 101.4 174.7 17.1 1.1 14.0 Other financial assets measured at amortized cost 23.0 0.1 0.4 0.0 1.3 21.1 Total financial assets measured at amortized cost 576.8 18.6 179.4 174.7 24.3 14.4 0.0 1.1 164.4 Financial assets measured at fair value through other comprehensive income – debt 6.3 6.3 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 583.2 18.6 179.4 174.7 24.3 14.4 0.0 1.1 170.7 Guarantees 6 18.1 1.0 3.0 0.1 1.7 2.5 9.8 Loan commitments 6 27.5 0.2 1.9 1.3 5.8 0.2 0.2 18.0 Forward starting transactions, reverse repurchase and securities borrowing agreements 1.7 1.7 0.0 Committed unconditionally revocable credit lines 35.1 0.3 8.3 4.9 3.6 0.0 17.9 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 82.3 1.5 14.9 6.3 11.0 0.0 0.2 2.8 45.7 Maximum exposure to credit risk (continued) 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 1 Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities. 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 31.12.19 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 105,195 1,873 0 0 0 0 107,068 0 107,068 of which: stage 1 105,195 1,873 0 0 0 0 107,068 0 107,068 Loans and advances to banks 309 9,832 1,326 687 298 1 12,454 (6) 12,447 of which: stage 1 309 9,832 1,326 677 228 0 12,371 (4) 12,367 of which: stage 2 0 0 0 10 71 0 81 (1) 80 of which: stage 3 0 0 0 0 0 1 1 (1) 0 Receivables from securities financing transactions 21,089 16,889 14,366 28,815 3,088 0 84,246 (2) 84,245 of which: stage 1 21,089 16,889 14,366 28,815 3,088 0 84,246 (2) 84,245 Cash collateral receivables on derivative instruments 4,899 10,553 5,033 2,765 39 0 23,289 0 23,289 of which: stage 1 4,899 10,553 5,033 2,765 39 0 23,289 0 23,289 Loans and advances to customers 1,744 174,982 59,240 70,528 18,748 2,308 327,550 (764) 326,786 of which: stage 1 1,744 174,328 56,957 62,435 14,117 0 309,581 (82) 309,499 of which: stage 2 0 655 2,283 8,093 4,631 0 15,661 (123) 15,538 of which: stage 3 0 0 0 0 0 2,308 2,308 (559) 1,749 Other financial assets measured at amortized cost 13,031 1,560 390 7,158 312 672 23,123 (143) 22,980 of which: stage 1 13,031 1,549 381 6,747 280 0 21,988 (35) 21,953 of which: stage 2 0 11 9 412 32 0 463 (13) 451 of which: stage 3 0 0 0 0 0 672 672 (95) 576 Total financial assets measured at amortized cost 146,267 215,690 80,354 109,952 22,485 2,981 577,730 (915) 576,815 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 5,854 450 0 41 0 0 6,345 0 6,345 Total on-balance sheet financial instruments 152,120 216,139 80,354 109,994 22,485 2,981 584,075 (915) 583,159 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 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. |
Disclosure Of Off Balance Sheet Positions By Rating Category Explanatory | Off-balance sheet positions subject to expected credit loss by rating category USD million 31.12.19 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 857 4,932 6,060 5,450 761 82 18,142 (42) of which: stage 1 857 4,931 6,048 5,218 704 0 17,757 (8) of which: stage 2 0 1 12 233 57 0 304 (1) of which: stage 3 0 0 0 0 0 82 82 (33) Irrevocable loan commitments 2,548 10,068 4,862 5,859 4,160 50 27,547 (35) of which: stage 1 2,548 10,068 4,862 5,722 3,878 0 27,078 (30) of which: stage 2 0 0 0 137 282 0 419 (5) of which: stage 3 0 0 0 0 0 50 50 0 Forward starting reverse repurchase and securities borrowing agreements 0 672 50 936 0 0 1,657 0 Total off-balance sheet financial instruments 3,405 15,672 10,972 12,245 4,922 132 47,347 (77) Other credit lines Committed unconditionally revocable credit lines 632 12,459 6,231 7,169 8,554 46 35,092 (34) of which: stage 1 628 12,422 6,120 6,789 7,889 0 33,848 (17) of which: stage 2 4 37 111 380 665 0 1,197 (17) of which: stage 3 0 0 0 0 0 46 46 0 Irrevocable committed prolongation of existing loans 25 1,399 870 633 359 4 3,289 (3) of which: stage 1 25 1,399 870 633 359 0 3,285 (3) of which: stage 2 0 0 0 0 0 0 0 0 of which: stage 3 0 0 0 0 0 4 4 0 Total other credit lines 657 13,858 7,101 7,801 8,913 50 38,381 (37) 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 31.12.19 Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to banks 1 (1) 0 0 Loans and advances to customers 2,308 (559) 1,749 1,698 of which: Private clients with mortgages 1,000 (41) 959 959 of which: Real estate financing 21 (4) 17 13 of which: Large corporate clients 192 (98) 94 77 of which: SME clients 791 (271) 521 461 of which: Lombard 116 (18) 98 89 Other financial assets measured at amortized cost 672 (95) 576 22 Total credit-impaired financial assets measured at amortized cost 2,981 1 (655) 1 2,326 1,720 Guarantees 82 (33) 10 of which: Large corporate clients 24 (9) 8 of which: SME clients 58 (23) 2 Loan commitments 50 0 12 Committed unconditionally revocable credit lines 46 0 5 Irrevocable committed prolongation of existing loans 4 0 0 Total off-balance sheet financial instruments and other credit lines 182 1 (33) 1 27 1 Under IFRS 9, adopted on 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). |
Scenario Sensitivity Analysis Explanatory | Actual ECL allowances and provisions (as per Note 10) Pro forma ECL allowances and provisions, assuming application of 100% weighting Pro forma ECL allowances and provisions, assuming all positions being subject to lifetime ECL Scenarios Weighted average Baseline Upside Mild downside Severe downside Weighted average USD million, except where indicated ECL in % of baseline 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 73 248 32 100 27 84 107 336 179 562 191 646 Real estate financing 55 169 35 100 28 81 61 175 128 368 82 251 Large corporate clients 48 151 32 100 28 87 39 120 106 329 95 296 SME clients 51 112 45 100 42 93 55 121 67 147 93 205 Other segments 113 127 90 100 78 87 126 140 166 185 252 283 Total 341 149 234 100 203 87 387 166 646 276 713 312 |
UBS AG | |
Disclosure Of Financial Assets [Line Item] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,379 12,298 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 327,992 310,705 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 23,012 21,985 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 577,985 559,590 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,329 565,935 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. |
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 about financial instruments and certain other credit lines that are subject to expected credit loss ( ECL ) requirements . UBS has established ECL disclosure segments or “ECL segments” to disaggregate portfolios based on shared risk chara cteristics and on the same or similar rating methods applied. The key segments are presented in the table below . Refer to Note 23 for more information about expected credit loss measurement Segment Segment description Descriptio n 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 – Investment Bank Large corporate clients Lending to large corporate and multinational clients Sensitive to GDP development, seasonalit y, 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 , 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) – 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 Banking Financial intermediaries and hedge funds Lending to financial institutions and pension funds, including exposures to broker-dealers and clearing houses Sensitive to GDP development, the interest rate environment, regulatory changes and political risk – Personal & Corporate Banking – Investment Bank – Corporate Center Refer to Note 23g for more details regarding sensitivity For amortized cost instruments, the net carrying amount represents the maximum exposure to credit risk, taking into account the allowance for credit losses. Financial assets measured at fair value through other c omprehensive income (FVOCI) are also subject to ECL; however, unlike for amortized cost instruments, the allowance does not reduce the carrying amount of these financial assets. Rather, t he carrying amount of financial assets measured at FVOCI represents t he maximum exposure to credit risk. No purchased credit-impaired financial assets have been 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 addi tion 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 the maximum co ntractual amounts . USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,379 12,298 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 327,992 310,705 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 23,012 21,985 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 577,985 559,590 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,329 565,935 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. Coverage ratios are calculated by taking ECL allowances and pro visions divided by the gross carrying amount of the exposures. These ratios have remained broadly unchanged in 2019 and are influenced by the following key factors: – s ignificant asset balances are held with central banks as part of the requirement to hold hig h- quality liquid asset s ; – L ombard loans are secured with marketable securities in portfolios which are in general highly diversified with strict lending policies that are intended to ensure that credit risk is minimal under most circumstances ; – m ortgage loans to private clients and real estate financing are controlled by conservative eligibility criteria , including low loan-to-value ratio s and strong debt service capabilit ies . T he risk of rising interest rates has been taken into account in the scenario selection process ; – the amount of u nsecured retail lending (including credit cards) in Switzerland is insignificant ; – contractual maturities in the loan portfolio , which are a factor in the calculation of ECL s , are generally short, with a large part of the loan portfolio having contractual maturities of 12 month or less; – for example, the carrying amount of Sw iss residential mortgage loans would continue to be fully covered or 98% covered by real estate collateral, even if the value of that collateral decreased by 20% or 30% , respectively. Certain assets reported in s tage 2 within the P rivate clients with mortgages and Real estate financ ing segments did not have a comparable ra ting on origination upon which to base the assessment of whether a significant increase in credit risk (SICR) has occurred. In accordance with the IFRS 9 transition requirements , a lifetime ECL has been recognized for these assets. In the medium term and based on the current economic outlook, UBS expect s the proportion of these s tage 2 assets to reduce to some extent. 31.12.19 Gross carrying amount (USD million) ECL coverage (bps) Financial instruments measured at amortized cost Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Loans and advances to customers 328,756 310,787 15,661 2,308 23 3 79 2,420 of which: Private clients with mortgages 132,756 124,077 7,679 1,000 8 1 72 406 of which: Real estate financing 38,524 32,937 5,567 21 11 2 62 1,765 of which: Large corporate clients 9,819 9,199 429 192 119 16 100 5,088 of which: SME clients 12,089 9,834 1,464 791 251 18 104 3,420 of which: Lombard 112,915 112,799 0 116 2 0 0 1,566 of which: Credit cards 1,696 1,322 339 35 205 60 404 3,718 of which: Commodity trade finance 2,925 2,831 8 87 278 17 3 8,844 Other financial assets measured at amortized cost 23,154 22,019 463 672 62 16 274 1,420 of which: Loans to financial advisors 2,987 2,370 344 272 366 122 305 2,570 Total financial assets measured at amortized cost 578,899 559,714 16,206 2,981 16 2 84 2,198 Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 585,245 566,059 16,206 2,981 16 2 84 2,198 Gross exposure (USD million) ECL coverage (bps) Off-balance sheet (in scope of ECL) Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Guarantees 18,142 17,757 304 82 23 4 30 4,032 Irrevocable loan commitments 27,547 27,078 419 50 13 11 120 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 9 5 143 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 8 8 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 13 7 120 1,822 Total allowances and provisions 29 9 204 4,020 As explained in Note 1a, the assessment of an SICR considers a number of qualitative and quantitative factors to determine if a stage transfer between stage 1 and stage 2 is required. The primary assessment considers changes in probability of default ( PD ) based on rating analyses and economic outlook . Additionally, UBS considers counterparties that have moved to a credit watch list and those with payments that are 30 days past due. USD million ECL allowances / provisions Financial instruments measured at amortized cost Total Stage 1 Stage 2 of which: PD layer of which: watch list of which: ≥30 days past due Stage 3 Mortgages, business loans and related off-balance sheet commitments in the region Switzerland 723 89 137 93 6 38 497 of which: Private clients with mortgages 88 11 53 40 0 13 27 of which: Real estate financing 59 8 47 36 0 11 4 of which: Large corporate clients 57 6 4 0 4 0 47 of which: SME clients 310 25 9 6 2 1 276 of which: Lombard 3 2 0 0 0 0 1 of which: Leasing 42 6 12 11 0 1 24 of which: Credit cards 33 9 11 0 0 11 12 of which: Other 128 23 2 2 0 0 106 |
Disclosure Of Key Macro Economic Variables Explanatory | One year Three years cumulative Key parameters Upside Baseline Mild downside Severe downside Upside Baseline Mild downside Severe downside Real GDP growth (% change) United States 4.3 1.9 (0.5) (6.4) 10.9 6.4 0.0 (4.3) Eurozone 3.6 1.0 (0.3) (9.1) 9.5 2.8 0.7 (10.8) Switzerland 4.2 1.5 (0.8) (7.0) 10.4 4.8 (0.1) (6.2) Consumer price index (% change) United States 3.1 1.8 4.9 (1.2) 8.6 6.2 11.1 0.4 Eurozone 2.1 1.3 2.8 (1.3) 6.7 4.3 6.2 (1.7) Switzerland 1.5 0.8 1.8 (1.8) 5.5 2.7 4.2 (1.6) Unemployment rate (change, percentage points) United States (0.9) (0.4) 0.3 5.7 (0.9) (0.5) 0.7 5.6 Eurozone (1.4) (0.1) 0.6 5.6 (1.9) (0.2) 1.0 7.9 Switzerland (0.3) 0.1 0.5 2.6 (0.8) 0.3 1.2 3.6 Fixed income: 10-year government bonds (change in yields, basis points) USD 61.0 0.2 187.5 (100.0) 274.1 10.1 262.5 (75.0) EUR 65.0 8.4 112.5 (30.0) 221.7 28.2 225.0 (20.0) CHF 73.0 9.5 187.5 (70.0) 283.0 30.0 262.5 (35.0) Equity indices (% change) S&P 500 14.8 3.5 (20.3) (53.0) 42.7 9.5 (23.5) (42.9) EuroStoxx 50 17.0 0.5 (15.5) (60.0) 44.3 4.4 (14.7) (52.9) SPI 13.9 1.4 (19.0) (56.2) 42.2 5.3 (24.0) (46.8) Swiss real estate (% change) Single-Family Homes 4.5 0.1 (7.3) (15.2) 14.1 2.3 (15.8) (27.0) Other real estate (% change) United States (S&P/Case-Shiller) 6.2 4.0 (4.0) (13.3) 17.7 16.7 (11.9) (23.4) Eurozone (House Price Index) 4.9 1.2 (1.2) (23.0) 15.4 2.2 (6.8) (33.2) |
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 31 December 2018 (1,054) (176) (183) (695) ECL movements due to stage transfer 1 0 (96) 103 (8) Net movement from new and derecognized transactions 2 (53) (66) 10 3 of which: Private clients with mortgages (1) (4) 3 0 of which: Real estate financing (3) (5) 2 0 of which: Large corporate clients (6) (14) 8 0 of which: SME clients (16) (14) (2) 0 Book quality movements (52) 141 (97) (96) Remeasurements due to stage transfers 3 (125) 110 (138) (97) of which: Private clients with mortgages (5) 70 (74) (1) of which: Real estate financing 5 21 (16) 0 of which: Large corporate clients (45) 1 (11) (35) of which: SME clients (64) 6 (17) (53) Remeasurements without stage transfers 4 73 31 41 1 of which: Private clients with mortgages 22 2 30 (9) of which: Real estate financing 1 0 0 1 of which: Large corporate clients (24) (10) 0 (14) of which: SME clients 35 9 10 17 Model and methodology changes 5 26 17 9 0 Total ECL movements with profit or loss impact 6 (78) (4) 25 (100) Other allowance and provision movements 105 (1) (2) 108 Write-offs / recoveries 7 130 0 0 130 Reclassifications 8 0 0 0 0 Foreign exchange movements 9 (8) (1) (2) (4) Other (19) 0 0 (18) Balance as of 31 December 2019 (1,029) (181) (160) (688) 1 Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer. 2 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. 3 Represents the remeasurement between 12-month and lifetime ECL due to stage transfers. 4 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. 5 Represents the change in the allowances and provisions related to changes in models and methodologies. Refer to Note 23b for more information. 6 Includes ECL movements due to stage transfers, ECL movements from new and derecognized transactions, book quality changes and model and methodology changes. 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 31.12.19 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 107.1 107.1 Loans and advances to banks 2 12.4 0.0 12.3 Receivables from securities financing transactions 84.2 77.6 5.8 0.8 Cash collateral receivables on derivative instruments 3,4 23.3 14.4 8.9 Loans and advances to customers 5 328.0 19.4 101.4 174.7 17.1 1.1 14.3 Other financial assets measured at amortized cost 23.0 0.1 0.4 0.0 1.3 21.2 Total financial assets measured at amortized cost 578.0 19.5 179.4 174.7 24.3 14.4 0.0 1.1 164.6 Financial assets measured at fair value through other comprehensive income – debt 6.3 6.3 Total maximum exposure to credit risk reflected on the balance sheet in scope of ECL 584.3 19.5 179.4 174.7 24.3 14.4 0.0 1.1 171.0 Guarantees 6 18.1 1.0 3.0 0.1 1.7 2.5 9.8 Loan commitments 6 27.5 0.2 1.9 1.3 5.8 0.2 0.2 18.0 Forward starting transactions, reverse repurchase and securities borrowing agreements 1.7 1.7 0.0 Committed unconditionally revocable credit lines 36.9 0.3 8.3 4.9 3.6 0.0 19.8 Total maximum exposure to credit risk not reflected on the balance sheet, in scope of ECL 84.2 1.5 14.9 6.3 11.0 0.0 0.2 2.8 47.6 Maximum exposure to credit risk (continued) 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 1 Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities. 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 31.12.19 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 105,195 1,873 0 0 0 0 107,068 0 107,068 of which: stage 1 105,195 1,873 0 0 0 0 107,068 0 107,068 Loans and advances to banks 309 9,764 1,326 687 298 1 12,386 (6) 12,379 of which: stage 1 309 9,764 1,326 677 228 0 12,303 (4) 12,299 of which: stage 2 0 0 0 10 71 0 81 (1) 80 of which: stage 3 0 0 0 0 0 1 1 (1) 0 Receivables from securities financing transactions 21,089 16,889 14,366 28,815 3,088 0 84,246 (2) 84,245 of which: stage 1 21,089 16,889 14,366 28,815 3,088 0 84,246 (2) 84,245 Cash collateral receivables on derivative instruments 4,899 10,553 5,033 2,765 39 0 23,289 0 23,289 of which: stage 1 4,899 10,553 5,033 2,765 39 0 23,289 0 23,289 Loans and advances to customers 1,744 176,189 59,240 70,528 18,748 2,308 328,756 (764) 327,992 of which: stage 1 1,744 175,534 56,957 62,435 14,117 0 310,787 (82) 310,705 of which: stage 2 0 655 2,283 8,093 4,631 0 15,661 (123) 15,538 of which: stage 3 0 0 0 0 0 2,308 2,308 (559) 1,749 Other financial assets measured at amortized cost 13,030 1,592 390 7,158 312 672 23,154 (143) 23,012 of which: stage 1 13,030 1,581 381 6,747 280 0 22,019 (35) 21,985 of which: stage 2 0 11 9 412 32 0 463 (13) 451 of which: stage 3 0 0 0 0 0 672 672 (95) 576 Total financial assets measured at amortized cost 146,267 216,860 80,354 109,952 22,485 2,981 578,899 (915) 577,985 On-balance sheet financial instruments Financial assets measured at FVOCI – debt instruments 5,854 450 0 41 0 0 6,345 0 6,345 Total on balance sheet financial instruments 152,120 217,309 80,354 109,994 22,485 2,981 585,245 (915) 584,329 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 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. |
Disclosure Of Off Balance Sheet Positions By Rating Category Explanatory | Off-balance sheet positions subject to expected credit loss by rating category USD million 31.12.19 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 857 4,932 6,060 5,450 761 82 18,142 (42) of which: stage 1 857 4,931 6,048 5,218 704 0 17,757 (8) of which: stage 2 0 1 12 233 57 0 304 (1) of which: stage 3 0 0 0 0 0 82 82 (33) Irrevocable loan commitments 2,548 10,068 4,862 5,859 4,160 50 27,547 (35) of which: stage 1 2,548 10,068 4,862 5,722 3,878 0 27,078 (30) of which: stage 2 0 0 0 137 282 0 419 (5) of which: stage 3 0 0 0 0 0 50 50 0 Forward starting reverse repurchase and securities borrowing agreements 0 672 50 936 0 0 1,657 0 Total off balance sheet financial instruments 3,405 15,672 10,972 12,245 4,922 132 47,347 (77) Other credit lines Committed unconditionally revocable credit lines 632 14,346 6,231 7,169 8,554 46 36,979 (34) of which: stage 1 632 14,309 6,120 6,789 7,889 0 35,740 (17) of which: stage 2 0 37 111 380 665 0 1,193 (17) of which: stage 3 0 0 0 0 0 46 46 0 Irrevocable committed prolongation of existing loans 25 1,399 870 633 359 4 3,289 (3) of which: stage 1 25 1,399 870 633 359 0 3,285 (3) of which: stage 2 0 0 0 0 0 0 0 0 of which: stage 3 0 0 0 0 0 4 4 0 Total other credit lines 657 15,745 7,101 7,801 8,913 50 40,268 (37) 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 31.12.19 Gross carrying amount Allowance for expected credit losses Net carrying amount Collateral / credit enhancements Loans and advances to banks 1 (1) 0 0 Loans and advances to customers 2,308 (559) 1,749 1,698 of which: Private clients with mortgages 1,000 (41) 959 959 of which: Real estate financing 21 (4) 17 13 of which: Large corporate clients 192 (98) 94 77 of which: SME clients 791 (271) 521 461 of which: Lombard 116 (18) 98 89 Other financial assets measured at amortized cost 672 (95) 576 22 Total credit-impaired financial assets measured at amortized cost 2,981 1 (655) 1 2,326 1,720 Guarantees 82 (33) 10 of which: Large corporate clients 24 (9) 8 of which: SME clients 58 (23) 2 Loan commitments 50 0 12 Committed unconditionally revocable credit lines 46 0 5 Irrevocable committed prolongation of existing loans 4 0 0 Total off-balance sheet financial instruments and other credit lines 182 1 (33) 1 27 1 Under IFRS 9, adopted on 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). |
Scenario Sensitivity Analysis Explanatory | Actual ECL allowances and provisions (as per Note 10) Pro forma ECL allowances and provisions, assuming application of 100% weighting Pro forma ECL allowances and provisions, assuming all positions being subject to lifetime ECL Scenarios Weighted average Baseline Upside Mild downside Severe downside Weighted average USD million, except where indicated ECL in % of baseline 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 73 248 32 100 27 84 107 336 179 562 191 646 Real estate financing 55 169 35 100 28 81 61 175 128 368 82 251 Large corporate clients 48 151 32 100 28 87 39 120 106 329 95 296 SME clients 51 112 45 100 42 93 55 121 67 147 93 205 Other segments 113 127 90 100 78 87 126 140 166 185 252 283 Total 341 149 234 100 203 87 387 166 646 276 713 312 |
Fair value measurement (Tables)
Fair value measurement (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Maximum Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.19 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 4 121.8 3.3 107.4 11.1 Brokerage receivables 18.0 17.8 0.2 Financial assets at fair value not held for trading – debt instruments 5 55.0 0.1 16.3 0.1 38.6 Total financial assets measured at fair value 216.7 0.1 37.4 0.0 0.1 107.4 0.0 0.0 71.7 Guarantees 6 1.0 0.3 0.7 Loan commitments 6 6.3 3.0 0.1 0.9 2.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 20.3 20.3 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 27.6 0.0 20.3 0.0 3.0 0.0 0.1 1.2 3.0 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 5 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 6 1.6 0.2 1.4 Loan commitments 6 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 1 Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities. 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 Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 6 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 31.12.19 31.12.18 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 113,634 12,068 1,812 127,514 88,452 13,956 1,962 104,370 of which: Equity instruments 96,161 400 226 96,787 72,266 455 46 72,768 Government bills / bonds 9,630 1,770 64 11,464 9,554 1,607 0 11,161 Investment fund units 7,088 1,729 50 8,867 6,074 3,200 442 9,716 Corporate and municipal bonds 755 6,617 542 7,914 558 5,559 651 6,768 Loans 0 1,180 791 1,971 0 2,886 680 3,566 Asset-backed securities 0 372 140 512 0 248 144 392 Derivative financial instruments 356 120,222 1,264 121,841 753 124,033 1,424 126,210 of which: Foreign exchange contracts 240 52,227 8 52,474 311 53,148 30 53,489 Interest rate contracts 6 42,288 263 42,558 0 36,658 418 37,076 Equity / index contracts 7 22,220 597 22,825 3 30,905 496 31,404 Credit derivative contracts 0 1,612 394 2,007 0 1,444 476 1,920 Commodity contracts 0 1,820 0 1,821 0 1,768 2 1,769 Brokerage receivables 0 18,007 0 18,007 0 16,840 0 16,840 Financial assets at fair value not held for trading 40,608 39,373 3,963 83,944 40,204 38,073 4,413 82,690 of which: Financial assets for unit-linked investment contracts 2 27,568 118 0 27,686 21,440 5 0 21,446 Corporate and municipal bonds 653 18,732 0 19,385 781 16,455 0 17,236 Government bills / bonds 12,089 3,700 0 15,790 17,687 4,806 0 22,493 Loans 0 10,206 1,231 11,438 0 6,380 1,752 8,132 Securities financing transactions 0 6,148 147 6,294 0 9,899 39 9,937 Auction rate securities 0 0 1,536 1,536 0 0 1,664 1,664 Investment fund units 194 448 98 740 173 428 109 710 Equity instruments 103 4 452 559 123 62 517 702 Other 0 16 499 515 0 38 331 369 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 1,906 4,439 0 6,345 2,319 4,347 0 6,667 of which: Asset-backed securities 0 3,955 0 3,955 0 3,931 0 3,931 Government bills / bonds 1,859 16 0 1,875 2,171 69 0 2,239 Corporate and municipal bonds 47 468 0 515 149 348 0 497 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,597 0 0 4,597 4,298 0 0 4,298 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 3 0 0 199 199 0 82 0 82 Total assets measured at fair value 161,101 194,110 7,237 362,448 136,026 197,331 7,800 341,156 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.19 31.12.18 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 25,791 4,726 75 30,591 24,406 4,468 69 28,943 of which: Equity instruments 22,526 149 59 22,734 21,306 537 42 21,886 Corporate and municipal bonds 40 3,606 16 3,661 126 3,377 27 3,530 Government bills / bonds 2,820 646 0 3,466 2,423 416 0 2,839 Investment fund units 404 294 0 698 551 137 0 689 Derivative financial instruments 385 118,498 1,996 120,880 580 122,933 2,210 125,723 of which: Foreign exchange contracts 248 53,705 60 54,013 322 52,964 86 53,372 Interest rate contracts 7 36,434 130 36,571 7 32,511 226 32,743 Equity / index contracts 3 24,171 1,293 25,468 1 33,669 1,371 35,041 Credit derivative contracts 0 2,448 512 2,960 0 2,203 519 2,722 Commodity contracts 0 1,707 0 1,707 0 1,487 0 1,487 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 0 37,233 0 37,233 0 38,420 0 38,420 Debt issued designated at fair value 0 56,943 9,866 66,809 0 46,074 10,957 57,031 Other financial liabilities designated at fair value 0 35,119 822 35,940 0 32,569 1,025 33,594 of which: Financial liabilities related to unit-linked investment contracts 0 28,145 0 28,145 0 21,679 0 21,679 Securities financing transactions 0 5,742 0 5,742 0 9,461 0 9,461 Over-the-counter debt instruments 0 1,231 791 2,022 0 1,427 1,023 2,450 Total liabilities measured at fair value 26,176 252,518 12,759 291,452 24,986 244,465 14,260 283,711 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 Fair value hierarchy information for Financial assets for unit-linked investment contracts in the comparative period has been restated, resulting in an increase in Level 1 assets of USD 4,746 million as of 31 December 2018, with a corresponding decrease in Level 2 assets. 3 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) 31.12.19 31.12.18 USD billion 31.12.19 31.12.18 31.12.19 31.12.18 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 Corporate and municipal bonds 0.5 0.7 0.0 0.0 Relative value to market comparable Bond price equivalent 0 143 101 0 134 89 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.4 2.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 99 0 100 99 points Discounted expected cash flows Credit spread 225 530 301 513 basis points Market comparable and securitization model Discount margin 0 14 2 1 14 2 % Auction rate securities 1.5 1.7 Relative value to market comparable Bond price equivalent 79 98 88 79 99 89 points Investment fund units 3 0.1 0.6 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.7 0.6 0.1 0.0 Relative value to market comparable Price Debt issued designated at fair value 4 9.9 11.0 Other financial liabilities designated at fair value 4 0.8 1.0 Derivative financial instruments Interest rate contracts 0.3 0.4 0.1 0.2 Option model Volatility of interest rates 15 63 50 81 basis points Credit derivative contracts 0.4 0.5 0.5 0.5 Discounted expected cash flows Credit spreads 1 700 4 545 basis points Bond price equivalent 0 100 3 99 points Equity / index contracts 0.6 0.5 1.3 1.4 Option model Equity dividend yields 0 14 0 12 % Volatility of equity stocks, equity and other indices 4 105 4 93 % Equity-to-FX correlation (45) 71 (39) 67 % Equity-to-equity correlation (17) 98 (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 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 4 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. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.19 31.12.18 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 113,634 12,068 1,812 127,514 88,452 13,956 1,962 104,370 of which: Equity instruments 96,161 400 226 96,787 72,266 455 46 72,768 Government bills / bonds 9,630 1,770 64 11,464 9,554 1,607 0 11,161 Investment fund units 7,088 1,729 50 8,867 6,074 3,200 442 9,716 Corporate and municipal bonds 755 6,617 542 7,914 558 5,559 651 6,768 Loans 0 1,180 791 1,971 0 2,886 680 3,566 Asset-backed securities 0 372 140 512 0 248 144 392 Derivative financial instruments 356 120,222 1,264 121,841 753 124,033 1,424 126,210 of which: Foreign exchange contracts 240 52,227 8 52,474 311 53,148 30 53,489 Interest rate contracts 6 42,288 263 42,558 0 36,658 418 37,076 Equity / index contracts 7 22,220 597 22,825 3 30,905 496 31,404 Credit derivative contracts 0 1,612 394 2,007 0 1,444 476 1,920 Commodity contracts 0 1,820 0 1,821 0 1,768 2 1,769 Brokerage receivables 0 18,007 0 18,007 0 16,840 0 16,840 Financial assets at fair value not held for trading 40,608 39,373 3,963 83,944 40,204 38,073 4,413 82,690 of which: Financial assets for unit-linked investment contracts 2 27,568 118 0 27,686 21,440 5 0 21,446 Corporate and municipal bonds 653 18,732 0 19,385 781 16,455 0 17,236 Government bills / bonds 12,089 3,700 0 15,790 17,687 4,806 0 22,493 Loans 0 10,206 1,231 11,438 0 6,380 1,752 8,132 Securities financing transactions 0 6,148 147 6,294 0 9,899 39 9,937 Auction rate securities 0 0 1,536 1,536 0 0 1,664 1,664 Investment fund units 194 448 98 740 173 428 109 710 Equity instruments 103 4 452 559 123 62 517 702 Other 0 16 499 515 0 38 331 369 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 1,906 4,439 0 6,345 2,319 4,347 0 6,667 of which: Asset-backed securities 0 3,955 0 3,955 0 3,931 0 3,931 Government bills / bonds 1,859 16 0 1,875 2,171 69 0 2,239 Corporate and municipal bonds 47 468 0 515 149 348 0 497 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,597 0 0 4,597 4,298 0 0 4,298 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 3 0 0 199 199 0 82 0 82 Total assets measured at fair value 161,101 194,110 7,237 362,448 136,026 197,331 7,800 341,156 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.19 31.12.18 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 25,791 4,726 75 30,591 24,406 4,468 69 28,943 of which: Equity instruments 22,526 149 59 22,734 21,306 537 42 21,886 Corporate and municipal bonds 40 3,606 16 3,661 126 3,377 27 3,530 Government bills / bonds 2,820 646 0 3,466 2,423 416 0 2,839 Investment fund units 404 294 0 698 551 137 0 689 Derivative financial instruments 385 118,498 1,996 120,880 580 122,933 2,210 125,723 of which: Foreign exchange contracts 248 53,705 60 54,013 322 52,964 86 53,372 Interest rate contracts 7 36,434 130 36,571 7 32,511 226 32,743 Equity / index contracts 3 24,171 1,293 25,468 1 33,669 1,371 35,041 Credit derivative contracts 0 2,448 512 2,960 0 2,203 519 2,722 Commodity contracts 0 1,707 0 1,707 0 1,487 0 1,487 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 0 37,233 0 37,233 0 38,420 0 38,420 Debt issued designated at fair value 0 56,943 9,866 66,809 0 46,074 10,957 57,031 Other financial liabilities designated at fair value 0 35,119 822 35,940 0 32,569 1,025 33,594 of which: Financial liabilities related to unit-linked investment contracts 0 28,145 0 28,145 0 21,679 0 21,679 Securities financing transactions 0 5,742 0 5,742 0 9,461 0 9,461 Over-the-counter debt instruments 0 1,231 791 2,022 0 1,427 1,023 2,450 Total liabilities measured at fair value 26,176 252,518 12,759 291,452 24,986 244,465 14,260 283,711 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 Fair value hierarchy information for Financial assets for unit-linked investment contracts in the comparative period has been restated, resulting in an increase in Level 1 assets of USD 4,746 million as of 31 December 2018, with a corresponding decrease in Level 2 assets. 3 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) 31.12.19 31.12.18 USD billion 31.12.19 31.12.18 31.12.19 31.12.18 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 Corporate and municipal bonds 0.5 0.7 0.0 0.0 Relative value to market comparable Bond price equivalent 0 143 101 0 134 89 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.4 2.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 99 0 100 99 points Discounted expected cash flows Credit spread 225 530 301 513 basis points Market comparable and securitization model Discount margin 0 14 2 1 14 2 % Auction rate securities 1.5 1.7 Relative value to market comparable Bond price equivalent 79 98 88 79 99 89 points Investment fund units 3 0.1 0.6 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.7 0.6 0.1 0.0 Relative value to market comparable Price Debt issued designated at fair value 4 9.9 11.0 Other financial liabilities designated at fair value 4 0.8 1.0 Derivative financial instruments Interest rate contracts 0.3 0.4 0.1 0.2 Option model Volatility of interest rates 15 63 50 81 basis points Credit derivative contracts 0.4 0.5 0.5 0.5 Discounted expected cash flows Credit spreads 1 700 4 545 basis points Bond price equivalent 0 100 3 99 points Equity / index contracts 0.6 0.5 1.3 1.4 Option model Equity dividend yields 0 14 0 12 % Volatility of equity stocks, equity and other indices 4 105 4 93 % Equity-to-FX correlation (45) 71 (39) 67 % Equity-to-equity correlation (17) 98 (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 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 4 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. |
Disclosure Of Deferred Day-One Profit Or Loss Explanatory | Deferred day-1 profit or loss reserves USD million 2019 2018 2017 Reserve balance at the beginning of the year 255 338 365 Profit / (loss) deferred on new transactions 171 341 247 (Profit) / loss recognized in the income statement (278) (417) (279) Foreign currency translation (2) (6) 6 Reserve balance at the end of the year 146 255 338 |
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) 31.12.19 31.12.18 USD billion 31.12.19 31.12.18 31.12.19 31.12.18 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 Corporate and municipal bonds 0.5 0.7 0.0 0.0 Relative value to market comparable Bond price equivalent 0 143 101 0 134 89 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.4 2.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 99 0 100 99 points Discounted expected cash flows Credit spread 225 530 301 513 basis points Market comparable and securitization model Discount margin 0 14 2 1 14 2 % Auction rate securities 1.5 1.7 Relative value to market comparable Bond price equivalent 79 98 88 79 99 89 points Investment fund units 3 0.1 0.6 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.7 0.6 0.1 0.0 Relative value to market comparable Price Debt issued designated at fair value 4 9.9 11.0 Other financial liabilities designated at fair value 4 0.8 1.0 Derivative financial instruments Interest rate contracts 0.3 0.4 0.1 0.2 Option model Volatility of interest rates 15 63 50 81 basis points Credit derivative contracts 0.4 0.5 0.5 0.5 Discounted expected cash flows Credit spreads 1 700 4 545 basis points Bond price equivalent 0 100 3 99 points Equity / index contracts 0.6 0.5 1.3 1.4 Option model Equity dividend yields 0 14 0 12 % Volatility of equity stocks, equity and other indices 4 105 4 93 % Equity-to-FX correlation (45) 71 (39) 67 % Equity-to-equity correlation (17) 98 (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 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 4 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. |
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) 31.12.19 31.12.18 USD billion 31.12.19 31.12.18 31.12.19 31.12.18 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 Corporate and municipal bonds 0.5 0.7 0.0 0.0 Relative value to market comparable Bond price equivalent 0 143 101 0 134 89 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.4 2.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 99 0 100 99 points Discounted expected cash flows Credit spread 225 530 301 513 basis points Market comparable and securitization model Discount margin 0 14 2 1 14 2 % Auction rate securities 1.5 1.7 Relative value to market comparable Bond price equivalent 79 98 88 79 99 89 points Investment fund units 3 0.1 0.6 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.7 0.6 0.1 0.0 Relative value to market comparable Price Debt issued designated at fair value 4 9.9 11.0 Other financial liabilities designated at fair value 4 0.8 1.0 Derivative financial instruments Interest rate contracts 0.3 0.4 0.1 0.2 Option model Volatility of interest rates 15 63 50 81 basis points Credit derivative contracts 0.4 0.5 0.5 0.5 Discounted expected cash flows Credit spreads 1 700 4 545 basis points Bond price equivalent 0 100 3 99 points Equity / index contracts 0.6 0.5 1.3 1.4 Option model Equity dividend yields 0 14 0 12 % Volatility of equity stocks, equity and other indices 4 105 4 93 % Equity-to-FX correlation (45) 71 (39) 67 % Equity-to-equity correlation (17) 98 (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 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 4 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. |
Disclosure of sensitivity of fair value measurement to changes in unobservable inputs explanatory | Sensitivity of fair value measurements to changes in unobservable input assumptions 31.12.19 31.12.18 USD million Favorable changes Unfavorable changes Favorable changes Unfavorable changes Traded loans, loans designated at fair value, loan commitments and guarantees 46 (21) 99 (44) Securities financing transactions 11 (11) 17 (11) Auction rate securities 87 (87) 81 (81) Asset-backed securities 35 (40) 27 (23) Equity instruments 140 (80) 155 (94) Interest rate derivative contracts, net 8 (17) 8 (39) Credit derivative contracts, net 31 (35) 33 (37) Foreign exchange derivative contracts, net 12 (8) 10 (5) Equity / index derivative contracts, net 183 (197) 213 (225) Other 47 (51) 19 (19) Total 600 (547) 661 (578) |
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 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 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 2019 2 Financial assets at fair value held for trading 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 (0.2) 0.0 1.2 (5.7) 4.4 0.0 0.6 (0.4) 0.0 1.8 of which: Investment fund units 0.6 0.6 (0.1) (0.1) 0.2 (0.3) 0.0 0.0 0.1 (0.1) 0.0 0.4 0.0 0.0 0.0 (0.4) 0.0 0.0 0.2 (0.2) 0.0 0.0 Corporate and municipal bonds 0.6 0.6 0.0 0.0 0.6 (0.9) 0.0 0.0 0.5 0.0 0.0 0.7 0.0 0.0 0.6 (0.6) 0.0 0.0 0.1 (0.2) 0.0 0.5 Loans 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 (0.1) 0.0 0.2 (4.4) 4.4 0.0 0.1 0.0 0.0 0.8 Other 0.4 0.4 (0.1) (0.1) 0.4 (0.4) 0.0 0.0 0.0 0.0 0.0 0.2 0.0 (0.1) 0.3 (0.3) 0.0 0.0 0.2 0.0 0.0 0.4 Derivative financial instruments – assets 1.6 1.6 0.0 0.0 0.0 0.0 1.0 (1.5) 0.5 (0.1) 0.0 1.4 (0.3) 0.0 0.0 0.0 1.0 (0.8) 0.2 (0.3) 0.0 1.3 of which: Interest rate contracts 0.1 0.1 0.1 0.1 0.0 0.0 0.0 (0.1) 0.3 0.0 0.0 0.4 (0.1) 0.0 0.0 0.0 0.1 0.0 0.0 (0.2) 0.0 0.3 Equity / index contracts 0.7 0.7 0.0 0.0 0.0 0.0 0.8 (1.0) 0.1 (0.1) 0.0 0.5 (0.1) 0.1 0.0 0.0 0.6 (0.5) 0.1 (0.1) 0.0 0.6 Credit derivative contracts 0.6 0.6 0.0 0.0 0.0 0.0 0.3 (0.4) 0.0 0.0 0.0 0.5 (0.1) (0.1) 0.0 0.0 0.2 (0.2) 0.1 (0.1) 0.0 0.4 Other 0.2 0.2 (0.1) (0.1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Financial assets at fair value not held for trading 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 0.0 0.0 1.2 (0.8) 0.0 0.0 0.3 (1.2) 0.0 4.0 of which: Loans 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 0.0 0.0 0.7 (0.2) 0.0 0.0 0.3 (1.2) 0.0 1.2 Auction rate securities 1.9 1.9 0.1 0.1 0.0 (0.4) 0.0 0.0 0.0 0.0 0.1 1.7 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.0 0.0 1.5 Equity instruments 0.4 0.4 0.1 0.1 0.2 (0.2) 0.0 0.0 0.0 0.0 0.0 0.5 0.0 0.0 0.1 (0.2) 0.0 0.0 0.0 0.0 0.0 0.5 Other 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 0.0 0.0 0.5 (0.2) 0.0 0.0 0.0 0.0 0.0 0.7 Financial assets measured at fair value through other comprehensive income 0.5 (0.5) Derivative financial instruments – liabilities 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 0.0 0.0 0.0 0.0 0.8 (1.0) 0.3 (0.3) 0.0 2.0 of which: Equity / index contracts 2.0 2.0 (0.3) (0.2) 0.0 0.0 1.2 (1.2) 0.3 (0.5) 0.0 1.4 0.3 0.2 0.0 0.0 0.6 (0.9) 0.2 (0.2) 0.0 1.3 Credit derivative contracts 0.6 0.6 0.0 0.0 0.0 0.0 0.1 (0.2) 0.1 0.0 0.0 0.5 (0.1) (0.1) 0.0 0.0 0.2 (0.1) 0.1 (0.1) 0.0 0.5 Other 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 (0.1) 0.0 0.0 0.0 0.1 0.0 0.0 (0.1) 0.0 0.2 Debt issued designated at fair value 11.2 11.2 0.5 0.0 0.0 0.0 5.8 (4.3) 2.2 (4.3) (0.2) 11.0 1.1 0.7 0.0 0.0 7.2 (7.3) 1.0 (3.1) 0.0 9.9 Other financial liabilities designated at fair value 2.0 2.0 0.0 0.0 0.0 0.0 1.1 (2.0) 0.0 0.0 0.0 1.0 0.2 0.1 0.0 0.0 0.3 (0.8) 0.1 0.0 0.0 0.8 1 Net gains / losses included in comprehensive income are comprised of Net interest income, Other net income from financial instruments measured at fair value through profit or loss and Other income. 2 Total Level 3 assets as of 31 December 2019 were USD 7.2 billion (31 December 2018: USD 7.8 billion). Total Level 3 liabilities as of 31 December 2019 were USD 12.8 billion (31 December 2018: USD 14.3 billion). |
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 31.12.19 31.12.18 31.12.17 Recognized during the year: Realized gain / (loss) 8 (3) 22 Unrealized gain / (loss) (408) 519 (337) Total gain / (loss), before tax (400) 517 (315) As of USD million 31.12.19 31.12.18 31.12.17 Recognized on the balance sheet as of the end of the year: Unrealized life-to-date gain / (loss) (88) 320 (200) |
Valuation adjustments on financial instruments | Valuation adjustments on financial instruments As of Life-to-date gain / (loss), USD million 31.12.19 31.12.18 Credit valuation adjustments 1 (48) (90) Funding valuation adjustments (50) (85) Debit valuation adjustments 1 1 Other valuation adjustments (566) (716) of which: liquidity (300) (388) of which: model uncertainty (266) (327) 1 Amounts do not include reserves against defaulted counterparties. |
Disclosure Of Maximum Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.19 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 4 121.8 3.3 107.4 11.1 Brokerage receivables 18.0 17.8 0.2 Financial assets at fair value not held for trading – debt instruments 5 55.0 0.1 16.3 0.1 38.6 Total financial assets measured at fair value 216.7 0.1 37.4 0.0 0.1 107.4 0.0 0.0 71.7 Guarantees 6 1.0 0.3 0.7 Loan commitments 6 6.3 3.0 0.1 0.9 2.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 20.3 20.3 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 27.6 0.0 20.3 0.0 3.0 0.0 0.1 1.2 3.0 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 5 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 6 1.6 0.2 1.4 Loan commitments 6 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 1 Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities. 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 Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 6 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 1 31.12.19 31.12.18 Carrying amount Fair value Carrying amount Fair value USD billion Total Carrying amount approximates fair value 2 Level 1 Level 2 Level 3 Total Total Carrying amount approximates fair value 2 Level 1 Level 2 Level 3 Total Assets 3 Cash and balances at central banks 107.1 107.0 0.1 0.0 0.0 107.1 108.4 108.3 0.1 0.0 0.0 108.4 Loans and advances to banks 12.4 11.8 0.0 0.5 0.2 12.4 16.9 16.2 0.0 0.6 0.0 16.9 Receivables from securities financing transactions 84.2 74.0 0.0 8.6 1.6 84.2 95.3 85.0 0.0 6.9 3.4 95.4 Cash collateral receivables on derivative instruments 23.3 23.3 0.0 0.0 0.0 23.3 23.6 23.6 0.0 0.0 0.0 23.6 Loans and advances to customers 326.8 151.6 0.0 25.4 152.2 329.1 320.4 153.4 0.0 18.0 149.5 320.9 Other financial assets measured at amortized cost 23.0 5.7 8.4 6.4 2.8 23.2 22.6 5.9 8.4 5.2 2.9 22.4 Liabilities Amounts due to banks 6.6 5.6 0.0 0.9 0.0 6.6 11.0 8.8 0.0 1.9 0.2 11.0 Payables from securities financing transactions 7.8 7.5 0.0 0.3 0.0 7.8 10.3 10.0 0.0 0.3 0.0 10.3 Cash collateral payables on derivative instruments 31.4 31.4 0.0 0.0 0.0 31.4 28.9 28.9 0.0 0.0 0.0 28.9 Customer deposits 448.3 439.1 0.0 9.3 0.0 448.4 419.8 409.5 0.0 10.3 0.1 419.9 Debt issued measured at amortized cost 110.5 8.7 0.0 104.9 0.0 113.6 132.3 2.8 0.0 130.7 1.4 135.0 Other financial liabilities measured at amortized cost 4 5.8 5.7 0.0 0.0 0.0 5.7 6.9 6.8 0.0 0.0 0.1 6.9 1 In line with IFRS 7 Financial Instruments: Disclosures, effective 2019, UBS no longer discloses a fair value hierarchy level for financial instruments where the carrying amount approximates fair value. Prior periods have been restated for this change. 2 Includes certain financial instruments where the carrying amount is a reasonable approximation of the fair value due to the instruments’ short-term nature (instruments that are receivable or payable on demand, or with a remaining maturity (excluding the effects of callable features) of three months or less). 3 As of 31 December 2019, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 140 billion of Loans and advances to customers and USD 16 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. 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 were expected to be recovered or settled after 12 months. 4 Excludes lease liabilities. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Financial instruments not measured at fair value 1 31.12.19 31.12.18 Carrying amount Fair value Carrying amount Fair value USD billion Total Carrying amount approximates fair value 2 Level 1 Level 2 Level 3 Total Total Carrying amount approximates fair value 2 Level 1 Level 2 Level 3 Total Assets 3 Cash and balances at central banks 107.1 107.0 0.1 0.0 0.0 107.1 108.4 108.3 0.1 0.0 0.0 108.4 Loans and advances to banks 12.4 11.8 0.0 0.5 0.2 12.4 16.9 16.2 0.0 0.6 0.0 16.9 Receivables from securities financing transactions 84.2 74.0 0.0 8.6 1.6 84.2 95.3 85.0 0.0 6.9 3.4 95.4 Cash collateral receivables on derivative instruments 23.3 23.3 0.0 0.0 0.0 23.3 23.6 23.6 0.0 0.0 0.0 23.6 Loans and advances to customers 326.8 151.6 0.0 25.4 152.2 329.1 320.4 153.4 0.0 18.0 149.5 320.9 Other financial assets measured at amortized cost 23.0 5.7 8.4 6.4 2.8 23.2 22.6 5.9 8.4 5.2 2.9 22.4 Liabilities Amounts due to banks 6.6 5.6 0.0 0.9 0.0 6.6 11.0 8.8 0.0 1.9 0.2 11.0 Payables from securities financing transactions 7.8 7.5 0.0 0.3 0.0 7.8 10.3 10.0 0.0 0.3 0.0 10.3 Cash collateral payables on derivative instruments 31.4 31.4 0.0 0.0 0.0 31.4 28.9 28.9 0.0 0.0 0.0 28.9 Customer deposits 448.3 439.1 0.0 9.3 0.0 448.4 419.8 409.5 0.0 10.3 0.1 419.9 Debt issued measured at amortized cost 110.5 8.7 0.0 104.9 0.0 113.6 132.3 2.8 0.0 130.7 1.4 135.0 Other financial liabilities measured at amortized cost 4 5.8 5.7 0.0 0.0 0.0 5.7 6.9 6.8 0.0 0.0 0.1 6.9 1 In line with IFRS 7 Financial Instruments: Disclosures, effective 2019, UBS no longer discloses a fair value hierarchy level for financial instruments where the carrying amount approximates fair value. Prior periods have been restated for this change. 2 Includes certain financial instruments where the carrying amount is a reasonable approximation of the fair value due to the instruments’ short-term nature (instruments that are receivable or payable on demand, or with a remaining maturity (excluding the effects of callable features) of three months or less). 3 As of 31 December 2019, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 140 billion of Loans and advances to customers and USD 16 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. 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 were expected to be recovered or settled after 12 months. 4 Excludes lease liabilities. |
UBS AG | |
Fair ValueMeasurement [Line Items] | |
Disclosure Of Maximum Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.19 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 4 121.8 3.3 107.4 11.1 Brokerage receivables 18.0 0.0 17.8 0.2 Financial assets at fair value not held for trading – debt instruments 5 55.0 0.1 16.3 0.1 38.6 Total financial assets measured at fair value 216.8 0.1 37.4 0.0 0.1 107.4 0.0 0.0 71.9 Guarantees 6 1.0 0.3 0.7 Loan commitments 6 6.3 3.0 0.1 0.9 2.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 20.3 20.3 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 27.6 0.0 20.3 0.0 3.0 0.0 0.1 1.2 3.0 ##SL ##SL ##SL ##SL ##SL ##SL ##SL ##SL ##SL ##SL 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 5 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 6 1.6 0.2 1.4 Loan commitments 6 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 1 Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities. 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 Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 6 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 31.12.19 31.12.18 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 113,635 12,248 1,812 127,695 88,455 14,096 1,962 104,513 of which: Equity instruments 96,162 400 226 96,788 72,270 455 46 72,771 Government bills / bonds 9,630 1,770 64 11,464 9,554 1,607 0 11,161 Investment fund units 7,088 1,729 50 8,867 6,074 3,200 442 9,716 Corporate and municipal bonds 755 6,796 542 8,093 558 5,699 651 6,908 Loans 0 1,180 791 1,971 0 2,886 680 3,566 Asset-backed securities 0 372 140 512 0 248 144 392 Derivative financial instruments 356 120,224 1,264 121,843 753 124,035 1,424 126,212 of which: Foreign exchange contracts 240 52,228 8 52,476 311 53,151 30 53,492 Interest rate contracts 6 42,288 263 42,558 0 36,658 418 37,076 Equity / index contracts 7 22,220 597 22,825 3 30,905 496 31,404 Credit derivative contracts 0 1,612 394 2,007 0 1,444 476 1,920 Commodity contracts 0 1,820 0 1,821 0 1,768 2 1,769 Brokerage receivables 0 18,007 0 18,007 0 16,840 0 16,840 Financial assets at fair value not held for trading 40,608 39,065 3,962 83,636 40,204 37,770 4,413 82,387 of which: Financial assets for unit-linked investment contracts 2 27,568 118 0 27,686 21,440 5 0 21,446 Corporate and municipal bonds 653 18,732 0 19,385 781 16,455 0 17,236 Government bills / bonds 12,089 3,700 0 15,790 17,687 4,806 0 22,493 Loans 0 10,206 1,231 11,438 0 6,380 1,752 8,132 Securities financing transactions 0 6,148 147 6,294 0 9,899 39 9,937 Auction rate securities 0 0 1,536 1,536 0 0 1,664 1,664 Investment fund units 194 140 98 432 173 125 109 407 Equity instruments 103 4 451 559 123 62 517 702 Other 0 16 499 515 0 38 331 369 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 1,906 4,439 0 6,345 2,319 4,347 0 6,667 of which: Asset-backed securities 0 3,955 0 3,955 0 3,931 0 3,931 Government bills / bonds 1,859 16 0 1,875 2,171 69 0 2,239 Corporate and municipal bonds 47 468 0 515 149 348 0 497 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,597 0 0 4,597 4,298 0 0 4,298 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 3 0 0 199 199 0 82 0 82 Total assets measured at fair value 161,102 193,983 7,237 362,322 136,029 197,170 7,800 340,999 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.19 31.12.18 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 25,791 4,726 75 30,591 24,413 4,468 69 28,949 of which: Equity instruments 22,526 149 59 22,734 21,313 537 42 21,892 Corporate and municipal bonds 40 3,606 16 3,661 126 3,377 27 3,530 Government bills / bonds 2,820 646 0 3,466 2,423 416 0 2,839 Investment fund units 404 294 0 698 551 137 0 689 Derivative financial instruments 385 118,498 1,996 120,880 580 122,933 2,210 125,723 of which: Foreign exchange contracts 248 53,705 60 54,013 322 52,964 86 53,372 Interest rate contracts 7 36,434 130 36,571 7 32,511 226 32,743 Equity / index contracts 3 24,171 1,293 25,468 1 33,669 1,371 35,041 Credit derivative contracts 0 2,448 512 2,960 0 2,203 519 2,722 Commodity contracts 0 1,707 0 1,707 0 1,487 0 1,487 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 0 37,233 0 37,233 0 38,420 0 38,420 Debt issued designated at fair value 0 56,943 9,649 66,592 0 46,074 10,957 57,031 Other financial liabilities designated at fair value 0 35,119 1,039 36,157 0 32,569 1,025 33,594 of which: Financial liabilities related to unit-linked investment contracts 0 28,145 0 28,145 0 21,679 0 21,679 Securities financing transactions 0 5,742 0 5,742 0 9,461 0 9,461 Over-the-counter debt instruments 0 1,231 791 2,022 0 1,427 1,023 2,450 Total liabilities measured at fair value 26,176 252,518 12,759 291,452 24,992 244,465 14,260 283,717 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 Fair value hierarchy information for Financial assets for unit-linked investment contracts in the comparative period has been restated, resulting in an increase in Level 1 assets of USD 4,746 million as of 31 December 2018, with a corresponding decrease in Level 2 assets. 3 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) 31.12.19 31.12.18 USD billion 31.12.19 31.12.18 31.12.19 31.12.18 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 Corporate and municipal bonds 0.5 0.7 0.0 0.0 Relative value to market comparable Bond price equivalent 0 143 101 0 134 89 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.4 2.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 99 0 100 99 points Discounted expected cash flows Credit spread 225 530 301 513 basis points Market comparable and securitization model Discount margin 0 14 2 1 14 2 % Auction rate securities 1.5 1.7 Relative value to market comparable Bond price equivalent 79 98 88 79 99 89 points Investment fund units 3 0.1 0.6 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.7 0.6 0.1 0.0 Relative value to market comparable Price Debt issued designated at fair value 4 9.9 11.0 Other financial liabilities designated at fair value 4 0.8 1.0 Derivative financial instruments Interest rate contracts 0.3 0.4 0.1 0.2 Option model Volatility of interest rates 15 63 50 81 basis points Credit derivative contracts 0.4 0.5 0.5 0.5 Discounted expected cash flows Credit spreads 1 700 4 545 basis points Bond price equivalent 0 100 3 99 points Equity / index contracts 0.6 0.5 1.3 1.4 Option model Equity dividend yields 0 14 0 12 % Volatility of equity stocks, equity and other indices 4 105 4 93 % Equity-to-FX correlation (45) 71 (39) 67 % Equity-to-equity correlation (17) 98 (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 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 4 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. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Determination of fair values from quoted market prices or valuation techniques 1 31.12.19 31.12.18 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 113,635 12,248 1,812 127,695 88,455 14,096 1,962 104,513 of which: Equity instruments 96,162 400 226 96,788 72,270 455 46 72,771 Government bills / bonds 9,630 1,770 64 11,464 9,554 1,607 0 11,161 Investment fund units 7,088 1,729 50 8,867 6,074 3,200 442 9,716 Corporate and municipal bonds 755 6,796 542 8,093 558 5,699 651 6,908 Loans 0 1,180 791 1,971 0 2,886 680 3,566 Asset-backed securities 0 372 140 512 0 248 144 392 Derivative financial instruments 356 120,224 1,264 121,843 753 124,035 1,424 126,212 of which: Foreign exchange contracts 240 52,228 8 52,476 311 53,151 30 53,492 Interest rate contracts 6 42,288 263 42,558 0 36,658 418 37,076 Equity / index contracts 7 22,220 597 22,825 3 30,905 496 31,404 Credit derivative contracts 0 1,612 394 2,007 0 1,444 476 1,920 Commodity contracts 0 1,820 0 1,821 0 1,768 2 1,769 Brokerage receivables 0 18,007 0 18,007 0 16,840 0 16,840 Financial assets at fair value not held for trading 40,608 39,065 3,962 83,636 40,204 37,770 4,413 82,387 of which: Financial assets for unit-linked investment contracts 2 27,568 118 0 27,686 21,440 5 0 21,446 Corporate and municipal bonds 653 18,732 0 19,385 781 16,455 0 17,236 Government bills / bonds 12,089 3,700 0 15,790 17,687 4,806 0 22,493 Loans 0 10,206 1,231 11,438 0 6,380 1,752 8,132 Securities financing transactions 0 6,148 147 6,294 0 9,899 39 9,937 Auction rate securities 0 0 1,536 1,536 0 0 1,664 1,664 Investment fund units 194 140 98 432 173 125 109 407 Equity instruments 103 4 451 559 123 62 517 702 Other 0 16 499 515 0 38 331 369 Financial assets measured at fair value through other comprehensive income on a recurring basis Financial assets measured at fair value through other comprehensive income 1,906 4,439 0 6,345 2,319 4,347 0 6,667 of which: Asset-backed securities 0 3,955 0 3,955 0 3,931 0 3,931 Government bills / bonds 1,859 16 0 1,875 2,171 69 0 2,239 Corporate and municipal bonds 47 468 0 515 149 348 0 497 Non-financial assets measured at fair value on a recurring basis Precious metals and other physical commodities 4,597 0 0 4,597 4,298 0 0 4,298 Non-financial assets measured at fair value on a non-recurring basis Other non-financial assets 3 0 0 199 199 0 82 0 82 Total assets measured at fair value 161,102 193,983 7,237 362,322 136,029 197,170 7,800 340,999 Determination of fair values from quoted market prices or valuation techniques (continued) 1 31.12.19 31.12.18 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 25,791 4,726 75 30,591 24,413 4,468 69 28,949 of which: Equity instruments 22,526 149 59 22,734 21,313 537 42 21,892 Corporate and municipal bonds 40 3,606 16 3,661 126 3,377 27 3,530 Government bills / bonds 2,820 646 0 3,466 2,423 416 0 2,839 Investment fund units 404 294 0 698 551 137 0 689 Derivative financial instruments 385 118,498 1,996 120,880 580 122,933 2,210 125,723 of which: Foreign exchange contracts 248 53,705 60 54,013 322 52,964 86 53,372 Interest rate contracts 7 36,434 130 36,571 7 32,511 226 32,743 Equity / index contracts 3 24,171 1,293 25,468 1 33,669 1,371 35,041 Credit derivative contracts 0 2,448 512 2,960 0 2,203 519 2,722 Commodity contracts 0 1,707 0 1,707 0 1,487 0 1,487 Financial liabilities designated at fair value on a recurring basis Brokerage payables designated at fair value 0 37,233 0 37,233 0 38,420 0 38,420 Debt issued designated at fair value 0 56,943 9,649 66,592 0 46,074 10,957 57,031 Other financial liabilities designated at fair value 0 35,119 1,039 36,157 0 32,569 1,025 33,594 of which: Financial liabilities related to unit-linked investment contracts 0 28,145 0 28,145 0 21,679 0 21,679 Securities financing transactions 0 5,742 0 5,742 0 9,461 0 9,461 Over-the-counter debt instruments 0 1,231 791 2,022 0 1,427 1,023 2,450 Total liabilities measured at fair value 26,176 252,518 12,759 291,452 24,992 244,465 14,260 283,717 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 Fair value hierarchy information for Financial assets for unit-linked investment contracts in the comparative period has been restated, resulting in an increase in Level 1 assets of USD 4,746 million as of 31 December 2018, with a corresponding decrease in Level 2 assets. 3 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) 31.12.19 31.12.18 USD billion 31.12.19 31.12.18 31.12.19 31.12.18 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 Corporate and municipal bonds 0.5 0.7 0.0 0.0 Relative value to market comparable Bond price equivalent 0 143 101 0 134 89 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.4 2.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 99 0 100 99 points Discounted expected cash flows Credit spread 225 530 301 513 basis points Market comparable and securitization model Discount margin 0 14 2 1 14 2 % Auction rate securities 1.5 1.7 Relative value to market comparable Bond price equivalent 79 98 88 79 99 89 points Investment fund units 3 0.1 0.6 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.7 0.6 0.1 0.0 Relative value to market comparable Price Debt issued designated at fair value 4 9.9 11.0 Other financial liabilities designated at fair value 4 0.8 1.0 Derivative financial instruments Interest rate contracts 0.3 0.4 0.1 0.2 Option model Volatility of interest rates 15 63 50 81 basis points Credit derivative contracts 0.4 0.5 0.5 0.5 Discounted expected cash flows Credit spreads 1 700 4 545 basis points Bond price equivalent 0 100 3 99 points Equity / index contracts 0.6 0.5 1.3 1.4 Option model Equity dividend yields 0 14 0 12 % Volatility of equity stocks, equity and other indices 4 105 4 93 % Equity-to-FX correlation (45) 71 (39) 67 % Equity-to-equity correlation (17) 98 (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 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 4 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. |
Disclosure Of Deferred Day-One Profit Or Loss Explanatory | Deferred day-1 profit or loss reserves USD million 2019 2018 2017 Reserve balance at the beginning of the year 255 338 365 Profit / (loss) deferred on new transactions 171 341 247 (Profit) / loss recognized in the income statement (278) (417) (279) Foreign currency translation (2) (6) 6 Reserve balance at the end of the year 146 255 338 |
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) 31.12.19 31.12.18 USD billion 31.12.19 31.12.18 31.12.19 31.12.18 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 Corporate and municipal bonds 0.5 0.7 0.0 0.0 Relative value to market comparable Bond price equivalent 0 143 101 0 134 89 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.4 2.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 99 0 100 99 points Discounted expected cash flows Credit spread 225 530 301 513 basis points Market comparable and securitization model Discount margin 0 14 2 1 14 2 % Auction rate securities 1.5 1.7 Relative value to market comparable Bond price equivalent 79 98 88 79 99 89 points Investment fund units 3 0.1 0.6 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.7 0.6 0.1 0.0 Relative value to market comparable Price Debt issued designated at fair value 4 9.9 11.0 Other financial liabilities designated at fair value 4 0.8 1.0 Derivative financial instruments Interest rate contracts 0.3 0.4 0.1 0.2 Option model Volatility of interest rates 15 63 50 81 basis points Credit derivative contracts 0.4 0.5 0.5 0.5 Discounted expected cash flows Credit spreads 1 700 4 545 basis points Bond price equivalent 0 100 3 99 points Equity / index contracts 0.6 0.5 1.3 1.4 Option model Equity dividend yields 0 14 0 12 % Volatility of equity stocks, equity and other indices 4 105 4 93 % Equity-to-FX correlation (45) 71 (39) 67 % Equity-to-equity correlation (17) 98 (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 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 4 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. |
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) 31.12.19 31.12.18 USD billion 31.12.19 31.12.18 31.12.19 31.12.18 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 Corporate and municipal bonds 0.5 0.7 0.0 0.0 Relative value to market comparable Bond price equivalent 0 143 101 0 134 89 points Traded loans, loans designated at fair value, loan commitments and guarantees 2.4 2.7 0.0 0.0 Relative value to market comparable Loan price equivalent 0 101 99 0 100 99 points Discounted expected cash flows Credit spread 225 530 301 513 basis points Market comparable and securitization model Discount margin 0 14 2 1 14 2 % Auction rate securities 1.5 1.7 Relative value to market comparable Bond price equivalent 79 98 88 79 99 89 points Investment fund units 3 0.1 0.6 0.0 0.0 Relative value to market comparable Net asset value Equity instruments 3 0.7 0.6 0.1 0.0 Relative value to market comparable Price Debt issued designated at fair value 4 9.9 11.0 Other financial liabilities designated at fair value 4 0.8 1.0 Derivative financial instruments Interest rate contracts 0.3 0.4 0.1 0.2 Option model Volatility of interest rates 15 63 50 81 basis points Credit derivative contracts 0.4 0.5 0.5 0.5 Discounted expected cash flows Credit spreads 1 700 4 545 basis points Bond price equivalent 0 100 3 99 points Equity / index contracts 0.6 0.5 1.3 1.4 Option model Equity dividend yields 0 14 0 12 % Volatility of equity stocks, equity and other indices 4 105 4 93 % Equity-to-FX correlation (45) 71 (39) 67 % Equity-to-equity correlation (17) 98 (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 The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. 4 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. |
Disclosure of sensitivity of fair value measurement to changes in unobservable inputs explanatory | Sensitivity of fair value measurements to changes in unobservable input assumptions 31.12.19 31.12.18 USD million Favorable changes Unfavorable changes Favorable changes Unfavorable changes Traded loans, loans designated at fair value, loan commitments and guarantees 46 (21) 99 (44) Securities financing transactions 11 (11) 17 (11) Auction rate securities 87 (87) 81 (81) Asset-backed securities 35 (40) 27 (23) Equity instruments 140 (80) 155 (94) Interest rate derivative contracts, net 8 (17) 8 (39) Credit derivative contracts, net 31 (35) 33 (37) Foreign exchange derivative contracts, net 12 (8) 10 (5) Equity / index derivative contracts, net 183 (197) 213 (225) Other 47 (51) 19 (19) Total 600 (547) 661 (578) |
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 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 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 2019 2 Financial assets at fair value held for trading 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 (0.2) 0.0 1.2 (5.7) 4.4 0.0 0.6 (0.4) 0.0 1.8 of which: Investment fund units 0.6 0.6 (0.1) (0.1) 0.2 (0.3) 0.0 0.0 0.1 (0.1) 0.0 0.4 0.0 0.0 0.0 (0.4) 0.0 0.0 0.2 (0.2) 0.0 0.0 Corporate and municipal bonds 0.6 0.6 0.0 0.0 0.6 (0.9) 0.0 0.0 0.5 0.0 0.0 0.7 0.0 0.0 0.6 (0.6) 0.0 0.0 0.1 (0.2) 0.0 0.5 Loans 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 (0.1) 0.0 0.2 (4.4) 4.4 0.0 0.1 0.0 0.0 0.8 Other 0.4 0.4 (0.1) (0.1) 0.4 (0.4) 0.0 0.0 0.0 0.0 0.0 0.2 0.0 (0.1) 0.3 (0.3) 0.0 0.0 0.2 0.0 0.0 0.4 Derivative financial instruments – assets 1.6 1.6 0.0 0.0 0.0 0.0 1.0 (1.5) 0.5 (0.1) 0.0 1.4 (0.3) 0.0 0.0 0.0 1.0 (0.8) 0.2 (0.3) 0.0 1.3 of which: Interest rate contracts 0.1 0.1 0.1 0.1 0.0 0.0 0.0 (0.1) 0.3 0.0 0.0 0.4 (0.1) 0.0 0.0 0.0 0.1 0.0 0.0 (0.2) 0.0 0.3 Equity / index contracts 0.7 0.7 0.0 0.0 0.0 0.0 0.8 (1.0) 0.1 (0.1) 0.0 0.5 (0.1) 0.1 0.0 0.0 0.6 (0.5) 0.1 (0.1) 0.0 0.6 Credit derivative contracts 0.6 0.6 0.0 0.0 0.0 0.0 0.3 (0.4) 0.0 0.0 0.0 0.5 (0.1) (0.1) 0.0 0.0 0.2 (0.2) 0.1 (0.1) 0.0 0.4 Other 0.2 0.2 (0.1) (0.1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Financial assets at fair value not held for trading 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 0.0 0.0 1.2 (0.8) 0.0 0.0 0.3 (1.2) 0.0 4.0 of which: Loans 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 0.0 0.0 0.7 (0.2) 0.0 0.0 0.3 (1.2) 0.0 1.2 Auction rate securities 1.9 1.9 0.1 0.1 0.0 (0.4) 0.0 0.0 0.0 0.0 0.1 1.7 0.0 0.0 0.0 (0.1) 0.0 0.0 0.0 0.0 0.0 1.5 Equity instruments 0.4 0.4 0.1 0.1 0.2 (0.2) 0.0 0.0 0.0 0.0 0.0 0.5 0.0 0.0 0.1 (0.2) 0.0 0.0 0.0 0.0 0.0 0.5 Other 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 0.0 0.0 0.5 (0.2) 0.0 0.0 0.0 0.0 0.0 0.7 Financial assets measured at fair value through other comprehensive income 0.5 (0.5) Derivative financial instruments – liabilities 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 0.0 0.0 0.0 0.0 0.8 (1.0) 0.3 (0.3) 0.0 2.0 of which: Equity / index contracts 2.0 2.0 (0.3) (0.2) 0.0 0.0 1.2 (1.2) 0.3 (0.5) 0.0 1.4 0.3 0.2 0.0 0.0 0.6 (0.9) 0.2 (0.2) 0.0 1.3 Credit derivative contracts 0.6 0.6 0.0 0.0 0.0 0.0 0.1 (0.2) 0.1 0.0 0.0 0.5 (0.1) (0.1) 0.0 0.0 0.2 (0.1) 0.1 (0.1) 0.0 0.5 Other 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 (0.1) 0.0 0.0 0.0 0.1 0.0 0.0 (0.1) 0.0 0.2 Debt issued designated at fair value 11.2 11.2 0.5 0.0 0.0 0.0 5.8 (4.3) 2.2 (4.3) (0.2) 11.0 1.1 0.7 0.0 0.0 7.2 (7.3) 1.0 (3.1) 0.0 9.9 Other financial liabilities designated at fair value 2.0 2.0 0.0 0.0 0.0 0.0 1.1 (2.0) 0.0 0.0 0.0 1.0 0.2 0.1 0.0 0.0 0.3 (0.8) 0.1 0.0 0.0 0.8 1 Net gains / losses included in comprehensive income are comprised of Net interest income, Other net income from financial instruments measured at fair value through profit or loss and Other income. 2 Total Level 3 assets as of 31 December 2019 were USD 7.2 billion (31 December 2018: USD 7.8 billion). Total Level 3 liabilities as of 31 December 2019 were USD 12.8 billion (31 December 2018: USD 14.3 billion). |
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 31.12.19 31.12.18 31.12.17 Recognized during the year: Realized gain / (loss) 8 (3) 22 Unrealized gain / (loss) (408) 519 (337) Total gain / (loss), before tax (400) 517 (315) As of USD million 31.12.19 31.12.18 31.12.17 Recognized on the balance sheet as of the end of the year: Unrealized life-to-date gain / (loss) (88) 320 (200) |
Valuation adjustments on financial instruments | Valuation adjustments on financial instruments As of Life-to-date gain / (loss), USD million 31.12.19 31.12.18 Credit valuation adjustments 1 (48) (90) Funding valuation adjustments (50) (85) Debit valuation adjustments 1 1 Other valuation adjustments (566) (716) of which: liquidity (300) (388) of which: model uncertainty (266) (327) 1 Amounts do not include reserves against defaulted counterparties. |
Disclosure Of Maximum Credit Risk Exposure Explanatory | Maximum exposure to credit risk 31.12.19 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 4 121.8 3.3 107.4 11.1 Brokerage receivables 18.0 0.0 17.8 0.2 Financial assets at fair value not held for trading – debt instruments 5 55.0 0.1 16.3 0.1 38.6 Total financial assets measured at fair value 216.8 0.1 37.4 0.0 0.1 107.4 0.0 0.0 71.9 Guarantees 6 1.0 0.3 0.7 Loan commitments 6 6.3 3.0 0.1 0.9 2.3 Forward starting transactions, reverse repurchase and securities borrowing agreements 20.3 20.3 0.0 Total maximum exposure to credit risk not reflected on the balance sheet 27.6 0.0 20.3 0.0 3.0 0.0 0.1 1.2 3.0 ##SL ##SL ##SL ##SL ##SL ##SL ##SL ##SL ##SL ##SL 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 5 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 6 1.6 0.2 1.4 Loan commitments 6 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 1 Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities. 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 Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. 6 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 1 31.12.19 31.12.18 Carrying amount Fair value Carrying amount Fair value USD billion Total Carrying amount approximates fair value 2 Level 1 Level 2 Level 3 Total Total Carrying amount approximates fair value 2 Level 1 Level 2 Level 3 Total Assets 3 Cash and balances at central banks 107.1 107.0 0.1 0.0 0.0 107.1 108.4 108.3 0.1 0.0 0.0 108.4 Loans and advances to banks 12.4 11.7 0.0 0.5 0.2 12.4 16.6 16.0 0.0 0.6 0.0 16.6 Receivables from securities financing transactions 84.2 74.0 0.0 8.6 1.6 84.2 95.3 85.0 0.0 6.9 3.4 95.4 Cash collateral receivables on derivative instruments 23.3 23.3 0.0 0.0 0.0 23.3 23.6 23.6 0.0 0.0 0.0 23.6 Loans and advances to customers 328.0 152.5 0.0 25.7 152.2 330.3 321.5 153.8 0.0 18.6 149.5 322.0 Other financial assets measured at amortized cost 23.0 5.8 8.4 6.4 2.8 23.3 22.6 5.9 8.4 4.8 3.3 22.5 Liabilities Amounts due to banks 6.6 5.6 0.0 0.9 0.0 6.6 11.0 8.8 0.0 1.9 0.2 11.0 Payables from securities financing transactions 7.8 7.5 0.0 0.3 0.0 7.8 10.3 10.0 0.0 0.3 0.0 10.3 Cash collateral payables on derivative instruments 31.4 31.4 0.0 0.0 0.0 31.4 28.9 28.9 0.0 0.0 0.0 28.9 Customer deposits 450.6 440.5 0.0 10.2 0.0 450.7 422.0 410.6 0.0 11.3 0.1 422.0 Funding from UBS Group AG and its subsidiaries 47.9 0.0 0.0 49.6 0.0 49.6 41.2 0.0 0.0 41.7 0.0 41.7 Debt issued measured at amortized cost 62.8 8.7 0.0 55.5 0.0 64.3 91.2 9.9 0.0 82.1 1.4 93.5 Other financial liabilities measured at amortized cost 4 6.5 6.5 0.0 0.0 0.0 6.5 7.6 7.6 0.0 0.0 0.1 7.6 1 In line with IFRS 7 Financial Instruments: Disclosures, effective 2019, UBS no longer discloses a fair value hierarchy level for financial instruments where the carrying amount approximates fair value. Prior periods have been restated for this change. 2 Includes certain financial instruments where the carrying amount is a reasonable approximation of the fair value due to the instruments’ short-term nature (instruments that are receivable or payable on demand, or with a remaining maturity (excluding the effects of callable features) of three months or less). 3 As of 31 December 2019, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 140 billion of Loans and advances to customers and USD 16 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. 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 were expected to be recovered or settled after 12 months. 4 Excludes lease liabilities. |
Disclosure Of Fair Value Measurement Of Liabilities Explanatory | Financial instruments not measured at fair value 1 31.12.19 31.12.18 Carrying amount Fair value Carrying amount Fair value USD billion Total Carrying amount approximates fair value 2 Level 1 Level 2 Level 3 Total Total Carrying amount approximates fair value 2 Level 1 Level 2 Level 3 Total Assets 3 Cash and balances at central banks 107.1 107.0 0.1 0.0 0.0 107.1 108.4 108.3 0.1 0.0 0.0 108.4 Loans and advances to banks 12.4 11.7 0.0 0.5 0.2 12.4 16.6 16.0 0.0 0.6 0.0 16.6 Receivables from securities financing transactions 84.2 74.0 0.0 8.6 1.6 84.2 95.3 85.0 0.0 6.9 3.4 95.4 Cash collateral receivables on derivative instruments 23.3 23.3 0.0 0.0 0.0 23.3 23.6 23.6 0.0 0.0 0.0 23.6 Loans and advances to customers 328.0 152.5 0.0 25.7 152.2 330.3 321.5 153.8 0.0 18.6 149.5 322.0 Other financial assets measured at amortized cost 23.0 5.8 8.4 6.4 2.8 23.3 22.6 5.9 8.4 4.8 3.3 22.5 Liabilities Amounts due to banks 6.6 5.6 0.0 0.9 0.0 6.6 11.0 8.8 0.0 1.9 0.2 11.0 Payables from securities financing transactions 7.8 7.5 0.0 0.3 0.0 7.8 10.3 10.0 0.0 0.3 0.0 10.3 Cash collateral payables on derivative instruments 31.4 31.4 0.0 0.0 0.0 31.4 28.9 28.9 0.0 0.0 0.0 28.9 Customer deposits 450.6 440.5 0.0 10.2 0.0 450.7 422.0 410.6 0.0 11.3 0.1 422.0 Funding from UBS Group AG and its subsidiaries 47.9 0.0 0.0 49.6 0.0 49.6 41.2 0.0 0.0 41.7 0.0 41.7 Debt issued measured at amortized cost 62.8 8.7 0.0 55.5 0.0 64.3 91.2 9.9 0.0 82.1 1.4 93.5 Other financial liabilities measured at amortized cost 4 6.5 6.5 0.0 0.0 0.0 6.5 7.6 7.6 0.0 0.0 0.1 7.6 1 In line with IFRS 7 Financial Instruments: Disclosures, effective 2019, UBS no longer discloses a fair value hierarchy level for financial instruments where the carrying amount approximates fair value. Prior periods have been restated for this change. 2 Includes certain financial instruments where the carrying amount is a reasonable approximation of the fair value due to the instruments’ short-term nature (instruments that are receivable or payable on demand, or with a remaining maturity (excluding the effects of callable features) of three months or less). 3 As of 31 December 2019, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 140 billion of Loans and advances to customers and USD 16 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. 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 were expected to be recovered or settled after 12 months. 4 Excludes lease liabilities. |
Offsetting financial assets a_2
Offsetting financial assets and financial liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 3 Assets not subject to netting arrangements 4 Total assets As of 31.12.19, USD billion Gross assets before netting Netting with gross liabilities 2 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 83.2 (14.0) 69.2 (1.2) (68.0) 0.0 15.0 15.0 84.2 Derivative financial instruments 120.2 (3.4) 116.8 (89.3) (21.4) 6.1 5.0 11.1 121.8 Cash collateral receivables on derivative instruments 1 26.4 (4.0) 22.4 (13.3) (1.1) 8.0 0.9 8.9 23.3 Financial assets at fair value not held for trading 83.1 (77.5) 5.6 0.0 (5.6) 0.0 78.3 78.3 83.9 of which: reverse repurchase agreements 83.0 (77.5) 5.4 0.0 (5.4) 0.0 0.9 0.9 6.3 Total assets 313.0 (98.9) 214.0 (103.8) (96.1) 14.1 99.3 113.4 313.3 As of 31.12.18, USD billion Receivables from securities financing transactions 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 1 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 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 1 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. 2 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. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. 4 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 3 Liabilities not subject to netting arrangements 4 Total liabilities As of 31.12.19, USD billion Gross liabilities before netting Netting with gross assets 2 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 19.8 (14.0) 5.8 (0.8) (5.0) 0.0 2.0 2.0 7.8 Derivative financial instruments 118.1 (3.4) 114.8 (89.3) (16.8) 8.6 6.1 14.8 120.9 Cash collateral payables on derivative instruments 1 34.2 (4.0) 30.1 (16.5) (1.7) 12.0 1.3 13.3 31.4 Other financial liabilities designated at fair value 83.5 (77.6) 5.9 (0.4) (5.6) 0.0 30.0 30.0 35.9 of which: repurchase agreements 83.1 (77.6) 5.5 (0.4) (5.2) 0.0 0.2 0.2 5.7 Total liabilities 255.6 (98.9) 156.6 (107.0) (29.0) 20.6 39.4 60.0 196.0 As of 31.12.18, USD billion Payables from securities financing transactions 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 1 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 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 1 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. 2 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. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. 4 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 3 Assets not subject to netting arrangements 4 Total assets As of 31.12.19, USD billion Gross assets before netting Netting with gross liabilities 2 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 83.2 (14.0) 69.2 (1.2) (68.0) 0.0 15.0 15.0 84.2 Derivative financial instruments 120.2 (3.4) 116.8 (89.3) (21.4) 6.1 5.0 11.1 121.8 Cash collateral receivables on derivative instruments 1 26.4 (4.0) 22.4 (13.3) (1.1) 8.0 0.9 8.9 23.3 Financial assets at fair value not held for trading 83.1 (77.5) 5.6 0.0 (5.6) 0.0 78.0 78.0 83.6 of which: reverse repurchase agreements 83.0 (77.5) 5.4 0.0 (5.4) 0.0 0.9 0.9 6.3 Total assets 313.0 (98.9) 214.0 (103.8) (96.1) 14.1 99.0 113.1 313.0 As of 31.12.18, USD billion Receivables from securities financing transactions 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 1 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 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 1 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. 2 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. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. 4 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 3 Liabilities not subject to netting arrangements 4 Total liabilities As of 31.12.19, USD billion Gross liabilities before netting Netting with gross assets 2 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 19.8 (14.0) 5.8 (0.8) (5.0) 0.0 2.0 2.0 7.8 Derivative financial instruments 118.1 (3.4) 114.8 (89.3) (16.8) 8.6 6.1 14.8 120.9 Cash collateral payables on derivative instruments 1 34.2 (4.0) 30.1 (16.5) (1.7) 12.0 1.3 13.3 31.4 Other financial liabilities designated at fair value 83.5 (77.6) 5.9 (0.4) (5.6) 0.0 30.2 30.2 36.2 of which: repurchase agreements 83.1 (77.6) 5.5 (0.4) (5.2) 0.0 0.2 0.2 5.7 Total liabilities 255.6 (98.9) 156.6 (107.0) (29.0) 20.6 39.6 60.2 196.2 As of 31.12.18, USD billion Payables from securities financing transactions 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 1 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 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 1 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. 2 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. 3 For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. 4 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, 2019 | |
Notes Disclosure Restricted Financial Assets [Line Items] | |
Disclosure of restricted financial assets [text block] | Restricted financial assets USD million 31.12.19 31.12.18 Financial assets pledged as collateral Financial assets at fair value held for trading 56,415 43,292 of which: assets pledged as collateral that may be sold or repledged by counterparties 41,285 32,121 Loans and advances to customers 1 18,399 18,804 Financial assets at fair value not held for trading 188 0 Debt securities classified as Other financial assets measured at amortized cost 1,212 0 of which: assets pledged as collateral that may be sold or repledged by counterparties 1,212 0 Total financial assets pledged as collateral 2 76,215 62,096 Other restricted financial assets Loans and advances to banks 3,131 5,140 Financial assets at fair value held for trading 242 3,589 Cash collateral receivables on derivative instruments 2,986 3,205 Loans and advances to customers 620 935 Financial assets at fair value not held for trading 29,676 23,514 Financial assets measured at fair value through other comprehensive income 176 171 Other 379 203 Total other restricted financial assets 37,210 36,758 Total financial assets pledged and other restricted financial assets 113,425 98,854 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 6.3 billion for 31 December 2019 (31 December 2018: approximately USD 3.2 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 2019: USD 0.6 billion; 31 December 2018: USD 0.3 billion). |
UBS AG | |
Notes Disclosure Restricted Financial Assets [Line Items] | |
Disclosure of restricted financial assets [text block] | Restricted financial assets USD million 31.12.19 31.12.18 Financial assets pledged as collateral Financial assets at fair value held for trading 56,548 43,292 of which: assets pledged as collateral that may be sold or repledged by counterparties 41,285 32,121 Loans and advances to customers 1 18,399 18,804 Financial assets at fair value not held for trading 188 0 Debt securities classified as Other financial assets measured at amortized cost 1,212 0 of which: assets pledged as collateral that may be sold or repledged by counterparties 1,212 0 Total financial assets pledged as collateral 2 76,347 62,096 Other restricted financial assets Loans and advances to banks 2,353 5,140 Financial assets at fair value held for trading 242 1,054 Cash collateral receivables on derivative instruments 2,986 3,205 Loans and advances to customers 620 935 Financial assets at fair value not held for trading 29,368 23,212 Financial assets measured at fair value through other comprehensive income 176 171 Other 382 203 Total other restricted financial assets 36,126 33,920 Total financial assets pledged and other restricted financial assets 112,474 96,016 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 6.3 billion for 31 December 2019 (31 December 2018: approximately USD 3.2 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 2019: USD 0.6 billion; 31 December 2018: USD 0.3 billion). |
Transferred financial assets _3
Transferred financial assets that are not derecognized in their entirety (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Carrying amount of transferred assets Carrying amount of associated liabilities recognized on balance sheet Carrying amount of transferred assets Carrying amount of associated liabilities recognized on balance sheet Financial assets at fair value held for trading that may be sold or repledged by counterparties 41,285 16,671 32,121 4,674 relating to securities lending and repurchase agreements in exchange for cash received 16,945 16,671 4,726 4,674 relating to securities lending agreements in exchange for securities received 24,082 0 26,234 0 relating to other financial asset transfers 258 0 1,161 0 Financial assets at fair value not held for trading that may be sold or repledged by counterparties 188 187 0 0 Total financial assets transferred 41,473 16,858 32,121 4,674 |
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 31.12.19 31.12.18 Carrying amount of transferred assets Carrying amount of associated liabilities recognized on balance sheet Carrying amount of transferred assets Carrying amount of associated liabilities recognized on balance sheet Financial assets at fair value held for trading that may be sold or repledged by counterparties 41,285 16,671 32,121 4,674 relating to securities lending and repurchase agreements in exchange for cash received 16,945 16,671 4,726 4,674 relating to securities lending agreements in exchange for securities received 24,082 0 26,234 0 relating to other financial asset transfers 258 0 1,161 0 Financial assets at fair value not held for trading that may be sold or repledged by counterparties 188 187 0 0 Total financial assets transferred 41,473 16,858 32,121 4,674 |
Off-balance sheet assets rece_2
Off-balance sheet assets received (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Fair value of assets received that can be sold or repledged 475,726 483,688 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions 1 466,045 473,302 received in unsecured borrowings 9,681 10,385 Thereof sold or repledged 2 350,477 356,745 in connection with financing activities 305,362 315,402 to satisfy commitments under short sale transactions 30,591 28,943 in connection with derivative and other transactions 1 14,524 12,400 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 2019: USD 19.6 billion; 31 December 2018: USD 24.5 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 31.12.19 31.12.18 Fair value of assets received that can be sold or repledged 475,726 483,688 received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions 1 466,045 473,302 received in unsecured borrowings 9,681 10,385 Thereof sold or repledged 2 351,327 356,752 in connection with financing activities 306,212 315,402 to satisfy commitments under short sale transactions 30,591 28,949 in connection with derivative and other transactions 1 14,524 12,400 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 2019: USD 19.6 billion; 31 December 2018: USD 24.5 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, 2019 | |
Disclosure Offsetting Financial Assets And Financial Liabilities [Line Items] | |
Disclosure of maturity analysis for financial liabilities [text block] | Maturity analysis of financial liabilities 31.12.19 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 5.4 0.3 0.4 0.5 0.0 6.6 Payables from securities financing transactions 7.4 0.1 0.3 0.0 7.8 Cash collateral payables on derivative instruments 31.4 31.4 Customer deposits 423.0 16.1 7.3 2.5 0.0 448.9 Debt issued measured at amortized cost 2 4.5 5.3 30.5 46.3 36.0 122.7 Other financial liabilities measured at amortized cost 4.5 0.1 0.5 2.0 2.0 9.0 of which: lease liabilities 0.1 0.1 0.5 2.0 2.0 4.6 Total financial liabilities measured at amortized cost 476.1 22.0 38.9 51.3 38.1 626.4 Financial liabilities at fair value held for trading 3,4 30.6 30.6 Derivative financial instruments 3 120.9 120.9 Brokerage payables designated at fair value 37.2 37.2 Debt issued designated at fair value 5 21.3 17.4 9.5 12.7 7.6 68.5 Other financial liabilities designated at fair value 34.0 0.4 0.5 0.4 0.9 36.1 Total financial liabilities measured at fair value through profit or loss 244.0 17.8 9.9 13.1 8.5 293.3 Total 720.1 39.9 48.8 64.5 46.6 919.8 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 33.1 0.5 0.3 0.0 33.9 Guarantees 7 19.1 19.1 Forward starting transactions Reverse repurchase agreements 7 21.9 0.0 21.9 Securities borrowing agreements 0.0 Total 74.1 0.5 0.3 0.0 0.0 74.9 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 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 amount 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 30 billion due within 1 month (2018: USD 28.3 billion), USD 0.6 billion due between 1 month and 1 year (2018: USD 0.6 billion) and USD 0 billion due between 1 and 5 years (2018: USD 0 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 6.3 billion (2018: USD 3.5 billion), guarantees measured at fair value of USD 1.0 billion (2018: USD 1.6 billion) and forward starting reverse repurchase agreements measured at fair value of USD 20.3 billion (2018: 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 31.12.19 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 5.4 0.3 0.4 0.5 0.0 6.6 Payables from securities financing transactions 7.4 0.1 0.3 0.0 7.8 Cash collateral payables on derivative instruments 31.4 31.4 Customer deposits 423.9 16.5 7.3 3.5 0.0 451.2 Funding from UBS Group AG and its subsidiaries 2 0.0 0.2 2.3 29.0 24.6 56.2 Debt issued measured at amortized cost 2 4.3 4.7 27.8 20.7 9.0 66.5 Other financial liabilities measured at amortized cost 5.2 0.1 0.5 1.9 2.0 9.6 of which: lease liabilities 0.1 0.1 0.5 1.9 2.0 4.5 Total financial liabilities measured at amortized cost 477.6 22.0 38.5 55.6 35.6 629.3 Financial liabilities at fair value held for trading 3,4 30.6 30.6 Derivative financial instruments 3 120.9 120.9 Brokerage payables designated at fair value 37.2 37.2 Debt issued designated at fair value 5 21.3 17.4 9.5 12.7 7.1 68.0 Other financial liabilities designated at fair value 34.0 0.4 0.5 0.4 0.9 36.1 Total financial liabilities measured at fair value through profit or loss 244.0 17.8 9.9 13.1 8.0 292.9 Total 721.6 39.9 48.4 68.7 43.6 922.2 Guarantees, commitments and forward starting transactions 6 Loan commitments 7 33.1 0.5 0.3 0.0 33.9 Guarantees 7 19.1 19.1 Forward starting transactions Reverse repurchase agreements 7 21.9 0.0 21.9 Securities borrowing agreements 0.0 Total 74.1 0.5 0.3 0.0 0.0 74.9 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 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 amount 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 30 billion due within 1 month (2018: USD 28.3 billion), USD 0.6 billion due between 1 month and 1 year (2018: USD 0.6 billion) and USD 0 billion due between 1 and 5 years (2018: USD 0 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 6.3 billion (2018: USD 3.5 billion), guarantees measured at fair value of USD 1.0 billion (2018: USD 1.6 billion) and forward starting reverse repurchase agreements measured at fair value of USD 20.3 billion (2018: USD 8.1 billion) are under the time bucket Due within 1 month. |
Hedge accounting (Tables)
Hedge accounting (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 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 3 9 40 14 65 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 Interest rate swaps 4 43 17 64 Derivatives designated in hedge accounting relationships (undiscounted cash flows) 2019 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 6 5 0 11 Cash outflows 6 5 0 11 Net cash flows 0 0 0 0 2018 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 9 2 11 Cash outflows 9 2 11 Net cash flows 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps 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 2019 2018 2017 Balance at the beginning of the year 109 360 955 Effective portion of changes in fair value of hedging instruments recognized in OCI 1,571 (42) 45 Amount reclassified to Net interest income when the hedged item affected profit / (loss), for the year ended 31 December (175) (294) (843) of which: reclassified to interest income on amortized-cost instruments 1 (175) (293) of which: reclassified to interest income on FVTPL instruments 1 0 (1) Translation effects recognized directly in retained earnings 9 18 39 Income tax related to cash flow hedges (253) 67 163 Balance at the end of the year 1,260 109 360 of which: related to hedging relationships for which hedge accounting continues to be applied 1,2 1,596 74 of which: related to hedging relationships for which hedge accounting is no longer applied 1,2 (43) 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 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 69,443 70,149 Carrying amount Derivative financial assets 16 24 Derivative financial liabilities 1 Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1 1,639 97 Changes in fair value of hedged items 1 (1,571) (73) Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income 1,571 (42) 45 Ineffectiveness recognized as Other net income from financial instruments measured at fair value through profit or loss 68 25 8 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Cash flow hedges of forecast transactions referencing LIBOR USD million 31.12.19 Hedging instruments: interest rate swaps Nominal amount 16,462 Carrying amount Derivative financial assets 0 Derivative financial liabilities 0 |
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 31.12.19 31.12.18 31.12.17 Foreign currency translation reserve 4,028 3,924 4,466 of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries 1 643 777 of which: for which hedge accounting continues to be applied 1 386 521 of which: for which hedge accounting is no longer applied 1 257 255 Effective portion of changes in fair value of hedging instruments reclassified to Other income upon disposal of investment for the year ended 1 (14) 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 31.12.19 31.12.18 Hedging instruments: derivative financial instruments Nominal amount 11,992 11,537 Carrying amount Derivative financial assets 9 56 Derivative financial liabilities 171 48 Hedging instruments: non-derivative foreign currency assets and liabilities Nominal amount 217 229 Carrying amount Receivables from securities financing transactions 109 115 Payables from securities financing transactions 109 115 Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 Changes in fair value of hedging instruments (142) 205 Changes in fair value of hedged items 134 (205) Effective portion of changes in fair value of hedging instruments recognized in Foreign currency translation OCI (134) 181 Ineffectiveness recognized as Other net income from financial instruments measured at fair value through profit or loss (8) 24 |
Interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Hedging instruments and hedged items USD million 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 65,257 63,816 Carrying amount Derivative financial assets 33 27 Derivative financial liabilities 1 Hedged items: debt issued measured at amortized cost Carrying amount 67,379 63,785 of which: accumulated amount of fair value hedge adjustment 1,099 (298) Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1,427 (341) (16) Changes in fair value of hedged items (1,408) 329 (4) Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss 19 (11) (20) |
Portfolio interest rate risk | |
Notes Hedge Accounting [Line Items] | |
Disclosure of fair value hedge accounting [text block] | Hedging instruments and hedged items USD million 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 4,493 10,318 Carrying amount Derivative financial assets 0 Derivative financial liabilities 14 31 Hedged items: loans and advances to customers Carrying amount 4,494 10,299 of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting 1 117 200 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 1 172 89 1 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 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1 (38) (22) (10) Changes in fair value of hedged items 1 32 16 3 Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss (6) (6) (7) 1 For the year ended 31 December 2017, 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 31.12.19 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 3 9 40 14 65 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 Interest rate swaps 4 43 17 64 Derivatives designated in hedge accounting relationships (undiscounted cash flows) 2019 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 6 5 0 11 Cash outflows 6 5 0 11 Net cash flows 0 0 0 0 2018 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 9 2 11 Cash outflows 9 2 11 Net cash flows 0 0 0 1 Undiscounted cash inflows and cash outflows of interest rate swaps 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 2019 2018 2017 Balance at the beginning of the year 109 360 955 Effective portion of changes in fair value of hedging instruments recognized in OCI 1,571 (42) 45 Amount reclassified to Net interest income when the hedged item affected profit / (loss), for the year ended 31 December (175) (294) (843) of which: reclassified to interest income on amortized-cost instruments 1 (175) (293) of which: reclassified to interest income on FVTPL instruments 1 0 (1) Translation effects recognized directly in retained earnings 9 18 39 Income tax related to cash flow hedges (253) 67 163 Balance at the end of the year 1,260 109 360 of which: related to hedging relationships for which hedge accounting continues to be applied 1,2 1,596 74 of which: related to hedging relationships for which hedge accounting is no longer applied 1,2 (43) 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 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 69,443 70,149 Carrying amount Derivative financial assets 16 24 Derivative financial liabilities 1 Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1 1,639 97 Changes in fair value of hedged items 1 (1,571) (73) Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income 1,571 (42) 45 Ineffectiveness recognized as Other net income from financial instruments measured at fair value through profit or loss 68 25 8 1 This Note addresses the requirement of IFRS 7 effective from 1 January 2018, for which data is provided prospectively. Cash flow hedges of forecast transactions referencing LIBOR USD million 31.12.19 Hedging instruments: interest rate swaps Nominal amount 16,462 Carrying amount Derivative financial assets 0 Derivative financial liabilities 0 |
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 31.12.19 31.12.18 31.12.17 Foreign currency translation reserve 4,032 3,940 4,455 of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries 1 634 770 of which: for which hedge accounting continues to be applied 1 377 515 of which: for which hedge accounting is no longer applied 1 257 255 Effective portion of changes in fair value of hedging instruments reclassified to Other income upon disposal of investment for the year ended 1 (14) 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 31.12.19 31.12.18 Hedging instruments: derivative financial instruments Nominal amount 11,875 11,432 Carrying amount Derivative financial assets 9 56 Derivative financial liabilities 170 45 Hedging instruments: non-derivative foreign currency assets and liabilities Nominal amount 217 229 Carrying amount Receivables from securities financing transactions 109 115 Payables from securities financing transactions 109 115 Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 Changes in fair value of hedging instruments (153) 199 Changes in fair value of hedged items 144 (199) Effective portion of changes in fair value of hedging instruments recognized in Foreign currency translation OCI (144) 181 Ineffectiveness recognized as Other net income from financial instruments measured at fair value through profit or loss (8) 18 |
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 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 65,257 63,816 Carrying amount Derivative financial assets 33 27 Derivative financial liabilities 1 Hedged items: debt issued measured at amortized cost Carrying amount 26,120 28,139 of which: accumulated amount of fair value hedge adjustment 574 282 Hedged items: funding from UBS Group AG and its subsidiaries Carrying amount 41,258 35,647 of which: accumulated amount of fair value hedge adjustment 525 (580) Hedge ineffectiveness For the year ended USD million 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1,427 (341) (16) Changes in fair value of hedged items (1,408) 329 (4) Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss 19 (11) (20) |
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 31.12.19 31.12.18 Hedging instruments: interest rate swaps Nominal amount 4,493 10,318 Carrying amount Derivative financial assets 0 Derivative financial liabilities 14 31 Hedged items: loans and advances to customers Carrying amount 4,494 10,299 of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting 1 117 200 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 1 172 89 1 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 31.12.19 31.12.18 31.12.17 Changes in fair value of hedging instruments 1 (38) (22) (10) Changes in fair value of hedged items 1 32 16 3 Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss (6) (6) (7) 1 For the year ended 31 December 2017, 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, 2019 | |
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 31.12.19 31.12.18 31.12.17 Net periodic expenses for defined benefit plans 461 188 481 of which: related to major pension plans 1 440 186 460 of which: Swiss plan 2 417 153 414 of which: UK plan 3 11 15 of which: US and German plans 21 22 31 of which: related to post-employment medical insurance plans 3 2 (11) 3 of which: related to remaining plans and other expenses 4 18 13 17 Expenses for defined contribution plans 5 326 268 243 of which: UK plans 82 80 72 of which: US plan 173 127 110 of which: remaining plans 71 61 61 Total pension and other post-employment benefit plan expenses 6 787 457 723 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 31.12.19 31.12.18 31.12.17 Major pension plans 1 (135) (230) 253 of which: Swiss plan (22) (352) (79) of which: UK plan (78) 130 304 of which: US and German plans (35) (8) 28 Post-employment medical insurance plans 2 (3) 7 1 Remaining plans (8) 3 31 Gains / (losses) recognized in other comprehensive income, before tax (146) (220) 286 Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income (41) 276 11 Gains / (losses) recognized in other comprehensive income, net of tax 3 (186) 56 296 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 asset USD million 31.12.19 31.12.18 Major pension plans 1 9 0 of which: Swiss plan 0 0 of which: UK plan 4 0 of which: US and German plans 5 0 Total net defined benefit pension and post-employment asset 2 9 0 1 Refer to Note 29a for more information. 2 Refer to Note 17. Balance sheet – net defined benefit pension and post-employment liability USD million 31.12.19 31.12.18 Major pension plans 1 527 671 of which: Swiss plan 0 0 of which: UK plan 0 160 of which: US and German plans 2 527 511 Post-employment medical insurance plans 3 62 62 Remaining plans 44 42 Total net defined benefit pension and post-employment liability 4 633 775 1 Refer to Note 29a for more information. 2 Of the total liability recognized as of 31 December 2019, USD 111 million related to US plans and USD 416 million related to German plans (31 December 2018: USD 137 million and USD 374 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 31.12.19 31.12.18 31.12.17 Received by UBS Fees 34 35 36 Paid by UBS Rent 4 4 5 Dividends, capital repayments and interest 11 10 10 |
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 31.12.19 31.12.18 Financial instruments bought by pension funds UBS shares (in thousands of shares) 967 889 UBS debt instruments (par values, USD million) 2 13 Financial instruments sold by pension funds or matured UBS shares (in thousands of shares) 1,977 547 UBS debt instruments (par values, USD million) 8 3 UBS shares held by pension and other post-employment benefit plans 31.12.19 31.12.18 Number of shares (in thousands of shares) 15,701 16,712 Fair value (USD million) 198 207 |
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 2019 2018 2019 2018 2019 2018 2019 2018 Defined benefit obligation at the beginning of the year 22,566 23,419 3,192 3,744 1,679 1,816 27,437 28,978 Current service cost 409 405 0 0 6 7 415 413 Interest expense 200 151 92 93 59 55 351 299 Plan participant contributions 240 218 0 0 0 0 240 218 Remeasurements 1,728 (242) 361 (266) 185 (69) 2,275 (577) of which: actuarial (gains) / losses due to changes in demographic assumptions (196) 0 (26) (18) 3 (5) (220) (23) of which: actuarial (gains) / losses due to changes in financial assumptions 1,641 (639) 421 (257) 179 (69) 2,241 (964) of which: experience (gains) / losses 1 284 397 (34) 8 4 5 254 410 Past service cost related to plan amendments 0 (241) 0 4 0 0 0 (237) Curtailments 0 (20) 0 0 0 0 0 (20) Benefit payments (1,046) (954) (135) (202) (102) (112) (1,283) (1,268) Foreign currency translation 399 (170) 144 (181) (8) (18) 535 (369) Defined benefit obligation at the end of the year 24,496 22,566 3,654 3,192 1,820 1,679 29,970 27,437 of which: amounts owed to active members 11,577 10,452 164 146 235 226 11,976 10,823 of which: amounts owed to deferred members 0 0 1,559 1,434 675 606 2,233 2,040 of which: amounts owed to retirees 12,918 12,114 1,931 1,612 911 847 15,760 14,574 Fair value of plan assets at the beginning of the year 25,839 26,656 3,032 3,469 1,168 1,265 30,039 31,390 Return on plan assets excluding amounts included in interest income 2,059 (523) 284 (136) 150 (77) 2,492 (736) Interest income 233 177 89 86 47 44 369 306 Employer contributions 452 505 242 0 38 51 732 556 Plan participant contributions 240 218 0 0 0 0 240 218 Benefit payments (1,046) (954) (135) (202) (102) (112) (1,283) (1,268) Administration expenses, taxes and premiums paid (11) (11) 0 0 (2) (3) (13) (14) Foreign currency translation 453 (228) 146 (185) 0 0 599 (412) Fair value of plan assets at the end of the year 28,219 25,839 3,658 3,032 1,299 1,168 33,176 30,039 Asset ceiling effect at the beginning of the year 3,274 3,237 0 0 0 0 3,274 3,237 Interest expense on asset ceiling effect 30 23 0 0 0 0 30 23 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect 353 71 0 0 0 0 353 71 Foreign currency translation 67 (58) 0 0 0 0 67 (58) Asset ceiling effect at the end of the year 3,724 3,274 0 0 0 0 3,724 3,274 Net defined benefit asset / (liability) 0 0 4 (160) (521) (511) (518) (671) 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 (160) (275) (511) (550) (671) (825) Net periodic expenses recognized in net profit (417) (153) (3) (11) (21) (22) (440) (186) Gains / (losses) recognized in other comprehensive income (22) (352) (78) 130 (35) (8) (135) (230) Employer contributions 452 505 242 0 38 51 732 556 Foreign currency translation (13) 0 2 (4) 8 18 (3) 14 Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 4 (160) (521) (511) (518) (671) Funded and unfunded plans Defined benefit obligation from funded plans 24,496 22,566 3,654 3,192 1,319 1,219 29,469 26,976 Defined benefit obligation from unfunded plans 0 0 0 0 501 460 501 460 Plan assets 28,219 25,839 3,658 3,032 1,299 1,168 33,176 30,039 Surplus / (deficit) 3,724 3,274 4 (160) (521) (511) 3,206 2,603 Asset ceiling effect 3,724 3,274 0 0 0 0 3,724 3,274 Net defined benefit asset / (liability) 0 0 4 (160) (521) (511) (518) (671) 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 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Current service cost 409 405 0 0 6 7 415 413 Interest expense related to defined benefit obligation 200 151 92 93 59 55 351 299 Interest income related to plan assets (233) (177) (89) (86) (47) (44) (369) (306) Interest expense on asset ceiling effect 30 23 0 0 0 0 30 23 Administration expenses, taxes and premiums paid 11 11 0 0 2 3 13 14 Past service cost related to plan amendments 0 (241) 0 4 0 0 0 (237) Curtailments 0 (20) 0 0 0 0 0 (20) Net periodic expenses recognized in net profit 417 153 3 11 21 22 440 186 Analysis of amounts recognized in other comprehensive income (OCI) USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Remeasurement of defined benefit obligation (1,728) 242 (361) 266 (185) 69 (2,275) 577 Return on plan assets excluding amounts included in interest income 2,059 (523) 284 (136) 150 (77) 2,492 (736) Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect (353) (71) 0 0 0 0 (353) (71) Total gains / (losses) recognized in other comprehensive income, before tax (22) (352) (78) 130 (35) (8) (135) (230) |
Disclosure of maturity analysis of expected benefit payments [text block] | Swiss plan UK plan US and German plans 1 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Duration of the defined benefit obligation (in years) 14.9 14.5 20.2 19.5 10.1 9.8 Maturity analysis of benefits expected to be paid USD million Benefits expected to be paid within 12 months 1,232 1,153 93 82 121 108 Benefits expected to be paid between 1 and 3 years 2,483 2,356 209 187 228 216 Benefits expected to be paid between 3 and 6 years 3,670 3,554 384 345 346 336 Benefits expected to be paid between 6 and 11 years 5,761 5,643 748 701 548 566 Benefits expected to be paid between 11 and 16 years 5,070 5,142 807 770 455 494 Benefits expected to be paid in more than 16 years 15,517 16,792 3,913 3,927 721 798 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 Swiss plan UK plan US and German plans 1 In % 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Discount rate 0.29 0.92 2.07 2.90 2.58 3.69 Rate of salary increase 1.50 1.50 0.00 0.00 2.37 2.81 Rate of pension increase 0.00 0.00 2.92 3.10 1.80 1.50 Rate of interest credit on retirement savings 0.49 0.92 0.00 0.00 2.57 3.70 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 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Discount rate Increase by 50 basis points (1,505) (1,327) (346) (292) (86) (77) Decrease by 50 basis points 1,710 1,503 395 333 93 84 Rate of salary increase Increase by 50 basis points 76 68 – 2 – 2 1 1 Decrease by 50 basis points (73) (65) – 2 – 2 (1) (1) Rate of pension increase Increase by 50 basis points 1,221 1,090 331 260 7 6 Decrease by 50 basis points – 3 – 3 (299) (262) (7) (6) Rate of interest credit on retirement savings Increase by 50 basis points 175 231 – 4 – 4 9 9 Decrease by 50 basis points (102) 5 (219) – 4 – 4 (9) (9) Life expectancy Increase in longevity by one additional year 886 751 154 122 51 42 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 2019 and as of 31 December 2018, 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. 5 As of 31 December 2019, 21% of retirement savings were subject to a legal minimum rate of 1.00%. |
Disclosure of composition and fair value of plan assets [text block] | Composition and fair value of plan assets Swiss plan 31.12.19 31.12.18 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 159 0 159 1 137 0 137 1 Real estate / property Domestic 0 3,050 3,050 11 0 2,963 2,963 11 Foreign 0 160 160 1 0 0 0 0 Investment funds Equity Domestic 701 0 701 2 628 0 628 2 Foreign 6,091 1,653 7,743 27 5,721 1,515 7,237 28 Bonds 1 Domestic, AAA to BBB– 3,238 0 3,238 11 2,570 0 2,570 10 Foreign, AAA to BBB– 5,880 0 5,880 21 6,194 0 6,194 24 Foreign, below BBB– 999 0 999 4 892 0 892 3 Real estate Foreign 0 0 0 0 0 11 11 0 Other 1,604 3,956 5,560 20 518 4,142 4,659 18 Other investments 535 194 729 3 531 18 549 2 Total fair value of plan assets 19,206 9,014 28,219 100 17,190 8,649 25,839 100 31.12.19 31.12.18 Total fair value of plan assets 28,219 25,839 of which: 2 Bank accounts at UBS 159 132 UBS debt instruments 7 13 UBS shares 21 25 Securities lent to UBS 3 1,328 1,567 Property occupied by UBS 88 88 Derivative financial instruments, counterparty UBS 3 10 34 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 2019 and 31 December 2018. Net of collateral, derivative financial instruments amounted to USD 6 million as of 31 December 2019 (31 December 2018: USD 10 million). Composition and fair value of plan assets (continued) UK plan 31.12.19 31.12.18 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 141 0 141 4 143 0 143 5 Bonds 1 Domestic, AAA to BBB– 1,810 0 1,810 49 1,604 0 1,604 53 Investment funds Equity Domestic 33 0 33 1 26 0 26 1 Foreign 916 0 916 25 658 0 658 22 Bonds 1 Domestic, AAA to BBB– 610 117 727 20 587 93 680 22 Domestic, below BBB– 22 0 22 1 15 0 15 0 Foreign, AAA to BBB– 310 0 310 8 258 0 258 9 Foreign, below BBB– 108 0 108 3 51 0 51 2 Real estate Domestic 103 18 122 3 102 28 131 4 Foreign 0 19 19 1 0 0 0 0 Insurance contracts 0 7 7 0 0 0 0 0 Derivatives 3 0 3 0 0 0 0 0 Asset-backed securities 0 6 6 0 21 2 22 1 Other investments 2 (572) 7 (565) (15) (565) 9 (556) (18) Total fair value of plan assets 3,483 175 3,658 100 2,900 132 3,032 100 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 31.12.19 31.12.18 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 27 0 27 2 Bonds 1 Domestic, AAA to BBB– 475 0 475 37 462 0 462 40 Domestic, below BBB– 2 0 2 0 2 0 2 0 Foreign, AAA to BBB– 99 0 99 8 92 0 92 8 Foreign, below BBB– 3 0 3 0 3 0 3 0 Investment funds Equity Domestic 208 0 208 16 143 0 143 12 Foreign 161 0 161 12 157 0 157 13 Bonds 1 Domestic, AAA to BBB– 176 0 176 14 104 0 104 9 Domestic, below BBB– 28 0 28 2 23 0 23 2 Foreign, AAA to BBB– 17 0 17 1 56 0 56 5 Foreign, below BBB– 3 0 3 0 6 0 6 1 Real estate Domestic 0 13 13 1 0 13 13 1 Other 69 0 69 5 64 0 64 5 Insurance contracts 0 18 18 1 0 17 17 1 Total fair value of plan assets 1,268 31 1,299 100 1,139 29 1,168 100 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 31.12.19 31.12.18 31.12.19 31.12.18 Switzerland BVG 2015 G with CMI 2016 projections 21.6 21.6 23.1 23.1 UK S2PA with CMI 2018 projections 1 23.3 23.4 24.5 24.6 USA RP2014 WCHA with MP2019 projection scale 2 22.8 22.8 24.3 24.3 Germany Dr. K. Heubeck 2018 G 20.7 20.5 23.5 23.3 Life expectancy at age 65 for a female member currently aged 65 aged 45 Country Mortality table 31.12.19 31.12.18 31.12.19 31.12.18 Switzerland BVG 2015 G with CMI 2016 projections 23.6 23.5 25.1 25.0 UK S2PA with CMI 2018 projections 1 25.1 25.2 26.4 26.5 USA RP2014 WCHA with MP2019 projection scale 2 24.4 24.4 25.9 26.0 Germany Dr. K. Heubeck 2018 G 24.2 24.1 26.4 26.3 1 In 2018, the mortality table S2PA with CMI 2017 projections was used. 2 In 2018, the mortality table RP2014 WCHA with MP2018 projection scale was used. |
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 31.12.19 31.12.18 31.12.17 Net periodic expenses for defined benefit plans 291 140 365 of which: related to major pension plans 1 271 141 354 of which: Swiss plan 2 248 108 307 of which: UK plan 3 11 15 of which: US and German plans 21 22 31 of which: related to post-employment medical insurance plans 3 2 (11) 3 of which: related to remaining plans and other expenses 4 17 10 8 Expenses for defined contribution plans 5 278 223 236 of which: UK plans 34 35 65 of which: US plan 173 127 110 of which: remaining plans 71 61 61 Total pension and other post-employment benefit plan expenses 6 569 363 601 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 31.12.19 31.12.18 31.12.17 Major pension plans 1 (128) (79) 276 of which: Swiss plan (15) (201) (56) of which: UK plan (78) 130 304 of which: US and German plans (35) (8) 28 Post-employment medical insurance plans 2 (3) 7 1 Remaining plans 1 3 31 Gains / (losses) recognized in other comprehensive income, before tax (129) (70) 308 Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income (41) 245 6 Gains / (losses) recognized in other comprehensive income, net of tax 3 (170) 175 314 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 asset USD million 31.12.19 31.12.18 Major pension plans 1 9 0 of which: Swiss plan 0 0 of which: UK plan 4 0 of which: US and German plans 5 0 Total net defined benefit pension and post-employment asset 2 9 0 1 Refer to Note 29a for more information. 2 Refer to Note 17. Balance sheet – net defined benefit pension and post-employment liability USD million 31.12.19 31.12.18 Major pension plans 1 527 671 of which: Swiss plan 0 0 of which: UK plan 0 160 of which: US and German plans 2 527 511 Post-employment medical insurance plans 3 62 62 Remaining plans 40 40 Total net defined benefit pension and post-employment liability 4 629 773 1 Refer to Note 29a for more information. 2 Of the total liability recognized as of 31 December 2019, USD 111 million related to US plans and USD 416 million related to German plans (31 December 2018: USD 137 million and USD 374 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 31.12.19 31.12.18 31.12.17 Received by UBS AG Fees 19 22 36 Paid by UBS AG Rent 2 3 5 Dividends, capital repayments and interest 10 10 10 |
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 31.12.19 31.12.18 Financial instruments bought by pension funds UBS Group AG shares (in thousands of shares) 929 831 UBS AG debt instruments (par values, USD million) 1 9 Financial instruments sold by pension funds or matured UBS Group AG shares (in thousands of shares) 1,778 547 UBS AG debt instruments (par values, USD million) 5 2 UBS Group AG shares held by pension and other post-employment benefit plans 31.12.19 31.12.18 Number of shares (in thousands of shares) 14,991 15,934 Fair value (USD million) 189 197 |
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 2019 2018 2019 2018 2019 2018 2019 2018 Defined benefit obligation at the beginning of the year 13,774 14,398 3,192 3,744 1,679 1,816 18,645 19,957 Current service cost 243 251 0 0 6 7 249 258 Interest expense 122 93 92 93 59 55 273 241 Plan participant contributions 149 137 0 0 0 0 149 137 Remeasurements (61) (263) 361 (266) 185 (69) 485 (598) of which: actuarial (gains) / losses due to changes in demographic assumptions (125) 0 (26) (18) 3 (5) (148) (23) of which: actuarial (gains) / losses due to changes in financial assumptions 1,006 (391) 421 (257) 179 (69) 1,605 (716) of which: experience (gains) / losses 1,2 (942) 128 (34) 8 4 5 (972) 142 Past service cost related to plan amendments 0 (132) 0 4 0 0 0 (128) Curtailments 0 (17) 0 0 0 0 0 (17) Benefit payments (624) (586) (135) (202) (102) (112) (860) (900) Foreign currency translation 206 (108) 144 (181) (8) (18) 342 (307) Defined benefit obligation at the end of the year 13,809 13,774 3,654 3,192 1,820 1,679 19,283 18,645 of which: amounts owed to active members 7,073 6,380 164 146 235 226 7,472 6,751 of which: amounts owed to deferred members 0 0 1,559 1,434 675 606 2,233 2,040 of which: amounts owed to retirees 6,735 7,394 1,931 1,612 911 847 9,577 9,854 Fair value of plan assets at the beginning of the year 15,772 16,388 3,032 3,469 1,168 1,265 19,972 21,122 Return on plan assets excluding amounts included in interest income 2 (30) (434) 284 (136) 150 (77) 403 (647) Interest income 142 109 89 86 47 44 278 238 Employer contributions 271 308 242 0 38 51 550 360 Plan participant contributions 149 137 0 0 0 0 149 137 Benefit payments (624) (586) (135) (202) (102) (112) (860) (900) Administration expenses, taxes and premiums paid (7) (7) 0 0 (2) (3) (9) (10) Foreign currency translation 235 (144) 146 (185) 0 0 381 (328) Fair value of plan assets at the end of the year 15,908 15,772 3,658 3,032 1,299 1,168 20,864 19,972 Asset ceiling effect at the beginning of the year 1,998 1,990 0 0 0 0 1,998 1,990 Interest expense on asset ceiling effect 18 14 0 0 0 0 18 14 Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect 46 30 0 0 0 0 46 30 Foreign currency translation 36 (36) 0 0 0 0 36 (36) Asset ceiling effect at the end of the year 2,099 1,998 0 0 0 0 2,099 1,998 Net defined benefit asset / (liability) 0 0 4 (160) (521) (511) (518) (671) 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 (160) (275) (511) (550) (671) (825) Net periodic expenses recognized in net profit (248) (108) (3) (11) (21) (22) (271) (141) Gains / (losses) recognized in other comprehensive income (15) (201) (78) 130 (35) (8) (128) (79) Employer contributions 271 308 242 0 38 51 550 360 Foreign currency translation (8) 0 2 (4) 8 18 2 14 Net asset / (liability) recognized on the balance sheet at the end of the year 0 0 4 (160) (521) (511) (518) (671) Funded and unfunded plans Defined benefit obligation from funded plans 13,809 13,774 3,654 3,192 1,319 1,219 18,782 18,184 Defined benefit obligation from unfunded plans 0 0 0 0 501 460 501 460 Plan assets 15,908 15,772 3,658 3,032 1,299 1,168 20,864 19,972 Surplus / (deficit) 2,099 1,998 4 (160) (521) (511) 1,582 1,327 Asset ceiling effect 2,099 1,998 0 0 0 0 2,099 1,998 Net defined benefit asset / (liability) 0 0 4 (160) (521) (511) (518) (671) 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 Includes the effect from employees transferring between UBS AG and UBS Business Solutions during the period. Analysis of amounts recognized in net profit USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Current service cost 243 251 0 0 6 7 249 258 Interest expense related to defined benefit obligation 122 93 92 93 59 55 273 241 Interest income related to plan assets (142) (109) (89) (86) (47) (44) (278) (238) Interest expense on asset ceiling effect 18 14 0 0 0 0 18 14 Administration expenses, taxes and premiums paid 7 7 0 0 2 3 9 10 Past service cost related to plan amendments 0 (132) 0 4 0 0 0 (128) Curtailments 0 (17) 0 0 0 0 0 (17) Net periodic expenses recognized in net profit 248 108 3 11 21 22 271 141 Analysis of amounts recognized in other comprehensive income (OCI) USD million Swiss plan UK plan US and German plans Total For the year ended 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Remeasurement of defined benefit obligation 61 263 (361) 266 (185) 69 (485) 598 Return on plan assets excluding amounts included in interest income (30) (434) 284 (136) 150 (77) 403 (647) Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect (46) (30) 0 0 0 0 (46) (30) Total gains / (losses) recognized in other comprehensive income, before tax (15) (201) (78) 130 (35) (8) (128) (79) |
Disclosure of maturity analysis of expected benefit payments [text block] | Swiss plan UK plan US and German plans 1 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Duration of the defined benefit obligation (in years) 15.2 14.5 20.2 19.5 10.1 9.8 Maturity analysis of benefits expected to be paid USD million Benefits expected to be paid within 12 months 687 704 93 82 121 108 Benefits expected to be paid between 1 and 3 years 1,383 1,439 209 187 228 216 Benefits expected to be paid between 3 and 6 years 2,048 2,170 384 345 346 336 Benefits expected to be paid between 6 and 11 years 3,232 3,446 748 701 548 566 Benefits expected to be paid between 11 and 16 years 2,899 3,140 807 770 455 494 Benefits expected to be paid in more than 16 years 9,136 10,253 3,913 3,927 721 798 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 Swiss plan UK plan US and German plans 1 In % 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Discount rate 0.29 0.92 2.07 2.90 2.58 3.69 Rate of salary increase 1.50 1.50 0.00 0.00 2.37 2.81 Rate of pension increase 0.00 0.00 2.92 3.10 1.80 1.50 Rate of interest credit on retirement savings 0.49 0.92 0.00 0.00 2.57 3.70 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 31.12.19 31.12.18 31.12.19 31.12.18 31.12.19 31.12.18 Discount rate Increase by 50 basis points (853) (797) (346) (292) (86) (77) Decrease by 50 basis points 972 904 395 333 93 84 Rate of salary increase Increase by 50 basis points 49 45 – 2 – 2 1 1 Decrease by 50 basis points (47) (43) – 2 – 2 (1) (1) Rate of pension increase Increase by 50 basis points 673 643 331 260 7 6 Decrease by 50 basis points – 3 – 3 (299) (262) (7) (6) Rate of interest credit on retirement savings Increase by 50 basis points 107 141 – 4 – 4 9 9 Decrease by 50 basis points (62) 5 (134) – 4 – 4 (9) (9) Life expectancy Increase in longevity by one additional year 459 446 154 122 51 42 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 2019 and as of 31 December 2018, 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. 5 As of 31 December 2019, 18.5% of retirement savings were subject to a legal minimum rate of 1.00%. |
Disclosure of composition and fair value of plan assets [text block] | Composition and fair value of plan assets Swiss plan 31.12.19 31.12.18 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 90 0 90 1 83 0 83 1 Real estate / property Domestic 0 1,720 1,720 11 0 1,808 1,808 11 Foreign 0 90 90 1 0 0 0 0 Investment funds Equity Domestic 395 0 395 2 383 0 383 2 Foreign 3,433 932 4,365 27 3,492 925 4,417 28 Bonds 1 Domestic, AAA to BBB– 1,825 0 1,825 11 1,569 0 1,569 10 Foreign, AAA to BBB– 3,315 0 3,315 21 3,781 0 3,781 24 Foreign, below BBB– 563 0 563 4 544 0 544 3 Real estate Foreign 0 0 0 0 0 7 7 0 Other 904 2,230 3,134 20 316 2,528 2,844 18 Other investments 301 109 411 3 324 11 335 2 Total fair value of plan assets 10,827 5,081 15,908 100 10,493 5,279 15,772 100 31.12.19 31.12.18 Total fair value of plan assets 15,908 15,772 of which: 2 Bank accounts at UBS AG 90 80 UBS AG debt instruments 4 8 UBS Group AG shares 12 15 Securities lent to UBS AG 3 748 957 Property occupied by UBS AG 50 54 Derivative financial instruments, counterparty UBS AG 3 6 21 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 the 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 2019 and 31 December 2018. Net of collateral, derivative financial instruments amounted to USD 3 million as of 31 December 2019 (31 December 2018: USD 6 million). Composition and fair value of plan assets (continued) UK plan 31.12.19 31.12.18 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 141 0 141 4 143 0 143 5 Bonds 1 Domestic, AAA to BBB– 1,810 0 1,810 49 1,604 0 1,604 53 Investment funds Equity Domestic 33 0 33 1 26 0 26 1 Foreign 916 0 916 25 658 0 658 22 Bonds 1 Domestic, AAA to BBB– 610 117 727 20 587 93 680 22 Domestic, below BBB– 22 0 22 1 15 0 15 0 Foreign, AAA to BBB– 310 0 310 8 258 0 258 9 Foreign, below BBB– 108 0 108 3 51 0 51 2 Real estate Domestic 103 18 122 3 102 28 131 4 Foreign 0 19 19 1 0 0 0 0 Insurance contracts 0 7 7 0 0 0 0 0 Derivatives 3 0 3 0 0 0 0 0 Asset-backed securities 0 6 6 0 21 2 22 1 Other investments 2 (572) 7 (565) (15) (565) 9 (556) (18) Total fair value of plan assets 3,483 175 3,658 100 2,900 132 3,032 100 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 31.12.19 31.12.18 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 27 0 27 2 Bonds 1 Domestic, AAA to BBB– 475 0 475 37 462 0 462 40 Domestic, below BBB– 2 0 2 0 2 0 2 0 Foreign, AAA to BBB– 99 0 99 8 92 0 92 8 Foreign, below BBB– 3 0 3 0 3 0 3 0 Investment funds Equity Domestic 208 0 208 16 143 0 143 12 Foreign 161 0 161 12 157 0 157 13 Bonds 1 Domestic, AAA to BBB– 176 0 176 14 104 0 104 9 Domestic, below BBB– 28 0 28 2 23 0 23 2 Foreign, AAA to BBB– 17 0 17 1 56 0 56 5 Foreign, below BBB– 3 0 3 0 6 0 6 1 Real estate Domestic 0 13 13 1 0 13 13 1 Other 69 0 69 5 64 0 64 5 Insurance contracts 0 18 18 1 0 17 17 1 Total fair value of plan assets 1,268 31 1,299 100 1,139 29 1,168 100 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 31.12.19 31.12.18 31.12.19 31.12.18 Switzerland BVG 2015 G with CMI 2016 projections 21.6 21.6 23.1 23.1 UK S2PA with CMI 2018 projections 1 23.3 23.4 24.5 24.6 USA RP2014 WCHA with MP2019 projection scale 2 22.8 22.8 24.3 24.3 Germany Dr. K. Heubeck 2018 G 20.7 20.5 23.5 23.3 Life expectancy at age 65 for a female member currently aged 65 aged 45 Country Mortality table 31.12.19 31.12.18 31.12.19 31.12.18 Switzerland BVG 2015 G with CMI 2016 projections 23.6 23.5 25.1 25.0 UK S2PA with CMI 2018 projections 1 25.1 25.2 26.4 26.5 USA RP2014 WCHA with MP2019 projection scale 2 24.4 24.4 25.9 26.0 Germany Dr. K. Heubeck 2018 G 24.2 24.1 26.4 26.3 1 In 2018, the mortality table S2PA with CMI 2017 projections was used. 2 In 2018, the mortality table RP2014 WCHA with MP2018 projection scale was used. |
Employee benefits_ variable c_2
Employee benefits: variable compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 2019 Expenses deferred to 2020 and later 1 USD million Related to the performance year 2019 Related to prior performance years Total Related to the performance year 2019 Related to prior performance years Total Non-deferred cash 1,894 (26) 1,868 0 0 0 Deferred compensation awards 299 588 887 429 608 1,036 of which: Equity Ownership Plan 122 300 422 205 219 424 of which: Deferred Contingent Capital Plan 113 262 375 173 365 538 of which: Long-Term Incentive Plan 39 0 39 25 0 25 of which: Asset Management EOP 25 26 51 26 23 49 Total variable compensation – performance awards 2,193 562 2,755 429 608 1,036 Replacement payments 5 51 56 44 30 75 Forfeiture credits 0 (86) (86) 0 0 0 Severance payments 125 0 125 0 0 0 Retention plan and other payments 28 28 56 23 29 52 Deferred Contingent Capital Plan: interest expense 0 94 94 50 172 222 Total variable compensation – other 159 88 246 117 232 349 Financial advisor variable compensation 3,233 268 3,501 197 710 907 of which: non-deferred cash 3,064 0 3,064 0 0 0 of which: deferred share-based awards 57 48 106 54 130 183 of which: deferred cash-based awards 112 219 331 144 580 724 Compensation commitments with recruited financial advisors 2 32 510 542 350 1,617 1,967 Total financial advisor variable compensation 3,265 778 4,043 548 2,327 2,874 Total variable compensation including FA variable compensation 5,617 1,428 7,045 3 1,093 3,166 4,259 1 Estimate as of 31 December 2019. Actual amounts to be expensed in future periods may vary, e.g., due to forfeiture of awards. 2 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. 3 Includes USD 610 million in expenses related to share-based compensation (performance awards: USD 461 million; other variable compensation: USD 43 million; financial advisor compensation: USD 106 million). A further USD 61 million in expenses related to share-based compensation was recognized within other expense categories included in Note 6 (salaries: USD 10 million, related to role-based allowances; social security: USD 25 million; other personnel expenses: USD 27 million related to the Equity Plus Plan). Total personnel expense related to share-based equity-settled compensation excluding social security was USD 619 million. Variable compensation including financial advisor variable compensation (continued) Expenses recognized in 2018 Expenses deferred to 2019 and later 1 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 2 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 3 1,250 3,444 4,694 1 Estimate as of 31 December 2018. Actual amounts expensed may vary, e.g., due to forfeiture of awards. 2 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. 3 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 expense categories included in Note 6 (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 expense related to share-based equity-settled compensation excluding social security was USD 676 million. Variable compensation including financial advisor variable compensation (continued) Expenses recognized in 2017 Expenses deferred to 2018 and later 1 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 2 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 3 1,316 3,848 5,164 1 Estimate as of 31 December 2017. Actual amounts expensed may vary, e.g., due to forfeiture of awards. 2 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. 3 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 expense categories included in Note 6 (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 expense related to share-based equity-settled compensation excluding social security was USD 735 million. |
Disclosure of number and weighted average exercise prices of UBS share and performance share awards [text block] | Movements in outstanding share-based compensation awards Number of shares 2019 Weighted average grant date fair value (USD) Number of shares 2018 Weighted average grant date fair value (USD) Outstanding, at the beginning of the year 146,845,027 16 162,835,713 15 Awarded during the year 77,641,909 11 58,329,398 17 Distributed during the year (61,152,200) 13 (67,696,099) 15 Forfeited during the year (7,269,974) 14 (6,623,984) 16 Outstanding, at the end of the year 156,064,763 14 146,845,027 16 of which: shares vested for accounting purposes 79,486,447 66,850,562 |
Disclosure of number and weighted average exercise prices of UBS option awards [text block] | Movements in outstanding option awards Number of options 2019 Weighted average exercise price (CHF) Number of options 2018 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 6,567,592 14 32,583,168 25 Exercised during the year 1 (2,818,070) 10 (1,813,583) 12 Forfeited during the year (512) 16 (19,752) 23 Expired unexercised (3,749,010) 16 (24,182,241) 29 Outstanding, at the end of the year 0 n/a 6,567,592 14 Exercisable, at the end of the year 0 n/a 6,567,592 14 1 The weighted average share price upon option exercise was CHF 12.69 in 2019 (2018: CHF 16.22), resulting in an intrinsic value of CHF 7 million of options exercised during 2019 (2018: CHF 7 million). |
Disclosure of number and weighted average exercise prices of SARs [text block] | Movements in outstanding SAR awards Number of SARs 2019 Weighted average exercise price (CHF) Number of SARs 2018 Weighted average exercise price (CHF) Outstanding, at the beginning of the year 5,965,769 12 8,513,415 12 Exercised during the year 1 (5,381,259) 11 (2,490,146) 11 Forfeited during the year 0 0 (11,000) 13 Expired unexercised (584,510) 16 (46,500) 12 Outstanding, at the end of the year 0 n/a 5,965,769 12 Exercisable, at the end of the year 0 n/a 5,965,769 12 1 The weighted average share price upon exercise of SARs was CHF 12.71 in 2019 (2018: CHF 16.15), resulting in an intrinsic value of CHF 7 million of SARs exercised during 2019 (2018: CHF 12 million). |
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 2019 Expenses deferred to 2020 and later 1 USD million Related to the performance year 2019 Related to prior performance years Total Related to the performance year 2019 Related to prior performance years Total Non-deferred cash 1,706 (24) 1,682 0 0 0 Deferred compensation awards 287 576 863 413 592 1,005 of which: Equity Ownership Plan 115 294 410 198 213 412 of which: Deferred Contingent Capital Plan 109 256 365 166 356 521 of which: Long-Term Incentive Plan 38 0 38 23 0 23 of which: Asset Management EOP 25 26 51 26 23 49 Total variable compensation – performance awards 1,993 553 2,545 413 592 1,005 Replacement payments 5 49 55 43 30 73 Forfeiture credits 0 (84) (84) 0 0 0 Severance payments 110 0 110 0 0 0 Retention plan and other payments 24 27 52 22 29 51 Deferred Contingent Capital Plan: interest expense 0 93 93 50 169 219 Total variable compensation – other 140 85 225 115 228 343 Financial advisor variable compensation 3,233 268 3,501 197 710 907 of which: non-deferred cash 3,064 0 3,064 0 0 0 of which: deferred share-based awards 57 48 106 54 130 183 of which: deferred cash-based awards 112 219 331 144 580 724 Compensation commitments with recruited financial advisors 2 32 510 542 350 1,617 1,967 Total financial advisor variable compensation 3,265 778 4,043 548 2,327 2,874 Total variable compensation including FA variable compensation 5,398 1,416 6,814 3 1,076 3,146 4,222 1 Estimate as of 31 December 2019. Actual amounts to be expensed in future periods may vary, e.g., due to forfeiture of awards. 2 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. 3 Includes USD 595 million in expenses related to share-based compensation (performance awards: USD 448 million; other variable compensation: USD 42 million; financial advisor compensation: USD 106 million). A further USD 54 million in expenses related to share-based compensation was recognized within other expense categories included in Note 6 (salaries: USD 10 million, related to role-based allowances; social security: USD 23 million; other personnel expenses: USD 22 million related to the Equity Plus Plan). Variable compensation including financial advisor variable compensation (continued) Expenses recognized in 2018 Expenses deferred to 2019 and later 1 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 2 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 3 1,233 3,424 4,656 1 Estimate as of 31 December 2018. Actual amounts expensed may vary, e.g., due to forfeiture of awards. 2 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. 3 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 expense categories included in Note 6 (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 (continued) Expenses recognized in 2017 Expenses deferred to 2018 and later 1 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 2 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 3 1,306 3,829 5,135 1 Estimate as of 31 December 2017. Actual amounts expensed may vary, e.g., due to forfeiture of awards. 2 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. 3 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 expense categories included in Note 6 (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). |
Disclosure of number and weighted average exercise prices of UBS share and performance share awards [text block] | Movements in outstanding share-based compensation awards Number of shares 2019 Weighted average grant date fair value (USD) Number of shares 2018 Weighted average grant date fair value (USD) Outstanding, at the beginning of the year 201,793 15 404,720 15 Awarded during the year 29,092 11 26,005 13 Distributed during the year (140,441) 14 (228,932) 15 Forfeited during the year 0 0 0 0 Outstanding, at the end of the year 90,443 14 201,793 15 of which: shares vested for accounting purposes 56,492 133,225 |
Interests in subsidiaries (Tabl
Interests in subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Interests In Subsidiaries [Line Items] | |
Disclosure Of Significant Investments In Subsidiaries Explanatory | Individually significant subsidiaries of UBS Group AG as of 31 December 2019 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 1 UBS Business Solutions AG holds subsidiaries in Poland, China and India. Individually significant subsidiaries of UBS AG as of 31 December 2019 1 Company Registered office Primary business Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 3,150.0 2 100.0 UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 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 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 3,150,000,000. 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 2019 Company Registered office Primary business Share capital in million Equity interest accumulated in % 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 Asset Management Life Ltd London, United Kingdom Asset Management GBP 15.0 100.0 UBS Asset Management Switzerland AG Zurich, Switzerland Asset Management CHF 0.5 100.0 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 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 of UBS Group AG as of 31 December 2019 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 1 UBS Business Solutions AG holds subsidiaries in Poland, China and India. Individually significant subsidiaries of UBS AG as of 31 December 2019 1 Company Registered office Primary business Share capital in million Equity interest accumulated in % UBS Americas Holding LLC Wilmington, Delaware, USA Corporate Center USD 3,150.0 2 100.0 UBS Americas Inc. Wilmington, Delaware, USA Corporate Center USD 0.0 100.0 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 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 3,150,000,000. 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 of UBS AG as of 31 December 2019 Company Registered office Primary business Share capital in million Equity interest accumulated in % 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 Asset Management Life Ltd London, United Kingdom Asset Management GBP 15.0 100.0 UBS Asset Management Switzerland AG Zurich, Switzerland Asset Management CHF 0.5 100.0 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 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, 2019 | |
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 2019 2018 Carrying amount at the beginning of the year 1,099 1,045 Additions 0 3 Disposals 1 0 (431) Reclassifications 2 (21) Share of comprehensive income 25 529 of which: share of net profit 3 46 529 of which: share of other comprehensive income 4 (21) 1 Dividends received (83) (42) Impairment (1) Foreign currency translation 11 16 Carrying amount at the end of the year 1,051 1,099 of which: associates 1,010 1,066 of which: SIX Group AG, Zurich 5 887 952 of which: other associates 123 114 of which: joint ventures 41 33 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 2019, consists of USD 28 million from associates and USD 18 million from joint ventures. 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. 4 For 2019, consists of negative USD 22 million from associates and USD 1 million from joint ventures. For 2018, the total of USD 1 million is from associates. 5 In 2019, 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 2019 2018 Carrying amount at the beginning of the year 1,099 1,045 Additions 0 3 Disposals 1 0 (431) Reclassifications 2 (21) Share of comprehensive income 25 529 of which: share of net profit 3 46 529 of which: share of other comprehensive income 4 (21) 1 Dividends received (83) (42) Impairment (1) Foreign currency translation 11 16 Carrying amount at the end of the year 1,051 1,099 of which: associates 1,010 1,066 of which: SIX Group AG, Zurich 5 887 952 of which: other associates 123 114 of which: joint ventures 41 33 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 2019, consists of USD 28 million from associates and USD 18 million from joint ventures. 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. 4 For 2019, consists of negative USD 22 million from associates and USD 1 million from joint ventures. For 2018, the total of USD 1 million is from associates. 5 In 2019, 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, 2019 | |
Disclosure Interests In Unconsolidated Structured Entities [Line Items] | |
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory | Interests in unconsolidated structured entities 31.12.19 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 462 130 5,874 6,466 6,466 Derivative financial instruments 9 9 36 55 53 Loans and advances to customers 174 174 174 Financial assets at fair value not held for trading 81 8 2 157 245 997 Financial assets measured at fair value through other comprehensive income 3,955 3,955 3,955 Other financial assets measured at amortized cost 335 16 2 351 1,372 Total assets 888 3 4,118 6,242 11,247 Derivative financial instruments 2 4 225 324 552 1 Total liabilities 2 225 324 552 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 55 5 73 6 413 7 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 2 166 302 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 3 4,212 7,643 12,682 Derivative financial instruments 3 4 123 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 5 69 6 385 7 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 amount of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. 3 As of 31 December 2019, USD 0.6 billion of the USD 0.9 billion (31 December 2018: USD 0.6 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 4 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 amount and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 5 Represents the principal amount outstanding. 6 Represents the market value of total assets. 7 Represents the net asset value of the investment funds sponsored by UBS and the carrying amount of UBS’s interests in the investment funds not sponsored by UBS. |
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 As of or for the year ended 31.12.19 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income (1) 0 (1) (2) Net fee and commission income 13 50 63 Other net income from financial instruments measured at fair value through profit or loss 19 (18) 9 11 Total income 19 (5) 58 72 Asset information (USD billion) 2 1 1 2 42 3 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 financial instruments measured at fair value through profit or loss 0 8 20 29 Total income 1 18 60 78 Asset information (USD billion) 2 1 2 2 18 3 1 Represents the amount of assets transferred to the respective securitization vehicles. 2 Represents the amount of assets transferred to the respective client vehicles. 3 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 31.12.19 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 462 130 5,874 6,466 6,466 Derivative financial instruments 9 9 36 55 53 Loans and advances to customers 174 174 174 Financial assets at fair value not held for trading 81 8 2 62 151 902 Financial assets measured at fair value through other comprehensive income 3,955 3,955 3,955 Other financial assets measured at amortized cost 335 16 2 351 1,372 Total assets 888 3 4,118 6,147 11,152 Derivative financial instruments 2 4 225 324 552 1 Total liabilities 2 225 324 552 Assets held by the unconsolidated structured entities in which UBS had an interest (USD billion) 55 5 73 6 413 7 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 85 220 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 3 4,212 7,562 12,600 Derivative financial instruments 3 4 123 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 5 69 6 385 7 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 amount of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. 3 As of 31 December 2019, USD 0.6 billion of the USD 0.9 billion (31 December 2018: USD 0.6 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. 4 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 amount and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. 5 Represents the principal amount outstanding. 6 Represents the market value of total assets. 7 Represents the net asset value of the investment funds sponsored by UBS and the carrying amount of UBS’s interests in the investment funds not sponsored by UBS. |
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 As of or for the year ended 31.12.19 USD million, except where indicated Securitization vehicles Client vehicles Investment funds Total Net interest income (1) 0 (1) (2) Net fee and commission income 13 50 63 Other net income from financial instruments measured at fair value through profit or loss 19 (18) 9 11 Total income 19 (5) 58 72 Asset information (USD billion) 2 1 1 2 42 3 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 financial instruments measured at fair value through profit or loss 0 8 20 29 Total income 1 18 60 78 Asset information (USD billion) 2 1 2 2 18 3 1 Represents the amount of assets transferred to the respective securitization vehicles. 2 Represents the amount of assets transferred to the respective client vehicles. 3 Represents the total net asset value of the respective investment funds. |
Finance lease receivables (Tabl
Finance lease receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Operating Leases And Finance Leases Table [Line Items] | |
Disclosure Of Finance Lease And Operating Lease By Lessor Explanatory | Lease receivables USD million 31.12.19 Total minimum lease payments Unearned finance income Present value 2020 448 31 417 2021–2024 874 52 822 Thereafter 221 6 215 Total 1,544 89 1,455 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 Lessor Explanatory | Lease receivables USD million 31.12.19 Total minimum lease payments Unearned finance income Present value 2020 448 31 417 2021–2024 874 52 822 Thereafter 221 6 215 Total 1,544 89 1,455 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, 2019 | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,447 12,367 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 326,786 309,499 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 22,980 21,953 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 576,815 558,420 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 583,159 564,765 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 35,092 33,848 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 85,728 83,626 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. |
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. Gross Total gross Sub-participations Net As of 31.12.19, USD million Measured at fair value Not measured at fair value Total guarantees 986 18,142 19,128 (2,646) 16,482 Loan commitments 6,308 27,547 33,856 (787) 33,069 Forward starting transactions 1 Reverse repurchase agreements 20,284 1,657 21,941 Repurchase agreements 7,740 408 8,148 As of 31.12.18, USD million Total guarantees 1,639 18,146 19,785 (2,803) 16,982 Loan commitments 3,535 31,212 34,747 (647) 34,099 Forward starting transactions 1 Reverse repurchase agreements 8,117 925 9,042 Securities borrowing agreements 12 12 Repurchase agreements 7,926 400 8,326 1 Cash to be paid in the future by either UBS or the counterparty. |
UBS AG | |
Maximum Exposure To Credit Risk [Line Items] | |
Disclosure Of Credit Risk Exposure Explanatory | USD million 31.12.19 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 107,068 107,068 0 0 0 0 0 0 Loans and advances to banks 12,379 12,298 80 0 (6) (4) (1) (1) Receivables from securities financing transactions 84,245 84,245 0 0 (2) (2) 0 0 Cash collateral receivables on derivative instruments 23,289 23,289 0 0 0 0 0 0 Loans and advances to customers 327,992 310,705 15,538 1,749 (764) (82) (123) (559) of which: Private clients with mortgages 132,646 124,063 7,624 959 (110) (15) (55) (41) of which: Real estate financing 38,481 32,932 5,532 17 (43) (5) (34) (4) of which: Large corporate clients 9,703 9,184 424 94 (117) (15) (4) (98) of which: SME clients 11,786 9,817 1,449 521 (303) (17) (15) (271) of which: Lombard 112,893 112,796 0 98 (22) (4) 0 (18) of which: Credit cards 1,661 1,314 325 22 (35) (8) (14) (13) of which: Commodity trade finance 2,844 2,826 8 10 (81) (5) 0 (77) Other financial assets measured at amortized cost 23,012 21,985 451 576 (143) (35) (13) (95) of which: Loans to financial advisors 2,877 2,341 334 202 (109) (29) (11) (70) Total financial assets measured at amortized cost 577,985 559,590 16,069 2,326 (915) (124) (137) (655) Financial assets measured at fair value through other comprehensive income 6,345 6,345 0 0 0 0 0 0 Total on-balance sheet financial assets in scope of ECL requirements 584,329 565,935 16,069 2,326 (915) (124) (137) (655) 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 18,142 17,757 304 82 (42) (8) (1) (33) of which: Large corporate clients 3,687 3,461 203 24 (10) (1) 0 (9) of which: SME clients 1,180 1,055 67 58 (24) 0 0 (23) of which: Financial intermediaries and hedge funds 7,966 7,950 16 0 (5) (4) 0 0 of which: Lombard 622 622 0 0 (1) 0 0 (1) of which: Commodity trade finance 2,334 2,320 13 0 (1) (1) 0 0 Irrevocable loan commitments 27,547 27,078 419 50 (35) (30) (5) 0 of which: Large corporate clients 18,735 18,349 359 27 (27) (24) (3) 0 Forward starting reverse repurchase and securities borrowing agreements 1,657 1,657 0 0 0 0 0 0 Committed unconditionally revocable credit lines 36,979 35,735 1,197 46 (34) (17) (17) 0 of which: Real estate financing 5,242 4,934 307 0 (16) (3) (13) 0 of which: Large corporate clients 4,274 4,188 69 17 (1) (1) 0 0 of which: SME clients 4,787 4,589 171 27 (9) (8) (1) 0 of which: Lombard 7,976 7,975 0 1 0 0 0 0 of which: Credit cards 7,890 7,535 355 0 (6) (4) (2) 0 of which: Commodity trade finance 344 344 0 0 0 0 0 0 Irrevocable committed prolongation of existing loans 3,289 3,285 0 4 (3) (3) 0 0 Total off-balance sheet financial instruments and other credit lines 87,614 85,513 1,920 182 (114) (58) (23) (33) Total allowances and provisions (1,029) (181) (160) (688) 1 The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. |
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. Gross Total gross Sub-participations Net As of 31.12.19, USD million Measured at fair value Not measured at fair value Total guarantees 986 18,142 19,128 (2,646) 16,482 Loan commitments 6,308 27,547 33,856 (787) 33,069 Forward starting transactions 1 Reverse repurchase agreements 20,284 1,657 21,941 Repurchase agreements 7,740 408 8,148 As of 31.12.18, USD million Total guarantees 1,639 18,146 19,785 (2,803) 16,982 Loan commitments 3,535 31,212 34,747 (647) 34,099 Forward starting transactions 1 Reverse repurchase agreements 8,117 925 9,042 Securities borrowing agreements 12 12 Repurchase agreements 7,926 400 8,326 1 Cash to be paid in the future by either UBS AG or the counterparty. |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | |
Disclosure Of Transactions Between Related Parties Explanatory | Related-party disclosure For the year ended USD million 31.12.19 31.12.18 31.12.17 Received by UBS Fees 34 35 36 Paid by UBS Rent 4 4 5 Dividends, capital repayments and interest 11 10 10 |
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 31.12.19 31.12.18 31.12.17 Base salaries and other cash payments 1 32 27 25 Incentive awards – cash 2 14 15 15 Annual incentive award under DCCP 21 22 22 Employer’s contributions to retirement benefit plans 3 3 3 Benefits in kind, fringe benefits (at market value) 1 2 2 Equity-based compensation 3 37 40 40 Total 108 109 106 Total (CHF million) 4 107 107 106 1 May include role-based allowances in line with market practice and 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 five years. Refer to Note 30 for more information. For GEB members, equity-based compensation for 2019 was entirely comprised of LTIP awards and equity-based compensation for 2018 and 2017 was entirely comprised of EOP awards. For the Chairman of the BoD the equity-based compensation for 2019, 2018 and 2017 was entirely comprised of UBS shares. 4 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2019: USD / CHF 0.99; 2018: USD / CHF 0.98; 2017: USD / CHF 1.00). |
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 31.12.19 31.12.18 Number of stock options from equity participation plans held by non-independent members of the BoD and the GEB members 1 0 0 Number of shares held by members of the BoD, GEB and parties closely linked to them 2 6,887,826 5,954,967 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 2019 2018 Balance at the beginning of the year 34 42 Additions 9 15 Reductions (11) (22) Balance at the end of the year 2 33 34 Balance at the end of the year (CHF million) 2, 3 32 34 1 All loans are secured loans. 2 No unused uncommitted credit facilities as of 31 December 2019. Excludes unused uncommitted credit facilities for one GEB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018. 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 2019 2018 Carrying amount at the beginning of the year 829 565 Additions 145 276 Reductions (5) (13) Foreign currency translation 13 0 Carrying amount at the end of the year 982 829 of which: unsecured loans 971 818 Other transactions with associates and joint ventures As of or for the year ended USD million 31.12.19 31.12.18 Payments to associates and joint ventures for goods and services received 124 177 Fees received for services provided to associates and joint ventures 1 4 Liabilities to associates and joint ventures 101 Commitments and contingent liabilities to associates and joint ventures 1,598 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 31.12.19 31.12.18 31.12.17 Received by UBS AG Fees 19 22 36 Paid by UBS AG Rent 2 3 5 Dividends, capital repayments and interest 10 10 10 |
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 31.12.19 31.12.18 31.12.17 Base salaries and other cash payments 1 30 25 24 Incentive awards – cash 2 13 14 13 Annual incentive award under DCCP 20 21 20 Employer’s contributions to retirement benefit plans 2 3 3 Benefits in kind, fringe benefits (at market value) 1 2 2 Equity-based compensation 3 34 38 36 Total 101 102 98 Total (CHF million) 4 101 100 98 1 May include role-based allowances in line with market practice and 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 five years. Refer to Note 30 for more information. For EB members, equity-based compensation for 2019 was entirely comprised of LTIP awards and equity-based compensation for 2018 and 2017 was entirely comprised of EOP awards. For the Chairman of the BoD, the equity-based compensation for 2019, 2018 and 2017 was entirely comprised of UBS shares. 4 Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2019: USD / CHF 0.99; 2018: USD / CHF 0.98; 2017: USD / CHF 1.00) |
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 31.12.19 31.12.18 Number of stock options from equity participation plans held by non-independent members of the BoD and the EB members 1 0 0 Number of shares held by members of the BoD, EB and parties closely linked to them 2 6,609,848 5,676,989 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 2019 2018 Balance at the beginning of the year 28 34 Additions 6 15 Reductions (11) (22) Balance at the end of the year 2 23 28 Balance at the end of the year (CHF million) 2, 3 22 27 1 All loans are secured loans. 2 No unused uncommitted credit facilities as of 31 December 2019. Excludes unused uncommitted credit facilities for one EB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018. 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 2019 2018 Carrying amount at the beginning of the year 829 565 Additions 145 276 Reductions (5) (13) Foreign currency translation 13 0 Carrying amount at the end of the year 982 829 of which: unsecured loans 971 818 Other transactions with associates and joint ventures As of or for the year ended USD million 31.12.19 31.12.18 Payments to associates and joint ventures for goods and services received 124 177 Fees received for services provided to associates and joint ventures 1 4 Liabilities to associates and joint ventures 101 Commitments and contingent liabilities to associates and joint ventures 1,598 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 31.12.19 31.12.18 Receivables Loans and advances to customers 1,255 1,161 Financial assets at fair value held for trading 180 139 Other financial assets measured at amortized cost 60 105 Payables Customer deposits 2,314 2,152 Funding from UBS Group AG and its subsidiaries 47,866 41,202 Other financial liabilities measured at amortized cost 1,829 1,711 Other financial liabilities designated at fair value 1 217 1 Represents funding recognized from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
Invested assets and net new m_2
Invested assets and net new money (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Fund assets managed by UBS 358 342 Discretionary assets 1,209 999 Other invested assets 2,040 1,760 Total invested assets 1 3,607 3,101 of which: double counts 248 213 Net new money 1 51 59 1 Includes double counts. |
Development of invested assets | Development of invested assets USD billion 2019 2018 Total invested assets at the beginning of the year 1 3,101 3,262 Net new money 51 59 Market movements 2 444 (180) Foreign currency translation 6 (35) Other effects 5 (5) of which: acquisitions / (divestments) (1) 7 Total invested assets at the end of the year 1 3,607 3,101 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 31.12.19 31.12.18 Fund assets managed by UBS 358 342 Discretionary assets 1,209 999 Other invested assets 2,040 1,760 Total invested assets 1 3,607 3,101 of which: double counts 248 213 Net new money 1 51 59 1 Includes double counts. |
Development of invested assets | Development of invested assets USD billion 2019 2018 Total invested assets at the beginning of the year 1 3,101 3,262 Net new money 51 59 Market movements 2 444 (180) Foreign currency translation 6 (35) Other effects 5 (5) of which: acquisitions / (divestments) (1) 7 Total invested assets at the end of the year 1 3,607 3,101 1 Includes double counts. 2 Includes interest and dividend income. |
Currency translation rates (Tab
Currency translation rates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Foreign Exchange Rates [Line Items] | |
Disclosure of foreign exchange rates [text block] | Closing exchange rate Average rate 1 As of For the year ended 31.12.19 31.12.18 31.12.19 31.12.18 31.12.17 1 CHF 1.03 1.02 1.01 1.02 1.02 1 EUR 1.12 1.15 1.12 1.18 1.14 1 GBP 1.32 1.28 1.28 1.33 1.30 100 JPY 0.92 0.91 0.92 0.91 0.89 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 31.12.19 31.12.18 31.12.19 31.12.18 31.12.17 1 CHF 1.03 1.02 1.01 1.02 1.02 1 EUR 1.12 1.15 1.12 1.18 1.14 1 GBP 1.32 1.28 1.28 1.33 1.30 100 JPY 0.92 0.91 0.92 0.91 0.89 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, 2019 | |
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 2019 Operating income 3 Interest income 8,966 4,104 5,380 (3,028) 15,421 Interest expense (9,472) (1,021) (3,583) 3,070 (11,006) Net interest income (506) 3,083 1,796 42 4,415 Other net income from financial instruments measured at fair value through profit or loss 5,116 924 1,114 (322) 6,833 Credit loss (expense) / recovery (51) 7 (33) 0 (78) Fee and commission income 3,285 4,342 12,527 (997) 19,156 Fee and commission expense (674) (819) (1,188) 986 (1,696) Net fee and commission income 2,610 3,523 11,338 (11) 17,460 Other income 4,962 259 1,960 (6,504) 677 Total operating income 12,131 7,796 16,176 (6,795) 29,307 Operating expenses Personnel expenses 3,251 1,936 8,614 0 13,801 General and administrative expenses 3,467 3,181 4,565 (2,627) 8,586 Depreciation and impairment of property, equipment and software 861 221 602 (108) 1,576 Amortization and impairment of goodwill and intangible assets 94 0 170 (88) 175 Total operating expenses 7,672 5,338 13,951 (2,823) 24,138 Operating profit / (loss) before tax 4,458 2,458 2,225 (3,972) 5,169 Tax expense / (benefit) 176 514 530 (21) 1,198 Net profit / (loss) 4,283 1,944 1,695 (3,951) 3,971 Net profit / (loss) attributable to non-controlling interests 0 0 6 0 6 Net profit / (loss) attributable to shareholders 4,283 1,944 1,689 (3,951) 3,965 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, as well as standalone information for other subsidiaries. 3 Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 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 3 Interest income 8,176 4,263 5,308 (2,960) 14,787 Interest expense (8,673) (901) (3,240) 2,998 (9,815) Net interest income (497) 3,363 2,068 38 4,971 Other net income from financial instruments measured at fair value through profit or loss 5,204 889 970 (110) 6,953 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) (1,108) 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 goodwill and 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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. 3 Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. 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 3 Interest income 7,219 4,063 3,774 (2,338) 12,717 Interest expense (6,101) (680) (2,161) 2,245 (6,696) Net interest income 1,118 3,383 1,613 (93) 6,021 Other net income from financial instruments measured at fair value through profit or loss 3,821 918 836 64 5,640 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 4,387 172 3,022 (6,616) 965 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 goodwill and 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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. 3 Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. |
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 2019 Comprehensive income attributable to shareholders Net profit / (loss) 4,283 1,944 1,689 (3,951) 3,965 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (12) 150 39 (85) 92 Financial assets measured at fair value through other comprehensive income, net of tax 0 0 117 0 117 Cash flow hedges, net of tax 870 140 147 (15) 1,143 Total other comprehensive income that may be reclassified to the income statement, net of tax 859 290 303 (100) 1,351 Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax (78) (6) (75) (11) (170) Own credit on financial liabilities designated at fair value, net of tax (392) (392) Total other comprehensive income that will not be reclassified to the income statement, net of tax (470) (6) (75) (11) (562) Total other comprehensive income 388 284 228 (111) 789 Total comprehensive income attributable to shareholders 4,671 2,228 1,917 (4,062) 4,754 Total comprehensive income attributable to non-controlling interests 2 2 Total comprehensive income 4,671 2,228 1,919 (4,062) 4,756 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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 December 2019 Assets Cash and balances at central banks 36,386 60,926 9,756 107,068 Loans and advances to banks 32,888 7,992 17,430 (45,931) 12,379 Receivables from securities financing transactions 56,946 12,536 42,534 (27,771) 84,245 Cash collateral receivables on derivative instruments 22,830 990 8,508 (9,038) 23,289 Loans and advances to customers 88,386 193,543 63,676 (17,612) 327,992 Other financial assets measured at amortized cost 5,723 8,168 11,448 (2,327) 23,012 Total financial assets measured at amortized cost 243,159 284,154 153,351 (102,679) 577,985 Financial assets at fair value held for trading 113,802 53 15,320 (1,479) 127,695 of which: assets pledged as collateral that may be sold or repledged by counterparties 58,599 0 5,386 (22,701) 41,285 Derivative financial instruments 118,708 4,251 29,782 (30,899) 121,843 Brokerage receivables 11,453 6,556 (1) 18,007 Financial assets at fair value not held for trading 49,525 6,701 41,908 (14,498) 83,636 Total financial assets measured at fair value through profit or loss 293,488 11,004 93,565 (46,877) 351,181 Financial assets measured at fair value through other comprehensive income 176 6,169 6,345 Investments in subsidiaries and associates 51,212 28 39 (50,227) 1,051 Property, equipment and software 3 7,318 1,144 3,749 (385) 11,826 Goodwill and intangible assets 222 6,212 35 6,469 Deferred tax assets 618 0 8,895 9,513 Other non-financial assets 5,060 1,770 857 (140) 7,547 Total assets 601,252 298,101 272,837 (200,273) 971,916 Liabilities Amounts due to banks 55,738 28,240 35,773 (113,181) 6,570 Payables from securities financing transactions 21,326 565 13,583 (27,696) 7,778 Cash collateral payables on derivative instruments 30,571 98 9,773 (9,027) 31,416 Customer deposits 85,954 239,226 86,550 38,861 450,591 Funding from UBS Group AG and its subsidiaries 4 47,866 47,866 Debt issued measured at amortized cost 54,317 8,583 5 (70) 62,835 Other financial liabilities measured at amortized cost 3 5,345 2,666 5,204 (2,842) 10,373 Total financial liabilities measured at amortized cost 301,117 279,379 150,888 (113,954) 617,429 Financial liabilities at fair value held for trading 25,292 383 6,233 (1,317) 30,591 Derivative financial instruments 117,597 4,046 30,089 (30,852) 120,880 Brokerage payables designated at fair value 25,358 11,877 (3) 37,233 Debt issued designated at fair value 65,677 952 (38) 66,592 Other financial liabilities designated at fair value 8,571 31,031 (3,445) 36,157 Total financial liabilities measured at fair value through profit or loss 242,495 4,429 80,184 (35,655) 291,452 Provisions 1,101 196 1,641 2,938 Other non-financial liabilities 1,644 931 3,559 34 6,168 Total liabilities 546,357 284,936 236,271 (149,576) 917,988 Equity attributable to shareholders 54,895 13,165 36,391 (50,697) 53,754 Equity attributable to non-controlling interests 174 174 Total equity 54,895 13,165 36,566 (50,697) 53,928 Total liabilities and equity 601,252 298,101 272,837 (200,273) 971,916 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, as well as standalone information for other subsidiaries. 3 Includes the effects of the adoption of IFRS 16, Leases, as of 1 January 2019. Refer to Note 1 for more information. 4 Represents funding from UBS Group AG to UBS AG. 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 December 2018 Assets Cash and balances at central banks 36,350 53,490 18,530 108,370 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 6,495 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 3 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 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. 3 Represents funding from UBS Group Funding (Switzerland) AG to UBS AG. |
Schedule Of Condensed Cash Flow Statement [Table Text Block] | 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 2019 Net cash flow from / (used in) operating activities 17,531 8,882 (7,608) 18,805 Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets (6) 0 (20) (26) Disposal of subsidiaries, associates and intangible assets 2 100 0 14 114 Purchase of property, equipment and software (628) (173) (600) (1,401) Disposal of property, equipment and software 10 0 1 11 Purchase of financial assets measured at fair value through other comprehensive income (10) 0 (3,414) (3,424) Disposal and redemption of financial assets measured at fair value through other comprehensive income 10 0 3,904 3,913 Net (purchase) / redemption of debt securities measured at amortized cost (1,045) 437 45 (562) Net cash flow from / (used in) investing activities (1,569) 264 (70) (1,374) Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) (17,150) 0 0 (17,149) Distributions paid on UBS shares (3,250) 0 0 (3,250) Repayment of lease liabilities (262) 0 (234) (496) Issuance of long-term debt, including debt issued designated at fair value 58,437 621 142 59,199 Repayment of long-term debt, including debt issued designated at fair value (67,113) (752) (1,017) (68,883) Funding from UBS Group AG and its subsidiaries 3 5,848 0 0 5,848 Net changes in non-controlling interests 0 0 (8) (8) Net activity related to group internal capital transactions and dividends 3,569 (2,055) (1,514) 0 Net cash flow from / (used in) financing activities (19,922) (2,186) (2,630) (24,738) Total cash flow Cash and cash equivalents at the beginning of the year 42,895 54,757 28,201 125,853 Net cash flow from / (used in) operating, investing and financing activities (3,960) 6,961 (10,308) (7,307) Effects of exchange rate differences on cash and cash equivalents 664 833 (239) 1,258 Cash and cash equivalents at the end of the year 4 39,598 62,551 17,655 119,804 of which: cash and balances at central banks 36,275 60,926 9,756 106,957 of which: loans and advances to banks 2,697 1,127 7,493 11,317 of which: money market paper 5 626 498 406 1,530 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends. 2 Includes dividends received from associates. 3 Represents funding from UBS Group AG to UBS AG. 4 Comprises balances with an original maturity of three months or less. USD 3,192 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 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 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 4 5,956 0 0 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 5 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 6 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 of the Annual Report 2018 for more information. 2 Cash flows generally represent a third-party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends. 3 Includes dividends received from associates. 4 Represents funding from UBS Group Funding (Switzerland) AG to UBS AG. 5 Comprises balances with an original maturity of three months or less. USD 5,245 million of cash and cash equivalents were restricted. 6 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 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 3 11,180 0 0 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 4 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 5 1,806 7 280 2,093 1 Cash flows generally represent a third-party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends. 2 Includes dividends received from associates. 3 Represents funding from UBS Group Funding (Switzerland) AG to UBS AG. 4 Comprises balances with an original maturity of three months or less. USD 2,497 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. |
MD&A - Risk management and co_5
MD&A - Risk management and control - Credit Risk (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 | |
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) of our business divisions and Corporate Center by general market risk type 1 For the year ended 31.12.19 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 2 6 3 2 1 Max. 14 12 8 8 6 Average 6 9 5 3 2 31.12.19 5 8 5 3 3 Total management VaR, Group 6 18 11 9 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 17 9 7 6 7 4 3 2 Corporate Center 4 8 5 5 1 5 2 1 0 Diversification effect 2,3 (5) (4) (1) (4) (2) (1) 0 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 Corporate Center 4 7 5 6 1 4 2 1 0 Diversification effect 2,3 (5) (5) (1) (4) (3) (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 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 risk – banking book USD million +1 bp Parallel up 1 Parallel down 1 Steepener 2 Flattener 3 Short-term up 4 Short-term down 5 CHF (3.3) (463.1) 519.6 (235.7) 143.9 (44.7) 47.6 EUR (0.4) (73.6) 79.3 (5.3) (7.3) (28.0) 29.5 GBP 0.1 8.9 (23.0) (6.7) 6.4 11.5 (11.0) USD (20.8) (4,317.5) 3,570.0 (566.9) (450.5) (2,019.7) 2,132.4 Other (0.8) (157.9) 169.9 (1.4) (29.8) (85.0) 93.5 Total effect on economic value of equity as per Pillar 3 requirement as of 31.12.19 (25.1) (5,003.2) 4,315.9 (816.1) (337.2) (2,166.0) 2,292.0 Additional tier 1 (AT1) capital instruments 5.0 954.3 (1,024.6) (42.2) 253.5 610.8 (638.5) Total including AT1 capital instruments as of 31.12.19 (20.1) (4,048.9) 3,291.2 (858.3) (83.7) (1,555.2) 1,653.5 1 Rates across all tenors move by ±150 bps for Swiss franc, ±200 bps for euro and US dollar and ±250 bps for pound sterling. 2 Short-term rates decrease and long-term rates increase. 3 Short-term rates increase and long-term rates decrease. 4 Short-term rates increase more than long-term rates. 5 Short-term rates decrease more than long-term rates. |
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) of our business divisions and Corporate Center by general market risk type 1 For the year ended 31.12.19 USD million Equity Interest rates Credit spreads Foreign exchange Commodities Min. 2 6 3 2 1 Max. 14 12 8 8 6 Average 6 9 5 3 2 31.12.19 5 8 5 3 3 Total management VaR, Group 6 18 11 9 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 17 9 7 6 7 4 3 2 Corporate Center 4 8 5 5 1 5 2 1 0 Diversification effect 2,3 (5) (4) (1) (4) (2) (1) 0 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 Corporate Center 4 7 5 6 1 4 2 1 0 Diversification effect 2,3 (5) (5) (1) (4) (3) (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 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 risk – banking book USD million +1 bp Parallel up 1 Parallel down 1 Steepener 2 Flattener 3 Short-term up 4 Short-term down 5 CHF (3.3) (463.1) 519.6 (235.7) 143.9 (44.7) 47.6 EUR (0.4) (73.6) 79.3 (5.3) (7.3) (28.0) 29.5 GBP 0.1 8.9 (23.0) (6.7) 6.4 11.5 (11.0) USD (20.8) (4,317.5) 3,570.0 (566.9) (450.5) (2,019.7) 2,132.4 Other (0.8) (157.9) 169.9 (1.4) (29.8) (85.0) 93.5 Total effect on economic value of equity as per Pillar 3 requirement as of 31.12.19 (25.1) (5,003.2) 4,315.9 (816.1) (337.2) (2,166.0) 2,292.0 Additional tier 1 (AT1) capital instruments 5.0 954.3 (1,024.6) (42.2) 253.5 610.8 (638.5) Total including AT1 capital instruments as of 31.12.19 (20.1) (4,048.9) 3,291.2 (858.3) (83.7) (1,555.2) 1,653.5 1 Rates across all tenors move by ±150 bps for Swiss franc, ±200 bps for euro and US dollar and ±250 bps for pound sterling. 2 Short-term rates decrease and long-term rates increase. 3 Short-term rates increase and long-term rates decrease. 4 Short-term rates increase more than long-term rates. 5 Short-term rates decrease more than long-term rates. |
MD&A - Capital management (Tabl
MD&A - Capital management (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 31.12.19 31.12.18 Total IFRS equity 54,707 53,103 Equity attributable to non-controlling interests (174) (176) Defined benefit plans, net of tax (9) 0 Deferred tax assets recognized for tax loss carry-forwards (6,121) (6,107) Deferred tax assets on temporary differences, excess over threshold (221) (586) Goodwill, net of tax 1 (6,178) (6,514) Intangible assets, net of tax (195) (251) Compensation-related components (not recognized in net profit) (1,717) (1,652) Expected losses on advanced internal ratings-based portfolio less provisions (495) (368) Unrealized (gains) / losses from cash flow hedges, net of tax (1,260) (109) Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax 48 (397) Prudential valuation adjustments (104) (120) Accruals for proposed dividends to shareholders (2,628) (2,648) Other (72) (56) Total common equity tier 1 capital 35,582 34,119 1 Includes goodwill related to significant investments in financial institutions of USD 178 million as of 31 December 2019 (31 December 2018: USD 176 million) presented on the balance sheet line Investments in associates. |
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 USD million 31.12.19 31.12.18 Total IFRS equity 54,707 53,103 Equity attributable to non-controlling interests (174) (176) Defined benefit plans, net of tax (9) 0 Deferred tax assets recognized for tax loss carry-forwards (6,121) (6,107) Deferred tax assets on temporary differences, excess over threshold (221) (586) Goodwill, net of tax 1 (6,178) (6,514) Intangible assets, net of tax (195) (251) Compensation-related components (not recognized in net profit) (1,717) (1,652) Expected losses on advanced internal ratings-based portfolio less provisions (495) (368) Unrealized (gains) / losses from cash flow hedges, net of tax (1,260) (109) Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax 48 (397) Prudential valuation adjustments (104) (120) Accruals for proposed dividends to shareholders (2,628) (2,648) Other (72) (56) Total common equity tier 1 capital 35,582 34,119 1 Includes goodwill related to significant investments in financial institutions of USD 178 million as of 31 December 2019 (31 December 2018: USD 176 million) presented on the balance sheet line Investments in associates. |
Significant accounting polici_3
Significant accounting policies (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Significant Accounting Policies [Line Items] | |
Date of authorisation for issue of financial statements | Feb. 27, 2020 |
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 | Feb. 27, 2020 |
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, 2019 | |
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_2
Changes in accounting policies, comparability and adjustments (Narrative) (Detail) $ in Millions | Jan. 01, 2019USD ($) | Dec. 31, 2019USD ($)yr | |
Changes In Accounting Policies [Line Items] | |||
Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 | [1] | $ 3,512 | |
Increase in total liabilities due to adoption of IFRS 16 | 3,512 | ||
Interest expense on lease liabilities | [2],[3],[4] | $ 122 | |
Increase (decrease) due to changes in accounting policy: Presentation of dividend income and expense from financial instruments measured at fair value through profit or loss | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | Effective from 1 January 2019, UBS refined the presentation of dividend income and expense. This resulted in a reclassification of dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss into Other net income from financial instruments measured at fair value through profit or loss (prior to 1 January 2019: Other net income from fair value changes on financial instruments). The change aligns the presentation of dividends with related fair value changes from equity instruments and economic hedges, removing volatility that has historically arisen within both Net interest income and Other net income from financial instruments measured at fair value through profit or loss. There is no effect on Total operating income or Net profit / (loss). Prior periods have been restated for this presentational change and the effect on the respective reporting lines is outlined in the table below. | ||
Increase (decrease) due to changes in accounting policy: Changes to Corporate Center | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | As of 1 January 2019, UBS has operationally combined Group Treasury activities with Group ALM and calls this combined unit Group Treasury. In order to further align Group and divisional performance, UBS adjusted the methodology for the allocation of Group Treasury and Corporate Center – Services funding costs and expenses to the business divisions. At the same time, UBS updated its funds transfer pricing framework to better reflect the sources and usage of funding. All of these changes became effective as of 1 January 2019 and prior-period segment information has been restated. Together, these changes decreased the operating results of the business divisions and thereby increased their adjusted cost / income ratios 1–2 percentage points, with an offsetting effect of USD 0.7 billion in Corporate Center’s operating profit / (loss) before tax. Corporate Center has retained 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 has increased the allocation of balance sheet resources from Corporate Center to the business divisions, resulting in USD 223 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. Further, due to the aforementioned changes to UBS’s methodology for allocating funding costs and expenses and a substantial reduction in the size and resource consumption of the various Corporate Center units, UBS provides results for total Corporate Center only and does not separately report Corporate Center – Services, Group Treasury and Non-core and Legacy Portfolio, in compliance with IFRS 8, Operating Segments. Prior-period information has been restated. | ||
Increase (decrease) due to changes in accounting policy: Changes to Corporate Center | Minimum | |||
Changes In Accounting Policies [Line Items] | |||
Increase / (decrease) in adjusted cost/income ratio of the business divisions | 1.00% | ||
Increase (decrease) due to changes in accounting policy: Changes to Corporate Center | Maximum | |||
Changes In Accounting Policies [Line Items] | |||
Increase / (decrease) in adjusted cost/income ratio of the business divisions | 2.00% | ||
Amendments to IAS 39, IFRS 9 and IFRS 7, Interest Rate Benchmark Reform | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | In September 2019, the IASB issued Interest Rate Benchmark Reform – Amendments to IFRS 9, IAS 39 and IFRS 7, enabling hedge accounting to continue during the period of uncertainty before existing interest rate benchmarks are replaced with alternative risk-free interest rates. The amendments are mandatorily effective from 1 January 2020, with early adoption permitted, and apply to hedge relationships that exist at the beginning of the reporting period or are designated thereafter, and to the gains or losses that exist in OCI on adoption. As permitted by the transitional provisions, UBS early adopted the revisions in 2019. Adopting these amendments allows UBS to maintain its existing hedge accounting relationships and to assume that the current benchmark rates will continue to exist, such that the hedge relationships are considered highly effective on a retrospective and prospective basis, with no consequential impact on the financial statements. Further, the amendments bring in additional disclosure requirements on the effects arising from the change in interest rate benchmarks, which are presented in Note 28. | ||
Adoption of IFRS 16, Leases | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | IFRS 16 introduces a single lessee accounting model and fundamentally changes how UBS accounts for operating leases when acting as a lessee, with a requirement to record a right-of-use (RoU) asset and lease liability on the balance sheet. UBS is a lessee in a number of leases, primarily of real estate, including offices, retail branches and sales offices, with a smaller number of IT hardware leases. As permitted by the transitional provisions of IFRS 16, UBS elected to apply the modified retrospective approach and has not restated comparative figures. Overall, adoption of IFRS 16 resulted in a USD 3.5 billion increase in both total assets and total liabilities in UBS’s consolidated financial statements. The newly recognized right-of-use assets and finance lease receivables were fully allocated to the business divisions. There was no effect on equity. The measurement of leases previously classified as finance leases where UBS acts as a lessee has not changed on transition to IFRS 16. Similarly, UBS has made no adjustments where UBS acts as a lessor, in either a finance or operating lease, of physical assets it owns. Where UBS acts as an intermediate lessor, i.e., where UBS enters into a head lease and sub-leases the asset to a third party, the sub-lease has been classified as either a finance or operating lease based primarily on whether the sub-lease term consumes the majority of the remaining useful life of the RoU asset arising from the head lease as of the transition date. Lease liabilities are presented within Other financial liabilities measured at amortized cost and RoU assets within Property, equipment and software. Finance lease receivables are included within Other financial assets measured at amortized cost. Due to the practical expedients taken on transition, there was no effect on equity. | ||
Explanation Of Difference Between Operating Lease Commitments Disclosed Applying IAS 17 And Lease Liabilities Recognised At Date Of Initial Application Of IFRS 16 Explanatory | IFRS 16 introduces a single lessee accounting model and fundamentally changes how UBS accounts for operating leases when acting as a lessee, with a requirement to r ecord a right-of-use (RoU) asset and lease liability on the balance sheet. UBS is a lessee in a number of leases, primarily of real estate, including offices, retail branches and sales offices, with a smaller number of IT hardware leases. As permitted by t he transitional provisions of IFRS 16, UBS elected to apply the modified retrospective approach and has not restated comparative figures. Overall, adoption of IFRS 16 resulted in a USD 3.5 billion increase in both total assets and total liabilities in UBS’ s consolidated financial statements . The newly recognized right-of-use assets and finance lease receivables were fully allocated to the business divisions. There was no effect on equity. | ||
Statement That Lessee Uses Practical Expedients When Applying IFRS 16 Retrospectively To Leases Classified As Operating Leases Applying IAS 17 | UBS applied the following practical expedients that are permitted on transition to IFRS 16 where UBS is a lessee in a lease previously classified as an operating lease: to not reassess whether or not a contract contained a lease; to rely on previous assessments of whether such contracts were considered onerous; to rely on previous sale-and-leaseback assessments; to adjust lease terms with the benefit of hindsight with respect to whether extension or termination options are reasonably certain of being exercised; to discount lease liabilities using the Group’s incremental borrowing rate in each currency as of 1 January 2019; to initially measure the RoU asset at an amount equal to the lease liability for leases previously classified as operating leases, adjusted for existing lease balances, such as rent prepayments, rent accruals, lease incentives and onerous lease provisions, but excluding initial direct costs; and to not apply IFRS 16 to leases the remaining term of which will end within 12 months from the transition date. | ||
Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 | $ 3,500 | ||
Increase in total liabilities due to adoption of IFRS 16 | $ 3,500 | ||
Weighted average lease term | yr | 9 | ||
Depreciation charge for right-of-use assets | $ 487 | ||
Interest expense on lease liabilities | 122 | ||
Approximate net decrease to profit before tax resulting from the application of IFRS 16 | 60 | ||
Decrease in occupancy expenses | $ 533 | ||
Adoption of IFRIC 23 | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | Effective from 1 January 2019, UBS adopted 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. | ||
Net tax expense recognized in retained earnings | $ 11 | ||
Amendments to IAS 19, Employee benefits | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | Effective from 1 January 2019, UBS adopted 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 reporting period after such an event. The amendments also clarify how the accounting requirements for a plan amendment, curtailment or settlement affect the asset ceiling requirements. The amendments are effective prospectively for plan amendments, curtailments or settlements that occur on or after 1 January 2019. | ||
Annual Improvements To IFRSs 2015 to 2017 Cycle [Member] | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | Effective from 1 January 2019, UBS adopted 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. | ||
UBS AG | |||
Changes In Accounting Policies [Line Items] | |||
Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 | [5] | 3,422 | |
Increase in total liabilities due to adoption of IFRS 16 | $ 3,422 | ||
Interest expense on lease liabilities | [6],[7],[8] | $ 118 | |
UBS AG | Increase (decrease) due to changes in accounting policy: Presentation of dividend income and expense from financial instruments measured at fair value through profit or loss | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | Effective from 1 January 2019, UBS AG refined the presentation of dividend income and expense. This resulted in a reclassification of dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss into Other net income from financial instruments measured at fair value through profit or loss (prior to 1 January 2019: Other net income from fair value changes on financial instruments). The change aligns the presentation of dividends with related fair value changes from equity instruments and economic hedges, removing volatility that has historically arisen within both Net interest income and Other net income from financial instruments measured at fair value through profit or loss. There is no effect on Total operating income or Net profit / (loss). Prior periods have been restated for this presentational change and the effect on the respective reporting lines is outlined in the table below. | ||
UBS AG | Increase (decrease) due to changes in accounting policy: Changes to Corporate Center | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | As of 1 January 2019, UBS AG has operationally combined Group Treasury activities with Group ALM and calls this combined unit Group Treasury. In order to further align Group and divisional performance, UBS AG adjusted the methodology for the allocation of Group Treasury and Corporate Center – Services funding costs and expenses to the business divisions. At the same time, UBS AG updated its funds transfer pricing framework to better reflect the sources and usage of funding. All of these changes became effective as of 1 January 2019 and prior-period segment information has been restated. Together, these changes decreased the operating results of the business divisions and thereby increased their adjusted cost / income ratios 1–2 percentage points, with an offsetting effect of USD 0.7 billion in Corporate Center’s operating profit / (loss) before tax. Corporate Center has retained funding costs for deferred tax assets, costs relating to UBS AG’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 AG’s funds transfer pricing framework, UBS AG has increased the allocation of balance sheet resources from Corporate Center to the business divisions, resulting in USD 223 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. Further, due to the aforementioned changes to UBS’s methodology for allocating funding costs and expenses and a substantial reduction in the size and resource consumption of the various Corporate Center units, UBS AG provides results for total Corporate Center only and does not separately report Corporate Center – Services, Group Treasury and Non-core and Legacy Portfolio, in compliance with IFRS 8, Operating Segments. Prior-period information has been restated. | ||
UBS AG | Increase (decrease) due to changes in accounting policy: Changes to Corporate Center | Minimum | |||
Changes In Accounting Policies [Line Items] | |||
Increase / (decrease) in adjusted cost/income ratio of the business divisions | 1.00% | ||
UBS AG | Increase (decrease) due to changes in accounting policy: Changes to Corporate Center | Maximum | |||
Changes In Accounting Policies [Line Items] | |||
Increase / (decrease) in adjusted cost/income ratio of the business divisions | 2.00% | ||
UBS AG | Amendments to IAS 39, IFRS 9 and IFRS 7, Interest Rate Benchmark Reform | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | In September 2019, the IASB issued Interest Rate Benchmark Reform – Amendments to IFRS 9, IAS 39 and IFRS 7, enabling hedge accounting to continue during the period of uncertainty before existing interest rate benchmarks are replaced with alternative risk-free interest rates. The amendments are mandatorily effective from 1 January 2020, with early adoption permitted, and apply to hedge relationships that exist at the beginning of the reporting period or are designated thereafter, and to the gains or losses that exist in OCI on adoption. As permitted by the transitional provisions, UBS AG early adopted the revisions in 2019. Adopting these amendments allows UBS AG to maintain its existing hedge accounting relationships and to assume that the current benchmark rates will continue to exist, such that the hedge relationships are considered highly effective on a retrospective and prospective basis, with no consequential impact on the financial statements. Further, the amendments bring in additional disclosure requirements on the effects arising from the change in interest rate benchmarks, which are presented in Note 28. | ||
UBS AG | Adoption of IFRS 16, Leases | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | IFRS 16 introduces a single lessee accounting model and fundamentally changes how UBS AG accounts for operating leases when acting as a lessee, with a requirement to record a right-of-use (RoU) asset and lease liability on the balance sheet. UBS AG is a lessee in a number of leases, primarily of real estate, including offices, retail branches and sales offices, with a smaller number of IT hardware leases. As permitted by the transitional provisions of IFRS 16, UBS AG elected to apply the modified retrospective approach and has not restated comparative figures. Overall, adoption of IFRS 16 resulted in a USD 3.4 billion increase in both total assets and total liabilities in UBS AG’s consolidated financial statements. The newly recognized right-of-use assets and finance lease receivables were fully allocated to the business divisions. There was no effect on equity. The measurement of leases previously classified as finance leases where UBS AG acts as a lessee has not changed on transition to IFRS 16. Similarly, UBS AG has made no adjustments where UBS AG acts as a lessor, in either a finance or operating lease, of physical assets it owns. Where UBS AG acts as an intermediate lessor, i.e., where UBS AG enters into a head lease and sub-leases the asset to a third party, the sub-lease has been classified as either a finance or operating lease based primarily on whether the sub-lease term consumes the majority of the remaining useful life of the RoU asset arising from the head lease as of the transition date. Lease liabilities are presented within Other financial liabilities measured at amortized cost and RoU assets within Property, equipment and software. Finance lease receivables are included within Other financial assets measured at amortized cost. Due to the practical expedients taken on transition, there was no effect on equity. | ||
Explanation Of Difference Between Operating Lease Commitments Disclosed Applying IAS 17 And Lease Liabilities Recognised At Date Of Initial Application Of IFRS 16 Explanatory | IFRS 16 introduces a single lessee accounting model and fundamentally changes how UBS AG accounts for operating leases when acting as a le ssee, with a requirement to record a right-of-use (RoU) asset and lease liability on the balance sheet. UBS AG is a lessee in a number of leases, primarily of real estate, including offices, retail branches and sales offices, with a smaller number of IT ha rdware leases. As permitted by the transitional provisions of IFRS 16, UBS AG elected to apply the modified retrospective approach and has not restated comparative figures. Overall, adoption of IFRS 16 resulted in a USD 3.4 billion increase in both total a ssets and total liabilities in UBS AG ’s consolidated financial statements . The newly recognized right-of-use assets and finance lease receivables were fully allocated to the business divisions. There was no effect on equity. | ||
Statement That Lessee Uses Practical Expedients When Applying IFRS 16 Retrospectively To Leases Classified As Operating Leases Applying IAS 17 | UBS AG applied the following practical expedients that are permitted on transition to IFRS 16 where UBS AG is a lessee in a lease previously classified as an operating lease: to not reassess whether or not a contract contained a lease; to rely on previous assessments of whether such contracts were considered onerous; to rely on previous sale-and-leaseback assessments; to adjust lease terms with the benefit of hindsight with respect to whether extension or termination options are reasonably certain of being exercised; to discount lease liabilities using the UBS AG’s incremental borrowing rate in each currency as of 1 January 2019; to initially measure the RoU asset at an amount equal to the lease liability for leases previously classified as operating leases, adjusted for existing lease balances, such as rent prepayments, rent accruals, lease incentives and onerous lease provisions, but excluding initial direct costs; and to not apply IFRS 16 to leases the remaining term of which will end within 12 months from the transition date. | ||
Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 | $ 3,400 | ||
Increase in total liabilities due to adoption of IFRS 16 | $ 3,400 | ||
Weighted average lease term | yr | 9 | ||
Depreciation charge for right-of-use assets | $ 463 | ||
Interest expense on lease liabilities | 118 | ||
Approximate net decrease to profit before tax resulting from the application of IFRS 16 | 60 | ||
Decrease in occupancy expenses | $ 510 | ||
UBS AG | Adoption of IFRIC 23 | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | Effective from 1 January 2019, UBS AG adopted 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. | ||
Net tax expense recognized in retained earnings | $ 11 | ||
UBS AG | Amendments to IAS 19, Employee benefits | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | Effective from 1 January 2019, UBS AG adopted 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 reporting period after such an event. The amendments also clarify how the accounting requirements for a plan amendment, curtailment or settlement affect the asset ceiling requirements. The amendments are effective prospectively for plan amendments, curtailments or settlements that occur on or after 1 January 2019. | ||
UBS AG | Annual Improvements To IFRSs 2015 to 2017 Cycle [Member] | |||
Changes In Accounting Policies [Line Items] | |||
Description of nature of change in accounting policy | Effective from 1 January 2019, UBS AG adopted 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. | ||
[1] | Total liabilities increased by the same amount upon adoption of IFRS 16. | ||
[2] | Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | ||
[3] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | ||
[4] | Relates to lease liabilities recognized upon adoption of IFRS 16 on 1 January 2019. Refer to Note 1b for more information. | ||
[5] | Total liabilities increased by the same amount upon adoption of IFRS 16. | ||
[6] | Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | ||
[7] | Effective 1 January 2019, UBS AG refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | ||
[8] | Relates to lease liabilities recognized upon adoption of IFRS 16 on 1 January 2019. Refer to Note 1b for more information. |
Reconciliation between operatin
Reconciliation between operating lease commitments disclosed under IAS 17 and lease liabilities recognized under IFRS 16 (Detail) - USD ($) $ in Millions | Jan. 01, 2019 | Dec. 31, 2019 | |
Disclosure Of Reconciliation Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
Total undiscounted operating lease commitments as of 31 December 2018 | $ 4,688 | ||
Leases with a remaining term of less than one year as of 1 January 2019 | (18) | ||
Excluded service components | (296) | ||
Reassessment of lease term for extension or termination options | 403 | ||
Total undiscounted lease payments | 4,777 | ||
Discounted at a weighted average incremental borrowing rate of 3.07% | (744) | ||
IFRS 16 transition adjustment | 4,033 | ||
Finance lease liabilities as of 31 December 2018 | 24 | ||
Carrying amount of total lease liabilities as of 1 January 2019 | $ 4,057 | $ 3,943 | [1] |
Average incremental borrowing rate | 3.07% | ||
UBS AG | |||
Disclosure Of Reconciliation Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
Total undiscounted operating lease commitments as of 31 December 2018 | $ 4,546 | ||
Leases with a remaining term of less than one year as of 1 January 2019 | (18) | ||
Excluded service components | (296) | ||
Reassessment of lease term for extension or termination options | 424 | ||
Total undiscounted lease payments | 4,657 | ||
Discounted at a weighted average incremental borrowing rate of 3.07% | (720) | ||
IFRS 16 transition adjustment | 3,937 | ||
Finance lease liabilities as of 31 December 2018 | 19 | ||
Carrying amount of total lease liabilities as of 1 January 2019 | $ 3,956 | $ 3,858 | [2] |
Average incremental borrowing rate | 3.07% | ||
[1] | Relates to the adoption of IFRS 16 on 1 January 2019. Refer to Note 1 for more information. | ||
[2] | Relates to the adoption of IFRS 16 on 1 January 2019. Refer to Note 1 for more information. |
Determination of right-of-use a
Determination of right-of-use assets on transition (Detail) - USD ($) $ in Millions | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Quantitative Information About Rightofuse Assets [LineItems] | ||||
Recognition of gross RoU assets upon adoption of IFRS 16 (IFRS 16 transition adjustment) | $ 4,033 | |||
Offset by liabilities recognized as of 31 December 2018 | (521) | |||
of which: Other non-financial liabilities (lease incentives) | (204) | |||
of which: Other financial liabilities at amortized cost (rent accruals) | (185) | |||
of which: Provisions (onerous lease provisions) | (132) | $ 132 | $ 0 | |
Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 | [1] | 3,512 | ||
Reclassification of assets recognized as of 31 December 2018 as an addition to RoU assets | 43 | |||
of which: Other financial assets measured at amortized cost (finance lease assets recognized under IAS 17 as of 31 December 2018) | 24 | |||
of which: Other non-financial assets (prepaid rent) | 19 | |||
Reclassification of finance lease receivables from subleases to Other financial assets measured at amortized cost resulting in a reduction of RoU assets | (176) | |||
Total right-of-use assets as of 1 January 2019 presented within Property, equipment and software | 3,378 | |||
Increase in total liabilities due to adoption of IFRS 16 | 3,512 | |||
UBS AG | ||||
Disclosure Of Quantitative Information About Rightofuse Assets [LineItems] | ||||
Recognition of gross RoU assets upon adoption of IFRS 16 (IFRS 16 transition adjustment) | 3,937 | |||
Offset by liabilities recognized as of 31 December 2018 | (515) | |||
of which: Other non-financial liabilities (lease incentives) | (204) | |||
of which: Other financial liabilities at amortized cost (rent accruals) | (180) | |||
of which: Provisions (onerous lease provisions) | (131) | $ 131 | $ 0 | |
Increase in total assets resulting from the adoption of IFRS 16 on 1 January 2019 | [2] | 3,422 | ||
Reclassification of assets recognized as of 31 December 2018 as an addition to RoU assets | 38 | |||
of which: Other financial assets measured at amortized cost (finance lease assets recognized under IAS 17 as of 31 December 2018) | 19 | |||
of which: Other non-financial assets (prepaid rent) | 19 | |||
Reclassification of finance lease receivables from subleases to Other financial assets measured at amortized cost resulting in a reduction of RoU assets | (176) | |||
Total right-of-use assets as of 1 January 2019 presented within Property, equipment and software | 3,284 | |||
Increase in total liabilities due to adoption of IFRS 16 | $ 3,422 | |||
[1] | Total liabilities increased by the same amount upon adoption of IFRS 16. | |||
[2] | Total liabilities increased by the same amount upon adoption of IFRS 16. |
Changes to the presentation of
Changes to the presentation of dividend income and expense (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Changes To Presentation Of Dividend Income Expense [Line Items] | ||
Interest income from financial instruments measured at fair value through profit or loss | $ (2,308) | $ (1,762) |
Interest expense from financial instruments measured at fair value through profit or loss | 1,331 | 1,190 |
Net interest income | (976) | (572) |
Other net income from financial instruments measured at fair value through profit or loss | 976 | 572 |
UBS AG | ||
Disclosure Of Changes To Presentation Of Dividend Income Expense [Line Items] | ||
Interest income from financial instruments measured at fair value through profit or loss | (2,308) | (1,762) |
Interest expense from financial instruments measured at fair value through profit or loss | 1,331 | 1,190 |
Net interest income | (976) | (572) |
Other net income from financial instruments measured at fair value through profit or loss | $ 976 | $ 572 |
IFRSs and interpretations to be
IFRSs and interpretations to be adopted and other adjustments (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Adoption of Hedge Accounting Requirements of IFRS 9, Financial instruments | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2020 |
Conceptual Framework | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2020 |
Amendments to IFRS 3, Business Combinations | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2020 |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2020 |
IFRS 17, Insurance Contracts | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2021 |
UBS AG | Adoption of Hedge Accounting Requirements of IFRS 9, Financial instruments | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2020 |
UBS AG | Conceptual Framework | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2020 |
UBS AG | Amendments to IFRS 3, Business Combinations | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2020 |
Date as at which UBS plans to adopt new IFRS | Jan. 1, 2020 |
UBS AG | IFRS 17, Insurance Contracts | |
Description of Expected Impact of Initial Application of New Standards or Interpretations [Line Items] | |
Date by which application of new IFRS is required | Jan. 1, 2021 |
Conditional share capital (Narr
Conditional share capital (Narrative) (Detail) | Dec. 31, 2019CHF (SFr)shares |
Conditional Share Capital [Line Items] | |
Additional shares that could have been issued to fund UBS's employee share option programs | 121,705,830 |
Value of available shares to fund UBS employee share option programs | SFr | SFr 12,170,583 |
Additional conditional capital available for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments | 380,000,000 |
Value of additional conditional capital available for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments | SFr | SFr 38,000,000 |
Authorized capital available to issue | 0 |
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 |
Value of additional conditional capital available for conversion rights and warrants granted in connection with the issuance of bonds or similar financial instruments | SFr | SFr 38,000,000 |
Authorized capital available to issue | 0 |
Share repurchase program (Narra
Share repurchase program (Narrative) (Detail) shares in Millions, $ in Millions, SFr in Billions | 12 Months Ended | |||
Dec. 31, 2019CHF (SFr)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018CHF (SFr)shares | Dec. 31, 2018USD ($)shares | |
Share Repurchse Program [Line Items] | ||||
Shares aquired as part of the share repurchase program | shares | 69 | 69 | 48 | 48 |
Amount invested to aquired own registered shares as part of the share repurchase program | $ | $ 806 | $ 762 | ||
2018-2021 | ||||
Share Repurchse Program [Line Items] | ||||
Maximum amount intended for the purchase of own registered shares as part of the share repurchase program | SFr | SFr 2 | SFr 2 |
Segment reporting (Narrative) (
Segment reporting (Narrative) (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | ||
Disclosure Of Operating Segments [Line Items] | ||||
Number of business divisions | 4 | |||
Operating profit / (loss) before tax | [1] | $ 5,577 | $ 5,991 | $ 5,351 |
Total assets | [1] | 972,183 | 958,489 | 939,279 |
Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | 0 | 0 | ||
Total assets | 0 | 0 | ||
Global Wealth Management | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 3,397 | 3,254 | 3,219 |
Total assets | [1] | 309,766 | 313,737 | 297,631 |
Global Wealth Management | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (374) | (351) | ||
Total assets | 113,702 | 102,641 | ||
Personal & Corporate Banking | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 1,441 | 1,796 | 1,475 |
Total assets | [1] | $ 209,405 | 200,703 | 197,258 |
Personal & Corporate Banking | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (116) | (133) | ||
Total assets | 61,894 | 58,196 | ||
Asset Management | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Number of countries of which the business division has onshore presence | 22 | |||
Number of geographical regions of which the business division has onshore presence | 4 | |||
Operating profit / (loss) before tax | [1] | $ 532 | 426 | 563 |
Total assets | [1] | $ 34,565 | 28,140 | 17,968 |
Asset Management | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (25) | (24) | ||
Total assets | 3,769 | 3,329 | ||
Investment Bank | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Number of countries of which the business division has onshore presence | 30 | |||
Operating profit / (loss) before tax | [1] | $ 784 | 1,486 | 1,087 |
Total assets | [1] | 315,855 | 302,253 | 311,359 |
Investment Bank | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (163) | (180) | ||
Total assets | 43,562 | 41,628 | ||
Corporate Center | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | (577) | (971) | (993) |
Total assets | [1] | $ 102,592 | 113,656 | 115,064 |
Corporate Center | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | 677 | 689 | ||
Total assets | (222,927) | (205,795) | ||
UBS AG | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Number of business divisions | 4 | |||
Operating profit / (loss) before tax | [1] | $ 5,169 | 5,458 | 5,076 |
Total assets | [1] | 971,916 | 958,055 | 940,020 |
UBS AG | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | 0 | 0 | ||
Total assets | 0 | 0 | ||
UBS AG | Global Wealth Management | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 3,335 | 3,212 | 3,171 |
Total assets | [1] | 309,766 | 313,737 | 297,631 |
UBS AG | Global Wealth Management | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (374) | (351) | ||
Total assets | 113,702 | 102,641 | ||
UBS AG | Personal & Corporate Banking | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 1,443 | 1,799 | 1,476 |
Total assets | [1] | $ 209,512 | 200,767 | 197,290 |
UBS AG | Personal & Corporate Banking | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (116) | (133) | ||
Total assets | 61,894 | 58,196 | ||
UBS AG | Asset Management | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Number of countries of which the business division has onshore presence | 22 | |||
Number of geographical regions of which the business division has onshore presence | 4 | |||
Operating profit / (loss) before tax | [1] | $ 531 | 425 | 562 |
Total assets | [1] | $ 34,565 | 28,140 | 17,968 |
UBS AG | Asset Management | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (25) | (24) | ||
Total assets | 3,769 | 3,329 | ||
UBS AG | Investment Bank | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Number of countries of which the business division has onshore presence | 30 | |||
Operating profit / (loss) before tax | [1] | $ 753 | 1,442 | 1,036 |
Total assets | [1] | 316,058 | 302,434 | 311,477 |
UBS AG | Investment Bank | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (163) | (180) | ||
Total assets | 43,562 | 41,628 | ||
UBS AG | Corporate Center | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | (893) | (1,419) | (1,169) |
Total assets | [1] | $ 102,017 | 112,977 | 115,654 |
UBS AG | Corporate Center | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | 677 | 689 | ||
Total assets | $ (222,927) | $ (205,795) | ||
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b |
Segment reporting (Detail 1)
Segment reporting (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | $ 5,577 | $ 5,991 | $ 5,351 |
Total assets | [1] | 972,183 | 958,489 | 939,279 |
Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | 0 | 0 | ||
Total assets | 0 | 0 | ||
Global Wealth Management | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 3,397 | 3,254 | 3,219 |
Total assets | [1] | 309,766 | 313,737 | 297,631 |
Global Wealth Management | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (374) | (351) | ||
Total assets | 113,702 | 102,641 | ||
Personal & Corporate Banking | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 1,441 | 1,796 | 1,475 |
Total assets | [1] | 209,405 | 200,703 | 197,258 |
Personal & Corporate Banking | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (116) | (133) | ||
Total assets | 61,894 | 58,196 | ||
Asset Management | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 532 | 426 | 563 |
Total assets | [1] | 34,565 | 28,140 | 17,968 |
Asset Management | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (25) | (24) | ||
Total assets | 3,769 | 3,329 | ||
Investment Bank | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 784 | 1,486 | 1,087 |
Total assets | [1] | 315,855 | 302,253 | 311,359 |
Investment Bank | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (163) | (180) | ||
Total assets | 43,562 | 41,628 | ||
Corporate Center | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | (577) | (971) | (993) |
Total assets | [1] | 102,592 | 113,656 | 115,064 |
Corporate Center | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | 677 | 689 | ||
Total assets | (222,927) | (205,795) | ||
UBS AG | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 5,169 | 5,458 | 5,076 |
Total assets | [1] | 971,916 | 958,055 | 940,020 |
UBS AG | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | 0 | 0 | ||
Total assets | 0 | 0 | ||
UBS AG | Global Wealth Management | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 3,335 | 3,212 | 3,171 |
Total assets | [1] | 309,766 | 313,737 | 297,631 |
UBS AG | Global Wealth Management | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (374) | (351) | ||
Total assets | 113,702 | 102,641 | ||
UBS AG | Personal & Corporate Banking | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 1,443 | 1,799 | 1,476 |
Total assets | [1] | 209,512 | 200,767 | 197,290 |
UBS AG | Personal & Corporate Banking | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (116) | (133) | ||
Total assets | 61,894 | 58,196 | ||
UBS AG | Asset Management | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 531 | 425 | 562 |
Total assets | [1] | 34,565 | 28,140 | 17,968 |
UBS AG | Asset Management | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (25) | (24) | ||
Total assets | 3,769 | 3,329 | ||
UBS AG | Investment Bank | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 753 | 1,442 | 1,036 |
Total assets | [1] | 316,058 | 302,434 | 311,477 |
UBS AG | Investment Bank | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | (163) | (180) | ||
Total assets | 43,562 | 41,628 | ||
UBS AG | Corporate Center | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | [1] | (893) | (1,419) | (1,169) |
Total assets | [1] | $ 102,017 | 112,977 | 115,654 |
UBS AG | Corporate Center | Increase (decrease) due to changes in Corporate Center cost and resource allocation to business divisions | ||||
Disclosure Of Operating Segments [Line Items] | ||||
Operating profit / (loss) before tax | 677 | 689 | ||
Total assets | $ (222,927) | $ (205,795) | ||
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b |
Segment reporting (Detail 2)
Segment reporting (Detail 2) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[2],[3],[4] | $ 4,501 | $ 5,048 | $ 6,070 | |||
Non-interest income | [1],[4] | 24,467 | 25,283 | 23,683 | |||
Income | [1] | 28,967 | 30,330 | 29,754 | [5] | ||
Credit loss (expense) / recovery | [1] | (78) | (118) | (131) | |||
Total operating income | [1] | 28,889 | 30,213 | 29,622 | |||
Personnel expenses | [1] | 16,084 | 16,132 | 16,199 | |||
General and administrative expenses | [1] | 5,288 | 6,797 | 6,949 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 0 | 0 | 0 | |||
of which: services from Corporate Center | [1] | 0 | 0 | 0 | |||
Depreciation and impairment of property, equipment and software | [1] | 1,765 | 1,228 | 1,053 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 175 | 65 | 71 | |||
Total operating expenses | [1] | 23,312 | 24,222 | 24,272 | |||
Operating profit / (loss) before tax | [1] | 5,577 | 5,991 | 5,351 | |||
Tax expense / (benefit) | [1] | 1,267 | 1,468 | 4,305 | |||
Net profit / (loss) | [1] | 4,310 | 4,522 | 1,046 | |||
Additional information | |||||||
Total assets | [1] | 972,183 | 958,489 | 939,279 | |||
Additions to non-current assets | [1] | 5,297 | [6] | 1,975 | 1,746 | ||
Newly recognized assets upon adoption of IFRS 16 that were allocated to business divisions | 3,500 | ||||||
Non-current assets included in newly recognized assets upon adoption of IFRS 16 that were allocated to business divisions | 3,400 | ||||||
Impairment of financial assets measured at fair value through other comprehensive income | 0 | 0 | 15 | ||||
Global Wealth Management | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[4] | 3,947 | 4,101 | 3,880 | |||
Non-interest income | [1],[4] | 12,426 | 12,700 | 12,265 | |||
Income | [1] | 16,373 | 16,800 | 16,144 | [5] | ||
Credit loss (expense) / recovery | [1] | (20) | (15) | (8) | |||
Total operating income | [1] | 16,353 | 16,785 | 16,136 | |||
Personnel expenses | [1] | 7,621 | 7,683 | 7,674 | |||
General and administrative expenses | [1] | 1,217 | 1,724 | 1,263 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 4,056 | 4,070 | 3,926 | |||
of which: services from Corporate Center | [1] | 3,922 | 3,936 | 3,803 | |||
Depreciation and impairment of property, equipment and software | [1] | 5 | 4 | 4 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 56 | 50 | 49 | |||
Total operating expenses | [1] | 12,955 | 13,531 | 12,917 | |||
Operating profit / (loss) before tax | [1] | 3,397 | 3,254 | 3,219 | |||
Additional information | |||||||
Total assets | [1] | 309,766 | 313,737 | 297,631 | |||
Additions to non-current assets | [1] | 68 | [6] | 196 | 120 | ||
Personal & Corporate Banking | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[4] | 1,992 | 2,049 | 2,044 | |||
Non-interest income | [1],[4] | 1,744 | 2,168 | 1,814 | |||
Income | [1] | 3,736 | 4,217 | 3,859 | [5] | ||
Credit loss (expense) / recovery | [1] | (21) | (56) | (20) | |||
Total operating income | [1] | 3,715 | 4,161 | 3,839 | |||
Personnel expenses | [1] | 856 | 803 | 852 | |||
General and administrative expenses | [1] | 224 | 285 | 296 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 1,181 | 1,263 | 1,203 | |||
of which: services from Corporate Center | [1] | 1,294 | 1,367 | 1,321 | |||
Depreciation and impairment of property, equipment and software | [1] | 13 | 14 | 13 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 0 | 0 | 0 | |||
Total operating expenses | [1] | 2,274 | 2,365 | 2,364 | |||
Operating profit / (loss) before tax | [1] | 1,441 | 1,796 | 1,475 | |||
Additional information | |||||||
Total assets | [1] | 209,405 | 200,703 | 197,258 | |||
Additions to non-current assets | [1] | 10 | [6] | 23 | 15 | ||
Asset Management | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[4] | (25) | (29) | (23) | |||
Non-interest income | [1],[4] | 1,962 | 1,881 | 2,100 | |||
Income | [1] | 1,938 | 1,852 | 2,077 | [5] | ||
Credit loss (expense) / recovery | [1] | 0 | 0 | 0 | |||
Total operating income | [1] | 1,938 | 1,852 | 2,077 | |||
Personnel expenses | [1] | 722 | 703 | 731 | |||
General and administrative expenses | [1] | 197 | 202 | 235 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 486 | 518 | 543 | |||
of which: services from Corporate Center | [1] | 531 | 563 | 582 | |||
Depreciation and impairment of property, equipment and software | [1] | 1 | 2 | 1 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 0 | 1 | 3 | |||
Total operating expenses | [1] | 1,406 | 1,426 | 1,514 | |||
Operating profit / (loss) before tax | [1] | 532 | 426 | 563 | |||
Additional information | |||||||
Total assets | [1] | 34,565 | 28,140 | 17,968 | |||
Additions to non-current assets | [1] | 0 | [6] | 1 | 1 | ||
Impairment of financial assets measured at fair value through other comprehensive income | 12 | ||||||
Investment Bank | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[4] | (669) | (459) | 234 | |||
Non-interest income | [1],[4] | 7,968 | 8,538 | 7,508 | |||
Income | [1] | 7,299 | 8,079 | 7,742 | [5] | ||
Credit loss (expense) / recovery | [1] | (30) | (38) | (92) | |||
Total operating income | [1] | 7,269 | 8,041 | 7,650 | |||
Personnel expenses | [1] | 2,748 | 2,941 | 3,006 | |||
General and administrative expenses | [1] | 688 | 651 | 675 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 2,926 | 2,942 | 2,860 | |||
of which: services from Corporate Center | [1] | 2,980 | 2,995 | 2,894 | |||
Depreciation and impairment of property, equipment and software | [1] | 8 | 8 | 10 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 115 | 12 | 12 | |||
Total operating expenses | [1] | 6,485 | 6,554 | 6,563 | |||
Operating profit / (loss) before tax | [1] | 784 | 1,486 | 1,087 | |||
Additional information | |||||||
Total assets | [1] | 315,855 | 302,253 | 311,359 | |||
Additions to non-current assets | [1] | 1 | [6] | 89 | 3 | ||
Corporate Center | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[4] | (744) | (613) | (64) | |||
Non-interest income | [1],[4] | 367 | (4) | (4) | |||
Income | [1] | (378) | (617) | (68) | [5] | ||
Credit loss (expense) / recovery | [1] | (7) | (8) | (11) | |||
Total operating income | [1] | (385) | (626) | (80) | |||
Personnel expenses | [1] | 4,137 | 4,002 | 3,935 | |||
General and administrative expenses | [1] | 2,962 | 3,935 | 4,479 | |||
Services (to) / from Corporate Center and other business divisions | [1] | (8,648) | (8,793) | (8,532) | |||
of which: services from Corporate Center | [1] | (8,727) | (8,861) | (8,601) | |||
Depreciation and impairment of property, equipment and software | [1] | 1,738 | 1,199 | 1,024 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 4 | 2 | 7 | |||
Total operating expenses | [1] | 192 | 346 | 913 | |||
Operating profit / (loss) before tax | [1] | (577) | (971) | (993) | |||
Additional information | |||||||
Total assets | [1] | 102,592 | 113,656 | 115,064 | |||
Additions to non-current assets | [1] | 5,217 | [6] | 1,666 | 1,607 | ||
UBS AG | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[7],[8],[9],[10] | 4,415 | 4,971 | 6,021 | |||
Non-interest income | [1],[10] | 24,970 | 25,788 | 24,155 | |||
Income | [1] | 29,385 | 30,759 | 30,176 | [5] | ||
Credit loss (expense) / recovery | [1],[9] | (78) | (117) | (131) | |||
Total operating income | [1],[9] | 29,307 | 30,642 | 30,044 | |||
Personnel expenses | [1] | 13,801 | 13,992 | 14,952 | |||
General and administrative expenses | [1] | 8,586 | 10,075 | 9,001 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 0 | 0 | 0 | |||
of which: services from Corporate Center | [1] | 0 | 0 | 0 | |||
Depreciation and impairment of property, equipment and software | [1] | 1,576 | 1,052 | 945 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 175 | 65 | 71 | |||
Total operating expenses | [1] | 24,138 | 25,184 | 24,969 | |||
Operating profit / (loss) before tax | [1] | 5,169 | 5,458 | 5,076 | |||
Tax expense / (benefit) | [1] | 1,198 | 1,345 | 4,242 | |||
Net profit / (loss) | [1] | 3,971 | 4,113 | 834 | |||
Additional information | |||||||
Total assets | [1] | 971,916 | 958,055 | 940,020 | |||
Additions to non-current assets | [1] | 5,014 | [11] | 1,757 | 1,648 | ||
Newly recognized assets upon adoption of IFRS 16 that were allocated to business divisions | 3,400 | ||||||
Non-current assets included in newly recognized assets upon adoption of IFRS 16 that were allocated to business divisions | 3,300 | ||||||
Impairment of financial assets measured at fair value through other comprehensive income | 0 | 0 | 15 | ||||
UBS AG | Global Wealth Management | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[10] | 3,947 | 4,101 | 3,880 | |||
Non-interest income | [1],[10] | 12,426 | 12,700 | 12,265 | |||
Income | [1] | 16,373 | 16,801 | 16,145 | [5] | ||
Credit loss (expense) / recovery | [1] | (20) | (15) | (8) | |||
Total operating income | [1] | 16,353 | 16,786 | 16,137 | |||
Personnel expenses | [1] | 7,618 | 7,680 | 7,679 | |||
General and administrative expenses | [1] | 1,283 | 1,771 | 1,308 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 4,055 | 4,069 | 3,926 | |||
of which: services from Corporate Center | [1] | 3,922 | 3,935 | 3,803 | |||
Depreciation and impairment of property, equipment and software | [1] | 5 | 4 | 4 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 56 | 50 | 49 | |||
Total operating expenses | [1] | 13,018 | 13,574 | 12,966 | |||
Operating profit / (loss) before tax | [1] | 3,335 | 3,212 | 3,171 | |||
Additional information | |||||||
Total assets | [1] | 309,766 | 313,737 | 297,631 | |||
Additions to non-current assets | [1] | 68 | [11] | 196 | 120 | ||
UBS AG | Personal & Corporate Banking | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[10] | 1,993 | 2,049 | 2,044 | |||
Non-interest income | [1],[10] | 1,745 | 2,169 | 1,815 | |||
Income | [1] | 3,737 | 4,218 | 3,859 | [5] | ||
Credit loss (expense) / recovery | [1] | (21) | (56) | (20) | |||
Total operating income | [1] | 3,717 | 4,162 | 3,839 | |||
Personnel expenses | [1] | 852 | 799 | 849 | |||
General and administrative expenses | [1] | 229 | 289 | 300 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 1,179 | 1,261 | 1,200 | |||
of which: services from Corporate Center | [1] | 1,293 | 1,365 | 1,318 | |||
Depreciation and impairment of property, equipment and software | [1] | 13 | 14 | 13 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 0 | 0 | 0 | |||
Total operating expenses | [1] | 2,274 | 2,363 | 2,363 | |||
Operating profit / (loss) before tax | [1] | 1,443 | 1,799 | 1,476 | |||
Additional information | |||||||
Total assets | [1] | 209,512 | 200,767 | 197,290 | |||
Additions to non-current assets | [1] | 10 | [11] | 23 | 15 | ||
UBS AG | Asset Management | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[10] | (25) | (29) | (23) | |||
Non-interest income | [1],[10] | 1,962 | 1,881 | 2,100 | |||
Income | [1] | 1,938 | 1,852 | 2,077 | [5] | ||
Credit loss (expense) / recovery | [1] | 0 | 0 | 0 | |||
Total operating income | [1] | 1,938 | 1,852 | 2,077 | |||
Personnel expenses | [1] | 720 | 702 | 731 | |||
General and administrative expenses | [1] | 201 | 206 | 238 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 485 | 516 | 541 | |||
of which: services from Corporate Center | [1] | 530 | 561 | 580 | |||
Depreciation and impairment of property, equipment and software | [1] | 1 | 2 | 1 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 0 | 1 | 3 | |||
Total operating expenses | [1] | 1,407 | 1,427 | 1,515 | |||
Operating profit / (loss) before tax | [1] | 531 | 425 | 562 | |||
Additional information | |||||||
Total assets | [1] | 34,565 | 28,140 | 17,968 | |||
Additions to non-current assets | [1] | 0 | [11] | 1 | 1 | ||
Impairment of financial assets measured at fair value through other comprehensive income | 12 | ||||||
UBS AG | Investment Bank | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[10] | (669) | (459) | 234 | |||
Non-interest income | [1],[10] | 7,967 | 8,539 | 7,508 | |||
Income | [1] | 7,298 | 8,080 | 7,742 | [5] | ||
Credit loss (expense) / recovery | [1] | (30) | (38) | (92) | |||
Total operating income | [1] | 7,268 | 8,042 | 7,651 | |||
Personnel expenses | [1] | 2,732 | 2,936 | 3,007 | |||
General and administrative expenses | [1] | 738 | 706 | 728 | |||
Services (to) / from Corporate Center and other business divisions | [1] | 2,922 | 2,938 | 2,858 | |||
of which: services from Corporate Center | [1] | 2,976 | 2,991 | 2,892 | |||
Depreciation and impairment of property, equipment and software | [1] | 8 | 8 | 10 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 115 | 12 | 12 | |||
Total operating expenses | [1] | 6,515 | 6,600 | 6,614 | |||
Operating profit / (loss) before tax | [1] | 753 | 1,442 | 1,036 | |||
Additional information | |||||||
Total assets | [1] | 316,058 | 302,434 | 311,477 | |||
Additions to non-current assets | [1] | 1 | [11] | 89 | 3 | ||
UBS AG | Corporate Center | |||||||
Disclosure Of Operating Segments [Line Items] | |||||||
Net interest income | [1],[10] | (831) | (690) | (114) | |||
Non-interest income | [1],[10] | 869 | 499 | 466 | |||
Income | [1] | 38 | (191) | 352 | [5] | ||
Credit loss (expense) / recovery | [1] | 7 | 8 | 11 | |||
Total operating income | [1] | 31 | (199) | 341 | |||
Personnel expenses | [1] | 1,879 | 1,875 | 2,686 | |||
General and administrative expenses | [1] | 6,135 | 7,104 | 6,426 | |||
Services (to) / from Corporate Center and other business divisions | [1] | (8,642) | (8,784) | (8,525) | |||
of which: services from Corporate Center | [1] | (8,721) | (8,852) | (8,593) | |||
Depreciation and impairment of property, equipment and software | [1] | 1,549 | 1,023 | 916 | |||
Amortization and impairment of goodwill and intangible assets | [1] | 4 | 2 | 7 | |||
Total operating expenses | [1] | 925 | 1,220 | 1,510 | |||
Operating profit / (loss) before tax | [1] | (893) | (1,419) | (1,169) | |||
Additional information | |||||||
Total assets | [1] | 102,017 | 112,977 | 115,654 | |||
Additions to non-current assets | [1] | $ 5,014 | [11] | $ 1,449 | [12] | $ 1,509 | |
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | ||||||
[2] | Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | ||||||
[3] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | ||||||
[4] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. | ||||||
[5] | Includes 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 of USD 15 million, of which USD 12 million was recorded in Asset Management. | ||||||
[6] | Upon adoption of IFRS 16 on 1 January 2019, UBS additionally allocated approximately USD 3.5 billion of newly recognized assets to the business divisions, of which USD 3.4 billion related to non-current assets. Refer to Note 1b for more information. | ||||||
[7] | Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | ||||||
[8] | Effective 1 January 2019, UBS AG refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | ||||||
[9] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | ||||||
[10] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. | ||||||
[11] | Upon adoption of IFRS 16 on 1 January 2019, UBS AG additionally allocated approximately USD 3.4 billion of newly recognized assets to the business divisions, of which USD 3.3 billion related to non-current assets. Refer to Note 1b for more information. | ||||||
[12] | Reflects the payment of an ordinary cash dividend of CHF 0.70 (2018: CHF 0.65; 2017: CHF 0.60) per dividend-bearing share out of the capital contribution reserve. |
Segment reporting by geograph_2
Segment reporting by geographic location (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | [1] | $ 28,889 | $ 30,213 | $ 29,622 | ||
Total non-current assets | $ 20,300 | $ 17,100 | [1] | $ 16,700 | [1] | |
Total operating income (Share %) | 100.00% | 100.00% | [1] | 100.00% | [1] | |
Total non-current assets (Share %) | 100.00% | 100.00% | [1] | 100.00% | [1] | |
Americas | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 12,000 | $ 12,600 | [1] | $ 12,000 | [1] | |
Total non-current assets | $ 8,900 | $ 7,400 | [1] | $ 7,400 | [1] | |
Total operating income (Share %) | 42.00% | 42.00% | [1] | 41.00% | [1] | |
Total non-current assets (Share %) | 44.00% | 43.00% | [1] | 44.00% | [1] | |
of which: USA | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 10,900 | $ 11,500 | [1] | $ 11,200 | [1] | |
Total non-current assets | $ 8,500 | $ 7,000 | [1] | $ 6,900 | [1] | |
Total operating income (Share %) | 38.00% | 38.00% | [1] | 38.00% | [1] | |
Total non-current assets (Share %) | 42.00% | 41.00% | [1] | 41.00% | [1] | |
Asia Pacific | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 4,700 | $ 4,900 | [1] | $ 4,800 | [1] | |
Total non-current assets | $ 1,400 | $ 900 | [1] | $ 800 | [1] | |
Total operating income (Share %) | 16.00% | 16.00% | [1] | 16.00% | [1] | |
Total non-current assets (Share %) | 7.00% | 5.00% | [1] | 5.00% | [1] | |
Europe, Middle East and Africa (excluding Switzerland) | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 5,800 | $ 6,200 | [1] | $ 6,100 | [1] | |
Total non-current assets | $ 3,000 | $ 2,000 | [1] | $ 2,000 | [1] | |
Total operating income (Share %) | 20.00% | 21.00% | [1] | 21.00% | [1] | |
Total non-current assets (Share %) | 15.00% | 12.00% | [1] | 12.00% | [1] | |
Switzerland | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 6,700 | $ 7,200 | [1] | $ 6,900 | [1] | |
Total non-current assets | $ 7,100 | $ 6,800 | [1] | $ 6,500 | [1] | |
Total operating income (Share %) | 23.00% | 24.00% | [1] | 23.00% | [1] | |
Total non-current assets (Share %) | 35.00% | 40.00% | [1] | 40.00% | [1] | |
Global | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ (400) | $ (700) | [1] | $ (200) | [1] | |
Total non-current assets | $ 0 | $ 0 | [1] | $ 0 | [1] | |
Total operating income (Share %) | (1.00%) | (2.00%) | [1] | (1.00%) | [1] | |
Total non-current assets (Share %) | 0.00% | 0.00% | [1] | 0.00% | [1] | |
UBS AG | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | [1],[2] | $ 29,307 | $ 30,642 | $ 30,044 | ||
Total non-current assets | $ 19,300 | $ 16,200 | [1] | $ 15,800 | [1] | |
Total operating income (Share %) | 100.00% | 100.00% | [1] | 100.00% | [1] | |
Total non-current assets (Share %) | 100.00% | 100.00% | [1] | 100.00% | [1] | |
UBS AG | Americas | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 12,000 | $ 12,600 | [1] | $ 12,000 | [1] | |
Total non-current assets | $ 8,900 | $ 7,400 | [1] | $ 7,400 | [1] | |
Total operating income (Share %) | 41.00% | 41.00% | [1] | 40.00% | [1] | |
Total non-current assets (Share %) | 46.00% | 46.00% | [1] | 47.00% | [1] | |
UBS AG | of which: USA | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 10,900 | $ 11,500 | [1] | $ 11,200 | [1] | |
Total non-current assets | $ 8,500 | $ 7,000 | [1] | $ 6,900 | [1] | |
Total operating income (Share %) | 37.00% | 37.00% | [1] | 37.00% | [1] | |
Total non-current assets (Share %) | 44.00% | 43.00% | [1] | 44.00% | [1] | |
UBS AG | Asia Pacific | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 4,700 | $ 4,900 | [1] | $ 4,800 | [1] | |
Total non-current assets | $ 1,300 | $ 800 | [1] | $ 800 | [1] | |
Total operating income (Share %) | 16.00% | 16.00% | [1] | 16.00% | [1] | |
Total non-current assets (Share %) | 7.00% | 5.00% | [1] | 5.00% | [1] | |
UBS AG | Europe, Middle East and Africa (excluding Switzerland) | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 5,800 | $ 6,200 | [1] | $ 6,100 | [1] | |
Total non-current assets | $ 2,600 | $ 1,800 | [1] | $ 1,700 | [1] | |
Total operating income (Share %) | 20.00% | 20.00% | [1] | 20.00% | [1] | |
Total non-current assets (Share %) | 13.00% | 11.00% | [1] | 10.00% | [1] | |
UBS AG | Switzerland | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 6,700 | $ 7,200 | [1] | $ 6,900 | [1] | |
Total non-current assets | $ 6,500 | $ 6,200 | [1] | $ 6,000 | [1] | |
Total operating income (Share %) | 23.00% | 23.00% | [1] | 23.00% | [1] | |
Total non-current assets (Share %) | 34.00% | 38.00% | [1] | 38.00% | [1] | |
UBS AG | Global | ||||||
Disclosure Of Geographical Areas [Line Items] | ||||||
Total operating income | $ 0 | $ (300) | [1] | $ 200 | [1] | |
Total non-current assets | $ 0 | $ 0 | [1] | $ 0 | [1] | |
Total operating income (Share %) | 0.00% | (1.00%) | [1] | 1.00% | [1] | |
Total non-current assets (Share %) | 0.00% | 0.00% | [1] | 0.00% | [1] | |
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||||
[2] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
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] | $ 8,008 | $ 7,801 | $ 7,752 |
Interest income from securities financing transactions | [2],[3],[4] | 2,005 | 1,567 | 1,573 |
Interest income from other financial instruments measured at amortized cost | [2],[3] | 364 | 266 | 99 |
Interest income from debt instruments measured at fair value through other comprehensive income | [2],[3] | 120 | 142 | 152 |
Interest income from derivative instruments designated as cash flow hedges | [2],[3] | 188 | 324 | 846 |
Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [2],[3] | 10,684 | 10,100 | 10,422 |
Interest expense on loans and deposits | [2],[3],[5] | 2,634 | 1,980 | 1,404 |
Interest expense on securities financing transactions | [2],[3],[6] | 1,152 | 1,130 | 1,473 |
Interest expense on debt issued | [2],[3] | 3,285 | 3,281 | 2,528 |
Interest expense on lease liabilities | [2],[3],[7] | 122 | ||
Total interest expense from financial instruments measured at amortized cost | [2],[3] | 7,194 | 6,391 | 5,404 |
Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [2],[3] | 3,490 | 3,710 | 5,018 |
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income from financial instruments at fair value held for trading | [2],[3] | 1,214 | 1,105 | 1,374 |
Net interest income from brokerage balances | [2],[3] | 339 | 575 | |
Interest income from financial instruments at fair value not held for trading | [2],[3] | 2,274 | 1,757 | |
Other interest income | [2],[3] | 185 | 215 | 0 |
Interest expense on financial instruments designated at fair value | [2],[3] | (3,000) | (2,314) | (322) |
Total net interest income from financial instruments measured at fair value through profit or loss | [2],[3] | 1,011 | 1,338 | 1,052 |
Net interest income | [2],[3],[8],[9] | 4,501 | 5,048 | 6,070 |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Investment Bank Global Banking | 229 | 552 | 633 | |
Investment Bank Global Markets | 4,630 | 4,663 | 3,405 | |
Other business divisions and Corporate Center | 1,984 | 1,744 | 1,599 | |
Other net income from financial instruments measured at fair value through profit or loss | 6,842 | 6,960 | 5,637 | |
of which: net gains / (losses) from financial liabilities designated at fair value | [10] | (8,748) | 9,382 | (3,979) |
Total | [11] | 11,343 | 12,008 | 11,707 |
Net gains / (losses) on financial liabilities related to unit-linked investment contracts, which are designated at fair value through profit of loss | (1,830) | 2,152 | ||
Net gains / (losses) on financial assets for unit-linked investment contracts that are mandatorily measured at fair value through profit or loss not held for trading | 1,830 | (2,134) | ||
Global Wealth Management | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[9] | 3,947 | 4,101 | 3,880 |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 4,913 | 5,049 | 4,941 | |
Global Wealth Management | of which: net interest income | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 3,947 | 4,101 | 3,880 | |
Global Wealth Management | of which: transaction-based income from foreign exchange and other intermediary activity | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | [12] | 966 | 948 | 1,062 |
Personal & Corporate Banking | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[9] | 1,992 | 2,049 | 2,044 |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 2,436 | 2,451 | 2,420 | |
Personal & Corporate Banking | of which: net interest income | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 1,992 | 2,049 | 2,044 | |
Personal & Corporate Banking | of which: transaction-based income from foreign exchange and other intermediary activity | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | [12] | 443 | 402 | 376 |
Asset Management | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[9] | (25) | (29) | (23) |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | (13) | (35) | (34) | |
Investment Bank | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[9] | (669) | (459) | 234 |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 4,189 | 4,756 | 4,272 | |
Investment Bank Corporate Client Solutions | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 716 | 1,051 | 1,076 | |
Investment Bank Investor Client Services | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 3,473 | 3,705 | 3,196 | |
Corporate Center | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[9] | (744) | (613) | (64) |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | (182) | (214) | 107 | |
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 | [13],[14],[15] | 8,026 | 7,822 | 7,766 |
Interest income from securities financing transactions | [14],[15],[16] | 2,005 | 1,567 | 1,573 |
Interest income from other financial instruments measured at amortized cost | [14],[15] | 364 | 266 | 99 |
Interest income from debt instruments measured at fair value through other comprehensive income | [14],[15] | 120 | 142 | 152 |
Interest income from derivative instruments designated as cash flow hedges | [14],[15] | 188 | 324 | 846 |
Total interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [14],[15] | 10,703 | 10,121 | 10,437 |
Interest expense on loans and deposits | [14],[15],[17] | 4,541 | 3,566 | 2,515 |
Interest expense on securities financing transactions | [14],[15],[18] | 1,152 | 1,130 | 1,473 |
Interest expense on debt issued | [14],[15] | 1,491 | 1,797 | 1,480 |
Interest expense on lease liabilities | [14],[15],[19] | 118 | ||
Total interest expense from financial instruments measured at amortized cost | [14],[15] | 7,303 | 6,494 | 5,468 |
Total net interest income from financial instruments measured at amortized cost and fair value through other comprehensive income | [14],[15] | 3,400 | 3,628 | 4,969 |
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income from financial instruments at fair value held for trading | [14],[15] | 1,218 | 1,111 | 1,374 |
Net interest income from brokerage balances | [14],[15] | 339 | 575 | |
Interest income from financial instruments at fair value not held for trading | [14],[15] | 2,274 | 1,757 | |
Other interest income | [14],[15] | 185 | 215 | 0 |
Interest expense on financial instruments designated at fair value | [14],[15] | (3,000) | (2,314) | (322) |
Total net interest income from financial instruments measured at fair value through profit or loss | [14],[15] | 1,015 | 1,344 | 1,052 |
Net interest income | [8],[14],[15],[20],[21] | 4,415 | 4,971 | 6,021 |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Investment Bank Global Banking | 229 | 552 | 633 | |
Investment Bank Global Markets | 4,628 | 4,663 | 3,406 | |
Other business divisions and Corporate Center | 1,976 | 1,737 | 1,601 | |
Other net income from financial instruments measured at fair value through profit or loss | 6,833 | 6,953 | 5,640 | |
of which: net gains / (losses) from financial liabilities designated at fair value | [22] | (8,748) | 9,382 | (3,979) |
Total | [23] | 11,248 | 11,924 | 11,661 |
Net gains / (losses) on financial liabilities related to unit-linked investment contracts, which are designated at fair value through profit of loss | (1,830) | 2,152 | ||
Net gains / (losses) on financial assets for unit-linked investment contracts that are mandatorily measured at fair value through profit or loss not held for trading | 1,830 | (2,134) | ||
UBS AG [Member] | Global Wealth Management | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[21] | 3,947 | 4,101 | 3,880 |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 4,913 | 5,050 | 4,942 | |
UBS AG [Member] | Global Wealth Management | of which: net interest income | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 3,947 | 4,101 | 3,880 | |
UBS AG [Member] | Global Wealth Management | of which: transaction-based income from foreign exchange and other intermediary activity | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | [24] | 966 | 948 | 1,062 |
UBS AG [Member] | Personal & Corporate Banking | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[21] | 1,993 | 2,049 | 2,044 |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 2,436 | 2,452 | 2,420 | |
UBS AG [Member] | Personal & Corporate Banking | of which: net interest income | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 1,993 | 2,049 | 2,044 | |
UBS AG [Member] | Personal & Corporate Banking | of which: transaction-based income from foreign exchange and other intermediary activity | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | [24] | 443 | 402 | 376 |
UBS AG [Member] | Asset Management | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[21] | (25) | (29) | (23) |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | (13) | (35) | (34) | |
UBS AG [Member] | Investment Bank | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[21] | (669) | (459) | 234 |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 4,187 | 4,757 | 4,273 | |
UBS AG [Member] | Investment Bank Corporate Client Solutions | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 716 | 1,051 | 1,076 | |
UBS AG [Member] | Investment Bank Investor Client Services | ||||
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | 3,471 | 3,705 | 3,197 | |
UBS AG [Member] | Corporate Center | ||||
Net Interest Income From Financial Instruments Measured At Fair Value Through Profit Or Loss [Abstract] | ||||
Net interest income | [8],[21] | (831) | (690) | (114) |
Other net income from financial instruments measured at fair value through profit or loss | ||||
Total | $ (276) | $ (299) | $ 60 | |
[1] | Consists of interest income from cash and balances at central banks, loans and advances to banks and customers, cash collateral receivables on derivative instruments, and negative interest on amounts due to banks and customer deposits. | |||
[2] | Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[3] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[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, cash collateral payables on derivative instruments, 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] | Relates to lease liabilities recognized upon adoption of IFRS 16 on 1 January 2019. Refer to Note 1b for more information. | |||
[8] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[9] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. | |||
[10] | 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 financial instruments measured at fair value through profit or loss. 2019 included a net loss of USD 1,830 million (2018: net gain of USD 2,152 million) related to financial liabilities related to unit-linked investment contracts, which are designated at fair value through profit or loss. This was offset by a net gain of USD 1,830 million (2018: net loss of USD 2,134 million) related to financial assets for unit-linked investment contracts that are mandatorily measured at fair value through profit or loss not held for trading. | |||
[11] | 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 financial instruments measured at fair value through profit or loss | |||
[12] | Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[13] | Consists of interest income from cash and balances at central banks, loans and advances to banks and customers, cash collateral receivables on derivative instruments, and negative interest on amounts due to banks and customer deposits. | |||
[14] | Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[15] | Effective 1 January 2019, UBS AG refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[16] | Includes interest income on receivables from securities financing transactions and negative interest, including fees, on payables from securities financing transactions. | |||
[17] | Consists of interest expense on amounts due to banks, cash collateral payables on derivative instruments, customer deposits, funding from UBS Group AG and its subsidiaries, and negative interest on cash and balances at central banks, loans and advances to banks. | |||
[18] | Includes interest expense on payables from securities financing transactions and negative interest, including fees, on receivables from securities financing transactions. | |||
[19] | Relates to lease liabilities recognized upon adoption of IFRS 16 on 1 January 2019. Refer to Note 1b for more information. | |||
[20] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[21] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. | |||
[22] | 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 financial instruments measured at fair value through profit or loss. 2019 included a net loss of USD 1,830 million (2018: net gain of USD 2,152 million) related to financial liabilities related to unit-linked investment contracts, which are designated at fair value through profit or loss. This was offset by a net gain of USD 1,830 million (2018: net loss of USD 2,134 million) related to financial assets for unit-linked investment contracts that are mandatorily measured at fair value through profit or loss not held for trading. | |||
[23] | 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 financial instruments measured at fair value through profit or loss | |||
[24] | 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 financial instruments measured at fair value through profit or loss |
Net fee and commission income_2
Net fee and commission income (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Net fee And Commission Income [Line Items] | ||||
Underwriting fees | $ 741 | $ 811 | $ 1,003 | |
of which: equity underwriting fees | 360 | 431 | 573 | |
of which: debt underwriting fees | 382 | 380 | 429 | |
M&A and corporate finance fees | 774 | 768 | 698 | |
Brokerage fees | 3,248 | 3,521 | 3,820 | |
Investment fund fees | 4,858 | 4,954 | 4,322 | |
Portfolio management and related services | 7,656 | 7,756 | 7,666 | |
Other | 1,832 | 1,786 | 1,854 | |
Total fee and commission income | [1] | 19,110 | 19,598 | 19,362 |
Brokerage fees paid | 310 | 316 | 673 | |
Distribution fees paid | 590 | 580 | 514 | |
Other | 797 | 807 | 653 | |
Total fee and commission expense | 1,696 | 1,703 | 1,840 | |
Net fee and commission income | 17,413 | 17,895 | 17,522 | |
of which: net brokerage fees | 2,938 | 3,205 | 3,147 | |
Global Wealth Management | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 11,694 | 12,059 | ||
Personal & Corporate Banking | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 1,307 | 1,338 | ||
Asset Management | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 2,659 | 2,579 | ||
Investment Bank | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 3,355 | 3,525 | ||
Corporate Center | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 94 | 97 | ||
of which: recurring | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [1] | 12,544 | 12,911 | |
of which: transaction-based | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [1] | 6,402 | 6,594 | |
of which: performance-based | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [1] | 163 | 93 | |
UBS AG | ||||
Net fee And Commission Income [Line Items] | ||||
Underwriting fees | 784 | 843 | 1,029 | |
of which: equity underwriting fees | 360 | 431 | 573 | |
of which: debt underwriting fees | 424 | 412 | 456 | |
M&A and corporate finance fees | 774 | 768 | 698 | |
Brokerage fees | 3,248 | 3,521 | 3,821 | |
Investment fund fees | 4,859 | 4,955 | 4,322 | |
Portfolio management and related services | 7,656 | 7,756 | 7,666 | |
Other | 1,836 | 1,789 | 1,854 | |
Total fee and commission income | [2],[3] | 19,156 | 19,632 | 19,390 |
Brokerage fees paid | 310 | 316 | 673 | |
Distribution fees paid | 590 | 580 | 514 | |
Other | 796 | 807 | 653 | |
Total fee and commission expense | [2] | 1,696 | 1,703 | 1,840 |
Net fee and commission income | [2] | 17,460 | 17,930 | 17,550 |
of which: net brokerage fees | 2,938 | 3,205 | $ 3,148 | |
UBS AG | Global Wealth Management | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 11,694 | 12,059 | ||
UBS AG | Personal & Corporate Banking | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 1,307 | 1,338 | ||
UBS AG | Asset Management | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 2,659 | 2,579 | ||
UBS AG | Investment Bank | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 3,397 | 3,557 | ||
UBS AG | Corporate Center | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | 98 | 100 | ||
UBS AG | of which: recurring | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [3] | 12,545 | 12,911 | |
UBS AG | of which: transaction-based | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [3] | 6,449 | 6,629 | |
UBS AG | of which: performance-based | ||||
Net fee And Commission Income [Line Items] | ||||
Total fee and commission income | [3] | $ 163 | $ 93 | |
[1] | For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,355 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 94 million for Corporate Center (for the year ended 31 December 2018: 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). | |||
[2] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[3] | For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,397 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 98 million for Corporate Center (for the year ended 31 December 2018: 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Associates, joint ventures and subsidiaries | ||||||
Net gains / (losses) from acquisitions and disposals of subsidiaries | [1] | $ (36) | $ (290) | [2],[3] | $ 32 | |
Net gains / (losses) from disposals of investments in associates | 4 | 46 | [4] | 0 | ||
Share of net profits of associates and joint ventures | 46 | [5] | 529 | [5],[6] | 76 | |
Impairments related to associates | (1) | 0 | (7) | |||
Total | 13 | 284 | 101 | |||
Net gains / (losses) from disposals of financial assets measured at fair value through other comprehensive income | 31 | 0 | 195 | |||
Impairment of financial assets measured at fair value through other comprehensive income | 0 | 0 | (15) | |||
Net gains / (losses) from disposals of financial assets measured at amortized cost | 0 | 0 | 14 | |||
Income from properties | [7] | 27 | 24 | 24 | ||
Net gains / (losses) from properties held for sale | (19) | 40 | 0 | |||
Other | 160 | 80 | 204 | |||
Total other income | 212 | 428 | 524 | |||
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 and disposals of subsidiaries | [8] | (36) | (292) | [2],[3] | 32 | |
Net gains / (losses) from disposals of investments in associates | 4 | 46 | [4] | 0 | ||
Share of net profits of associates and joint ventures | 46 | [5] | 529 | [5],[6] | 76 | |
Impairments related to associates | (1) | 0 | (7) | |||
Total | 13 | 283 | 101 | |||
Net gains / (losses) from disposals of financial assets measured at fair value through other comprehensive income | 31 | 0 | 195 | |||
Impairment of financial assets measured at fair value through other comprehensive income | 0 | 0 | (15) | |||
Net gains / (losses) from disposals of financial assets measured at amortized cost | 0 | 0 | 14 | |||
Income from properties | [7] | 27 | 24 | 24 | ||
Net gains / (losses) from properties held for sale | (19) | 40 | 0 | |||
Income from shared services provided to UBS Group AG or its subsidiaries | 464 | 478 | 395 | |||
Other | 161 | 80 | 251 | |||
Total other income | [9] | $ 677 | 905 | $ 965 | ||
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 foreign exchange gains / (losses) reclassified from other comprehensive income related to the disposal or closure of foreign operations | |||||
[2] | 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 Widder Hotel. Refer to Note 32 for more information. | |||||
[3] | Includes a remeasurement loss of USD 270 million related to UBS Securities China. 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] | For 2019, consists of USD 28 million from associates and USD 18 million from joint ventures. 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. | |||||
[6] | Includes a USD 460 million valuation gain on our equity ownership in SIX related to the sale of SIX Payment Services to Worldline. | |||||
[7] | Includes rent received from third parties. | |||||
[8] | Includes foreign exchange gains / (losses) reclassified from other comprehensive income related to the disposal or closure of foreign operations | |||||
[9] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. |
Personnel expenses (Detail)
Personnel expenses (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Personnel Expenses [Line Items] | ||||
Salaries | [1] | $ 6,518 | $ 6,448 | $ 6,154 |
Variable compensation - performance awards | 2,755 | 2,995 | 3,151 | |
of which: guarantees for new hires | 29 | 43 | 36 | |
Variable compensation - other | 246 | 243 | 252 | |
of which: replacement payments | [2] | 56 | 72 | 72 |
of which: forfeiture credits | (86) | (136) | (107) | |
of which: severance payments | [3] | 125 | 123 | 113 |
of which: retention plan and other payments | 56 | 66 | 63 | |
of which: Deferred Contingent Capital Plan - interest expense | 94 | 119 | 111 | |
Financial advisor compensation | [4] | 4,043 | 4,054 | 4,064 |
Contractors | 381 | 489 | 460 | |
Social security | 799 | 791 | 814 | |
Pension and other post-employment benefit plans | [5] | 787 | 457 | 723 |
Other personnel expenses | 555 | 654 | 581 | |
Total personnel expenses | [6] | 16,084 | 16,132 | 16,199 |
Reduction of net periodic pension expenses due to changes in Swiss pension plan at announcement | 241 | |||
UBS AG | ||||
Personnel Expenses [Line Items] | ||||
Salaries | [1] | 5,183 | 5,199 | 5,423 |
Variable compensation - performance awards | 2,545 | 2,794 | 3,054 | |
of which: guarantees for new hires | 29 | 43 | 36 | |
Variable compensation - other | 225 | 220 | 231 | |
of which: replacement payments | [2] | 55 | 68 | 70 |
of which: forfeiture credits | (84) | (136) | (106) | |
of which: severance payments | [3] | 110 | 106 | 95 |
of which: retention plan and other payments | 52 | 64 | 62 | |
of which: Deferred Contingent Capital Plan - interest expense | 93 | 116 | 110 | |
Financial advisor compensation | [4] | 4,043 | 4,054 | 4,064 |
Contractors | 147 | 184 | 318 | |
Social security | 627 | 629 | 731 | |
Pension and other post-employment benefit plans | [5] | 569 | 363 | 601 |
Other personnel expenses | 461 | 549 | 531 | |
Total personnel expenses | [6] | $ 13,801 | 13,992 | $ 14,952 |
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] | Financial advisor compensation consists of grid-based compensation based directly on compensable revenues generated by financial advisors and supplemental compensation calculated on the basis of financial advisor productivity, firm tenure, 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. | |||
[5] | 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. | |||
[6] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b |
General and administrative ex_3
General and administrative expenses (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
General And Administrative Expenses [Line Items] | ||||
Occupancy | [1] | $ 381 | $ 914 | $ 908 |
Rent and maintenance of IT and other equipment | 718 | 654 | 570 | |
Communication and market data services | 627 | 638 | 622 | |
Administration | 551 | 590 | 612 | |
of which: UK and German bank levies | [2] | 41 | 58 | 20 |
Marketing and public relations | 317 | 366 | 419 | |
Travel and entertainment | 378 | 425 | 425 | |
Professional fees | 882 | 1,015 | 1,227 | |
Outsourcing of IT and other services | 1,158 | 1,427 | 1,597 | |
Litigation, regulatory and similar matters | [3] | 165 | 657 | 434 |
Other | 111 | 110 | 135 | |
Total general and administrative expenses | [4] | 5,288 | 6,797 | 6,949 |
UK bank levy net expenses | 30 | 40 | 17 | |
UK bank levy credit from prior years | 31 | 45 | 85 | |
Recoveries from third parties | 11 | 29 | 55 | |
UBS AG | ||||
General And Administrative Expenses [Line Items] | ||||
Occupancy | [1] | 342 | 852 | 865 |
Rent and maintenance of IT and other equipment | 339 | 326 | 422 | |
Communication and market data services | 517 | 520 | 544 | |
Administration | 5,176 | 5,383 | 3,644 | |
of which: shared service costs charged by UBS Group AG or its subsidiaries | [1] | 4,621 | 4,803 | 3,046 |
of which: UK and German bank levies | [2] | 41 | 58 | 20 |
Marketing and public relations | 233 | 277 | 338 | |
Travel and entertainment | 325 | 367 | 382 | |
Professional fees | 782 | 870 | 1,086 | |
Outsourcing of IT and other services | 610 | 729 | 1,169 | |
Litigation, regulatory and similar matters | [3] | 165 | 657 | 434 |
Other | 97 | 95 | 118 | |
Total general and administrative expenses | [4] | 8,586 | 10,075 | 9,001 |
UK bank levy net expenses | 30 | 40 | 17 | |
UK bank levy credit from prior years | 31 | 45 | 85 | |
Recoveries from third parties | $ 11 | $ 29 | $ 55 | |
[1] | Occupancy expenses decreased following the application of IFRS 16, which was adopted on 1 January 2019. Refer to Note 1b for more information | |||
[2] | The UK bank levy expenses of USD 30 million (USD 40 million for 2018 and USD 17 million for 2017) included a credit of USD 31 million (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 11 million, USD 29 million and USD 55 million for the years ended 31 December 2019, 31 December 2018 and 31 December 2017, respectively. | |||
[4] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b |
Income taxes (Narrative) (Detai
Income taxes (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Income Taxes [Line Items] | ||||
Average effective tax rate | 22.70% | |||
Net tax expense | [1] | $ 1,267 | $ 1,468 | $ 4,305 |
Deferred tax assets | [2] | 9,537 | 10,105 | |
Net tax expense / (benefit) recognized in other comprehensive income | 326 | (345) | ||
Deferred tax assets recognized by UBS entities that incurred losses in either the current or preceding year based on projections of future taxable profits | $ 75 | 53 | ||
Description of tax laws applicable to unused tax losses | In general, US federal tax losses incurred prior to 31 December 2017 can be carried forward for 20 years, and US federal tax losses incurred after 31 December 2017 and UK tax losses can be carried forward indefinitely. | |||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | $ 37,728 | 38,428 | ||
UK | ||||
Disclosure Income Taxes [Line Items] | ||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 14,900 | 14,200 | ||
United States | ||||
Disclosure Income Taxes [Line Items] | ||||
Deferred tax assets | 9,300 | 9,500 | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 17,800 | 20,000 | ||
Other locations | ||||
Disclosure Income Taxes [Line Items] | ||||
Deferred tax assets | 200 | 600 | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 5,000 | 4,200 | ||
Swiss | ||||
Disclosure Income Taxes [Line Items] | ||||
Net tax expense | 630 | 2,846 | 562 | |
Current tax expense / (benefit) | 365 | 469 | 455 | |
Deferred tax expense / (benefit) | 265 | 2,377 | 107 | |
Non-Swiss | ||||
Disclosure Income Taxes [Line Items] | ||||
Net tax expense | 637 | (1,378) | 3,743 | |
Current tax expense / (benefit) | 426 | 575 | 435 | |
Deferred tax expense / (benefit) | 211 | (1,953) | 3,308 | |
Deferred tax expense / (benefit) resulting from the contribution of certain real estate assets from UBS AG to UBS Americas Inc. | (260) | |||
Amortisation of deferred tax assets | $ 471 | |||
UBS AG | ||||
Disclosure Income Taxes [Line Items] | ||||
Average effective tax rate | 23.20% | |||
Net tax expense | [1] | $ 1,198 | 1,345 | 4,242 |
Deferred tax assets | [2] | 9,513 | 10,066 | |
Net tax expense / (benefit) recognized in other comprehensive income | 327 | (314) | ||
Deferred tax assets recognized by UBS entities that incurred losses in either the current or preceding year based on projections of future taxable profits | $ 75 | 53 | ||
Description of tax laws applicable to unused tax losses | In general, US federal tax losses incurred prior to 31 December 2017 can be carried forward for 20 years, and US federal tax losses incurred after 31 December 2017 and UK tax losses can be carried forward indefinitely. | |||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | $ 37,728 | 38,428 | ||
UBS AG | UK | ||||
Disclosure Income Taxes [Line Items] | ||||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 14,900 | 14,200 | ||
UBS AG | United States | ||||
Disclosure Income Taxes [Line Items] | ||||
Deferred tax assets | 9,300 | 9,500 | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 17,800 | 20,000 | ||
UBS AG | Other locations | ||||
Disclosure Income Taxes [Line Items] | ||||
Deferred tax assets | 200 | 600 | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | 5,000 | 4,200 | ||
UBS AG | Swiss | ||||
Disclosure Income Taxes [Line Items] | ||||
Net tax expense | 582 | 2,760 | 499 | |
Current tax expense / (benefit) | 336 | 434 | 408 | |
Deferred tax expense / (benefit) | 246 | 2,326 | 91 | |
UBS AG | Non-Swiss | ||||
Disclosure Income Taxes [Line Items] | ||||
Net tax expense | 616 | (1,415) | 3,743 | |
Current tax expense / (benefit) | 402 | 537 | 435 | |
Deferred tax expense / (benefit) | 214 | $ (1,952) | $ 3,308 | |
Deferred tax expense / (benefit) resulting from the contribution of certain real estate assets from UBS AG to UBS Americas Inc. | (260) | |||
Amortisation of deferred tax assets | $ 474 | |||
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[2] | Less deferred tax liabilities as applicable. |
Income taxes (Detail 1)
Income taxes (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Major Components Of Tax Expense Income [Line Items] | ||||
Income tax expense / (benefit) | [1] | $ 1,267 | $ 1,468 | $ 4,305 |
Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Current tax expense / (benefit) | 365 | 469 | 455 | |
Deferred tax expense / (benefit) | 265 | 2,377 | 107 | |
Income tax expense / (benefit) | 630 | 2,846 | 562 | |
Non-Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Current tax expense / (benefit) | 426 | 575 | 435 | |
Deferred tax expense / (benefit) | 211 | (1,953) | 3,308 | |
Income tax expense / (benefit) | 637 | (1,378) | 3,743 | |
UBS AG | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Income tax expense / (benefit) | [1] | 1,198 | 1,345 | 4,242 |
UBS AG | Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Current tax expense / (benefit) | 336 | 434 | 408 | |
Deferred tax expense / (benefit) | 246 | 2,326 | 91 | |
Income tax expense / (benefit) | 582 | 2,760 | 499 | |
UBS AG | Non-Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Current tax expense / (benefit) | 402 | 537 | 435 | |
Deferred tax expense / (benefit) | 214 | (1,952) | 3,308 | |
Income tax expense / (benefit) | $ 616 | $ (1,415) | $ 3,743 | |
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b |
Income taxes (Detail 2)
Income taxes (Detail 2) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | [1] | $ 5,577 | $ 5,991 | $ 5,351 |
Income taxes at Swiss tax rate of 20.5% for 2019 and 21% for 2018 and 2017 | 1,143 | 1,258 | 1,124 | |
Increase / (decrease) resulting from: | ||||
Non-Swiss tax rates differing from Swiss tax rate | 82 | 55 | 217 | |
Tax effects of losses not recognized | 131 | 223 | 173 | |
Previously unrecognized tax losses now utilized | (265) | (25) | (368) | |
Non-taxable and lower taxed income | (351) | (430) | (309) | |
Non-deductible expenses and additional taxable income | 732 | 905 | 606 | |
Adjustments related to prior years - current tax | (5) | 114 | (13) | |
Adjustments related to prior years - deferred tax | (6) | 26 | 4 | |
Change in deferred tax recognition | (294) | (795) | (165) | |
Adjustments to deferred tax balances arising from changes in tax rates | (9) | 0 | 2,897 | |
Other items | 107 | 137 | 139 | |
Income tax expense / (benefit) | [1] | $ 1,267 | $ 1,468 | $ 4,305 |
Applicable tax rate | 20.50% | 21.00% | 21.00% | |
Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | $ 2,571 | $ 1,843 | $ 2,093 | |
Increase / (decrease) resulting from: | ||||
Income tax expense / (benefit) | 630 | 2,846 | 562 | |
Non-Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | 3,006 | 4,148 | 3,258 | |
Increase / (decrease) resulting from: | ||||
Income tax expense / (benefit) | 637 | (1,378) | 3,743 | |
UBS AG | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | [1] | 5,169 | 5,458 | 5,076 |
Income taxes at Swiss tax rate of 20.5% for 2019 and 21% for 2018 and 2017 | 1,060 | 1,146 | 1,066 | |
Increase / (decrease) resulting from: | ||||
Non-Swiss tax rates differing from Swiss tax rate | 72 | 68 | 230 | |
Tax effects of losses not recognized | 131 | 222 | 173 | |
Previously unrecognized tax losses now utilized | (265) | (25) | (368) | |
Non-taxable and lower taxed income | (305) | (419) | (306) | |
Non-deductible expenses and additional taxable income | 713 | 883 | 588 | |
Adjustments related to prior years - current tax | 1 | 114 | (14) | |
Adjustments related to prior years - deferred tax | (6) | 27 | 6 | |
Change in deferred tax recognition | (293) | (802) | (165) | |
Adjustments to deferred tax balances arising from changes in tax rates | (9) | 0 | 2,897 | |
Other items | 99 | 130 | 135 | |
Income tax expense / (benefit) | [1] | $ 1,198 | $ 1,345 | $ 4,242 |
Applicable tax rate | 20.50% | 21.00% | 21.00% | |
UBS AG | Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | $ 2,297 | $ 1,427 | $ 1,911 | |
Increase / (decrease) resulting from: | ||||
Income tax expense / (benefit) | 582 | 2,760 | 499 | |
UBS AG | Non-Swiss | ||||
Major Components Of Tax Expense Income [Line Items] | ||||
Operating profit / (loss) before tax | 2,872 | 4,031 | 3,165 | |
Increase / (decrease) resulting from: | ||||
Income tax expense / (benefit) | $ 616 | $ (1,415) | $ 3,743 | |
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b |
Income taxes - DTA (Detail 3.1)
Income taxes - DTA (Detail 3.1) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | $ 19,011 | $ 19,659 |
Valuation allowance | [1] | (9,474) | (9,554) |
Recognized | [1] | 9,537 | 10,105 |
Tax loss carry-forwards | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 14,826 | 15,088 |
Valuation allowance | [1] | (8,861) | (8,989) |
Recognized | [1] | 5,965 | 6,099 |
Temporary differences | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 4,186 | 4,571 |
Valuation allowance | [1] | (613) | (565) |
Recognized | [1] | 3,572 | 4,006 |
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] | 2,219 | 2,159 |
Valuation allowance | [1] | 0 | (25) |
Recognized | [1] | 2,219 | 2,134 |
of which: related to compensation and benefits | Temporary differences | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 1,080 | 1,150 |
Valuation allowance | [1] | (179) | (192) |
Recognized | [1] | 901 | 959 |
of which: related to trading assets | Temporary differences | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 99 | 390 |
Valuation allowance | [1] | (5) | (50) |
Recognized | [1] | 93 | 339 |
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] | 6 | 202 |
Valuation allowance | [1] | 0 | 0 |
Recognized | [1] | 6 | 202 |
of which: other | Temporary differences | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 782 | 670 |
Valuation allowance | [1] | (429) | (298) |
Recognized | [1] | 353 | 372 |
UBS AG | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 18,984 | 19,614 |
Valuation allowance | [1] | (9,471) | (9,548) |
Recognized | [1] | 9,513 | 10,066 |
UBS AG | Tax loss carry-forwards | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 14,826 | 15,088 |
Valuation allowance | [1] | (8,861) | (8,989) |
Recognized | [1] | 5,965 | 6,099 |
UBS AG | Temporary differences | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 4,158 | 4,526 |
Valuation allowance | [1] | (610) | (559) |
Recognized | [1] | 3,548 | 3,967 |
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] | 2,219 | 2,159 |
Valuation allowance | [1] | 0 | (25) |
Recognized | [1] | 2,219 | 2,134 |
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] | 1,075 | 1,146 |
Valuation allowance | [1] | (179) | (192) |
Recognized | [1] | 896 | 954 |
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] | 99 | 390 |
Valuation allowance | [1] | (5) | (50) |
Recognized | [1] | 93 | 339 |
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] | 0 | 179 |
Valuation allowance | [1] | 0 | 0 |
Recognized | [1] | 0 | 179 |
UBS AG | of which: other | Temporary differences | |||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |||
Gross | [1] | 765 | 653 |
Valuation allowance | [1] | (426) | (292) |
Recognized | [1] | $ 340 | $ 361 |
[1] | Less deferred tax liabilities as applicable. |
Income taxes - DTL (Detail 3.2)
Income taxes - DTL (Detail 3.2) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Deferred Tax Liabilities [Line Items] | ||
Goodwill and intangible assets | $ 29 | $ 26 |
Cash flow hedges | 156 | 0 |
Other | 126 | 62 |
Total deferred tax liabilities | 311 | 88 |
UBS AG | ||
Disclosure Of Deferred Tax Liabilities [Line Items] | ||
Goodwill and intangible assets | 29 | 26 |
Cash flow hedges | 156 | 0 |
Other | 126 | 62 |
Total deferred tax liabilities | $ 311 | $ 88 |
Income taxes (Detail 4)
Income taxes (Detail 4) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Unrecognized tax losses carried forward for which no deferred tax asset recognised | $ 37,728 | $ 38,428 |
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 | 13 | 0 |
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 | 609 | 464 |
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 | 14,712 | 16,297 |
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 | 4,030 | 4,457 |
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 | 18,364 | 17,210 |
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 | 37,728 | 38,428 |
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 | 13 | 0 |
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 | 609 | 464 |
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 | 14,712 | 16,297 |
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 | 4,030 | 4,457 |
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 | $ 18,364 | $ 17,210 |
Earnings per share and shares_3
Earnings per share and shares outstanding (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Basic earnings | ||||
Net profit / (loss) attributable to shareholders | $ 4,304 | $ 4,516 | $ 969 | |
Diluted earnings | ||||
Net profit / (loss) attributable to shareholders | 4,304 | 4,516 | 969 | |
Less: (profit) / loss on own equity derivative contracts | 0 | (2) | 0 | |
Net profit / (loss) attributable to shareholders for diluted EPS | $ 4,304 | $ 4,514 | $ 969 | |
Weighted average shares outstanding | ||||
Weighted average shares outstanding for basic EPS | [1] | 3,663,278,238 | 3,730,297,877 | 3,716,174,261 |
Effect of dilutive potential shares resulting from notional shares, in-the-money options and warrants outstanding | 103,881,600 | 111,271,269 | 120,540,272 | |
Weighted average shares outstanding for diluted EPS | 3,767,159,838 | 3,841,569,146 | 3,836,714,533 | |
Earnings per share | ||||
Basic | $ 1.17 | $ 1.21 | $ 0.26 | |
Diluted | $ 1.14 | $ 1.18 | $ 0.25 | |
Shares outstanding | ||||
Shares issued | 3,859,055,395 | 3,855,634,749 | 3,853,096,603 | |
Treasury shares | 243,021,296 | 166,467,802 | 132,301,550 | |
Shares outstanding | 3,616,034,099 | 3,689,166,947 | 3,720,795,053 | |
UBS AG | ||||
Basic earnings | ||||
Net profit / (loss) attributable to shareholders | $ 3,965 | $ 4,107 | $ 758 | |
Diluted earnings | ||||
Net profit / (loss) attributable to shareholders | $ 3,965 | $ 4,107 | $ 758 | |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Potentially Dilutive Instruments [Line Items] | ||||
Employee share-based compensation awards | [1] | 3,605,198 | 24,124,341 | |
Other equity derivative contracts | 21,632,879 | 11,912,450 | 9,122,496 | |
Total | 21,632,879 | 15,517,648 | 33,246,837 | |
[1] | The last remaining option awards and stock appreciation rights expired during 2019. |
Expected credit loss measurem_3
Expected credit loss measurement - On-balance sheet financial assets subject to ECL (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | $ 583,159 | $ 593,770 |
Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 576,815 | 587,104 |
Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 107,068 | 108,370 |
Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 12,447 | 16,868 |
Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 84,245 | 95,349 |
Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 23,289 | 23,602 |
Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 326,786 | 320,352 |
Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 132,646 | 126,335 |
Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 38,481 | 36,474 |
Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,703 | 11,390 |
Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 11,786 | 9,924 |
Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 112,893 | 111,722 |
Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,661 | 1,529 |
Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,844 | 3,260 |
Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 22,980 | 22,563 |
Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,877 | 3,291 |
Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 6,345 | 6,667 |
Twelve-month expected credit losses | 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] | 564,765 | 570,763 |
Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 558,420 | 564,096 |
Twelve-month expected credit losses | Positions that are not credit impaired | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 107,068 | 108,370 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 12,367 | 16,666 |
Twelve-month expected credit losses | Positions that are not credit impaired | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 84,245 | 95,349 |
Twelve-month expected credit losses | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 23,289 | 23,602 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 309,499 | 298,248 |
Twelve-month expected credit losses | 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] | 124,063 | 115,679 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 32,932 | 28,578 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,184 | 10,845 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,817 | 8,029 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 112,796 | 111,707 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,314 | 1,216 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,826 | 2,798 |
Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 21,953 | 21,862 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,341 | 3,104 |
Twelve-month expected credit losses | 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] | 6,345 | 6,667 |
Lifetime expected credit losses | 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] | 16,069 | 20,782 |
Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 16,069 | 20,782 |
Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 80 | 202 |
Lifetime expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 15,538 | 20,357 |
Lifetime expected credit losses | 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] | 7,624 | 9,859 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 5,532 | 7,858 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 424 | 457 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,449 | 1,263 |
Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 325 | 297 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 8 | 445 |
Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 451 | 223 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 334 | 62 |
Lifetime expected credit losses | 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 | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
Lifetime expected credit losses | Credit-impaired positions | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 0 | 0 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 0 | 0 |
Lifetime expected credit losses | Credit-impaired positions | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 0 | 0 |
Lifetime expected credit losses | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 0 | 0 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,749 | 1,748 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 959 | 796 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 17 | 38 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 94 | 88 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 521 | 632 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 98 | 14 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 22 | 16 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 10 | 16 |
Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 576 | 478 |
Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 202 | 125 |
Lifetime expected credit losses | 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 |
Gross carrying amount | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
Gross carrying amount | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 584,075 | 594,706 | |
Gross carrying amount | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 577,730 | 588,039 | |
Gross carrying amount | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 107,068 | 108,370 | |
Gross carrying amount | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 12,454 | 16,875 | |
Gross carrying amount | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 84,246 | 95,350 | |
Gross carrying amount | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 23,289 | 23,601 | |
Gross carrying amount | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 327,550 | 321,124 | |
Gross carrying amount | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 132,756 | ||
Gross carrying amount | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 38,524 | ||
Gross carrying amount | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 9,819 | ||
Gross carrying amount | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 12,089 | ||
Gross carrying amount | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 112,915 | ||
Gross carrying amount | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1,696 | ||
Gross carrying amount | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,925 | ||
Gross carrying amount | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 23,123 | 22,718 | |
Gross carrying amount | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,987 | ||
Gross carrying amount | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 6,345 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (181) | (176) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 564,888 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 558,544 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 107,068 | 108,370 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 12,371 | 16,669 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 84,246 | 95,350 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 23,289 | 23,601 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 309,581 | 298,316 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 124,077 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 32,937 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 9,199 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 9,834 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 112,799 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1,322 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,831 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 21,988 | 21,905 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,370 | ||
Gross carrying amount | Twelve-month expected credit losses | 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 | 6,345 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (160) | (183) | |
Gross carrying amount | Lifetime expected credit losses | 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 | 16,206 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 16,206 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 81 | 203 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 15,661 | 20,510 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 7,679 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 5,567 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 429 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1,464 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 0 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 339 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 8 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 463 | 227 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 344 | ||
Gross carrying amount | Lifetime expected credit losses | 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 | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (688) | (695) | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,981 | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [2] | 2,981 | 2,886 |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1 | 3 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,308 | 2,297 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1,000 | 836 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 21 | 54 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 192 | 170 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 791 | 888 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 116 | 31 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 35 | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 87 | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 672 | 586 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 272 | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 0 | ||
Allowance for expected credit loss | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
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 | (915) | (937) | |
Allowance for expected credit loss | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (915) | (937) | |
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 | (6) | (7) | |
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 | (764) | (772) | |
Allowance for expected credit loss | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (110) | (138) | |
Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (43) | (59) | |
Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (117) | (95) | |
Allowance for expected credit loss | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (303) | (281) | |
Allowance for expected credit loss | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (22) | (21) | |
Allowance for expected credit loss | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (35) | (30) | |
Allowance for expected credit loss | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (81) | (86) | |
Allowance for expected credit loss | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (143) | (155) | |
Allowance for expected credit loss | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (109) | (113) | |
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 | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (181) | (176) | |
Allowance for expected credit loss | Twelve-month expected credit losses | 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 | (124) | (117) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (124) | (117) | |
Allowance for expected credit loss | Twelve-month expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
Allowance for expected credit loss | Twelve-month expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (82) | (69) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (16) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (5) | (3) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (9) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (17) | (13) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (8) | (6) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (5) | (5) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (35) | (43) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (29) | (34) | |
Allowance for expected credit loss | Twelve-month expected credit losses | 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 | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (160) | (183) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | (137) | (159) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (137) | (159) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (1) | (1) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (123) | (155) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (55) | (83) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (34) | (40) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (12) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (14) | (13) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 0 | (3) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (13) | (4) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (11) | (2) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | Credit-impaired positions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (688) | (695) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (655) | (660) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [2] | (655) | (660) |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (1) | (3) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | 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 | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (559) | (549) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (41) | (39) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (16) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (98) | (82) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (271) | (256) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (18) | (17) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (13) | (11) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (77) | (78) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (95) | (109) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (70) | (77) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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] | 584,329 | 594,750 |
UBS AG | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 577,985 | 588,084 |
UBS AG | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 107,068 | 108,370 |
UBS AG | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 12,379 | 16,642 |
UBS AG | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 84,245 | 95,349 |
UBS AG | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 23,289 | 23,603 |
UBS AG | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 327,992 | 321,482 |
UBS AG | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 132,646 | 126,335 |
UBS AG | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 38,481 | 36,474 |
UBS AG | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,703 | 11,390 |
UBS AG | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 11,786 | 9,924 |
UBS AG | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 112,893 | 111,722 |
UBS AG | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,661 | 1,529 |
UBS AG | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,844 | 3,260 |
UBS AG | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 23,012 | 22,637 |
UBS AG | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,877 | 3,291 |
UBS AG | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 6,345 | 6,667 |
UBS AG | Twelve-month expected credit losses | 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] | 565,935 | 571,743 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 559,590 | 565,076 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 107,068 | 108,370 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 12,298 | 16,440 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 84,245 | 95,349 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 23,289 | 23,603 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 310,705 | 299,378 |
UBS AG | Twelve-month expected credit losses | 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] | 124,063 | 115,679 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 32,932 | 28,578 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,184 | 10,845 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,817 | 8,029 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 112,796 | 111,707 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,314 | 1,216 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,826 | 2,798 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 21,985 | 21,936 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,341 | 3,104 |
UBS AG | Twelve-month expected credit losses | 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] | 6,345 | 6,667 |
UBS AG | Lifetime expected credit losses | 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] | 16,069 | 20,782 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 16,069 | 20,782 |
UBS AG | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 80 | 202 |
UBS AG | Lifetime expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 15,538 | 20,357 |
UBS AG | Lifetime expected credit losses | 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] | 7,624 | 9,859 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 5,532 | 7,858 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 424 | 457 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,449 | 1,263 |
UBS AG | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 325 | 297 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 8 | 445 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 451 | 223 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 334 | 62 |
UBS AG | Lifetime expected credit losses | 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 | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 0 | 0 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 0 | 0 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 0 | 0 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 0 | 0 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,749 | 1,748 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 959 | 796 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 17 | 38 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 94 | 88 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 521 | 632 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 98 | 14 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 22 | 16 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 10 | 16 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 576 | 478 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 202 | 125 |
UBS AG | Lifetime expected credit losses | 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 |
UBS AG | Gross carrying amount | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
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 | 585,245 | 595,687 | |
UBS AG | Gross carrying amount | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 578,899 | 589,020 | |
UBS AG | Gross carrying amount | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 107,068 | 108,370 | |
UBS AG | Gross carrying amount | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 12,386 | 16,649 | |
UBS AG | Gross carrying amount | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 84,246 | 95,351 | |
UBS AG | Gross carrying amount | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 23,289 | 23,603 | |
UBS AG | Gross carrying amount | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 328,756 | 322,255 | |
UBS AG | Gross carrying amount | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 132,756 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 38,524 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 9,819 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 12,089 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 112,915 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1,696 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,925 | ||
UBS AG | Gross carrying amount | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 23,154 | 22,792 | |
UBS AG | Gross carrying amount | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,987 | ||
UBS AG | Gross carrying amount | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 6,345 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (181) | (176) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 566,059 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 559,714 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Cash and balances at central banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 107,068 | 108,370 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 12,303 | 16,443 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Receivables from securities financing transactions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 84,246 | 95,351 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 23,289 | 23,603 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 310,787 | 299,448 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 124,077 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 32,937 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 9,199 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 9,834 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 112,799 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1,322 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,831 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 22,019 | 21,979 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,370 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 6,345 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (160) | (183) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 16,206 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 16,206 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 81 | 203 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 15,661 | 20,510 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 7,679 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 5,567 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 429 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1,464 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 0 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 339 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 8 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 463 | 227 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 344 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (688) | (695) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,981 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [2] | 2,981 | 2,886 |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1 | 3 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 2,308 | 2,297 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 1,000 | 836 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 21 | 54 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 192 | 170 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 791 | 888 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 116 | 31 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 35 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 87 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 672 | 586 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 272 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 0 | ||
UBS AG | Allowance for expected credit loss | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
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 | (915) | (937) | |
UBS AG | Allowance for expected credit loss | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (915) | (937) | |
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 | (6) | (7) | |
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 | (764) | (772) | |
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 | (110) | (138) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (43) | (59) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (117) | (95) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (303) | (281) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (22) | (21) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (35) | (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 | (81) | (86) | |
UBS AG | Allowance for expected credit loss | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (143) | (155) | |
UBS AG | Allowance for expected credit loss | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (109) | (113) | |
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 | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (181) | (176) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | 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 | (124) | (117) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (124) | (117) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (82) | (69) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (16) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (5) | (3) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (9) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (17) | (13) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (8) | (6) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (5) | (5) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (35) | (43) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (29) | (34) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | 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 | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (160) | (183) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | (137) | (159) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (137) | (159) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (1) | (1) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (123) | (155) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (55) | (83) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (34) | (40) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (12) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (14) | (13) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 0 | (3) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (13) | (4) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (11) | (2) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | Credit-impaired positions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (688) | (695) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (655) | (660) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [2] | (655) | (660) |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (1) | (3) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | 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 | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (559) | (549) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (41) | (39) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (16) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (98) | (82) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (271) | (256) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (18) | (17) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (13) | (11) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (77) | (78) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (95) | (109) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (70) | (77) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. | ||
[2] | Under IFRS 9, adopted on 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). |
Expected credit loss measurem_4
Expected credit loss measurement - Off-balance sheet financial assets subject to ECL (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Gross carrying amount | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | $ (1,029) | $ (1,054) | |
Gross carrying amount | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 85,728 | 90,268 | |
Financial assets | (114) | (116) | |
Gross carrying amount | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 18,142 | 18,146 | |
Financial assets | (42) | (43) | |
Gross carrying amount | Guarantees | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 3,687 | 3,862 | |
Financial assets | (10) | (8) | |
Gross carrying amount | Guarantees | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,180 | 1,298 | |
Financial assets | (24) | (26) | |
Gross carrying amount | Guarantees | Financial intermediaries and hedge funds | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 7,966 | 7,193 | |
Financial assets | (5) | (4) | |
Gross carrying amount | Guarantees | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 622 | 834 | |
Financial assets | (1) | 0 | |
Gross carrying amount | Guarantees | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 2,334 | 2,097 | |
Financial assets | (1) | (1) | |
Gross carrying amount | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 27,547 | 31,212 | |
Financial assets | (35) | (37) | |
Gross carrying amount | Irrevocable loan commitments | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 18,735 | 22,019 | |
Financial assets | (27) | (31) | |
Gross carrying amount | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,657 | 937 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 35,092 | 36,634 | |
Financial assets | (34) | (36) | |
Gross carrying amount | Committed unconditionally revocable credit lines | Real estate financing | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 5,242 | 2,562 | |
Financial assets | (16) | (17) | |
Gross carrying amount | Committed unconditionally revocable credit lines | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 4,274 | 4,260 | |
Financial assets | (1) | (2) | |
Gross carrying amount | Committed unconditionally revocable credit lines | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 4,787 | 4,505 | |
Financial assets | (9) | (7) | |
Gross carrying amount | Committed unconditionally revocable credit lines | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 7,976 | 7,402 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Committed unconditionally revocable credit lines | Credit cards | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 7,890 | 7,343 | |
Financial assets | (6) | (6) | |
Gross carrying amount | Committed unconditionally revocable credit lines | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 344 | 3,467 | |
Financial assets | 0 | (2) | |
Gross carrying amount | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 3,289 | 3,339 | |
Financial assets | (3) | (1) | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (181) | (176) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 83,626 | 86,830 | |
Financial assets | (58) | (59) | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 17,757 | 17,321 | |
Financial assets | (8) | (7) | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 3,461 | 3,599 | |
Financial assets | (1) | (1) | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,055 | 1,057 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 7,950 | 7,125 | |
Financial assets | (4) | (3) | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 622 | 834 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 2,320 | 1,851 | |
Financial assets | (1) | (1) | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 27,078 | 30,590 | |
Financial assets | (30) | (32) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 18,349 | 21,492 | |
Financial assets | (24) | (26) | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,657 | 937 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 33,848 | 35,121 | |
Financial assets | (17) | (19) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 4,934 | 2,150 | |
Financial assets | (3) | (4) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 4,188 | 4,152 | |
Financial assets | (1) | (1) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 4,589 | 4,163 | |
Financial assets | (8) | (6) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 7,975 | 7,402 | |
Financial assets | 0 | (1) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 7,535 | 7,035 | |
Financial assets | (4) | (4) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 344 | 3,209 | |
Financial assets | 0 | (2) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 3,285 | 2,861 | |
Financial assets | (3) | (1) | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (160) | (183) | |
Gross carrying amount | Lifetime expected credit losses | 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 | 1,920 | 3,055 | |
Financial assets | (23) | (23) | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 304 | 611 | |
Financial assets | (1) | (2) | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 203 | 136 | |
Financial assets | 0 | (1) | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 67 | 164 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 16 | 67 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 13 | 236 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 419 | 568 | |
Financial assets | (5) | (5) | |
Gross carrying amount | Lifetime expected credit losses | 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 | 359 | 519 | |
Financial assets | (3) | (4) | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,197 | 1,420 | |
Financial assets | (17) | (16) | |
Gross carrying amount | Lifetime expected credit losses | 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 | 307 | 401 | |
Financial assets | (13) | (12) | |
Gross carrying amount | Lifetime expected credit losses | 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 | 69 | 91 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 171 | 285 | |
Financial assets | (1) | (1) | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 355 | 309 | |
Financial assets | (2) | (2) | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 254 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 456 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (688) | (695) | |
Gross carrying amount | Lifetime expected credit losses | 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 | [1] | 182 | 383 |
Financial assets | [1] | (33) | (34) |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 82 | 215 | |
Financial assets | (33) | (34) | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 24 | 127 | |
Financial assets | (9) | (6) | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 58 | 77 | |
Financial assets | (23) | (25) | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | Financial intermediaries and hedge funds | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | (1) | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 11 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 50 | 53 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Irrevocable loan commitments | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 27 | 7 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 46 | 93 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 11 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 17 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 27 | 57 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1 | 0 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | Credit cards | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 4 | |
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 4 | 22 | |
Financial assets | 0 | 0 | |
Allowance for expected credit loss | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (181) | (176) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (160) | (183) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (688) | (695) | |
UBS AG | Gross carrying amount | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
UBS AG | Gross carrying amount | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 87,614 | 92,486 | |
Financial assets | (114) | (116) | |
UBS AG | Gross carrying amount | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 18,142 | 18,146 | |
Financial assets | (42) | (43) | |
UBS AG | Gross carrying amount | Guarantees | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 3,687 | 3,862 | |
Financial assets | (10) | (8) | |
UBS AG | Gross carrying amount | Guarantees | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,180 | 1,298 | |
Financial assets | (24) | (26) | |
UBS AG | Gross carrying amount | Guarantees | Financial intermediaries and hedge funds | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 7,966 | 7,193 | |
Financial assets | (5) | (4) | |
UBS AG | Gross carrying amount | Guarantees | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 622 | 834 | |
Financial assets | (1) | 0 | |
UBS AG | Gross carrying amount | Guarantees | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 2,334 | 2,097 | |
Financial assets | (1) | (1) | |
UBS AG | Gross carrying amount | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 27,547 | 31,212 | |
Financial assets | (35) | (37) | |
UBS AG | Gross carrying amount | Irrevocable loan commitments | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 18,735 | 22,019 | |
Financial assets | (27) | (31) | |
UBS AG | Gross carrying amount | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,657 | 937 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 36,979 | 38,851 | |
Financial assets | (34) | (36) | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | Real estate financing | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 5,242 | 2,562 | |
Financial assets | (16) | (17) | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 4,274 | 4,260 | |
Financial assets | (1) | (2) | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 4,787 | 4,505 | |
Financial assets | (9) | (7) | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 7,976 | 7,402 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | Credit cards | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 7,890 | 7,343 | |
Financial assets | (6) | (6) | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 344 | 3,467 | |
Financial assets | 0 | (2) | |
UBS AG | Gross carrying amount | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 3,289 | 3,339 | |
Financial assets | (3) | (1) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (181) | (176) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 85,513 | 89,048 | |
Financial assets | (58) | (59) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 17,757 | 17,321 | |
Financial assets | (8) | (7) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 3,461 | 3,599 | |
Financial assets | (1) | (1) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,055 | 1,057 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 7,950 | 7,125 | |
Financial assets | (4) | (3) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 622 | 834 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 2,320 | 1,851 | |
Financial assets | (1) | (1) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 27,078 | 30,590 | |
Financial assets | (30) | (32) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 18,349 | 21,492 | |
Financial assets | (24) | (26) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,657 | 937 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 35,735 | 37,338 | |
Financial assets | (17) | (19) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 4,934 | 2,150 | |
Financial assets | (3) | (4) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 4,188 | 4,152 | |
Financial assets | (1) | (1) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 4,589 | 4,163 | |
Financial assets | (8) | (6) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 7,975 | 7,402 | |
Financial assets | 0 | (1) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 7,535 | 7,035 | |
Financial assets | (4) | (4) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 344 | 3,209 | |
Financial assets | 0 | (2) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 3,285 | 2,861 | |
Financial assets | (3) | (1) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (160) | (183) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 1,920 | 3,055 | |
Financial assets | (23) | (23) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 304 | 611 | |
Financial assets | (1) | (2) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 203 | 136 | |
Financial assets | 0 | (1) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 67 | 164 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 16 | 67 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 13 | 236 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 419 | 568 | |
Financial assets | (5) | (5) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 359 | 519 | |
Financial assets | (3) | (4) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1,197 | 1,420 | |
Financial assets | (17) | (16) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 307 | 401 | |
Financial assets | (13) | (12) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 69 | 91 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 171 | 285 | |
Financial assets | (1) | (1) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 355 | 309 | |
Financial assets | (2) | (2) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 254 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 456 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (688) | (695) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | [1] | 182 | 383 |
Financial assets | [1] | (33) | (34) |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 82 | 215 | |
Financial assets | (33) | (34) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 24 | 127 | |
Financial assets | (9) | (6) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 58 | 77 | |
Financial assets | (23) | (25) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | Financial intermediaries and hedge funds | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | (1) | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 11 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 50 | 53 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Irrevocable loan commitments | Large corporate clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 27 | 7 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 46 | 93 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | Real estate financing | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 11 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 17 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | SME clients | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 27 | 57 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | Lombard | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 1 | 0 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | Credit cards | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | Commodity trade finance | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 0 | 4 | |
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
Provisions for off-balance sheet financial instruments | 4 | 22 | |
Financial assets | 0 | 0 | |
UBS AG | Allowance for expected credit loss | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (181) | (176) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | (160) | (183) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Provision Matrix [Line Items] | |||
Financial assets | $ (688) | $ (695) | |
[1] | Under IFRS 9, adopted on 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). |
Expected credit loss measurem_5
Expected credit loss measurement - Coverage ratios (Detail 1) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | $ 583,159 | $ 593,770 |
Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 576,815 | 587,104 |
Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 326,786 | 320,352 |
Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 132,646 | 126,335 |
Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 38,481 | 36,474 |
Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,703 | 11,390 |
Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 11,786 | 9,924 |
Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 112,893 | 111,722 |
Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,661 | 1,529 |
Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,844 | 3,260 |
Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 22,980 | 22,563 |
Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,877 | 3,291 |
Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 6,345 | 6,667 |
Twelve-month expected credit losses | 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] | 564,765 | 570,763 |
Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 558,420 | 564,096 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 309,499 | 298,248 |
Twelve-month expected credit losses | 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] | 124,063 | 115,679 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 32,932 | 28,578 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,184 | 10,845 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,817 | 8,029 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 112,796 | 111,707 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,314 | 1,216 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,826 | 2,798 |
Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 21,953 | 21,862 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,341 | 3,104 |
Twelve-month expected credit losses | 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] | 6,345 | 6,667 |
Lifetime expected credit losses | 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] | 16,069 | 20,782 |
Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 16,069 | 20,782 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 15,538 | 20,357 |
Lifetime expected credit losses | 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] | 7,624 | 9,859 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 5,532 | 7,858 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 424 | 457 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,449 | 1,263 |
Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 325 | 297 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 8 | 445 |
Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 451 | 223 |
Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 334 | 62 |
Lifetime expected credit losses | 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 | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,749 | 1,748 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 959 | 796 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 17 | 38 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 94 | 88 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 521 | 632 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 98 | 14 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 22 | 16 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 10 | 16 |
Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 576 | 478 |
Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 202 | 125 |
Lifetime expected credit losses | 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 |
Gross carrying amount | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (1,029) | (1,054) | |
ECL coverage | 0.29% | ||
Gross carrying amount | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 584,075 | 594,706 | |
ECL coverage | 0.16% | ||
Gross carrying amount | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 577,730 | 588,039 | |
ECL coverage | 0.16% | ||
Gross carrying amount | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 327,550 | 321,124 | |
ECL coverage | 0.23% | ||
Gross carrying amount | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 132,756 | ||
ECL coverage | 0.08% | ||
Gross carrying amount | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 38,524 | ||
ECL coverage | 0.11% | ||
Gross carrying amount | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 9,819 | ||
ECL coverage | 1.19% | ||
Gross carrying amount | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 12,089 | ||
ECL coverage | 2.51% | ||
Gross carrying amount | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 112,915 | ||
ECL coverage | 0.02% | ||
Gross carrying amount | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 1,696 | ||
ECL coverage | 2.05% | ||
Gross carrying amount | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,925 | ||
ECL coverage | 2.78% | ||
Gross carrying amount | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 23,123 | 22,718 | |
ECL coverage | 0.62% | ||
Gross carrying amount | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,987 | ||
ECL coverage | 3.66% | ||
Gross carrying amount | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 6,345 | ||
ECL coverage | 0.00% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (181) | (176) | |
ECL coverage | 0.09% | ||
Gross carrying amount | Twelve-month expected credit losses | 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 | $ 564,888 | ||
ECL coverage | 0.02% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 558,544 | ||
ECL coverage | 0.02% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 309,581 | 298,316 | |
ECL coverage | 0.03% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 124,077 | ||
ECL coverage | 0.01% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 32,937 | ||
ECL coverage | 0.02% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 9,199 | ||
ECL coverage | 0.16% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 9,834 | ||
ECL coverage | 0.18% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 112,799 | ||
ECL coverage | 0.00% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 1,322 | ||
ECL coverage | 0.60% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,831 | ||
ECL coverage | 0.17% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 21,988 | 21,905 | |
ECL coverage | 0.16% | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,370 | ||
ECL coverage | 1.22% | ||
Gross carrying amount | Twelve-month expected credit losses | 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 | $ 6,345 | ||
ECL coverage | 0.00% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (160) | (183) | |
ECL coverage | 2.04% | ||
Gross carrying amount | Lifetime expected credit losses | 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 | $ 16,206 | ||
ECL coverage | 0.84% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 16,206 | ||
ECL coverage | 0.84% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 15,661 | 20,510 | |
ECL coverage | 0.79% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 7,679 | ||
ECL coverage | 0.72% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 5,567 | ||
ECL coverage | 0.62% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 429 | ||
ECL coverage | 1.00% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 1,464 | ||
ECL coverage | 1.04% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 0 | ||
ECL coverage | 0.00% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 339 | ||
ECL coverage | 4.04% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 8 | ||
ECL coverage | 0.03% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 463 | 227 | |
ECL coverage | 2.74% | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 344 | ||
ECL coverage | 3.05% | ||
Gross carrying amount | Lifetime expected credit losses | 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 | ||
ECL coverage | 0.00% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (688) | (695) | |
ECL coverage | 40.20% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,981 | ||
ECL coverage | 21.98% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [2] | $ 2,981 | 2,886 |
ECL coverage | 21.98% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,308 | 2,297 | |
ECL coverage | 24.20% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 1,000 | 836 | |
ECL coverage | 4.06% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 21 | 54 | |
ECL coverage | 17.65% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 192 | 170 | |
ECL coverage | 50.88% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 791 | 888 | |
ECL coverage | 34.20% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 116 | 31 | |
ECL coverage | 15.66% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 35 | ||
ECL coverage | 37.18% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 87 | ||
ECL coverage | 88.44% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 672 | 586 | |
ECL coverage | 14.20% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 272 | ||
ECL coverage | 25.70% | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 0 | ||
ECL coverage | 0.00% | ||
Allowance for expected credit loss | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (1,029) | (1,054) | |
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 | (915) | (937) | |
Allowance for expected credit loss | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (915) | (937) | |
Allowance for expected credit loss | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (764) | (772) | |
Allowance for expected credit loss | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (110) | (138) | |
Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (43) | (59) | |
Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (117) | (95) | |
Allowance for expected credit loss | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (303) | (281) | |
Allowance for expected credit loss | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (22) | (21) | |
Allowance for expected credit loss | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (35) | (30) | |
Allowance for expected credit loss | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (81) | (86) | |
Allowance for expected credit loss | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (143) | (155) | |
Allowance for expected credit loss | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (109) | (113) | |
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 | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (181) | (176) | |
Allowance for expected credit loss | Twelve-month expected credit losses | 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 | (124) | (117) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (124) | (117) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (82) | (69) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (16) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (5) | (3) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (9) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (17) | (13) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (8) | (6) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (5) | (5) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (35) | (43) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (29) | (34) | |
Allowance for expected credit loss | Twelve-month expected credit losses | 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 | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (160) | (183) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | (137) | (159) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (137) | (159) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (123) | (155) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (55) | (83) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (34) | (40) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (12) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (14) | (13) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 0 | (3) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (13) | (4) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (11) | (2) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | Credit-impaired positions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (688) | (695) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (655) | (660) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [2] | (655) | (660) |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (559) | (549) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (41) | (39) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (16) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (98) | (82) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (271) | (256) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (18) | (17) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (13) | (11) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (77) | (78) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (95) | (109) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (70) | (77) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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] | 584,329 | 594,750 |
UBS AG | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 577,985 | 588,084 |
UBS AG | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 327,992 | 321,482 |
UBS AG | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 132,646 | 126,335 |
UBS AG | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 38,481 | 36,474 |
UBS AG | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,703 | 11,390 |
UBS AG | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 11,786 | 9,924 |
UBS AG | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 112,893 | 111,722 |
UBS AG | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,661 | 1,529 |
UBS AG | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,844 | 3,260 |
UBS AG | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 23,012 | 22,637 |
UBS AG | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,877 | 3,291 |
UBS AG | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 6,345 | 6,667 |
UBS AG | Twelve-month expected credit losses | 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] | 565,935 | 571,743 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 559,590 | 565,076 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 310,705 | 299,378 |
UBS AG | Twelve-month expected credit losses | 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] | 124,063 | 115,679 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 32,932 | 28,578 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,184 | 10,845 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 9,817 | 8,029 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 112,796 | 111,707 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,314 | 1,216 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,826 | 2,798 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 21,985 | 21,936 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,341 | 3,104 |
UBS AG | Twelve-month expected credit losses | 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] | 6,345 | 6,667 |
UBS AG | Lifetime expected credit losses | 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] | 16,069 | 20,782 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 16,069 | 20,782 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 15,538 | 20,357 |
UBS AG | Lifetime expected credit losses | 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] | 7,624 | 9,859 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 5,532 | 7,858 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 424 | 457 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,449 | 1,263 |
UBS AG | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 325 | 297 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 8 | 445 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 451 | 223 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 334 | 62 |
UBS AG | Lifetime expected credit losses | 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 | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 1,749 | 1,748 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 959 | 796 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 17 | 38 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 94 | 88 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 521 | 632 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 98 | 14 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 22 | 16 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 10 | 16 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 576 | 478 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [1] | 202 | 125 |
UBS AG | Lifetime expected credit losses | 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 |
UBS AG | Gross carrying amount | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (1,029) | (1,054) | |
ECL coverage | 0.29% | ||
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 | $ 585,245 | 595,687 | |
ECL coverage | 0.16% | ||
UBS AG | Gross carrying amount | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 578,899 | 589,020 | |
ECL coverage | 0.16% | ||
UBS AG | Gross carrying amount | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 328,756 | 322,255 | |
ECL coverage | 0.23% | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 132,756 | ||
ECL coverage | 0.08% | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 38,524 | ||
ECL coverage | 0.11% | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 9,819 | ||
ECL coverage | 1.19% | ||
UBS AG | Gross carrying amount | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 12,089 | ||
ECL coverage | 2.51% | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 112,915 | ||
ECL coverage | 0.02% | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 1,696 | ||
ECL coverage | 2.05% | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,925 | ||
ECL coverage | 2.78% | ||
UBS AG | Gross carrying amount | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 23,154 | 22,792 | |
ECL coverage | 0.62% | ||
UBS AG | Gross carrying amount | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,987 | ||
ECL coverage | 3.66% | ||
UBS AG | Gross carrying amount | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 6,345 | ||
ECL coverage | 0.00% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (181) | (176) | |
ECL coverage | 0.09% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | $ 566,059 | ||
ECL coverage | 0.02% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 559,714 | ||
ECL coverage | 0.02% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 310,787 | 299,448 | |
ECL coverage | 0.03% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 124,077 | ||
ECL coverage | 0.01% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 32,937 | ||
ECL coverage | 0.02% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 9,199 | ||
ECL coverage | 0.16% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 9,834 | ||
ECL coverage | 0.18% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 112,799 | ||
ECL coverage | 0.00% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 1,322 | ||
ECL coverage | 0.60% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,831 | ||
ECL coverage | 0.17% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 22,019 | 21,979 | |
ECL coverage | 0.16% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,370 | ||
ECL coverage | 1.22% | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | $ 6,345 | ||
ECL coverage | 0.00% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (160) | (183) | |
ECL coverage | 2.04% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | $ 16,206 | ||
ECL coverage | 0.84% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 16,206 | ||
ECL coverage | 0.84% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 15,661 | 20,510 | |
ECL coverage | 0.79% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 7,679 | ||
ECL coverage | 0.72% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 5,567 | ||
ECL coverage | 0.62% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 429 | ||
ECL coverage | 1.00% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 1,464 | ||
ECL coverage | 1.04% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 0 | ||
ECL coverage | 0.00% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 339 | ||
ECL coverage | 4.04% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 8 | ||
ECL coverage | 0.03% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 463 | 227 | |
ECL coverage | 2.74% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 344 | ||
ECL coverage | 3.05% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | ||
ECL coverage | 0.00% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (688) | (695) | |
ECL coverage | 40.20% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,981 | ||
ECL coverage | 21.98% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [2] | $ 2,981 | 2,886 |
ECL coverage | 21.98% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 2,308 | 2,297 | |
ECL coverage | 24.20% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 1,000 | 836 | |
ECL coverage | 4.06% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 21 | 54 | |
ECL coverage | 17.65% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 192 | 170 | |
ECL coverage | 50.88% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 791 | 888 | |
ECL coverage | 34.20% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 116 | 31 | |
ECL coverage | 15.66% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 35 | ||
ECL coverage | 37.18% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 87 | ||
ECL coverage | 88.44% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 672 | 586 | |
ECL coverage | 14.20% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 272 | ||
ECL coverage | 25.70% | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ 0 | ||
ECL coverage | 0.00% | ||
UBS AG | Allowance for expected credit loss | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | $ (1,029) | (1,054) | |
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 | (915) | (937) | |
UBS AG | Allowance for expected credit loss | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (915) | (937) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (764) | (772) | |
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 | (110) | (138) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (43) | (59) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (117) | (95) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (303) | (281) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (22) | (21) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (35) | (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 | (81) | (86) | |
UBS AG | Allowance for expected credit loss | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (143) | (155) | |
UBS AG | Allowance for expected credit loss | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (109) | (113) | |
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 | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (181) | (176) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | 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 | (124) | (117) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (124) | (117) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (82) | (69) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (16) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (5) | (3) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (9) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (17) | (13) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (8) | (6) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (5) | (5) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (35) | (43) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (29) | (34) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | 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 | Positions that are not credit impaired | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (160) | (183) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | (137) | (159) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (137) | (159) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (123) | (155) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (55) | (83) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (34) | (40) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (4) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (15) | (12) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (14) | (13) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | 0 | (3) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (13) | (4) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (11) | (2) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | Credit-impaired positions | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (688) | (695) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total on-balance sheet financial assets in scope of ECL requirements | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (655) | (660) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | [2] | (655) | (660) |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (559) | (549) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (41) | (39) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (4) | (16) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (98) | (82) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (271) | (256) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Lombard | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (18) | (17) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Credit cards | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (13) | (11) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | Commodity trade finance | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (77) | (78) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (95) | (109) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Loans to financial advisors | |||
Disclosure Of Credit Risk Exposure [Line Items] | |||
Financial assets | (70) | (77) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. | ||
[2] | Under IFRS 9, adopted on 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). |
Expected credit loss measurem_6
Expected credit loss measurement - Coverage ratios (Detail 2) - Gross carrying amount - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.29% | ||
Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.13% | ||
Total exposure | $ 85,728 | $ 90,268 | |
Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.23% | ||
Total exposure | $ 18,142 | 18,146 | |
Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.13% | ||
Total exposure | $ 27,547 | 31,212 | |
Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 1,657 | 937 | |
Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.10% | ||
Total exposure | $ 35,092 | 36,634 | |
Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.08% | ||
Total exposure | $ 3,289 | 3,339 | |
Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.09% | ||
Twelve-month expected credit losses | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.07% | ||
Total exposure | $ 83,626 | 86,830 | |
Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.04% | ||
Total exposure | $ 17,757 | 17,321 | |
Twelve-month expected credit losses | Positions that are not credit impaired | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.11% | ||
Total exposure | $ 27,078 | 30,590 | |
Twelve-month expected credit losses | Positions that are not credit impaired | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 1,657 | 937 | |
Twelve-month expected credit losses | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.05% | ||
Total exposure | $ 33,848 | 35,121 | |
Twelve-month expected credit losses | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.08% | ||
Total exposure | $ 3,285 | 2,861 | |
Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 2.04% | ||
Lifetime expected credit losses | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 1.20% | ||
Total exposure | $ 1,920 | 3,055 | |
Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.30% | ||
Total exposure | $ 304 | 611 | |
Lifetime expected credit losses | Positions that are not credit impaired | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 1.20% | ||
Total exposure | $ 419 | 568 | |
Lifetime expected credit losses | Positions that are not credit impaired | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 0 | 0 | |
Lifetime expected credit losses | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 1.43% | ||
Total exposure | $ 1,197 | 1,420 | |
Lifetime expected credit losses | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 0 | 456 | |
Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 40.20% | ||
Lifetime expected credit losses | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 18.22% | ||
Total exposure | [1] | $ 182 | 383 |
Lifetime expected credit losses | Credit-impaired positions | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 40.32% | ||
Total exposure | $ 82 | 215 | |
Lifetime expected credit losses | Credit-impaired positions | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 50 | 53 | |
Lifetime expected credit losses | Credit-impaired positions | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 0 | 0 | |
Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 46 | 93 | |
Lifetime expected credit losses | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 4 | 22 | |
UBS AG | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.29% | ||
UBS AG | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.13% | ||
Total exposure | $ 87,614 | 92,486 | |
UBS AG | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.23% | ||
Total exposure | $ 18,142 | 18,146 | |
UBS AG | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.13% | ||
Total exposure | $ 27,547 | 31,212 | |
UBS AG | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 1,657 | 937 | |
UBS AG | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.09% | ||
Total exposure | $ 36,979 | 38,851 | |
UBS AG | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.08% | ||
Total exposure | $ 3,289 | 3,339 | |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.09% | ||
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.07% | ||
Total exposure | $ 85,513 | 89,048 | |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.04% | ||
Total exposure | $ 17,757 | 17,321 | |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.11% | ||
Total exposure | $ 27,078 | 30,590 | |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 1,657 | 937 | |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.05% | ||
Total exposure | $ 35,735 | 37,338 | |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.08% | ||
Total exposure | $ 3,285 | 2,861 | |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 2.04% | ||
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 1.20% | ||
Total exposure | $ 1,920 | 3,055 | |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.30% | ||
Total exposure | $ 304 | 611 | |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 1.20% | ||
Total exposure | $ 419 | 568 | |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 0 | 0 | |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 1.43% | ||
Total exposure | $ 1,197 | 1,420 | |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 0 | 456 | |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 40.20% | ||
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 18.22% | ||
Total exposure | [1] | $ 182 | 383 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Guarantees | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 40.32% | ||
Total exposure | $ 82 | 215 | |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Irrevocable loan commitments | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 50 | 53 | |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Forward starting reverse repurchase and securities borrowing agreements | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 0 | 0 | |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Committed unconditionally revocable credit lines | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 46 | 93 | |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Provision Matrix [Line Items] | |||
ECL coverage | 0.00% | ||
Total exposure | $ 4 | $ 22 | |
[1] | Under IFRS 9, adopted on 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). |
Expected credit loss measurem_7
Expected credit loss measurement - ECL allowances and provisions in Switzerland (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Gross carrying amount | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | $ (1,029) | $ (1,054) |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 723 | |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 90 | |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 59 | |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 57 | |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 310 | |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 3 | |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 42 | |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 33 | |
Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 130 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (181) | (176) |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 89 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 8 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 6 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 25 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 2 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 6 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 9 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 23 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (160) | (183) |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 137 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 53 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 47 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 4 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 9 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 12 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 2 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 93 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 40 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 36 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 6 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 2 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 6 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 4 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 2 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 38 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 13 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 1 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 1 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (688) | (695) |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 497 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 27 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 4 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 47 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 276 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 1 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 24 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 12 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 106 | |
Allowance for expected credit loss | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (1,029) | (1,054) |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (181) | (176) |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (160) | (183) |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (688) | (695) |
UBS AG | Gross carrying amount | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (1,029) | (1,054) |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 723 | |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 88 | |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 59 | |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 57 | |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 310 | |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 3 | |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 42 | |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 33 | |
UBS AG | Gross carrying amount | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 128 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (181) | (176) |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 89 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 8 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 6 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 25 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 2 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 6 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 9 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 23 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (160) | (183) |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 137 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 53 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 47 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 4 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 9 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 12 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 2 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 93 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 40 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 36 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 6 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: PD layer | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 2 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 6 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 4 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 2 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: watch list | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 38 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 13 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 1 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 1 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 11 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | of which: 30 days past due | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (688) | (695) |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 497 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Private clients with mortgages | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 27 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Real estate financing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 4 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Large corporate clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 47 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | SME clients | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 276 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Lombard | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 1 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Leasing | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 24 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Credit cards | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 12 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Switzerland | Mortgages, business loans and related off-balance sheet commitments | Other | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | 106 | |
UBS AG | Allowance for expected credit loss | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (1,029) | (1,054) |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (181) | (176) |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | (160) | (183) |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | ||
Disclosure Of Provision Matrix [Line Items] | ||
ECL allowances/provisions | $ (688) | $ (695) |
Expected credit loss measurem_8
Expected credit loss measurement - Coverage ratios (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Decrease in value of real estate collateral by 20 percent | |
Disclosure Of Provision Matrix [Line Items] | |
Percentage of carrying amount of Swiss residential mortgage loans covered by real estate collateral | 100.00% |
Decrease in value of real estate collateral by 30 percent | |
Disclosure Of Provision Matrix [Line Items] | |
Percentage of carrying amount of Swiss residential mortgage loans covered by real estate collateral | 98.00% |
UBS AG | Decrease in value of real estate collateral by 20 percent | |
Disclosure Of Provision Matrix [Line Items] | |
Percentage of carrying amount of Swiss residential mortgage loans covered by real estate collateral | 100.00% |
UBS AG | Decrease in value of real estate collateral by 30 percent | |
Disclosure Of Provision Matrix [Line Items] | |
Percentage of carrying amount of Swiss residential mortgage loans covered by real estate collateral | 98.00% |
Derivative instruments (Narrati
Derivative instruments (Narrative) (Detail 1) | Dec. 31, 2019 | Dec. 31, 2018 |
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 | 54.00% | 56.00% |
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 | 18.00% | 16.00% |
Credit default swaps | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 27.00% | 14.00% |
Credit default swaps | Due between 1 and 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 63.00% | 74.00% |
Credit default swaps | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 10.00% | 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 | 54.00% | 56.00% |
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 | 18.00% | 16.00% |
UBS AG | Credit default swaps | Within 1 year | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 27.00% | 14.00% |
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 | 63.00% | 74.00% |
UBS AG | Credit default swaps | Due after 5 years | ||
Maturity Profile Of Derivatives Notionals [Line Items] | ||
Maturity profile of derivatives based on notional amount | 10.00% | 12.00% |
Derivative instruments (Detail
Derivative instruments (Detail 1) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | |||
PRV | [1],[2],[3] | $ 121,841 | $ 126,210 |
Notional values related to PRV | [1],[2],[3],[4] | 4,758,600 | 4,238,600 |
NRV | [1],[2],[3],[5],[6] | 120,880 | 125,723 |
Notional values related to NRV | [1],[2],[3],[4] | 4,635,400 | 4,163,400 |
Other notional values | [1],[2],[3],[4],[7] | 12,135,100 | 10,893,600 |
Derivative loan commitments | 17 | 17 | |
Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 42,600 | 37,100 |
Notional values related to PRV | [1],[3],[4] | 1,006,600 | 1,051,100 |
NRV | [1],[3] | 36,600 | 32,700 |
Notional values related to NRV | [1],[3],[4] | 960,700 | 1,021,300 |
Other notional values | [1],[3],[4],[7] | 11,999,200 | 10,778,800 |
Credit derivative contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 2,000 | 1,900 |
Notional values related to PRV | [1],[3],[4] | 70,200 | 74,500 |
NRV | [1],[3] | 3,000 | 2,700 |
Notional values related to NRV | [1],[3],[4] | 69,900 | 78,300 |
Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 52,500 | 53,500 |
Notional values related to PRV | [1],[3],[4] | 3,173,400 | 2,625,700 |
NRV | [1],[3] | 54,000 | 53,400 |
Notional values related to NRV | [1],[3],[4] | 2,993,800 | 2,517,300 |
Other notional values | [1],[3],[4],[7] | 1,200 | 400 |
Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 22,800 | 31,400 |
Notional values related to PRV | [1],[3],[4] | 420,300 | 408,900 |
NRV | [1],[3] | 25,500 | 35,000 |
Notional values related to NRV | [1],[3],[4] | 534,500 | 488,800 |
Other notional values | [1],[3],[4],[7] | 122,100 | 105,900 |
Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 1,800 | 1,800 |
Notional values related to PRV | [1],[3],[4] | 56,100 | 46,400 |
NRV | [1],[3] | 1,700 | 1,500 |
Notional values related to NRV | [1],[3],[4] | 60,000 | 38,500 |
Other notional values | [1],[3],[4],[7] | 12,600 | 8,600 |
Unsettled purchases of non-derivative financial instruments | |||
Derivative [Line Items] | |||
PRV | [1],[3],[8] | 100 | 200 |
Notional values related to PRV | [1],[3],[4],[8] | 16,600 | 17,000 |
NRV | [1],[3],[8] | 100 | 100 |
Notional values related to NRV | [1],[3],[4],[8] | 6,900 | 6,000 |
Unsettled sales of non-derivative financial instruments | |||
Derivative [Line Items] | |||
PRV | [1],[3],[8] | 100 | 400 |
Notional values related to PRV | [1],[3],[4],[8] | 15,400 | 15,100 |
NRV | [1],[3],[8] | 100 | 200 |
Notional values related to NRV | [1],[3],[4],[8] | 9,700 | 13,200 |
Forward contracts | Over-the-counter (OTC) contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 2,800 | 1,400 |
NRV | [1],[3] | 300 | 100 |
Notional values related to NRV | [1],[3],[4] | 5,100 | 3,100 |
Other notional values | [1],[3],[4],[7] | 3,136,800 | 2,873,900 |
Forward contracts | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 22,400 | 20,300 |
Notional values related to PRV | [1],[3],[4] | 935,300 | 708,700 |
NRV | [1],[3] | 23,400 | 20,900 |
Notional values related to NRV | [1],[3],[4] | 966,600 | 731,200 |
Forward contracts | Over-the-counter (OTC) contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 0 | 0 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 0 | 0 |
Forward contracts | Over-the-counter (OTC) contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 100 | 100 |
Notional values related to PRV | [1],[3],[4] | 4,200 | 3,200 |
NRV | [1],[3] | 200 | 100 |
Notional values related to NRV | [1],[3],[4] | 5,700 | 3,400 |
Forward contracts | Exchange-traded contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 5,900 | 6,600 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 4,900 | 5,400 |
Swaps | Over-the-counter (OTC) contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 34,300 | 29,500 |
Notional values related to PRV | [1],[3],[4] | 454,700 | 459,800 |
NRV | [1],[3] | 26,200 | 23,500 |
Notional values related to NRV | [1],[3],[4] | 402,900 | 441,800 |
Other notional values | [1],[3],[4],[7] | 8,086,000 | 7,189,100 |
Swaps | Over-the-counter (OTC) contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 4,000 | 4,700 |
Notional values related to PRV | [1],[3],[4] | 81,300 | 78,500 |
NRV | [1],[3] | 5,500 | 5,600 |
Notional values related to NRV | [1],[3],[4] | 96,300 | 86,300 |
Swaps | Over-the-counter (OTC) contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 400 | 700 |
Notional values related to PRV | [1],[3],[4] | 13,800 | 15,200 |
NRV | [1],[3] | 600 | 400 |
Notional values related to NRV | [1],[3],[4] | 15,100 | 9,900 |
Options | Over-the-counter (OTC) contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 8,100 | 7,600 |
Notional values related to PRV | [1],[3],[4] | 464,800 | 562,200 |
NRV | [1],[3] | 10,000 | 9,000 |
Notional values related to NRV | [1],[3],[4] | 486,100 | 550,000 |
Options | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 7,300 | 8,300 |
Notional values related to PRV | [1],[3],[4] | 660,900 | 613,800 |
NRV | [1],[3] | 6,800 | 7,800 |
Notional values related to NRV | [1],[3],[4] | 604,900 | 577,400 |
Options | Over-the-counter (OTC) contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 5,000 | 5,500 |
Notional values related to PRV | [1],[3],[4] | 88,600 | 97,600 |
NRV | [1],[3] | 6,800 | 7,200 |
Notional values related to NRV | [1],[3],[4] | 144,100 | 139,600 |
Options | Over-the-counter (OTC) contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 1,000 | 400 |
Notional values related to PRV | [1],[3],[4] | 27,400 | 18,600 |
NRV | [1],[3] | 400 | 300 |
Notional values related to NRV | [1],[3],[4] | 23,600 | 16,100 |
Options | Exchange-traded contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 84,400 | 27,700 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 66,600 | 26,300 |
Other notional values | [1],[3],[4],[7] | 229,500 | 199,700 |
Options | Exchange-traded contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 4,000 | 3,600 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 3,800 | 5,300 |
Options | Exchange-traded contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 7,200 | 10,100 |
Notional values related to PRV | [1],[3],[4] | 250,400 | 232,800 |
NRV | [1],[3] | 7,800 | 9,000 |
Notional values related to NRV | [1],[3],[4] | 294,100 | 262,800 |
Other notional values | [1],[3],[4],[7] | 37,200 | 34,100 |
Options | Exchange-traded contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 100 | 100 |
Notional values related to PRV | [1],[3],[4] | 4,800 | 2,900 |
NRV | [1],[3] | 100 | 0 |
Notional values related to NRV | [1],[3],[4] | 10,700 | 3,700 |
Other notional values | [1],[3],[4],[7] | 600 | 100 |
Futures | Exchange-traded contracts | Interest rate risk | |||
Derivative [Line Items] | |||
Other notional values | [1],[3],[4],[7] | 546,900 | 516,100 |
Futures | Exchange-traded contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
Other notional values | [1],[3],[4],[7] | 1,200 | 400 |
Futures | Exchange-traded contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
Other notional values | [1],[3],[4],[7] | 84,900 | 71,700 |
Futures | Exchange-traded contracts | Commodity contracts | |||
Derivative [Line Items] | |||
Other notional values | [1],[3],[4],[7] | 12,000 | 8,500 |
Agency transactions | Exchange-traded contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3],[9] | 100 | 0 |
NRV | [1],[3],[9] | 100 | 100 |
Agency transactions | Exchange-traded contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3],[9] | 0 | 0 |
NRV | [1],[3],[9] | 0 | 100 |
Agency transactions | Exchange-traded contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3],[9] | 6,600 | 11,200 |
NRV | [1],[3],[9] | 5,400 | 13,300 |
Agency transactions | Exchange-traded contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3],[9] | 300 | 400 |
NRV | [1],[3],[9] | 500 | 700 |
Credit default swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 1,700 | 1,700 |
Notional values related to PRV | [1],[3],[4] | 65,000 | 68,800 |
NRV | [1],[3] | 2,200 | 2,100 |
Notional values related to NRV | [1],[3],[4] | 66,000 | 73,200 |
Total return swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 300 | 200 |
Notional values related to PRV | [1],[3],[4] | 2,000 | 3,000 |
NRV | [1],[3] | 800 | 600 |
Notional values related to NRV | [1],[3],[4] | 3,300 | 3,700 |
Options and warrants | Over-the-counter (OTC) contracts | Credit derivative contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 3,300 | 2,700 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 600 | 1,400 |
Interest and currency swaps | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 22,800 | 24,800 |
Notional values related to PRV | [1],[3],[4] | 1,573,200 | 1,299,700 |
NRV | [1],[3] | 23,800 | 24,600 |
Notional values related to NRV | [1],[3],[4] | 1,418,500 | 1,203,500 |
UBS AG | |||
Derivative [Line Items] | |||
PRV | [1],[3],[10] | 121,843 | 126,212 |
Notional values related to PRV | [1],[3],[4],[10] | 4,758,900 | 4,238,700 |
NRV | [1],[3],[10] | 120,880 | 125,723 |
Notional values related to NRV | [1],[3],[4],[10] | 4,635,400 | 4,163,400 |
Other notional values | [1],[3],[4],[7],[10] | 12,135,100 | 10,893,600 |
Derivative loan commitments | 17 | 17 | |
UBS AG | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 42,600 | 37,100 |
Notional values related to PRV | [1],[3],[4] | 1,006,600 | 1,051,100 |
NRV | [1],[3] | 36,600 | 32,700 |
Notional values related to NRV | [1],[3],[4] | 960,700 | 1,021,300 |
Other notional values | [1],[3],[4],[7] | 11,999,200 | 10,778,800 |
UBS AG | Credit derivative contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 2,000 | 1,900 |
Notional values related to PRV | [1],[3],[4] | 70,200 | 74,500 |
NRV | [1],[3] | 3,000 | 2,700 |
Notional values related to NRV | [1],[3],[4] | 69,900 | 78,300 |
UBS AG | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 52,500 | 53,500 |
Notional values related to PRV | [1],[3],[4] | 3,173,600 | 2,625,800 |
NRV | [1],[3] | 54,000 | 53,400 |
Notional values related to NRV | [1],[3],[4] | 2,993,800 | 2,517,300 |
Other notional values | [1],[3],[4],[7] | 1,200 | 400 |
UBS AG | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 22,800 | 31,400 |
Notional values related to PRV | [1],[3],[4] | 420,300 | 408,900 |
NRV | [1],[3] | 25,500 | 35,000 |
Notional values related to NRV | [1],[3],[4] | 534,500 | 488,800 |
Other notional values | [1],[3],[4],[7] | 122,100 | 105,900 |
UBS AG | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 1,800 | 1,800 |
Notional values related to PRV | [1],[3],[4] | 56,100 | 46,400 |
NRV | [1],[3] | 1,700 | 1,500 |
Notional values related to NRV | [1],[3],[4] | 60,000 | 38,500 |
Other notional values | [1],[3],[4],[7] | 12,600 | 8,600 |
UBS AG | Unsettled purchases of non-derivative financial instruments | |||
Derivative [Line Items] | |||
PRV | [1],[3],[8] | 100 | 200 |
Notional values related to PRV | [1],[3],[4],[8] | 16,600 | 17,000 |
NRV | [1],[3],[8] | 100 | 100 |
Notional values related to NRV | [1],[3],[4],[8] | 6,900 | 6,000 |
UBS AG | Unsettled sales of non-derivative financial instruments | |||
Derivative [Line Items] | |||
PRV | [1],[3],[8] | 100 | 400 |
Notional values related to PRV | [1],[3],[4],[8] | 15,400 | 15,100 |
NRV | [1],[3],[8] | 100 | 200 |
Notional values related to NRV | [1],[3],[4],[8] | 9,700 | 13,200 |
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 2,800 | 1,400 |
NRV | [1],[3] | 300 | 100 |
Notional values related to NRV | [1],[3],[4] | 5,100 | 3,100 |
Other notional values | [1],[3],[4],[7] | 3,136,800 | 2,873,900 |
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 22,400 | 20,300 |
Notional values related to PRV | [1],[3],[4] | 935,500 | 708,800 |
NRV | [1],[3] | 23,400 | 20,900 |
Notional values related to NRV | [1],[3],[4] | 966,600 | 731,200 |
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 0 | 0 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 0 | 0 |
UBS AG | Forward contracts | Over-the-counter (OTC) contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 100 | 100 |
Notional values related to PRV | [1],[3],[4] | 4,200 | 3,200 |
NRV | [1],[3] | 200 | 100 |
Notional values related to NRV | [1],[3],[4] | 5,700 | 3,400 |
UBS AG | Forward contracts | Exchange-traded contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 5,900 | 6,600 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 4,900 | 5,400 |
UBS AG | Swaps | Over-the-counter (OTC) contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 34,300 | 29,500 |
Notional values related to PRV | [1],[3],[4] | 454,700 | 459,800 |
NRV | [1],[3] | 26,200 | 23,500 |
Notional values related to NRV | [1],[3],[4] | 402,900 | 441,800 |
Other notional values | [1],[3],[4],[7] | 8,086,000 | 7,189,100 |
UBS AG | Swaps | Over-the-counter (OTC) contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 4,000 | 4,700 |
Notional values related to PRV | [1],[3],[4] | 81,300 | 78,500 |
NRV | [1],[3] | 5,500 | 5,600 |
Notional values related to NRV | [1],[3],[4] | 96,300 | 86,300 |
UBS AG | Swaps | Over-the-counter (OTC) contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 400 | 700 |
Notional values related to PRV | [1],[3],[4] | 13,800 | 15,200 |
NRV | [1],[3] | 600 | 400 |
Notional values related to NRV | [1],[3],[4] | 15,100 | 9,900 |
UBS AG | Options | Over-the-counter (OTC) contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 8,100 | 7,600 |
Notional values related to PRV | [1],[3],[4] | 464,800 | 562,200 |
NRV | [1],[3] | 10,000 | 9,000 |
Notional values related to NRV | [1],[3],[4] | 486,100 | 550,000 |
UBS AG | Options | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 7,300 | 8,300 |
Notional values related to PRV | [1],[3],[4] | 660,900 | 613,800 |
NRV | [1],[3] | 6,800 | 7,800 |
Notional values related to NRV | [1],[3],[4] | 604,900 | 577,400 |
UBS AG | Options | Over-the-counter (OTC) contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 5,000 | 5,500 |
Notional values related to PRV | [1],[3],[4] | 88,600 | 97,600 |
NRV | [1],[3] | 6,800 | 7,200 |
Notional values related to NRV | [1],[3],[4] | 144,100 | 139,600 |
UBS AG | Options | Over-the-counter (OTC) contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 1,000 | 400 |
Notional values related to PRV | [1],[3],[4] | 27,400 | 18,600 |
NRV | [1],[3] | 400 | 300 |
Notional values related to NRV | [1],[3],[4] | 23,600 | 16,100 |
UBS AG | Options | Exchange-traded contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 84,400 | 27,700 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 66,600 | 26,300 |
Other notional values | [1],[3],[4],[7] | 229,500 | 199,700 |
UBS AG | Options | Exchange-traded contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 4,000 | 3,600 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 3,800 | 5,300 |
UBS AG | Options | Exchange-traded contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 7,200 | 10,100 |
Notional values related to PRV | [1],[3],[4] | 250,400 | 232,800 |
NRV | [1],[3] | 7,800 | 9,000 |
Notional values related to NRV | [1],[3],[4] | 294,100 | 262,800 |
Other notional values | [1],[3],[4],[7] | 37,200 | 34,100 |
UBS AG | Options | Exchange-traded contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 100 | 100 |
Notional values related to PRV | [1],[3],[4] | 4,800 | 2,900 |
NRV | [1],[3] | 100 | 0 |
Notional values related to NRV | [1],[3],[4] | 10,700 | 3,700 |
Other notional values | [1],[3],[4],[7] | 600 | 100 |
UBS AG | Futures | Exchange-traded contracts | Interest rate risk | |||
Derivative [Line Items] | |||
Other notional values | [1],[3],[4],[7] | 546,900 | 516,100 |
UBS AG | Futures | Exchange-traded contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
Other notional values | [1],[3],[4],[7] | 1,200 | 400 |
UBS AG | Futures | Exchange-traded contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
Other notional values | [1],[3],[4],[7] | 84,900 | 71,700 |
UBS AG | Futures | Exchange-traded contracts | Commodity contracts | |||
Derivative [Line Items] | |||
Other notional values | [1],[3],[4],[7] | 12,000 | 8,500 |
UBS AG | Agency transactions | Exchange-traded contracts | Interest rate risk | |||
Derivative [Line Items] | |||
PRV | [1],[3],[9] | 100 | 0 |
NRV | [1],[3],[9] | 100 | 100 |
UBS AG | Agency transactions | Exchange-traded contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3],[9] | 0 | 0 |
NRV | [1],[3],[9] | 0 | 100 |
UBS AG | Agency transactions | Exchange-traded contracts | Equity / index contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3],[9] | 6,600 | 11,200 |
NRV | [1],[3],[9] | 5,400 | 13,300 |
UBS AG | Agency transactions | Exchange-traded contracts | Commodity contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3],[9] | 300 | 400 |
NRV | [1],[3],[9] | 500 | 700 |
UBS AG | Credit default swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 1,700 | 1,700 |
Notional values related to PRV | [1],[3],[4] | 65,000 | 68,800 |
NRV | [1],[3] | 2,200 | 2,100 |
Notional values related to NRV | [1],[3],[4] | 66,000 | 73,200 |
UBS AG | Total return swaps | Over-the-counter (OTC) contracts | Credit derivative contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 300 | 200 |
Notional values related to PRV | [1],[3],[4] | 2,000 | 3,000 |
NRV | [1],[3] | 800 | 600 |
Notional values related to NRV | [1],[3],[4] | 3,300 | 3,700 |
UBS AG | Options and warrants | Over-the-counter (OTC) contracts | Credit derivative contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 0 | 0 |
Notional values related to PRV | [1],[3],[4] | 3,300 | 2,700 |
NRV | [1],[3] | 0 | 0 |
Notional values related to NRV | [1],[3],[4] | 600 | 1,400 |
UBS AG | Interest and currency swaps | Over-the-counter (OTC) contracts | Foreign exchange contracts | |||
Derivative [Line Items] | |||
PRV | [1],[3] | 22,800 | 24,800 |
Notional values related to PRV | [1],[3],[4] | 1,573,200 | 1,299,700 |
NRV | [1],[3] | 23,800 | 24,600 |
Notional values related to NRV | [1],[3],[4] | $ 1,418,500 | $ 1,203,500 |
[1] | Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in 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] | Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. | ||
[4] | In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. | ||
[5] | Carrying amount 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] | 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 | ||
[7] | 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. | ||
[8] | Changes in the fair value of purchased and sold non-derivative financial instruments between trade date and settlement date are recognized as derivative financial instruments. | ||
[9] | 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. | ||
[10] | Financial assets and liabilities are presented net on the balance sheet if UBS AG 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. |
Derivative instruments (Detai_2
Derivative instruments (Detail 2) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Credit Derivatives [Line Items] | |||
PRV | [1],[2],[3] | $ 121,841 | $ 126,210 |
NRV | [1],[2],[3],[4],[5] | 120,880 | 125,723 |
Credit derivative contracts | |||
Credit Derivatives [Line Items] | |||
PRV | [1],[3] | 2,000 | 1,900 |
NRV | [1],[3] | 3,000 | 2,700 |
Protection bought | |||
Credit Derivatives [Line Items] | |||
PRV | 700 | 1,100 | |
NRV | 2,100 | 1,600 | |
Notional values | 74,600 | 81,300 | |
Protection bought | of which: credit derivatives related to economic hedges | |||
Credit Derivatives [Line Items] | |||
PRV | 600 | 900 | |
NRV | 1,700 | 1,300 | |
Notional values | 56,100 | 59,200 | |
Protection bought | of which: credit derivatives related to market-making | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 200 | |
NRV | 400 | 400 | |
Notional values | 18,600 | 22,100 | |
Protection bought | Single-name credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 300 | 600 | |
NRV | 700 | 600 | |
Notional values | 37,500 | 43,300 | |
Protection bought | Multi-name index-linked credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 300 | |
NRV | 800 | 300 | |
Notional values | 29,300 | 29,100 | |
Protection bought | Multi-name other credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 0 | 0 | |
NRV | 0 | 0 | |
Notional values | 400 | 100 | |
Protection bought | Total rate of return swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 200 | 200 | |
NRV | 600 | 700 | |
Notional values | 3,700 | 4,700 | |
Protection bought | Options and warrants | |||
Credit Derivatives [Line Items] | |||
PRV | 0 | 0 | |
NRV | 0 | 0 | |
Notional values | 3,800 | 4,100 | |
Protection sold | |||
Credit Derivatives [Line Items] | |||
PRV | 1,300 | 800 | |
NRV | 900 | 1,200 | |
Notional values | 65,400 | 71,400 | |
Protection sold | of which: credit derivatives related to economic hedges | |||
Credit Derivatives [Line Items] | |||
PRV | 900 | 500 | |
NRV | 800 | 1,100 | |
Notional values | 45,700 | 48,900 | |
Protection sold | of which: credit derivatives related to market-making | |||
Credit Derivatives [Line Items] | |||
PRV | 500 | 300 | |
NRV | 100 | 200 | |
Notional values | 19,700 | 22,600 | |
Protection sold | Single-name credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 800 | 500 | |
NRV | 700 | 1,000 | |
Notional values | 38,600 | 44,900 | |
Protection sold | Multi-name index-linked credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 500 | 300 | |
NRV | 100 | 200 | |
Notional values | 24,900 | 24,400 | |
Protection sold | Multi-name other credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 0 | 0 | |
NRV | 0 | 0 | |
Notional values | 300 | 100 | |
Protection sold | Total rate of return swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 0 | |
NRV | 200 | 0 | |
Notional values | 1,600 | 2,000 | |
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 | [1],[3],[6] | 121,843 | 126,212 |
NRV | [1],[3],[6] | 120,880 | 125,723 |
UBS AG | Credit derivative contracts | |||
Credit Derivatives [Line Items] | |||
PRV | [1],[3] | 2,000 | 1,900 |
NRV | [1],[3] | 3,000 | 2,700 |
UBS AG | Protection bought | |||
Credit Derivatives [Line Items] | |||
PRV | 700 | 1,100 | |
NRV | 2,100 | 1,600 | |
Notional values | 74,600 | 81,300 | |
UBS AG | Protection bought | of which: credit derivatives related to economic hedges | |||
Credit Derivatives [Line Items] | |||
PRV | 600 | 900 | |
NRV | 1,700 | 1,300 | |
Notional values | 56,100 | 59,200 | |
UBS AG | Protection bought | of which: credit derivatives related to market-making | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 200 | |
NRV | 400 | 400 | |
Notional values | 18,600 | 22,100 | |
UBS AG | Protection bought | Single-name credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 300 | 600 | |
NRV | 700 | 600 | |
Notional values | 37,500 | 43,300 | |
UBS AG | Protection bought | Multi-name index-linked credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 300 | |
NRV | 800 | 300 | |
Notional values | 29,300 | 29,100 | |
UBS AG | Protection bought | Multi-name other credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 0 | 0 | |
NRV | 0 | 0 | |
Notional values | 400 | 100 | |
UBS AG | Protection bought | Total rate of return swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 200 | 200 | |
NRV | 600 | 700 | |
Notional values | 3,700 | 4,700 | |
UBS AG | Protection bought | Options and warrants | |||
Credit Derivatives [Line Items] | |||
PRV | 0 | 0 | |
NRV | 0 | 0 | |
Notional values | 3,800 | 4,100 | |
UBS AG | Protection sold | |||
Credit Derivatives [Line Items] | |||
PRV | 1,300 | 800 | |
NRV | 900 | 1,200 | |
Notional values | 65,400 | 71,400 | |
UBS AG | Protection sold | of which: credit derivatives related to economic hedges | |||
Credit Derivatives [Line Items] | |||
PRV | 900 | 500 | |
NRV | 800 | 1,100 | |
Notional values | 45,700 | 48,900 | |
UBS AG | Protection sold | of which: credit derivatives related to market-making | |||
Credit Derivatives [Line Items] | |||
PRV | 500 | 300 | |
NRV | 100 | 200 | |
Notional values | 19,700 | 22,600 | |
UBS AG | Protection sold | Single-name credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 800 | 500 | |
NRV | 700 | 1,000 | |
Notional values | 38,600 | 44,900 | |
UBS AG | Protection sold | Multi-name index-linked credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 500 | 300 | |
NRV | 100 | 200 | |
Notional values | 24,900 | 24,400 | |
UBS AG | Protection sold | Multi-name other credit default swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 0 | 0 | |
NRV | 0 | 0 | |
Notional values | 300 | 100 | |
UBS AG | Protection sold | Total rate of return swaps | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 0 | |
NRV | 200 | 0 | |
Notional values | 1,600 | 2,000 | |
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 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in 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] | Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. | ||
[4] | Carrying amount 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. | ||
[5] | 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 | ||
[6] | Financial assets and liabilities are presented net on the balance sheet if UBS AG 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. |
Derivative instruments (Detai_3
Derivative instruments (Detail 3) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Credit Derivatives [Line Items] | |||
PRV | [1],[2],[3] | $ 121,841 | $ 126,210 |
NRV | [1],[2],[3],[4],[5] | 120,880 | 125,723 |
Credit derivative contracts | |||
Credit Derivatives [Line Items] | |||
PRV | [1],[3] | 2,000 | 1,900 |
NRV | [1],[3] | 3,000 | 2,700 |
Protection bought | |||
Credit Derivatives [Line Items] | |||
PRV | 700 | 1,100 | |
NRV | 2,100 | 1,600 | |
Notional values | 74,600 | 81,300 | |
Protection bought | Broker-dealers | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 200 | |
NRV | 200 | 100 | |
Notional values | 10,500 | 13,000 | |
Protection bought | Banks | |||
Credit Derivatives [Line Items] | |||
PRV | 200 | 400 | |
NRV | 400 | 400 | |
Notional values | 23,600 | 29,200 | |
Protection bought | Central clearing counterparties | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 200 | |
NRV | 900 | 400 | |
Notional values | 34,700 | 31,900 | |
Protection bought | Other | |||
Credit Derivatives [Line Items] | |||
PRV | 300 | 300 | |
NRV | 700 | 700 | |
Notional values | 5,800 | 7,200 | |
Protection sold | |||
Credit Derivatives [Line Items] | |||
PRV | 1,300 | 800 | |
NRV | 900 | 1,200 | |
Notional values | 65,400 | 71,400 | |
Protection sold | Broker-dealers | |||
Credit Derivatives [Line Items] | |||
PRV | 200 | 100 | |
NRV | 100 | 200 | |
Notional values | 9,400 | 11,500 | |
Protection sold | Banks | |||
Credit Derivatives [Line Items] | |||
PRV | 400 | 300 | |
NRV | 300 | 500 | |
Notional values | 21,500 | 25,600 | |
Protection sold | Central clearing counterparties | |||
Credit Derivatives [Line Items] | |||
PRV | 700 | 400 | |
NRV | 200 | 300 | |
Notional values | 31,600 | 30,800 | |
Protection sold | Other | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 0 | |
NRV | 300 | 300 | |
Notional values | 2,900 | 3,500 | |
UBS AG | |||
Credit Derivatives [Line Items] | |||
PRV | [1],[3],[6] | 121,843 | 126,212 |
NRV | [1],[3],[6] | 120,880 | 125,723 |
UBS AG | Credit derivative contracts | |||
Credit Derivatives [Line Items] | |||
PRV | [1],[3] | 2,000 | 1,900 |
NRV | [1],[3] | 3,000 | 2,700 |
UBS AG | Protection bought | |||
Credit Derivatives [Line Items] | |||
PRV | 700 | 1,100 | |
NRV | 2,100 | 1,600 | |
Notional values | 74,600 | 81,300 | |
UBS AG | Protection bought | Broker-dealers | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 200 | |
NRV | 200 | 100 | |
Notional values | 10,500 | 13,000 | |
UBS AG | Protection bought | Banks | |||
Credit Derivatives [Line Items] | |||
PRV | 200 | 400 | |
NRV | 400 | 400 | |
Notional values | 23,600 | 29,200 | |
UBS AG | Protection bought | Central clearing counterparties | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 200 | |
NRV | 900 | 400 | |
Notional values | 34,700 | 31,900 | |
UBS AG | Protection bought | Other | |||
Credit Derivatives [Line Items] | |||
PRV | 300 | 300 | |
NRV | 700 | 700 | |
Notional values | 5,800 | 7,200 | |
UBS AG | Protection sold | |||
Credit Derivatives [Line Items] | |||
PRV | 1,300 | 800 | |
NRV | 900 | 1,200 | |
Notional values | 65,400 | 71,400 | |
UBS AG | Protection sold | Broker-dealers | |||
Credit Derivatives [Line Items] | |||
PRV | 200 | 100 | |
NRV | 100 | 200 | |
Notional values | 9,400 | 11,500 | |
UBS AG | Protection sold | Banks | |||
Credit Derivatives [Line Items] | |||
PRV | 400 | 300 | |
NRV | 300 | 500 | |
Notional values | 21,500 | 25,600 | |
UBS AG | Protection sold | Central clearing counterparties | |||
Credit Derivatives [Line Items] | |||
PRV | 700 | 400 | |
NRV | 200 | 300 | |
Notional values | 31,600 | 30,800 | |
UBS AG | Protection sold | Other | |||
Credit Derivatives [Line Items] | |||
PRV | 100 | 0 | |
NRV | 300 | 300 | |
Notional values | $ 2,900 | $ 3,500 | |
[1] | Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in 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] | Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. | ||
[4] | Carrying amount 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. | ||
[5] | 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 | ||
[6] | Financial assets and liabilities are presented net on the balance sheet if UBS AG 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. |
Derivative instruments (Narra_2
Derivative instruments (Narrative) (Detail 2) $ in Billions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
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 | 0.8 |
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 | $ 0.8 |
Financial assets and liabilit_3
Financial assets and liabilities at fair value held for trading (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | $ 127,514 | $ 104,370 | |
Financial liabilities at fair value held for trading | [1],[2],[3] | 30,591 | 28,943 |
Equity instruments | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 96,787 | 72,768 | |
Financial liabilities at fair value held for trading | 22,734 | 21,886 | |
Government bills / bonds | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 11,464 | 11,161 | |
Financial liabilities at fair value held for trading | 3,466 | 2,839 | |
Corporate and municipal bonds | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 7,914 | 6,768 | |
Financial liabilities at fair value held for trading | 3,661 | 3,530 | |
Loans | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 1,971 | 3,566 | |
Investment fund units | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 8,867 | 9,716 | |
Financial liabilities at fair value held for trading | 698 | 689 | |
Asset-backed securities | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 512 | 392 | |
Other | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial liabilities at fair value held for trading | 32 | 0 | |
UBS AG | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 127,695 | 104,513 | |
Financial liabilities at fair value held for trading | 30,591 | 28,949 | |
UBS AG | Equity instruments | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 96,788 | 72,771 | |
Financial liabilities at fair value held for trading | 22,734 | 21,892 | |
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 | 11,464 | 11,161 | |
Financial liabilities at fair value held for trading | 3,466 | 2,839 | |
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 | 8,093 | 6,908 | |
Financial liabilities at fair value held for trading | 3,661 | 3,530 | |
UBS AG | Loans | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial assets at fair value held for trading | 1,971 | 3,566 | |
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 | 8,867 | 9,716 | |
Financial liabilities at fair value held for trading | 698 | 689 | |
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 | 512 | 392 | |
UBS AG | Other | |||
Financial Assets And Liabilities At Fair Value Held For Trading [Line Items] | |||
Financial liabilities at fair value held for trading | $ 32 | $ 0 | |
[1] | Carrying amount 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. | ||
[2] | Contractual maturities of financial liabilities at fair value held for trading are: USD 30 billion due within 1 month (2018: USD 28.3 billion), USD 0.6 billion due between 1 month and 1 year (2018: USD 0.6 billion) and USD 0 billion due between 1 and 5 years (2018: USD 0 billion). | ||
[3] | 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 |
Financial assets at fair valu_3
Financial assets at fair value not held for trading (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | $ 83,944 | $ 82,690 |
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] | 27,686 | 21,446 |
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] | 19,385 | 17,236 |
Government bills / bonds | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | 15,790 | 22,493 |
Loans | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | 11,438 | 8,132 |
Securities financing transactions | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | 6,294 | 9,937 |
Auction-rate securities | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | 1,536 | 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] | 740 | 710 |
Equity instruments | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | 559 | 702 |
Other | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | 515 | 369 |
UBS AG | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | 83,636 | 82,387 |
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] | 27,686 | 21,446 |
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] | 19,385 | 17,236 |
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] | 15,790 | 22,493 |
UBS AG | Loans | |||
Financial Assets At Fair Value Not Held For Trading [Line Items] | |||
Financial assets at fair value not held for trading | [1] | 11,438 | 8,132 |
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] | 6,294 | 9,937 |
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] | 1,536 | 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] | 432 | 407 |
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] | 559 | 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] | $ 515 | $ 369 |
[1] | Refer to Note 24c for more information on product type and fair value hierarchy categorization. |
Financial assets measured at _3
Financial assets measured at fair value through OCI (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Debt instruments | |||
Government and government agencies | [1] | $ 6,162 | $ 6,463 |
of which: USA | [1] | 5,814 | 6,101 |
Banks | [1] | 178 | 149 |
Corporates and other | [1] | 4 | 54 |
Total financial assets measured at fair value through other comprehensive income | [1] | 6,345 | 6,667 |
Unrealized gains - before tax | [1] | 41 | 4 |
Unrealized (losses) - before tax | [1] | (25) | (146) |
Net unrealized gains / (losses) - before tax | [1] | 16 | (143) |
Net unrealized gains / (losses) - after tax | [1] | 15 | (104) |
UBS AG | |||
Debt instruments | |||
Government and government agencies | [1] | 6,162 | 6,463 |
of which: USA | [1] | 5,814 | 6,101 |
Banks | [1] | 178 | 149 |
Corporates and other | [1] | 4 | 54 |
Total financial assets measured at fair value through other comprehensive income | [1] | 6,345 | 6,667 |
Unrealized gains - before tax | [1] | 41 | 4 |
Unrealized (losses) - before tax | [1] | (25) | (146) |
Net unrealized gains / (losses) - before tax | [1] | 16 | (143) |
Net unrealized gains / (losses) - after tax | [1] | $ 15 | $ (104) |
[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. |
Property, equipment and softw_3
Property, equipment and software (Detail) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | $ 9,348 | $ 9,348 | $ 9,057 | |||
Balance at the beginning of the year | $ 9,348 | |||||
Balance at the end of the year | 9,348 | 12,804 | 9,348 | |||
Internally generated software in progress | 787 | |||||
Own use properties in progress | 126 | |||||
Leasehold improvements in progress | 100 | |||||
Cash outflows on lease | 641 | |||||
Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 19,966 | 19,966 | 19,522 | |||
Adjustment from adoption of IFRS 16 | 3,354 | |||||
Balance at the beginning of the year | 23,321 | |||||
Additions | 1,931 | 1,702 | ||||
Disposals / write-offs | [1] | (636) | (849) | |||
Reclassifications | (398) | [2] | (195) | |||
Foreign currency translation | 213 | (213) | ||||
Balance at the end of the year | 23,321 | 24,431 | 23,321 | |||
Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 10,619 | 10,619 | 10,465 | |||
Balance at the beginning of the year | 10,619 | |||||
Depreciation | 1,728 | 1,153 | ||||
Impairment | [3] | 37 | 75 | |||
Disposals / write-offs | [1] | (614) | (840) | |||
Reclassifications | (254) | [2] | (124) | |||
Foreign currency translation | 112 | (111) | ||||
Balance at the end of the year | 10,619 | 11,628 | 10,619 | |||
Owned properties | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 3,179 | 3,179 | ||||
Balance at the beginning of the year | 3,160 | |||||
Balance at the end of the year | 3,160 | 3,184 | 3,160 | |||
Owned properties | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 7,679 | 7,679 | ||||
Adjustment from adoption of IFRS 16 | (20) | |||||
Balance at the beginning of the year | 7,659 | |||||
Additions | 15 | |||||
Disposals / write-offs | [1] | (15) | ||||
Reclassifications | (130) | |||||
Foreign currency translation | 122 | |||||
Balance at the end of the year | 7,659 | 7,650 | 7,659 | |||
Owned properties | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 4,500 | 4,500 | ||||
Adjustment from adoption of IFRS 16 | (1) | |||||
Balance at the beginning of the year | 4,499 | |||||
Depreciation | 161 | |||||
Impairment | [3] | 1 | ||||
Disposals / write-offs | [1] | (15) | ||||
Reclassifications | (256) | |||||
Foreign currency translation | 75 | |||||
Balance at the end of the year | 4,499 | 4,466 | 4,499 | |||
Leased properties and other | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | [4] | 0 | 0 | |||
Balance at the beginning of the year | [4] | 3,378 | ||||
Balance at the end of the year | [4] | 3,378 | 3,226 | 3,378 | ||
Leased properties and other | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Adjustment from adoption of IFRS 16 | [4] | 3,407 | ||||
Balance at the beginning of the year | [4] | 3,407 | ||||
Additions | [4] | 345 | ||||
Disposals / write-offs | [1],[4] | (22) | ||||
Reclassifications | [4] | 0 | ||||
Foreign currency translation | [4] | 14 | ||||
Balance at the end of the year | [4] | 3,407 | 3,745 | 3,407 | ||
Leased properties and other | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Adjustment from adoption of IFRS 16 | [4] | 29 | ||||
Balance at the beginning of the year | [4] | 29 | ||||
Depreciation | [4] | 487 | ||||
Impairment | [3],[4] | 2 | ||||
Disposals / write-offs | [1],[4] | (2) | ||||
Reclassifications | [4] | 0 | ||||
Foreign currency translation | [4] | 4 | ||||
Balance at the end of the year | [4] | 29 | 519 | 29 | ||
Leasehold improvements | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,249 | 1,249 | ||||
Balance at the beginning of the year | 1,249 | |||||
Balance at the end of the year | 1,249 | 1,236 | 1,249 | |||
Leasehold improvements | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 3,122 | 3,122 | ||||
Balance at the beginning of the year | 3,122 | |||||
Additions | 21 | |||||
Disposals / write-offs | [1] | (314) | ||||
Reclassifications | 164 | |||||
Foreign currency translation | 10 | |||||
Balance at the end of the year | 3,122 | 3,004 | 3,122 | |||
Leasehold improvements | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,873 | 1,873 | ||||
Balance at the beginning of the year | 1,873 | |||||
Depreciation | 194 | |||||
Impairment | [3] | 1 | ||||
Disposals / write-offs | [1] | (312) | ||||
Reclassifications | 2 | |||||
Foreign currency translation | 9 | |||||
Balance at the end of the year | 1,873 | 1,768 | 1,873 | |||
IT hardware and communications equipment | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 491 | 491 | ||||
Balance at the beginning of the year | 486 | |||||
Balance at the end of the year | 486 | 506 | 486 | |||
IT hardware and communications equipment | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,568 | 1,568 | ||||
Adjustment from adoption of IFRS 16 | (32) | |||||
Balance at the beginning of the year | 1,535 | |||||
Additions | 178 | |||||
Disposals / write-offs | [1] | (170) | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 16 | |||||
Balance at the end of the year | 1,535 | 1,559 | 1,535 | |||
IT hardware and communications equipment | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,077 | 1,077 | ||||
Adjustment from adoption of IFRS 16 | (28) | |||||
Balance at the beginning of the year | 1,049 | |||||
Depreciation | 165 | |||||
Impairment | [3] | 0 | ||||
Disposals / write-offs | [1] | (169) | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 9 | |||||
Balance at the end of the year | 1,049 | 1,053 | 1,049 | |||
Internally generated software | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 2,882 | 2,882 | ||||
Balance at the beginning of the year | 2,882 | |||||
Balance at the end of the year | 2,882 | 3,270 | 2,882 | |||
Internally generated software | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 5,173 | 5,173 | ||||
Balance at the beginning of the year | 5,173 | |||||
Additions | 73 | |||||
Disposals / write-offs | [1] | (28) | ||||
Reclassifications | 943 | |||||
Foreign currency translation | 15 | |||||
Balance at the end of the year | 5,173 | 6,176 | 5,173 | |||
Internally generated software | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 2,291 | 2,291 | ||||
Balance at the beginning of the year | 2,291 | |||||
Depreciation | 603 | |||||
Impairment | [3] | 30 | ||||
Disposals / write-offs | [1] | (28) | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 9 | |||||
Balance at the end of the year | 2,291 | 2,906 | 2,291 | |||
Purchased software | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 153 | 153 | ||||
Balance at the beginning of the year | 153 | |||||
Balance at the end of the year | 153 | 126 | 153 | |||
Purchased software | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 469 | 469 | ||||
Balance at the beginning of the year | 469 | |||||
Additions | 30 | |||||
Disposals / write-offs | [1] | (20) | ||||
Reclassifications | 2 | |||||
Foreign currency translation | 4 | |||||
Balance at the end of the year | 469 | 485 | 469 | |||
Purchased software | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 316 | 316 | ||||
Balance at the beginning of the year | 316 | |||||
Depreciation | 56 | |||||
Impairment | [3] | 3 | ||||
Disposals / write-offs | [1] | (20) | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 3 | |||||
Balance at the end of the year | 316 | 358 | 316 | |||
Other machines and equipment | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 238 | 238 | ||||
Balance at the beginning of the year | 238 | |||||
Balance at the end of the year | 238 | 241 | 238 | |||
Other machines and equipment | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 799 | 799 | ||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance at the beginning of the year | 799 | |||||
Additions | 23 | |||||
Disposals / write-offs | [1] | (68) | ||||
Reclassifications | 41 | |||||
Foreign currency translation | 4 | |||||
Balance at the end of the year | 799 | 799 | 799 | |||
Other machines and equipment | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 561 | 561 | ||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance at the beginning of the year | 561 | |||||
Depreciation | 62 | |||||
Impairment | [3] | 0 | ||||
Disposals / write-offs | [1] | (68) | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 3 | |||||
Balance at the end of the year | 561 | 559 | 561 | |||
Projects in progress | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,157 | 1,157 | ||||
Balance at the beginning of the year | 1,157 | |||||
Balance at the end of the year | 1,157 | 1,014 | [5] | 1,157 | ||
Projects in progress | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,157 | 1,157 | ||||
Balance at the beginning of the year | 1,157 | |||||
Additions | 1,246 | |||||
Disposals / write-offs | [1] | 0 | ||||
Reclassifications | (1,418) | |||||
Foreign currency translation | 28 | |||||
Balance at the end of the year | 1,157 | 1,014 | 1,157 | |||
Projects in progress | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the beginning of the year | 0 | |||||
Depreciation | 0 | |||||
Impairment | [3] | 0 | ||||
Disposals / write-offs | [1] | 0 | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 0 | |||||
Balance at the end of the year | 0 | 0 | 0 | |||
UBS AG | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 8,479 | 8,479 | 8,191 | |||
Balance at the beginning of the year | 8,479 | |||||
Balance at the end of the year | 8,479 | 11,826 | [6],[7] | 8,479 | ||
Internally generated software in progress | 744 | |||||
Own use properties in progress | 101 | |||||
Leasehold improvements in progress | 98 | |||||
Cash outflows on lease | 614 | |||||
UBS AG | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 18,102 | 18,102 | 17,705 | |||
Adjustment from adoption of IFRS 16 | 3,264 | |||||
Balance at the beginning of the year | 21,365 | |||||
Additions | 1,740 | 1,484 | ||||
Disposals / write-offs | [1] | (554) | (726) | |||
Reclassifications | (391) | [7] | (195) | |||
Foreign currency translation | 169 | (166) | ||||
Balance at the end of the year | 21,365 | 22,329 | 21,365 | |||
UBS AG | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 9,623 | 9,623 | $ 9,514 | |||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance at the beginning of the year | 9,623 | |||||
Depreciation | 1,542 | 984 | ||||
Impairment | 34 | [3] | 67 | |||
Disposals / write-offs | (533) | [1] | (730) | |||
Reclassifications | (248) | [7] | (124) | |||
Foreign currency translation | 86 | (88) | ||||
Balance at the end of the year | 9,623 | 10,503 | 9,623 | |||
UBS AG | Owned properties | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 2,900 | 2,900 | ||||
Balance at the beginning of the year | 2,881 | |||||
Balance at the end of the year | 2,881 | 2,914 | 2,881 | |||
UBS AG | Owned properties | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 7,031 | 7,031 | ||||
Adjustment from adoption of IFRS 16 | (20) | |||||
Balance at the beginning of the year | 7,012 | |||||
Additions | 14 | |||||
Disposals / write-offs | [1] | (9) | ||||
Reclassifications | (135) | |||||
Foreign currency translation | 106 | |||||
Balance at the end of the year | 7,012 | 6,988 | 7,012 | |||
UBS AG | Owned properties | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 4,132 | 4,132 | ||||
Adjustment from adoption of IFRS 16 | (1) | |||||
Balance at the beginning of the year | 4,131 | |||||
Depreciation | 141 | |||||
Impairment | [3] | 1 | ||||
Disposals / write-offs | [1] | (9) | ||||
Reclassifications | (256) | |||||
Foreign currency translation | 66 | |||||
Balance at the end of the year | 4,131 | 4,074 | 4,131 | |||
UBS AG | Leased properties and other | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 0 | 0 | ||||
Balance at the beginning of the year | 3,284 | |||||
Balance at the end of the year | 3,284 | 3,149 | [8] | 3,284 | ||
UBS AG | Leased properties and other | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Adjustment from adoption of IFRS 16 | 3,299 | |||||
Balance at the beginning of the year | 3,299 | |||||
Additions | [8] | 337 | ||||
Disposals / write-offs | [1],[8] | (21) | ||||
Reclassifications | [8] | 0 | ||||
Foreign currency translation | [8] | 15 | ||||
Balance at the end of the year | 3,299 | 3,630 | [8] | 3,299 | ||
UBS AG | Leased properties and other | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Adjustment from adoption of IFRS 16 | 16 | |||||
Balance at the beginning of the year | 16 | |||||
Depreciation | [8] | 463 | ||||
Impairment | [3],[8] | 2 | ||||
Disposals / write-offs | [1],[8] | (2) | ||||
Reclassifications | [8] | 0 | ||||
Foreign currency translation | [8] | 3 | ||||
Balance at the end of the year | 16 | 481 | [8] | 16 | ||
UBS AG | Leasehold improvements | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,200 | 1,200 | ||||
Balance at the beginning of the year | 1,200 | |||||
Balance at the end of the year | 1,200 | 1,188 | 1,200 | |||
UBS AG | Leasehold improvements | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 3,042 | 3,042 | ||||
Balance at the beginning of the year | 3,042 | |||||
Additions | 18 | |||||
Disposals / write-offs | [1] | (312) | ||||
Reclassifications | 158 | |||||
Foreign currency translation | 10 | |||||
Balance at the end of the year | 3,042 | 2,917 | 3,042 | |||
UBS AG | Leasehold improvements | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,842 | 1,842 | ||||
Balance at the beginning of the year | 1,842 | |||||
Depreciation | 184 | |||||
Impairment | [3] | 1 | ||||
Disposals / write-offs | [1] | (310) | ||||
Reclassifications | 3 | |||||
Foreign currency translation | 9 | |||||
Balance at the end of the year | 1,842 | 1,729 | 1,842 | |||
UBS AG | IT hardware and communications equipment | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 269 | 269 | ||||
Balance at the beginning of the year | 268 | |||||
Balance at the end of the year | 268 | 254 | 268 | |||
UBS AG | IT hardware and communications equipment | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,002 | 1,002 | ||||
Adjustment from adoption of IFRS 16 | (15) | |||||
Balance at the beginning of the year | 987 | |||||
Additions | 85 | |||||
Disposals / write-offs | [1] | (108) | ||||
Reclassifications | (3) | |||||
Foreign currency translation | 2 | |||||
Balance at the end of the year | 987 | 963 | 987 | |||
UBS AG | IT hardware and communications equipment | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 733 | 733 | ||||
Adjustment from adoption of IFRS 16 | (15) | |||||
Balance at the beginning of the year | 719 | |||||
Depreciation | 98 | |||||
Impairment | [3] | 0 | ||||
Disposals / write-offs | [1] | (108) | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 1 | |||||
Balance at the end of the year | 719 | 710 | 719 | |||
UBS AG | Internally generated software | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 2,718 | 2,718 | ||||
Balance at the beginning of the year | 2,718 | |||||
Balance at the end of the year | 2,718 | 3,082 | 2,718 | |||
UBS AG | Internally generated software | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 4,879 | 4,879 | ||||
Balance at the beginning of the year | 4,879 | |||||
Additions | 96 | |||||
Disposals / write-offs | [1] | (28) | ||||
Reclassifications | 863 | |||||
Foreign currency translation | 7 | |||||
Balance at the end of the year | 4,879 | 5,817 | 4,879 | |||
UBS AG | Internally generated software | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 2,161 | 2,161 | ||||
Balance at the beginning of the year | 2,161 | |||||
Depreciation | 565 | |||||
Impairment | [3] | 27 | ||||
Disposals / write-offs | [1] | (28) | ||||
Reclassifications | 5 | |||||
Foreign currency translation | 5 | |||||
Balance at the end of the year | 2,161 | 2,735 | 2,161 | |||
UBS AG | Purchased software | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 93 | 93 | ||||
Balance at the beginning of the year | 93 | |||||
Balance at the end of the year | 93 | 69 | 93 | |||
UBS AG | Purchased software | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 303 | 303 | ||||
Balance at the beginning of the year | 303 | |||||
Additions | 9 | |||||
Disposals / write-offs | [1] | (10) | ||||
Reclassifications | 2 | |||||
Foreign currency translation | (1) | |||||
Balance at the end of the year | 303 | 302 | 303 | |||
UBS AG | Purchased software | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 209 | 209 | ||||
Balance at the beginning of the year | 209 | |||||
Depreciation | 33 | |||||
Impairment | [3] | 2 | ||||
Disposals / write-offs | [1] | (10) | ||||
Reclassifications | 0 | |||||
Foreign currency translation | (1) | |||||
Balance at the end of the year | 209 | 233 | 209 | |||
UBS AG | Other machines and equipment | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 223 | 223 | ||||
Balance at the beginning of the year | 223 | |||||
Balance at the end of the year | 223 | 227 | 223 | |||
UBS AG | Other machines and equipment | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 769 | 769 | ||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance at the beginning of the year | 769 | |||||
Additions | 22 | |||||
Disposals / write-offs | [1] | (66) | ||||
Reclassifications | 39 | |||||
Foreign currency translation | 4 | |||||
Balance at the end of the year | 769 | 768 | 769 | |||
UBS AG | Other machines and equipment | Accumulated depreciation | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 546 | 546 | ||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance at the beginning of the year | 546 | |||||
Depreciation | 58 | |||||
Impairment | [3] | 0 | ||||
Disposals / write-offs | [1] | (66) | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 3 | |||||
Balance at the end of the year | 546 | 541 | 546 | |||
UBS AG | Projects in progress | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,076 | 1,076 | ||||
Balance at the beginning of the year | 1,076 | |||||
Balance at the end of the year | 1,076 | 943 | [6] | 1,076 | ||
UBS AG | Projects in progress | Gross carrying amount | ||||||
Disclosure Of Property Equipment Software [Line Items] | ||||||
Balance at the end of the previous year | 1,076 | 1,076 | ||||
Balance at the beginning of the year | 1,076 | |||||
Additions | 1,158 | |||||
Disposals / write-offs | [1] | 0 | ||||
Reclassifications | (1,315) | |||||
Foreign currency translation | 25 | |||||
Balance at the end of the year | 1,076 | 943 | 1,076 | |||
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 | [3] | 0 | ||||
Disposals / write-offs | [1] | 0 | ||||
Reclassifications | 0 | |||||
Foreign currency translation | 0 | |||||
Balance at the end of the year | $ 0 | $ 0 | $ 0 | |||
[1] | Includes write-offs of fully depreciated assets | |||||
[2] | Reflects reclassifications to Properties held for sale. | |||||
[3] | Impairment charges recorded in 2019 generally relate to assets that are no longer used for which the recoverable amount based on a fair value approach was determined to be zero. | |||||
[4] | Represents right-of-use assets recognized by UBS as lessee. Includes immaterial leased IT equipment. The total cash outflow for leases during the year was USD 641 million. Interest expense on lease liabilities is included within Interest expense from financial instruments measured at amortized cost and Lease liabilities are included within Other financial liabilities measured at amortized cost. Refer to Notes 3 and 22a, respectively. Also refer to Note 1 for more information about the nature of UBS’s leasing activities. | |||||
[5] | Consists of USD 787 million related to Internally generated software, USD 126 million related to Owned properties and USD 100 million related to Leasehold improvements. | |||||
[6] | Consists of USD 744 million related to Internally generated software, USD 101 million related to Owned properties and USD 98 million related to Leasehold improvements. | |||||
[7] | Reflects reclassifications to Properties held for sale. | |||||
[8] | Represents right-of-use assets recognized by UBS AG as lessee. Includes immaterial leased IT equipment. The total cash outflow for leases during the year was USD 614 million. Interest expense on lease liabilities is included within Interest expense from financial instruments measured at amortized cost and Lease liabilities are included within Other financial liabilities measured at amortized cost. Refer to Notes 3 and 22a, respectively. Also refer to Note 1 for more information about the nature of UBS’s leasing activities. |
Goodwill and intangible asset_2
Goodwill and intangible assets (Narrative) (Detail) $ in Billions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
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 | UBS considers Asset Management and the Investment Bank, as they are reported in Note 2a, as separate cash-generating units, as that is the level at which the performance of investments (and the related goodwill) is reviewed and assessed by management. The goodwill for Global Wealth Management is separately monitored, and therefore separately considered for impairment, at the level of the two former business divisions Wealth Management and Wealth Management Americas. These business divisions were integrated in 2018 and are referred to in this Note as Global Wealth Management Americas 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. |
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, UBS attributes 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 Treasury 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 amount 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. In addition, they take into account regional differences in risk-free rates, at the level of individual cash-generating units. Consistently, long-term growth rates are determined based on nominal or real GDP growth rate forecasts, depending on the region. 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 balances reported by Global Wealth Management Americas, Global Wealth Management ex Americas and Asset Management. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill attributable to Global Wealth Management Americas, Global Wealth Management ex Americas and Asset Management 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] | |
Carrying amount of cash-generating unit | $ 12.1 |
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 | UBS AG considers Asset Management and the Investment Bank, as they are reported in Note 2a, as separate cash-generating units, as that is the level at which the performance of investments (and the related goodwill) is reviewed and assessed by management. The goodwill for Global Wealth Management is separately monitored, and therefore separately considered for impairment, at the level of the two former business divisions Wealth Management and Wealth Management Americas. These business divisions were integrated in 2018 and are referred to in this Note as Global Wealth Management Americas 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. |
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, UBS attributes 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 Treasury 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 amount 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. In addition, they take into account regional differences in risk-free rates, at the level of individual cash-generating units. Consistently, long-term growth rates are determined based on nominal or real GDP growth rate forecasts, depending on the region. 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 balances reported by Global Wealth Management Americas, Global Wealth Management ex Americas and Asset Management. If the estimated earnings and other assumptions in future periods deviate from the current outlook, the value of goodwill attributable to Global Wealth Management Americas, Global Wealth Management ex Americas and Asset Management 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] | |
Carrying amount of cash-generating unit | $ 12.1 |
Goodwill and intangible asset_3
Goodwill and intangible assets (Detail 1) | Dec. 31, 2019 | Dec. 31, 2018 |
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 | 4.20% | 3.20% |
Discount rates current year | 9.50% | |
Discount rates previous year | 9.50% | |
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 | 3.40% | 3.00% |
Discount rates current year | 8.50% | |
Discount rates previous year | 8.50% | |
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 | 3.00% | 2.70% |
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 | 4.00% | 3.50% |
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 | 4.20% | 3.20% |
Discount rates current year | 9.50% | |
Discount rates previous year | 9.50% | |
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 | 3.40% | 3.00% |
Discount rates current year | 8.50% | |
Discount rates previous year | 8.50% | |
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 | 3.00% | 2.70% |
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 | 4.00% | 3.50% |
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, 2019 | Dec. 31, 2018 | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | $ 6,647 | ||
Balance at the end of the year | 6,469 | $ 6,647 | |
Recoverable amount of the impaired assets | 11,700 | 18 | |
Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 8,018 | 7,888 | |
Additions | 11 | 270 | |
Disposals | (11) | (45) | |
Write-offs | (75) | (7) | |
Foreign currency translation | (12) | (88) | |
Balance at the end of the year | 7,930 | 8,018 | |
Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,371 | 1,325 | |
Amortization | 65 | 62 | |
Impairment | [1] | 110 | 4 |
Disposals | (8) | (1) | |
Write-offs | (75) | (7) | |
Foreign currency translation | (2) | (12) | |
Balance at the end of the year | 1,461 | 1,371 | |
Goodwill | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,392 | ||
Additions | 0 | ||
Impairment | 110 | ||
Disposals | (1) | ||
Foreign currency translation | (9) | ||
Balance at the end of the year | 6,272 | 6,392 | |
Goodwill | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,392 | ||
Additions | 0 | ||
Disposals | (1) | ||
Write-offs | 0 | ||
Foreign currency translation | (9) | ||
Balance at the end of the year | 6,382 | 6,392 | |
Intangible assets - Total | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 254 | ||
Additions | 11 | ||
Amortization | 65 | ||
Impairment | 0 | ||
Disposals | (2) | ||
Foreign currency translation | (1) | ||
Balance at the end of the year | 197 | 254 | |
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 | 1,625 | ||
Additions | 11 | ||
Disposals | (10) | ||
Write-offs | (75) | ||
Foreign currency translation | (3) | ||
Balance at the end of the year | 1,548 | 1,625 | |
Intangible assets - Total | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,371 | ||
Amortization | 65 | ||
Impairment | [1] | 0 | |
Disposals | (8) | ||
Write-offs | (75) | ||
Foreign currency translation | (2) | ||
Balance at the end of the year | 1,351 | 1,371 | |
Intangible assets - Infrastructure | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | [2] | 30 | |
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] | 691 | |
Amortization | [2] | 38 | |
Balance at the end of the year | [2] | 730 | 691 |
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 | 167 | ||
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 | 865 | ||
Additions | 11 | ||
Disposals | (10) | ||
Write-offs | (75) | ||
Foreign currency translation | (3) | ||
Balance at the end of the year | 788 | 865 | |
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 | 679 | ||
Amortization | 27 | ||
Impairment | [1] | 0 | |
Disposals | (8) | ||
Write-offs | (75) | ||
Foreign currency translation | (2) | ||
Balance at the end of the year | 621 | 679 | |
UBS AG | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,647 | ||
Balance at the end of the year | 6,469 | 6,647 | |
Recoverable amount of the impaired assets | 11,700 | 18 | |
UBS AG | Gross carrying amount | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 8,018 | 7,888 | |
Additions | 11 | 270 | |
Disposals | (11) | (45) | |
Write-offs | (75) | (7) | |
Foreign currency translation | (12) | (88) | |
Balance at the end of the year | 7,930 | 8,018 | |
UBS AG | Accumulated depreciation | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 1,371 | 1,325 | |
Amortization | 65 | 62 | |
Impairment | [1] | 110 | 4 |
Disposals | (8) | (1) | |
Write-offs | (75) | (7) | |
Foreign currency translation | (2) | (12) | |
Balance at the end of the year | 1,461 | 1,371 | |
UBS AG | Goodwill | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 6,392 | ||
Additions | 0 | ||
Disposals | (1) | ||
Foreign currency translation | (9) | ||
Balance at the end of the year | 6,272 | 6,392 | |
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 | 6,392 | ||
Additions | 0 | ||
Disposals | (1) | ||
Foreign currency translation | (9) | ||
Balance at the end of the year | 6,382 | 6,392 | |
UBS AG | Intangible assets - Total | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the beginning of the year | 254 | ||
Additions | 11 | ||
Amortization | 65 | ||
Impairment | 0 | ||
Disposals | (2) | ||
Foreign currency translation | (1) | ||
Balance at the end of the year | 197 | 254 | |
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 | 1,625 | ||
Additions | 11 | ||
Disposals | (10) | ||
Write-offs | (75) | ||
Foreign currency translation | (3) | ||
Balance at the end of the year | 1,548 | 1,625 | |
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 | 1,371 | ||
Amortization | 65 | ||
Impairment | [1] | 0 | |
Disposals | (8) | ||
Write-offs | (75) | ||
Foreign currency translation | (2) | ||
Balance at the end of the year | 1,351 | 1,371 | |
UBS AG | Intangible assets - Infrastructure | |||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||
Balance at the end of the year | [1] | 30 | |
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] | 691 | |
Amortization | [1] | 38 | |
Balance at the end of the year | [2] | 730 | 691 |
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 | 167 | ||
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 | 865 | ||
Additions | 11 | ||
Disposals | (10) | ||
Write-offs | (75) | ||
Foreign currency translation | (3) | ||
Balance at the end of the year | 788 | 865 | |
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 | 679 | ||
Amortization | 27 | ||
Impairment | 0 | ||
Disposals | (8) | ||
Write-offs | (75) | ||
Foreign currency translation | (2) | ||
Balance at the end of the year | $ 621 | $ 679 | |
[1] | Impairment charges recorded in 2019 and 2018 relate to assets for which the recoverable amount was determined considering their value-in-use (recoverable amount of the impaired intangible assets in 2018 was USD 18 million, recoverable amount for the Investment Bank cash-generating unit in 2019 was USD 11.7 billion). | ||
[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, 2019USD ($) | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | $ 6,647 |
Balance at the end of the year | 6,469 |
Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 6,392 |
Additions | 0 |
Disposals | (1) |
Impairment | (110) |
Foreign currency translation | (9) |
Balance at the end of the year | 6,272 |
Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 254 |
Additions | 11 |
Disposals | (2) |
Amortization | (65) |
Impairment | 0 |
Foreign currency translation | (1) |
Balance at the end of the year | 197 |
Global Wealth Management Americas | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 3,721 |
Foreign currency translation | (2) |
Balance at the end of the year | 3,719 |
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 | 138 |
Additions | 1 |
Amortization | (45) |
Foreign currency translation | (1) |
Balance at the end of the year | 92 |
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 | 1,206 |
Disposals | (1) |
Foreign currency translation | (6) |
Balance at the end of the year | 1,198 |
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 | 104 |
Disposals | (2) |
Amortization | (12) |
Impairment | 0 |
Foreign currency translation | 1 |
Balance at the end of the year | 92 |
Asset Management | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1,354 |
Foreign currency translation | 1 |
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 | 0 |
Foreign currency translation | 0 |
Balance at the end of the year | 0 |
Investment Bank | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 112 |
Impairment | (110) |
Foreign currency translation | (2) |
Balance at the end of the year | 0 |
Investment Bank | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 11 |
Additions | 0 |
Disposals | 0 |
Amortization | (5) |
Impairment | 0 |
Foreign currency translation | 0 |
Balance at the end of the year | 5 |
Corporate Center | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Additions | 0 |
Foreign currency translation | 0 |
Corporate Center | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1 |
Additions | 10 |
Amortization | (4) |
Foreign currency translation | 0 |
Balance at the end of the year | 7 |
UBS AG | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 6,647 |
Balance at the end of the year | 6,469 |
UBS AG | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 6,392 |
Additions | 0 |
Disposals | (1) |
Foreign currency translation | (9) |
Balance at the end of the year | 6,272 |
UBS AG | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 254 |
Additions | 11 |
Disposals | (2) |
Amortization | (65) |
Impairment | 0 |
Foreign currency translation | (1) |
Balance at the end of the year | 197 |
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 | 3,721 |
Balance at the end of the year | 3,719 |
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 | 138 |
Additions | 1 |
Amortization | (45) |
Foreign currency translation | (1) |
Balance at the end of the year | 92 |
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 | 1,206 |
Balance at the end of the year | 1,198 |
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 | 104 |
Disposals | (2) |
Amortization | (12) |
Impairment | 0 |
Foreign currency translation | 1 |
Balance at the end of the year | 92 |
UBS AG | Asset Management | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1,354 |
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 | 0 |
Foreign currency translation | 0 |
Balance at the end of the year | 0 |
UBS AG | Investment Bank | Goodwill | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 112 |
Balance at the end of the year | 0 |
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 | 11 |
Additions | 0 |
Disposals | 0 |
Amortization | (5) |
Foreign currency translation | 0 |
Balance at the end of the year | 5 |
UBS AG | Corporate Center | Intangible assets | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Balance at the beginning of the year | 1 |
Additions | 10 |
Amortization | (4) |
Foreign currency translation | 0 |
Balance at the end of the year | $ 7 |
Goodwill and intangible asset_6
Goodwill and intangible assets (Detail 4) $ in Millions | Dec. 31, 2019USD ($) |
Estimated Aggregated Amortization Expenses [Line Items] | |
2020 | $ 53 |
2021 | 22 |
2022 | 18 |
2023 | 17 |
2024 | 13 |
Thereafter | 70 |
Not amortized due to indefinite useful life | 2 |
Total | 197 |
UBS AG | |
Estimated Aggregated Amortization Expenses [Line Items] | |
2020 | 53 |
2021 | 22 |
2022 | 18 |
2023 | 17 |
2024 | 13 |
Thereafter | 70 |
Not amortized due to indefinite useful life | 2 |
Total | $ 197 |
Other financial assets measured
Other financial assets measured at amortized cost (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Financial Assets [Line Item] | |||
Debt securities | $ 14,141 | $ 13,562 | |
of which: government bills / bonds | 8,492 | 8,778 | |
Loans to financial advisors | [1] | 2,877 | 3,291 |
Fee- and commission-related receivables | 1,521 | 1,643 | |
Finance lease receivables | [2] | 1,444 | 1,091 |
Settlement and clearing accounts | 587 | 1,050 | |
Accrued interest income | 742 | 694 | |
Other | 1,669 | 1,233 | |
Total other financial assets measured at amortized cost | 22,980 | 22,563 | |
Increase in finance lease receivables upon adoption of IFRS 16 | 176 | ||
UBS AG | |||
Disclosure Of Financial Assets [Line Item] | |||
Debt securities | 14,141 | 13,562 | |
of which: government bills / bonds | 8,492 | 8,778 | |
Loans to financial advisors | [1] | 2,877 | 3,291 |
Fee- and commission-related receivables | 1,520 | 1,644 | |
Finance lease receivables | [2] | 1,444 | 1,091 |
Settlement and clearing accounts | 587 | 1,039 | |
Accrued interest income | 742 | 700 | |
Other | 1,701 | 1,310 | |
Total other financial assets measured at amortized cost | 23,012 | $ 22,637 | |
Increase in finance lease receivables upon adoption of IFRS 16 | $ 176 | ||
[1] | Related to financial advisors in the US and Canada | ||
[2] | Upon adoption of IFRS 16 on 1 January 2019, Finance lease receivables increased by USD 176 million. Refer to Note 1 for more information. |
Other non-financial assets (Det
Other non-financial assets (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other Non-Financial Assets [Line Items] | ||
Precious metals and other physical commodities | $ 4,597 | $ 4,298 |
Bail deposit | 1,293 | 1,312 |
Prepaid expenses | 927 | 990 |
VAT and other tax receivables | 493 | 334 |
Properties and other non-current assets held for sale | 199 | 82 |
Other | 346 | 395 |
Total other non-financial assets | 7,856 | 7,410 |
UBS AG | ||
Other Non-Financial Assets [Line Items] | ||
Precious metals and other physical commodities | 4,597 | 4,298 |
Bail deposit | 1,293 | 1,312 |
Prepaid expenses | 687 | 731 |
VAT and other tax receivables | 436 | 282 |
Properties and other non-current assets held for sale | 199 | 82 |
Other | 335 | 358 |
Total other non-financial assets | $ 7,547 | $ 7,062 |
Amounts due to banks and cust_3
Amounts due to banks and customer deposits (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deposits From Customers [Line Items] | ||
Amounts due to banks | $ 6,570 | $ 10,962 |
Customer deposits | 448,284 | 419,838 |
of which: demand deposits | 176,010 | 181,869 |
of which: retail savings / deposits | 168,581 | 165,790 |
of which: time deposits | 62,315 | 53,624 |
of which: fiduciary deposits | 41,378 | 18,556 |
Total amounts due to banks and customer deposits | 454,854 | 430,801 |
UBS AG | ||
Deposits From Customers [Line Items] | ||
Amounts due to banks | 6,570 | 10,962 |
Customer deposits | 450,591 | 421,986 |
of which: demand deposits | 176,972 | 182,642 |
of which: retail savings / deposits | 168,581 | 165,790 |
of which: time deposits | 63,659 | 54,998 |
of which: fiduciary deposits | 41,378 | 18,556 |
Total amounts due to banks and customer deposits | $ 457,161 | $ 432,948 |
Funding from Group and other su
Funding from Group and other subsidiaries (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Funding From Group And Other Subsidiaries [Line Items] | |||
Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) | $ 217 | $ 0 | |
High-trigger loss-absorbing additional tier 1 capital instruments | 11,931 | 7,785 | |
Low-trigger loss-absorbing additional tier 1 capital instruments | 2,414 | 2,369 | |
UBS AG | |||
Funding From Group And Other Subsidiaries [Line Items] | |||
Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) | 30,105 | 29,988 | |
Senior unsecured debt other than TLAC | 3,389 | 1,031 | |
High-trigger loss-absorbing additional tier 1 capital instruments | 11,958 | 7,805 | |
Low-trigger loss-absorbing additional tier 1 capital instruments | 2,415 | 2,378 | |
Total | [1],[2],[3] | $ 47,866 | $ 41,202 |
[1] | All balances in 2019 are against UBS Group AG as counterparty. Prior year balances were against UBS Group Funding (Switzerland) AG as counterparty | ||
[2] | Represents funding from UBS Group AG to UBS AG. | ||
[3] | UBS AG has also recognized funding from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
Debt issued designated at fai_3
Debt issued designated at fair value (Detail 1) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Issued debt instruments | |||
Equity-linked | [1] | $ 41,722 | $ 34,392 |
Rates-linked | 16,318 | 12,073 | |
Credit-linked | 1,916 | 3,282 | |
Commodity-linked | 1,567 | 1,785 | |
Fixed-rate | 4,636 | 5,099 | |
Other | 649 | 401 | |
of which: debt that contributes to total loss-absorbing capacity | 217 | 0 | |
Total debt issued designated at fair value | 66,809 | 57,031 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 51,031 | 40,289 |
of which: life-to-date own credit (gain) / loss | $ 92 | $ (270) | |
Unsecured portion of issued debt instruments with original maturity greater than one year | 99.00% | 99.00% | |
UBS AG | |||
Issued debt instruments | |||
Equity-linked | [3] | $ 41,722 | $ 34,392 |
Rates-linked | 16,318 | 12,073 | |
Credit-linked | 1,916 | 3,282 | |
Commodity-linked | 1,567 | 1,785 | |
Fixed-rate | 4,636 | 5,099 | |
Other | 432 | 401 | |
of which: debt that contributes to total loss-absorbing capacity | 30,105 | 29,988 | |
Total debt issued designated at fair value | 66,592 | 57,031 | |
of which: issued by UBS AG with original maturity greater than one year | [4] | 51,031 | 40,289 |
of which: life-to-date own credit (gain) / loss | $ 82 | $ (270) | |
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 2019 was unsecured (31 December 2018: more than 99% of the balance was unsecured). | ||
[3] | Includes investment fund unit-linked instruments issued | ||
[4] | 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 2019 was unsecured (31 December 2018: 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, 2019 | Dec. 31, 2018 | ||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | $ 66,809 | $ 57,031 | ||
UBS Group AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 217 | 0 | |
UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 65,668 | 55,370 | |
UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 10,368 | 11,807 | |
UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 55,299 | 43,562 | |
Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 924 | 1,662 | |
Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 520 | 1,230 | |
Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 404 | 431 | |
2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 25,345 | |||
2020 | UBS Group AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
2020 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 25,195 | ||
2020 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,648 | ||
2020 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 21,547 | ||
2020 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 150 | ||
2020 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 48 | ||
2020 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 102 | ||
2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 12,661 | |||
2021 | UBS Group AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
2021 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 12,526 | ||
2021 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,778 | ||
2021 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 10,748 | ||
2021 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 134 | ||
2021 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 92 | ||
2021 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 43 | ||
2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 4,394 | |||
2022 | UBS Group AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
2022 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 4,190 | ||
2022 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 755 | ||
2022 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,435 | ||
2022 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 203 | ||
2022 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 6 | ||
2022 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 197 | ||
2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 2,924 | |||
2023 | UBS Group AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
2023 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,897 | ||
2023 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 288 | ||
2023 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,608 | ||
2023 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 27 | ||
2023 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
2023 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 27 | ||
2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 3,624 | |||
2024 | UBS Group AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
2024 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,624 | ||
2024 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 334 | ||
2024 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,290 | ||
2024 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
2024 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
2024 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 8,840 | |||
2025-2029 | UBS Group AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 0 | ||
2025-2029 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 8,495 | ||
2025-2029 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 386 | ||
2025-2029 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 8,109 | ||
2025-2029 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 345 | ||
2025-2029 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 345 | ||
2025-2029 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 9,021 | |||
Thereafter | UBS Group AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 217 | ||
Thereafter | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 8,740 | ||
Thereafter | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,178 | ||
Thereafter | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 5,562 | ||
Thereafter | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 64 | ||
Thereafter | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 29 | ||
Thereafter | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 35 | ||
UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 66,592 | 57,031 | ||
UBS AG | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 65,668 | [2] | 55,370 | |
UBS AG | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 10,368 | [2] | 11,807 | |
UBS AG | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 55,299 | [2] | 43,562 | |
UBS AG | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 924 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 1,662 | |||
UBS AG | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 520 | [3] | 1,230 | |
UBS AG | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 404 | [3] | $ 431 | |
UBS AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 25,345 | |||
UBS AG | 2020 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 25,195 | ||
UBS AG | 2020 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,648 | ||
UBS AG | 2020 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 21,547 | ||
UBS AG | 2020 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 150 | ||
UBS AG | 2020 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 48 | ||
UBS AG | 2020 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 102 | ||
UBS AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 12,661 | |||
UBS AG | 2021 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 12,526 | ||
UBS AG | 2021 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,778 | ||
UBS AG | 2021 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 10,748 | ||
UBS AG | 2021 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 134 | ||
UBS AG | 2021 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 92 | ||
UBS AG | 2021 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 43 | ||
UBS AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 4,394 | |||
UBS AG | 2022 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 4,190 | ||
UBS AG | 2022 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 755 | ||
UBS AG | 2022 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,435 | ||
UBS AG | 2022 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 203 | ||
UBS AG | 2022 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 6 | ||
UBS AG | 2022 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 197 | ||
UBS AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 2,924 | |||
UBS AG | 2023 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,897 | ||
UBS AG | 2023 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 288 | ||
UBS AG | 2023 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,608 | ||
UBS AG | 2023 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 27 | ||
UBS AG | 2023 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2023 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 27 | ||
UBS AG | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 3,624 | |||
UBS AG | 2024 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,624 | ||
UBS AG | 2024 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 334 | ||
UBS AG | 2024 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,290 | ||
UBS AG | 2024 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2024 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2024 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 8,840 | |||
UBS AG | 2025-2029 | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 8,495 | ||
UBS AG | 2025-2029 | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 386 | ||
UBS AG | 2025-2029 | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 8,109 | ||
UBS AG | 2025-2029 | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 345 | ||
UBS AG | 2025-2029 | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 345 | ||
UBS AG | 2025-2029 | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
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 | 8,804 | |||
UBS AG | Thereafter | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 8,740 | ||
UBS AG | Thereafter | UBS AG | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,178 | ||
UBS AG | Thereafter | UBS AG | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 5,562 | ||
UBS AG | Thereafter | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 64 | ||
UBS AG | Thereafter | Other subsidiaries | Fixed-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 29 | ||
UBS AG | Thereafter | Other subsidiaries | Floating-rate | Non-subordinated debt | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | $ 35 | ||
[1] | Comprises instruments issued by the legal entity UBS Group AG | |||
[2] | Comprises instruments issued by the legal entity UBS AG. | |||
[3] | 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, 2019 | Dec. 31, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |||
Certificates of deposit | $ 5,190 | $ 7,980 | |
Commercial paper | 14,413 | 27,514 | |
Other short-term debt | 2,235 | 3,531 | |
Short-term debt | [1] | 21,837 | 39,025 |
Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) | 30,105 | 29,988 | |
Senior unsecured debt other than TLAC | 25,569 | 33,018 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 22,349 | 32,133 |
Covered bonds | 2,633 | 3,947 | |
Subordinated debt | 21,775 | 17,665 | |
of which: high-trigger loss-absorbing additional tier 1 capital instruments | 11,931 | 7,785 | |
of which: low-trigger loss-absorbing additional tier 1 capital instruments | 2,414 | 2,369 | |
of which: low-trigger loss-absorbing tier 2 capital instruments | 6,892 | 6,808 | |
of which: non-Basel III-compliant tier 2 capital instruments | 540 | 703 | |
Debt issued through the Swiss central mortgage institutions | 8,574 | 8,569 | |
Other long-term debt | 4 | 58 | |
of which: issued by UBS AG with original maturity greater than one year | [2] | 0 | 52 |
Long-term debt | [3] | 88,660 | 93,246 |
Total debt issued measured at amortized cost | [4] | $ 110,497 | $ 132,271 |
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 | $ 5,190 | $ 7,980 | |
Commercial paper | 14,413 | 27,514 | |
Other short-term debt | 2,235 | 3,531 | |
Short-term debt | [5] | 21,837 | 39,025 |
Senior unsecured debt other than TLAC | 22,356 | 32,135 | |
of which: issued by UBS AG with original maturity greater than one year | [6] | 22,349 | 32,133 |
Covered bonds | 2,633 | 3,947 | |
Subordinated debt | 7,431 | 7,511 | |
of which: high-trigger loss-absorbing additional tier 1 capital instruments | 11,958 | 7,805 | |
of which: low-trigger loss-absorbing additional tier 1 capital instruments | 2,415 | 2,378 | |
of which: low-trigger loss-absorbing tier 2 capital instruments | 6,892 | 6,808 | |
of which: non-Basel III-compliant tier 2 capital instruments | 540 | 703 | |
Debt issued through the Swiss central mortgage institutions | 8,574 | 8,569 | |
Other long-term debt | 4 | 58 | |
of which: issued by UBS AG with original maturity greater than one year | [6] | 0 | 52 |
Long-term debt | [7] | 40,998 | 52,220 |
Total debt issued measured at amortized cost | [4] | $ 62,835 | $ 91,245 |
Unsecured portion of senior fixed-rate bonds issued with maturity greater than one year | 100.00% | 100.00% | |
[1] | Debt with an original contractual 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 2019, 100% of the balance was unsecured (31 December 2018: 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. | ||
[5] | Debt with an original contractual 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 2019, 100% of the balance was unsecured (31 December 2018: 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, 2019 | Dec. 31, 2018 | ||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | $ 110,497 | $ 132,271 | ||
2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 37,651 | |||
2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 9,883 | |||
2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 11,659 | |||
2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 9,197 | |||
2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 7,500 | |||
2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 16,987 | |||
Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 17,620 | |||
UBS Group AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 47,662 | 0 | |
UBS Group AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 1,741 | ||
UBS Group AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 2,944 | ||
UBS Group AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 6,182 | ||
UBS Group AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 6,257 | ||
UBS Group AG | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 3,890 | ||
UBS Group AG | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 10,832 | ||
UBS Group AG | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [1] | 15,815 | ||
UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 54,247 | 82,654 | |
UBS AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 35,153 | ||
UBS AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 5,910 | ||
UBS AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 4,626 | ||
UBS AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,989 | ||
UBS AG | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,597 | ||
UBS AG | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,827 | ||
UBS AG | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,145 | ||
UBS AG | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 33,696 | 40,108 | |
UBS AG | Non-subordinated debt | Fixed-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 24,334 | ||
UBS AG | Non-subordinated debt | Fixed-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,978 | ||
UBS AG | Non-subordinated debt | Fixed-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,618 | ||
UBS AG | Non-subordinated debt | Fixed-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,621 | ||
UBS AG | Non-subordinated debt | Fixed-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | Non-subordinated debt | Fixed-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | Non-subordinated debt | Fixed-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,145 | ||
UBS AG | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 13,119 | 35,035 | ||
UBS AG | Non-subordinated debt | Floating-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 10,819 | |||
UBS AG | Non-subordinated debt | Floating-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 1,932 | |||
UBS AG | Non-subordinated debt | Floating-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Non-subordinated debt | Floating-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 368 | |||
UBS AG | Non-subordinated debt | Floating-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Non-subordinated debt | Floating-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Non-subordinated debt | Floating-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 7,431 | |||
UBS AG | Subordinated debt | Fixed-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Fixed-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Fixed-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 2,007 | |||
UBS AG | Subordinated debt | Fixed-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Fixed-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 2,597 | |||
UBS AG | Subordinated debt | Fixed-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 2,827 | |||
UBS AG | Subordinated debt | Fixed-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Floating-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Floating-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Floating-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Floating-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Floating-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Floating-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
UBS AG | Subordinated debt | Floating-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 0 | |||
Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 8,588 | 49,616 | |
Other subsidiaries | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 758 | ||
Other subsidiaries | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,029 | ||
Other subsidiaries | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 851 | ||
Other subsidiaries | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 951 | ||
Other subsidiaries | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,013 | ||
Other subsidiaries | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 3,327 | ||
Other subsidiaries | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 660 | ||
Other subsidiaries | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 8,588 | 33,529 | |
Other subsidiaries | Non-subordinated debt | Fixed-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 758 | ||
Other subsidiaries | Non-subordinated debt | Fixed-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,029 | ||
Other subsidiaries | Non-subordinated debt | Fixed-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 851 | ||
Other subsidiaries | Non-subordinated debt | Fixed-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 951 | ||
Other subsidiaries | Non-subordinated debt | Fixed-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 1,013 | ||
Other subsidiaries | Non-subordinated debt | Fixed-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 3,327 | ||
Other subsidiaries | Non-subordinated debt | Fixed-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 660 | ||
Other subsidiaries | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | 5,933 | |
Other subsidiaries | Non-subordinated debt | Floating-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Non-subordinated debt | Floating-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Non-subordinated debt | Floating-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Non-subordinated debt | Floating-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Non-subordinated debt | Floating-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Non-subordinated debt | Floating-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Non-subordinated debt | Floating-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | [4] | 10,154 |
Other subsidiaries | Subordinated debt | Fixed-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Subordinated debt | Fixed-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Subordinated debt | Fixed-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Subordinated debt | Fixed-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Subordinated debt | Fixed-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Subordinated debt | Fixed-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
Other subsidiaries | Subordinated debt | Fixed-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [3] | 0 | ||
UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 62,835 | 91,245 | ||
UBS AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 35,911 | |||
UBS AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 6,939 | |||
UBS AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 5,477 | |||
UBS AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 2,940 | |||
UBS AG | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 3,610 | |||
UBS AG | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 6,154 | |||
UBS AG | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | 1,805 | |||
UBS AG | UBS AG | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 54,247 | 82,654 | |
UBS AG | UBS AG | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 35,153 | ||
UBS AG | UBS AG | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 5,910 | ||
UBS AG | UBS AG | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 4,626 | ||
UBS AG | UBS AG | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,989 | ||
UBS AG | UBS AG | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,597 | ||
UBS AG | UBS AG | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,827 | ||
UBS AG | UBS AG | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,145 | ||
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 33,696 | 40,108 | |
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 24,334 | ||
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 3,978 | ||
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,618 | ||
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,621 | ||
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Non-subordinated debt | Fixed-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,145 | ||
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 13,119 | 35,035 | |
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 10,819 | ||
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 1,932 | ||
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 368 | ||
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Non-subordinated debt | Floating-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 7,431 | 7,511 | |
UBS AG | UBS AG | Subordinated debt | Fixed-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Subordinated debt | Fixed-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Subordinated debt | Fixed-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,007 | ||
UBS AG | UBS AG | Subordinated debt | Fixed-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | UBS AG | Subordinated debt | Fixed-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,597 | ||
UBS AG | UBS AG | Subordinated debt | Fixed-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 2,827 | ||
UBS AG | UBS AG | Subordinated debt | Fixed-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [2] | 0 | ||
UBS AG | Other subsidiaries | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 8,588 | 8,591 | |
UBS AG | Other subsidiaries | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 758 | ||
UBS AG | Other subsidiaries | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 1,029 | ||
UBS AG | Other subsidiaries | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 851 | ||
UBS AG | Other subsidiaries | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 951 | ||
UBS AG | Other subsidiaries | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 1,013 | ||
UBS AG | Other subsidiaries | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 3,327 | ||
UBS AG | Other subsidiaries | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 660 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 8,588 | 8,590 | |
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 758 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 1,029 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 851 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 951 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 1,013 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 3,327 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Fixed-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 660 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | $ 0 | |
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | Non-subordinated debt | Floating-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 0 | ||
UBS AG | Other subsidiaries | Subordinated debt | Fixed-rate | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 8,588 | ||
UBS AG | Other subsidiaries | Subordinated debt | Fixed-rate | 2020 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 758 | ||
UBS AG | Other subsidiaries | Subordinated debt | Fixed-rate | 2021 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 1,029 | ||
UBS AG | Other subsidiaries | Subordinated debt | Fixed-rate | 2022 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 851 | ||
UBS AG | Other subsidiaries | Subordinated debt | Fixed-rate | 2023 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 951 | ||
UBS AG | Other subsidiaries | Subordinated debt | Fixed-rate | 2024 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 1,013 | ||
UBS AG | Other subsidiaries | Subordinated debt | Fixed-rate | 2025-2029 | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | 3,327 | ||
UBS AG | Other subsidiaries | Subordinated debt | Fixed-rate | Thereafter | ||||
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items] | ||||
Total | [5] | $ 660 | ||
[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] | TLAC and additional tier 1 capital instruments were originally issued by UBS Group Funding (Switzerland) AG, the issuer was replaced by UBS Group AG in 2019. | |||
[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, 2019 | Dec. 31, 2018 | |
Debt Issued Held At Amortized Cost [Line Items] | ||
Hedge accounting impact on carrying amount | $ 1,099 | $ (298) |
UBS AG | ||
Debt Issued Held At Amortized Cost [Line Items] | ||
Hedge accounting impact on carrying amount | $ 574 | $ 282 |
Provisions (Detail)
Provisions (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Other Provisions [Line Items] | |||
Provisions other than provisions for expected credit losses | $ 2,861 | $ 3,377 | $ 3,180 |
Provisions for expected credit losses | 114 | 116 | |
Total provisions | 2,974 | 3,494 | |
UBS AG | |||
Disclosure Of Other Provisions [Line Items] | |||
Provisions other than provisions for expected credit losses | 2,825 | 3,341 | $ 3,130 |
Provisions for expected credit losses | 114 | 116 | |
Total provisions | $ 2,938 | $ 3,457 |
Provisions (Narrative) (Detail)
Provisions (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Other Provisions [Line Items] | |
Description of expected timing of outflows | Onerous contracts for property are recognized when UBS is committed to pay for non-lease components, such as utilities, when a property is vacated or not fully recovered from sub-tenants. 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 event and therefore the estimated costs. |
UBS AG | |
Disclosure Of Other Provisions [Line Items] | |
Description of expected timing of outflows | Onerous contracts for property are recognized when UBS AG is committed to pay for non-lease components, such as utilities, when a property is vacated or not fully recovered from sub-tenants. 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 event and therefore the estimated costs. |
Provisions - additional informa
Provisions - additional information (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | $ 3,377 | $ 3,180 | ||||
Balance at the end of previous year | 3,377 | $ 3,180 | ||||
Additions from acquired companies | 0 | 2 | ||||
Increase in provisions recognized in the income statement | 404 | 1,155 | ||||
Release of provisions recognized in the income statement | 123 | (311) | ||||
Provisions used in conformity with designated purpose | 659 | (628) | ||||
Capitalized reinstatement costs | (1) | 1 | ||||
Foreign currency translation / unwind of discount | (8) | (21) | ||||
Balance at the end of period | 2,861 | 3,377 | ||||
Personnel related restructuring provisions | 40 | 50 | ||||
Personnel related provisions for onerous lease contracts | 61 | 170 | ||||
Real estate related reinstatement costs for leasehold improvements | 89 | 89 | ||||
Real estate related provisions for onerous lease contracts | 11 | 42 | ||||
Operational risks | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 46 | |||||
Balance at the end of previous year | 46 | |||||
Additions from acquired companies | [1] | 0 | ||||
Increase in provisions recognized in the income statement | [1] | 15 | ||||
Release of provisions recognized in the income statement | [1] | 0 | ||||
Provisions used in conformity with designated purpose | [1] | 16 | ||||
Capitalized reinstatement costs | [1] | 0 | ||||
Foreign currency translation / unwind of discount | [1] | (1) | ||||
Balance at the end of period | 44 | 46 | ||||
Litigation, regulatory and similar matters | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 2,827 | [2],[3] | 2,508 | |||
Balance at the end of previous year | 2,827 | |||||
Additions from acquired companies | [2] | 0 | ||||
Increase in provisions recognized in the income statement | 258 | [2] | 905 | [3] | ||
Release of provisions recognized in the income statement | 81 | [2] | (220) | [3] | ||
Provisions used in conformity with designated purpose | 518 | [2] | (350) | [3] | ||
Capitalized reinstatement costs | [2] | 0 | ||||
Foreign currency translation / unwind of discount | [3] | (12) | [2] | (16) | ||
Balance at the end of period | [2],[3] | 2,475 | 2,827 | |||
Restructuring | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 121 | |||||
Balance at the end of previous year | 224 | |||||
Additions from acquired companies | 0 | |||||
Increase in provisions recognized in the income statement | 105 | |||||
Release of provisions recognized in the income statement | 22 | |||||
Provisions used in conformity with designated purpose | 99 | |||||
Capitalized reinstatement costs | 0 | |||||
Foreign currency translation / unwind of discount | 1 | |||||
Balance at the end of period | 106 | [4] | 121 | |||
Real estate | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 102 | |||||
Balance at the end of previous year | 131 | |||||
Additions from acquired companies | 0 | |||||
Increase in provisions recognized in the income statement | 4 | |||||
Release of provisions recognized in the income statement | 0 | |||||
Provisions used in conformity with designated purpose | 7 | |||||
Capitalized reinstatement costs | (1) | |||||
Foreign currency translation / unwind of discount | 1 | |||||
Balance at the end of period | 100 | [5] | 102 | |||
Employee benefits | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 70 | |||||
Balance at the end of previous year | 70 | |||||
Additions from acquired companies | [6] | 0 | ||||
Increase in provisions recognized in the income statement | [6] | 6 | ||||
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] | 1 | ||||
Balance at the end of period | 70 | [6] | 70 | |||
Other | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | [6] | 78 | ||||
Balance at the end of previous year | 78 | |||||
Additions from acquired companies | 0 | |||||
Increase in provisions recognized in the income statement | 16 | |||||
Release of provisions recognized in the income statement | 12 | |||||
Provisions used in conformity with designated purpose | 18 | |||||
Capitalized reinstatement costs | 0 | |||||
Foreign currency translation / unwind of discount | 1 | |||||
Balance at the end of period | 66 | 78 | [6] | |||
UBS AG | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 3,341 | 3,130 | ||||
Balance at the end of previous year | 3,341 | |||||
Additions from acquired companies | 0 | 2 | ||||
Increase in provisions recognized in the income statement | 376 | 1,117 | ||||
Release of provisions recognized in the income statement | (119) | (301) | ||||
Provisions used in conformity with designated purpose | (632) | (587) | ||||
Reclassifications | (1) | 0 | ||||
Foreign currency translation / unwind of discount | (8) | (20) | ||||
Balance at the end of period | 2,825 | 3,341 | ||||
Personnel related restructuring provisions | 33 | 40 | ||||
Personnel related provisions for onerous lease contracts | 61 | 170 | ||||
Real estate related reinstatement costs for leasehold improvements | 82 | 83 | ||||
Real estate related provisions for onerous lease contracts | 10 | 40 | ||||
UBS AG | Operational risks | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 45 | |||||
Balance at the end of previous year | 45 | |||||
Additions from acquired companies | [1] | 0 | ||||
Increase in provisions recognized in the income statement | 13 | |||||
Release of provisions recognized in the income statement | 0 | |||||
Provisions used in conformity with designated purpose | (15) | |||||
Reclassifications | 0 | |||||
Foreign currency translation / unwind of discount | (1) | |||||
Balance at the end of period | 41 | 45 | ||||
UBS AG | Litigation, regulatory and similar matters | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 2,827 | [2],[3] | 2,508 | |||
Balance at the end of previous year | 2,827 | |||||
Additions from acquired companies | [7] | 0 | ||||
Increase in provisions recognized in the income statement | [3] | 258 | [2] | 905 | ||
Release of provisions recognized in the income statement | [3] | (81) | [2] | (220) | ||
Provisions used in conformity with designated purpose | [3] | (518) | [2] | (350) | ||
Reclassifications | [2] | 0 | ||||
Foreign currency translation / unwind of discount | [3] | (12) | [2] | (16) | ||
Balance at the end of period | [2],[3] | 2,475 | 2,827 | |||
UBS AG | Restructuring | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 112 | |||||
Balance at the end of previous year | 215 | |||||
Additions from acquired companies | 0 | |||||
Increase in provisions recognized in the income statement | 87 | |||||
Release of provisions recognized in the income statement | (19) | |||||
Provisions used in conformity with designated purpose | (83) | |||||
Reclassifications | 0 | |||||
Foreign currency translation / unwind of discount | 1 | |||||
Balance at the end of period | 99 | [7] | 112 | |||
UBS AG | Real estate | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 94 | |||||
Balance at the end of previous year | 122 | |||||
Additions from acquired companies | 0 | |||||
Increase in provisions recognized in the income statement | 4 | |||||
Release of provisions recognized in the income statement | 0 | |||||
Provisions used in conformity with designated purpose | (7) | |||||
Reclassifications | 0 | |||||
Foreign currency translation / unwind of discount | 1 | |||||
Balance at the end of period | 92 | [8] | 94 | |||
UBS AG | Employee benefits | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | 55 | |||||
Balance at the end of previous year | 55 | |||||
Additions from acquired companies | [6] | 0 | ||||
Increase in provisions recognized in the income statement | [6] | 6 | ||||
Release of provisions recognized in the income statement | [6] | (7) | ||||
Provisions used in conformity with designated purpose | [6] | 0 | ||||
Reclassifications | [6] | 0 | ||||
Foreign currency translation / unwind of discount | [6] | 0 | ||||
Balance at the end of period | 54 | [6] | 55 | |||
UBS AG | Other | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the beginning of period | [6] | 77 | ||||
Balance at the end of previous year | 77 | |||||
Additions from acquired companies | 0 | |||||
Increase in provisions recognized in the income statement | 8 | |||||
Release of provisions recognized in the income statement | (12) | |||||
Provisions used in conformity with designated purpose | (9) | |||||
Reclassifications | (1) | |||||
Foreign currency translation / unwind of discount | 1 | |||||
Balance at the end of period | $ 64 | $ 77 | [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, item 4 and item 7) and Corporate Center (item 2). Provisions, if any, for the matters described in items 1 and 6 of this disclosure are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this disclosure in item 5 are allocated between the Investment Bank and Corporate Center. | |||||
[4] | Primarily consists of personnel-related restructuring provisions of USD 40 million as of 31 December 2019 (31 December 2018: USD 50 million) and provisions for onerous contracts of USD 61 million as of 31 December 2019 (31 December 2018: USD 170 million). | |||||
[5] | Consists of reinstatement costs for leasehold improvements of USD 89 million as of 31 December 2019 (31 December 2018: USD 89 million) and provisions for onerous contracts of USD 11 million as of 31 December 2019 (31 December 2018: USD 42 million). | |||||
[6] | Includes provisions for sabbatical and anniversary awards. | |||||
[7] | Comprises provisions for losses resulting from legal, liability and compliance risks. | |||||
[8] | Primarily consists of personnel-related restructuring provisions of USD 33 million as of 31 December 2019 (31 December 2018: USD 40 million) and provisions for onerous contracts of USD 61 million as of 31 December 2019 (31 December 2018: USD 170 million). |
Provisions - additional infor_2
Provisions - additional information (Detail 2) - USD ($) $ in Millions | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | ||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | $ 3,377 | $ 3,180 | ||||
Adjustment from adoption of IFRS 16 | $ 132 | (132) | 0 | |||
Balance | 3,377 | 3,180 | $ 2,861 | |||
Operational risks | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 46 | |||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance | 46 | 44 | ||||
Litigation, regulatory and similar matters | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 2,827 | |||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance | 2,827 | [1],[2] | 2,508 | 2,475 | [1],[2] | |
Restructuring | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 224 | |||||
Adjustment from adoption of IFRS 16 | (103) | |||||
Balance | 121 | 106 | [3] | |||
Real estate | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 131 | |||||
Adjustment from adoption of IFRS 16 | (29) | |||||
Balance | 102 | 100 | [4] | |||
Employee benefits | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 70 | |||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance | 70 | 70 | [5] | |||
Other | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 78 | |||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance | 78 | [5] | 66 | |||
UBS AG | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 3,341 | |||||
Adjustment from adoption of IFRS 16 | $ 131 | (131) | 0 | |||
Balance | 3,341 | 3,130 | 2,825 | |||
UBS AG | Operational risks | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 45 | |||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance | 45 | 41 | ||||
UBS AG | Litigation, regulatory and similar matters | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 2,827 | |||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance | 2,827 | [1],[2] | $ 2,508 | 2,475 | [1],[2] | |
UBS AG | Restructuring | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 215 | |||||
Adjustment from adoption of IFRS 16 | (103) | |||||
Balance | 112 | 99 | [6] | |||
UBS AG | Real estate | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 122 | |||||
Adjustment from adoption of IFRS 16 | (28) | |||||
Balance | 94 | 92 | [7] | |||
UBS AG | Employee benefits | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 55 | |||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance | 55 | 54 | [5] | |||
UBS AG | Other | ||||||
Disclosure Of Other Provisions [Line Items] | ||||||
Balance at the end of previous year | 77 | |||||
Adjustment from adoption of IFRS 16 | 0 | |||||
Balance | $ 77 | [5] | $ 64 | |||
[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, item 4 and item 7) and Corporate Center (item 2). Provisions, if any, for the matters described in items 1 and 6 of this disclosure are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this disclosure in item 5 are allocated between the Investment Bank and Corporate Center. | |||||
[3] | Primarily consists of personnel-related restructuring provisions of USD 40 million as of 31 December 2019 (31 December 2018: USD 50 million) and provisions for onerous contracts of USD 61 million as of 31 December 2019 (31 December 2018: USD 170 million). | |||||
[4] | Consists of reinstatement costs for leasehold improvements of USD 89 million as of 31 December 2019 (31 December 2018: USD 89 million) and provisions for onerous contracts of USD 11 million as of 31 December 2019 (31 December 2018: USD 42 million). | |||||
[5] | Includes provisions for sabbatical and anniversary awards. | |||||
[6] | Comprises provisions for losses resulting from legal, liability and compliance risks. | |||||
[7] | Primarily consists of personnel-related restructuring provisions of USD 33 million as of 31 December 2019 (31 December 2018: USD 40 million) and provisions for onerous contracts of USD 61 million as of 31 December 2019 (31 December 2018: USD 170 million). |
Litigation, regulatory and si_3
Litigation, regulatory and similar matters (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | ||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | $ 3,377 | $ 3,180 | |||
Increase in provisions recognized in the income statement | 404 | 1,155 | |||
Release of provisions recognized in the income statement | 123 | (311) | |||
Provisions used in conformity with designated purpose | 659 | (628) | |||
Foreign currency translation / unwind of discount | (8) | (21) | |||
Balance at the end of period | 2,861 | 3,377 | |||
Litigation, regulatory and similar matters | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 2,827 | [1],[2] | 2,508 | ||
Increase in provisions recognized in the income statement | 258 | [1] | 905 | [2] | |
Release of provisions recognized in the income statement | 81 | [1] | (220) | [2] | |
Provisions used in conformity with designated purpose | 518 | [1] | (350) | [2] | |
Foreign currency translation / unwind of discount | [2] | (12) | [1] | (16) | |
Balance at the end of period | [1],[2] | 2,475 | 2,827 | ||
Litigation, regulatory and similar matters | Global Wealth Management | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [2] | 1,003 | |||
Increase in provisions recognized in the income statement | [2] | 188 | |||
Release of provisions recognized in the income statement | [2] | (49) | |||
Provisions used in conformity with designated purpose | [2] | (350) | |||
Foreign currency translation / unwind of discount | [2] | (10) | |||
Balance at the end of period | [2] | 782 | 1,003 | ||
Litigation, regulatory and similar matters | Personal & Corporate Banking | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [2] | 117 | |||
Increase in provisions recognized in the income statement | [2] | 1 | |||
Release of provisions recognized in the income statement | [2] | 0 | |||
Provisions used in conformity with designated purpose | [2] | (4) | |||
Foreign currency translation / unwind of discount | [2] | (1) | |||
Balance at the end of period | [2] | 113 | 117 | ||
Litigation, regulatory and similar matters | Asset Management | |||||
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 | Investment Bank | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [2] | 269 | |||
Increase in provisions recognized in the income statement | [2] | 60 | |||
Release of provisions recognized in the income statement | [2] | (6) | |||
Provisions used in conformity with designated purpose | [2] | (66) | |||
Foreign currency translation / unwind of discount | [2] | (2) | |||
Balance at the end of period | [2] | 255 | 269 | ||
Litigation, regulatory and similar matters | Corporate Center | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [2] | 1,438 | |||
Increase in provisions recognized in the income statement | [2] | 10 | |||
Release of provisions recognized in the income statement | [2] | (27) | |||
Provisions used in conformity with designated purpose | [2] | (97) | |||
Foreign currency translation / unwind of discount | [2] | 0 | |||
Balance at the end of period | [2] | 1,325 | 1,438 | ||
UBS AG | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 3,341 | 3,130 | |||
Increase in provisions recognized in the income statement | 376 | 1,117 | |||
Release of provisions recognized in the income statement | (119) | (301) | |||
Provisions used in conformity with designated purpose | (632) | (587) | |||
Foreign currency translation / unwind of discount | (8) | (20) | |||
Balance at the end of period | 2,825 | 3,341 | |||
UBS AG | Litigation, regulatory and similar matters | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | 2,827 | [1],[2] | 2,508 | ||
Increase in provisions recognized in the income statement | [2] | 258 | [1] | 905 | |
Release of provisions recognized in the income statement | [2] | (81) | [1] | (220) | |
Provisions used in conformity with designated purpose | [2] | (518) | [1] | (350) | |
Foreign currency translation / unwind of discount | [2] | (12) | [1] | (16) | |
Balance at the end of period | [1],[2] | 2,475 | 2,827 | ||
UBS AG | Litigation, regulatory and similar matters | Global Wealth Management | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [2] | 1,003 | |||
Increase in provisions recognized in the income statement | [2] | 188 | |||
Release of provisions recognized in the income statement | [2] | (49) | |||
Provisions used in conformity with designated purpose | [2] | (350) | |||
Foreign currency translation / unwind of discount | [2] | (10) | |||
Balance at the end of period | [2] | 782 | 1,003 | ||
UBS AG | Litigation, regulatory and similar matters | Personal & Corporate Banking | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [2] | 117 | |||
Increase in provisions recognized in the income statement | [2] | 1 | |||
Release of provisions recognized in the income statement | [2] | 0 | |||
Provisions used in conformity with designated purpose | [2] | (4) | |||
Foreign currency translation / unwind of discount | [2] | (1) | |||
Balance at the end of period | [2] | 113 | 117 | ||
UBS AG | Litigation, regulatory and similar matters | Asset Management | |||||
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 | Investment Bank | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [2] | 269 | |||
Increase in provisions recognized in the income statement | [2] | 60 | |||
Release of provisions recognized in the income statement | [2] | (6) | |||
Provisions used in conformity with designated purpose | [2] | (66) | |||
Foreign currency translation / unwind of discount | [2] | (2) | |||
Balance at the end of period | [2] | 255 | 269 | ||
UBS AG | Litigation, regulatory and similar matters | Corporate Center | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance at the beginning of period | [2] | 1,438 | |||
Increase in provisions recognized in the income statement | [2] | 10 | |||
Release of provisions recognized in the income statement | [2] | (27) | |||
Provisions used in conformity with designated purpose | [2] | (97) | |||
Foreign currency translation / unwind of discount | [2] | 0 | |||
Balance at the end of period | [2] | $ 1,325 | $ 1,438 | ||
[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, item 4 and item 7) and Corporate Center (item 2). Provisions, if any, for the matters described in items 1 and 6 of this disclosure are allocated between Global Wealth Management and Personal & Corporate Banking, and provisions, if any, for the matters described in this disclosure in item 5 are allocated between the Investment Bank and Corporate Center. |
Litigation, regulatory and si_4
Litigation, regulatory and similar matters (Narrative) (Detail 1) | 12 Months Ended |
Dec. 31, 2019 | |
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 was subject to probation, which ended in early 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 was subject to probation, which ended in early 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) - 12 months ended Dec. 31, 2019 € in Millions, $ in Millions, $ in Millions, $ in Millions | EUR (€) | HKD ($) | SGD ($) | USD ($) | USD ($) |
Inquiries regarding cross-border wealth management businesses | Investigations in France | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Fine provided in announcement of French Court | $ 3,700 | ||||
Civil Damage Award announcement of French Court | 800 | ||||
Provision recorded to cover pending legal case | € 450 | $ 505 | |||
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 | ||||
Inquiries regarding cross-border wealth management businesses | Investigations in Italy involving UBS AG | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Settlement made | € | 101 | ||||
Inquiries regarding cross-border wealth management businesses | Investigations in Italy involving UBS AG, UBS Switzerland and UBS Monaco | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Settlement made | € | 10.3 | ||||
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 | ||||
Madoff | claims filed in the US by BMIS Trustee against UBS entities and various other parties | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Amounts claimed | 125 | ||||
Minimum total claims against all defendants | 2,000 | ||||
Puerto Rico | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Amount in dispute | 125 | ||||
Puerto Rico | Customer arbitration claims | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Amounts claimed | 3,400 | ||||
Claimed damages that have been resolved | 2,400 | ||||
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 | 800 | ||||
Amount of bonds issued and underwritten by the System | 3,000 | ||||
Puerto Rico | claims filed by two US insurance companies that insured issues of Puerto Rico municipal bonds | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Minimum total claims against all defendants | 955 | ||||
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 | ||||
Agreed settlement pending approval | 10 | ||||
Foreign exchange, LIBOR and benchmark rates, and other trading practices - Government Sponsored Entities Bonds matters | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Agreed settlement pending approval | 250 | ||||
Securities transaction pricing and disclosure investigation | Hong Kong Securities and Futures Commission (SFC) matter | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Settlement made | $ 400 | 51 | |||
Securities transaction pricing and disclosure investigation | Monetary Authority of Singapore (MAS) matter | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Settlement made | $ 11 | 8.3 | |||
Customer restitution | 47 | ||||
UBS AG | Inquiries regarding cross-border wealth management businesses | Investigations in France | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Fine provided in announcement of French Court | 3,700 | ||||
Civil Damage Award announcement of French Court | 800 | ||||
Provision recorded to cover pending legal case | 450 | $ 505 | |||
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 | Inquiries regarding cross-border wealth management businesses | Investigations in Italy involving UBS AG | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Settlement made | € | 101 | ||||
UBS AG | Inquiries regarding cross-border wealth management businesses | Investigations in Italy involving UBS AG, UBS Switzerland and UBS Monaco | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Settlement made | € | 10.3 | ||||
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 | ||||
UBS AG | Madoff | claims filed in the US by BMIS Trustee against UBS entities and various other parties | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Amounts claimed | 125 | ||||
Minimum total claims against all defendants | 2,000 | ||||
UBS AG | Puerto Rico | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Amount in dispute | 125 | ||||
UBS AG | Puerto Rico | Customer arbitration claims | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Amounts claimed | 3,400 | ||||
Claimed damages that have been resolved | 2,400 | ||||
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 | 800 | ||||
Amount of bonds issued and underwritten by the System | 3,000 | ||||
UBS AG | Puerto Rico | claims filed by two US insurance companies that insured issues of Puerto Rico municipal bonds | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Minimum total claims against all defendants | 955 | ||||
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 | ||||
Agreed settlement pending approval | 10 | ||||
UBS AG | Foreign exchange, LIBOR and benchmark rates, and other trading practices - Government Sponsored Entities Bonds matters | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Agreed settlement pending approval | 250 | ||||
UBS AG | Securities transaction pricing and disclosure investigation | Hong Kong Securities and Futures Commission (SFC) matter | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Settlement made | $ 400 | 51 | |||
UBS AG | Securities transaction pricing and disclosure investigation | Monetary Authority of Singapore (MAS) matter | |||||
Disclosure Of Litigation Regulatory And Similar Matters [Line Items] | |||||
Settlement made | $ 11 | 8.3 | |||
Customer restitution | $ 47 |
Other financial liabilities mea
Other financial liabilities measured at amortized cost (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | ||||
Other accrued expenses | $ 1,928 | $ 2,192 | ||
Accrued interest expenses | 1,562 | 1,544 | ||
Settlement and clearing accounts | 1,379 | 1,486 | ||
Lease liabilities | 3,943 | [1] | $ 4,057 | |
Other | 900 | 1,663 | ||
Total other financial liabilities measured at amortized cost | 9,712 | 6,885 | ||
UBS AG | ||||
Disclosure Of Financial Liabilities [Line Items] | ||||
Other accrued expenses | 1,697 | 1,911 | ||
Accrued interest expenses | 1,596 | 1,501 | ||
Settlement and clearing accounts | 1,368 | 1,477 | ||
Lease liabilities | 3,858 | [2] | $ 3,956 | |
Other | 1,854 | 2,688 | ||
Total other financial liabilities measured at amortized cost | $ 10,373 | $ 7,576 | ||
[1] | Relates to the adoption of IFRS 16 on 1 January 2019. Refer to Note 1 for more information. | |||
[2] | Relates to the adoption of IFRS 16 on 1 January 2019. Refer to Note 1 for more information. |
Other financial liabilities des
Other financial liabilities designated at fair value (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Financial Liabilities [Line Items] | |||
Financial liabilities related to unit-linked investment contracts | $ 28,145 | $ 21,679 | |
Securities financing transactions | 5,742 | 9,461 | |
Over-the-counter debt instruments | 2,022 | 2,450 | |
of which: life-to-date own credit (gain) / loss | (4) | (51) | |
Other | 31 | 5 | |
Total other financial liabilities designated at fair value | [1] | 35,940 | 33,594 |
UBS AG | |||
Disclosure Of Financial Liabilities [Line Items] | |||
Financial liabilities related to unit-linked investment contracts | 28,145 | 21,679 | |
Securities financing transactions | 5,742 | 9,461 | |
Over-the-counter debt instruments | 2,022 | 2,450 | |
of which: life-to-date own credit (gain) / loss | (4) | (51) | |
Funding from UBS Group AG and its subsidiaries | 217 | ||
Other | 31 | 5 | |
Total other financial liabilities designated at fair value | [1] | $ 36,157 | $ 33,594 |
[1] | As of 31 December 2019 and 31 December 2018, 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 amount. |
Other non-financial liabilities
Other non-financial liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Other Non-Financial Liabilities [Line Items] | |||
Compensation-related liabilities | $ 6,812 | $ 7,278 | |
of which: Deferred Contingent Capital Plan | 1,855 | 1,983 | |
of which: financial advisor compensation plans | 1,463 | 1,458 | |
of which: other compensation plans | 2,310 | 2,480 | |
of which: net defined benefit pension and post-employment liabilities | 633 | 775 | |
of which: other compensation-related liabilities | [1] | 552 | 581 |
Current and deferred tax liabilities | 1,163 | 1,002 | |
VAT and other tax payables | 475 | 431 | |
Deferred income | 141 | 215 | |
Other | 202 | 98 | |
Total other non-financial liabilities | 8,794 | 9,022 | |
UBS AG | |||
Other Non-Financial Liabilities [Line Items] | |||
Compensation-related liabilities | 4,296 | 4,645 | |
of which: financial advisor compensation plans | 1,459 | 1,454 | |
of which: other compensation plans | 1,750 | 1,929 | |
of which: net defined benefit pension and post-employment liabilities | 629 | 773 | |
of which: other compensation-related liabilities | [1] | 458 | 490 |
Current and deferred tax liabilities | 1,091 | 915 | |
VAT and other tax payables | 445 | 403 | |
Deferred income | 134 | 215 | |
Other | 202 | 98 | |
Total other non-financial liabilities | $ 6,168 | $ 6,275 | |
[1] | Includes liabilities for payroll taxes and untaken vacation. |
Expected credit loss measurem_9
Expected credit loss measurement - ECL selection of key macro-economic variables (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Upside ECL scenario | Within 1 year | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.20% |
Upside ECL scenario | Within 1 year | Real GDP growth (%) | United States | |
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 (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.60% |
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 | 1.50% |
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 | 3.10% |
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 | 2.10% |
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 | (0.30%) |
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 | (0.90%) |
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 | (1.40%) |
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 | 0.65% |
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 | 0.73% |
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 | 6.20% |
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 | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.40% |
Upside ECL scenario | cumulative 3-year | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.90% |
Upside ECL scenario | cumulative 3-year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 9.50% |
Upside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.50% |
Upside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 8.60% |
Upside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.70% |
Upside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.80%) |
Upside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.90%) |
Upside ECL scenario | cumulative 3-year | 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 | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.741% |
Upside ECL scenario | cumulative 3-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 | 2.217% |
Upside ECL scenario | cumulative 3-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 | 2.83% |
Upside ECL scenario | cumulative 3-year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 42.70% |
Upside ECL scenario | cumulative 3-year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 44.30% |
Upside ECL scenario | cumulative 3-year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 42.20% |
Upside ECL scenario | cumulative 3-year | 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 | 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% |
Upside ECL scenario | cumulative 3-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 | 15.40% |
Baseline ECL scenario | Within 1 year | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.50% |
Baseline ECL scenario | Within 1 year | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.90% |
Baseline ECL scenario | Within 1 year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.00% |
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 | 0.80% |
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 | 1.80% |
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 | 1.30% |
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 | 0.10% |
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 | (0.40%) |
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 | (0.10%) |
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 | 0.002% |
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 | 0.084% |
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 | 0.095% |
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 | 3.50% |
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 | 0.50% |
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 | 1.40% |
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 | 0.10% |
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 | 4.00% |
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 | 1.20% |
Baseline ECL scenario | cumulative 3-year | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.80% |
Baseline ECL scenario | cumulative 3-year | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.40% |
Baseline ECL scenario | cumulative 3-year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.80% |
Baseline ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.70% |
Baseline ECL scenario | cumulative 3-year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.20% |
Baseline ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.30% |
Baseline ECL scenario | cumulative 3-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 | cumulative 3-year | 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 | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.20%) |
Baseline ECL scenario | cumulative 3-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 | 0.101% |
Baseline ECL scenario | cumulative 3-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 | 0.282% |
Baseline ECL scenario | cumulative 3-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 | 0.30% |
Baseline ECL scenario | cumulative 3-year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 9.50% |
Baseline ECL scenario | cumulative 3-year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.40% |
Baseline ECL scenario | cumulative 3-year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.30% |
Baseline ECL scenario | cumulative 3-year | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.30% |
Baseline ECL scenario | cumulative 3-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 | 16.70% |
Baseline ECL scenario | cumulative 3-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 | 2.20% |
Mild downside ECL scenario | Within 1 year | Real GDP growth (%) | 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 | Real GDP growth (%) | 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 (%) | 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 | 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 | 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 | Unemployment rate (%, average) | Switzerland | |
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 | Unemployment rate (%, average) | United States | |
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 | Unemployment rate (%, average) | Eurozone | |
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 | 1.125% |
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 | (4.00%) |
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 | (1.20%) |
Mild downside ECL scenario | cumulative 3-year | Real GDP growth (%) | 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 | Real GDP growth (%) | 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 | Real GDP growth (%) | 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 | 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 | 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 | 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 | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.20% |
Mild downside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | United States | |
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 | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.00% |
Mild downside ECL scenario | cumulative 3-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 | 2.625% |
Mild downside ECL scenario | cumulative 3-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 | 2.25% |
Mild downside ECL scenario | cumulative 3-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 | 2.625% |
Mild downside ECL scenario | cumulative 3-year | 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 | 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 | 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 | 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 | 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 | (11.90%) |
Mild downside ECL scenario | cumulative 3-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 | (6.80%) |
Severe downside ECL scenario | Within 1 year | Real GDP growth (%) | 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 | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (6.40%) |
Severe downside ECL scenario | Within 1 year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (9.10%) |
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 | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.20%) |
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 | (1.30%) |
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 | 2.60% |
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 | 5.70% |
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 | 5.60% |
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 | (1.00%) |
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 | (0.30%) |
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 | (0.70%) |
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 | (53.00%) |
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 | (60.00%) |
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 | (13.30%) |
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 | (23.00%) |
Severe downside ECL scenario | cumulative 3-year | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (6.20%) |
Severe downside ECL scenario | cumulative 3-year | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (4.30%) |
Severe downside ECL scenario | cumulative 3-year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (10.80%) |
Severe downside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.60%) |
Severe downside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | United States | |
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 | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.70%) |
Severe downside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | Switzerland | |
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 | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.60% |
Severe downside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 7.90% |
Severe downside ECL scenario | cumulative 3-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 | (0.75%) |
Severe downside ECL scenario | cumulative 3-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 | cumulative 3-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 | (0.35%) |
Severe downside ECL scenario | cumulative 3-year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (42.90%) |
Severe downside ECL scenario | cumulative 3-year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (52.90%) |
Severe downside ECL scenario | cumulative 3-year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (46.80%) |
Severe downside ECL scenario | cumulative 3-year | 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 | 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 | (23.40%) |
Severe downside ECL scenario | cumulative 3-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 | (33.20%) |
UBS AG | Upside ECL scenario | Within 1 year | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.20% |
UBS AG | Upside ECL scenario | Within 1 year | Real GDP growth (%) | United States | |
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 (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 3.60% |
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 | 1.50% |
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 | 3.10% |
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 | 2.10% |
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 | (0.30%) |
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 | (0.90%) |
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 | (1.40%) |
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 | 0.65% |
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 | 0.73% |
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 | 6.20% |
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 | Real GDP growth (%) | Switzerland | |
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 | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 10.90% |
UBS AG | Upside ECL scenario | cumulative 3-year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 9.50% |
UBS AG | Upside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.50% |
UBS AG | Upside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 8.60% |
UBS AG | Upside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.70% |
UBS AG | Upside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.80%) |
UBS AG | Upside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.90%) |
UBS AG | Upside ECL scenario | cumulative 3-year | 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 | Fixed income: 10-year government bonds (bps) | USD | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.741% |
UBS AG | Upside ECL scenario | cumulative 3-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 | 2.217% |
UBS AG | Upside ECL scenario | cumulative 3-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 | 2.83% |
UBS AG | Upside ECL scenario | cumulative 3-year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 42.70% |
UBS AG | Upside ECL scenario | cumulative 3-year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 44.30% |
UBS AG | Upside ECL scenario | cumulative 3-year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 42.20% |
UBS AG | Upside ECL scenario | cumulative 3-year | 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 | 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 | Upside ECL scenario | cumulative 3-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 | 15.40% |
UBS AG | Baseline ECL scenario | Within 1 year | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.50% |
UBS AG | Baseline ECL scenario | Within 1 year | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.90% |
UBS AG | Baseline ECL scenario | Within 1 year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.00% |
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 | 0.80% |
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 | 1.80% |
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 | 1.30% |
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 | 0.10% |
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 | (0.40%) |
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 | (0.10%) |
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 | 0.002% |
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 | 0.084% |
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 | 0.095% |
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 | 3.50% |
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 | 0.50% |
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 | 1.40% |
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 | 0.10% |
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 | 4.00% |
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 | 1.20% |
UBS AG | Baseline ECL scenario | cumulative 3-year | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.80% |
UBS AG | Baseline ECL scenario | cumulative 3-year | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.40% |
UBS AG | Baseline ECL scenario | cumulative 3-year | Real GDP growth (%) | Eurozone | |
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 | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.70% |
UBS AG | Baseline ECL scenario | cumulative 3-year | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 6.20% |
UBS AG | Baseline ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.30% |
UBS AG | Baseline ECL scenario | cumulative 3-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 | cumulative 3-year | 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 | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (0.20%) |
UBS AG | Baseline ECL scenario | cumulative 3-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 | 0.101% |
UBS AG | Baseline ECL scenario | cumulative 3-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 | 0.282% |
UBS AG | Baseline ECL scenario | cumulative 3-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 | 0.30% |
UBS AG | Baseline ECL scenario | cumulative 3-year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 9.50% |
UBS AG | Baseline ECL scenario | cumulative 3-year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 4.40% |
UBS AG | Baseline ECL scenario | cumulative 3-year | Equity indices (% change) | SPI | |
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 | Swiss real estate (% change) | Single Family Homes | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 2.30% |
UBS AG | Baseline ECL scenario | cumulative 3-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 | 16.70% |
UBS AG | Baseline ECL scenario | cumulative 3-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 | 2.20% |
UBS AG | Mild downside ECL scenario | Within 1 year | Real GDP growth (%) | 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 | Real GDP growth (%) | 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 (%) | 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 | 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 | 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 | Unemployment rate (%, average) | Switzerland | |
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 | Unemployment rate (%, average) | United States | |
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 | Unemployment rate (%, average) | Eurozone | |
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 | 1.125% |
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 | (4.00%) |
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 | (1.20%) |
UBS AG | Mild downside ECL scenario | cumulative 3-year | Real GDP growth (%) | 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 | Real GDP growth (%) | 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 | Real GDP growth (%) | 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 | 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 | 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 | 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 | Unemployment rate (%, average) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.20% |
UBS AG | Mild downside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | United States | |
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 | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 1.00% |
UBS AG | Mild downside ECL scenario | cumulative 3-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 | 2.625% |
UBS AG | Mild downside ECL scenario | cumulative 3-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 | 2.25% |
UBS AG | Mild downside ECL scenario | cumulative 3-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 | 2.625% |
UBS AG | Mild downside ECL scenario | cumulative 3-year | 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 | 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 | 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 | 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 | 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 | (11.90%) |
UBS AG | Mild downside ECL scenario | cumulative 3-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 | (6.80%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Real GDP growth (%) | 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 | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (6.40%) |
UBS AG | Severe downside ECL scenario | Within 1 year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (9.10%) |
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 | Consumer price inflation (% change) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.20%) |
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 | (1.30%) |
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 | 2.60% |
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 | 5.70% |
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 | 5.60% |
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 | (1.00%) |
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 | (0.30%) |
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 | (0.70%) |
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 | (53.00%) |
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 | (60.00%) |
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 | (13.30%) |
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 | (23.00%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Real GDP growth (%) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (6.20%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Real GDP growth (%) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (4.30%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Real GDP growth (%) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (10.80%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | Switzerland | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.60%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Consumer price inflation (% change) | United States | |
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 | Consumer price inflation (% change) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (1.70%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | Switzerland | |
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 | Unemployment rate (%, average) | United States | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 5.60% |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Unemployment rate (%, average) | Eurozone | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | 7.90% |
UBS AG | Severe downside ECL scenario | cumulative 3-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 | (0.75%) |
UBS AG | Severe downside ECL scenario | cumulative 3-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 | cumulative 3-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 | (0.35%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Equity indices (% change) | S&P500 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (42.90%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Equity indices (% change) | EuroStoxx50 | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (52.90%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | Equity indices (% change) | SPI | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast | (46.80%) |
UBS AG | Severe downside ECL scenario | cumulative 3-year | 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 | 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 | (23.40%) |
UBS AG | Severe downside ECL scenario | cumulative 3-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 | (33.20%) |
Expected credit loss measure_10
Expected credit loss measurement - ECL for the period (Narrative) (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | $ 78 | $ 118 | $ 131 |
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 ECLs on an instrument for the remaining lifetime reduces (all other factors remaining the same); discount unwind within ECLs 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 ECLs” (and vice versa) following transfers between stages 1 and 2; movements from stages 1 and 2 to stage 3 (credit-impaired status) when default has become certain and probability of default (PD) increases to 100% (or vice versa); changes in credit risk and/or economic forecasting models or updates to model parameters; and foreign exchange translations for assets denominated in foreign currencies and other movements. | |||
Description Of Basis Of Inputs And Assumptions And Estimation Techniques Used To Measure 12-month And Lifetime Expected Credit Losses | The models applied to determine point in time probability of default (PD) and loss given default (LGD) rely on market and statistical data, which have been found to correlate well with historically observed defaults in sufficiently homogeneous segments. | |||
Description Of How Forward-looking Information Has Been Incorporated Into Determination Of Expected Credit Losses | 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 falling interest rates in a recession). Management will look for scenario narratives that reflect the key risk drivers of a credit portfolio. | |||
Personal & Corporate Banking | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | $ 21 | 56 | 20 |
Investment Bank | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | 30 | 38 | 92 |
Global Wealth Management | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | 20 | 15 | 8 |
Positions that are not credit impaired | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | (22) | |||
Credit-impaired positions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 100 | |||
Credit-impaired positions | Personal & Corporate Banking | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 44 | |||
Credit-impaired positions | Investment Bank | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 26 | |||
Credit-impaired positions | Global Wealth Management | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 23 | |||
UBS AG | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1],[2] | $ 78 | 117 | 131 |
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 ECLs on an instrument for the remaining lifetime reduces (all other factors remaining the same); discount unwind within ECLs 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 ECLs” (and vice versa) following transfers between stages 1 and 2; movements from stages 1 and 2 to stage 3 (credit-impaired status) when default has become certain and probability of default (PD) increases to 100% (or vice versa); changes in credit risk and/or economic forecasting models or updates to model parameters; and foreign exchange translations for assets denominated in foreign currencies and other movements. | |||
Description Of Basis Of Inputs And Assumptions And Estimation Techniques Used To Measure 12-month And Lifetime Expected Credit Losses | The models applied to determine point in time probability of default (PD) and loss given default (LGD) rely on market and statistical data, which have been found to correlate well with historically observed defaults in sufficiently homogeneous segments. | |||
Description Of How Forward-looking Information Has Been Incorporated Into Determination Of Expected Credit Losses | 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 falling interest rates in a recession). Management will look for scenario narratives that reflect the key risk drivers of a credit portfolio. | |||
UBS AG | Personal & Corporate Banking | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | $ 21 | 56 | 20 |
UBS AG | Investment Bank | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | 30 | 38 | 92 |
UBS AG | Global Wealth Management | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | [1] | 20 | $ 15 | $ 8 |
UBS AG | Positions that are not credit impaired | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | (22) | |||
UBS AG | Credit-impaired positions | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 100 | |||
UBS AG | Credit-impaired positions | Personal & Corporate Banking | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 44 | |||
UBS AG | Credit-impaired positions | Investment Bank | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | 26 | |||
UBS AG | Credit-impaired positions | Global Wealth Management | ||||
Disclosure Of Provision Matrix [Line Items] | ||||
Credit loss expense / (recovery) | $ 23 | |||
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[2] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. |
Expected credit loss measure_11
Expected credit loss measurement - ECL for the period (Narrative) (Detail 2) | Dec. 31, 2018 | Dec. 31, 2019 | 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 | 10.00% | 7.50% | 10.00% |
Baseline ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 45.00% | 42.50% | 45.00% |
Mild downside ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 35.00% | 35.00% | 35.00% |
Severe downside ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 10.00% | 15.00% | 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 | 10.00% | 7.50% | 10.00% |
UBS AG | Baseline ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 45.00% | 42.50% | 45.00% |
UBS AG | Mild downside ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 35.00% | 35.00% | 35.00% |
UBS AG | Severe downside ECL scenario | |||
Disclosure Of Provision Matrix [Line Items] | |||
Assigned weights | 10.00% | 15.00% | 10.00% |
Expected credit loss measure_12
Expected credit loss measurement - Development of allowance for credit losses (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | 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 | 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] | (78) | (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] | (53) | (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 | (1) | (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) | (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 | (6) | 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 | (16) | (10) | ||
Book quality movements | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Development of ECL allowances and provisions | (52) | (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] | (125) | (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 | (5) | (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 | 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 | (45) | (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 | (64) | 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 | (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 | 22 | (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 | 1 | 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 | (24) | (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 | 35 | (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] | 26 | (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 | 105 | 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] | 130 | 200 | |
Reclassifications | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Development of ECL allowances and provisions | [8] | 0 | 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) | 8 | |
Other | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Development of ECL allowances and provisions | (19) | (6) | ||
Twelve-month expected credit losses | 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 | 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] | (96) | (97) | |
Twelve-month expected credit losses | 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] | (4) | (30) | |
Twelve-month expected credit losses | 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] | (66) | (44) | |
Twelve-month expected credit losses | 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) | (6) | ||
Twelve-month expected credit losses | 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) | (8) | ||
Twelve-month expected credit losses | 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 | (14) | (6) | ||
Twelve-month expected credit losses | 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) | (14) | ||
Twelve-month expected credit losses | 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 | 141 | 112 | ||
Twelve-month expected credit losses | 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] | 110 | 95 | |
Twelve-month expected credit losses | 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 | 70 | 54 | ||
Twelve-month expected credit losses | 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 | 21 | 24 | ||
Twelve-month expected credit losses | 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 | 1 | 0 | ||
Twelve-month expected credit losses | 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 | 6 | 7 | ||
Twelve-month expected credit losses | 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] | 31 | 17 | |
Twelve-month expected credit losses | 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 | 2 | ||
Twelve-month expected credit losses | 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 | 0 | 4 | ||
Twelve-month expected credit losses | 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 | (10) | (2) | ||
Twelve-month expected credit losses | 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 | 9 | ||
Twelve-month expected credit losses | 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] | 17 | (2) | |
Twelve-month expected credit losses | 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) | 10 | ||
Twelve-month expected credit losses | 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 | 1 | |
Twelve-month expected credit losses | 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] | 0 | 7 | |
Twelve-month expected credit losses | 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] | (1) | 0 | |
Twelve-month expected credit losses | 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 | 0 | 2 | ||
Lifetime expected credit losses | 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 | 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] | 103 | 95 | |
Lifetime expected credit losses | 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] | 25 | 11 | |
Lifetime expected credit losses | 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] | 10 | 15 | |
Lifetime expected credit losses | 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 | 3 | 4 | ||
Lifetime expected credit losses | 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 | 2 | 5 | ||
Lifetime expected credit losses | 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 | 8 | 1 | ||
Lifetime expected credit losses | 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 | (2) | 4 | ||
Lifetime expected credit losses | 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 | (97) | (87) | ||
Lifetime expected credit losses | 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] | (138) | (103) | |
Lifetime expected credit losses | 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 | (74) | (63) | ||
Lifetime expected credit losses | 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 | (16) | (19) | ||
Lifetime expected credit losses | 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 | (11) | (3) | ||
Lifetime expected credit losses | 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 | (17) | (7) | ||
Lifetime expected credit losses | 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] | 41 | 16 | |
Lifetime expected credit losses | 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 | 30 | (3) | ||
Lifetime expected credit losses | 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 | 0 | 12 | ||
Lifetime expected credit losses | 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 | 0 | (6) | ||
Lifetime expected credit losses | 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 | 10 | 6 | ||
Lifetime expected credit losses | 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] | 9 | (11) | |
Lifetime expected credit losses | 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 | (2) | 1 | ||
Lifetime expected credit losses | 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 | 0 | |
Lifetime expected credit losses | 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] | 0 | 3 | |
Lifetime expected credit losses | 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] | (2) | 0 | |
Lifetime expected credit losses | 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 | 0 | (1) | ||
Lifetime expected credit losses | Credit-impaired positions | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Balance | (661) | (783) | ||
Lifetime expected credit losses | 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] | (8) | 2 | |
Lifetime expected credit losses | 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] | (100) | (86) | |
Lifetime expected credit losses | 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] | 3 | 19 | |
Lifetime expected credit losses | 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 | 0 | ||
Lifetime expected credit losses | 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 | 0 | ||
Lifetime expected credit losses | 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 | 0 | 8 | ||
Lifetime expected credit losses | 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 | 0 | ||
Lifetime expected credit losses | 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 | (96) | (114) | ||
Lifetime expected credit losses | 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] | (97) | (7) | |
Lifetime expected credit losses | 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) | (1) | ||
Lifetime expected credit losses | 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 | 0 | ||
Lifetime expected credit losses | 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 | (35) | 1 | ||
Lifetime expected credit losses | 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 | (53) | 0 | ||
Lifetime expected credit losses | 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] | 1 | (106) | |
Lifetime expected credit losses | 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 | (9) | (7) | ||
Lifetime expected credit losses | 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 | 1 | (8) | ||
Lifetime expected credit losses | 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 | (14) | (48) | ||
Lifetime expected credit losses | 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 | 17 | (70) | ||
Lifetime expected credit losses | 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 | 0 | |
Lifetime expected credit losses | 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 | 108 | 216 | ||
Lifetime expected credit losses | 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] | 130 | 199 | |
Lifetime expected credit losses | 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] | 0 | 15 | |
Lifetime expected credit losses | 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] | (4) | 8 | |
Lifetime expected credit losses | Credit-impaired positions | Other | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Development of ECL allowances and provisions | (18) | (6) | ||
Allowance for expected credit loss | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Financial assets | (1,029) | (1,054) | ||
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Financial assets | (181) | (176) | ||
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Financial assets | (160) | (183) | ||
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Financial assets | (688) | (695) | ||
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 | 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] | (78) | (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] | (53) | (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 | (1) | (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) | (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 | (6) | 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 | (16) | (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 | (52) | (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] | (125) | (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 | (5) | (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 | 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 | (45) | (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 | (64) | 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 | (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 | 22 | (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 | 1 | 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 | (24) | (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 | 35 | (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] | 26 | (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 | 105 | 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] | 130 | 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] | 0 | 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) | 8 | |
UBS AG | Other | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Development of ECL allowances and provisions | (19) | (6) | ||
UBS AG | Twelve-month expected credit losses | 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 | 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] | (96) | (97) | |
UBS AG | Twelve-month expected credit losses | 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] | (4) | (30) | |
UBS AG | Twelve-month expected credit losses | 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] | (66) | (44) | |
UBS AG | Twelve-month expected credit losses | 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) | (6) | ||
UBS AG | Twelve-month expected credit losses | 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) | (8) | ||
UBS AG | Twelve-month expected credit losses | 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 | (14) | (6) | ||
UBS AG | Twelve-month expected credit losses | 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) | (14) | ||
UBS AG | Twelve-month expected credit losses | 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 | 141 | 112 | ||
UBS AG | Twelve-month expected credit losses | 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] | 110 | 95 | |
UBS AG | Twelve-month expected credit losses | 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 | 70 | 54 | ||
UBS AG | Twelve-month expected credit losses | 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 | 21 | 24 | ||
UBS AG | Twelve-month expected credit losses | 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 | 1 | 0 | ||
UBS AG | Twelve-month expected credit losses | 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 | 6 | 7 | ||
UBS AG | Twelve-month expected credit losses | 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] | 31 | 17 | |
UBS AG | Twelve-month expected credit losses | 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 | 2 | ||
UBS AG | Twelve-month expected credit losses | 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 | 0 | 4 | ||
UBS AG | Twelve-month expected credit losses | 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 | (10) | (2) | ||
UBS AG | Twelve-month expected credit losses | 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 | 9 | ||
UBS AG | Twelve-month expected credit losses | 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] | 17 | (2) | |
UBS AG | Twelve-month expected credit losses | 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) | 10 | ||
UBS AG | Twelve-month expected credit losses | 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 | 1 | |
UBS AG | Twelve-month expected credit losses | 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] | 0 | 7 | |
UBS AG | Twelve-month expected credit losses | 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] | (1) | 0 | |
UBS AG | Twelve-month expected credit losses | 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 | 0 | 2 | ||
UBS AG | Lifetime expected credit losses | 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 | 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] | 103 | 95 | |
UBS AG | Lifetime expected credit losses | 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] | 25 | 11 | |
UBS AG | Lifetime expected credit losses | 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] | 10 | 15 | |
UBS AG | Lifetime expected credit losses | 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 | 3 | 4 | ||
UBS AG | Lifetime expected credit losses | 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 | 2 | 5 | ||
UBS AG | Lifetime expected credit losses | 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 | 8 | 1 | ||
UBS AG | Lifetime expected credit losses | 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 | (2) | 4 | ||
UBS AG | Lifetime expected credit losses | 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 | (97) | (87) | ||
UBS AG | Lifetime expected credit losses | 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] | (138) | (103) | |
UBS AG | Lifetime expected credit losses | 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 | (74) | (63) | ||
UBS AG | Lifetime expected credit losses | 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 | (16) | (19) | ||
UBS AG | Lifetime expected credit losses | 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 | (11) | (3) | ||
UBS AG | Lifetime expected credit losses | 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 | (17) | (7) | ||
UBS AG | Lifetime expected credit losses | 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] | 41 | 16 | |
UBS AG | Lifetime expected credit losses | 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 | 30 | (3) | ||
UBS AG | Lifetime expected credit losses | 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 | 0 | 12 | ||
UBS AG | Lifetime expected credit losses | 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 | 0 | (6) | ||
UBS AG | Lifetime expected credit losses | 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 | 10 | 6 | ||
UBS AG | Lifetime expected credit losses | 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] | 9 | (11) | |
UBS AG | Lifetime expected credit losses | 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 | (2) | 1 | ||
UBS AG | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Lifetime expected credit losses | 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] | 0 | 3 | |
UBS AG | Lifetime expected credit losses | 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] | (2) | 0 | |
UBS AG | Lifetime expected credit losses | 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 | 0 | (1) | ||
UBS AG | Lifetime expected credit losses | 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 | 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] | (8) | 2 | |
UBS AG | Lifetime expected credit losses | 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] | (100) | (86) | |
UBS AG | Lifetime expected credit losses | 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] | 3 | 19 | |
UBS AG | Lifetime expected credit losses | 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 | 0 | ||
UBS AG | Lifetime expected credit losses | 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 | 0 | ||
UBS AG | Lifetime expected credit losses | 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 | 0 | 8 | ||
UBS AG | Lifetime expected credit losses | 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 | 0 | ||
UBS AG | Lifetime expected credit losses | 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 | (96) | (114) | ||
UBS AG | Lifetime expected credit losses | 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] | (97) | (7) | |
UBS AG | Lifetime expected credit losses | 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) | (1) | ||
UBS AG | Lifetime expected credit losses | 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 | 0 | ||
UBS AG | Lifetime expected credit losses | 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 | (35) | 1 | ||
UBS AG | Lifetime expected credit losses | 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 | (53) | 0 | ||
UBS AG | Lifetime expected credit losses | 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] | 1 | (106) | |
UBS AG | Lifetime expected credit losses | 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 | (9) | (7) | ||
UBS AG | Lifetime expected credit losses | 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 | 1 | (8) | ||
UBS AG | Lifetime expected credit losses | 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 | (14) | (48) | ||
UBS AG | Lifetime expected credit losses | 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 | 17 | (70) | ||
UBS AG | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Lifetime expected credit losses | 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 | 108 | 216 | ||
UBS AG | Lifetime expected credit losses | 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] | 130 | 199 | |
UBS AG | Lifetime expected credit losses | 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] | 0 | 15 | |
UBS AG | Lifetime expected credit losses | 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] | (4) | 8 | |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Other | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Development of ECL allowances and provisions | (18) | (6) | ||
UBS AG | Allowance for expected credit loss | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Financial assets | (1,029) | (1,054) | ||
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Financial assets | (181) | (176) | ||
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Financial assets | (160) | (183) | ||
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | ||||
Reconciliation Of Changes In Allowance Account For Credit Losses Of Financial Assets [Line Items] | ||||
Financial assets | $ (688) | $ (695) | ||
[1] | Represents ECL allowances and provisions prior to ECL remeasurement due to stage transfer | |||
[2] | Includes ECL movements due to stage transfers, ECL movements from new and derecognized transactions, book quality changes and model and methodology changes. | |||
[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. Refer to Note 23b for more information. | |||
[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 measure_13
Expected credit loss measurement - Maximum exposure to credit risk (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Total maximum exposure to credit risk reflected on the balance sheet | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | $ 583,200 | $ 593,800 | |
Collateral | |||
Cash collateral received | 18,600 | 17,200 | |
Collateralized by securities | 179,400 | 197,400 | |
Secured by real estate | 174,700 | 167,200 | |
Other collateral | [1] | 24,300 | 19,900 |
Credit enhancements | |||
Netting | 14,400 | 14,500 | |
Credit derivative contracts | 0 | 0 | |
Guarantees | 1,100 | 1,200 | |
Exposure to credit risk after collateral and credit enhancements | 170,700 | 176,500 | |
Total financial assets measured at amortized cost | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 576,800 | 587,100 | |
Collateral | |||
Cash collateral received | 18,600 | 17,200 | |
Collateralized by securities | 179,400 | 197,400 | |
Secured by real estate | 174,700 | 167,200 | |
Other collateral | [1] | 24,300 | 19,900 |
Credit enhancements | |||
Netting | 14,400 | 14,500 | |
Credit derivative contracts | 0 | 0 | |
Guarantees | 1,100 | 1,200 | |
Exposure to credit risk after collateral and credit enhancements | 164,400 | 169,800 | |
Cash and balances at central banks | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 107,100 | 108,400 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 107,100 | 108,400 | |
Loans and advances to banks | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [2] | 12,400 | 16,900 |
Collateral | |||
Collateralized by securities | [2] | 0 | 100 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [2] | 12,400 | 16,800 |
Receivables from securities financing transactions | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 84,200 | 95,300 | |
Collateral | |||
Collateralized by securities | 77,600 | 92,500 | |
Other collateral | [1] | 5,800 | 2,500 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 800 | 300 | |
Cash collateral receivables on derivative instruments | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [3],[4] | 23,300 | 23,600 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [3],[4] | 8,900 | 9,100 |
Loans and advances to customers | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [5] | 326,800 | 320,400 |
Collateral | |||
Cash collateral received | [5] | 18,400 | 17,000 |
Collateralized by securities | [5] | 101,400 | 104,400 |
Secured by real estate | [5] | 174,700 | 167,100 |
Other collateral | [1],[5] | 17,100 | 16,200 |
Credit enhancements | |||
Credit derivative contracts | [5] | 0 | |
Guarantees | [5] | 1,100 | 1,200 |
Exposure to credit risk after collateral and credit enhancements | [5] | 14,000 | 14,300 |
Other financial assets measured at amortized cost | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 23,000 | 22,600 | |
Collateral | |||
Cash collateral received | 100 | 100 | |
Collateralized by securities | 400 | 400 | |
Secured by real estate | 0 | ||
Other collateral | [1] | 1,300 | 1,100 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 21,100 | 20,900 | |
Financial assets measured at fair value through other comprehensive income - debt | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 6,300 | 6,700 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 6,300 | 6,700 | |
Total maximum exposure to credit risk not reflected on the balance sheet | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 82,300 | 86,800 | |
Collateral | |||
Cash collateral received | 1,500 | 2,800 | |
Collateralized by securities | 14,900 | 12,700 | |
Secured by real estate | 6,300 | 5,800 | |
Other collateral | [1] | 11,000 | 10,800 |
Credit enhancements | |||
Netting | 0 | 0 | |
Credit derivative contracts | 200 | 200 | |
Guarantees | 2,800 | 3,400 | |
Exposure to credit risk after collateral and credit enhancements | 45,700 | 51,000 | |
Guarantees | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [6] | 18,100 | 18,100 |
Collateral | |||
Cash collateral received | [6] | 1,000 | 1,300 |
Collateralized by securities | [6] | 3,000 | 2,500 |
Secured by real estate | [6] | 100 | 100 |
Other collateral | [1],[6] | 1,700 | 1,200 |
Credit enhancements | |||
Guarantees | [6] | 2,500 | 2,700 |
Exposure to credit risk after collateral and credit enhancements | [6] | 9,800 | 10,200 |
Loan commitments | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 33,856 | 34,747 | |
Loan commitments | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [6] | 27,500 | 31,200 |
Collateral | |||
Cash collateral received | [6] | 200 | 400 |
Collateralized by securities | [6] | 1,900 | 2,800 |
Secured by real estate | [6] | 1,300 | 1,500 |
Other collateral | [1],[6] | 5,800 | 5,700 |
Credit enhancements | |||
Credit derivative contracts | [6] | 200 | 200 |
Guarantees | [6] | 200 | 700 |
Exposure to credit risk after collateral and credit enhancements | [6] | 18,000 | 19,800 |
Forward starting reverse repurchase and securities borrowing agreements | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 1,700 | 900 | |
Collateral | |||
Collateralized by securities | 1,700 | 900 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0 | 0 | |
Committed unconditionally revocable credit lines | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 35,100 | ||
Collateral | |||
Cash collateral received | 300 | ||
Collateralized by securities | 8,300 | ||
Secured by real estate | 4,900 | ||
Other collateral | [1] | 3,600 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 17,900 | ||
UBS AG | Total maximum exposure to credit risk reflected on the balance sheet | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 584,300 | 594,800 | |
Collateral | |||
Cash collateral received | 19,500 | 17,800 | |
Collateralized by securities | 179,400 | 197,400 | |
Secured by real estate | 174,700 | 167,200 | |
Other collateral | [1] | 24,300 | 19,900 |
Credit enhancements | |||
Netting | 14,400 | 14,500 | |
Credit derivative contracts | 0 | 0 | |
Guarantees | 1,100 | 1,200 | |
Exposure to credit risk after collateral and credit enhancements | 171,000 | 176,900 | |
UBS AG | Total financial assets measured at amortized cost | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 578,000 | 588,100 | |
Collateral | |||
Cash collateral received | 19,500 | 17,800 | |
Collateralized by securities | 179,400 | 197,400 | |
Secured by real estate | 174,700 | 167,200 | |
Other collateral | [1] | 24,300 | 19,900 |
Credit enhancements | |||
Netting | 14,400 | 14,500 | |
Credit derivative contracts | 0 | 0 | |
Guarantees | 1,100 | 1,200 | |
Exposure to credit risk after collateral and credit enhancements | 164,600 | 170,200 | |
UBS AG | Cash and balances at central banks | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 107,100 | 108,400 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 107,100 | 108,400 | |
UBS AG | Loans and advances to banks | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [2] | 12,400 | 16,600 |
Collateral | |||
Collateralized by securities | [2] | 0 | 100 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | [2] | 12,300 | 16,600 |
UBS AG | Receivables from securities financing transactions | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 84,200 | 95,300 | |
Collateral | |||
Collateralized by securities | 77,600 | 92,500 | |
Other collateral | [1] | 5,800 | 2,500 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 800 | 300 | |
UBS AG | Cash collateral receivables on derivative instruments | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [3],[4] | 23,300 | 23,600 |
Credit enhancements | |||
Netting | [3],[4] | 14,400 | 14,500 |
Exposure to credit risk after collateral and credit enhancements | [3],[4] | 8,900 | 9,100 |
UBS AG | Loans and advances to customers | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [5] | 328,000 | 321,500 |
Collateral | |||
Cash collateral received | [5] | 19,400 | 17,700 |
Collateralized by securities | [5] | 101,400 | 104,400 |
Secured by real estate | [5] | 174,700 | 167,100 |
Other collateral | [1],[5] | 17,100 | 16,200 |
Credit enhancements | |||
Credit derivative contracts | [5] | 0 | |
Guarantees | [5] | 1,100 | 1,200 |
Exposure to credit risk after collateral and credit enhancements | [5] | 14,300 | 14,800 |
UBS AG | Other financial assets measured at amortized cost | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 23,000 | 22,600 | |
Collateral | |||
Cash collateral received | 100 | 100 | |
Collateralized by securities | 400 | 400 | |
Secured by real estate | 0 | 0 | |
Other collateral | [1] | 1,300 | 1,100 |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 21,200 | 21,000 | |
UBS AG | Financial assets measured at fair value through other comprehensive income - debt | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 6,300 | 6,700 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 6,300 | 6,700 | |
UBS AG | Total maximum exposure to credit risk not reflected on the balance sheet | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 84,200 | 89,000 | |
Collateral | |||
Cash collateral received | 1,500 | 2,800 | |
Collateralized by securities | 14,900 | 12,700 | |
Secured by real estate | 6,300 | 5,800 | |
Other collateral | [1] | 11,000 | 10,800 |
Credit enhancements | |||
Netting | 0 | 0 | |
Credit derivative contracts | 200 | 200 | |
Guarantees | 2,800 | 3,400 | |
Exposure to credit risk after collateral and credit enhancements | 47,600 | 53,200 | |
UBS AG | Guarantees | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [6] | 18,100 | 18,100 |
Collateral | |||
Cash collateral received | [6] | 1,000 | 1,300 |
Collateralized by securities | [6] | 3,000 | 2,500 |
Secured by real estate | [6] | 100 | 100 |
Other collateral | [1],[6] | 1,700 | 1,200 |
Credit enhancements | |||
Guarantees | [6] | 2,500 | 2,700 |
Exposure to credit risk after collateral and credit enhancements | [6] | 9,800 | 10,200 |
UBS AG | Loan commitments | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 33,856 | 34,747 | |
UBS AG | Loan commitments | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | [6] | 27,500 | 31,200 |
Collateral | |||
Cash collateral received | [6] | 200 | 400 |
Collateralized by securities | [6] | 1,900 | 2,800 |
Secured by real estate | [6] | 1,300 | 1,500 |
Other collateral | [1],[6] | 5,800 | 5,700 |
Credit enhancements | |||
Credit derivative contracts | [6] | 200 | 200 |
Guarantees | [6] | 200 | 700 |
Exposure to credit risk after collateral and credit enhancements | [6] | 18,000 | 19,800 |
UBS AG | Forward starting reverse repurchase and securities borrowing agreements | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 1,700 | 900 | |
Collateral | |||
Collateralized by securities | 1,700 | 900 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | 0 | $ 0 | |
UBS AG | Committed unconditionally revocable credit lines | Financial Assets At Amortised Cost [Member] | |||
Maximum Exposure To Credit Risk Expected Credit Loss [Line Items] | |||
Maximum exposure to credit risk | 36,900 | ||
Collateral | |||
Cash collateral received | 300 | ||
Collateralized by securities | 8,300 | ||
Secured by real estate | 4,900 | ||
Other collateral | [1] | 3,600 | |
Credit enhancements | |||
Exposure to credit risk after collateral and credit enhancements | $ 19,800 | ||
[1] | Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities | ||
[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_14
Expected credit loss measurement - Financial assets subject to credit risk by rating category (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | $ 583,159 | $ 593,770 |
Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 576,815 | 587,104 |
Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 107,068 | 108,370 |
Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 12,447 | 16,868 |
Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 84,245 | 95,349 |
Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 23,289 | 23,602 |
Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 326,786 | 320,352 |
Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 22,980 | 22,563 |
Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 6,345 | 6,667 | |
Twelve-month expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 564,765 | 570,763 |
Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 558,420 | 564,096 |
Twelve-month expected credit losses | Positions that are not credit impaired | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 107,068 | 108,370 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 12,367 | 16,666 |
Twelve-month expected credit losses | Positions that are not credit impaired | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 84,245 | 95,349 |
Twelve-month expected credit losses | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 23,289 | 23,602 |
Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 309,499 | 298,248 |
Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 21,953 | 21,862 |
Lifetime expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 16,069 | 20,782 |
Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 16,069 | 20,782 |
Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 80 | 202 |
Lifetime expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 15,538 | 20,357 |
Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 451 | 223 |
Lifetime expected credit losses | Credit-impaired positions | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
Lifetime expected credit losses | Credit-impaired positions | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 0 | 0 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 0 | 0 |
Lifetime expected credit losses | Credit-impaired positions | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 0 | 0 |
Lifetime expected credit losses | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 0 | 0 |
Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 1,749 | 1,748 |
Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 576 | 478 |
Gross carrying amount | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
Gross carrying amount | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 584,075 | 594,706 | |
Gross carrying amount | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 577,730 | 588,039 | |
Gross carrying amount | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 107,068 | 108,370 | |
Gross carrying amount | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 12,454 | 16,875 | |
Gross carrying amount | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 84,246 | 95,350 | |
Gross carrying amount | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 23,289 | 23,601 | |
Gross carrying amount | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 327,550 | 321,124 | |
Gross carrying amount | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 23,123 | 22,718 | |
Gross carrying amount | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 6,345 | 6,667 | |
Gross carrying amount | Rating category 0-1 | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 152,120 | 159,605 | |
Gross carrying amount | Rating category 0-1 | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 146,267 | 155,716 | |
Gross carrying amount | Rating category 0-1 | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 105,195 | 103,635 | |
Gross carrying amount | Rating category 0-1 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 309 | 829 | |
Gross carrying amount | Rating category 0-1 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 21,089 | 29,065 | |
Gross carrying amount | Rating category 0-1 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 4,899 | 5,136 | |
Gross carrying amount | Rating category 0-1 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,744 | 3,642 | |
Gross carrying amount | Rating category 0-1 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 13,031 | 13,409 | |
Gross carrying amount | Rating category 0-1 | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 5,854 | 3,889 | |
Gross carrying amount | Rating category 2-3 | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 216,139 | 229,012 | |
Gross carrying amount | Rating category 2-3 | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 215,690 | 226,310 | |
Gross carrying amount | Rating category 2-3 | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,873 | 4,735 | |
Gross carrying amount | Rating category 2-3 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 9,832 | 13,462 | |
Gross carrying amount | Rating category 2-3 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 16,889 | 24,653 | |
Gross carrying amount | Rating category 2-3 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 10,553 | 10,042 | |
Gross carrying amount | Rating category 2-3 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 174,982 | 172,742 | |
Gross carrying amount | Rating category 2-3 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,560 | 676 | |
Gross carrying amount | Rating category 2-3 | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 450 | 2,702 | |
Gross carrying amount | Rating category 4-5 | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 80,354 | 73,110 | |
Gross carrying amount | Rating category 4-5 | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 80,354 | 73,110 | |
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 | 1,326 | 1,347 | |
Gross carrying amount | Rating category 4-5 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 14,366 | 13,602 | |
Gross carrying amount | Rating category 4-5 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 5,033 | 5,282 | |
Gross carrying amount | Rating category 4-5 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 59,240 | 52,566 | |
Gross carrying amount | Rating category 4-5 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 390 | 313 | |
Gross carrying amount | Rating category 4-5 | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Rating category 6-8 | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 109,994 | 112,231 | |
Gross carrying amount | Rating category 6-8 | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 109,952 | 112,155 | |
Gross carrying amount | Rating category 6-8 | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Rating category 6-8 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 687 | 927 | |
Gross carrying amount | Rating category 6-8 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 28,815 | 26,865 | |
Gross carrying amount | Rating category 6-8 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,765 | 3,040 | |
Gross carrying amount | Rating category 6-8 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 70,528 | 73,863 | |
Gross carrying amount | Rating category 6-8 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 7,158 | 7,460 | |
Gross carrying amount | Rating category 6-8 | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 41 | 76 | |
Gross carrying amount | Rating category 9-13 | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 22,485 | 17,861 | |
Gross carrying amount | Rating category 9-13 | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 22,485 | 17,861 | |
Gross carrying amount | Rating category 9-13 | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Rating category 9-13 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 298 | 307 | |
Gross carrying amount | Rating category 9-13 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 3,088 | 1,165 | |
Gross carrying amount | Rating category 9-13 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 39 | 101 | |
Gross carrying amount | Rating category 9-13 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 18,748 | 16,014 | |
Gross carrying amount | Rating category 9-13 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 312 | 274 | |
Gross carrying amount | Rating category 9-13 | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Rating category Defaulted | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,981 | 2,886 | |
Gross carrying amount | Rating category Defaulted | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,981 | 2,886 | |
Gross carrying amount | Rating category Defaulted | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Rating category Defaulted | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1 | 3 | |
Gross carrying amount | Rating category Defaulted | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Rating category Defaulted | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Rating category Defaulted | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,308 | 2,297 | |
Gross carrying amount | Rating category Defaulted | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 672 | 586 | |
Gross carrying amount | Rating category Defaulted | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (181) | (176) | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 564,888 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 558,544 | ||
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 107,068 | 108,370 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 12,371 | 16,669 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 84,246 | 95,350 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 23,289 | 23,601 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 309,581 | 298,316 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 21,988 | 21,905 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 105,195 | 103,635 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 309 | 829 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 0-1 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 21,089 | 29,065 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 4,899 | 5,136 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,744 | 3,621 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 13,031 | 13,409 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 1,873 | 4,735 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 9,832 | 13,462 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 2-3 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 16,889 | 24,653 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 10,553 | 10,042 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 174,328 | 172,002 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 1,549 | 676 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,326 | 1,347 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 4-5 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 14,366 | 13,602 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 5,033 | 5,282 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 56,957 | 49,277 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 381 | 313 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 677 | 763 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 28,815 | 26,865 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 2,765 | 3,040 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 62,435 | 62,305 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 6,747 | 7,235 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 228 | 268 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 3,088 | 1,165 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 39 | 101 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 14,117 | 11,111 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 280 | 272 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (160) | (183) | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 16,206 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 16,206 | ||
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 81 | 203 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 15,661 | 20,510 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 463 | 227 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 20 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 655 | 740 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 11 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,283 | 3,289 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 9 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 10 | 164 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 8,093 | 11,558 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 412 | 225 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 71 | 39 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 4,631 | 4,903 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 32 | 2 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (688) | (695) | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,981 | ||
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [2] | 2,981 | 2,886 |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1 | 3 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,308 | 2,297 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 672 | 586 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 0-1 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 0-1 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 0-1 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 2-3 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 2-3 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 2-3 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 4-5 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 4-5 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 4-5 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 6-8 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 6-8 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 6-8 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 9-13 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 9-13 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 9-13 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category Defaulted | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1 | 3 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category Defaulted | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,308 | 2,297 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category Defaulted | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 672 | 586 | |
Allowance for expected credit loss | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
Allowance for expected credit loss | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (915) | (937) | |
Allowance for expected credit loss | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (915) | (937) | |
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 | (6) | (7) | |
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 | (764) | (772) | |
Allowance for expected credit loss | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (143) | (155) | |
Allowance for expected credit loss | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (181) | (176) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (124) | (117) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (124) | (117) | |
Allowance for expected credit loss | Twelve-month expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (4) | (4) | |
Allowance for expected credit loss | Twelve-month expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (82) | (69) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (35) | (43) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (160) | (183) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (137) | (159) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (137) | (159) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (1) | (1) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (123) | (155) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (13) | (4) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (688) | (695) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (655) | (660) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [2] | (655) | (660) |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (1) | (3) | |
Allowance for expected credit loss | Lifetime expected credit losses | 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 | 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 | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (559) | (549) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (95) | (109) | |
UBS AG | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 584,329 | 594,750 |
UBS AG | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 577,985 | 588,084 |
UBS AG | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 107,068 | 108,370 |
UBS AG | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 12,379 | 16,642 |
UBS AG | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 84,245 | 95,349 |
UBS AG | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 23,289 | 23,603 |
UBS AG | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 327,992 | 321,482 |
UBS AG | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 23,012 | 22,637 |
UBS AG | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 6,345 | 6,667 | |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 565,935 | 571,743 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 559,590 | 565,076 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 107,068 | 108,370 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 12,298 | 16,440 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 84,245 | 95,349 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 23,289 | 23,603 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 310,705 | 299,378 |
UBS AG | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 21,985 | 21,936 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 16,069 | 20,782 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 16,069 | 20,782 |
UBS AG | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 80 | 202 |
UBS AG | Lifetime expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 15,538 | 20,357 |
UBS AG | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 451 | 223 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 2,326 | 2,226 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 0 | 0 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 0 | 0 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 0 | 0 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 0 | 0 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 1,749 | 1,748 |
UBS AG | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [1] | 576 | 478 |
UBS AG | Gross carrying amount | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
UBS AG | Gross carrying amount | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 585,245 | 595,687 | |
UBS AG | Gross carrying amount | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 578,899 | 589,020 | |
UBS AG | Gross carrying amount | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 107,068 | 108,370 | |
UBS AG | Gross carrying amount | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 12,386 | 16,649 | |
UBS AG | Gross carrying amount | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 84,246 | 95,351 | |
UBS AG | Gross carrying amount | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 23,289 | 23,603 | |
UBS AG | Gross carrying amount | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 328,756 | 322,255 | |
UBS AG | Gross carrying amount | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 23,154 | 22,792 | |
UBS AG | Gross carrying amount | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 6,345 | 6,667 | |
UBS AG | Gross carrying amount | Rating category 0-1 | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 152,120 | 159,604 | |
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 | 146,267 | 155,715 | |
UBS AG | Gross carrying amount | Rating category 0-1 | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 105,195 | 103,635 | |
UBS AG | Gross carrying amount | Rating category 0-1 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 309 | 829 | |
UBS AG | Gross carrying amount | Rating category 0-1 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 21,089 | 29,065 | |
UBS AG | Gross carrying amount | Rating category 0-1 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 4,899 | 5,136 | |
UBS AG | Gross carrying amount | Rating category 0-1 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,744 | 3,641 | |
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 | 13,030 | 13,409 | |
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 | 5,854 | 3,889 | |
UBS AG | Gross carrying amount | Rating category 2-3 | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 217,309 | 229,556 | |
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 | 216,860 | 226,854 | |
UBS AG | Gross carrying amount | Rating category 2-3 | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,873 | 4,735 | |
UBS AG | Gross carrying amount | Rating category 2-3 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 9,764 | 13,286 | |
UBS AG | Gross carrying amount | Rating category 2-3 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 16,889 | 24,653 | |
UBS AG | Gross carrying amount | Rating category 2-3 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 10,553 | 10,044 | |
UBS AG | Gross carrying amount | Rating category 2-3 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 176,189 | 173,454 | |
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 | 1,592 | 682 | |
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 | 450 | 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 | 80,354 | 73,308 | |
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 | 80,354 | 73,308 | |
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 | 1,326 | 1,302 | |
UBS AG | Gross carrying amount | Rating category 4-5 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 14,366 | 13,602 | |
UBS AG | Gross carrying amount | Rating category 4-5 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 5,033 | 5,282 | |
UBS AG | Gross carrying amount | Rating category 4-5 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 59,240 | 52,806 | |
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 | 390 | 316 | |
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 | 0 | |
UBS AG | Gross carrying amount | Rating category 6-8 | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 109,994 | 112,471 | |
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 | 109,952 | 112,395 | |
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 | 0 | |
UBS AG | Gross carrying amount | Rating category 6-8 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 687 | 922 | |
UBS AG | Gross carrying amount | Rating category 6-8 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 28,815 | 26,866 | |
UBS AG | Gross carrying amount | Rating category 6-8 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,765 | 3,040 | |
UBS AG | Gross carrying amount | Rating category 6-8 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 70,528 | 74,042 | |
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 | 7,158 | 7,525 | |
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 | 41 | 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 | 22,485 | 17,861 | |
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 | 22,485 | 17,861 | |
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 | 0 | |
UBS AG | Gross carrying amount | Rating category 9-13 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 298 | 307 | |
UBS AG | Gross carrying amount | Rating category 9-13 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 3,088 | 1,165 | |
UBS AG | Gross carrying amount | Rating category 9-13 | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 39 | 101 | |
UBS AG | Gross carrying amount | Rating category 9-13 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 18,748 | 16,014 | |
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 | 312 | 274 | |
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 | 0 | |
UBS AG | Gross carrying amount | Rating category Defaulted | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,981 | 2,886 | |
UBS AG | Gross carrying amount | Rating category Defaulted | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,981 | 2,886 | |
UBS AG | Gross carrying amount | Rating category Defaulted | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Rating category Defaulted | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1 | 3 | |
UBS AG | Gross carrying amount | Rating category Defaulted | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 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 | 0 | |
UBS AG | Gross carrying amount | Rating category Defaulted | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,308 | 2,297 | |
UBS AG | Gross carrying amount | Rating category Defaulted | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 672 | 586 | |
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 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (181) | (176) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 566,059 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 559,714 | ||
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Cash and balances at central banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 107,068 | 108,370 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 12,303 | 16,443 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 84,246 | 95,351 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Cash collateral receivables on derivative instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 23,289 | 23,603 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 310,787 | 299,448 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 22,019 | 21,979 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 105,195 | 103,635 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 309 | 829 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 0-1 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 21,089 | 29,065 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 4,899 | 5,136 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,744 | 3,621 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 13,030 | 13,409 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 1,873 | 4,735 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 9,764 | 13,286 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 2-3 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 16,889 | 24,653 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 10,553 | 10,044 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 175,534 | 172,714 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 1,581 | 682 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1,326 | 1,302 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 4-5 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 14,366 | 13,602 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 5,033 | 5,282 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 56,957 | 49,517 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 381 | 316 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 677 | 758 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 28,815 | 26,866 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 2,765 | 3,040 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 62,435 | 62,484 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 6,747 | 7,300 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 228 | 268 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 3,088 | 1,165 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 39 | 101 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 14,117 | 11,111 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 280 | 272 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Receivables from securities financing transactions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (160) | (183) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 16,206 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 16,206 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 81 | 203 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 15,661 | 20,510 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 463 | 227 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 0-1 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 20 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 2-3 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 655 | 740 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 11 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 4-5 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,283 | 3,289 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 9 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 10 | 164 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 6-8 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 8,093 | 11,558 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 412 | 225 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 71 | 39 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category 9-13 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 4,631 | 4,903 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 32 | 2 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Rating category Defaulted | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (688) | (695) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,981 | ||
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [2] | 2,981 | 2,886 |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1 | 3 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,308 | 2,297 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 672 | 586 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 0-1 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 0-1 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 0-1 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 2-3 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 2-3 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 2-3 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 4-5 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 4-5 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 4-5 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 6-8 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 6-8 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 6-8 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 9-13 | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 9-13 | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category 9-13 | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category Defaulted | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 1 | 3 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category Defaulted | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 2,308 | 2,297 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Rating category Defaulted | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 672 | 586 | |
UBS AG | Allowance for expected credit loss | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
UBS AG | Allowance for expected credit loss | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (915) | (937) | |
UBS AG | Allowance for expected credit loss | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (915) | (937) | |
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 | (6) | (7) | |
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 | (764) | (772) | |
UBS AG | Allowance for expected credit loss | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (143) | (155) | |
UBS AG | Allowance for expected credit loss | Financial assets measured at FVOCI - debt instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | 0 | 0 | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (181) | (176) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (124) | (117) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (124) | (117) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (4) | (4) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (82) | (69) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (35) | (43) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (160) | (183) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (137) | (159) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (137) | (159) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | Positions that are not credit impaired | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (1) | (1) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | 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 | Positions that are not credit impaired | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (123) | (155) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (13) | (4) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (688) | (695) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total on balance sheet financial instruments | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (655) | (660) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Total financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | [2] | (655) | (660) |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | Credit-impaired positions | Loans and advances to banks | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (1) | (3) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | 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 | 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 | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | (559) | (549) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | Other financial assets measured at amortized cost | |||
Disclosure Of Internal Credit Exposures [Line Items] | |||
Financial assets | $ (95) | $ (109) | |
[1] | The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. | ||
[2] | Under IFRS 9, adopted on 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). |
Expected credit loss measure_15
Expected credit loss measurement - Off balance sheet positions subject to expected credit loss by rating category (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Gross carrying amount | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | $ (1,029) | $ (1,054) | |
Gross carrying amount | 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 | (114) | (116) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 85,728 | 90,268 | |
Gross carrying amount | 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] | |||
Financial Assets | (77) | (80) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 47,347 | 50,295 | |
Gross carrying amount | Guarantees | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (42) | (43) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 18,142 | 18,146 | |
Gross carrying amount | Loan commitments | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (35) | (37) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 27,547 | 31,212 | |
Gross carrying amount | Forward starting 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,657 | 937 | |
Gross carrying amount | Total other credit lines | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (37) | (36) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 38,381 | 39,972 | |
Gross carrying amount | Committed unconditionally revocable credit lines | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (34) | (36) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 35,092 | 36,634 | |
Gross carrying amount | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (3) | (1) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,289 | 3,339 | |
Gross carrying amount | 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 | 3,405 | 3,092 | |
Gross carrying amount | 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 | 857 | 979 | |
Gross carrying amount | 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 | 2,548 | 2,088 | |
Gross carrying amount | Rating category 0-1 | Forward starting 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 | 25 | |
Gross carrying amount | 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 | 657 | 803 | |
Gross carrying amount | 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 | 632 | 776 | |
Gross carrying amount | 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 | 25 | 27 | |
Gross carrying amount | 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 | 15,672 | 18,850 | |
Gross carrying amount | 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 | 4,932 | 6,673 | |
Gross carrying amount | 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 | 10,068 | 11,667 | |
Gross carrying amount | Rating category 2-3 | Forward starting 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 | 672 | 510 | |
Gross carrying amount | 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 | 13,858 | 12,245 | |
Gross carrying amount | 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 | 12,459 | 10,899 | |
Gross carrying amount | 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 | 1,399 | 1,346 | |
Gross carrying amount | 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 | 10,972 | 10,528 | |
Gross carrying amount | 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 | 6,060 | 3,859 | |
Gross carrying amount | 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 | 4,862 | 6,519 | |
Gross carrying amount | Rating category 4-5 | Forward starting 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 | 50 | 150 | |
Gross carrying amount | 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 | 7,101 | 6,171 | |
Gross carrying amount | 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 | 6,231 | 5,282 | |
Gross carrying amount | 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 | 870 | 889 | |
Gross carrying amount | 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 | 12,245 | 12,145 | |
Gross carrying amount | 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 | 5,450 | 5,415 | |
Gross carrying amount | 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 | 5,859 | 6,479 | |
Gross carrying amount | Rating category 6-8 | Forward starting 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 | 936 | 251 | |
Gross carrying amount | 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 | 7,801 | 12,401 | |
Gross carrying amount | 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 | 7,169 | 11,499 | |
Gross carrying amount | 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 | 633 | 902 | |
Gross carrying amount | 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 | 4,922 | 5,410 | |
Gross carrying amount | 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 | 761 | 1,006 | |
Gross carrying amount | 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 | 4,160 | 4,404 | |
Gross carrying amount | Rating category 9-13 | Forward starting 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 | |
Gross carrying amount | 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 | 8,913 | 8,238 | |
Gross carrying amount | 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 | 8,554 | 8,084 | |
Gross carrying amount | 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 | 359 | 154 | |
Gross carrying amount | 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 | 132 | 270 | |
Gross carrying amount | 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 | 82 | 215 | |
Gross carrying amount | 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 | 50 | 55 | |
Gross carrying amount | Rating category Defaulted | Forward starting 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 | |
Gross carrying amount | 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 | 50 | 114 | |
Gross carrying amount | 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 | 46 | 93 | |
Gross carrying amount | 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 | 4 | 21 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (181) | (176) | |
Gross carrying amount | Twelve-month expected credit losses | 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 | (58) | (59) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 83,626 | 86,830 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | (8) | (7) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 17,757 | 17,321 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | (30) | (32) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 27,078 | 30,590 | |
Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Forward starting 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,657 | 937 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | (17) | (19) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 33,848 | 35,121 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | (3) | (1) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,285 | 2,861 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 857 | 978 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 2,548 | 2,088 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 628 | 768 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 25 | 27 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 4,931 | 6,670 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 10,068 | 11,667 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 12,422 | 10,871 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 1,399 | 1,315 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 6,048 | 3,849 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 4,862 | 6,519 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 6,120 | 5,152 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 870 | 680 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 5,218 | 5,012 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 5,722 | 6,296 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 6,789 | 10,727 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 633 | 701 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 704 | 811 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 3,878 | 4,019 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 7,889 | 7,603 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 359 | 137 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 1 | |
Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (160) | (183) | |
Gross carrying amount | Lifetime expected credit losses | 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) | (23) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,920 | 3,055 | |
Gross carrying amount | Lifetime expected credit losses | 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 | (1) | (2) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 304 | 611 | |
Gross carrying amount | Lifetime expected credit losses | 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) | (5) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 419 | 568 | |
Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Forward starting 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | (17) | (16) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,197 | 1,420 | |
Gross carrying amount | Lifetime expected credit losses | 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 456 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 4 | 8 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 1 | 3 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 37 | 28 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 31 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 12 | 10 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 111 | 130 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 209 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 233 | 402 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 137 | 183 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 380 | 772 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 200 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 57 | 195 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 282 | 385 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 665 | 481 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 17 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (688) | (695) | |
Gross carrying amount | Lifetime expected credit losses | 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 | [1] | (33) | (34) |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | [1] | 182 | 383 |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (33) | (34) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 82 | 215 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loan commitments | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | 0 | 0 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 50 | 53 | |
Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Forward starting 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 46 | 93 | |
Gross carrying amount | Lifetime expected credit losses | 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4 | 22 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 82 | 215 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 50 | 53 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 46 | 93 | |
Gross carrying amount | Lifetime expected credit losses | 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 | 4 | 21 | |
Allowance for expected credit loss | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (1,029) | (1,054) | |
Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (181) | (176) | |
Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (160) | (183) | |
Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (688) | (695) | |
UBS AG | Gross carrying amount | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (1,029) | (1,054) | |
UBS AG | Gross carrying amount | 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 | (114) | (116) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 87,614 | 92,486 | |
UBS AG | Gross carrying amount | 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] | |||
Financial Assets | (77) | (80) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 47,347 | 50,296 | |
UBS AG | Gross carrying amount | Guarantees | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (42) | (43) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 18,142 | 18,146 | |
UBS AG | Gross carrying amount | Loan commitments | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (35) | (37) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 27,547 | 31,212 | |
UBS AG | Gross carrying amount | Forward starting 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,657 | 937 | |
UBS AG | Gross carrying amount | Total other credit lines | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (37) | (36) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 40,268 | 42,190 | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (34) | (36) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 36,979 | 38,851 | |
UBS AG | Gross carrying amount | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (3) | (1) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,289 | 3,339 | |
UBS AG | Gross carrying amount | 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 | 3,405 | 3,091 | |
UBS AG | Gross carrying amount | 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 | 857 | 978 | |
UBS AG | Gross carrying amount | 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 | 2,548 | 2,088 | |
UBS AG | Gross carrying amount | Rating category 0-1 | Forward starting 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 | 25 | |
UBS AG | Gross carrying amount | 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 | 657 | 803 | |
UBS AG | Gross carrying amount | 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 | 632 | 776 | |
UBS AG | Gross carrying amount | 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 | 25 | 27 | |
UBS AG | Gross carrying amount | 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 | 15,672 | 18,850 | |
UBS AG | Gross carrying amount | 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 | 4,932 | 6,673 | |
UBS AG | Gross carrying amount | 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 | 10,068 | 11,667 | |
UBS AG | Gross carrying amount | Rating category 2-3 | Forward starting 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 | 672 | 510 | |
UBS AG | Gross carrying amount | 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 | 15,745 | 13,772 | |
UBS AG | Gross carrying amount | 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 | 14,346 | 12,426 | |
UBS AG | Gross carrying amount | 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 | 1,399 | 1,346 | |
UBS AG | Gross carrying amount | 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 | 10,972 | 10,528 | |
UBS AG | Gross carrying amount | 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 | 6,060 | 3,859 | |
UBS AG | Gross carrying amount | 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 | 4,862 | 6,519 | |
UBS AG | Gross carrying amount | Rating category 4-5 | Forward starting 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 | 50 | 150 | |
UBS AG | Gross carrying amount | 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 | 7,101 | 6,221 | |
UBS AG | Gross carrying amount | 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 | 6,231 | 5,332 | |
UBS AG | Gross carrying amount | 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 | 870 | 889 | |
UBS AG | Gross carrying amount | 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 | 12,245 | 12,148 | |
UBS AG | Gross carrying amount | 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 | 5,450 | 5,415 | |
UBS AG | Gross carrying amount | 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 | 5,859 | 6,480 | |
UBS AG | Gross carrying amount | Rating category 6-8 | Forward starting 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 | 936 | 254 | |
UBS AG | Gross carrying amount | 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 | 7,801 | 13,041 | |
UBS AG | Gross carrying amount | 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 | 7,169 | 12,140 | |
UBS AG | Gross carrying amount | 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 | 633 | 901 | |
UBS AG | Gross carrying amount | 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 | 4,922 | 5,411 | |
UBS AG | Gross carrying amount | 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 | 761 | 1,006 | |
UBS AG | Gross carrying amount | 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 | 4,160 | 4,405 | |
UBS AG | Gross carrying amount | Rating category 9-13 | Forward starting 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 | Gross carrying amount | 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 | 8,913 | 8,238 | |
UBS AG | Gross carrying amount | 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 | 8,554 | 8,084 | |
UBS AG | Gross carrying amount | 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 | 359 | 154 | |
UBS AG | Gross carrying amount | 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 | 132 | 268 | |
UBS AG | Gross carrying amount | 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 | 82 | 215 | |
UBS AG | Gross carrying amount | 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 | 50 | 53 | |
UBS AG | Gross carrying amount | Rating category Defaulted | Forward starting 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 | Gross carrying amount | 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 | 50 | 115 | |
UBS AG | Gross carrying amount | 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 | 46 | 93 | |
UBS AG | Gross carrying amount | 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 | 4 | 22 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (181) | (176) | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | (58) | (59) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 85,513 | 89,048 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | (8) | (7) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 17,757 | 17,321 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | (30) | (32) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 27,078 | 30,590 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | Positions that are not credit impaired | Forward starting 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,657 | 937 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | (17) | (19) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 35,735 | 37,338 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | (3) | (1) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 3,285 | 2,861 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 857 | 978 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 2,548 | 2,088 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 632 | 768 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 25 | 27 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 4,931 | 6,670 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 10,068 | 11,667 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 14,309 | 12,398 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 1,399 | 1,315 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 6,048 | 3,849 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 4,862 | 6,519 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 6,120 | 5,202 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 870 | 680 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 5,218 | 5,013 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 5,722 | 6,297 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 6,789 | 11,367 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 633 | 701 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 704 | 811 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 3,878 | 4,020 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 7,889 | 7,603 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 359 | 137 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Twelve-month expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (160) | (183) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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) | (23) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,920 | 3,055 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | (1) | (2) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 304 | 611 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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) | (5) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 419 | 568 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Positions that are not credit impaired | Forward starting 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | (17) | (16) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 1,197 | 1,420 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 456 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 8 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 1 | 3 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 37 | 28 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 31 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 12 | 10 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 111 | 130 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 209 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 233 | 402 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 137 | 183 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 380 | 773 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 200 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 57 | 195 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 282 | 385 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 665 | 481 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | 17 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (688) | (695) | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | [1] | (33) | (34) |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | [1] | 182 | 383 |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Guarantees | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (33) | (34) | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 82 | 215 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Loan commitments | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | 0 | 0 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 50 | 53 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | Credit-impaired positions | Forward starting 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 46 | 93 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | |
Exposure To Credit Risk On Loan Commitments And Financial Guarantee Contracts | 4 | 22 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 0 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 82 | 215 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 50 | 53 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 46 | 93 | |
UBS AG | Gross carrying amount | Lifetime expected credit losses | 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 | 4 | 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 | (1,029) | (1,054) | |
UBS AG | Allowance for expected credit loss | Twelve-month expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (181) | (176) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Positions that are not credit impaired | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | (160) | (183) | |
UBS AG | Allowance for expected credit loss | Lifetime expected credit losses | Credit-impaired positions | |||
Disclosure Of Off Balance Sheet Positions Subject To Expected Credit Loss By Rating Category [Line Items] | |||
Financial Assets | $ (688) | $ (695) | |
[1] | Under IFRS 9, adopted on 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). |
Expected credit loss measure_16
Expected credit loss measurement - Credit impaired financial instruments at amortized cost (Narrative) (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Foreclosed Property [Line Items] | ||
Foreclosed Assets | $ 86 | $ 60 |
UBS AG | ||
Disclosure Of Foreclosed Property [Line Items] | ||
Foreclosed Assets | $ 86 | $ 60 |
Expected credit loss measure_17
Expected credit loss measurement - Credit impaired financial instruments at amortized cost (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Total credit-impaired financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | $ 576,815 | $ 587,104 |
Loans and advances to banks | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 12,447 | 16,868 |
Loans and advances to customers | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 326,786 | 320,352 |
Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 132,646 | 126,335 |
Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 38,481 | 36,474 |
Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 9,703 | 11,390 |
Loans and advances to customers | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 11,786 | 9,924 |
Loans and advances to customers | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 112,893 | 111,722 |
Other financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 22,980 | 22,563 |
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] | 2,326 | 2,226 |
Collateral / credit enhancements | 1,720 | 1,666 | |
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 |
Collateral / credit enhancements | 0 | 0 | |
Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loans and advances to customers | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 1,749 | 1,748 |
Collateral / credit enhancements | 1,698 | 1,654 | |
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] | 959 | 796 |
Collateral / credit enhancements | 959 | 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] | 17 | 38 |
Collateral / credit enhancements | 13 | 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] | 94 | 88 |
Collateral / credit enhancements | 77 | 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] | 521 | 632 |
Collateral / credit enhancements | 461 | 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] | 98 | 14 |
Collateral / credit enhancements | 89 | 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] | 576 | 478 |
Collateral / credit enhancements | 22 | 12 | |
Gross carrying amount | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
Gross carrying amount | Total credit-impaired financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 577,730 | 588,039 | |
Gross carrying amount | Loans and advances to banks | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 12,454 | 16,875 | |
Gross carrying amount | Loans and advances to customers | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 327,550 | 321,124 | |
Gross carrying amount | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 132,756 | ||
Gross carrying amount | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 38,524 | ||
Gross carrying amount | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 9,819 | ||
Gross carrying amount | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 12,089 | ||
Gross carrying amount | Loans and advances to customers | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 112,915 | ||
Gross carrying amount | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 23,123 | 22,718 | |
Gross carrying amount | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (114) | (116) | |
Provisions for off-balance sheet financial instruments | 85,728 | 90,268 | |
Gross carrying amount | Guarantees | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (42) | (43) | |
Provisions for off-balance sheet financial instruments | 18,142 | 18,146 | |
Gross carrying amount | Guarantees | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (10) | (8) | |
Provisions for off-balance sheet financial instruments | 3,687 | 3,862 | |
Gross carrying amount | Guarantees | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (24) | (26) | |
Provisions for off-balance sheet financial instruments | 1,180 | 1,298 | |
Gross carrying amount | Guarantees | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1) | 0 | |
Provisions for off-balance sheet financial instruments | 622 | 834 | |
Gross carrying amount | Loan commitments | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (35) | (37) | |
Provisions for off-balance sheet financial instruments | 27,547 | 31,212 | |
Gross carrying amount | Loan commitments | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (27) | (31) | |
Provisions for off-balance sheet financial instruments | 18,735 | 22,019 | |
Gross carrying amount | Committed unconditionally revocable credit lines | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (34) | (36) | |
Provisions for off-balance sheet financial instruments | 35,092 | 36,634 | |
Gross carrying amount | Committed unconditionally revocable credit lines | Real estate financing | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (16) | (17) | |
Provisions for off-balance sheet financial instruments | 5,242 | 2,562 | |
Gross carrying amount | Committed unconditionally revocable credit lines | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1) | (2) | |
Provisions for off-balance sheet financial instruments | 4,274 | 4,260 | |
Gross carrying amount | Committed unconditionally revocable credit lines | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (9) | (7) | |
Provisions for off-balance sheet financial instruments | 4,787 | 4,505 | |
Gross carrying amount | Committed unconditionally revocable credit lines | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 7,976 | 7,402 | |
Gross carrying amount | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (3) | (1) | |
Provisions for off-balance sheet financial instruments | 3,289 | 3,339 | |
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (688) | (695) | |
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 | [2] | 2,981 | 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 | 1 | 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 | 2,308 | 2,297 | |
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 | 1,000 | 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 | 21 | 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 | 192 | 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 | 791 | 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 | 116 | 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 | 672 | 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] | |||
Financial assets | [2] | (33) | (34) |
Provisions for off-balance sheet financial instruments | [2] | 182 | 383 |
Collateral / credit enhancements | 27 | 102 | |
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (33) | (34) | |
Provisions for off-balance sheet financial instruments | 82 | 215 | |
Collateral / credit enhancements | 10 | 84 | |
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (9) | (6) | |
Provisions for off-balance sheet financial instruments | 24 | 127 | |
Collateral / credit enhancements | 8 | 79 | |
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (23) | (25) | |
Provisions for off-balance sheet financial instruments | 58 | 77 | |
Collateral / credit enhancements | 2 | 5 | |
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1) | 0 | |
Provisions for off-balance sheet financial instruments | 0 | 0 | |
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 50 | 53 | |
Collateral / credit enhancements | 12 | 8 | |
Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 27 | 7 | |
Gross carrying amount | 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 | |
Provisions for off-balance sheet financial instruments | 46 | 93 | |
Collateral / credit enhancements | 5 | 9 | |
Gross carrying amount | 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 | |
Provisions for off-balance sheet financial instruments | 0 | 11 | |
Gross carrying amount | 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 | 0 | |
Provisions for off-balance sheet financial instruments | 17 | 17 | |
Gross carrying amount | 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 | |
Provisions for off-balance sheet financial instruments | 27 | 57 | |
Gross carrying amount | 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 | 0 | |
Provisions for off-balance sheet financial instruments | 1 | 0 | |
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] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 4 | 22 | |
Collateral / credit enhancements | 0 | 0 | |
Allowance for expected credit loss | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
Allowance for expected credit loss | Total credit-impaired financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (915) | (937) | |
Allowance for expected credit loss | Loans and advances to banks | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (6) | (7) | |
Allowance for expected credit loss | Loans and advances to customers | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (764) | (772) | |
Allowance for expected credit loss | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (110) | (138) | |
Allowance for expected credit loss | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (43) | (59) | |
Allowance for expected credit loss | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (117) | (95) | |
Allowance for expected credit loss | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (303) | (281) | |
Allowance for expected credit loss | Loans and advances to customers | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (22) | (21) | |
Allowance for expected credit loss | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (143) | (155) | |
Allowance for expected credit loss | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (688) | (695) | |
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 | [2] | (655) | (660) |
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 | (1) | (3) | |
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 | (559) | (549) | |
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 | (41) | (39) | |
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 | (4) | (16) | |
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 | (98) | (82) | |
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 | (271) | (256) | |
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 | (18) | (17) | |
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 | (95) | (109) | |
UBS AG | Total credit-impaired financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 577,985 | 588,084 |
UBS AG | Loans and advances to banks | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 12,379 | 16,642 |
UBS AG | Loans and advances to customers | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 327,992 | 321,482 |
UBS AG | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 132,646 | 126,335 |
UBS AG | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 38,481 | 36,474 |
UBS AG | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 9,703 | 11,390 |
UBS AG | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 11,786 | 9,924 |
UBS AG | Loans and advances to customers | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 112,893 | 111,722 |
UBS AG | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | [1] | 23,012 | 22,637 |
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] | 2,326 | 2,226 |
Collateral / credit enhancements | 1,720 | 1,666 | |
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 |
Collateral / credit enhancements | 0 | 0 | |
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] | 1,749 | 1,748 |
Collateral / credit enhancements | 1,698 | 1,654 | |
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] | 959 | 796 |
Collateral / credit enhancements | 959 | 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] | 17 | 38 |
Collateral / credit enhancements | 13 | 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] | 94 | 88 |
Collateral / credit enhancements | 77 | 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] | 521 | 632 |
Collateral / credit enhancements | 461 | 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] | 98 | 14 |
Collateral / credit enhancements | 89 | 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] | 576 | 478 |
Collateral / credit enhancements | 22 | 12 | |
UBS AG | Gross carrying amount | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
UBS AG | Gross carrying amount | Total credit-impaired financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 578,899 | 589,020 | |
UBS AG | Gross carrying amount | Loans and advances to banks | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 12,386 | 16,649 | |
UBS AG | Gross carrying amount | Loans and advances to customers | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 328,756 | 322,255 | |
UBS AG | Gross carrying amount | Loans and advances to customers | Private clients with mortgages | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 132,756 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Real estate financing | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 38,524 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 9,819 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 12,089 | ||
UBS AG | Gross carrying amount | Loans and advances to customers | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 112,915 | ||
UBS AG | Gross carrying amount | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 23,154 | 22,792 | |
UBS AG | Gross carrying amount | Total off-balance sheet financial instruments and other credit lines | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (114) | (116) | |
Provisions for off-balance sheet financial instruments | 87,614 | 92,486 | |
UBS AG | Gross carrying amount | Guarantees | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (42) | (43) | |
Provisions for off-balance sheet financial instruments | 18,142 | 18,146 | |
UBS AG | Gross carrying amount | Guarantees | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (10) | (8) | |
Provisions for off-balance sheet financial instruments | 3,687 | 3,862 | |
UBS AG | Gross carrying amount | Guarantees | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (24) | (26) | |
Provisions for off-balance sheet financial instruments | 1,180 | 1,298 | |
UBS AG | Gross carrying amount | Guarantees | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1) | 0 | |
Provisions for off-balance sheet financial instruments | 622 | 834 | |
UBS AG | Gross carrying amount | Loan commitments | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (35) | (37) | |
Provisions for off-balance sheet financial instruments | 27,547 | 31,212 | |
UBS AG | Gross carrying amount | Loan commitments | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (27) | (31) | |
Provisions for off-balance sheet financial instruments | 18,735 | 22,019 | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (34) | (36) | |
Provisions for off-balance sheet financial instruments | 36,979 | 38,851 | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | Real estate financing | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (16) | (17) | |
Provisions for off-balance sheet financial instruments | 5,242 | 2,562 | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1) | (2) | |
Provisions for off-balance sheet financial instruments | 4,274 | 4,260 | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (9) | (7) | |
Provisions for off-balance sheet financial instruments | 4,787 | 4,505 | |
UBS AG | Gross carrying amount | Committed unconditionally revocable credit lines | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 7,976 | 7,402 | |
UBS AG | Gross carrying amount | Irrevocable committed prolongation of existing loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (3) | (1) | |
Provisions for off-balance sheet financial instruments | 3,289 | 3,339 | |
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (688) | (695) | |
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 | [2] | 2,981 | 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 | 1 | 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 | 2,308 | 2,297 | |
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 | 1,000 | 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 | 21 | 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 | 192 | 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 | 791 | 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 | 116 | 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 | 672 | 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] | |||
Financial assets | [2] | (33) | (34) |
Provisions for off-balance sheet financial instruments | [2] | 182 | 383 |
Collateral / credit enhancements | 27 | 102 | |
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (33) | (34) | |
Provisions for off-balance sheet financial instruments | 82 | 215 | |
Collateral / credit enhancements | 10 | 84 | |
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] | |||
Financial assets | (9) | (6) | |
Provisions for off-balance sheet financial instruments | 24 | 127 | |
Collateral / credit enhancements | 8 | 79 | |
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (23) | (25) | |
Provisions for off-balance sheet financial instruments | 58 | 77 | |
Collateral / credit enhancements | 2 | 5 | |
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Guarantees | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1) | 0 | |
Provisions for off-balance sheet financial instruments | 0 | 0 | |
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 50 | 53 | |
Collateral / credit enhancements | 12 | 8 | |
UBS AG | Gross carrying amount | Lifetime Expected Credit Losses [Member] | Credit-impaired positions | Loan commitments | Large corporate clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 27 | 7 | |
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] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 46 | 93 | |
Collateral / credit enhancements | 5 | 9 | |
UBS AG | Gross carrying amount | 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 | |
Provisions for off-balance sheet financial instruments | 0 | 11 | |
UBS AG | Gross carrying amount | 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 | 0 | |
Provisions for off-balance sheet financial instruments | 17 | 17 | |
UBS AG | Gross carrying amount | 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 | |
Provisions for off-balance sheet financial instruments | 27 | 57 | |
UBS AG | Gross carrying amount | 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 | 0 | |
Provisions for off-balance sheet financial instruments | 1 | 0 | |
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] | |||
Financial assets | 0 | 0 | |
Provisions for off-balance sheet financial instruments | 4 | 22 | |
Collateral / credit enhancements | 0 | 0 | |
UBS AG | Allowance for expected credit loss | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (1,029) | (1,054) | |
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 | (915) | (937) | |
UBS AG | Allowance for expected credit loss | Loans and advances to banks | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (6) | (7) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (764) | (772) | |
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 | (110) | (138) | |
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 | (43) | (59) | |
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 | (117) | (95) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | SME clients | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (303) | (281) | |
UBS AG | Allowance for expected credit loss | Loans and advances to customers | Lombard loans | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (22) | (21) | |
UBS AG | Allowance for expected credit loss | Other financial assets measured at amortized cost | |||
Disclosure Of Credit Impaired Financial Instruments [Line Items] | |||
Financial assets | (143) | (155) | |
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 | (688) | (695) | |
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 | [2] | (655) | (660) |
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 | (1) | (3) | |
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 | (559) | (549) | |
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 | (41) | (39) | |
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 | (4) | (16) | |
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 | (98) | (82) | |
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 | (271) | (256) | |
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 | (18) | (17) | |
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 | $ (95) | $ (109) | |
[1] | The carrying amount of financial assets measured at amortized cost represents the total gross exposure net of the respective ECL allowances. | ||
[2] | Under IFRS 9, adopted on 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). |
Expected credit loss measure_18
Expected credit loss measurement - Scenario weights (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | [1] | $ 78 | $ 118 | $ 131 |
Weighted average | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 341 | $ 359 | ||
ECL with adjusted probabilities of scenario weights in percent of baseline | 149.00% | 152.00% | ||
Weighted average | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 73 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 248.00% | |||
Weighted average | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 55 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 169.00% | |||
Weighted average | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 48 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 151.00% | |||
Weighted average | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 51 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 112.00% | |||
Weighted average | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 113 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 127.00% | |||
Baseline ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 234 | $ 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 | $ 32 | |||
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 | $ 35 | |||
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 | $ 32 | |||
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 | $ 45 | |||
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 | $ 90 | |||
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 | $ 203 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 87.00% | |||
Upside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 27 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 84.00% | |||
Upside ECL scenario | Real estate financing | ||||
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 | 81.00% | |||
Upside ECL scenario | Large corporate 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 | 87.00% | |||
Upside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 42 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 93.00% | |||
Upside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 78 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 87.00% | |||
Mild downside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 387 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 166.00% | |||
Mild downside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 107 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 336.00% | |||
Mild downside ECL scenario | 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 | 175.00% | |||
Mild downside ECL scenario | Large corporate 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 | 120.00% | |||
Mild downside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 55 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 121.00% | |||
Mild downside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 126 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 140.00% | |||
Severe downside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 646 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 276.00% | |||
Severe downside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 179 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 562.00% | |||
Severe downside ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 128 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 368.00% | |||
Severe downside ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 106 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 329.00% | |||
Severe downside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 67 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 147.00% | |||
Severe downside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 166 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 185.00% | |||
Lifetime weighted average | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 713 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 312.00% | |||
Lifetime weighted average | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 191 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 646.00% | |||
Lifetime weighted average | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 82 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 251.00% | |||
Lifetime weighted average | Large corporate clients | ||||
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 | 296.00% | |||
Lifetime weighted average | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 93 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 205.00% | |||
Lifetime weighted average | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 252 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 283.00% | |||
UBS AG | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | [1],[2] | $ 78 | 117 | $ 131 |
UBS AG | Weighted average | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 341 | $ 359 | ||
ECL with adjusted probabilities of scenario weights in percent of baseline | 149.00% | 152.00% | ||
UBS AG | Weighted average | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 73 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 248.00% | |||
UBS AG | Weighted average | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 55 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 169.00% | |||
UBS AG | Weighted average | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 48 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 151.00% | |||
UBS AG | Weighted average | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 51 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 112.00% | |||
UBS AG | Weighted average | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 113 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 127.00% | |||
UBS AG | Baseline ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 234 | $ 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 | $ 32 | |||
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 | $ 35 | |||
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 | $ 32 | |||
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 | $ 45 | |||
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 | $ 90 | |||
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 | $ 203 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 87.00% | |||
UBS AG | Upside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 27 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 84.00% | |||
UBS AG | Upside ECL scenario | Real estate financing | ||||
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 | 81.00% | |||
UBS AG | Upside ECL scenario | Large corporate 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 | 87.00% | |||
UBS AG | Upside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 42 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 93.00% | |||
UBS AG | Upside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 78 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 87.00% | |||
UBS AG | Mild downside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 387 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 166.00% | |||
UBS AG | Mild downside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 107 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 336.00% | |||
UBS AG | Mild downside ECL scenario | 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 | 175.00% | |||
UBS AG | Mild downside ECL scenario | Large corporate 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 | 120.00% | |||
UBS AG | Mild downside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 55 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 121.00% | |||
UBS AG | Mild downside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 126 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 140.00% | |||
UBS AG | Severe downside ECL scenario | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 646 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 276.00% | |||
UBS AG | Severe downside ECL scenario | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 179 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 562.00% | |||
UBS AG | Severe downside ECL scenario | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 128 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 368.00% | |||
UBS AG | Severe downside ECL scenario | Large corporate clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 106 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 329.00% | |||
UBS AG | Severe downside ECL scenario | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 67 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 147.00% | |||
UBS AG | Severe downside ECL scenario | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 166 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 185.00% | |||
UBS AG | Lifetime weighted average | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 713 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 312.00% | |||
UBS AG | Lifetime weighted average | Private clients with mortgages | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 191 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 646.00% | |||
UBS AG | Lifetime weighted average | Real estate financing | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 82 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 251.00% | |||
UBS AG | Lifetime weighted average | Large corporate clients | ||||
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 | 296.00% | |||
UBS AG | Lifetime weighted average | SME clients | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 93 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 205.00% | |||
UBS AG | Lifetime weighted average | Other segments | ||||
ECL Measurement Sensitivity Analysis [Line Items] | ||||
Expected credit loss adjusted with scenario weights | $ 252 | |||
ECL with adjusted probabilities of scenario weights in percent of baseline | 283.00% | |||
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[2] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. |
Expected credit loss measure_19
Expected credit loss measurement - Sensitivity analysis (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
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 |
Expected credit loss measure_20
Expected credit loss measurement - Sensitivity analysis (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Baseline ECL scenario | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | $ 1,000 |
Baseline ECL scenario | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 210 |
Baseline ECL scenario | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (160) |
Baseline ECL scenario | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (250) |
Baseline ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 340 |
Baseline ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 60 |
Baseline ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (20) |
Baseline ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 3,340 |
Baseline ECL scenario | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (6,720) |
Baseline ECL scenario | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,000) |
Baseline ECL scenario | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,260 |
Baseline ECL scenario | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 8,560 |
Baseline ECL scenario | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,500 |
Baseline ECL scenario | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,790) |
Upside ECL scenario | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 590 |
Upside ECL scenario | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 130 |
Upside ECL scenario | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (90) |
Upside ECL scenario | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (420) |
Upside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (520) |
Upside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (310) |
Upside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 470 |
Upside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 4,030 |
Upside ECL scenario | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (4,790) |
Upside ECL scenario | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (1,450) |
Upside ECL scenario | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 1,650 |
Upside ECL scenario | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 5,930 |
Upside ECL scenario | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,420 |
Upside ECL scenario | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (1,470) |
Mild downside ECL scenario | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 4,670 |
Mild downside ECL scenario | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 850 |
Mild downside ECL scenario | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (900) |
Mild downside ECL scenario | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (4,660) |
Mild downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (25,250) |
Mild downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (7,720) |
Mild downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 7,750 |
Mild downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 36,650 |
Mild downside ECL scenario | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (26,410) |
Mild downside ECL scenario | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (7,790) |
Mild downside ECL scenario | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 8,740 |
Mild downside ECL scenario | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 36,270 |
Mild downside ECL scenario | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,420 |
Mild downside ECL scenario | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,470) |
Severe downside ECL scenario | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 9,500 |
Severe downside ECL scenario | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 1,890 |
Severe downside ECL scenario | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,160) |
Severe downside ECL scenario | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (8,510) |
Severe downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (210) |
Severe downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (110) |
Severe downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 120 |
Severe downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 110 |
Severe downside ECL scenario | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (54,970) |
Severe downside ECL scenario | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (16,200) |
Severe downside ECL scenario | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 17,310 |
Severe downside ECL scenario | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 73,040 |
Severe downside ECL scenario | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 1,010 |
Severe downside ECL scenario | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (1,010) |
Weighted average | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 3,060 |
Weighted average | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 560 |
Weighted average | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (540) |
Weighted average | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,520) |
Weighted average | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (7,690) |
Weighted average | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,310) |
Weighted average | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,180 |
Weighted average | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 13,350 |
Weighted average | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (18,020) |
Weighted average | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (5,430) |
Weighted average | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 5,990 |
Weighted average | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 24,360 |
Weighted average | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,190 |
Weighted average | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,370) |
UBS AG | Baseline ECL scenario | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 1,000 |
UBS AG | Baseline ECL scenario | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 210 |
UBS AG | Baseline ECL scenario | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (160) |
UBS AG | Baseline ECL scenario | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (250) |
UBS AG | Baseline ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 340 |
UBS AG | Baseline ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 60 |
UBS AG | Baseline ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (20) |
UBS AG | Baseline ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 3,340 |
UBS AG | Baseline ECL scenario | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (6,720) |
UBS AG | Baseline ECL scenario | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,000) |
UBS AG | Baseline ECL scenario | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,260 |
UBS AG | Baseline ECL scenario | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 8,560 |
UBS AG | Baseline ECL scenario | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,500 |
UBS AG | Baseline ECL scenario | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,790) |
UBS AG | Upside ECL scenario | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 590 |
UBS AG | Upside ECL scenario | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 130 |
UBS AG | Upside ECL scenario | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (90) |
UBS AG | Upside ECL scenario | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (420) |
UBS AG | Upside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (520) |
UBS AG | Upside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (310) |
UBS AG | Upside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 470 |
UBS AG | Upside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 4,030 |
UBS AG | Upside ECL scenario | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (4,790) |
UBS AG | Upside ECL scenario | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (1,450) |
UBS AG | Upside ECL scenario | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 1,650 |
UBS AG | Upside ECL scenario | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 5,930 |
UBS AG | Upside ECL scenario | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,420 |
UBS AG | Upside ECL scenario | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (1,470) |
UBS AG | Mild downside ECL scenario | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 4,670 |
UBS AG | Mild downside ECL scenario | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 850 |
UBS AG | Mild downside ECL scenario | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (900) |
UBS AG | Mild downside ECL scenario | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (4,660) |
UBS AG | Mild downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (25,250) |
UBS AG | Mild downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (7,720) |
UBS AG | Mild downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 7,750 |
UBS AG | Mild downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 36,650 |
UBS AG | Mild downside ECL scenario | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (26,410) |
UBS AG | Mild downside ECL scenario | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (7,790) |
UBS AG | Mild downside ECL scenario | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 8,740 |
UBS AG | Mild downside ECL scenario | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 36,270 |
UBS AG | Mild downside ECL scenario | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,420 |
UBS AG | Mild downside ECL scenario | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,470) |
UBS AG | Severe downside ECL scenario | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 9,500 |
UBS AG | Severe downside ECL scenario | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 1,890 |
UBS AG | Severe downside ECL scenario | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,160) |
UBS AG | Severe downside ECL scenario | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (8,510) |
UBS AG | Severe downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (210) |
UBS AG | Severe downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (110) |
UBS AG | Severe downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 120 |
UBS AG | Severe downside ECL scenario | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 110 |
UBS AG | Severe downside ECL scenario | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (54,970) |
UBS AG | Severe downside ECL scenario | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (16,200) |
UBS AG | Severe downside ECL scenario | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 17,310 |
UBS AG | Severe downside ECL scenario | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 73,040 |
UBS AG | Severe downside ECL scenario | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 1,010 |
UBS AG | Severe downside ECL scenario | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (1,010) |
UBS AG | Weighted average | Eurozone Housing Price Index | Minus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 3,060 |
UBS AG | Weighted average | Eurozone Housing Price Index | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 560 |
UBS AG | Weighted average | Eurozone Housing Price Index | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (540) |
UBS AG | Weighted average | Eurozone Housing Price Index | Plus 5.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,520) |
UBS AG | Weighted average | Fixed income: 10-year government bonds (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (7,690) |
UBS AG | Weighted average | Fixed income: 10-year government bonds (relative change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (2,310) |
UBS AG | Weighted average | Fixed income: 10-year government bonds (relative change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,180 |
UBS AG | Weighted average | Fixed income: 10-year government bonds (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 13,350 |
UBS AG | Weighted average | Unemployment rate (absolute change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (18,020) |
UBS AG | Weighted average | Unemployment rate (absolute change) | Minus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | (5,430) |
UBS AG | Weighted average | Unemployment rate (absolute change) | Plus 0.25 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 5,990 |
UBS AG | Weighted average | Unemployment rate (absolute change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 24,360 |
UBS AG | Weighted average | Real GDP growth (relative change) | Minus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | 2,190 |
UBS AG | Weighted average | Real GDP growth (relative change) | Plus 1.00 percent | |
Disclosure Of Key Macro Economic Variables Used For Expected Credit Loss Model [Line Items] | |
Economic forecast financial effect | $ (2,370) |
FVM - Fair value hierarchy - As
FVM - Fair value hierarchy - Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | $ 362,448 | $ 341,156 | |
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] | 127,514 | 104,370 | |
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] | 96,787 | 72,768 | |
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] | 11,464 | 11,161 | |
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] | 8,867 | 9,716 | |
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] | 7,914 | 6,768 | |
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] | 1,971 | 3,566 | |
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] | 512 | 392 | |
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] | 121,841 | 126,210 | |
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] | 52,474 | 53,489 | |
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] | 42,558 | 37,076 | |
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] | 22,825 | 31,404 | |
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] | 2,007 | 1,920 | |
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] | 1,821 | 1,769 | |
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] | 18,007 | 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] | 83,944 | 82,690 | |
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] | 559 | 702 | |
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] | 15,790 | 22,493 | |
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] | 6,294 | 9,937 | |
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] | 1,536 | 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] | 740 | 710 | |
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] | 27,686 | 21,446 | |
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] | 19,385 | 17,236 | |
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] | 11,438 | 8,132 | |
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] | 515 | 369 | |
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] | 6,345 | 6,667 | |
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] | 1,875 | 2,239 | |
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] | 515 | 497 | |
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] | 3,955 | 3,931 | |
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] | 0 | 0 | |
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] | 4,597 | 4,298 | |
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] | 199 | 82 | |
Level 1 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 161,101 | 136,026 | |
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] | 113,634 | 88,452 | |
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] | 96,161 | 72,266 | |
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] | 9,630 | 9,554 | |
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] | 7,088 | 6,074 | |
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] | 755 | 558 | |
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 | 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 | Derivative financial instruments | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 356 | 753 | |
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] | 240 | 311 | |
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] | 6 | 0 | |
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] | 7 | 3 | |
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 | 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] | 0 | 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] | 40,608 | 40,204 | |
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] | 103 | 123 | |
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] | 12,089 | 17,687 | |
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] | 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] | 0 | 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] | 194 | 173 | |
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] | 27,568 | 21,440 | |
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] | 653 | 781 | |
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 | 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] | 1,906 | 2,319 | |
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] | 1,859 | 2,171 | |
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] | 47 | 149 | |
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] | 0 | 0 | |
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] | 4,597 | 4,298 | |
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] | 0 | 0 | |
Level 2 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 194,110 | 197,331 | |
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] | 12,068 | 13,956 | |
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] | 400 | 455 | |
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] | 1,770 | 1,607 | |
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] | 1,729 | 3,200 | |
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] | 6,617 | 5,559 | |
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] | 1,180 | 2,886 | |
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] | 372 | 248 | |
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] | 120,222 | 124,033 | |
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] | 52,227 | 53,148 | |
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] | 42,288 | 36,658 | |
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] | 22,220 | 30,905 | |
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] | 1,612 | 1,444 | |
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] | 1,820 | 1,768 | |
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] | 18,007 | 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] | 39,373 | 38,073 | |
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] | 4 | 62 | |
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] | 3,700 | 4,806 | |
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] | 6,148 | 9,899 | |
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] | 0 | 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] | 448 | 428 | |
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] | 118 | 5 | |
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] | 18,732 | 16,455 | |
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] | 10,206 | 6,380 | |
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] | 16 | 38 | |
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] | 4,439 | 4,347 | |
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] | 16 | 69 | |
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] | 468 | 348 | |
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] | 3,955 | 3,931 | |
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] | 0 | 0 | |
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] | 0 | 82 | |
Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 7,237 | 7,800 | |
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] | 1,812 | 1,962 | |
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] | 226 | 46 | |
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] | 64 | 0 | |
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] | 50 | 442 | |
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] | 542 | 651 | |
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] | 791 | 680 | |
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] | 140 | 144 | |
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] | 1,264 | 1,424 | |
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] | 8 | 30 | |
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] | 263 | 418 | |
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] | 597 | 496 | |
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] | 394 | 476 | |
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] | 0 | 2 | |
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] | 0 | 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] | 3,963 | 4,413 | |
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] | 452 | 517 | |
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 | Securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 147 | 39 | |
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] | 1,536 | 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] | 98 | 109 | |
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 | 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] | 1,231 | 1,752 | |
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] | 499 | 331 | |
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] | 0 | 0 | |
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 | 0 | |
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] | 0 | 0 | |
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] | 199 | 0 | |
UBS AG | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 362,322 | 340,999 | |
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] | 127,695 | 104,513 | |
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] | 96,788 | 72,771 | |
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] | 11,464 | 11,161 | |
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] | 8,867 | 6,074 | |
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] | 8,093 | 558 | |
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] | 1,971 | 0 | |
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] | 512 | 0 | |
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] | 121,843 | 126,212 | |
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] | 52,476 | 53,492 | |
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] | 42,558 | 37,076 | |
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] | 22,825 | 31,404 | |
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] | 2,007 | 1,920 | |
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] | 1,821 | 1,769 | |
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] | 18,007 | 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] | 83,636 | 82,387 | |
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] | 559 | 702 | |
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] | 15,790 | 22,493 | |
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] | 6,294 | 9,937 | |
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] | 1,536 | [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] | 432 | 407 | |
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] | 27,686 | 21,446 | |
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] | 19,385 | 17,236 | |
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] | 11,438 | 8,132 | |
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] | 515 | 369 | |
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] | 6,345 | 6,667 | |
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] | 1,875 | 2,239 | |
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] | 515 | 497 | |
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] | 3,955 | 3,931 | |
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] | 0 | 0 | |
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] | 4,597 | 4,298 | |
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],[3] | 199 | 82 | |
UBS AG | Level 1 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 161,102 | 136,029 | |
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] | 113,635 | 88,455 | |
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] | 96,162 | 72,270 | |
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] | 9,630 | 9,554 | |
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] | 7,088 | 3,200 | |
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] | 755 | 5,699 | |
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 | 2,886 | |
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 | 248 | |
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] | 356 | 753 | |
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] | 240 | 311 | |
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] | 6 | 0 | |
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] | 7 | 3 | |
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 | 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] | 0 | 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] | 40,608 | 40,204 | |
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] | 103 | 123 | |
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] | 12,089 | 17,687 | |
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] | 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] | 0 | [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] | 194 | 173 | |
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] | 27,568 | 21,440 | |
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] | 653 | 781 | |
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 | 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] | 1,906 | 2,319 | |
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] | 1,859 | 2,171 | |
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] | 47 | 149 | |
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] | 0 | 0 | |
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] | 4,597 | 4,298 | |
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],[3] | 0 | 0 | |
UBS AG | Level 2 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 193,983 | 197,170 | |
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] | 12,248 | 14,096 | |
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] | 400 | 455 | |
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] | 1,770 | 1,607 | |
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] | 1,729 | 442 | |
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] | 6,796 | 651 | |
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] | 1,180 | 680 | |
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] | 372 | 144 | |
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] | 120,224 | 124,035 | |
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] | 52,228 | 53,151 | |
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] | 42,288 | 36,658 | |
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] | 22,220 | 30,905 | |
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] | 1,612 | 1,444 | |
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] | 1,820 | 1,768 | |
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] | 18,007 | 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] | 39,065 | 37,770 | |
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] | 4 | 62 | |
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] | 3,700 | 4,806 | |
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] | 6,148 | 9,899 | |
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] | 0 | [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] | 140 | 125 | |
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] | 118 | 5 | |
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] | 18,732 | 16,455 | |
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] | 10,206 | 6,380 | |
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] | 16 | 38 | |
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] | 4,439 | 4,347 | |
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] | 16 | 69 | |
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] | 468 | 348 | |
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] | 3,955 | 3,931 | |
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] | 0 | 0 | |
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],[3] | 0 | 82 | |
UBS AG | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 7,237 | 7,800 | |
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] | 1,812 | 1,962 | |
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] | 226 | 46 | |
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] | 64 | 0 | |
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] | 50 | 9,716 | |
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] | 542 | 6,908 | |
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] | 791 | 3,566 | |
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] | 140 | 392 | |
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] | 1,264 | 1,424 | |
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] | 8 | 30 | |
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] | 263 | 418 | |
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] | 597 | 496 | |
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] | 394 | 476 | |
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] | 0 | 2 | |
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] | 0 | 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] | 3,962 | 4,413 | |
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] | 451 | 517 | |
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 | Securities financing transactions | ||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | ||||
Financial assets, at fair value | [1] | 147 | 39 | |
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] | 1,536 | [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] | 98 | 109 | |
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 | 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] | 1,231 | 1,752 | |
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] | 499 | 331 | |
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] | 0 | 0 | |
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 | 0 | |
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] | 0 | 0 | |
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],[3] | $ 199 | $ 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] | Fair value hierarchy information for Financial assets for unit-linked investment contracts in the comparative period has been restated, resulting in an increase in Level 1 assets of USD 4,746 million as of 31 December 2018, with a corresponding decrease in Level 2 assets. | |||
[3] | 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, 2019 | Dec. 31, 2018 | ||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | $ 291,452 | $ 283,711 | |
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] | 30,591 | 28,943 | |
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] | 3,466 | 2,839 | |
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] | 3,661 | 3,530 | |
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] | 698 | 689 | |
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] | 22,734 | 21,886 | |
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] | 120,880 | 125,723 | |
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] | 36,571 | 32,743 | |
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] | 2,960 | 2,722 | |
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] | 54,013 | 53,372 | |
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] | 25,468 | 35,041 | |
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] | 1,707 | 1,487 | |
Measured at fair value on a recurring basis | Brokerage payables designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 37,233 | 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] | 66,809 | 57,031 | |
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] | 35,940 | 33,594 | |
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] | 28,145 | 21,679 | |
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] | 5,742 | 9,461 | |
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] | 2,022 | 2,450 | |
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 1 | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 26,176 | 24,986 | |
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] | 25,791 | 24,406 | |
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] | 2,820 | 2,423 | |
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] | 40 | 126 | |
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] | 404 | 551 | |
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] | 22,526 | 21,306 | |
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] | 385 | 580 | |
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 | 7 | |
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] | 248 | 322 | |
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] | 3 | 1 | |
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 payables 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 | 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] | 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] | 252,518 | 244,465 | |
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] | 4,726 | 4,468 | |
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] | 646 | 416 | |
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] | 3,606 | 3,377 | |
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] | 294 | 137 | |
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] | 149 | 537 | |
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] | 118,498 | 122,933 | |
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] | 36,434 | 32,511 | |
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] | 2,448 | 2,203 | |
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] | 53,705 | 52,964 | |
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] | 24,171 | 33,669 | |
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] | 1,707 | 1,487 | |
Level 2 | Measured at fair value on a recurring basis | Brokerage payables designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 37,233 | 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] | 56,943 | 46,074 | |
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] | 35,119 | 32,569 | |
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] | 28,145 | 21,679 | |
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] | 5,742 | 9,461 | |
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] | 1,231 | 1,427 | |
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 | 0 | |
Level 3 | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 12,759 | 14,260 | |
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] | 75 | 69 | |
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] | 16 | 27 | |
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 | 0 | |
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] | 59 | 42 | |
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] | 1,996 | 2,210 | |
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] | 130 | 226 | |
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] | 512 | 519 | |
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] | 60 | 86 | |
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] | 1,293 | 1,371 | |
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 | 0 | |
Level 3 | Measured at fair value on a recurring basis | Brokerage payables designated at fair value | ||||
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 | Debt issued designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 9,866 | 10,957 | |
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] | 822 | 1,025 | |
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] | 0 | 0 | |
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] | 791 | 1,023 | |
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] | 291,452 | 283,717 | |
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] | 30,591 | 28,949 | |
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] | 3,466 | 2,839 | |
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] | 3,661 | 3,530 | |
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] | 698 | 689 | |
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] | 22,734 | 21,892 | |
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] | 120,880 | 125,723 | |
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] | 2,960 | 2,722 | |
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] | 1,707 | 1,487 | |
UBS AG | Measured at fair value on a recurring basis | Brokerage payables designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 37,233 | [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] | 66,592 | 57,031 | |
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] | 36,157 | 33,594 | |
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] | 28,145 | 21,679 | |
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] | 5,742 | 9,461 | |
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] | 2,022 | 2,450 | |
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 | 0 | |
UBS AG | Level 1 | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 26,176 | 24,992 | |
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] | 25,791 | 24,413 | |
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] | 2,820 | 2,423 | |
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] | 40 | 126 | |
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] | 404 | 551 | |
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] | 22,526 | 21,313 | |
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] | 385 | 580 | |
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] | 0 | 0 | |
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 payables designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | [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] | 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] | 252,518 | 244,465 | |
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] | 4,726 | 4,468 | |
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] | 646 | 416 | |
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] | 3,606 | 3,377 | |
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] | 294 | 137 | |
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] | 149 | 537 | |
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] | 118,498 | 122,933 | |
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] | 2,448 | 2,203 | |
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] | 1,707 | 1,487 | |
UBS AG | Level 2 | Measured at fair value on a recurring basis | Brokerage payables designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 37,233 | [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] | 56,943 | 46,074 | |
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] | 35,119 | 32,569 | |
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] | 28,145 | 21,679 | |
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] | 5,742 | 9,461 | |
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] | 1,231 | 1,427 | |
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 | 0 | |
UBS AG | Level 3 | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 12,759 | 14,260 | |
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] | 75 | 69 | |
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] | 16 | 27 | |
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 | 0 | |
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] | 59 | 42 | |
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] | 1,996 | 2,210 | |
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] | 512 | 519 | |
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 | 0 | |
UBS AG | Level 3 | Measured at fair value on a recurring basis | Brokerage payables designated at fair value | ||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | ||||
Financial liabilities, at fair value | [1] | 0 | [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] | 9,649 | 10,957 | |
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] | 1,039 | 1,025 | |
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] | 0 | 0 | |
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] | 791 | 1,023 | |
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] | 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 - Valuation adjustments_ De
FVM - Valuation adjustments: Deferred day-1 P&L (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Deferred Day-1 Profit Or Loss [Line Items] | |||
Reserve balance at the beginning of the year | $ 255 | $ 338 | $ 365 |
Profit / (loss) deferred on new transactions | 171 | 341 | 247 |
(Profit) / loss recognized in the income statement | (278) | (417) | (279) |
Foreign currency translation | (2) | (6) | 6 |
Reserve balance at the end of the year | 146 | 255 | 338 |
UBS AG | |||
Deferred Day-1 Profit Or Loss [Line Items] | |||
Reserve balance at the beginning of the year | 255 | 338 | 365 |
Profit / (loss) deferred on new transactions | 171 | 341 | 247 |
(Profit) / loss recognized in the income statement | (278) | (417) | (279) |
Foreign currency translation | (2) | (6) | 6 |
Reserve balance at the end of the year | $ 146 | $ 255 | $ 338 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Recognized during the year: | |||
Realized gain / (loss) | $ 8 | $ (3) | $ 22 |
Unrealized gain / (loss) | (408) | 519 | (337) |
Total gain / (loss), before tax | (400) | 517 | (315) |
Recognized on the balance sheet as of the end of the year: | |||
Unrealized life-to-date gain / (loss) | (88) | 320 | (200) |
UBS AG | |||
Recognized during the year: | |||
Realized gain / (loss) | 8 | (3) | 22 |
Unrealized gain / (loss) | (408) | 519 | (337) |
Total gain / (loss), before tax | (400) | 517 | (315) |
Recognized on the balance sheet as of the end of the year: | |||
Unrealized life-to-date gain / (loss) | $ (88) | $ 320 | $ (200) |
FVM - Valuation adjustments_ Va
FVM - Valuation adjustments: Valuation adjustments on financial instruments (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Valuation Adjustments On Financial Instruments [Line Items] | |||
Credit valuation adjustments | [1] | $ (48) | $ (90) |
Funding valuation adjustments | (50) | (85) | |
Debit valuation adjustments | 1 | 1 | |
Other valuation adjustments | (566) | (716) | |
of which: liquidity | (300) | (388) | |
of which: model uncertainty | (266) | (327) | |
UBS AG | |||
Valuation Adjustments On Financial Instruments [Line Items] | |||
Credit valuation adjustments | [1] | (48) | (90) |
Funding valuation adjustments | (50) | (85) | |
Debit valuation adjustments | 1 | 1 | |
Other valuation adjustments | (566) | (716) | |
of which: liquidity | (300) | (388) | |
of which: model uncertainty | $ (266) | $ (327) | |
[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, 2019 | Dec. 31, 2018 | ||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [1] | $ 362,448 | $ 341,156 |
Financial liabilities, at fair value | [1] | 291,452 | 283,711 |
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 | 500 | 700 | |
Financial liabilities, at fair value | $ 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] | 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] | 143.00% | 134.00% |
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] | 101.00% | 89.00% |
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 | $ 2,400 | $ 2,700 | |
Financial liabilities, at fair value | $ 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] | 0.00% | 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 | Relative value to market comparable | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Loan price equivalent (% of par) | [2] | 101.00% | 100.00% |
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] | 99.00% | 99.00% |
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] | 2.25% | 3.01% |
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] | 5.30% | 5.13% |
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] | 0.00% | 1.00% |
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] | 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] | 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 | $ 1,500 | ||
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] | 79.00% | 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] | 98.00% | 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] | 88.00% | 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 | [4] | $ 100 | $ 600 |
Financial liabilities, at fair value | [4] | 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 | [4] | 700 | 600 |
Financial liabilities, at fair value | [4] | 100 | 0 |
Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [5] | 9,900 | 11,000 |
Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [5] | 800 | 1,000 |
Derivative financial instruments: Interest rate contracts | Option model | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 300 | 400 | |
Financial liabilities, at fair value | $ 100 | $ 200 | |
Derivative financial instruments: Interest rate contracts | Option model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [2] | 0.15% | 0.50% |
Derivative financial instruments: Interest rate contracts | Option model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [2] | 0.63% | 0.81% |
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | $ 400 | $ 500 | |
Financial liabilities, at fair value | $ 500 | $ 500 | |
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2] | 0.00% | 3.00% |
Credit spread | [2] | 0.01% | 0.04% |
Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Bond price equivalent (% of par) | [2] | 100.00% | 99.00% |
Credit spread | [2] | 7.00% | 5.45% |
Derivative financial instruments: Equity / index contracts | Option model | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | $ 600 | $ 500 | |
Financial liabilities, at fair value | $ 1,300 | $ 1,400 | |
Derivative financial instruments: Equity / index contracts | Option model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Equity dividend yields | [2] | 0.00% | 0.00% |
Volatility of equity stocks, equity and other indices | [2] | 4.00% | 4.00% |
Equity-to-FX correlation | [2] | (45.00%) | (39.00%) |
Equity-to-equity correlation | [2] | (17.00%) | (50.00%) |
Derivative financial instruments: Equity / index contracts | Option model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Equity dividend yields | [2] | 14.00% | 12.00% |
Volatility of equity stocks, equity and other indices | [2] | 105.00% | 93.00% |
Equity-to-FX correlation | [2] | 71.00% | 67.00% |
Equity-to-equity correlation | [2] | 98.00% | 97.00% |
UBS AG | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | [1] | $ 362,322 | $ 340,999 |
Financial liabilities, at fair value | [1] | 291,452 | 283,717 |
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 | 500 | 700 | |
Financial liabilities, at fair value | $ 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] | 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] | 143.00% | 134.00% |
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] | 101.00% | 89.00% |
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 | $ 2,400 | $ 2,700 | |
Financial liabilities, at fair value | $ 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] | 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: 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] | 101.00% | 100.00% |
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] | 99.00% | 99.00% |
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] | 2.25% | 3.01% |
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] | 5.30% | 5.13% |
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] | 0.00% | 1.00% |
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] | 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] | 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 | $ 1,500 | ||
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] | 79.00% | 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] | 98.00% | 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] | 88.00% | 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 | [4] | $ 100 | $ 600 |
Financial liabilities, at fair value | [4] | 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 | [4] | 700 | 600 |
Financial liabilities, at fair value | [4] | 100 | 0 |
UBS AG | Debt issued designated at fair value | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [5] | 9,600 | 11,000 |
UBS AG | Other financial liabilities designated at fair value | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial liabilities, at fair value | [5] | 1,000 | 1,000 |
UBS AG | Derivative financial instruments: Interest rate contracts | Option model | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | 300 | 400 | |
Financial liabilities, at fair value | $ 100 | $ 200 | |
UBS AG | Derivative financial instruments: Interest rate contracts | Option model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [2] | 0.15% | 0.50% |
UBS AG | Derivative financial instruments: Interest rate contracts | Option model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Volatility of interest rates | [2] | 0.63% | 0.81% |
UBS AG | Derivative financial instruments: Credit derivative contracts | Discounted expected cash flows | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | $ 400 | $ 500 | |
Financial liabilities, at fair value | $ 500 | $ 500 | |
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) | [2] | 0.00% | 3.00% |
Credit spread | [2] | 0.01% | 0.04% |
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) | [2] | 100.00% | 99.00% |
Credit spread | [2] | 7.00% | 5.45% |
UBS AG | Derivative financial instruments: Equity / index contracts | Option model | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Financial assets, at fair value | $ 600 | $ 500 | |
Financial liabilities, at fair value | $ 1,300 | $ 1,400 | |
UBS AG | Derivative financial instruments: Equity / index contracts | Option model | low | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Equity dividend yields | [2] | 0.00% | 0.00% |
Volatility of equity stocks, equity and other indices | [2] | 4.00% | 4.00% |
Equity-to-FX correlation | [2] | (45.00%) | (39.00%) |
Equity-to-equity correlation | [2] | (17.00%) | (50.00%) |
UBS AG | Derivative financial instruments: Equity / index contracts | Option model | high | |||
Disclosure Of Fair Value Measurement [Line Items] | |||
Equity dividend yields | [2] | 14.00% | 12.00% |
Volatility of equity stocks, equity and other indices | [2] | 105.00% | 93.00% |
Equity-to-FX correlation | [2] | 71.00% | 67.00% |
Equity-to-equity correlation | [2] | 98.00% | 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] | 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) | ||
[3] | 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. | ||
[4] | The range of inputs is not disclosed as there is a dispersion of values given the diverse nature of the investments. | ||
[5] | 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. |
FVM - Level 3 instruments_ Va_2
FVM - Level 3 instruments: Valuation techniques and inputs (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
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 unobservable 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 co mparison 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 conve rsion 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 measurement date. For credit derivatives, the bond price range represents the range of prices used for reference instruments , which are typically converted to an equivalent yield or credit spread as part of the valuation process. Loan price equivalent Where market 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 issuer-specific covenants. Fair value may be measured either by a direct price comparison or by conversion of an instrument pri ce into a yield. The range represents the range of prices derived from reference issuances of a similar credit quality used in measuring 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 credit derivatives require an input for the credit spread, which is a reflection of the credit quality of the associated refere nced 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) i n 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 ne gative where the asset is more creditworthy than the benchmark against which the spread is calculated. A wider credit spread represents decreasing creditworthiness. The range represents a diverse set of underlyings, with the lower end of the range represen ting credits of the highest quality (e.g., approximating the risk of LIBOR) and the upper end of the range representing greater levels of credit risk. Discount margin (DM) The DM spread represents the discount rates used to present value cash flows of an a sset to reflect the market return required for uncertainty in the estimated cash flows. DM spreads are a rate or rates applied on top of a floating index (e.g., LIBOR) to discount expected cash flows. Generally, a decrease / (increase) in the DM in isolati on would result in a higher / (lower) fair value. The high end of the range relates to securities that are priced low within the market 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 ranges 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 representative of where UBS can fund itself on an unsecured basis, but provide an estimate of where UBS can source and deploy se cured 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 spreads 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 instrumen t, for which future price movements are more likely to occur. The minimum level of volatility is 0% and there is no theoretical maximum. Volatility is a key input into option models, where it is used to derive a probability-based distribution of future pri ces for the underlying instrument. The effect of volatility on individual positions within the portfolio is driven primarily by whether 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 derived from active-market option prices (referred to as implied volatility). A key feature of implied volatility is the volat ility “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 rel ated underlying interest rate levels. Volatilities of low interest rates tend to be much higher than volatilities of high interest rates. In addition, different currencies may have significantly different implied volatilities. The volatility of equity stoc ks, equity and other indices reflects the range of underlying stock volatilities. Correlation Correlation measures the interrelationship 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 movem ent of the other variable in the same direction) and –100% implies that 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 the 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 t han the currency of the underlying stock. Equity-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 fo r 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 payment 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 unobservable 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 co mparison 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 conve rsion 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 measurement date. For credit derivatives, the bond price range represents the range of prices used for reference instruments , which are typically converted to an equivalent yield or credit spread as part of the valuation process. Loan price equivalent Where market 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 issuer-specific covenants. Fair value may be measured either by a direct price comparison or by conversion of an instrument pri ce into a yield. The range represents the range of prices derived from reference issuances of a similar credit quality used in measuring 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 credit derivatives require an input for the credit spread, which is a reflection of the credit quality of the associated refere nced 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) i n 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 ne gative where the asset is more creditworthy than the benchmark against which the spread is calculated. A wider credit spread represents decreasing creditworthiness. The range represents a diverse set of underlyings, with the lower end of the range represen ting credits of the highest quality (e.g., approximating the risk of LIBOR) and the upper end of the range representing greater levels of credit risk. Discount margin (DM) The DM spread represents the discount rates used to present value cash flows of an a sset to reflect the market return required for uncertainty in the estimated cash flows. DM spreads are a rate or rates applied on top of a floating index (e.g., LIBOR) to discount expected cash flows. Generally, a decrease / (increase) in the DM in isolati on would result in a higher / (lower) fair value. The high end of the range relates to securities that are priced low within the market 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 ranges 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 representative of where UBS can fund itself on an unsecured basis, but provide an estimate of where UBS can source and deploy se cured 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 spreads 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 instrumen t, for which future price movements are more likely to occur. The minimum level of volatility is 0% and there is no theoretical maximum. Volatility is a key input into option models, where it is used to derive a probability-based distribution of future pri ces for the underlying instrument. The effect of volatility on individual positions within the portfolio is driven primarily by whether 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 derived from active-market option prices (referred to as implied volatility). A key feature of implied volatility is the volat ility “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 rel ated underlying interest rate levels. Volatilities of low interest rates tend to be much higher than volatilities of high interest rates. In addition, different currencies may have significantly different implied volatilities. The volatility of equity stoc ks, equity and other indices reflects the range of underlying stock volatilities. Correlation Correlation measures the interrelationship 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 movem ent of the other variable in the same direction) and –100% implies that 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 the 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 t han the currency of the underlying stock. Equity-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 fo r 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 payment 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, 2019 | Dec. 31, 2018 | |
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | $ 600 | $ 661 |
Unfavorable changes | (547) | (578) |
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 | 46 | 99 |
Unfavorable changes | (21) | (44) |
Securities financing transactions | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 11 | 17 |
Unfavorable changes | (11) | (11) |
Auction-rate securities | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 87 | 81 |
Unfavorable changes | (87) | 81 |
Asset-backed securities | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 35 | 27 |
Unfavorable changes | (40) | (23) |
Equity instruments | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 140 | 155 |
Unfavorable changes | (80) | (94) |
Interest rate derivative contracts, net | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 8 | 8 |
Unfavorable changes | (17) | (39) |
Credit derivative contracts, net | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 31 | 33 |
Unfavorable changes | (35) | (37) |
Foreign exchange derivative contracts, net | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 12 | 10 |
Unfavorable changes | (8) | (5) |
Equity / index derivative contracts, net | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 183 | 213 |
Unfavorable changes | (197) | (225) |
Other | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 47 | 19 |
Unfavorable changes | (51) | (19) |
UBS AG | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 600 | 661 |
Unfavorable changes | (547) | (578) |
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 | 46 | 99 |
Unfavorable changes | (21) | (44) |
UBS AG | Securities financing transactions | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 11 | 17 |
Unfavorable changes | (11) | (11) |
UBS AG | Auction-rate securities | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 87 | 81 |
Unfavorable changes | (87) | 81 |
UBS AG | Asset-backed securities | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 35 | 27 |
Unfavorable changes | (40) | (23) |
UBS AG | Equity instruments | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 140 | 155 |
Unfavorable changes | (80) | (94) |
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 | 8 |
Unfavorable changes | (17) | (39) |
UBS AG | Credit derivative contracts, net | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 31 | 33 |
Unfavorable changes | (35) | (37) |
UBS AG | Foreign exchange derivative contracts, net | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 12 | 10 |
Unfavorable changes | (8) | (5) |
UBS AG | Equity / index derivative contracts, net | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 183 | 213 |
Unfavorable changes | (197) | (225) |
UBS AG | Other | ||
Sensitivity Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities [Line Items] | ||
Favorable changes | 47 | 19 |
Unfavorable changes | $ (51) | $ (19) |
FVM - Movements of level 3 inst
FVM - Movements of level 3 instruments - Assets (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | $ 341,156 | |||
Transfers into Level 3 | 1,100 | ||||
Transfers out of Level 3 | (1,900) | ||||
Balance at the end of period | [1] | 362,448 | $ 341,156 | ||
Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | 7,800 | |||
Balance at the end of period | [1] | 7,237 | 7,800 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | $ 400 | ||||
Balance at the beginning of the period | 2,000 | [2] | 2,400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (200) | (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 | 1,200 | 2,100 | |||
Sales | (5,700) | (7,100) | |||
Issuances | 4,400 | 4,200 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 600 | 700 | |||
Transfers out of Level 3 | (400) | (200) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 1,800 | 2,000 | ||
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 | ||||
Balance at the beginning of the period | 400 | [2] | 600 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | 200 | |||
Sales | (400) | (300) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 200 | 100 | |||
Transfers out of Level 3 | (200) | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 0 | 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 | ||||
Balance at the beginning of the period | 700 | [2] | 600 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 0 | 0 | ||
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 | 600 | 600 | |||
Sales | (600) | (900) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 500 | |||
Transfers out of Level 3 | (200) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 500 | 700 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 400 | ||||
Balance at the beginning of the period | 700 | [2] | 900 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (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 | 0 | |||
Purchases | 200 | 900 | |||
Sales | (4,400) | (5,600) | |||
Issuances | 4,400 | 4,200 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 800 | 700 | ||
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 | ||||
Balance at the beginning of the period | 200 | [2] | 400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 0 | (100) | ||
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 | 300 | 400 | |||
Sales | (300) | (400) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 200 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 400 | 200 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 3,000 | ||||
Balance at the beginning of the period | 4,400 | [2] | 4,400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 0 | 0 | ||
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 | 1,200 | 1,700 | |||
Sales | (800) | (1,900) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 300 | 100 | |||
Transfers out of Level 3 | (1,200) | (100) | |||
Foreign currency translation | 0 | 100 | |||
Balance at the end of period | [2] | 4,000 | 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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 600 | ||||
Balance at the beginning of the period | 1,800 | [2] | 1,400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | 700 | 1,500 | |||
Sales | (200) | (1,000) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 300 | 100 | |||
Transfers out of Level 3 | (1,200) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 1,200 | 1,800 | ||
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 | 1,900 | ||||
Balance at the beginning of the period | 1,700 | [2] | 1,900 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | (100) | (400) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 100 | |||
Balance at the end of period | [2] | 1,500 | 1,700 | ||
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 | 400 | ||||
Balance at the beginning of the period | 500 | [2] | 400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | 100 | 200 | |||
Sales | (200) | (200) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 500 | 500 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 100 | ||||
Balance at the beginning of the period | 500 | [2] | 800 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 0 | 0 | ||
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 | 500 | 0 | |||
Sales | (200) | (400) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 700 | 500 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | (500) | ||||
Level 3 | Derivative financial instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 1,600 | ||||
Balance at the beginning of the period | 1,400 | [2] | 1,600 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (300) | 0 | ||
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 | 1,000 | 1,000 | |||
Settlements | (800) | (1,500) | |||
Transfers into Level 3 | 200 | 500 | |||
Transfers out of Level 3 | (300) | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 1,300 | 1,400 | ||
Level 3 | Derivative financial instruments | Interest rate contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 100 | ||||
Balance at the beginning of the period | 400 | [2] | 100 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (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 | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 100 | 0 | |||
Settlements | 0 | (100) | |||
Transfers into Level 3 | 0 | 300 | |||
Transfers out of Level 3 | (200) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 300 | 400 | ||
Level 3 | Derivative financial instruments | Credit derivative contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 600 | ||||
Balance at the beginning of the period | 500 | [2] | 600 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (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 | 200 | 300 | |||
Settlements | (200) | (400) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 400 | 500 | ||
Level 3 | Derivative financial instruments | Equity / index contracts | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 700 | ||||
Balance at the beginning of the period | 500 | [2] | 700 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (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 | 600 | 800 | |||
Settlements | (500) | (1,000) | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | (100) | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 600 | 500 | ||
Level 3 | Derivative financial instruments | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 200 | ||||
Balance at the beginning of the period | 0 | [2] | 200 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 0 | 0 | ||
UBS AG | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | 340,999 | |||
Transfers into Level 3 | 1,100 | ||||
Transfers out of Level 3 | (1,900) | ||||
Balance at the end of period | [1] | 362,322 | 340,999 | ||
UBS AG | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance at the beginning of the period | [1] | 7,800 | |||
Balance at the end of period | [1] | 7,237 | 7,800 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 400 | ||||
Balance at the beginning of the period | 2,000 | [2] | 2,400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (200) | (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 | 1,200 | 2,100 | |||
Sales | (5,700) | (7,100) | |||
Issuances | 4,400 | 4,200 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 600 | 700 | |||
Transfers out of Level 3 | (400) | (200) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 1,800 | 2,000 | ||
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 | ||||
Balance at the beginning of the period | 400 | [2] | 600 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | 200 | |||
Sales | (400) | (300) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 200 | 100 | |||
Transfers out of Level 3 | (200) | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 0 | 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 | ||||
Balance at the beginning of the period | 700 | [2] | 600 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 0 | 0 | ||
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 | 600 | 600 | |||
Sales | (600) | (900) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 500 | |||
Transfers out of Level 3 | (200) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 500 | 700 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 400 | ||||
Balance at the beginning of the period | 700 | [2] | 900 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (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 | 0 | |||
Purchases | 200 | 900 | |||
Sales | (4,400) | (5,600) | |||
Issuances | 4,400 | 4,200 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 800 | 700 | ||
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 | ||||
Balance at the beginning of the period | 200 | [2] | 400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 0 | (100) | ||
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 | 300 | 400 | |||
Sales | (300) | (400) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 200 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 400 | 200 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 3,000 | ||||
Balance at the beginning of the period | 4,400 | [2] | 4,400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 0 | 0 | ||
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 | 1,200 | 1,700 | |||
Sales | (800) | (1,900) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 300 | 100 | |||
Transfers out of Level 3 | (1,200) | (100) | |||
Foreign currency translation | 0 | 100 | |||
Balance at the end of period | [2] | 4,000 | 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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 600 | ||||
Balance at the beginning of the period | 1,800 | [2] | 1,400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | 700 | 1,500 | |||
Sales | (200) | (1,000) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 300 | 100 | |||
Transfers out of Level 3 | (1,200) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 1,200 | 1,800 | ||
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 | 1,900 | ||||
Balance at the beginning of the period | 1,700 | [2] | 1,900 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | (100) | (400) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 100 | |||
Balance at the end of period | [2] | 1,500 | 1,700 | ||
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 | 400 | ||||
Balance at the beginning of the period | 500 | [2] | 400 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | 100 | 200 | |||
Sales | (200) | (200) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 500 | 500 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 100 | ||||
Balance at the beginning of the period | 500 | [2] | 800 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 0 | 0 | ||
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 | 500 | 0 | |||
Sales | (200) | (400) | |||
Issuances | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 700 | 500 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | $ (500) | ||||
UBS AG | Level 3 | Derivative financial instruments | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 1,600 | ||||
Balance at the beginning of the period | 1,400 | [2] | 1,600 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (300) | 0 | ||
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 | 1,000 | 1,000 | |||
Settlements | (800) | (1,500) | |||
Transfers into Level 3 | 200 | 500 | |||
Transfers out of Level 3 | (300) | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 1,300 | 1,400 | ||
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 | ||||
Balance at the beginning of the period | 400 | [2] | 100 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (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 | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 100 | 0 | |||
Settlements | 0 | (100) | |||
Transfers into Level 3 | 0 | 300 | |||
Transfers out of Level 3 | (200) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 300 | 400 | ||
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 | ||||
Balance at the beginning of the period | 500 | [2] | 600 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (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 | 200 | 300 | |||
Settlements | (200) | (400) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 400 | 500 | ||
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 | ||||
Balance at the beginning of the period | 500 | [2] | 700 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | (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 | 600 | 800 | |||
Settlements | (500) | (1,000) | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | (100) | (100) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 600 | 500 | ||
UBS AG | Level 3 | Derivative financial instruments | Other | |||||
Disclosure Of Fair Value Measurement Of Assets [Line Items] | |||||
Balance before IFRS 9 adoption | 200 | ||||
Balance at the beginning of the period | 0 | [2] | 200 | ||
Total gains / (losses) included in comprehensive income - Net gains / (losses) included in income | [3] | 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 | 0 | 0 | |||
Settlements | 0 | 0 | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | $ 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] | Total Level 3 assets as of 31 December 2019 were USD 7.2 billion (31 December 2018: USD 7.8 billion). Total Level 3 liabilities as of 31 December 2019 were USD 12.8 billion (31 December 2018: USD 14.3 billion). | ||||
[3] | Net gains / losses included in comprehensive income are comprised of Net interest income, Other net income from financial instruments measured at fair value through profit or loss and Other income |
FVM - Movements of level 3 in_2
FVM - Movements of level 3 instruments - Liabilities (Detail) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period | [1] | $ 283,711 | |||
Transfers into Level 3 | 1,400 | ||||
Transfers out of Level 3 | (3,400) | ||||
Balance at the end of period | [1] | 291,452 | $ 283,711 | ||
Level 3 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period | [1] | 14,260 | |||
Balance at the end of period | [1] | 12,759 | 14,260 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | $ 0 | ||||
Balance at the beginning of the period | 2,200 | [2] | 2,900 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | 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 | (200) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 800 | 1,300 | |||
Settlements | (1,000) | (1,500) | |||
Transfers into Level 3 | 300 | 300 | |||
Transfers out of Level 3 | (300) | (500) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 2,000 | 2,200 | ||
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 | ||||
Balance at the beginning of the period | 1,400 | [2] | 2,000 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | 300 | (300) | ||
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 | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 600 | 1,200 | |||
Settlements | (900) | (1,200) | |||
Transfers into Level 3 | 200 | 300 | |||
Transfers out of Level 3 | (200) | (500) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 1,300 | 1,400 | ||
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 | ||||
Balance at the beginning of the period | 500 | [2] | 600 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | (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 | 200 | 100 | |||
Settlements | (100) | (200) | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 500 | 500 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 0 | ||||
Balance at the beginning of the period | 300 | [2] | 300 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | (100) | 0 | ||
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 | 100 | 0 | |||
Settlements | 0 | (100) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 200 | 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 | ||||
Balance at the beginning of the period | 11,000 | [2] | 11,200 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | 1,100 | 500 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 700 | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 7,200 | 5,800 | |||
Settlements | (7,300) | (4,300) | |||
Transfers into Level 3 | 1,000 | 2,200 | |||
Transfers out of Level 3 | (3,100) | (4,300) | |||
Foreign currency translation | 0 | (200) | |||
Balance at the end of period | [2] | 9,900 | 11,000 | ||
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 | ||||
Balance at the beginning of the period | 1,000 | [2] | 2,000 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | 200 | 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 | 300 | 1,100 | |||
Settlements | (800) | (2,000) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 800 | 1,000 | ||
UBS AG | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period | [1] | 283,717 | |||
Transfers into Level 3 | 1,400 | ||||
Transfers out of Level 3 | (3,400) | ||||
Balance at the end of period | [1] | 291,452 | 283,717 | ||
UBS AG | Level 3 | |||||
Disclosure Of Fair Value Measurement Of Liabilities [Line Items] | |||||
Balance at the beginning of the period | [1] | 14,260 | |||
Balance at the end of period | [1] | 12,759 | 14,260 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | 0 | ||||
Balance at the beginning of the period | 2,200 | [2] | 2,900 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | 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 | (200) | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 800 | 1,300 | |||
Settlements | (1,000) | (1,500) | |||
Transfers into Level 3 | 300 | 300 | |||
Transfers out of Level 3 | (300) | (500) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 2,000 | 2,200 | ||
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 | ||||
Balance at the beginning of the period | 1,400 | [2] | 2,000 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | 300 | (300) | ||
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 | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 600 | 1,200 | |||
Settlements | (900) | (1,200) | |||
Transfers into Level 3 | 200 | 300 | |||
Transfers out of Level 3 | (200) | (500) | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 1,300 | 1,400 | ||
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 | ||||
Balance at the beginning of the period | 500 | [2] | 600 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | (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 | 200 | 100 | |||
Settlements | (100) | (200) | |||
Transfers into Level 3 | 100 | 100 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 500 | 500 | ||
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 | ||||
Reclassifications and remeasurements upon adoption of IFRS 9 | $ 0 | ||||
Balance at the beginning of the period | 300 | [2] | 300 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | (100) | 0 | ||
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 | 100 | 0 | |||
Settlements | 0 | (100) | |||
Transfers into Level 3 | 0 | 0 | |||
Transfers out of Level 3 | (100) | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | 200 | 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 | ||||
Balance at the beginning of the period | 11,000 | [2] | 11,200 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | 1,100 | 500 | ||
Total gains / losses included in comprehensive income - of which: related to Level 3 instruments held at the end of the reporting period | 700 | 0 | |||
Purchases | 0 | 0 | |||
Sales | 0 | 0 | |||
Issuances | 6,900 | 5,800 | |||
Settlements | (7,300) | (4,300) | |||
Transfers into Level 3 | 1,000 | 2,200 | |||
Transfers out of Level 3 | (3,100) | (4,300) | |||
Foreign currency translation | 0 | (200) | |||
Balance at the end of period | [2] | 9,600 | 11,000 | ||
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 | ||||
Balance at the beginning of the period | 1,000 | [2] | 2,000 | ||
Total gains / losses included in comprehensive income - Net gains / losses included in income | [3] | 200 | 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 | 600 | 1,100 | |||
Settlements | (800) | (2,000) | |||
Transfers into Level 3 | 100 | 0 | |||
Transfers out of Level 3 | 0 | 0 | |||
Foreign currency translation | 0 | 0 | |||
Balance at the end of period | [2] | $ 1,000 | $ 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] | Total Level 3 assets as of 31 December 2019 were USD 7.2 billion (31 December 2018: USD 7.8 billion). Total Level 3 liabilities as of 31 December 2019 were USD 12.8 billion (31 December 2018: USD 14.3 billion). | ||||
[3] | Net gains / losses included in comprehensive income are comprised of Net interest income, Other net income from financial instruments measured at fair value through profit or loss and Other income |
FVM - Movements of level 3 in_3
FVM - Movements of level 3 instruments (Narrative) (Detail) $ in Billions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Into Level 3 Of Fair Value Hierarchy Assets | $ 1.1 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | $ 1.9 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Assets | Transfers into Level 3 mainly consisted of loans, investment fund units and equity / index contracts, reflecting decreased observability of the relevant valuation inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | Transfers out of Level 3 mainly consisted of loans, reflecting increased observability of the relevant valuation inputs. |
Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | $ 1.4 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | $ 3.4 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | Transfers into and out of Level 3 mainly consisted of debt issued designated at fair value, primarily equity-linked issued debt instruments, due to decreased or increased observability, respectively, of the embedded derivative inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | Transfers into and out of Level 3 mainly consisted of debt issued designated at fair value, primarily equity-linked issued debt instruments, due to decreased or increased observability, respectively, of the embedded derivative inputs. |
UBS AG | |
Disclosure Of Fair Value Measurement [Line Items] | |
Transfers Into Level 3 Of Fair Value Hierarchy Assets | $ 1.1 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | $ 1.9 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Assets | Transfers into Level 3 mainly consisted of loans, investment fund units and equity / index contracts, reflecting decreased observability of the relevant valuation inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Assets | Transfers out of Level 3 mainly consisted of loans, reflecting increased observability of the relevant valuation inputs. |
Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | $ 1.4 |
Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | $ 3.4 |
Description Of Reasons For Transfers Into Level 3 Of Fair Value Hierarchy Liabilities | Transfers into and out of Level 3 mainly consisted of debt issued designated at fair value, primarily equity-linked issued debt instruments, due to decreased or increased observability, respectively, of the embedded derivative inputs. |
Description Of Reasons For Transfers Out Of Level 3 Of Fair Value Hierarchy Liabilities | Transfers into and out of Level 3 mainly consisted of debt issued designated at fair value, primarily equity-linked issued debt instruments, due to decreased or increased observability, respectively, of the embedded derivative inputs. |
Maximum exposure to credit risk
Maximum exposure to credit risk - assets at fair value (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |||
Total financial assets measured at fair value | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | $ 216,700 | $ 224,800 | |||
Collateral | |||||
Cash collateral received | 100 | 0 | |||
Collateralized by securities | 37,400 | 37,300 | |||
Secured by real estate | 0 | 0 | |||
Other collateral | [1] | 100 | 100 | ||
Credit enhancements | |||||
Netting | 107,400 | 110,800 | |||
Credit derivative contracts | 0 | 0 | |||
Guarantees | 0 | 0 | |||
Exposure to credit risk after collateral and credit enhancements | 71,700 | 76,600 | |||
Financial assets at fair value held for trading - debt instruments | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [2],[3] | 21,900 | 21,900 | ||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | [2],[3] | 21,900 | 21,900 | ||
Derivative financial instruments | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [4] | 121,800 | 126,200 | ||
Collateral | |||||
Collateralized by securities | [4] | 3,300 | 4,100 | ||
Credit enhancements | |||||
Netting | [4] | 107,400 | 110,800 | ||
Exposure to credit risk after collateral and credit enhancements | [4] | 11,100 | 11,400 | ||
Brokerage receivables | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 18,000 | 16,800 | |||
Collateral | |||||
Cash collateral received | 0 | ||||
Collateralized by securities | 17,800 | 16,500 | |||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | 200 | 300 | |||
Financial assets at fair value not held for trading - debt instruments | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [5] | 55,000 | 59,800 | ||
Collateral | |||||
Cash collateral received | 100 | ||||
Collateralized by securities | [5] | 16,300 | 16,700 | ||
Other collateral | 100 | [1],[5] | 100 | ||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | [5] | 38,600 | 43,100 | ||
Total maximum exposure to credit risk not reflected on the balance sheet | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 27,600 | 13,300 | |||
Collateral | |||||
Cash collateral received | 0 | 0 | |||
Collateralized by securities | 20,300 | 8,100 | |||
Secured by real estate | 0 | 0 | |||
Other collateral | [1] | 3,000 | 2,400 | ||
Credit enhancements | |||||
Netting | 0 | 0 | |||
Credit derivative contracts | 100 | 200 | |||
Guarantees | 1,200 | 400 | |||
Exposure to credit risk after collateral and credit enhancements | 3,000 | 2,100 | |||
Guarantees | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 1,000 | [6] | 1,600 | [7] | |
Credit enhancements | |||||
Guarantees | 300 | [6] | 200 | ||
Exposure to credit risk after collateral and credit enhancements | 700 | [6] | 1,400 | [7] | |
Loan commitments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 33,856 | 34,747 | |||
Loan commitments | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [7] | 6,300 | 3,500 | ||
Collateral | |||||
Other collateral | [1],[7] | 3,000 | 2,400 | ||
Credit enhancements | |||||
Credit derivative contracts | [7] | 100 | 200 | ||
Guarantees | [7] | 900 | 100 | ||
Exposure to credit risk after collateral and credit enhancements | [7] | 2,300 | 700 | ||
Forward starting reverse repurchase and securities borrowing agreements | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 20,300 | 8,100 | |||
Collateral | |||||
Collateralized by securities | 20,300 | 8,100 | |||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | 0 | 0 | |||
UBS AG | Total financial assets measured at fair value | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 216,800 | 224,900 | |||
Collateral | |||||
Cash collateral received | 100 | 0 | |||
Collateralized by securities | 37,400 | 37,300 | |||
Secured by real estate | 0 | 0 | |||
Other collateral | [1] | 100 | 100 | ||
Credit enhancements | |||||
Netting | 107,400 | 110,800 | |||
Credit derivative contracts | 0 | 0 | |||
Guarantees | 0 | 0 | |||
Exposure to credit risk after collateral and credit enhancements | 71,900 | 76,700 | |||
UBS AG | Financial assets at fair value held for trading - debt instruments | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [2],[3] | 22,000 | 22,000 | ||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | [2],[3] | 22,000 | 22,000 | ||
UBS AG | Derivative financial instruments | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [4] | 121,800 | 126,200 | ||
Collateral | |||||
Collateralized by securities | [4] | 3,300 | 4,100 | ||
Credit enhancements | |||||
Netting | [4] | 107,400 | 110,800 | ||
Exposure to credit risk after collateral and credit enhancements | [4] | 11,100 | 11,400 | ||
UBS AG | Brokerage receivables | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 18,000 | 16,800 | |||
Collateral | |||||
Cash collateral received | 0 | 0 | |||
Collateralized by securities | 17,800 | 16,500 | |||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | 200 | 300 | |||
UBS AG | Financial assets at fair value not held for trading - debt instruments | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [5] | 55,000 | 59,800 | ||
Collateral | |||||
Collateralized by securities | [5] | 16,300 | 16,700 | ||
Other collateral | 100 | ||||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | [5] | 38,600 | 43,100 | ||
UBS AG | Total maximum exposure to credit risk not reflected on the balance sheet | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 27,600 | 13,300 | |||
Collateral | |||||
Cash collateral received | 0 | 0 | |||
Collateralized by securities | 20,300 | 8,100 | |||
Secured by real estate | 0 | 0 | |||
Other collateral | [1] | 3,000 | 2,400 | ||
Credit enhancements | |||||
Netting | 0 | 0 | |||
Credit derivative contracts | 100 | 200 | |||
Guarantees | 1,200 | 400 | |||
Exposure to credit risk after collateral and credit enhancements | 3,000 | 2,100 | |||
UBS AG | Guarantees | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 1,000 | [6] | 1,600 | [7] | |
Credit enhancements | |||||
Guarantees | 300 | [6] | 200 | ||
Exposure to credit risk after collateral and credit enhancements | 700 | [6] | 1,400 | [7] | |
UBS AG | Loan commitments | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 33,856 | 34,747 | |||
UBS AG | Loan commitments | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | [7] | 6,300 | 3,500 | ||
Collateral | |||||
Other collateral | [1],[7] | 3,000 | 2,400 | ||
Credit enhancements | |||||
Credit derivative contracts | [7] | 100 | 200 | ||
Guarantees | [7] | 900 | 100 | ||
Exposure to credit risk after collateral and credit enhancements | [7] | 2,300 | 700 | ||
UBS AG | Forward starting reverse repurchase and securities borrowing agreements | Financial Assets At Fair Value [Member] | |||||
Maximum Exposure To Credit Risk [Line Items] | |||||
Maximum Exposure To Credit Risk | 20,300 | 100 | |||
Collateral | |||||
Collateralized by securities | 20,300 | 8,100 | |||
Credit enhancements | |||||
Exposure to credit risk after collateral and credit enhancements | $ 0 | $ 0 | |||
[1] | Includes but is not limited to life insurance contracts, inventory, mortgage loans, gold and other commodities | ||||
[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] | Financial assets at fair value not held for trading collateralized by securities consisted of structured loans and reverse repurchase and securities borrowing agreements. | ||||
[6] | The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. | ||||
[7] | The amount shown in the “Guarantees” column largely relates to sub-participations. Refer to Note 34 for more information. |
FVM - Financial instruments not
FVM - Financial instruments not measured at fair value - Assets (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | ||
Carrying amount | ||||
Cash and balances at central banks | $ 107,068 | $ 108,370 | ||
Loans and advances to banks | 12,447 | 16,868 | ||
Receivables from securities financing transactions | 84,245 | 95,349 | ||
Cash collateral receivables on derivative instruments | 23,289 | 23,602 | ||
Loans and advances to customers | 326,786 | 320,352 | ||
Other financial assets measured at amortized cost | 22,980 | 22,563 | ||
Fair Value | ||||
Financial assets, at fair value | [1] | 362,448 | 341,156 | |
Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [1] | 161,101 | 136,026 | |
Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [1] | 194,110 | 197,331 | |
Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [1] | 7,237 | 7,800 | |
Not measured at fair value | ||||
Carrying amount | ||||
Cash and balances at central banks | [2] | 107,100 | [3] | 108,400 |
Loans and advances to banks | [2] | 12,400 | [3] | 16,900 |
Receivables from securities financing transactions | [2] | 84,200 | [3] | 95,300 |
Cash collateral receivables on derivative instruments | [2] | 23,300 | [3] | 23,600 |
Loans and advances to customers | [2] | 326,800 | [3] | 320,400 |
Other financial assets measured at amortized cost | [2] | 23,000 | [3] | 22,600 |
Not measured at fair value | Cash and balances at central banks | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 107,100 | 108,400 | |
Not measured at fair value | Cash and balances at central banks | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3],[4] | 107,000 | 108,300 | |
Not measured at fair value | Cash and balances at central banks | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 100 | 100 | |
Not measured at fair value | Cash and balances at central banks | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 0 | 0 | |
Not measured at fair value | Cash and balances at central banks | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 0 | 0 | |
Not measured at fair value | Loans and advances to banks | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 12,400 | 16,900 | |
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 0 | 0 | ||
Not measured at fair value | Loans and advances to banks | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3],[4] | 11,800 | 16,200 | |
Not measured at fair value | Loans and advances to banks | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 0 | 0 | |
Not measured at fair value | Loans and advances to banks | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 500 | 600 | |
Not measured at fair value | Loans and advances to banks | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 200 | 0 | |
Not measured at fair value | Receivables from securities financing transactions | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 84,200 | 95,400 | |
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 1,000 | 1,000 | ||
Not measured at fair value | Receivables from securities financing transactions | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3],[4] | 74,000 | 85,000 | |
Not measured at fair value | Receivables from securities financing transactions | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 0 | 0 | |
Not measured at fair value | Receivables from securities financing transactions | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 8,600 | 6,900 | |
Not measured at fair value | Receivables from securities financing transactions | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 1,600 | 3,400 | |
Not measured at fair value | Cash collateral receivables on derivative instruments | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 23,300 | 23,600 | |
Not measured at fair value | Cash collateral receivables on derivative instruments | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3],[4] | 23,300 | 23,600 | |
Not measured at fair value | Cash collateral receivables on derivative instruments | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 0 | 0 | |
Not measured at fair value | Cash collateral receivables on derivative instruments | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 0 | 0 | |
Not measured at fair value | Cash collateral receivables on derivative instruments | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 0 | 0 | |
Not measured at fair value | Loans and advances to customers | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 329,100 | 320,900 | |
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 140,000 | 139,000 | ||
Not measured at fair value | Loans and advances to customers | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3],[4] | 151,600 | 153,400 | |
Not measured at fair value | Loans and advances to customers | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 0 | 0 | |
Not measured at fair value | Loans and advances to customers | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 25,400 | 18,000 | |
Not measured at fair value | Loans and advances to customers | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 152,200 | 149,500 | |
Not measured at fair value | Other financial assets measured at amortized cost | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 23,200 | 22,400 | |
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 16,000 | 15,000 | ||
Not measured at fair value | Other financial assets measured at amortized cost | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3],[4] | 5,700 | 5,900 | |
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 | 8,400 | |
Not measured at fair value | Other financial assets measured at amortized cost | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 6,400 | 5,200 | |
Not measured at fair value | Other financial assets measured at amortized cost | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [2],[3] | 2,800 | 2,900 | |
UBS AG | ||||
Carrying amount | ||||
Cash and balances at central banks | 107,068 | 108,370 | ||
Loans and advances to banks | 12,379 | 16,642 | ||
Receivables from securities financing transactions | 84,245 | 95,349 | ||
Cash collateral receivables on derivative instruments | 23,289 | 23,603 | ||
Loans and advances to customers | 327,992 | 321,482 | ||
Other financial assets measured at amortized cost | 23,012 | 22,637 | ||
Fair Value | ||||
Financial assets, at fair value | [1] | 362,322 | 340,999 | |
UBS AG | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [1] | 161,102 | 136,029 | |
UBS AG | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [1] | 193,983 | 197,170 | |
UBS AG | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [1] | 7,237 | 7,800 | |
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 | 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 amount | ||||
Cash and balances at central banks | [5] | 107,100 | 108,400 | |
Loans and advances to banks | [5] | 12,400 | 16,600 | |
Receivables from securities financing transactions | [5] | 84,200 | 95,300 | |
Cash collateral receivables on derivative instruments | [5] | 23,300 | 23,600 | |
Loans and advances to customers | [5] | 328,000 | 321,500 | |
Other financial assets measured at amortized cost | [5] | 23,000 | 22,600 | |
UBS AG | Not measured at fair value | Cash and balances at central banks | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 107,100 | 108,400 | |
UBS AG | Not measured at fair value | Cash and balances at central banks | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[4],[5] | 107,000 | 108,300 | |
UBS AG | Not measured at fair value | Cash and balances at central banks | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 100 | 100 | |
UBS AG | Not measured at fair value | Cash and balances at central banks | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 0 | 0 | |
UBS AG | Not measured at fair value | Cash and balances at central banks | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 0 | 0 | |
UBS AG | Not measured at fair value | Loans and advances to banks | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 12,400 | 16,600 | |
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 0 | 0 | ||
UBS AG | Not measured at fair value | Loans and advances to banks | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[4],[5] | 11,700 | 16,000 | |
UBS AG | Not measured at fair value | Loans and advances to banks | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 0 | 0 | |
UBS AG | Not measured at fair value | Loans and advances to banks | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 500 | 600 | |
UBS AG | Not measured at fair value | Loans and advances to banks | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 200 | 0 | |
UBS AG | Not measured at fair value | Receivables from securities financing transactions | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 84,200 | 95,400 | |
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 1,000 | 1,000 | ||
UBS AG | Not measured at fair value | Receivables from securities financing transactions | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[4],[5] | 74,000 | 85,000 | |
UBS AG | Not measured at fair value | Receivables from securities financing transactions | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 0 | 0 | |
UBS AG | Not measured at fair value | Receivables from securities financing transactions | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 8,600 | 6,900 | |
UBS AG | Not measured at fair value | Receivables from securities financing transactions | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 1,600 | 3,400 | |
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 23,300 | 23,600 | |
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[4],[5] | 23,300 | 23,600 | |
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 0 | 0 | |
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 0 | 0 | |
UBS AG | Not measured at fair value | Cash collateral receivables on derivative instruments | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 0 | 0 | |
UBS AG | Not measured at fair value | Loans and advances to customers | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 330,300 | 322,000 | |
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 140,000 | 139,000 | ||
UBS AG | Not measured at fair value | Loans and advances to customers | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[4],[5] | 152,500 | 153,800 | |
UBS AG | Not measured at fair value | Loans and advances to customers | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 0 | 0 | |
UBS AG | Not measured at fair value | Loans and advances to customers | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 25,700 | 18,600 | |
UBS AG | Not measured at fair value | Loans and advances to customers | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 152,200 | 149,500 | |
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 23,300 | 22,500 | |
Financial assets not measured at fair value expected to be recovered or settled after 12 months | 16,000 | 15,000 | ||
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | Carrying amount approximates fair value | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[4],[5] | 5,800 | 5,900 | |
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | Level 1 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 8,400 | 8,400 | |
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | Level 2 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | 6,400 | 4,800 | |
UBS AG | Not measured at fair value | Other financial assets measured at amortized cost | Level 3 | ||||
Fair Value | ||||
Financial assets, at fair value | [3],[5] | $ 2,800 | $ 3,300 | |
[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 2019, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 140 billion of Loans and advances to customers and USD 16 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. 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 were expected to be recovered or settled after 12 months. | |||
[3] | In line with IFRS 7 Financial Instruments: Disclosures, effective 2019, UBS no longer discloses a fair value hierarchy level for financial instruments where the carrying amount approximates fair value. Prior periods have been restated for this change | |||
[4] | Includes certain financial instruments where the carrying amount is a reasonable approximation of the fair value due to the instruments’ short-term nature (instruments that are receivable or payable on demand, or with a remaining maturity (excluding the effects of callable features) of three months or less). | |||
[5] | As of 31 December 2019, USD 0 billion of Loans and advances to banks, USD 1 billion of Receivables from securities financing transactions, USD 140 billion of Loans and advances to customers and USD 16 billion of Other financial assets measured at amortized cost are expected to be recovered or settled after 12 months. 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 were expected to be recovered or settled after 12 months. |
FVM - Financial instruments n_2
FVM - Financial instruments not measured at fair value - Liabilities (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Carrying amount | |||
Amounts due to banks | $ 6,570 | $ 10,962 | |
Payables from securities financing transactions | 7,778 | 10,296 | |
Cash collateral payables on derivative instruments | 31,415 | 28,906 | |
Customer deposits | 448,284 | 419,838 | |
Debt issued measured at amortized cost | [1] | 110,497 | 132,271 |
Other financial liabilities measured at amortized cost | 9,712 | 6,885 | |
Fair Value | |||
Financial liabilities, at fair value | [2] | 291,452 | 283,711 |
Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [2] | 26,176 | 24,986 |
Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [2] | 252,518 | 244,465 |
Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [2] | 12,759 | 14,260 |
Not measured at fair value | |||
Carrying amount | |||
Amounts due to banks | 6,600 | 11,000 | |
Payables from securities financing transactions | 7,800 | 10,300 | |
Cash collateral payables on derivative instruments | 31,400 | 28,900 | |
Customer deposits | 448,300 | 419,800 | |
Debt issued measured at amortized cost | 110,500 | 132,300 | |
Other financial liabilities measured at amortized cost | [3] | 5,800 | 6,900 |
Not measured at fair value | Amount due to banks | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 6,600 | 11,000 |
Not measured at fair value | Amount due to banks | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 5,600 | 8,800 |
Not measured at fair value | Amount due to banks | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
Not measured at fair value | Amount due to banks | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 900 | 1,900 |
Not measured at fair value | Amount due to banks | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 200 |
Not measured at fair value | Payables from securities financing transactions | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 7,800 | 10,300 |
Not measured at fair value | Payables from securities financing transactions | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 7,500 | 10,000 |
Not measured at fair value | Payables from securities financing transactions | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
Not measured at fair value | Payables from securities financing transactions | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 300 | 300 |
Not measured at fair value | Payables from securities financing transactions | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
Not measured at fair value | Cash collateral payables on derivative instruments | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 31,400 | 28,900 |
Not measured at fair value | Cash collateral payables on derivative instruments | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 31,400 | 28,900 |
Not measured at fair value | Cash collateral payables on derivative instruments | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
Not measured at fair value | Cash collateral payables on derivative instruments | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
Not measured at fair value | Cash collateral payables on derivative instruments | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
Not measured at fair value | Customer deposits | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 448,400 | 419,900 |
Not measured at fair value | Customer deposits | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 439,100 | 409,500 |
Not measured at fair value | Customer deposits | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
Not measured at fair value | Customer deposits | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 9,300 | 10,300 |
Not measured at fair value | Customer deposits | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 100 |
Not measured at fair value | Debt issued measured at amortized cost | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 113,600 | 135,000 |
Not measured at fair value | Debt issued measured at amortized cost | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 8,700 | 2,800 |
Not measured at fair value | Debt issued measured at amortized cost | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
Not measured at fair value | Debt issued measured at amortized cost | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 104,900 | 130,700 |
Not measured at fair value | Debt issued measured at amortized cost | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 1,400 |
Not measured at fair value | Other financial liabilities measured at amortized cost | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4] | 5,700 | 6,900 |
Not measured at fair value | Other financial liabilities measured at amortized cost | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4],[5] | 5,700 | 6,800 |
Not measured at fair value | Other financial liabilities measured at amortized cost | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4] | 0 | 0 |
Not measured at fair value | Other financial liabilities measured at amortized cost | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4] | 0 | 0 |
Not measured at fair value | Other financial liabilities measured at amortized cost | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4] | 0 | 100 |
UBS AG | |||
Carrying amount | |||
Amounts due to banks | 6,570 | 10,962 | |
Payables from securities financing transactions | 7,778 | 10,296 | |
Cash collateral payables on derivative instruments | 31,416 | 28,906 | |
Customer deposits | 450,591 | 421,986 | |
Funding from UBS Group AG and its subsidiaries | [6],[7],[8] | 47,866 | 41,202 |
Debt issued measured at amortized cost | [1] | 62,835 | 91,245 |
Other financial liabilities measured at amortized cost | 10,373 | 7,576 | |
Fair Value | |||
Financial liabilities, at fair value | [2] | 291,452 | 283,717 |
UBS AG | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [2] | 26,176 | 24,992 |
UBS AG | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [2] | 252,518 | 244,465 |
UBS AG | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [2] | 12,759 | 14,260 |
UBS AG | Not measured at fair value | |||
Carrying amount | |||
Amounts due to banks | 6,600 | 11,000 | |
Payables from securities financing transactions | 7,800 | 10,300 | |
Cash collateral payables on derivative instruments | 31,400 | 28,900 | |
Customer deposits | 450,600 | 422,000 | |
Funding from UBS Group AG and its subsidiaries | 47,900 | 41,200 | |
Debt issued measured at amortized cost | 62,800 | 91,200 | |
Other financial liabilities measured at amortized cost | [3] | 6,500 | 7,600 |
UBS AG | Not measured at fair value | Amount due to banks | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 6,600 | 11,000 |
UBS AG | Not measured at fair value | Amount due to banks | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 5,600 | 8,800 |
UBS AG | Not measured at fair value | Amount due to banks | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Amount due to banks | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 900 | 1,900 |
UBS AG | Not measured at fair value | Amount due to banks | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 200 |
UBS AG | Not measured at fair value | Payables from securities financing transactions | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 7,800 | 10,300 |
UBS AG | Not measured at fair value | Payables from securities financing transactions | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 7,500 | 10,000 |
UBS AG | Not measured at fair value | Payables from securities financing transactions | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Payables from securities financing transactions | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 300 | 300 |
UBS AG | Not measured at fair value | Payables from securities financing transactions | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 31,400 | 28,900 |
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 31,400 | 28,900 |
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Cash collateral payables on derivative instruments | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Customer deposits | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 450,700 | 422,000 |
UBS AG | Not measured at fair value | Customer deposits | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 440,500 | 410,600 |
UBS AG | Not measured at fair value | Customer deposits | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Customer deposits | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 10,200 | 11,300 |
UBS AG | Not measured at fair value | Customer deposits | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 100 |
UBS AG | Not measured at fair value | Funding from UBS Group AG and its subsidiaries | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 49,600 | 41,700 |
UBS AG | Not measured at fair value | Funding from UBS Group AG and its subsidiaries | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 0 | 0 |
UBS AG | Not measured at fair value | Funding from UBS Group AG and its subsidiaries | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 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 | [4] | 49,600 | 41,700 |
UBS AG | Not measured at fair value | Funding from UBS Group AG and its subsidiaries | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 64,300 | 93,500 |
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [4],[5] | 8,700 | 9,900 |
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 0 |
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | Level 2 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 55,500 | 82,100 |
UBS AG | Not measured at fair value | Debt issued measured at amortized cost | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [4] | 0 | 1,400 |
UBS AG | Not measured at fair value | Other financial liabilities measured at amortized cost | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4] | 6,500 | 7,600 |
UBS AG | Not measured at fair value | Other financial liabilities measured at amortized cost | Carrying amount approximates fair value | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4],[5] | 6,500 | 7,600 |
UBS AG | Not measured at fair value | Other financial liabilities measured at amortized cost | Level 1 | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4] | 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],[4] | 0 | 0 |
UBS AG | Not measured at fair value | Other financial liabilities measured at amortized cost | Level 3 | |||
Fair Value | |||
Financial liabilities, at fair value | [3],[4] | $ 0 | $ 100 |
[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] | Excludes lease liabilities. | ||
[4] | In line with IFRS 7 Financial Instruments: Disclosures, effective 2019, UBS no longer discloses a fair value hierarchy level for financial instruments where the carrying amount approximates fair value. Prior periods have been restated for this change | ||
[5] | Includes certain financial instruments where the carrying amount is a reasonable approximation of the fair value due to the instruments’ short-term nature (instruments that are receivable or payable on demand, or with a remaining maturity (excluding the effects of callable features) of three months or less). | ||
[6] | All balances in 2019 are against UBS Group AG as counterparty. Prior year balances were against UBS Group Funding (Switzerland) AG as counterparty | ||
[7] | Represents funding from UBS Group AG to UBS AG. | ||
[8] | UBS AG has also recognized funding from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
Offsetting financial assets (De
Offsetting financial assets (Detail) - USD ($) $ in Billions | Dec. 31, 2019 | Dec. 31, 2018 | |
Netting recognized on the balance sheet | |||
Gross assets before netting | $ 313 | $ 322.9 | |
Netting with gross liabilities | [1] | (98.9) | (97.2) |
Net assets recognized on the balance sheet | 214 | 225.7 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (103.8) | (110) |
Collateral received | [2] | (96.1) | (102.6) |
Assets after consideration of netting potential | [2] | 14.1 | 13 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 99.3 | 102.2 |
Total assets | |||
Total assets, after consideration of further netting potential | 113.4 | 115.2 | |
Total assets recognized on the balance sheet | 313.3 | 327.9 | |
Receivables from securities financing transactions | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 83.2 | 88.5 | |
Netting with gross liabilities | [1] | (14) | (13) |
Net assets recognized on the balance sheet | 69.2 | 75.5 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (1.2) | (4.4) |
Collateral received | [2] | (68) | (71.2) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 15 | 19.8 |
Total assets | |||
Total assets, after consideration of further netting potential | 15 | 19.8 | |
Total assets recognized on the balance sheet | 84.2 | 95.3 | |
Derivative financial instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 120.2 | 124.3 | |
Netting with gross liabilities | [1] | (3.4) | (4.3) |
Net assets recognized on the balance sheet | 116.8 | 120 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (89.3) | (90.8) |
Collateral received | [2] | (21.4) | (24) |
Assets after consideration of netting potential | [2] | 6.1 | 5.2 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 5 | 6.2 |
Total assets | |||
Total assets, after consideration of further netting potential | 11.1 | 11.4 | |
Total assets recognized on the balance sheet | 121.8 | 126.2 | |
Cash collateral receivables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [4] | 26.4 | 24.6 |
Netting with gross liabilities | [1],[4] | (4) | (2.3) |
Net assets recognized on the balance sheet | [4] | 22.4 | 22.3 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[4] | (13.3) | (13.5) |
Collateral received | [2],[4] | (1.1) | (1) |
Assets after consideration of netting potential | [2],[4] | 8 | 7.8 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[4] | 0.9 | 1.3 |
Total assets | |||
Total assets, after consideration of further netting potential | [4] | 8.9 | 9.1 |
Total assets recognized on the balance sheet | [4] | 23.3 | 23.6 |
Financial assets at fair value not held for trading | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 83.1 | 85.4 | |
Netting with gross liabilities | [1] | (77.5) | (77.5) |
Net assets recognized on the balance sheet | 5.6 | 7.8 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | 0 | (1.4) |
Collateral received | [2] | (5.6) | (6.4) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 78.3 | 74.9 |
Total assets | |||
Total assets, after consideration of further netting potential | 78.3 | 74.9 | |
Total assets recognized on the balance sheet | 83.9 | 82.7 | |
of which: reverse repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 83 | 85.3 | |
Netting with gross liabilities | [1] | (77.5) | (77.5) |
Net assets recognized on the balance sheet | 5.4 | 7.8 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | 0 | (1.4) |
Collateral received | [2] | (5.4) | (6.4) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 0.9 | 2.1 |
Total assets | |||
Total assets, after consideration of further netting potential | 0.9 | 2.1 | |
Total assets recognized on the balance sheet | 6.3 | 9.9 | |
UBS AG | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 313 | 322.9 | |
Netting with gross liabilities | [1] | (98.9) | (97.2) |
Net assets recognized on the balance sheet | 214 | 225.7 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (103.8) | (110) |
Collateral received | [2] | (96.1) | (102.6) |
Assets after consideration of netting potential | [2] | 14.1 | 13 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 99 | 101.9 |
Total assets | |||
Total assets, after consideration of further netting potential | 113.1 | 114.9 | |
Total assets recognized on the balance sheet | 313 | 327.6 | |
UBS AG | Receivables from securities financing transactions | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 83.2 | 88.5 | |
Netting with gross liabilities | [1] | (14) | (13) |
Net assets recognized on the balance sheet | 69.2 | 75.5 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (1.2) | (4.4) |
Collateral received | [2] | (68) | (71.2) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 15 | 19.8 |
Total assets | |||
Total assets, after consideration of further netting potential | 15 | 19.8 | |
Total assets recognized on the balance sheet | 84.2 | 95.3 | |
UBS AG | Derivative financial instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 120.2 | 124.3 | |
Netting with gross liabilities | [1] | (3.4) | (4.3) |
Net assets recognized on the balance sheet | 116.8 | 120 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | (89.3) | (90.8) |
Collateral received | [2] | (21.4) | (24) |
Assets after consideration of netting potential | [2] | 6.1 | 5.2 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 5 | 6.2 |
Total assets | |||
Total assets, after consideration of further netting potential | 11.1 | 11.4 | |
Total assets recognized on the balance sheet | 121.8 | 126.2 | |
UBS AG | Cash collateral receivables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | [4] | 26.4 | 24.6 |
Netting with gross liabilities | [1],[4] | (4) | (2.3) |
Net assets recognized on the balance sheet | [4] | 22.4 | 22.3 |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2],[4] | (13.3) | (13.5) |
Collateral received | [2],[4] | (1.1) | (1) |
Assets after consideration of netting potential | [2],[4] | 8 | 7.8 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3],[4] | 0.9 | 1.3 |
Total assets | |||
Total assets, after consideration of further netting potential | [4] | 8.9 | 9.1 |
Total assets recognized on the balance sheet | [4] | 23.3 | 23.6 |
UBS AG | Financial assets at fair value not held for trading | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 83.1 | 85.4 | |
Netting with gross liabilities | [1] | (77.5) | (77.5) |
Net assets recognized on the balance sheet | 5.6 | 7.8 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | 0 | (1.4) |
Collateral received | [2] | (5.6) | (6.4) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 78 | 74.6 |
Total assets | |||
Total assets, after consideration of further netting potential | 78 | 74.6 | |
Total assets recognized on the balance sheet | 83.6 | 82.4 | |
UBS AG | of which: reverse repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross assets before netting | 83 | 85.3 | |
Netting with gross liabilities | [1] | (77.5) | (77.5) |
Net assets recognized on the balance sheet | 5.4 | 7.8 | |
Netting potential not recognized on the balance sheet | |||
Financial liabilities | [2] | 0 | (1.4) |
Collateral received | [2] | (5.4) | (6.4) |
Assets after consideration of netting potential | [2] | 0 | 0 |
Assets not subject to netting arrangements | |||
Assets recognized on the balance sheet | [3] | 0.9 | 2.1 |
Total assets | |||
Total assets, after consideration of further netting potential | 0.9 | 2.1 | |
Total assets recognized on the balance sheet | $ 6.3 | $ 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 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] | 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, 2019 | Dec. 31, 2018 | |
Netting recognized on the balance sheet | |||
Gross liabilities before netting | $ 255.6 | $ 260.4 | |
Netting with gross assets | [1] | (98.9) | (97.2) |
Net liabilities recognized on the balance sheet | 156.6 | 163.2 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (107) | (110.7) |
Collateral pledged | [2] | (29) | (32.6) |
Liabilities after consideration of netting potential | [2] | 20.6 | 19.8 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 39.4 | 35.4 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 60 | 55.2 | |
Total liabilities recognized on the balance sheet | 196 | 198.5 | |
Payables from securities financing transactions | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 19.8 | 20.6 | |
Netting with gross assets | [1] | (14) | (12.4) |
Net liabilities recognized on the balance sheet | 5.8 | 8.3 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (0.8) | (3.6) |
Collateral pledged | [2] | (5) | (4.7) |
Liabilities after consideration of netting potential | [2] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 2 | 2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 2 | 2 | |
Total liabilities recognized on the balance sheet | 7.8 | 10.3 | |
Derivative financial instruments - liabilities | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 118.1 | 124.1 | |
Netting with gross assets | [1] | (3.4) | (4.3) |
Net liabilities recognized on the balance sheet | 114.8 | 119.8 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (89.3) | (90.8) |
Collateral pledged | [2] | (16.8) | (20.9) |
Liabilities after consideration of netting potential | [2] | 8.6 | 8.1 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 6.1 | 5.9 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 14.8 | 14 | |
Total liabilities recognized on the balance sheet | 120.9 | 125.7 | |
Cash collateral payables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [4] | 34.2 | 29 |
Netting with gross assets | [1],[4] | (4) | (2.3) |
Net liabilities recognized on the balance sheet | [4] | 30.1 | 26.7 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2],[4] | (16.5) | (14.2) |
Collateral pledged | [2],[4] | (1.7) | (1.2) |
Liabilities after consideration of netting potential | [2],[4] | 12 | 11.3 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3],[4] | 1.3 | 2.2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [4] | 13.3 | 13.5 |
Total liabilities recognized on the balance sheet | [4] | 31.4 | 28.9 |
Other financial liabilities designated at fair value | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 83.5 | 86.6 | |
Netting with gross assets | [1] | (77.6) | (78.2) |
Net liabilities recognized on the balance sheet | 5.9 | 8.4 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (0.4) | (2.1) |
Collateral pledged | [2] | (5.6) | (5.9) |
Liabilities after consideration of netting potential | [2] | 0 | 0.4 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 30 | 25.2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 30 | 25.6 | |
Total liabilities recognized on the balance sheet | 35.9 | 33.6 | |
of which: repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 83.1 | 86.1 | |
Netting with gross assets | [1] | (77.6) | (78.2) |
Net liabilities recognized on the balance sheet | 5.5 | 7.9 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [2] | (0.4) | (2.1) |
Collateral pledged | [2] | (5.2) | (5.9) |
Liabilities after consideration of netting potential | [2] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [3] | 0.2 | 1.6 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 0.2 | 1.6 | |
Total liabilities recognized on the balance sheet | 5.7 | 9.5 | |
UBS AG | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 255.6 | 260.4 | |
Netting with gross assets | [5] | (98.9) | (97.2) |
Net liabilities recognized on the balance sheet | 156.6 | 163.2 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [6] | (107) | (110.7) |
Collateral pledged | [6] | (29) | (32.6) |
Liabilities after consideration of netting potential | [6] | 20.6 | 19.8 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [7] | 39.6 | 35.4 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 60.2 | 55.2 | |
Total liabilities recognized on the balance sheet | 196.2 | 198.5 | |
UBS AG | Payables from securities financing transactions | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 19.8 | 20.6 | |
Netting with gross assets | [5] | (14) | (12.4) |
Net liabilities recognized on the balance sheet | 5.8 | 8.3 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [6] | (0.8) | (3.6) |
Collateral pledged | [6] | (5) | (4.7) |
Liabilities after consideration of netting potential | [6] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [7] | 2 | 2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 2 | 2 | |
Total liabilities recognized on the balance sheet | 7.8 | 10.3 | |
UBS AG | Derivative financial instruments - liabilities | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 118.1 | 124.1 | |
Netting with gross assets | [5] | (3.4) | (4.3) |
Net liabilities recognized on the balance sheet | 114.8 | 119.8 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [6] | (89.3) | (90.8) |
Collateral pledged | [6] | (16.8) | (20.9) |
Liabilities after consideration of netting potential | [6] | 8.6 | 8.1 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [7] | 6.1 | 5.9 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 14.8 | 14 | |
Total liabilities recognized on the balance sheet | 120.9 | 125.7 | |
UBS AG | Cash collateral payables on derivative instruments | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | [8] | 34.2 | 29 |
Netting with gross assets | [5],[8] | (4) | (2.3) |
Net liabilities recognized on the balance sheet | [8] | 30.1 | 26.7 |
Netting potential not recognized on the balance sheet | |||
Financial assets | [6],[8] | (16.5) | (14.2) |
Collateral pledged | [6],[8] | (1.7) | (1.2) |
Liabilities after consideration of netting potential | [6],[8] | 12 | 11.3 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [7],[8] | 1.3 | 2.2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | [8] | 13.3 | 13.5 |
Total liabilities recognized on the balance sheet | [8] | 31.4 | 28.9 |
UBS AG | Other financial liabilities designated at fair value | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 83.5 | 86.6 | |
Netting with gross assets | [5] | (77.6) | (78.2) |
Net liabilities recognized on the balance sheet | 5.9 | 8.4 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [6] | (0.4) | (2.1) |
Collateral pledged | [6] | (5.6) | (5.9) |
Liabilities after consideration of netting potential | [6] | 0 | 0.4 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [7] | 30.2 | 25.2 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 30.2 | 25.6 | |
Total liabilities recognized on the balance sheet | 36.2 | 33.6 | |
UBS AG | of which: repurchase agreements | |||
Netting recognized on the balance sheet | |||
Gross liabilities before netting | 83.1 | 86.1 | |
Netting with gross assets | [5] | (77.6) | (78.2) |
Net liabilities recognized on the balance sheet | 5.5 | 7.9 | |
Netting potential not recognized on the balance sheet | |||
Financial assets | [6] | (0.4) | (2.1) |
Collateral pledged | [6] | (5.2) | (5.9) |
Liabilities after consideration of netting potential | [6] | 0 | 0 |
Liabilities not subject to netting arrangements | |||
Liabilities recognized on the balance sheet | [7] | 0.2 | 1.6 |
Total liabilities | |||
Total liabilities after consideration of netting potential | 0.2 | 1.6 | |
Total liabilities recognized on the balance sheet | $ 5.7 | $ 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 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] | 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 | ||
[5] | 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. | ||
[6] | For the purpose of this disclosure, the amounts of financial instruments and cash collateral presented have been capped 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. | ||
[7] | Includes liabilities not subject to enforceable netting arrangements and other out-of-scope items. | ||
[8] | 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 | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial assets pledged as collateral | |||
Financial assets at fair value held for trading | $ 56,415 | $ 43,292 | |
of which: assets pledged as collateral which may be sold or repledged by counterparties | 41,285 | 32,121 | |
Loans and advances to customers | [1] | 18,399 | 18,804 |
Financial assets at fair value not held for trading | 188 | 0 | |
Debt securities classified as Other financial assets measured at amortized cost | 1,212 | 0 | |
of which: assets pledged as collateral that may be sold or repledged by counterparties | 1,212 | 0 | |
Total financial assets pledged as collateral | [2] | 76,215 | 62,096 |
Other restricted financial assets | |||
Loans and advances to banks | 3,131 | 5,140 | |
Financial assets at fair value held for trading | 242 | 3,589 | |
Cash collateral receivables on derivative instruments | 2,986 | 3,205 | |
Loans and advances to customers | 620 | 935 | |
Financial assets at fair value not held for trading | 29,676 | 23,514 | |
Financial assets measured at fair value through other comprehensive income | 176 | 171 | |
Other | 379 | 203 | |
Total other restricted financial assets | 37,210 | 36,758 | |
Total financial assets pledged and other restricted financial assets | 113,425 | 98,854 | |
Pledged mortgage loans that could be withdrawn or used | 6,300 | 3,200 | |
Assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes | 600 | 300 | |
UBS AG | |||
Financial assets pledged as collateral | |||
Financial assets at fair value held for trading | 56,548 | 43,292 | |
of which: assets pledged as collateral which may be sold or repledged by counterparties | 41,285 | 32,121 | |
Loans and advances to customers | [3] | 18,399 | 18,804 |
Financial assets at fair value not held for trading | 188 | 0 | |
Debt securities classified as Other financial assets measured at amortized cost | 1,212 | 0 | |
of which: assets pledged as collateral that may be sold or repledged by counterparties | 1,212 | 0 | |
Total financial assets pledged as collateral | [4] | 76,347 | 62,096 |
Other restricted financial assets | |||
Loans and advances to banks | 2,353 | 5,140 | |
Financial assets at fair value held for trading | 242 | 1,054 | |
Cash collateral receivables on derivative instruments | 2,986 | 3,205 | |
Loans and advances to customers | 620 | 935 | |
Financial assets at fair value not held for trading | 29,368 | 23,212 | |
Financial assets measured at fair value through other comprehensive income | 176 | 171 | |
Other | 382 | 203 | |
Total other restricted financial assets | 36,126 | 33,920 | |
Total financial assets pledged and other restricted financial assets | 112,474 | 96,016 | |
Pledged mortgage loans that could be withdrawn or used | 6,300 | 3,200 | |
Assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes | $ 600 | $ 300 | |
[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 6.3 billion for 31 December 2019 (31 December 2018: approximately USD 3.2 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 2019: USD 0.6 billion; 31 December 2018: USD 0.3 billion). | ||
[3] | 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 6.3 billion for 31 December 2019 (31 December 2018: approximately USD 3.2 billion) could be withdrawn or used for future liabilities or covered bond issuances without breaching existing collateral requirements | ||
[4] | Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes (31 December 2019: USD 0.6 billion; 31 December 2018: USD 0.3 billion). |
Restricted financial assets (Na
Restricted financial assets (Narrative) (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
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 | $ 11,206 | $ 12,516 |
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 | $ 11,206 | $ 12,516 |
Transferred financial assets _4
Transferred financial assets that are not derecognized in their entirety (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying amount of transferred assets | $ 41,473 | $ 32,121 |
Carrying amount of associated liabilities recognized on balance sheet | 16,858 | 4,674 |
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 amount of transferred assets | 41,285 | 32,121 |
Carrying amount of associated liabilities recognized on balance sheet | 16,671 | 4,674 |
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 amount of transferred assets | 16,945 | 4,726 |
Carrying amount of associated liabilities recognized on balance sheet | 16,671 | 4,674 |
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 amount of transferred assets | 24,082 | 26,234 |
Carrying amount 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 amount of transferred assets | 258 | 1,161 |
Carrying amount 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 amount of transferred assets | 188 | 0 |
Carrying amount of associated liabilities recognized on balance sheet | 187 | 0 |
UBS AG | ||
Disclosure Of Financial Assets Transferred During Period Which Do Not Qualify For Derecognition [Line Items] | ||
Carrying amount of transferred assets | 41,473 | 32,121 |
Carrying amount of associated liabilities recognized on balance sheet | 16,858 | 4,674 |
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 amount of transferred assets | 41,285 | 32,121 |
Carrying amount of associated liabilities recognized on balance sheet | 16,671 | 4,674 |
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 amount of transferred assets | 16,945 | 4,726 |
Carrying amount of associated liabilities recognized on balance sheet | 16,671 | 4,674 |
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 amount of transferred assets | 24,082 | 26,234 |
Carrying amount 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 amount of transferred assets | 258 | 1,161 |
Carrying amount 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 amount of transferred assets | 188 | 0 |
Carrying amount of associated liabilities recognized on balance sheet | $ 187 | $ 0 |
Transferred financial assets _5
Transferred financial assets that are not derecognized in their entirety (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
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 | 40.00% |
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 | 40.00% |
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, 2019 | Dec. 31, 2018 | |
Disclosure Of Continuing Involvement In Derecognised Financial Assets [Line Items] | ||
Fair Value Of Assets Representing Continuing Involvement In Derecognised Financial Assets | $ 351 | $ 6 |
Income From Continuing Involvement In Derecognised Financial Assets | 0 | 3 |
Expense From Continuing Involvement In Derecognised Financial Assets Cumulatively Recognised | 1,198 | 1,198 |
Maximum Exposure To Loss From Continuing Involvement | 6 | 10 |
UBS AG | ||
Disclosure Of Continuing Involvement In Derecognised Financial Assets [Line Items] | ||
Fair Value Of Assets Representing Continuing Involvement In Derecognised Financial Assets | 351 | 6 |
Income From Continuing Involvement In Derecognised Financial Assets | 0 | 3 |
Expense From Continuing Involvement In Derecognised Financial Assets Cumulatively Recognised | 1,198 | 1,198 |
Maximum Exposure To Loss From Continuing Involvement | $ 6 | $ 10 |
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, 2019USD ($) |
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 | $ 3 |
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 | 3 |
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 | 3 |
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 | $ 3 |
Off-balance sheet assets rece_3
Off-balance sheet assets received (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Off Balance Sheet Assets Received [Line Items] | |||
Fair value of assets received that can be sold or repledged | $ 475,726 | $ 483,688 | |
received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions | [1] | 466,045 | 473,302 |
received in unsecured borrowings | 9,681 | 10,385 | |
Thereof sold or repledged | [2] | 350,477 | 356,745 |
in connection with financing activities | 305,362 | 315,402 | |
to satisfy commitments under short sale transactions | 30,591 | 28,943 | |
in connection with derivative and other transactions | [1] | 14,524 | 12,400 |
Off-balance sheet securities placed with central banks related to undrawn credit lines and for payment, clearing and settlement | 19,600 | 24,500 | |
UBS AG | |||
Off Balance Sheet Assets Received [Line Items] | |||
Fair value of assets received that can be sold or repledged | 475,726 | 483,688 | |
received as collateral under reverse repurchase, securities borrowing and lending arrangements, derivative and other transactions | [3] | 466,045 | 473,302 |
received in unsecured borrowings | 9,681 | 10,385 | |
Thereof sold or repledged | [4] | 351,327 | 356,752 |
in connection with financing activities | 306,212 | 315,402 | |
to satisfy commitments under short sale transactions | 30,591 | 28,949 | |
in connection with derivative and other transactions | [3] | 14,524 | 12,400 |
Off-balance sheet securities placed with central banks related to undrawn credit lines and for payment, clearing and settlement | $ 19,600 | $ 24,500 | |
[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 2019: USD 19.6 billion; 31 December 2018: USD 24.5 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 2019: USD 19.6 billion; 31 December 2018: USD 24.5 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, 2019 | Dec. 31, 2018 | |
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | [1] | $ 6,600 | $ 11,000 |
Payables from securities financing transactions, undiscounted cash flow | [1] | 7,800 | 10,400 |
Cash collateral payables on derivative instruments, undiscounted cash flow | [1] | 31,400 | 28,900 |
Customer deposits, undiscounted cash flow | [1] | 448,900 | 420,400 |
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 122,700 | 146,200 |
Other financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 9,000 | 5,600 |
of which: lease liabilities, undiscounted cash flow | [1] | 4,600 | |
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 626,400 | 622,600 |
Financial liabilities at fair value held for trading | [1],[3],[4] | 30,591 | 28,943 |
Derivative financial instruments | [1],[3],[5],[6],[7] | 120,880 | 125,723 |
Brokerage payables designated at fair value, undiscounted cash flows | [1] | 37,200 | 38,400 |
Debt issued designated at fair value, undiscounted cash flows | [1],[8] | 68,500 | 59,400 |
Other financial liabilities designated at fair value, undiscounted cash flows | [1] | 36,100 | 33,700 |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | [1] | 293,300 | 286,200 |
Total financial liabilities, undiscounted cash flows | [1] | 919,800 | 908,800 |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | [9],[10] | 33,900 | 34,700 |
Guarantees | [9],[10] | 19,100 | 19,800 |
Forward starting transactions | |||
Reverse repurchase agreements | [9],[10] | 21,900 | 9,000 |
Securities borrowing agreements | [9] | 0 | 0 |
Total | [9] | 74,900 | 63,600 |
Trading portfolio liabilities contractually due within one month | 30,000 | 28,300 | |
Trading portfolio liabilities contractually due between one month and one year | 600 | 600 | |
Trading portfolio liabilities contractually due between 1 and 5 years | 0 | 0 | |
Due within 1 month | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | [1] | 5,400 | 7,900 |
Payables from securities financing transactions, undiscounted cash flow | [1] | 7,400 | 9,500 |
Cash collateral payables on derivative instruments, undiscounted cash flow | [1] | 31,400 | 28,900 |
Customer deposits, undiscounted cash flow | [1] | 423,000 | 395,800 |
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 4,500 | 4,600 |
Other financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 4,500 | 5,600 |
of which: lease liabilities, undiscounted cash flow | [1] | 100 | |
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 476,100 | 452,400 |
Financial liabilities at fair value held for trading | [1],[3],[4] | 30,600 | 28,900 |
Derivative financial instruments | [1],[3] | 120,900 | 125,700 |
Brokerage payables designated at fair value, undiscounted cash flows | [1] | 37,200 | 38,400 |
Debt issued designated at fair value, undiscounted cash flows | [1],[8] | 21,300 | 15,700 |
Other financial liabilities designated at fair value, undiscounted cash flows | [1] | 34,000 | 30,000 |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | [1] | 244,000 | 238,800 |
Total financial liabilities, undiscounted cash flows | [1] | 720,100 | 691,200 |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | [9],[10] | 33,100 | 34,100 |
Guarantees | [9],[10] | 19,100 | 19,800 |
Forward starting transactions | |||
Reverse repurchase agreements | [9],[10] | 21,900 | 9,000 |
Securities borrowing agreements | [9] | 0 | |
Total | [9] | 74,100 | 62,900 |
Due between 1 and 3 months | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | [1] | 300 | 1,000 |
Payables from securities financing transactions, undiscounted cash flow | [1] | 100 | 600 |
Customer deposits, undiscounted cash flow | [1] | 16,100 | 13,100 |
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 5,300 | 6,300 |
Other financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 100 | |
of which: lease liabilities, undiscounted cash flow | [1] | 100 | |
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 22,000 | 21,000 |
Debt issued designated at fair value, undiscounted cash flows | [1],[8] | 17,400 | 18,100 |
Other financial liabilities designated at fair value, undiscounted cash flows | [1] | 400 | 400 |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | [1] | 17,800 | 18,500 |
Total financial liabilities, undiscounted cash flows | [1] | 39,900 | 39,500 |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | [9],[10] | 500 | 300 |
Forward starting transactions | |||
Total | [9] | 500 | 300 |
Due between 3 and 12 months | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | [1] | 400 | 1,600 |
Payables from securities financing transactions, undiscounted cash flow | [1] | 300 | 300 |
Customer deposits, undiscounted cash flow | [1] | 7,300 | 7,000 |
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 30,500 | 39,900 |
Other financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 500 | |
of which: lease liabilities, undiscounted cash flow | [1] | 500 | |
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 38,900 | 48,800 |
Debt issued designated at fair value, undiscounted cash flows | [1],[8] | 9,500 | 10,200 |
Other financial liabilities designated at fair value, undiscounted cash flows | [1] | 500 | 1,100 |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | [1] | 9,900 | 11,300 |
Total financial liabilities, undiscounted cash flows | [1] | 48,800 | 60,100 |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | [9],[10] | 300 | 300 |
Forward starting transactions | |||
Reverse repurchase agreements | [9],[10] | 0 | 0 |
Total | [9] | 300 | 400 |
Due between 1 and 5 years | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | [1] | 500 | 500 |
Customer deposits, undiscounted cash flow | [1] | 2,500 | 4,400 |
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 46,300 | 57,600 |
Other financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 2,000 | |
of which: lease liabilities, undiscounted cash flow | [1] | 2,000 | |
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 51,300 | 62,600 |
Debt issued designated at fair value, undiscounted cash flows | [1],[8] | 12,700 | 7,400 |
Other financial liabilities designated at fair value, undiscounted cash flows | [1] | 400 | 1,200 |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | [1] | 13,100 | 8,600 |
Total financial liabilities, undiscounted cash flows | [1] | 64,500 | 71,200 |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | [9],[10] | 0 | 0 |
Forward starting transactions | |||
Total | [9] | 0 | 0 |
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 |
Debt issued measured at amortized cost, undiscounted cash flows | [1],[2] | 36,000 | 37,800 |
Other financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 2,000 | |
of which: lease liabilities, undiscounted cash flow | [1] | 2,000 | |
Total financial liabilities measured at amortized cost, undiscounted cash flows | [1] | 38,100 | 37,800 |
Debt issued designated at fair value, undiscounted cash flows | [1],[8] | 7,600 | 8,000 |
Other financial liabilities designated at fair value, undiscounted cash flows | [1] | 900 | 1,000 |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | [1] | 8,500 | 9,000 |
Total financial liabilities, undiscounted cash flows | [1] | 46,600 | 46,800 |
Forward starting transactions | |||
Total | [9] | 0 | 0 |
UBS AG | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | 6,600 | 11,000 | |
Payables from securities financing transactions, undiscounted cash flow | 7,800 | 10,400 | |
Cash collateral payables on derivative instruments, undiscounted cash flow | 31,400 | 28,900 | |
Customer deposits, undiscounted cash flow | 451,200 | 422,100 | |
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | 56,200 | 44,400 | |
Debt issued measured at amortized cost, undiscounted cash flows | 66,500 | 96,500 | |
Other financial liabilities measured at amortized cost, undiscounted cash flows | 9,600 | 6,400 | |
of which: lease liabilities, undiscounted cash flow | 4,500 | ||
Total financial liabilities measured at amortized cost, undiscounted cash flows | 629,300 | 619,700 | |
Financial liabilities at fair value held for trading | 30,591 | 28,949 | |
Derivative financial instruments | [5],[7],[11] | 120,880 | 125,723 |
Brokerage payables designated at fair value, undiscounted cash flows | 37,200 | 38,400 | |
Debt issued designated at fair value, undiscounted cash flows | 68,000 | 59,400 | |
Other financial liabilities designated at fair value, undiscounted cash flows | 36,100 | 33,700 | |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 292,900 | 286,200 | |
Total financial liabilities, undiscounted cash flows | 922,200 | 905,900 | |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | 33,900 | 34,700 | |
Guarantees | 19,100 | 19,800 | |
Forward starting transactions | |||
Reverse repurchase agreements | 21,900 | 9,000 | |
Securities borrowing agreements | 0 | 0 | |
Total | 74,900 | 63,600 | |
Trading portfolio liabilities contractually due within one month | 30,000 | 28,300 | |
Trading portfolio liabilities contractually due between one month and one year | 600 | 600 | |
Trading portfolio liabilities contractually due between 1 and 5 years | 0 | 0 | |
UBS AG | Due within 1 month | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | 5,400 | 7,900 | |
Payables from securities financing transactions, undiscounted cash flow | 7,400 | 9,500 | |
Cash collateral payables on derivative instruments, undiscounted cash flow | 31,400 | 28,900 | |
Customer deposits, undiscounted cash flow | 423,900 | 396,600 | |
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | 0 | 0 | |
Debt issued measured at amortized cost, undiscounted cash flows | 4,300 | 4,600 | |
Other financial liabilities measured at amortized cost, undiscounted cash flows | 5,200 | 6,400 | |
of which: lease liabilities, undiscounted cash flow | 100 | ||
Total financial liabilities measured at amortized cost, undiscounted cash flows | 477,600 | 453,900 | |
Financial liabilities at fair value held for trading | 30,600 | 29,000 | |
Derivative financial instruments | 120,900 | 125,700 | |
Brokerage payables designated at fair value, undiscounted cash flows | 37,200 | 38,400 | |
Debt issued designated at fair value, undiscounted cash flows | 21,300 | 15,700 | |
Other financial liabilities designated at fair value, undiscounted cash flows | 34,000 | 30,000 | |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 244,000 | 238,800 | |
Total financial liabilities, undiscounted cash flows | 721,600 | 692,700 | |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | 33,100 | 34,100 | |
Guarantees | 19,100 | 19,800 | |
Forward starting transactions | |||
Reverse repurchase agreements | 21,900 | 9,000 | |
Securities borrowing agreements | 0 | ||
Total | 74,100 | 62,900 | |
UBS AG | Due between 1 and 3 months | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | 300 | 1,000 | |
Payables from securities financing transactions, undiscounted cash flow | 100 | 600 | |
Customer deposits, undiscounted cash flow | 16,500 | 13,400 | |
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | 200 | 0 | |
Debt issued measured at amortized cost, undiscounted cash flows | 4,700 | 5,800 | |
Other financial liabilities measured at amortized cost, undiscounted cash flows | 100 | ||
of which: lease liabilities, undiscounted cash flow | 100 | ||
Total financial liabilities measured at amortized cost, undiscounted cash flows | 22,000 | 20,800 | |
Debt issued designated at fair value, undiscounted cash flows | 17,400 | 18,100 | |
Other financial liabilities designated at fair value, undiscounted cash flows | 400 | 400 | |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 17,800 | 18,500 | |
Total financial liabilities, undiscounted cash flows | 39,900 | 39,300 | |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | 500 | 300 | |
Forward starting transactions | |||
Total | 500 | 300 | |
UBS AG | Due between 3 and 12 months | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | 400 | 1,600 | |
Payables from securities financing transactions, undiscounted cash flow | 300 | 300 | |
Customer deposits, undiscounted cash flow | 7,300 | 6,900 | |
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | 2,300 | 500 | |
Debt issued measured at amortized cost, undiscounted cash flows | 27,800 | 39,100 | |
Other financial liabilities measured at amortized cost, undiscounted cash flows | 500 | ||
of which: lease liabilities, undiscounted cash flow | 500 | ||
Total financial liabilities measured at amortized cost, undiscounted cash flows | 38,500 | 48,400 | |
Debt issued designated at fair value, undiscounted cash flows | 9,500 | 10,200 | |
Other financial liabilities designated at fair value, undiscounted cash flows | 500 | 1,100 | |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 9,900 | 11,300 | |
Total financial liabilities, undiscounted cash flows | 48,400 | 59,700 | |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | 300 | 300 | |
Forward starting transactions | |||
Reverse repurchase agreements | 0 | 0 | |
Total | 300 | 400 | |
UBS AG | Due between 1 and 5 years | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | 500 | 500 | |
Customer deposits, undiscounted cash flow | 3,500 | 5,100 | |
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | 29,000 | 21,900 | |
Debt issued measured at amortized cost, undiscounted cash flows | 20,700 | 34,700 | |
Other financial liabilities measured at amortized cost, undiscounted cash flows | 1,900 | ||
of which: lease liabilities, undiscounted cash flow | 1,900 | ||
Total financial liabilities measured at amortized cost, undiscounted cash flows | 55,600 | 62,300 | |
Debt issued designated at fair value, undiscounted cash flows | 12,700 | 7,400 | |
Other financial liabilities designated at fair value, undiscounted cash flows | 400 | 1,200 | |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 13,100 | 8,600 | |
Total financial liabilities, undiscounted cash flows | 68,700 | 70,900 | |
Guarantees, commitments and forward starting transactions | |||
Loan commitments | 0 | 0 | |
Forward starting transactions | |||
Total | 0 | 0 | |
UBS AG | Due after 5 years | |||
Financial liabilities recognized on balance sheet | |||
Amounts due to banks, undiscounted cash flow | 0 | 0 | |
Payables from securities financing transactions, undiscounted cash flow | 0 | 0 | |
Customer deposits, undiscounted cash flow | 0 | 0 | |
Funding from UBS Group AG and its subsidiaries, undiscounted cash flow | 24,600 | 22,000 | |
Debt issued measured at amortized cost, undiscounted cash flows | 9,000 | 12,400 | |
Other financial liabilities measured at amortized cost, undiscounted cash flows | 2,000 | ||
of which: lease liabilities, undiscounted cash flow | 2,000 | ||
Total financial liabilities measured at amortized cost, undiscounted cash flows | 35,600 | 34,300 | |
Debt issued designated at fair value, undiscounted cash flows | 7,100 | 8,000 | |
Other financial liabilities designated at fair value, undiscounted cash flows | 900 | 1,000 | |
Total financial liabilities measured at fair value through profit or loss, undiscounted cash flows | 8,000 | 9,000 | |
Total financial liabilities, undiscounted cash flows | 43,600 | 43,300 | |
Forward starting transactions | |||
Total | $ 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 amount 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 30 billion due within 1 month (2018: USD 28.3 billion), USD 0.6 billion due between 1 month and 1 year (2018: USD 0.6 billion) and USD 0 billion due between 1 and 5 years (2018: USD 0 billion). | ||
[5] | Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in Note 34 under Loan commitments | ||
[6] | 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. | ||
[7] | Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. | ||
[8] | 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. | ||
[9] | Comprises the maximum irrevocable amount of guarantees, commitments and forward starting transactions. | ||
[10] | Loan commitments measured at fair value of USD 6.3 billion (2018: USD 3.5 billion), guarantees measured at fair value of USD 1.0 billion (2018: USD 1.6 billion) and forward starting reverse repurchase agreements measured at fair value of USD 20.3 billion (2018: USD 8.1 billion) are under the time bucket Due within 1 month. | ||
[11] | Financial assets and liabilities are presented net on the balance sheet if UBS AG 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. |
Hedge accounting (Narrative) (D
Hedge accounting (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
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 [Member] | |
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, 2019 | Dec. 31, 2018 |
Disclosure Of Hedge Accounting [Line Items] | ||
Nominal amount | $ 65,257 | $ 63,816 |
Derivative financial assets | 33 | 27 |
Derivative financial liabilities | 1 | |
Hedged items: Debt issued measured at amortized cost | ||
Carrying amount | 67,379 | 63,785 |
of which: accumulated amount of fair value hedge adjustment | 1,099 | (298) |
UBS AG | ||
Disclosure Of Hedge Accounting [Line Items] | ||
Nominal amount | 65,257 | 63,816 |
Derivative financial assets | 33 | 27 |
Derivative financial liabilities | 1 | |
Hedged items: Debt issued measured at amortized cost | ||
Carrying amount | 26,120 | 28,139 |
of which: accumulated amount of fair value hedge adjustment | 574 | 282 |
Hedged Item Funding From UBS Group And Its Subsidiaries [Abstract] | ||
Carrying amount | 41,258 | 35,647 |
of which: accumulated amount of fair value hedge adjustment | $ 525 | $ (580) |
Hedge accounting (Detail 1.2)
Hedge accounting (Detail 1.2) - Fair value hedges - Fair value hedges of interest rate risk - Hedging instruments: Interest rate swaps - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Gain Loss On Fair Value Hedges Of Interest Rate Risk Recognized In Earnings Line Items | |||
Changes in fair value of hedging instruments | $ 1,427 | $ (341) | $ (16) |
Changes in fair value of hedged items | (1,408) | 329 | (4) |
Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss | 19 | (11) | (20) |
UBS AG | |||
Gain Loss On Fair Value Hedges Of Interest Rate Risk Recognized In Earnings Line Items | |||
Changes in fair value of hedging instruments | 1,427 | (341) | (16) |
Changes in fair value of hedged items | (1,408) | 329 | (4) |
Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss | $ 19 | $ (11) | $ (20) |
Hedge accounting (Detail 2)
Hedge accounting (Detail 2) - Interest rate swaps contract - USD ($) $ in Billions | Dec. 31, 2019 | Dec. 31, 2018 |
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | ||
Interest rate swaps | $ 65 | $ 64 |
Due between 1 and 3 months | ||
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | ||
Interest rate swaps | 3 | |
Due between 3 and 12 months | ||
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | ||
Interest rate swaps | 9 | 4 |
Due between 1 and 5 years | ||
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | ||
Interest rate swaps | 40 | 43 |
Due after 5 years | ||
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | ||
Interest rate swaps | 14 | 17 |
UBS AG | ||
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | ||
Interest rate swaps | 65 | 64 |
UBS AG | Due between 1 and 3 months | ||
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | ||
Interest rate swaps | 3 | |
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 | 9 | 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 | 40 | 43 |
UBS AG | Due after 5 years | ||
Profile Of The Timing Of The Nominal Amount Of The Hedging Instrument [Line Items] | ||
Interest rate swaps | $ 14 | $ 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, 2019 | Dec. 31, 2018 | |
Nominal And Carrying Amount Of Fair Value Hedges Of Interest Rate Risk Related To Loans And Advances To Customers Line Items | |||
Nominal amount | $ 4,493 | $ 10,318 | |
Derivative financial assets | 0 | ||
Derivative financial liabilities | 14 | 31 | |
Hedged items: Loans and advances to customers | |||
Carrying amount | 4,494 | 10,299 | |
of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting | [1] | 117 | 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 | [1] | 172 | 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 | 4,493 | 10,318 | |
Derivative financial assets | 0 | ||
Derivative financial liabilities | 14 | 31 | |
Hedged items: Loans and advances to customers | |||
Carrying amount | 4,494 | 10,299 | |
of which: accumulated amount of fair value hedge adjustment on the portfolio that was subject to hedge accounting | [1] | 117 | 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 | [1] | $ 172 | $ 89 |
[1] | 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
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] | $ (38) | $ (22) | $ (10) |
Changes in fair value of hedged items | [1] | 32 | 16 | 3 |
Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss | (6) | (6) | (7) | |
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] | (38) | (22) | (10) |
Changes in fair value of hedged items | [1] | 32 | 16 | 3 |
Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss | $ (6) | $ (6) | $ (7) | |
[1] | For the year ended 31 December 2017, 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, 2019 | Dec. 31, 2018 |
Nominal And Carrying Amount Of Cash Flow Hedges Of Forecast Transactions [Line Items] | ||
Nominal amount | $ 69,443 | $ 70,149 |
Derivative financial assets | 16 | 24 |
Derivative financial liabilities | 1 | |
UBS AG | ||
Nominal And Carrying Amount Of Cash Flow Hedges Of Forecast Transactions [Line Items] | ||
Nominal amount | 69,443 | 70,149 |
Derivative financial assets | $ 16 | 24 |
Derivative financial liabilities | $ 1 |
Hedge accounting (Detail 4.2)
Hedge accounting (Detail 4.2) - Cash flow hedges of forecast transactions - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
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 | $ 1,571 | $ (42) | $ 45 | |
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] | 1,639 | 97 | |
Changes in fair value of hedged items | [1] | (1,571) | (73) | |
Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income | 1,571 | (42) | 45 | |
Ineffectiveness recognised as Other net income from fair value changes on financial instruments | 68 | 25 | 8 | |
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 | 1,571 | (42) | 45 | |
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] | 1,639 | 97 | |
Changes in fair value of hedged items | [1] | (1,571) | (73) | |
Effective portion of changes in fair value of hedging instruments recognized as Other comprehensive income | 1,571 | (42) | 45 | |
Ineffectiveness recognised as Other net income from fair value changes on financial instruments | $ 68 | $ 25 | $ 8 | |
[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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
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 | 109 | 360 | 955 | |
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | 1,571 | (42) | 45 | |
Net realized (gains) / losses reclassified to the income statement from equity | (175) | (294) | (843) | |
of which: reclassified to interest income on amortized cost instruments | [1] | (175) | (293) | |
of which: reclassified to interest income on FVTPL instruments | [1] | 0 | (1) | |
Income tax related to cash flow hedges | (253) | 67 | 163 | |
Balance at the end of the year | 1,260 | 109 | 360 | |
of which: related to hedging relationships for which hedge accounting continues to be applied | [1],[2] | 1,596 | 74 | |
of which: amount related to hedging relationships for which hedge accounting is no longer applied | [1],[2] | (43) | 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 | 109 | 360 | 955 | |
Effective portion of changes in fair value of derivative instruments designated as cash flow hedges, before tax | 1,571 | (42) | 45 | |
Net realized (gains) / losses reclassified to the income statement from equity | (175) | (294) | (843) | |
of which: reclassified to interest income on amortized cost instruments | [1] | (175) | (293) | |
of which: reclassified to interest income on FVTPL instruments | [1] | 0 | (1) | |
Income tax related to cash flow hedges | (253) | 67 | 163 | |
Balance at the end of the year | 1,260 | 109 | $ 360 | |
of which: related to hedging relationships for which hedge accounting continues to be applied | [1],[2] | 1,596 | 74 | |
of which: amount related to hedging relationships for which hedge accounting is no longer applied | [1],[2] | $ (43) | $ 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, 2019 | Dec. 31, 2018 |
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 | 11,992 | 11,537 |
Derivative financial assets | 9 | 56 |
Derivative financial liabilities | 171 | 48 |
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 | 217 | 229 |
Receivables from securities financing transactions | 109 | 115 |
Payables from securities financing transactions | 109 | 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 | 11,875 | 11,432 |
Derivative financial assets | 9 | 56 |
Derivative financial liabilities | 170 | 45 |
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 | 217 | 229 |
Receivables from securities financing transactions | 109 | 115 |
Payables from securities financing transactions | $ 109 | $ 115 |
Hedge accounting (Detail 6.2)
Hedge accounting (Detail 6.2) - Hedges of net investments in foreign operations - Currency swap contract - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Gain Loss On Cash Flow Hedges Of Forecast Transactions Recognized In Earnings [Line Items] | ||
Changes in fair value of hedging instruments | $ (142) | $ 205 |
Changes in fair value of hedged items | 134 | (205) |
Effective portion of changes in fair value of hedging instruments recognised in Foreign currency translation OCI | (134) | 181 |
Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss | (8) | 24 |
UBS AG | ||
Gain Loss On Cash Flow Hedges Of Forecast Transactions Recognized In Earnings [Line Items] | ||
Changes in fair value of hedging instruments | (153) | 199 |
Changes in fair value of hedged items | 144 | (199) |
Effective portion of changes in fair value of hedging instruments recognised in Foreign currency translation OCI | (144) | 181 |
Net gains / (losses) related to hedge ineffectiveness recognized in Other net income from financial instruments measured at fair value through profit or loss | $ (8) | $ 18 |
Hedge accounting (Detail 7)
Hedge accounting (Detail 7) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Foreign Currency Translation Reserve [Line Items] | |||||
Foreign currency translation reserve | $ 4,028 | $ 3,924 | $ 4,466 | ||
of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries | 643 | 777 | [1] | ||
of which: for which hedge accounting continues to be applied | [1] | 386 | 521 | ||
of which: for which hedge accounting is no longer applied | [1] | 257 | 255 | ||
Effective portion of changes in fair value of hedging instruments reclassified to other income upon disposal of investment | [1] | (14) | 2 | ||
UBS AG | |||||
Foreign Currency Translation Reserve [Line Items] | |||||
Foreign currency translation reserve | 4,032 | 3,940 | $ 4,455 | ||
of which: effective portion of changes in fair value of hedging instruments related to investment in subsidiaries | [1] | 634 | 770 | ||
of which: for which hedge accounting continues to be applied | [1] | 377 | 515 | ||
of which: for which hedge accounting is no longer applied | [1] | 257 | 255 | ||
Effective portion of changes in fair value of hedging instruments reclassified to other income upon disposal of investment | [1] | $ (14) | $ 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 - USD ($) $ in Billions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | $ 11 | $ 11 |
Cash outflows | 11 | 11 |
Net cash flows | 0 | 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 | 6 | 9 |
Cash outflows | 6 | 9 |
Net cash flows | 0 | 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 | 5 | 2 |
Cash outflows | 5 | 2 |
Net cash flows | 0 | 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 | |
UBS AG | ||
Disclosure Of Information About Terms And Conditions Of Hedging Instruments And How They Affect Future Cash Flows [Line Items] | ||
Cash inflows | 11 | 11 |
Cash outflows | 11 | 11 |
Net cash flows | 0 | 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 | 6 | 9 |
Cash outflows | 6 | 9 |
Net cash flows | 0 | 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 | 5 | 2 |
Cash outflows | 5 | 2 |
Net cash flows | 0 | $ 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 |
Hedge accounting (Detail 9)
Hedge accounting (Detail 9) - Cash flow hedges of forecast transactions - Interest rate risk - Hedging instruments: Interest rate swaps - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Nominal And Carrying Amount Of Cash Flow Hedges Of Forecast Transactions [Line Items] | ||
Nominal amount | $ 69,443 | $ 70,149 |
Derivative financial assets | 16 | 24 |
Derivative financial liabilities | 1 | |
Interest rate benchmark reform exceptions effect on cash flow hedges | ||
Nominal And Carrying Amount Of Cash Flow Hedges Of Forecast Transactions [Line Items] | ||
Nominal amount | 16,462 | |
Derivative financial assets | 0 | |
Derivative financial liabilities | 0 | |
UBS AG | ||
Nominal And Carrying Amount Of Cash Flow Hedges Of Forecast Transactions [Line Items] | ||
Nominal amount | 69,443 | 70,149 |
Derivative financial assets | 16 | 24 |
Derivative financial liabilities | $ 1 | |
UBS AG | Interest rate benchmark reform exceptions effect on cash flow hedges | ||
Nominal And Carrying Amount Of Cash Flow Hedges Of Forecast Transactions [Line Items] | ||
Nominal amount | 16,462 | |
Derivative financial assets | 0 | |
Derivative financial liabilities | $ 0 |
Pension and other post-employ_3
Pension and other post-employment benefit plans (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | $ 461 | $ 188 | $ 481 | |
Expenses for defined contribution plans | 326 | 268 | 243 | |
Total pension and other post-employment benefit plan expenses | [1] | 787 | 457 | 723 |
of which: UK plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 82 | 80 | 72 | |
of which: US plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 173 | 127 | 110 | |
of which: remaining plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 71 | 61 | 61 | |
of which: related to major pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 440 | 186 | 460 | |
of which: Swiss plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [2] | 417 | 153 | 414 |
Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain related to past service | 59 | |||
of which: UK plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 3 | 11 | 15 | |
of which: US and German plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 21 | 22 | 31 | |
of which: related to post-employment medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 2 | (11) | 3 | |
of which: related to remaining plans and other expenses | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [3] | 18 | 13 | 17 |
UBS AG | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 291 | 140 | 365 | |
Expenses for defined contribution plans | 278 | 223 | 236 | |
Total pension and other post-employment benefit plan expenses | [1] | 569 | 363 | 601 |
UBS AG | of which: UK plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 34 | 35 | 65 | |
UBS AG | of which: US plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 173 | 127 | 110 | |
UBS AG | of which: remaining plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Expenses for defined contribution plans | 71 | 61 | 61 | |
UBS AG | of which: related to major pension plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 271 | 141 | 354 | |
UBS AG | of which: Swiss plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | [2] | 248 | 108 | 307 |
Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain related to past service | 34 | |||
UBS AG | of which: UK plan | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 3 | 11 | 15 | |
UBS AG | of which: US and German plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 21 | 22 | 31 | |
UBS AG | of which: related to post-employment medical insurance plans | ||||
Postemployment Benefit Expense [Line Items] | ||||
Net periodic expenses for defined benefit plans | 2 | (11) | 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] | $ 17 | $ 10 | $ 8 |
[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. |
Pension and other post-employ_4
Pension and other post-employment benefit plans (Detail 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | $ (146) | $ (220) | $ 286 |
Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income | (41) | 276 | 11 |
Gains / (losses) recognized in other comprehensive income, net of tax | (186) | 56 | 296 |
Major pension plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (135) | (230) | 253 |
of which: Swiss plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (22) | (352) | (79) |
of which: UK plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (78) | 130 | 304 |
of which: US and German plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (35) | (8) | 28 |
Post-employment medical insurance plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (3) | 7 | 1 |
Remaining plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (8) | 3 | 31 |
UBS AG | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (129) | (70) | 308 |
Tax (expense) / benefit relating to defined benefit plans recognized in other comprehensive income | (41) | 245 | 6 |
Gains / (losses) recognized in other comprehensive income, net of tax | (170) | 175 | 314 |
UBS AG | Major pension plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (128) | (79) | 276 |
UBS AG | of which: Swiss plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (15) | (201) | (56) |
UBS AG | of which: UK plan | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (78) | 130 | 304 |
UBS AG | of which: US and German plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (35) | (8) | 28 |
UBS AG | Post-employment medical insurance plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (3) | 7 | 1 |
UBS AG | Remaining plans | |||
Postemployment Benefit Expense [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | $ 1 | $ 3 | $ 31 |
Pension and other post-employ_5
Pension and other post-employment benefit plans (Detail 3) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | [1] | $ 9 | $ 0 |
Total net defined benefit pension and post-employment liability | 633 | 775 | |
Major pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | 9 | 0 | |
Total net defined benefit pension and post-employment liability | 527 | 671 | |
of which: Swiss plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | 0 | 0 | |
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 asset | 4 | 0 | |
Total net defined benefit pension and post-employment liability | 0 | 160 | |
of which: US and German plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | 5 | 0 | |
Total net defined benefit pension and post-employment liability | [1] | 527 | 511 |
US plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 111 | 137 | |
German plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 416 | 374 | |
Post-employment medical insurance plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 62 | 62 | |
Remaining plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 44 | 42 | |
UBS AG | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | [2] | 9 | 0 |
Total net defined benefit pension and post-employment liability | 629 | 773 | |
UBS AG | Major pension plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | 9 | 0 | |
Total net defined benefit pension and post-employment liability | 527 | 671 | |
UBS AG | of which: Swiss plan | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | 0 | 0 | |
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 asset | 4 | 0 | |
Total net defined benefit pension and post-employment liability | 0 | 160 | |
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] | 527 | 511 |
UBS AG | US plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment asset | 5 | 0 | |
Total net defined benefit pension and post-employment liability | 111 | 137 | |
UBS AG | German plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | 416 | 374 | |
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 | 62 | |
UBS AG | Remaining plans | |||
Recognised Assets And Liabilities Defined Benefit Plan [Line Items] | |||
Total net defined benefit pension and post-employment liability | $ 40 | $ 40 | |
[1] | Of the total liability recognized as of 31 December 2019, USD 111 million related to US plans and USD 416 million related to German plans (31 December 2018: USD 137 million and USD 374 million, respectively). | ||
[2] | Of the total liability recognized as of 31 December 2019, USD 111 million related to US plans and USD 416 million related to German plans (31 December 2018: USD 137 million and USD 374 million, respectively). |
Pension and other post-employ_6
Pension and other post-employment benefit plans (Narrative) (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($)yr | Dec. 31, 2018USD ($) | |||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Total net defined benefit pension and post-employment asset | [1] | $ 9 | $ 0 | |
Major pension plans | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Employer contributions | 732 | 556 | ||
Plan assets | 33,176 | 30,039 | ||
Total net defined benefit pension and post-employment asset | $ 9 | $ 0 | ||
Swiss pension plan | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Employee contributions on contributory base salary (as a percent) | 0.00% | 0.00% | ||
Increased normal retirement age starting 2019 | yr | 65 | |||
Normal retirement age | yr | 64 | |||
Maximum retirement age starting 2019 | yr | 70 | |||
Decreased starting age for pension fund savings contributions starting 2019 | 20 | |||
Starting age for pension fund savings contributions | 25 | |||
Minimum age required to draw early retirement benefits | yr | 58 | |||
Technical funding ratio | 127.10% | 124.20% | ||
Limit for investments in equities | 50.00% | |||
Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain related to past service | $ 59 | |||
Reduction of equity expected from additional employer contributions to be paid to pension plan | $ 641 | |||
Employer contributions | 452 | 505 | ||
Plan assets | [2] | 28,219 | 25,839 | |
Minimum commitment toward the pension fund under the related leases | $ 14 | 17 | ||
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% | |||
Total net defined benefit pension and post-employment asset | $ 0 | 0 | ||
Swiss pension plan | 2020 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Extraordinary employer contributions expected for the next year | 234 | |||
Regular employer contributions expected for the next year | 466 | |||
Swiss pension plan | 2020-2022 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Additional employer contributions expected to be paid to employees retirement assets | 746 | |||
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 | (1,887) | 776 | ||
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 | 243 | $ (124) | ||
Swiss pension plan | Market-driven changes in the employee disability assumption | ||||
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 | 103 | |||
Swiss pension plan | Market-driven changes in the employee turnover assumption | ||||
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 | $ 94 | |||
Swiss pension plan | Maximum | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Increased employee contributions on contributory base salary (as a percentage) from the beginning of 2019 | 13.50% | |||
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% | |||
Swiss pension plan | Minimum | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Increased employee contributions on contributory base salary (as a percentage) from the beginning of 2019 | 2.50% | |||
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) | 2.80% | |||
UK pension plan | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Normal retirement age | yr | 60 | |||
Employer contributions | $ 242 | $ 0 | ||
Plan assets | 3,658 | 3,032 | ||
Total net defined benefit pension and post-employment asset | 4 | 0 | ||
UK pension plan | 2020 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Collateral pool established for pension fund | 364 | |||
Total 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 | (552) | 219 | ||
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 | 132 | 37 | ||
UK pension plan | Impact of change in actuarial assumption of the mortality improvement | ||||
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 | 21 | |||
US and German plans | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Employer contributions | 38 | 51 | ||
Plan assets | 1,299 | 1,168 | ||
Total net defined benefit pension and post-employment asset | $ 5 | 0 | ||
US pension plans | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Normal retirement age | yr | 65 | |||
Number of plans | 2 | |||
Employer contributions | $ 29 | 42 | ||
Plan assets | 1,299 | 1,168 | ||
US pension plans | 2020 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Regular 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 | 2020 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Regular employer contributions expected for the next year | $ 10 | |||
German pension plans - Larger | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Interest rate | 5.00% | |||
German pension plans - Smaller | before 2010 | ||||
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% | |||
German pension plans - Smaller | time after 2017 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Interest rate | 0.90% | |||
UBS AG | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Total net defined benefit pension and post-employment asset | [3] | $ 9 | 0 | |
UBS AG | Major pension plans | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Employer contributions | 550 | 360 | ||
Plan assets | 20,864 | 19,972 | ||
Total net defined benefit pension and post-employment asset | $ 9 | $ 0 | ||
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% | ||
Increased normal retirement age starting 2019 | yr | 65 | |||
Normal retirement age | yr | 64 | |||
Maximum retirement age starting 2019 | yr | 70 | |||
Decreased starting age for pension fund savings contributions starting 2019 | 20 | |||
Starting age for pension fund savings contributions | 25 | |||
Minimum age required to draw early retirement benefits | yr | 58 | |||
Technical funding ratio | 127.10% | 124.20% | ||
Limit for investments in equities | 50.00% | |||
Changes to the Swiss pension plan in 2018 resulted in a pre-tax gain related to past service | $ 34 | |||
Reduction of equity expected from additional employer contributions to be paid to pension plan | $ 391 | |||
Employer contributions | 271 | 308 | ||
Plan assets | 15,908 | 15,772 | [4] | |
Minimum commitment toward the pension fund under the related leases | $ 8 | 10 | ||
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% | |||
Total net defined benefit pension and post-employment asset | $ 0 | 0 | ||
UBS AG | Swiss pension plan | 2020 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Extraordinary employer contributions expected for the next year | 143 | |||
Regular employer contributions expected for the next year | 278 | |||
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 | 455 | |||
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 | (1,156) | 478 | ||
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 | 149 | $ (77) | ||
UBS AG | Swiss pension plan | Market-driven changes in the employee disability assumption | ||||
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 | 65 | |||
UBS AG | Swiss pension plan | Market-driven changes in the employee turnover assumption | ||||
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 | Swiss pension plan | Maximum | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Increased employee contributions on contributory base salary (as a percentage) from the beginning of 2019 | 13.50% | |||
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% | |||
UBS AG | Swiss pension plan | Minimum | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Increased employee contributions on contributory base salary (as a percentage) from the beginning of 2019 | 2.50% | |||
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) | 2.80% | |||
UBS AG | UK pension plan | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Normal retirement age | yr | 60 | |||
Employer contributions | $ 242 | $ 0 | ||
Plan assets | 3,658 | 3,032 | ||
Total net defined benefit pension and post-employment asset | 4 | 0 | ||
UBS AG | UK pension plan | 2020 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Collateral pool established for pension fund | 364 | |||
Total 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 | (552) | 219 | ||
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 | 132 | 37 | ||
UBS AG | UK pension plan | Impact of change in actuarial assumption of the mortality improvement | ||||
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 | 21 | |||
UBS AG | US and German plans | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Employer contributions | 38 | 51 | ||
Plan assets | $ 1,299 | 1,168 | ||
UBS AG | US pension plans | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Normal retirement age | yr | 65 | |||
Number of plans | 2 | |||
Employer contributions | $ 29 | 42 | ||
Plan assets | 1,299 | 1,168 | ||
Total net defined benefit pension and post-employment asset | 5 | $ 0 | ||
UBS AG | US pension plans | 2020 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Regular 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 | 2020 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Regular employer contributions expected for the next year | $ 10 | |||
UBS AG | German pension plans - Larger | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Interest rate | 5.00% | |||
UBS AG | German pension plans - Smaller | before 2010 | ||||
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 | German pension plans - Smaller | time after 2017 | ||||
Disclosure Of Defined Benefit Plans [Line Items] | ||||
Interest rate | 0.90% | |||
[1] | Of the total liability recognized as of 31 December 2019, USD 111 million related to US plans and USD 416 million related to German plans (31 December 2018: USD 137 million and USD 374 million, respectively). | |||
[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] | Of the total liability recognized as of 31 December 2019, USD 111 million related to US plans and USD 416 million related to German plans (31 December 2018: USD 137 million and USD 374 million, respectively). | |||
[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 4
Defined benefit plans (Detail 4.1) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Total | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | $ (671) | $ (825) | |
Remeasurement of defined benefit obligation | (2,275) | 577 | |
Past service cost related to plan amendments | 0 | 237 | |
Return on plan assets excluding amounts included in interest income | 2,492 | (736) | |
Employer contributions | 732 | 556 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (353) | (71) | |
Foreign currency translation | (3) | 14 | |
At the end of the year | (518) | (671) | |
Total | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 27,437 | 28,978 | |
Current service cost | 415 | 413 | |
Interest expense | 351 | 299 | |
Plan participant contributions | 240 | 218 | |
Remeasurement of defined benefit obligation | 2,275 | (577) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (220) | (23) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 2,241 | (964) | |
of which: experience (gains) / losses | [1] | 254 | 410 |
Past service cost related to plan amendments | 0 | (237) | |
Curtailments | 0 | (20) | |
Benefit payments | (1,283) | (1,268) | |
Foreign currency translation | 535 | (369) | |
At the end of the year | 29,970 | 27,437 | |
Total | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 30,039 | 31,390 | |
Plan participant contributions | 240 | 218 | |
Benefit payments | (1,283) | (1,268) | |
Return on plan assets excluding amounts included in interest income | 2,492 | (736) | |
Interest income | 369 | 306 | |
Employer contributions | 732 | 556 | |
Administration expenses, taxes and premiums paid | (13) | (14) | |
Foreign currency translation | 599 | (412) | |
At the end of the year | 33,176 | 30,039 | |
Total | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,274 | 3,237 | |
Interest expense on asset ceiling effect | 30 | 23 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 353 | 71 | |
Foreign currency translation | 67 | (58) | |
At the end of the year | 3,724 | 3,274 | |
Total | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 14,574 | ||
At the end of the year | 15,760 | 14,574 | |
Total | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 2,040 | ||
At the end of the year | 2,233 | 2,040 | |
Total | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 10,823 | ||
At the end of the year | 11,976 | 10,823 | |
Swiss plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 0 | 0 | |
Remeasurement of defined benefit obligation | (1,728) | 242 | |
Past service cost related to plan amendments | 0 | 241 | |
Return on plan assets excluding amounts included in interest income | 2,059 | (523) | |
Employer contributions | 452 | 505 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (353) | (71) | |
Foreign currency translation | (13) | 0 | |
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 | 22,566 | 23,419 | |
Current service cost | 409 | 405 | |
Interest expense | 200 | 151 | |
Plan participant contributions | 240 | 218 | |
Remeasurement of defined benefit obligation | 1,728 | (242) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (196) | 0 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 1,641 | (639) | |
of which: experience (gains) / losses | [1] | 284 | 397 |
Past service cost related to plan amendments | 0 | (241) | |
Curtailments | 0 | (20) | |
Benefit payments | (1,046) | (954) | |
Foreign currency translation | 399 | (170) | |
At the end of the year | 24,496 | 22,566 | |
Swiss plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 25,839 | 26,656 | |
Plan participant contributions | 240 | 218 | |
Benefit payments | (1,046) | (954) | |
Return on plan assets excluding amounts included in interest income | 2,059 | (523) | |
Interest income | 233 | 177 | |
Employer contributions | 452 | 505 | |
Administration expenses, taxes and premiums paid | (11) | (11) | |
Foreign currency translation | 453 | (228) | |
At the end of the year | 28,219 | 25,839 | |
Swiss plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,274 | 3,237 | |
Interest expense on asset ceiling effect | 30 | 23 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 353 | 71 | |
Foreign currency translation | 67 | (58) | |
At the end of the year | 3,724 | 3,274 | |
Swiss plan | of which: amounts owed to active members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 12,114 | ||
At the end of the year | 12,918 | 12,114 | |
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 | 10,452 | ||
At the end of the year | 11,577 | 10,452 | |
UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (160) | (275) | |
Remeasurement of defined benefit obligation | (361) | 266 | |
Past service cost related to plan amendments | 0 | (4) | |
Return on plan assets excluding amounts included in interest income | 284 | (136) | |
Employer contributions | 242 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Foreign currency translation | 2 | (4) | |
At the end of the year | 4 | (160) | |
UK plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,192 | 3,744 | |
Current service cost | 0 | 0 | |
Interest expense | 92 | 93 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of defined benefit obligation | 361 | (266) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (26) | (18) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 421 | (257) | |
of which: experience (gains) / losses | [1] | (34) | 8 |
Past service cost related to plan amendments | 0 | 4 | |
Curtailments | 0 | 0 | |
Benefit payments | (135) | (202) | |
Foreign currency translation | 144 | (181) | |
At the end of the year | 3,654 | 3,192 | |
UK plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,032 | 3,469 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (135) | (202) | |
Return on plan assets excluding amounts included in interest income | 284 | (136) | |
Interest income | 89 | 86 | |
Employer contributions | 242 | 0 | |
Administration expenses, taxes and premiums paid | 0 | 0 | |
Foreign currency translation | 146 | (185) | |
At the end of the year | 3,658 | 3,032 | |
UK plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 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 | |
Foreign currency translation | 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 | 1,612 | ||
At the end of the year | 1,931 | 1,612 | |
UK plan | of which: amounts owed to deferred members | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,434 | ||
At the end of the year | 1,559 | 1,434 | |
UK plan | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 146 | ||
At the end of the year | 164 | 146 | |
US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (511) | (550) | |
Remeasurement of defined benefit obligation | (185) | 69 | |
Past service cost related to plan amendments | 0 | 0 | |
Return on plan assets excluding amounts included in interest income | 150 | (77) | |
Employer contributions | 38 | 51 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Foreign currency translation | 8 | 18 | |
At the end of the year | (521) | (511) | |
US and German plans | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,679 | 1,816 | |
Current service cost | 6 | 7 | |
Interest expense | 59 | 55 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of defined benefit obligation | 185 | (69) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 3 | (5) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 179 | (69) | |
of which: experience (gains) / losses | [1] | 4 | 5 |
Past service cost related to plan amendments | 0 | 0 | |
Curtailments | 0 | 0 | |
Benefit payments | (102) | (112) | |
Foreign currency translation | (8) | (18) | |
At the end of the year | 1,820 | 1,679 | |
US and German plans | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,168 | 1,265 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (102) | (112) | |
Return on plan assets excluding amounts included in interest income | 150 | (77) | |
Interest income | 47 | 44 | |
Employer contributions | 38 | 51 | |
Administration expenses, taxes and premiums paid | (2) | (3) | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 1,299 | 1,168 | |
US and German plans | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 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 | |
Foreign currency translation | 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 | 847 | ||
At the end of the year | 911 | 847 | |
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 | 606 | ||
At the end of the year | 675 | 606 | |
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 | 226 | ||
At the end of the year | 235 | 226 | |
UBS AG | Total | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (671) | (825) | |
Remeasurement of defined benefit obligation | (485) | 598 | |
Past service cost related to plan amendments | 0 | 128 | |
Return on plan assets excluding amounts included in interest income | 403 | (647) | |
Employer contributions | 550 | 360 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (46) | (30) | |
Foreign currency translation | 2 | 14 | |
At the end of the year | (518) | (671) | |
UBS AG | Total | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 18,645 | 19,957 | |
Current service cost | 249 | 258 | |
Interest expense | 273 | 241 | |
Plan participant contributions | 149 | 137 | |
Remeasurement of defined benefit obligation | 485 | (598) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (148) | (23) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 1,605 | (716) | |
of which: experience (gains) / losses | [1],[2] | (972) | 142 |
Past service cost related to plan amendments | 0 | (128) | |
Curtailments | 0 | (17) | |
Benefit payments | (860) | (900) | |
Foreign currency translation | 342 | (307) | |
At the end of the year | 19,283 | 18,645 | |
UBS AG | Total | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 19,972 | 21,122 | |
Plan participant contributions | 149 | 137 | |
Benefit payments | (860) | (900) | |
Return on plan assets excluding amounts included in interest income | [2] | 403 | (647) |
Interest income | 278 | 238 | |
Employer contributions | 550 | 360 | |
Administration expenses, taxes and premiums paid | (9) | (10) | |
Foreign currency translation | 381 | (328) | |
At the end of the year | 20,864 | 19,972 | |
UBS AG | Total | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,998 | 1,990 | |
Interest expense on asset ceiling effect | 18 | 14 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 46 | 30 | |
Foreign currency translation | 36 | (36) | |
At the end of the year | 2,099 | 1,998 | |
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 | 9,854 | ||
At the end of the year | 9,577 | 9,854 | |
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 | 2,040 | ||
At the end of the year | 2,233 | 2,040 | |
UBS AG | Total | of which: amounts owed to retirees | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 6,751 | ||
At the end of the year | 7,472 | 6,751 | |
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 | 61 | 263 | |
Past service cost related to plan amendments | 0 | 132 | |
Return on plan assets excluding amounts included in interest income | (30) | (434) | |
Employer contributions | 271 | 308 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (46) | (30) | |
Foreign currency translation | (8) | 0 | |
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 | 13,774 | 14,398 | |
Current service cost | 243 | 251 | |
Interest expense | 122 | 93 | |
Plan participant contributions | 149 | 137 | |
Remeasurement of defined benefit obligation | (61) | (263) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (125) | 0 | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 1,006 | (391) | |
of which: experience (gains) / losses | [1],[2] | (942) | 128 |
Past service cost related to plan amendments | 0 | (132) | |
Curtailments | 0 | (17) | |
Benefit payments | (624) | (586) | |
Foreign currency translation | 206 | (108) | |
At the end of the year | 13,809 | 13,774 | |
UBS AG | Swiss plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 15,772 | 16,388 | |
Plan participant contributions | 149 | 137 | |
Benefit payments | (624) | (586) | |
Return on plan assets excluding amounts included in interest income | [2] | (30) | (434) |
Interest income | 142 | 109 | |
Employer contributions | 271 | 308 | |
Administration expenses, taxes and premiums paid | (7) | (7) | |
Foreign currency translation | 235 | (144) | |
At the end of the year | 15,908 | 15,772 | |
UBS AG | Swiss plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,998 | 1,990 | |
Interest expense on asset ceiling effect | 18 | 14 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 46 | 30 | |
Foreign currency translation | 36 | (36) | |
At the end of the year | 2,099 | 1,998 | |
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 | 7,394 | ||
At the end of the year | 6,735 | 7,394 | |
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 | 6,380 | ||
At the end of the year | 7,073 | 6,380 | |
UBS AG | UK plan | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (160) | (275) | |
Remeasurement of defined benefit obligation | (361) | 266 | |
Past service cost related to plan amendments | 0 | (4) | |
Return on plan assets excluding amounts included in interest income | 284 | (136) | |
Employer contributions | 242 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Foreign currency translation | 2 | (4) | |
At the end of the year | 4 | (160) | |
UBS AG | UK plan | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,192 | 3,744 | |
Current service cost | 0 | 0 | |
Interest expense | 92 | 93 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of defined benefit obligation | 361 | (266) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | (26) | (18) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 421 | (257) | |
of which: experience (gains) / losses | [1],[2] | (34) | 8 |
Past service cost related to plan amendments | 0 | 4 | |
Curtailments | 0 | 0 | |
Benefit payments | (135) | (202) | |
Foreign currency translation | 144 | (181) | |
At the end of the year | 3,654 | 3,192 | |
UBS AG | UK plan | Fair value of plan assets | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 3,032 | 3,469 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (135) | (202) | |
Return on plan assets excluding amounts included in interest income | [2] | 284 | (136) |
Interest income | 89 | 86 | |
Employer contributions | 242 | 0 | |
Administration expenses, taxes and premiums paid | 0 | 0 | |
Foreign currency translation | 146 | (185) | |
At the end of the year | 3,658 | 3,032 | |
UBS AG | UK plan | Asset ceiling effect | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 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 | |
Foreign currency translation | 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 | 1,612 | ||
At the end of the year | 1,931 | 1,612 | |
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 | 1,434 | ||
At the end of the year | 1,559 | 1,434 | |
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 | 146 | ||
At the end of the year | 164 | 146 | |
UBS AG | US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | (511) | (550) | |
Remeasurement of defined benefit obligation | (185) | 69 | |
Past service cost related to plan amendments | 0 | 0 | |
Return on plan assets excluding amounts included in interest income | 150 | (77) | |
Employer contributions | 38 | 51 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Foreign currency translation | 8 | 18 | |
At the end of the year | (521) | (511) | |
UBS AG | US and German plans | Defined benefit obligation | |||
Disclosure Of Net Defined Benefit Liability Asset [Line Items] | |||
At the beginning of the year | 1,679 | 1,816 | |
Current service cost | 6 | 7 | |
Interest expense | 59 | 55 | |
Plan participant contributions | 0 | 0 | |
Remeasurement of defined benefit obligation | 185 | (69) | |
of which: actuarial (gains) / losses due to changes in demographic assumptions | 3 | (5) | |
of which: actuarial (gains) / losses due to changes in financial assumptions | 179 | (69) | |
of which: experience (gains) / losses | [1],[2] | 4 | 5 |
Past service cost related to plan amendments | 0 | 0 | |
Curtailments | 0 | 0 | |
Benefit payments | (102) | (112) | |
Foreign currency translation | (8) | (18) | |
At the end of the year | 1,820 | 1,679 | |
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 | 1,168 | 1,265 | |
Plan participant contributions | 0 | 0 | |
Benefit payments | (102) | (112) | |
Return on plan assets excluding amounts included in interest income | [2] | 150 | (77) |
Interest income | 47 | 44 | |
Employer contributions | 38 | 51 | |
Administration expenses, taxes and premiums paid | (2) | (3) | |
Foreign currency translation | 0 | 0 | |
At the end of the year | 1,299 | 1,168 | |
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 | |
Interest expense on asset ceiling effect | 0 | 0 | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | 0 | 0 | |
Foreign currency translation | 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 | 847 | ||
At the end of the year | 911 | 847 | |
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 | 606 | ||
At the end of the year | 675 | 606 | |
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 | 226 | ||
At the end of the year | $ 235 | $ 226 | |
[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] | Includes the effect from employees transferring between UBS AG and UBS Business Solutions during the period. |
Defined benefit plans (Detail_2
Defined benefit plans (Detail 4.2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | $ (146) | $ (220) | $ 286 |
Total | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (671) | (825) | |
Net periodic expenses recognized in net profit | (440) | (186) | |
Gains / (losses) recognized in other comprehensive income, before tax | (135) | (230) | 253 |
Employer contributions | 732 | 556 | |
Foreign currency translation | (3) | 14 | |
At the end of the year | (518) | (671) | (825) |
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 | (417) | (153) | |
Gains / (losses) recognized in other comprehensive income, before tax | (22) | (352) | (79) |
Employer contributions | 452 | 505 | |
Foreign currency translation | (13) | 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 | (160) | (275) | |
Net periodic expenses recognized in net profit | (3) | (11) | |
Gains / (losses) recognized in other comprehensive income, before tax | (78) | 130 | 304 |
Employer contributions | 242 | 0 | |
Foreign currency translation | 2 | (4) | |
At the end of the year | 4 | (160) | (275) |
US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (511) | (550) | |
Net periodic expenses recognized in net profit | (21) | (22) | |
Gains / (losses) recognized in other comprehensive income, before tax | (35) | (8) | 28 |
Employer contributions | 38 | 51 | |
Foreign currency translation | 8 | 18 | |
At the end of the year | (521) | (511) | (550) |
UBS AG | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
Gains / (losses) recognized in other comprehensive income, before tax | (129) | (70) | 308 |
UBS AG | Total | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (671) | (825) | |
Net periodic expenses recognized in net profit | (271) | (141) | |
Gains / (losses) recognized in other comprehensive income, before tax | (128) | (79) | 276 |
Employer contributions | 550 | 360 | |
Foreign currency translation | 2 | 14 | |
At the end of the year | (518) | (671) | (825) |
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 | (248) | (108) | |
Gains / (losses) recognized in other comprehensive income, before tax | (15) | (201) | (56) |
Employer contributions | 271 | 308 | |
Foreign currency translation | (8) | 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 | (160) | (275) | |
Net periodic expenses recognized in net profit | (3) | (11) | |
Gains / (losses) recognized in other comprehensive income, before tax | (78) | 130 | 304 |
Employer contributions | 242 | 0 | |
Foreign currency translation | 2 | (4) | |
At the end of the year | 4 | (160) | (275) |
UBS AG | US and German plans | |||
Disclosure Of Net Defined Benefit Liability Asset On Balance Sheet [Line Items] | |||
At the beginning of the year | (511) | (550) | |
Net periodic expenses recognized in net profit | (21) | (22) | |
Gains / (losses) recognized in other comprehensive income, before tax | (35) | (8) | 28 |
Employer contributions | 38 | 51 | |
Foreign currency translation | 8 | 18 | |
At the end of the year | $ (521) | $ (511) | $ (550) |
Defined benefit plans (Detail_3
Defined benefit plans (Detail 4.3) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Total | |||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||||
Defined benefit obligation from funded plans | $ 29,469 | $ 26,976 | |||
Defined benefit obligation from unfunded plans | 501 | 460 | |||
Plan assets | 33,176 | 30,039 | |||
Surplus / (deficit) | 3,206 | 2,603 | |||
Asset ceiling effect | 3,724 | 3,274 | |||
Net defined benefit asset / (liability) | (518) | (671) | $ (825) | ||
Swiss plan | |||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||||
Defined benefit obligation from funded plans | 24,496 | 22,566 | |||
Defined benefit obligation from unfunded plans | 0 | 0 | |||
Plan assets | [1] | 28,219 | 25,839 | ||
Surplus / (deficit) | 3,724 | 3,274 | |||
Asset ceiling effect | 3,724 | 3,274 | |||
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 | 3,654 | 3,192 | |||
Defined benefit obligation from unfunded plans | 0 | 0 | |||
Plan assets | 3,658 | 3,032 | |||
Surplus / (deficit) | 4 | (160) | |||
Asset ceiling effect | 0 | 0 | |||
Net defined benefit asset / (liability) | 4 | (160) | (275) | ||
US and German plans | |||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||||
Defined benefit obligation from funded plans | 1,319 | 1,219 | |||
Defined benefit obligation from unfunded plans | 501 | 460 | |||
Plan assets | 1,299 | 1,168 | |||
Surplus / (deficit) | (521) | (511) | |||
Asset ceiling effect | 0 | 0 | |||
Net defined benefit asset / (liability) | (521) | (511) | (550) | ||
UBS AG | Total | |||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||||
Defined benefit obligation from funded plans | 18,782 | 18,184 | |||
Defined benefit obligation from unfunded plans | 501 | 460 | |||
Plan assets | 20,864 | 19,972 | |||
Surplus / (deficit) | 1,582 | 1,327 | |||
Asset ceiling effect | 2,099 | 1,998 | |||
Net defined benefit asset / (liability) | (518) | (671) | (825) | ||
UBS AG | Swiss plan | |||||
Disclosure Of Net Defined Benefit Liability Asset By Funded And Unfunded [Line Items] | |||||
Defined benefit obligation from funded plans | 13,809 | 13,774 | |||
Defined benefit obligation from unfunded plans | 0 | 0 | |||
Plan assets | 15,908 | 15,772 | [2] | ||
Surplus / (deficit) | 2,099 | 1,998 | |||
Asset ceiling effect | 2,099 | 1,998 | |||
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 | 3,654 | 3,192 | |||
Defined benefit obligation from unfunded plans | 0 | 0 | |||
Plan assets | 3,658 | 3,032 | |||
Surplus / (deficit) | 4 | (160) | |||
Asset ceiling effect | 0 | 0 | |||
Net defined benefit asset / (liability) | 4 | (160) | (275) | ||
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 | 1,319 | 1,219 | |||
Defined benefit obligation from unfunded plans | 501 | 460 | |||
Plan assets | 1,299 | 1,168 | |||
Surplus / (deficit) | (521) | (511) | |||
Asset ceiling effect | 0 | 0 | |||
Net defined benefit asset / (liability) | $ (521) | $ (511) | $ (550) | ||
[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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Net periodic expenses recognized in net profit | $ 461 | $ 188 | $ 481 | |
Major pension plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 415 | 413 | ||
Interest expense related to defined benefit obligation | 351 | 299 | ||
Interest income related to plan assets | (369) | (306) | ||
Interest expense on asset ceiling effect | 30 | 23 | ||
Administration expenses, taxes and premiums paid | 13 | 14 | ||
Past service cost related to plan amendments | 0 | (237) | ||
Curtailments | 0 | (20) | ||
Net periodic expenses recognized in net profit | 440 | 186 | 460 | |
Swiss plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 409 | 405 | ||
Interest expense related to defined benefit obligation | 200 | 151 | ||
Interest income related to plan assets | (233) | (177) | ||
Interest expense on asset ceiling effect | 30 | 23 | ||
Administration expenses, taxes and premiums paid | 11 | 11 | ||
Past service cost related to plan amendments | 0 | (241) | ||
Curtailments | 0 | (20) | ||
Net periodic expenses recognized in net profit | [1] | 417 | 153 | 414 |
UK plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 0 | 0 | ||
Interest expense related to defined benefit obligation | 92 | 93 | ||
Interest income related to plan assets | (89) | (86) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 0 | 0 | ||
Past service cost related to plan amendments | 0 | 4 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 3 | 11 | 15 | |
US and German plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 6 | 7 | ||
Interest expense related to defined benefit obligation | 59 | 55 | ||
Interest income related to plan assets | (47) | (44) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 2 | 3 | ||
Past service cost related to plan amendments | 0 | 0 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 21 | 22 | 31 | |
UBS AG | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Net periodic expenses recognized in net profit | 291 | 140 | 365 | |
UBS AG | Major pension plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 249 | 258 | ||
Interest expense related to defined benefit obligation | 273 | 241 | ||
Interest income related to plan assets | (278) | (238) | ||
Interest expense on asset ceiling effect | 18 | 14 | ||
Administration expenses, taxes and premiums paid | 9 | 10 | ||
Past service cost related to plan amendments | 0 | (128) | ||
Curtailments | 0 | (17) | ||
Net periodic expenses recognized in net profit | 271 | 141 | 354 | |
UBS AG | Swiss plan | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 243 | 251 | ||
Interest expense related to defined benefit obligation | 122 | 93 | ||
Interest income related to plan assets | (142) | (109) | ||
Interest expense on asset ceiling effect | 18 | 14 | ||
Administration expenses, taxes and premiums paid | 7 | 7 | ||
Past service cost related to plan amendments | 0 | (132) | ||
Curtailments | 0 | (17) | ||
Net periodic expenses recognized in net profit | [1] | 248 | 108 | 307 |
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 | 92 | 93 | ||
Interest income related to plan assets | (89) | (86) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 0 | 0 | ||
Past service cost related to plan amendments | 0 | 4 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | 3 | 11 | 15 | |
UBS AG | US and German plans | ||||
Postemployment Benefit Expense Defined Benefit Pension Plans [Line Items] | ||||
Current service cost | 6 | 7 | ||
Interest expense related to defined benefit obligation | 59 | 55 | ||
Interest income related to plan assets | (47) | (44) | ||
Interest expense on asset ceiling effect | 0 | 0 | ||
Administration expenses, taxes and premiums paid | 2 | 3 | ||
Past service cost related to plan amendments | 0 | 0 | ||
Curtailments | 0 | 0 | ||
Net periodic expenses recognized in net profit | $ 21 | $ 22 | $ 31 | |
[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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
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 | $ (146) | $ (220) | $ 286 |
Total | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | (2,275) | 577 | |
Return on plan assets excluding amounts included in interest income | 2,492 | (736) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (353) | (71) | |
Total gains / (losses) recognized in other comprehensive income, before tax | (135) | (230) | 253 |
Swiss plan | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | (1,728) | 242 | |
Return on plan assets excluding amounts included in interest income | 2,059 | (523) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (353) | (71) | |
Total gains / (losses) recognized in other comprehensive income, before tax | (22) | (352) | (79) |
UK plan | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | (361) | 266 | |
Return on plan assets excluding amounts included in interest income | 284 | (136) | |
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 | (78) | 130 | 304 |
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 | (185) | 69 | |
Return on plan assets excluding amounts included in interest income | 150 | (77) | |
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 | (35) | (8) | 28 |
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 | (129) | (70) | 308 |
UBS AG | Total | |||
Other Comprehensive Income Before Tax Gains Losses On Remeasurements Of Defined Benefit Pension Plans [Line Items] | |||
Remeasurement of defined benefit obligation | (485) | 598 | |
Return on plan assets excluding amounts included in interest income | 403 | (647) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (46) | (30) | |
Total gains / (losses) recognized in other comprehensive income, before tax | (128) | (79) | 276 |
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 | 61 | 263 | |
Return on plan assets excluding amounts included in interest income | (30) | (434) | |
Asset ceiling effect excluding interest expense and foreign currency translation on asset ceiling effect | (46) | (30) | |
Total gains / (losses) recognized in other comprehensive income, before tax | (15) | (201) | (56) |
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 | (361) | 266 | |
Return on plan assets excluding amounts included in interest income | 284 | (136) | |
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 | (78) | 130 | 304 |
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 | (185) | 69 | |
Return on plan assets excluding amounts included in interest income | 150 | (77) | |
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 | $ (35) | $ (8) | $ 28 |
Defined benefit plans (Detail 6
Defined benefit plans (Detail 6) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)yr | Dec. 31, 2018USD ($)yr | ||
Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 14.9 | 14.5 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | $ 1,232 | $ 1,153 | |
Benefits expected to be paid between 1 and 3 years | 2,483 | 2,356 | |
Benefits expected to be paid between 3 and 6 years | 3,670 | 3,554 | |
Benefits expected to be paid between 6 and 11 years | 5,761 | 5,643 | |
Benefits expected to be paid between 11 and 16 years | 5,070 | 5,142 | |
Benefits expected to be paid in more than 16 years | $ 15,517 | $ 16,792 | |
UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 20.2 | 19.5 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | $ 93 | $ 82 | |
Benefits expected to be paid between 1 and 3 years | 209 | 187 | |
Benefits expected to be paid between 3 and 6 years | 384 | 345 | |
Benefits expected to be paid between 6 and 11 years | 748 | 701 | |
Benefits expected to be paid between 11 and 16 years | 807 | 770 | |
Benefits expected to be paid in more than 16 years | $ 3,913 | $ 3,927 | |
US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | [1] | 10.1 | 9.8 |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | [1] | $ 121 | $ 108 |
Benefits expected to be paid between 1 and 3 years | [1] | 228 | 216 |
Benefits expected to be paid between 3 and 6 years | [1] | 346 | 336 |
Benefits expected to be paid between 6 and 11 years | [1] | 548 | 566 |
Benefits expected to be paid between 11 and 16 years | [1] | 455 | 494 |
Benefits expected to be paid in more than 16 years | [1] | $ 721 | $ 798 |
UBS AG | Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 15.2 | 14.5 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | $ 687 | $ 704 | |
Benefits expected to be paid between 1 and 3 years | 1,383 | 1,439 | |
Benefits expected to be paid between 3 and 6 years | 2,048 | 2,170 | |
Benefits expected to be paid between 6 and 11 years | 3,232 | 3,446 | |
Benefits expected to be paid between 11 and 16 years | 2,899 | 3,140 | |
Benefits expected to be paid in more than 16 years | $ 9,136 | $ 10,253 | |
UBS AG | UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | 20.2 | 19.5 | |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | $ 93 | $ 82 | |
Benefits expected to be paid between 1 and 3 years | 209 | 187 | |
Benefits expected to be paid between 3 and 6 years | 384 | 345 | |
Benefits expected to be paid between 6 and 11 years | 748 | 701 | |
Benefits expected to be paid between 11 and 16 years | 807 | 770 | |
Benefits expected to be paid in more than 16 years | $ 3,913 | $ 3,927 | |
UBS AG | US and German plans | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Duration of the defined benefit obligation (in years) | yr | [1] | 10.1 | 9.8 |
Maturity analysis of benefits expected to be paid | |||
Benefits expected to be paid within 12 months | [1] | $ 121 | $ 108 |
Benefits expected to be paid between 1 and 3 years | [1] | 228 | 216 |
Benefits expected to be paid between 3 and 6 years | [1] | 346 | 336 |
Benefits expected to be paid between 6 and 11 years | [1] | 548 | 566 |
Benefits expected to be paid between 11 and 16 years | [1] | 455 | 494 |
Benefits expected to be paid in more than 16 years | [1] | $ 721 | $ 798 |
[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, 2019 | Dec. 31, 2018 | |
Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 0.29% | 0.92% | |
Rate of salary increase | 1.50% | 1.50% | |
Rate of pension increase | 0.00% | 0.00% | |
Rate of interest credit on retirement savings | 0.49% | 0.92% | |
UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 2.07% | 2.90% | |
Rate of salary increase | 0.00% | 0.00% | |
Rate of pension increase | 2.92% | 3.10% | |
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] | 2.58% | 3.69% |
Rate of salary increase | [1] | 2.37% | 2.81% |
Rate of pension increase | [1] | 1.80% | 1.50% |
Rate of interest credit on retirement savings | [1] | 2.57% | 3.70% |
UBS AG | Swiss plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 0.29% | 0.92% | |
Rate of salary increase | 1.50% | 1.50% | |
Rate of pension increase | 0.00% | 0.00% | |
Rate of interest credit on retirement savings | 0.49% | 0.92% | |
UBS AG | UK plan | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Discount rate | 2.07% | 2.90% | |
Rate of salary increase | 0.00% | 0.00% | |
Rate of pension increase | 2.92% | 3.10% | |
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] | 2.58% | 3.69% |
Rate of salary increase | [1] | 2.37% | 2.81% |
Rate of pension increase | [1] | 1.80% | 1.50% |
Rate of interest credit on retirement savings | [1] | 2.57% | 3.70% |
[1] | Represents weighted average assumptions across US and German plans. |
Defined benefit plans (Detail 8
Defined benefit plans (Detail 8) | Dec. 31, 2019 | Dec. 31, 2018 | |
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 | 23.6 | 23.5 | |
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 | 23.1 | |
Life expectancy at age 65 for a female member currently | 25.1 | 25 | |
UK | aged 65 | Mortality table UK | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | [1] | 23.3 | 23.4 |
Life expectancy at age 65 for a female member currently | [1] | 25.1 | 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] | 24.5 | 24.6 |
Life expectancy at age 65 for a female member currently | [1] | 26.4 | 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 | 24.3 |
Life expectancy at age 65 for a female member currently | [2] | 25.9 | 26 |
Germany | aged 65 | Mortality table Germany | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 20.7 | 20.5 | |
Life expectancy at age 65 for a female member currently | 24.2 | 24.1 | |
Germany | aged 45 | Mortality table Germany | |||
Disclosure Of Defined Benefit Plans [Line Items] | |||
Life expectancy at age 65 for a male member currently | 23.5 | 23.3 | |
Life expectancy at age 65 for a female member currently | 26.4 | 26.3 | |
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 | 23.6 | 23.5 | |
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 | 23.1 | |
Life expectancy at age 65 for a female member currently | 25.1 | 25 | |
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] | 23.3 | 23.4 |
Life expectancy at age 65 for a female member currently | [1] | 25.1 | 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] | 24.5 | 24.6 |
Life expectancy at age 65 for a female member currently | [1] | 26.4 | 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 | 24.3 |
Life expectancy at age 65 for a female member currently | [2] | 25.9 | 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 | 20.7 | 20.5 | |
Life expectancy at age 65 for a female member currently | 24.2 | 24.1 | |
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 | 23.5 | 23.3 | |
Life expectancy at age 65 for a female member currently | 26.4 | 26.3 | |
[1] | In 2018, the mortality table S2PA with CMI 2017 projections was used | ||
[2] | In 2018, the mortality table RP2014 WCHA with MP2018 projection scale was used. |
Defined benefit plans (Detail 9
Defined benefit plans (Detail 9) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Swiss plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | $ (1,505) | $ (1,327) |
Decrease by 50 basis points | [1] | 1,710 | 1,503 |
Swiss plan | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 76 | 68 |
Decrease by 50 basis points | [1] | (73) | (65) |
Swiss plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 1,221 | 1,090 |
Swiss plan | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 175 | 231 |
Decrease by 50 basis points | [1] | $ (102) | (219) |
Portion of retirement savings subject to legal minimum interest rate | 21.00% | ||
Legal minimum interest rate on retirement savings | 1.00% | ||
Swiss plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | $ 886 | 751 |
UK plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (346) | (292) |
Decrease by 50 basis points | [1] | 395 | 333 |
UK plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 331 | 260 |
Decrease by 50 basis points | [1] | (299) | (262) |
UK plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 154 | 122 |
US and German plans | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (86) | (77) |
Decrease by 50 basis points | [1] | 93 | 84 |
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] | 7 | 6 |
Decrease by 50 basis points | [1] | (7) | (6) |
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] | 51 | 42 |
UBS AG | Swiss plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (853) | (797) |
Decrease by 50 basis points | [1] | 972 | 904 |
UBS AG | Swiss plan | Rate of salary increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 49 | 45 |
Decrease by 50 basis points | [1] | (47) | (43) |
UBS AG | Swiss plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 673 | 643 |
UBS AG | Swiss plan | Rate of interest credit on retirement savings | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 107 | 141 |
Decrease by 50 basis points | [1] | $ (62) | (134) |
Portion of retirement savings subject to legal minimum interest rate | 18.50% | ||
Legal minimum interest rate on retirement savings | 1.00% | ||
UBS AG | Swiss plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | $ 459 | 446 |
UBS AG | UK plan | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (346) | (292) |
Decrease by 50 basis points | [1] | 395 | 333 |
UBS AG | UK plan | Rate of pension increase | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | 331 | 260 |
Decrease by 50 basis points | [1] | (299) | (262) |
UBS AG | UK plan | Life expectancy | |||
Increase / (decrease) in defined benefit obligation | |||
Increase in longevity by one additional year | [1] | 154 | 122 |
UBS AG | US and German plans | Discount rate | |||
Increase / (decrease) in defined benefit obligation | |||
Increase by 50 basis points | [1] | (86) | (77) |
Decrease by 50 basis points | [1] | 93 | 84 |
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] | 7 | 6 |
Decrease by 50 basis points | [1] | (7) | (6) |
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] | $ 51 | $ 42 |
[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, 2019 | Dec. 31, 2018 | ||
Total | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 33,176 | $ 30,039 | ||
Swiss plan | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [1] | $ 28,219 | $ 25,839 | |
Plan asset allocation % | 100.00% | 100.00% | ||
Swiss plan | Cash and cash equivalents | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 159 | $ 137 | ||
Plan asset allocation % | 1.00% | 1.00% | ||
Swiss plan | Real estate / property - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 3,050 | $ 2,963 | ||
Plan asset allocation % | 11.00% | 11.00% | ||
Swiss plan | Real estate / property - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 160 | $ 0 | ||
Plan asset allocation % | 1.00% | 0.00% | ||
Swiss plan | Investment funds - Equity - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 701 | $ 628 | ||
Plan asset allocation % | 2.00% | 2.00% | ||
Swiss plan | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 7,743 | $ 7,237 | ||
Plan asset allocation % | 27.00% | 28.00% | ||
Swiss plan | Investment funds - Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 3,238 | $ 2,570 | ||
Plan asset allocation % | 11.00% | 10.00% | ||
Swiss plan | Investment funds - Bonds - Foreign, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 5,880 | $ 6,194 | |
Plan asset allocation % | [2] | 21.00% | 24.00% | |
Swiss plan | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 999 | $ 892 | |
Plan asset allocation % | [2] | 4.00% | 3.00% | |
Swiss plan | Investment funds - Real estate - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 0 | $ 11 | ||
Plan asset allocation % | 0.00% | 0.00% | ||
Swiss plan | Investment funds - Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 5,560 | $ 4,659 | ||
Plan asset allocation % | 20.00% | 18.00% | ||
Swiss plan | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 729 | $ 549 | ||
Plan asset allocation % | 3.00% | 2.00% | ||
Swiss plan | Quoted in active market | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 19,206 | $ 17,190 | ||
Swiss plan | Quoted in active market | Cash and cash equivalents | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 159 | 137 | ||
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 | Real estate / property - Foreign | ||||
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 | 701 | 628 | ||
Swiss plan | Quoted in active market | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 6,091 | 5,721 | ||
Swiss plan | Quoted in active market | Investment funds - Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 3,238 | 2,570 | ||
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] | 5,880 | 6,194 | |
Swiss plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 999 | 892 | |
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 | 1,604 | 518 | ||
Swiss plan | Quoted in active market | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 535 | 531 | ||
Swiss plan | Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 9,014 | 8,649 | ||
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 | 3,050 | 2,963 | ||
Swiss plan | Other | Real estate / property - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 160 | 0 | ||
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 | 1,653 | 1,515 | ||
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 | 0 | 11 | ||
Swiss plan | Other | Investment funds - Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 3,956 | 4,142 | ||
Swiss plan | Other | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 194 | 18 | ||
UK plan | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 3,658 | $ 3,032 | ||
Plan asset allocation % | 100.00% | 100.00% | ||
UK plan | Cash and cash equivalents | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 141 | $ 143 | ||
Plan asset allocation % | 4.00% | 5.00% | ||
UK plan | Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 1,810 | $ 1,604 | |
Plan asset allocation % | [2] | 49.00% | 53.00% | |
UK plan | Investment funds - Equity - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 33 | $ 26 | ||
Plan asset allocation % | 1.00% | 1.00% | ||
UK plan | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 916 | $ 658 | ||
Plan asset allocation % | 25.00% | 22.00% | ||
UK plan | Investment funds - Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 727 | $ 680 | |
Plan asset allocation % | [2] | 20.00% | 22.00% | |
UK plan | Investment funds - Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 22 | $ 15 | |
Plan asset allocation % | [2] | 1.00% | 0.00% | |
UK plan | Investment funds - Bonds - Foreign, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 310 | $ 258 | |
Plan asset allocation % | [2] | 8.00% | 9.00% | |
UK plan | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 108 | $ 51 | |
Plan asset allocation % | [2] | 3.00% | 2.00% | |
UK plan | Investment funds - Real estate - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 122 | $ 131 | ||
Plan asset allocation % | 3.00% | 4.00% | ||
UK plan | Investment funds - Real estate - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 19 | $ 0 | ||
Plan asset allocation % | 1.00% | 0.00% | ||
UK plan | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 7 | $ 0 | ||
Plan asset allocation % | 0.00% | 0.00% | ||
UK plan | Derivative financial instruments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 3 | $ 0 | ||
Plan asset allocation % | 0.00% | 0.00% | ||
UK plan | Asset-backed securities | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 6 | $ 22 | ||
Plan asset allocation % | 0.00% | 1.00% | ||
UK plan | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [3] | $ (565) | $ (556) | |
Plan asset allocation % | [3] | (15.00%) | (18.00%) | |
UK plan | Quoted in active market | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 3,483 | $ 2,900 | ||
UK plan | Quoted in active market | Cash and cash equivalents | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 141 | 143 | ||
UK plan | Quoted in active market | Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 1,810 | 1,604 | |
UK plan | Quoted in active market | Investment funds - Equity - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 33 | 26 | ||
UK plan | Quoted in active market | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 916 | 658 | ||
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] | 610 | 587 | |
UK plan | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 22 | 15 | |
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] | 310 | 258 | |
UK plan | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 108 | 51 | |
UK plan | Quoted in active market | Investment funds - Real estate - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 103 | 102 | ||
UK plan | Quoted in active market | Investment funds - Real estate - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | 0 | ||
UK plan | Quoted in active market | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | 0 | ||
UK plan | Quoted in active market | Derivative financial instruments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 3 | 0 | ||
UK plan | Quoted in active market | Asset-backed securities | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | 21 | ||
UK plan | Quoted in active market | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [3] | (572) | (565) | |
UK plan | Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 175 | 132 | ||
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 | 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] | 117 | 93 | |
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 | 18 | 28 | ||
UK plan | Other | Investment funds - Real estate - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 19 | 0 | ||
UK plan | Other | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 7 | 0 | ||
UK plan | Other | Derivative financial instruments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | 0 | ||
UK plan | Other | Asset-backed securities | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 6 | 2 | ||
UK plan | Other | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [3] | 7 | 9 | |
US and German plans | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 1,299 | 1,168 | ||
US plans | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 1,299 | $ 1,168 | ||
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 | $ 27 | ||
Plan asset allocation % | 2.00% | 2.00% | ||
US plans | Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 475 | $ 462 | |
Plan asset allocation % | [2] | 37.00% | 40.00% | |
US plans | Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 2 | $ 2 | |
Plan asset allocation % | [2] | 0.00% | 0.00% | |
US plans | Bonds - Foreign, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 99 | $ 92 | |
Plan asset allocation % | [2] | 8.00% | 8.00% | |
US plans | Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 3 | $ 3 | |
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 | $ 208 | $ 143 | ||
Plan asset allocation % | 16.00% | 12.00% | ||
US plans | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 161 | $ 157 | ||
Plan asset allocation % | 12.00% | 13.00% | ||
US plans | Investment funds - Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 176 | $ 104 | |
Plan asset allocation % | [2] | 14.00% | 9.00% | |
US plans | Investment funds - Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 28 | $ 23 | |
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] | $ 17 | $ 56 | |
Plan asset allocation % | [2] | 1.00% | 5.00% | |
US plans | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 3 | $ 6 | |
Plan asset allocation % | [2] | 0.00% | 1.00% | |
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 | $ 69 | $ 64 | ||
Plan asset allocation % | 5.00% | 5.00% | ||
US plans | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 18 | $ 17 | ||
Plan asset allocation % | 1.00% | 1.00% | ||
US plans | Quoted in active market | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 1,268 | $ 1,139 | ||
US plans | Quoted in active market | Cash and cash equivalents | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 27 | 27 | ||
US plans | Quoted in active market | Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 475 | 462 | |
US plans | Quoted in active market | Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 2 | 2 | |
US plans | Quoted in active market | Bonds - Foreign, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 99 | 92 | |
US plans | Quoted in active market | Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 3 | 3 | |
US plans | Quoted in active market | Investment funds - Equity - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 208 | 143 | ||
US plans | Quoted in active market | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 161 | 157 | ||
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] | 176 | 104 | |
US plans | Quoted in active market | Investment funds - Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 28 | 23 | |
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] | 17 | 56 | |
US plans | Quoted in active market | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | 3 | 6 | |
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 | 69 | 64 | ||
US plans | Quoted in active market | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | 0 | ||
US plans | Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 31 | 29 | ||
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 | 18 | 17 | ||
UBS AG | Total | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 20,864 | 19,972 | ||
UBS AG | Swiss plan | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 15,908 | $ 15,772 | [4] | |
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 | $ 90 | $ 83 | ||
Plan asset allocation % | 1.00% | 1.00% | ||
UBS AG | Swiss plan | Real estate / property - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 1,720 | $ 1,808 | ||
Plan asset allocation % | 11.00% | 11.00% | ||
UBS AG | Swiss plan | Real estate / property - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 90 | $ 0 | ||
Plan asset allocation % | 1.00% | 0.00% | ||
UBS AG | Swiss plan | Investment funds - Equity - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 395 | $ 383 | ||
Plan asset allocation % | 2.00% | 2.00% | ||
UBS AG | Swiss plan | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 4,365 | $ 4,417 | ||
Plan asset allocation % | 27.00% | 28.00% | ||
UBS AG | Swiss plan | Investment funds - Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 1,825 | $ 1,569 | |
Plan asset allocation % | [2] | 11.00% | 10.00% | |
UBS AG | Swiss plan | Investment funds - Bonds - Foreign, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 3,315 | $ 3,781 | |
Plan asset allocation % | [2] | 21.00% | 24.00% | |
UBS AG | Swiss plan | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 563 | $ 544 | |
Plan asset allocation % | [2] | 4.00% | 3.00% | |
UBS AG | Swiss plan | Investment funds - Real estate - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 0 | $ 7 | ||
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 | $ 3,134 | $ 2,844 | ||
Plan asset allocation % | 20.00% | 18.00% | ||
UBS AG | Swiss plan | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 411 | $ 335 | ||
Plan asset allocation % | 3.00% | 2.00% | ||
UBS AG | Swiss plan | Quoted in active market | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 10,827 | $ 10,493 | ||
UBS AG | Swiss plan | Quoted in active market | Cash and cash equivalents | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 90 | 83 | ||
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 | Real estate / property - Foreign | ||||
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 | 395 | 383 | ||
UBS AG | Swiss plan | Quoted in active market | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 3,433 | 3,492 | ||
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 | [2] | 1,825 | 1,569 | |
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] | 3,315 | 3,781 | |
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] | 563 | 544 | |
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 | 904 | 316 | ||
UBS AG | Swiss plan | Quoted in active market | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 301 | 324 | ||
UBS AG | Swiss plan | Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 5,081 | 5,279 | ||
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 | 1,720 | 1,808 | ||
UBS AG | Swiss plan | Other | Real estate / property - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 90 | 0 | ||
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 | 932 | 925 | ||
UBS AG | Swiss plan | Other | Investment funds - Bonds - Domestic, 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, 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 | 0 | 7 | ||
UBS AG | Swiss plan | Other | Investment funds - Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 2,230 | 2,528 | ||
UBS AG | Swiss plan | Other | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 109 | 11 | ||
UBS AG | UK plan | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 3,658 | $ 3,032 | ||
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 | $ 141 | $ 143 | ||
Plan asset allocation % | 4.00% | 5.00% | ||
UBS AG | UK plan | Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 1,810 | $ 1,604 | |
Plan asset allocation % | [2] | 49.00% | 53.00% | |
UBS AG | UK plan | Investment funds - Equity - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 33 | $ 26 | ||
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 | $ 916 | $ 658 | ||
Plan asset allocation % | 25.00% | 22.00% | ||
UBS AG | UK plan | Investment funds - Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 727 | $ 680 | |
Plan asset allocation % | [2] | 20.00% | 22.00% | |
UBS AG | UK plan | Investment funds - Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 22 | $ 15 | |
Plan asset allocation % | [2] | 1.00% | 0.00% | |
UBS AG | UK plan | Investment funds - Bonds - Foreign, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 310 | $ 258 | |
Plan asset allocation % | [2] | 8.00% | 9.00% | |
UBS AG | UK plan | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 108 | $ 51 | |
Plan asset allocation % | [2] | 3.00% | 2.00% | |
UBS AG | UK plan | Investment funds - Real estate - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 122 | $ 131 | ||
Plan asset allocation % | 3.00% | 4.00% | ||
UBS AG | UK plan | Investment funds - Real estate - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 19 | |||
Plan asset allocation % | 1.00% | |||
UBS AG | UK plan | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 7 | |||
Plan asset allocation % | 0.00% | |||
UBS AG | UK plan | Derivative financial instruments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 3 | $ 0 | ||
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 | $ 6 | $ 22 | ||
Plan asset allocation % | 0.00% | 1.00% | ||
UBS AG | UK plan | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [3] | $ (565) | $ (556) | |
Plan asset allocation % | [3] | (15.00%) | (18.00%) | |
UBS AG | UK plan | Quoted in active market | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 3,483 | $ 2,900 | ||
UBS AG | UK plan | Quoted in active market | Cash and cash equivalents | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 141 | 143 | ||
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] | 1,810 | 1,604 | |
UBS AG | UK plan | Quoted in active market | Investment funds - Equity - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 33 | 26 | ||
UBS AG | UK plan | Quoted in active market | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 916 | 658 | ||
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] | 610 | 587 | |
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] | 22 | 15 | |
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] | 310 | 258 | |
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] | 108 | 51 | |
UBS AG | UK plan | Quoted in active market | Investment funds - Real estate - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 103 | 102 | ||
UBS AG | UK plan | Quoted in active market | Investment funds - Real estate - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | |||
UBS AG | UK plan | Quoted in active market | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | |||
UBS AG | UK plan | Quoted in active market | Derivative financial instruments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 3 | 0 | ||
UBS AG | UK plan | Quoted in active market | Asset-backed securities | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | 21 | ||
UBS AG | UK plan | Quoted in active market | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [3] | (572) | (565) | |
UBS AG | UK plan | Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 175 | 132 | ||
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 | 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] | 117 | 93 | |
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 | 18 | 28 | ||
UBS AG | UK plan | Other | Investment funds - Real estate - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 19 | |||
UBS AG | UK plan | Other | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 7 | |||
UBS AG | UK plan | Other | Derivative financial instruments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 0 | 0 | ||
UBS AG | UK plan | Other | Asset-backed securities | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 6 | 2 | ||
UBS AG | UK plan | Other | Other investments | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [3] | 7 | 9 | |
UBS AG | US and German plans | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 1,299 | 1,168 | ||
UBS AG | US plans | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 1,299 | $ 1,168 | ||
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 | $ 27 | ||
Plan asset allocation % | 2.00% | 2.00% | ||
UBS AG | US plans | Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 475 | $ 462 | |
Plan asset allocation % | [2] | 37.00% | 40.00% | |
UBS AG | US plans | Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 2 | $ 2 | |
Plan asset allocation % | [2] | 0.00% | 0.00% | |
UBS AG | US plans | Bonds - Foreign, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 99 | $ 92 | |
Plan asset allocation % | [2] | 8.00% | 8.00% | |
UBS AG | US plans | Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 3 | $ 3 | |
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 | $ 208 | $ 143 | ||
Plan asset allocation % | 16.00% | 12.00% | ||
UBS AG | US plans | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 161 | $ 157 | ||
Plan asset allocation % | 12.00% | 13.00% | ||
UBS AG | US plans | Investment funds - Bonds - Domestic, AAA to BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 176 | $ 104 | |
Plan asset allocation % | [2] | 14.00% | 9.00% | |
UBS AG | US plans | Investment funds - Bonds - Domestic, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 28 | $ 23 | |
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] | $ 17 | $ 56 | |
Plan asset allocation % | [2] | 1.00% | 5.00% | |
UBS AG | US plans | Investment funds - Bonds - Foreign, below BBB- | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | [2] | $ 3 | $ 6 | |
Plan asset allocation % | [2] | 0.00% | 1.00% | |
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 | $ 69 | $ 64 | ||
Plan asset allocation % | 5.00% | 5.00% | ||
UBS AG | US plans | Insurance contracts | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 18 | $ 17 | ||
Plan asset allocation % | 1.00% | 1.00% | ||
UBS AG | US plans | Quoted in active market | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | $ 1,268 | $ 1,139 | ||
UBS AG | US plans | Quoted in active market | Cash and cash equivalents | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 27 | 27 | ||
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] | 475 | 462 | |
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 | 2 | |
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] | 99 | 92 | |
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 | 3 | |
UBS AG | US plans | Quoted in active market | Investment funds - Equity - Domestic | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 208 | 143 | ||
UBS AG | US plans | Quoted in active market | Investment funds - Equity - Foreign | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 161 | 157 | ||
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] | 176 | 104 | |
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] | 28 | 23 | |
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] | 17 | 56 | |
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] | 3 | 6 | |
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 | 69 | 64 | ||
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 | Other | ||||
Disclosure Of Fair Value Of Plan Assets [Line Items] | ||||
Fair value | 31 | 29 | ||
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 | $ 18 | $ 17 | ||
[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, 2019 | Dec. 31, 2018 | ||
Total | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | $ 33,176 | $ 30,039 | ||
Swiss plan | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [1] | 28,219 | 25,839 | |
Derivative financial instruments, net of collateral | 6 | 10 | ||
Swiss plan | Bank accounts at UBS | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [1] | 159 | 132 | |
Swiss plan | UBS debt instruments | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [1] | 7 | 13 | |
Swiss plan | UBS shares | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [1] | 21 | 25 | |
Swiss plan | Securities lent to UBS | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [1],[2] | 1,328 | 1,567 | |
Swiss plan | Property occupied by UBS | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [1] | 88 | 88 | |
Swiss plan | Derivative financial instruments, counterparty UBS | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [1],[2] | 10 | 34 | |
UK plan | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | 3,658 | 3,032 | ||
US and German plans | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | 1,299 | 1,168 | ||
UBS AG | Total | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | 20,864 | 19,972 | ||
UBS AG | Swiss plan | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | 15,908 | 15,772 | [3] | |
Derivative financial instruments, net of collateral | 3 | 6 | ||
UBS AG | Swiss plan | Bank accounts at UBS | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [3] | 90 | 80 | |
UBS AG | Swiss plan | UBS debt instruments | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [3] | 4 | 8 | |
UBS AG | Swiss plan | UBS shares | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [3] | 12 | 15 | |
UBS AG | Swiss plan | Securities lent to UBS | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [2],[3] | 748 | 957 | |
UBS AG | Swiss plan | Property occupied by UBS | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [3] | 50 | 54 | |
UBS AG | Swiss plan | Derivative financial instruments, counterparty UBS | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | [2],[3] | 6 | 21 | |
UBS AG | UK plan | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | 3,658 | 3,032 | ||
UBS AG | US and German plans | ||||
Plan Assets At Fair Value By Plan [Line Items] | ||||
Fair value | $ 1,299 | $ 1,168 | ||
[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 2019 and 31 December 2018. Net of collateral, derivative financial instruments amounted to USD 6 million as of 31 December 2019 (31 December 2018: USD 10 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 (Narrat
Medical insurance plans (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Post Employment Medical Insurance Plans [Line Items] | |||
Net periodic expenses | $ 461 | $ 188 | $ 481 |
Post-employment medical insurance plans | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Net periodic expenses | 2 | (11) | 3 |
Post-employment medical insurance plans | 2020 | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Net periodic expenses | 5 | ||
UBS AG | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Net periodic expenses | 291 | 140 | 365 |
UBS AG | Post-employment medical insurance plans | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Net periodic expenses | 2 | $ (11) | $ 3 |
UBS AG | Post-employment medical insurance plans | 2020 | |||
Post Employment Medical Insurance Plans [Line Items] | |||
Net periodic expenses | $ 5 |
Related party disclosure (Detai
Related party disclosure (Detail 15) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Received by UBS | |||
Fees | $ 34 | $ 35 | $ 36 |
Paid by UBS | |||
Rent | 4 | 4 | 5 |
Dividends, capital repayments and interest | 11 | 10 | 10 |
UBS AG | |||
Received by UBS | |||
Fees | 19 | 22 | 36 |
Paid by UBS | |||
Rent | 2 | 3 | 5 |
Dividends, capital repayments and interest | $ 10 | $ 10 | $ 10 |
Related party disclosure (Det_2
Related party disclosure (Detail 16) - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financial instruments bought by pension funds | ||
UBS shares (in thousands of shares) | 967 | 889 |
UBS debt instruments (par values) | $ 2 | $ 13 |
Financial instruments sold by pension funds or matured | ||
UBS shares (in thousands of shares) | 1,977 | 547 |
UBS debt instruments (par values) | $ 8 | $ 3 |
UBS shares held by pension and other post-employment benefit plans | ||
Number of shares (in thousands of shares) | 15,701 | 16,712 |
Fair value | $ 198 | $ 207 |
UBS AG | ||
Financial instruments bought by pension funds | ||
UBS shares (in thousands of shares) | 929 | 831 |
UBS AG debt instruments (par values) | $ 1 | $ 9 |
Financial instruments sold by pension funds or matured | ||
UBS shares (in thousands of shares) | 1,778 | 547 |
UBS AG debt instruments (par values) | $ 5 | $ 2 |
UBS shares held by pension and other post-employment benefit plans | ||
Number of shares (in thousands of shares) | 14,991 | 15,934 |
Fair value | $ 189 | $ 197 |
Employee benefits_ variable c_3
Employee benefits: variable compensation (Narrative) (Detail 1) shares in Millions | 12 Months Ended | ||
Dec. 31, 2019CHF (SFr)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018shares | |
Equity Participation And Other Compensation Plans [Line Items] | |||
Share delivery obligations | shares | 156 | 156 | 146 |
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% | |
Description of vesting requirements for non-share-based compensation plans | DCCP awards vest in full after five years, and up to seven years for UK senior management functions, unless there is a trigger event. | DCCP awards vest in full after five years, and up to seven years for UK senior management functions, unless there is a trigger event. | |
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 other non-share-based compensation plans | In line with market practice for US wealth management businesses, the compensation for US financial advisors in Global Wealth Management is comprised of 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 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 things, errors, negligence or carelessness, or a failure to comply with the firm’s rules, standards, practices and policies or applicable laws and regulations. | In line with market practice for US wealth management businesses, the compensation for US financial advisors in Global Wealth Management is comprised of 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 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 things, errors, negligence or carelessness, or a failure to comply with the firm’s rules, standards, practices and policies or applicable laws and regulations. | |
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. | 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. | |
Description of vesting requirements for non-share-based compensation plans | 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. | 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. | |
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 exceeded defined thresholds from 2010 to 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 exceeded defined thresholds from 2010 to 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 | |
PartnerPlus | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of other non-share-based compensation plans | Through performance year 2016, financial advisor 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. | Through performance year 2016, financial advisor 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. | |
Equity Ownership Plan | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of share-based compensation plans | The EOP is a mandatory deferred share-based compensation plan for all employees with total annual compensation greater than USD / CHF 300,000. Starting with performance year 2019, GEB members, Group Managing Directors (GMDs) and Vice Chairs receive Long-Term Incentive Plan (LTIP) awards instead of EOP. EOP awards granted to GEB members and GMDs in 2019 and prior years, as well as EOP awards granted to certain other employees, will only vest if both Group and business division performance conditions are met. For awards granted in 2019 and 2020, related to the performance years 2018 and 2019, respectively, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). For awards granted in 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. 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. Awards granted generally 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 in 2018 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 compensation. 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 the granting of such awards. Awards granted to GEB members in 2019 and prior years generally vest 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. Starting with performance year 2019, GEB members, Group Managing Directors (GMDs) and Vice Chairs receive Long-Term Incentive Plan (LTIP) awards instead of EOP. EOP awards granted to GEB members and GMDs in 2019 and prior years, as well as EOP awards granted to certain other employees, will only vest if both Group and business division performance conditions are met. For awards granted in 2019 and 2020, related to the performance years 2018 and 2019, respectively, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). For awards granted in 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. 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. Awards granted generally 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 in 2018 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 compensation. 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 the granting of such awards. Awards granted to GEB members in 2019 and prior years generally vest 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 the granting of such awards. Awards granted to GEB members in 2019 and prior years generally vest after three, four and five years. | EOP awards generally vest in equal installments after two and three years following the granting of such awards. Awards granted to GEB members in 2019 and prior years generally vest after three, four and five years. | |
Long-Term Incentive Plan | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of share-based compensation plans | The LTIP is a mandatory deferred share-based compensation plan for senior leaders of the Group (i.e., GEB members, GMDs and Vice Chairs). LTIP awards are granted for the first time in 2020 as part of the performance award pool for 2019. The final number of notional shares delivered at vesting depends on two equally weighted performance metrics: average reported return on CET1 capital (RoCET1) and relative total shareholder return (rTSR), which measures UBS's total shareholder return against an index consisting of global systemically important banks as determined by the Financial Stability Board. These performance metrics are separately valued as of the date of grant and (re-)assessed over a three-year performance period starting in the year of grant. For both metrics there is a threshold level, which would result in a 33% payout, and a maximum level, which would result in a 100% payout. Any performance between the threshold and the maximum level would result in a linear payout between 33% and 100%. The final number of shares as determined at the end of the three-year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff-vest in the first year following the performance period for GMDs and Vice Chairs. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. In general, the form of the equity awards (notional shares), the entitlement to dividend equivalents and the settlement method is the same as for EOP awards. | The LTIP is a mandatory deferred share-based compensation plan for senior leaders of the Group (i.e., GEB members, GMDs and Vice Chairs). LTIP awards are granted for the first time in 2020 as part of the performance award pool for 2019. The final number of notional shares delivered at vesting depends on two equally weighted performance metrics: average reported return on CET1 capital (RoCET1) and relative total shareholder return (rTSR), which measures UBS's total shareholder return against an index consisting of global systemically important banks as determined by the Financial Stability Board. These performance metrics are separately valued as of the date of grant and (re-)assessed over a three-year performance period starting in the year of grant. For both metrics there is a threshold level, which would result in a 33% payout, and a maximum level, which would result in a 100% payout. Any performance between the threshold and the maximum level would result in a linear payout between 33% and 100%. The final number of shares as determined at the end of the three-year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff-vest in the first year following the performance period for GMDs and Vice Chairs. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. In general, the form of the equity awards (notional shares), the entitlement to dividend equivalents and the settlement method is the same as for EOP awards. | |
Description Of Vesting Requirements For Sharebased Payment Arrangement | The final number of shares as determined at the end of the three-year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff-vest in the first year following the performance period for GMDs and Vice Chairs. | The final number of shares as determined at the end of the three-year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff-vest in the first year following the performance period for GMDs and Vice Chairs. | |
Role-based allowances | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of other non-share-based compensation plans | 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. RBA 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. | 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. RBA 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 Plan | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of share-based compensation plans | 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. Employees are entitled to receive a dividend equivalent which may be paid in notional shares and/or cash. | 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. Employees are entitled to receive a dividend equivalent which may be paid in notional shares and/or cash. | |
Description Of Vesting Requirements For Sharebased Payment Arrangement | 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. | 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. | |
KESAP And KESOP | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of share-based compensation plans | 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. SARs gave employees the right to receive a number of UBS shares equal to the increase in market price of the UBS share between the grant date and the exercise date. One option entitled the holder to acquire one registered UBS share at the option’s strike price. SARs and options were settled by delivering UBS shares, except in jurisdictions where this was not permitted for legal reasons. All unexercised options and stock appreciation rights under these awards expired in 2019. | 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. SARs gave employees the right to receive a number of UBS shares equal to the increase in market price of the UBS share between the grant date and the exercise date. One option entitled the holder to acquire one registered UBS share at the option’s strike price. SARs and options were settled by delivering UBS shares, except in jurisdictions where this was not permitted for legal reasons. All unexercised options and stock appreciation rights under these awards expired in 2019. | |
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% | |
Description of vesting requirements for non-share-based compensation plans | DCCP awards vest in full after five years, and up to seven years for UK senior management functions, unless there is a trigger event. | DCCP awards vest in full after five years, and up to seven years for UK senior management functions, unless there is a trigger event. | |
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 other non-share-based compensation plans | In line with market practice for US wealth management businesses, the compensation for US financial advisors in Global Wealth Management is comprised of 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 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 things, errors, negligence or carelessness, or a failure to comply with the firm’s rules, standards, practices and policies or applicable laws and regulations. | In line with market practice for US wealth management businesses, the compensation for US financial advisors in Global Wealth Management is comprised of 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 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 things, errors, negligence or carelessness, or a failure to comply with the firm’s rules, standards, practices and policies or applicable laws and regulations. | |
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. | 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. | |
Description of vesting requirements for non-share-based compensation plans | 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. | 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. | |
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 exceeded defined thresholds from 2010 to 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 exceeded defined thresholds from 2010 to 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 | PartnerPlus | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of other non-share-based compensation plans | Through performance year 2016, financial advisor 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. | Through performance year 2016, financial advisor 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. | |
UBS AG | Equity Ownership Plan | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of share-based compensation plans | The EOP is a mandatory deferred share-based compensation plan for all employees with total annual compensation greater than USD / CHF 300,000. Starting with performance year 2019, GEB members, Group Managing Directors (GMDs) and Vice Chairs receive Long-Term Incentive Plan (LTIP) awards instead of EOP. EOP awards granted to GEB members and GMDs in 2019 and prior years, as well as EOP awards granted to certain other employees, will only vest if both Group and business division performance conditions are met. For awards granted in 2019 and 2020, related to the performance years 2018 and 2019, respectively, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). For awards granted in 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. 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. Awards granted generally 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 in 2018 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 compensation. 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 the granting of such awards. Awards granted to GEB members in 2019 and prior years generally vest 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. Starting with performance year 2019, GEB members, Group Managing Directors (GMDs) and Vice Chairs receive Long-Term Incentive Plan (LTIP) awards instead of EOP. EOP awards granted to GEB members and GMDs in 2019 and prior years, as well as EOP awards granted to certain other employees, will only vest if both Group and business division performance conditions are met. For awards granted in 2019 and 2020, related to the performance years 2018 and 2019, respectively, the Group performance condition is based on the average reported return on common equity tier 1 capital (RoCET1). For awards granted in 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. 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. Awards granted generally 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 in 2018 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 compensation. 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 the granting of such awards. Awards granted to GEB members in 2019 and prior years generally vest 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 the granting of such awards. Awards granted to GEB members in 2019 and prior years generally vest after three, four and five years. | EOP awards generally vest in equal installments after two and three years following the granting of such awards. Awards granted to GEB members in 2019 and prior years generally vest after three, four and five years. | |
UBS AG | Long-Term Incentive Plan | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of share-based compensation plans | The LTIP is a mandatory deferred share-based compensation plan for senior leaders of the Group (i.e., GEB members, GMDs and Vice Chairs). LTIP awards are granted for the first time in 2020 as part of the performance award pool for 2019. The final number of notional shares delivered at vesting depends on two equally weighted performance metrics: average reported return on CET1 capital (RoCET1) and relative total shareholder return (rTSR), which measures UBS's total shareholder return against an index consisting of global systemically important banks as determined by the Financial Stability Board. These performance metrics are separately valued as of the date of grant and (re-)assessed over a three-year performance period starting in the year of grant. For both metrics there is a threshold level, which would result in a 33% payout, and a maximum level, which would result in a 100% payout. Any performance between the threshold and the maximum level would result in a linear payout between 33% and 100%. The final number of shares as determined at the end of the three-year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff-vest in the first year following the performance period for GMDs and Vice Chairs. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. In general, the form of the equity awards (notional shares), the entitlement to dividend equivalents and the settlement method is the same as for EOP awards. | The LTIP is a mandatory deferred share-based compensation plan for senior leaders of the Group (i.e., GEB members, GMDs and Vice Chairs). LTIP awards are granted for the first time in 2020 as part of the performance award pool for 2019. The final number of notional shares delivered at vesting depends on two equally weighted performance metrics: average reported return on CET1 capital (RoCET1) and relative total shareholder return (rTSR), which measures UBS's total shareholder return against an index consisting of global systemically important banks as determined by the Financial Stability Board. These performance metrics are separately valued as of the date of grant and (re-)assessed over a three-year performance period starting in the year of grant. For both metrics there is a threshold level, which would result in a 33% payout, and a maximum level, which would result in a 100% payout. Any performance between the threshold and the maximum level would result in a linear payout between 33% and 100%. The final number of shares as determined at the end of the three-year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff-vest in the first year following the performance period for GMDs and Vice Chairs. The awards are generally forfeitable upon, among other circumstances, voluntary termination of employment with UBS. In general, the form of the equity awards (notional shares), the entitlement to dividend equivalents and the settlement method is the same as for EOP awards. | |
Description Of Vesting Requirements For Sharebased Payment Arrangement | The final number of shares as determined at the end of the three-year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff-vest in the first year following the performance period for GMDs and Vice Chairs. | The final number of shares as determined at the end of the three-year performance period will vest in three equal installments in each of the three years following the performance period for GEB members, and cliff-vest in the first year following the performance period for GMDs and Vice Chairs. | |
UBS AG | Role-based allowances | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of other non-share-based compensation plans | 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. RBA 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. | 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. RBA 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 | Equity Plus Plan | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of share-based compensation plans | 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. Employees are entitled to receive a dividend equivalent which may be paid in notional shares and/or cash. | 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. Employees are entitled to receive a dividend equivalent which may be paid in notional shares and/or cash. | |
Description Of Vesting Requirements For Sharebased Payment Arrangement | 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. | 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. | |
UBS AG | KESAP And KESOP | |||
Equity Participation And Other Compensation Plans [Line Items] | |||
Description of share-based compensation plans | 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. SARs gave employees the right to receive a number of UBS shares equal to the increase in market price of the UBS share between the grant date and the exercise date. One option entitled the holder to acquire one registered UBS share at the option’s strike price. SARs and options were settled by delivering UBS shares, except in jurisdictions where this was not permitted for legal reasons. All unexercised options and stock appreciation rights under these awards expired in 2019. | 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. SARs gave employees the right to receive a number of UBS shares equal to the increase in market price of the UBS share between the grant date and the exercise date. One option entitled the holder to acquire one registered UBS share at the option’s strike price. SARs and options were settled by delivering UBS shares, except in jurisdictions where this was not permitted for legal reasons. All unexercised options and stock appreciation rights under these awards expired in 2019. |
Employee benefits_ variable c_4
Employee benefits: variable compensation (Narrative) (Detail 2) $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Description of when the majority of awards were granted | February 2020 | |
UBS option awards that have been granted since 2009 | shares | 0 | 0 |
UBS SAR awards that have been granted since 2009 | shares | 0 | 0 |
Weighted average discount for share and performance share awards granted | 22.60% | 18.00% |
Carrying amount of liability related to cash-settled share-based awards | $ | $ 34 | $ 39 |
Unvested share-based awards | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Weighted average remaining contractual term (years) | 2.4 | |
UBS AG | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Description of when the majority of awards were granted | February 2020 | |
Weighted average discount for share and performance share awards granted | 22.60% | 18.00% |
Carrying amount of liability related to cash-settled share-based awards | $ | $ 1 | $ 2 |
UBS AG | Unvested share-based awards | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Weighted average remaining contractual term (years) | 2.4 |
Employee benefits_ variable c_5
Employee benefits: variable compensation - Effect on income statement (Detail 1) - USD ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | $ 7,045 | [1] | $ 7,292 | [2] | $ 7,467 | [3] | |
Personnel expenses deferred to the next and following years | 4,259 | [4] | 4,694 | [5] | 5,164 | [6] | |
Personnel expenses related to share-based compensation | 610 | 634 | 711 | ||||
Personnel expenses related to share-based compensation - performance awards | 461 | 526 | 583 | ||||
Personnel expenses related to share-based compensation - other variable compensation | 43 | 12 | 26 | ||||
Personnel expenses related to share-based compensation - financial advisor variable compensation | 106 | 95 | 102 | ||||
Personnel expenses related to share-based compensation recognized within other Note 6 expense categories | 61 | 49 | 101 | ||||
Salaries related to share-based compensation | 10 | 15 | 25 | ||||
Social security related to share-based compensation | 25 | 8 | 51 | ||||
Personnel expenses related to share-based compensation - Equity Plus Plan | 27 | 26 | 25 | ||||
Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 5,617 | 5,889 | 5,718 | ||||
Personnel expenses deferred to the next and following years | 1,093 | [4] | 1,250 | [5] | 1,316 | [6] | |
Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,428 | 1,403 | 1,749 | ||||
Personnel expenses deferred to the next and following years | 3,166 | [4] | 3,444 | [5] | 3,848 | [6] | |
Total variable compensation - performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,755 | 2,995 | 3,151 | ||||
Personnel expenses deferred to the next and following years | 1,036 | [4] | 1,238 | [5] | 1,291 | [6] | |
Total variable compensation - performance awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,193 | 2,461 | 2,487 | ||||
Personnel expenses deferred to the next and following years | 429 | [4] | 585 | [5] | 594 | [6] | |
Total variable compensation - performance awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 562 | 534 | 664 | ||||
Personnel expenses deferred to the next and following years | 608 | [4] | 653 | [5] | 697 | [6] | |
Non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,868 | 2,057 | 2,062 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
Non-deferred cash | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,894 | 2,089 | 2,088 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
Non-deferred cash | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (26) | (32) | (25) | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
Deferred compensation awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 887 | 938 | 1,088 | ||||
Personnel expenses deferred to the next and following years | 1,036 | [4] | 1,238 | [5] | 1,291 | [6] | |
Deferred compensation awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 299 | 373 | 399 | ||||
Personnel expenses deferred to the next and following years | 429 | [4] | 585 | [5] | 594 | [6] | |
Deferred compensation awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 588 | 565 | 689 | ||||
Personnel expenses deferred to the next and following years | 608 | [4] | 653 | [5] | 697 | [6] | |
of which: Equity Ownership Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 422 | 526 | 583 | ||||
Personnel expenses deferred to the next and following years | 424 | [4] | 570 | [5] | 620 | [6] | |
of which: Equity Ownership Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 122 | 217 | 239 | ||||
Personnel expenses deferred to the next and following years | 205 | [4] | 325 | [5] | 329 | [6] | |
of which: Equity Ownership Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 300 | 309 | 344 | ||||
Personnel expenses deferred to the next and following years | 219 | [4] | 244 | [5] | 291 | [6] | |
of which: Deferred Contingent Capital Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 375 | 357 | 444 | ||||
Personnel expenses deferred to the next and following years | 538 | [4] | 620 | [5] | 614 | [6] | |
of which: Deferred Contingent Capital Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 113 | 131 | 135 | ||||
Personnel expenses deferred to the next and following years | 173 | [4] | 238 | [5] | 238 | [6] | |
of which: Deferred Contingent Capital Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 262 | 226 | 310 | ||||
Personnel expenses deferred to the next and following years | 365 | [4] | 382 | [5] | 376 | [6] | |
of which: Long Term Incentive Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 39 | ||||||
Personnel expenses deferred to the next and following years | [4] | 25 | |||||
of which: Long Term Incentive Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 39 | ||||||
Personnel expenses deferred to the next and following years | [4] | 25 | |||||
of which: Long Term Incentive Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | ||||||
Personnel expenses deferred to the next and following years | [4] | 0 | |||||
of which: Asset Management EOP | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 51 | 53 | 57 | ||||
Personnel expenses deferred to the next and following years | 49 | [4] | 48 | [5] | 54 | [6] | |
of which: Asset Management EOP | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 25 | 25 | 25 | ||||
Personnel expenses deferred to the next and following years | 26 | [4] | 22 | [5] | 27 | [6] | |
of which: Asset Management EOP | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 26 | 28 | 32 | ||||
Personnel expenses deferred to the next and following years | 23 | [4] | 26 | [5] | 27 | [6] | |
of which: Other performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2 | 4 | |||||
Personnel expenses deferred to the next and following years | 1 | [5] | 3 | [6] | |||
of which: Other performance awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | 0 | |||||
Personnel expenses deferred to the next and following years | 0 | [5] | 0 | [6] | |||
of which: Other performance awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2 | 4 | |||||
Personnel expenses deferred to the next and following years | 1 | [5] | 3 | [6] | |||
Total variable compensation - other | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 246 | 243 | 252 | ||||
Personnel expenses deferred to the next and following years | 349 | [4] | 450 | [5] | 494 | [6] | |
Total variable compensation - other | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 159 | 162 | 151 | ||||
Personnel expenses deferred to the next and following years | 117 | [4] | 180 | [5] | 196 | [6] | |
Total variable compensation - other | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 88 | 80 | 101 | ||||
Personnel expenses deferred to the next and following years | 232 | [4] | 269 | [5] | 298 | [6] | |
Replacement payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 56 | 72 | 72 | ||||
Personnel expenses deferred to the next and following years | 75 | [4] | 102 | [5] | 130 | [6] | |
Replacement payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 5 | 7 | 13 | ||||
Personnel expenses deferred to the next and following years | 44 | [4] | 60 | [5] | 86 | [6] | |
Replacement payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 51 | 64 | 59 | ||||
Personnel expenses deferred to the next and following years | 30 | [4] | 41 | [5] | 44 | [6] | |
Forfeiture credits | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (86) | (136) | (107) | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
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 | [4] | 0 | [5] | 0 | [6] | |
Forfeiture credits | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (86) | (136) | (107) | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
Severance payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 125 | 123 | 113 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
Severance payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 125 | 123 | 113 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
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 | [4] | 0 | [5] | 0 | [6] | |
Retention plan and other payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 56 | 66 | 63 | ||||
Personnel expenses deferred to the next and following years | 52 | [4] | 57 | [5] | 63 | [6] | |
Retention plan and other payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 28 | 33 | 25 | ||||
Personnel expenses deferred to the next and following years | 23 | [4] | 24 | [5] | 30 | [6] | |
Retention plan and other payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 28 | 33 | 38 | ||||
Personnel expenses deferred to the next and following years | 29 | [4] | 33 | [5] | 33 | [6] | |
Deferred Contingent Capital Plan: interest expense | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 94 | 119 | 111 | ||||
Personnel expenses deferred to the next and following years | 222 | [4] | 291 | [5] | 301 | [6] | |
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 | 50 | [4] | 96 | [5] | 80 | [6] | |
Deferred Contingent Capital Plan: interest expense | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 94 | 119 | 111 | ||||
Personnel expenses deferred to the next and following years | 172 | [4] | 195 | [5] | 222 | [6] | |
Total financial advisor variable compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 4,043 | 4,054 | 4,064 | ||||
Personnel expenses deferred to the next and following years | 2,874 | [4] | 3,006 | [5] | 3,379 | [6] | |
Total financial advisor variable compensation | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,265 | 3,266 | 3,080 | ||||
Personnel expenses deferred to the next and following years | 548 | [4] | 484 | [5] | 526 | [6] | |
Total financial advisor variable compensation | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 778 | 789 | 984 | ||||
Personnel expenses deferred to the next and following years | 2,327 | [4] | 2,522 | [5] | 2,853 | [6] | |
Financial advisor variable compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,501 | 3,470 | 3,310 | ||||
Personnel expenses deferred to the next and following years | 907 | [4] | 767 | [5] | 951 | [6] | |
Financial advisor variable compensation | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,233 | 3,233 | 3,050 | ||||
Personnel expenses deferred to the next and following years | 197 | [4] | 128 | [5] | 156 | [6] | |
Financial advisor variable compensation | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 268 | 237 | 260 | ||||
Personnel expenses deferred to the next and following years | 710 | [4] | 639 | [5] | 795 | [6] | |
of which: non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,064 | 3,089 | 2,891 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
of which: non-deferred cash | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,064 | 3,089 | 2,891 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
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 | [4] | 0 | [5] | 0 | [6] | |
of which: deferred share-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 106 | 95 | 102 | ||||
Personnel expenses deferred to the next and following years | 183 | [4] | 183 | [5] | 191 | [6] | |
of which: deferred share-based awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 57 | 51 | 54 | ||||
Personnel expenses deferred to the next and following years | 54 | [4] | 52 | [5] | 70 | [6] | |
of which: deferred share-based awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 48 | 44 | 48 | ||||
Personnel expenses deferred to the next and following years | 130 | [4] | 131 | [5] | 121 | [6] | |
of which: deferred cash-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 331 | 286 | 316 | ||||
Personnel expenses deferred to the next and following years | 724 | [4] | 584 | [5] | 760 | [6] | |
of which: deferred cash-based awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 112 | 93 | 104 | ||||
Personnel expenses deferred to the next and following years | 144 | [4] | 76 | [5] | 86 | [6] | |
of which: deferred cash-based awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 219 | 193 | 212 | ||||
Personnel expenses deferred to the next and following years | 580 | [4] | 507 | [5] | 674 | [6] | |
Compensation commitments with recruited financial advisors | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [7] | 542 | 584 | 754 | |||
Personnel expenses deferred to the next and following years | [7] | 1,967 | [4] | 2,240 | [5] | 2,428 | [6] |
Compensation commitments with recruited financial advisors | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [7] | 32 | 33 | 31 | |||
Personnel expenses deferred to the next and following years | [7] | 350 | [4] | 357 | [5] | 369 | [6] |
Compensation commitments with recruited financial advisors | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [7] | 510 | 551 | 723 | |||
Personnel expenses deferred to the next and following years | [7] | 1,617 | [4] | 1,883 | [5] | 2,058 | [6] |
UBS AG | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 6,814 | [8] | 7,068 | [9] | 7,349 | [10] | |
Personnel expenses deferred to the next and following years | 4,222 | [4] | 4,656 | [5] | 5,135 | [6] | |
Personnel expenses related to share-based compensation | 595 | 612 | 726 | ||||
Personnel expenses related to share-based compensation - performance awards | 448 | 507 | 599 | ||||
Personnel expenses related to share-based compensation - other variable compensation | 42 | 10 | 25 | ||||
Personnel expenses related to share-based compensation - financial advisor variable compensation | 106 | 95 | 102 | ||||
Personnel expenses related to share-based compensation recognized within other Note 6 expense categories | 54 | 44 | 97 | ||||
Salaries related to share-based compensation | 10 | 15 | 25 | ||||
Social security related to share-based compensation | 23 | 7 | 49 | ||||
Personnel expenses related to share-based compensation - Equity Plus Plan | 22 | 22 | 23 | ||||
UBS AG | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 5,398 | 5,666 | 5,585 | ||||
Personnel expenses deferred to the next and following years | 1,076 | [4] | 1,233 | [5] | 1,306 | [6] | |
UBS AG | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,416 | 1,402 | 1,764 | ||||
Personnel expenses deferred to the next and following years | 3,146 | [4] | 3,424 | [5] | 3,829 | [6] | |
UBS AG | Total variable compensation - performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2,545 | 2,794 | 3,054 | ||||
Personnel expenses deferred to the next and following years | 1,005 | [4] | 1,208 | [5] | 1,274 | [6] | |
UBS AG | Total variable compensation - performance awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,993 | 2,256 | 2,373 | ||||
Personnel expenses deferred to the next and following years | 413 | [4] | 570 | [5] | 589 | [6] | |
UBS AG | Total variable compensation - performance awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 553 | 538 | 680 | ||||
Personnel expenses deferred to the next and following years | 592 | [4] | 638 | [5] | 685 | [6] | |
UBS AG | Non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,682 | 1,870 | 1,958 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | Non-deferred cash | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 1,706 | 1,896 | 1,982 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | Non-deferred cash | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (24) | (26) | (24) | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | Deferred compensation awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 863 | 924 | 1,096 | ||||
Personnel expenses deferred to the next and following years | 1,005 | [4] | 1,208 | [5] | 1,274 | [6] | |
UBS AG | Deferred compensation awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 287 | 360 | 392 | ||||
Personnel expenses deferred to the next and following years | 413 | [4] | 570 | [5] | 589 | [6] | |
UBS AG | Deferred compensation awards | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 576 | 564 | 704 | ||||
Personnel expenses deferred to the next and following years | 592 | [4] | 638 | [5] | 685 | [6] | |
UBS AG | of which: Equity Ownership Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 410 | 507 | 599 | ||||
Personnel expenses deferred to the next and following years | 412 | [4] | 554 | [5] | 608 | [6] | |
UBS AG | of which: Equity Ownership Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 115 | 208 | 235 | ||||
Personnel expenses deferred to the next and following years | 198 | [4] | 316 | [5] | 322 | [6] | |
UBS AG | of which: Equity Ownership Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 294 | 299 | 364 | ||||
Personnel expenses deferred to the next and following years | 213 | [4] | 238 | [5] | 286 | [6] | |
UBS AG | of which: Deferred Contingent Capital Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 365 | 361 | 436 | ||||
Personnel expenses deferred to the next and following years | 521 | [4] | 605 | [5] | 609 | [6] | |
UBS AG | of which: Deferred Contingent Capital Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 109 | 126 | 132 | ||||
Personnel expenses deferred to the next and following years | 166 | [4] | 232 | [5] | 240 | [6] | |
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 | 256 | 235 | 304 | ||||
Personnel expenses deferred to the next and following years | 356 | [4] | 373 | [5] | 369 | [6] | |
UBS AG | of which: Long Term Incentive Plan | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 38 | ||||||
Personnel expenses deferred to the next and following years | [4] | 23 | |||||
UBS AG | of which: Long Term Incentive Plan | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 38 | ||||||
Personnel expenses deferred to the next and following years | [4] | 23 | |||||
UBS AG | of which: Long Term Incentive Plan | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 0 | ||||||
Personnel expenses deferred to the next and following years | [4] | 0 | |||||
UBS AG | of which: Asset Management EOP | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 51 | 53 | 57 | ||||
Personnel expenses deferred to the next and following years | 49 | [4] | 48 | [5] | 54 | [6] | |
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 | 25 | ||||
Personnel expenses deferred to the next and following years | 26 | [4] | 22 | [5] | 27 | [6] | |
UBS AG | of which: Asset Management EOP | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 26 | 28 | 32 | ||||
Personnel expenses deferred to the next and following years | 23 | [4] | 26 | [5] | 27 | [6] | |
UBS AG | of which: Other performance awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 2 | 4 | |||||
Personnel expenses deferred to the next and following years | 1 | [5] | 3 | [6] | |||
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 | |||||
Personnel expenses deferred to the next and following years | 0 | [5] | 0 | [6] | |||
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 | |||||
Personnel expenses deferred to the next and following years | 1 | [5] | 3 | [6] | |||
UBS AG | Total variable compensation - other | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 225 | 220 | 231 | ||||
Personnel expenses deferred to the next and following years | 343 | [4] | 442 | [5] | 482 | [6] | |
UBS AG | Total variable compensation - other | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 140 | 144 | 131 | ||||
Personnel expenses deferred to the next and following years | 115 | [4] | 178 | [5] | 191 | [6] | |
UBS AG | Total variable compensation - other | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 85 | 75 | 99 | ||||
Personnel expenses deferred to the next and following years | 228 | [4] | 264 | [5] | 291 | [6] | |
UBS AG | Replacement payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 55 | 68 | 70 | ||||
Personnel expenses deferred to the next and following years | 73 | [4] | 99 | [5] | 123 | [6] | |
UBS AG | Replacement payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 5 | 7 | 12 | ||||
Personnel expenses deferred to the next and following years | 43 | [4] | 58 | [5] | 82 | [6] | |
UBS AG | Replacement payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 49 | 61 | 58 | ||||
Personnel expenses deferred to the next and following years | 30 | [4] | 40 | [5] | 41 | [6] | |
UBS AG | Forfeiture credits | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (84) | (136) | (106) | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
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 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | Forfeiture credits | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | (84) | (136) | (106) | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | Severance payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 110 | 106 | 95 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | Severance payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 110 | 106 | 95 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
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 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | Retention plan and other payments | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 52 | 64 | 62 | ||||
Personnel expenses deferred to the next and following years | 51 | [4] | 56 | [5] | 62 | [6] | |
UBS AG | Retention plan and other payments | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 24 | 31 | 24 | ||||
Personnel expenses deferred to the next and following years | 22 | [4] | 23 | [5] | 30 | [6] | |
UBS AG | Retention plan and other payments | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 27 | 33 | 38 | ||||
Personnel expenses deferred to the next and following years | 29 | [4] | 33 | [5] | 32 | [6] | |
UBS AG | Deferred Contingent Capital Plan: interest expense | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 93 | 116 | 110 | ||||
Personnel expenses deferred to the next and following years | 219 | [4] | 288 | [5] | 297 | [6] | |
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 | 50 | [4] | 96 | [5] | 80 | [6] | |
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 | 93 | 116 | 110 | ||||
Personnel expenses deferred to the next and following years | 169 | [4] | 191 | [5] | 218 | [6] | |
UBS AG | Total financial advisor variable compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 4,043 | 4,054 | 4,064 | ||||
Personnel expenses deferred to the next and following years | 2,874 | [4] | 3,006 | [5] | 3,379 | [6] | |
UBS AG | Total financial advisor variable compensation | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,265 | 3,266 | 3,080 | ||||
Personnel expenses deferred to the next and following years | 548 | [4] | 484 | [5] | 526 | [6] | |
UBS AG | Total financial advisor variable compensation | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 778 | 789 | 984 | ||||
Personnel expenses deferred to the next and following years | 2,327 | [4] | 2,522 | [5] | 2,853 | [6] | |
UBS AG | Financial advisor variable compensation | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,501 | 3,470 | 3,310 | ||||
Personnel expenses deferred to the next and following years | 907 | [4] | 767 | [5] | 951 | [6] | |
UBS AG | Financial advisor variable compensation | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,233 | 3,233 | 3,050 | ||||
Personnel expenses deferred to the next and following years | 197 | [4] | 128 | [5] | 156 | [6] | |
UBS AG | Financial advisor variable compensation | Related to prior performance years | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 268 | 237 | 260 | ||||
Personnel expenses deferred to the next and following years | 710 | [4] | 639 | [5] | 795 | [6] | |
UBS AG | of which: non-deferred cash | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,064 | 3,089 | 2,891 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | of which: non-deferred cash | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 3,064 | 3,089 | 2,891 | ||||
Personnel expenses deferred to the next and following years | 0 | [4] | 0 | [5] | 0 | [6] | |
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 | [4] | 0 | [5] | 0 | [6] | |
UBS AG | of which: deferred share-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 106 | 95 | 102 | ||||
Personnel expenses deferred to the next and following years | 183 | [4] | 183 | [5] | 191 | [6] | |
UBS AG | of which: deferred share-based awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 57 | 51 | 54 | ||||
Personnel expenses deferred to the next and following years | 54 | [4] | 52 | [5] | 70 | [6] | |
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 | 48 | 44 | 48 | ||||
Personnel expenses deferred to the next and following years | 130 | [4] | 131 | [5] | 121 | [6] | |
UBS AG | of which: deferred cash-based awards | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 331 | 286 | 316 | ||||
Personnel expenses deferred to the next and following years | 724 | [4] | 584 | [5] | 760 | [6] | |
UBS AG | of which: deferred cash-based awards | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | 112 | 93 | 104 | ||||
Personnel expenses deferred to the next and following years | 144 | [4] | 76 | [5] | 86 | [6] | |
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 | 219 | 193 | 212 | ||||
Personnel expenses deferred to the next and following years | 580 | [4] | 507 | [5] | 674 | [6] | |
UBS AG | Compensation commitments with recruited financial advisors | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [7] | 542 | 584 | 754 | |||
Personnel expenses deferred to the next and following years | [7] | 1,967 | [4] | 2,240 | [5] | 2,429 | [6] |
UBS AG | Compensation commitments with recruited financial advisors | Related to performance year | |||||||
Income Statement Compensation Items [Line Items] | |||||||
Personnel expenses for the current year | [7] | 32 | 33 | 31 | |||
Personnel expenses deferred to the next and following years | [7] | 350 | [4] | 357 | [5] | 369 | [6] |
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 | [7] | 510 | 551 | 723 | |||
Personnel expenses deferred to the next and following years | [7] | $ 1,617 | [4] | $ 1,883 | [5] | $ 2,058 | [6] |
[1] | Includes USD 610 million in expenses related to share-based compensation (performance awards: USD 461 million; other variable compensation: USD 43 million; financial advisor compensation: USD 106 million). A further USD 61 million in expenses related to share-based compensation was recognized within other expense categories included in Note 6 (salaries: USD 10 million, related to role-based allowances; social security: USD 25 million; other personnel expenses: USD 27 million related to the Equity Plus Plan). Total personnel expense related to share-based equity-settled compensation excluding social security was USD 619 million. | ||||||
[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 expense categories included in Note 6 (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 expense related to share-based equity-settled compensation excluding social security was USD 676 million. | ||||||
[3] | 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 expense categories included in Note 6 (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 expense related to share-based equity-settled compensation excluding social security was USD 735 million. | ||||||
[4] | Estimate as of 31 December 2019. Actual amounts to be expensed in future periods may vary, e.g., due to forfeiture of awards | ||||||
[5] | Estimate as of 31 December 2018. Actual amounts expensed may vary, e.g., due to forfeiture of awards | ||||||
[6] | Estimate as of 31 December 2017. Actual amounts expensed may vary, e.g., due to forfeiture of awards | ||||||
[7] | 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. | ||||||
[8] | Includes USD 595 million in expenses related to share-based compensation (performance awards: USD 448 million; other variable compensation: USD 42 million; financial advisor compensation: USD 106 million). A further USD 54 million in expenses related to share-based compensation was recognized within other expense categories included in Note 6 (salaries: USD 10 million, related to role-based allowances; social security: USD 23 million; other personnel expenses: USD 22 million related to the Equity Plus Plan). | ||||||
[9] | 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 expense categories included in Note 6 (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). | ||||||
[10] | 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 expense categories included in Note 6 (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). |
Employee benefits_ variable c_6
Employee benefits: variable compensation - Movements (Detail 1) | 12 Months Ended | |
Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | |
Share Awards [Line Items] | ||
Number of shares outstanding, at the beginning of the year | 146,845,027 | 162,835,713 |
Number of shares awarded during the year | 77,641,909 | 58,329,398 |
Number of share distributions during the year | (61,152,200) | (67,696,099) |
Number of shares forfeited during the year | (7,269,974) | (6,623,984) |
Number of shares outstanding, at the end of the year | 156,064,763 | 146,845,027 |
Number of shares vested for accounting purposes | 79,486,447 | 66,850,562 |
Weighted average grant date fair value of shares outstanding, at the beginning of the year | $ | $ 16 | $ 15 |
Weighted average grant date fair value of shares awarded during the year | $ | 11 | 17 |
Weighted average grant date fair value of share distributions during the year | $ | 13 | 15 |
Weighted average grant date fair value of shares forfeited during the year | $ | 14 | 16 |
Weighted average grant date fair value of shares outstanding, at the end of the year | $ | $ 14 | $ 16 |
UBS AG | ||
Share Awards [Line Items] | ||
Number of shares outstanding, at the beginning of the year | 201,793 | 404,720 |
Number of shares awarded during the year | 29,092 | 26,005 |
Number of share distributions during the year | (140,441) | (228,932) |
Number of shares forfeited during the year | 0 | 0 |
Number of shares outstanding, at the end of the year | 90,443 | 201,793 |
Number of shares vested for accounting purposes | 56,492 | 133,225 |
Weighted average grant date fair value of shares outstanding, at the beginning of the year | $ | $ 15 | $ 15 |
Weighted average grant date fair value of shares awarded during the year | $ | 11 | 13 |
Weighted average grant date fair value of share distributions during the year | $ | 14 | 15 |
Weighted average grant date fair value of shares forfeited during the year | $ | 0 | 0 |
Weighted average grant date fair value of shares outstanding, at the end of the year | $ | $ 14 | $ 15 |
Employee benefits_ variable c_7
Employee benefits: variable compensation - Movements (Detail 2) - Equity Ownership Plan | 12 Months Ended | ||
Dec. 31, 2019CHF (SFr)shares | Dec. 31, 2018CHF (SFr)shares | ||
Option Awards [Line Items] | |||
Number of options outstanding, at the beginning of the year | shares | 6,567,592 | 32,583,168 | |
Number of options exercised during the year | shares | [1] | (2,818,070) | (1,813,583) |
Number of options forfeited during the year | shares | (512) | (19,752) | |
Number of options expired unexercised | shares | (3,749,010) | (24,182,241) | |
Number of options outstanding, at the end of the year | shares | 0 | 6,567,592 | |
Number of options exercisable, at the end of the year | shares | 0 | 6,567,592 | |
Weighted average exercise price of options outstanding, at the beginning of the year | SFr 14 | SFr 25 | |
Weighted average exercise price of options exercised during the year | [1] | 10 | 12 |
Weighted average exercise price of options forfeited during the year | 16 | 23 | |
Weighted average exercise price of options expired unexercised | 16 | 29 | |
Weighted average exercise price of options outstanding, at the end of the year | 14 | ||
Weighted average exercise price of options exercisable, at the end of the year | 14 | ||
Weighted average share price of options exercised | 12.69 | 16.22 | |
Intrinsic value of options exercised during the year | SFr 7,000,000 | SFr 7,000,000 | |
[1] | The weighted average share price upon option exercise was CHF 12.69 in 2019 (2018: CHF 16.22), resulting in an intrinsic value of CHF 7 million of options exercised during 2019 (2018: CHF 7 million). |
Employee benefits_ variable c_8
Employee benefits: variable compensation - Movements (Detail 3) | 12 Months Ended | ||
Dec. 31, 2019CHF (SFr) | Dec. 31, 2018CHF (SFr) | ||
Stock Appreciation Rights Awards [Line Items] | |||
Number of SARs outstanding, at the beginning of the year | 5,965,769 | 8,513,415 | |
Number of SARs exercised during the year | [1] | (5,381,259) | (2,490,146) |
Number of SARs forfeited during the year | 0 | (11,000) | |
Number of SARs expired unexercised | (584,510) | (46,500) | |
Number of SARs outstanding, at the end of the year | 0 | 5,965,769 | |
Number of SARs exercisable, at the end of the year | 0 | 5,965,769 | |
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 | 0 | 13 | |
Weighted average exercise price of SARs expired unexercised | 16 | 12 | |
Weighted average exercise price of SARs outstanding, at the end of the year | 12 | ||
Weighted average exercise price of SARs exercisable, at the end of the year | 12 | ||
Weighted average share price of SARs exercised | 12.71 | 16.15 | |
Intrinsic value of SARs exercised during the year | SFr 7,000,000 | SFr 12,000,000 | |
[1] | The weighted average share price upon exercise of SARs was CHF 12.71 in 2019 (2018: CHF 16.15), resulting in an intrinsic value of CHF 7 million of SARs exercised during 2019 (2018: CHF 12 million). |
Interests in subsidiaries (Deta
Interests in subsidiaries (Detail 1.1) SFr in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019CHF (SFr) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||||
Share capital | $ | $ 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 | 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 | SFr | [1] | SFr 1 | ||
Equity interest accumulated in % | [1] | 100.00% | ||
UBS AG | ||||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||||
Share capital | $ | $ 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, SFr in Millions | 12 Months Ended | ||||
Dec. 31, 2019CHF (SFr) | Dec. 31, 2019EUR (€) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | ||
Individually significant subsidiaries of UBS AG | |||||
Share capital | $ 338,000,000 | $ 338,000,000 | |||
UBS Americas Inc. | |||||
Individually significant subsidiaries of UBS AG | |||||
Company | [1] | UBS Americas Inc. | |||
Registered office | [1] | Wilmington, Delaware, USA | |||
Primary business division | [1] | Corporate Center | |||
Share capital | [1] | 0 | |||
Equity interest accumulated in % | [1] | 100.00% | |||
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] | 3,150,000,000 | |||
Equity interest accumulated in % | [1] | 100.00% | |||
Common share capital | 1,000 | ||||
Preference share capital | 3,150,000,000 | ||||
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 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 | |||
UBS AG | UBS Americas Inc. | |||||
Individually significant subsidiaries of UBS AG | |||||
Company | [1] | UBS Americas Inc. | |||
Registered office | [1] | Wilmington, Delaware, USA | |||
Primary business division | [1] | Corporate Center | |||
Share capital | [1] | 0 | |||
Equity interest accumulated in % | [1] | 100.00% | |||
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] | 3,150,000,000 | |||
Equity interest accumulated in % | [1] | 100.00% | |||
Common share capital | 1,000 | ||||
Preference share capital | 3,150,000,000 | ||||
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 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 3,150,000,000. | ||||
[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, 2019AUD ($) | Dec. 31, 2019CHF (SFr) | Dec. 31, 2019EUR (€) | Dec. 31, 2019GBP (£) | Dec. 31, 2019HKD ($) | Dec. 31, 2019JPY (¥) | Dec. 31, 2019SDG ( ) | Dec. 31, 2019THB (฿) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | ||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||
Share capital | $ 338 | $ 338 | |||||||||
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 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 Asset Management Switzerland AG | |||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||
Company | UBS Asset Management Switzerland AG | ||||||||||
Registered office | Zurich, Switzerland | ||||||||||
Primary business division | Asset Management | ||||||||||
Share capital | SFr | SFr 0.5 | ||||||||||
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 | 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 AG | |||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||
Share capital | 338 | $ 338 | |||||||||
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 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 | UBS Asset Management Switzerland AG | |||||||||||
Disclosure Of Investments In Subsidiaries With Material Group Contribution [Line Items] | |||||||||||
Company | UBS Asset Management Switzerland AG | ||||||||||
Registered office | Zurich, Switzerland | ||||||||||
Primary business division | Asset Management | ||||||||||
Share capital | SFr | 0.5 | ||||||||||
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 | $ 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% | ||||||||||
[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, 2019 | Dec. 31, 2018 | |
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 2019 and 2018, the Group did not enter into any contractual obligation that could require the Group to provide financial support to consolidated SEs. | In 2019 and 2018, 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 2019 and 2018, 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 2019 and 2018, 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] | ||
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 | The maximum 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. | The maximum 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. |
Interests in associates and j_3
Interests in associates and joint ventures (Detail) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
Carrying amount at the beginning of the year | $ 1,099 | $ 1,045 | ||||
Additions | 0 | 3 | ||||
Disposals | [1] | 0 | (431) | |||
Reclassifications | [2] | (21) | ||||
Share of comprehensive income | 25 | 529 | ||||
of which: share of net profit | 46 | [3] | 529 | [3],[4] | $ 76 | |
of which: share of other comprehensive income | [5] | (21) | 1 | |||
Dividends received | (83) | (42) | ||||
Impairment | (1) | |||||
Foreign currency translation | 11 | 16 | ||||
Carrying amount at the end of the year | 1,051 | 1,099 | 1,045 | |||
of which: associates | 1,010 | 1,066 | ||||
of which: joint ventures | 41 | 33 | ||||
Share of profit (loss) of associates | 28 | 511 | ||||
Share of profit (loss) of associates related to valuation gains | 460 | |||||
Share of profit (loss) of joint ventures | 18 | 18 | ||||
Share of other comprehensive income of joint ventures | 1 | |||||
Share of other comprehensive income of associates | $ (22) | $ 1 | ||||
UBS Securities China | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
UBS's equity interest | 51.00% | 51.00% | ||||
SIX Group AG, Zurich | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | [6] | $ 887 | $ 952 | |||
UBS's equity interest | 17.31% | |||||
Other associates | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | $ 123 | 114 | ||||
UBS AG | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
Carrying amount at the beginning of the year | 1,099 | 1,045 | ||||
Additions | 0 | 3 | ||||
Disposals | [1] | 0 | (431) | |||
Reclassifications | [2] | (21) | ||||
Share of comprehensive income | 25 | 529 | ||||
of which: share of net profit | 46 | [3] | 529 | [3],[4] | 76 | |
of which: share of other comprehensive income | [5] | (21) | 1 | |||
Dividends received | (83) | (42) | ||||
Impairment | (1) | |||||
Foreign currency translation | 11 | 16 | ||||
Carrying amount at the end of the year | 1,051 | 1,099 | $ 1,045 | |||
of which: associates | 1,010 | 1,066 | ||||
of which: joint ventures | 41 | 33 | ||||
Share of profit (loss) of associates | 28 | 511 | ||||
Share of profit (loss) of associates related to valuation gains | 460 | |||||
Share of profit (loss) of joint ventures | 18 | 18 | ||||
Share of other comprehensive income of joint ventures | 1 | |||||
Share of other comprehensive income of associates | $ (22) | $ 1 | ||||
UBS AG | UBS Securities China | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
UBS's equity interest | 51.00% | 51.00% | ||||
UBS AG | SIX Group AG, Zurich | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | [6] | $ 887 | $ 952 | |||
UBS's equity interest | 17.31% | |||||
UBS AG | Other associates | ||||||
Disclosure Of Investments In Associates And Joint Ventures [Line Items] | ||||||
of which: associates | $ 123 | $ 114 | ||||
[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 2019, consists of USD 28 million from associates and USD 18 million from joint ventures. 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. | |||||
[4] | Includes a USD 460 million valuation gain on our equity ownership in SIX related to the sale of SIX Payment Services to Worldline. | |||||
[5] | For 2019, consists of negative USD 22 million from associates and USD 1 million from joint ventures. For 2018, the total of USD 1 million is from associates. | |||||
[6] | In 2019, 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, 2019 | Dec. 31, 2018 | |
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 |
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. |
Interests in unconsolidated s_3
Interests in unconsolidated structured entities (Narrative) (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
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 amount 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 amount 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 2019 and 2018, 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 2019 and 2018, 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 2019 and 2018, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in Other net income from financial instruments measured at fair value through profit of loss, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. | In 2019 and 2018, income and expenses from interests in unconsolidated SEs primarily resulted from mark-to-market movements recognized in Other net income from financial instruments measured at fair value through profit of loss, which have generally been hedged with other financial instruments, as well as fee and commission income received from UBS-sponsored funds. |
Non Existence Of Interest [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Description of types of income from structured entities | For several sponsored SEs, no interest was held by the Group at year-end. However, during the respective reporting period the Group 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 incurred 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 economically 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 included in the table below. The Group also recorded other net income from financial instruments measured at fair value through profit or loss from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivatives, through 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 economic hedges or other mitigating effects from the Group’s risk management activities. | For several sponsored SEs, no interest was held by the Group at year-end. However, during the respective reporting period the Group 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 incurred 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 economically 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 included in the table below. The Group also recorded other net income from financial instruments measured at fair value through profit or loss from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivatives, through 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 economic hedges or other mitigating effects from the Group’s risk management activities. |
Assets transferred to securitization vehicles by UBS, at time of transfer | $ 1,000,000 | $ 1,000,000 |
Assets transferred to securitization vehicles by third parties, at time of transfer | 1,000,000 | 1,000,000 |
Assets transferred to client vehicles by UBS, at time of transfer | 0 | 2,000,000 |
Assets transferred to client vehicles by third parties, at time of transfer | $ 1,000,000 | $ 0 |
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 2019 and 31 December 2018 , the Group held interests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and L egacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, 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 structure. The numbers outlined in the table on the previous page may differ from the securitization positio ns presented in the 31 December 2019 Pillar 3 r eport under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group di d not have an interest because it did not absorb any risk ; (ii) a different measurement basis in certain cases (e.g., IFRS carrying amount within the table above compared with net exposure amount at default for Pillar 3 disclosures) ; and (iii) different cl assification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information about the Group’s accounting policies regarding consolidation and sponsorsh ip of securitization vehicles and other structured entities Refer to the 31 December 2019 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more information | Interests in securitization vehicles As of 31 December 2019 and 31 December 2018 , the Group held interests, both retained and acquired, in various securitization vehicles, a majority of which are held within Corporate Center – Non-core and L egacy Portfolio. The Investment Bank also retained interests in securitization vehicles related to financing, 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 structure. The numbers outlined in the table on the previous page may differ from the securitization positio ns presented in the 31 December 2019 Pillar 3 r eport under “Pillar 3 disclosures” at HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion of synthetic securitizations transacted with entities that are not SEs and transactions in which the Group di d not have an interest because it did not absorb any risk ; (ii) a different measurement basis in certain cases (e.g., IFRS carrying amount within the table above compared with net exposure amount at default for Pillar 3 disclosures) ; and (iii) different cl assification of vehicles viewed as sponsored by the Group versus sponsored by third parties. Refer to Note 1 a item 1 for more information about the Group’s accounting policies regarding consolidation and sponsorsh ip of securitization vehicles and other structured entities Refer to the 31 December 2019 Pillar 3 report under “Pillar 3 disclosures” at www.ubs.com/investors for more information |
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 2019 and 31 December 2018 , 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 2019 and 31 December 2018 , 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 structured product offerings. In addition to the interests disclosed in the table on the prev ious 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 v arious 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 the Group’s exposure with investors, pro viding 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 investors. Any amounts due are collected on a regular basis and are g enerally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2019 or as of 31 December 2018 . | Interests in investment funds The Group holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge structured product offerings. In addition to the interests disclosed in the table on the prev ious 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 v arious 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 the Group’s exposure with investors, pro viding 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 investors. Any amounts due are collected on a regular basis and are g enerally backed by the assets of the fund. The Group did not have any material exposure to loss from these interests as of 31 December 2019 or as of 31 December 2018 . |
Investment fund units | Sponsored [Member] | Non Existence Of Interest [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Total closing net asset value of sponsored investment funds | $ 42,000,000 | $ 18,000,000 |
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 amount 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 amount 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 | The maximum 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. | The maximum 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. |
Description of types of income from structured entities | In 2019 and 2018, 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 2019 and 2018, 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. |
UBS AG | Non Existence Of Interest [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Description of types of income from structured entities | 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 incurred 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 economically 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 services, 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 included in the table below. UBS AG also recorded other net income from financial instruments measured at fair value through profit or loss from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivatives, through 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 hedges or other mitigating effects from UBS AG’s risk management activities. | 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 incurred 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 economically 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 services, 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 included in the table below. UBS AG also recorded other net income from financial instruments measured at fair value through profit or loss from mark-to-market movements arising primarily from derivatives, such as interest rate and currency swaps as well as credit derivatives, through 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 hedges or other mitigating effects from UBS AG’s risk management activities. |
Assets transferred to securitization vehicles by UBS, at time of transfer | $ 1,000,000 | $ 1,000,000 |
Assets transferred to securitization vehicles by third parties, at time of transfer | 1,000,000 | 1,000,000 |
Assets transferred to client vehicles by UBS, at time of transfer | 0 | 2,000,000 |
Assets transferred to client vehicles by third parties, at time of transfer | $ 1,000,000 | $ 0 |
UBS AG | Securitization vehicles | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | As of 31 December 2019 and 31 December 2018 , UBS AG 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 Investme nt 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. The numbers outlined in the table on the previous page may differ from the securitization positio ns presented in the 31 December 2019 Pillar 3 report under “Pillar 3 disclosures” a t HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion of synthetic 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 amount 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. | As of 31 December 2019 and 31 December 2018 , UBS AG 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 Investme nt 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. The numbers outlined in the table on the previous page may differ from the securitization positio ns presented in the 31 December 2019 Pillar 3 report under “Pillar 3 disclosures” a t HYPERLINK "http://www.ubs.com/investors" www.ubs.com/investors , for the following reasons: (i) exclusion of synthetic 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 amount 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. |
UBS AG | 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 2019 and 31 December 2018 , UBS AG retained interests in client vehicles sponsored by UBS AG 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 2019 and 31 December 2018 , UBS AG retained interests in client vehicles sponsored by UBS AG 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. |
UBS AG | Investment fund units | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Disclosure of information about interests in structured entity [text block] | Interests in invest ment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, UBS AG manages the ass ets 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 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 investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fu nd. UBS AG did not have any material exposure to loss from these interests as of 31 December 2019 or as of 31 December 2018 . | Interests in invest ment funds UBS AG holds interests in a number of investment funds, primarily resulting from seed investments or in order to hedge structured product offerings. In addition to the interests disclosed in the table on the previous page, UBS AG manages the ass ets 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 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 investors. Any amounts due are collected on a regular basis and are generally backed by the assets of the fu nd. UBS AG did not have any material exposure to loss from these interests as of 31 December 2019 or as of 31 December 2018 . |
UBS AG | Investment fund units | Sponsored [Member] | Non Existence Of Interest [Member] | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||
Total closing net asset value of sponsored investment funds | $ 42,000,000 | $ 18,000,000 |
Interests in unconsolidated s_4
Interests in unconsolidated structured entities (Detail 1) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | $ 11,247 | $ 12,682 | |
Total liabilities | 552 | 158 | |
Financial assets at fair value held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 6,466 | 7,890 |
Total assets | 6,466 | 7,890 | |
Derivative financial instruments - assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 53 | 44 |
Total assets | 55 | 44 | |
Loans and advances to customers | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 174 | 179 |
Total assets | 174 | 179 | |
Financial assets at fair value not held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 997 | 1,878 |
Total assets | 245 | 302 | |
Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 3,955 | 3,931 |
Total assets | 3,955 | 3,931 | |
Other financial assets measured at amortized cost | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 1,372 | 1,423 |
Total assets | 351 | 337 | |
Derivative financial instruments - liabilities | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 1 | 3 |
Total liabilities | 552 | 158 | |
Securitization vehicles | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [2] | 888 | 826 |
Total liabilities | 2 | 3 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [3] | 55,000 | 63,000 |
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 | 600 | |
Securitization vehicles | Financial assets at fair value held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 462 | 420 | |
Securitization vehicles | Derivative financial instruments - assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 9 | 8 | |
Securitization vehicles | Financial assets at fair value not held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 81 | 87 | |
Securitization vehicles | Other financial assets measured at amortized cost | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 335 | 312 | |
Securitization vehicles | Derivative financial instruments - liabilities | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | [4] | 2 | 3 |
Client vehicles | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 4,118 | 4,212 | |
Total liabilities | 225 | 123 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [5] | 73,000 | 69,000 |
Client vehicles | Financial assets at fair value held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 130 | 174 | |
Client vehicles | Derivative financial instruments - assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 9 | 35 | |
Client vehicles | Financial assets at fair value not held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [6] | 8 | 48 |
Client vehicles | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 3,955 | 3,931 | |
Client vehicles | Other financial assets measured at amortized cost | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [6] | 16 | 25 |
Client vehicles | Derivative financial instruments - liabilities | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | 225 | 123 | |
Investment funds | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 6,242 | 7,643 | |
Total liabilities | 324 | 32 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [7] | 413,000 | 385,000 |
Investment funds | Financial assets at fair value held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 5,874 | 7,297 | |
Investment funds | Derivative financial instruments - assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 36 | 1 | |
Investment funds | Loans and advances to customers | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 174 | 179 | |
Investment funds | Financial assets at fair value not held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 157 | 166 | |
Investment funds | Derivative financial instruments - liabilities | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | 324 | 32 | |
UBS AG | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 11,152 | 12,600 | |
Total liabilities | 552 | 158 | |
UBS AG | Financial assets at fair value held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 6,466 | 7,890 |
Total assets | 6,466 | 7,890 | |
UBS AG | Derivative financial instruments - assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 53 | 44 |
Total assets | 55 | 44 | |
UBS AG | Loans and advances to customers | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 174 | 179 |
Total assets | 174 | 179 | |
UBS AG | Financial assets at fair value not held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 902 | 1,796 |
Total assets | 151 | 220 | |
UBS AG | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 3,955 | 3,931 |
Total assets | 3,955 | 3,931 | |
UBS AG | Other financial assets measured at amortized cost | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 1,372 | 1,423 |
Total assets | 351 | 337 | |
UBS AG | Derivative financial instruments - liabilities | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Maximum exposure to loss | [1] | 1 | 3 |
Total liabilities | 552 | 158 | |
UBS AG | Securitization vehicles | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [2] | 888 | 826 |
Total liabilities | 2 | 3 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [3] | 55,000 | 63,000 |
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 | 600 | |
UBS AG | Securitization vehicles | Financial assets at fair value held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 462 | 420 | |
UBS AG | Securitization vehicles | Derivative financial instruments - assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 9 | 8 | |
UBS AG | Securitization vehicles | Financial assets at fair value not held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 81 | 87 | |
UBS AG | Securitization vehicles | Other financial assets measured at amortized cost | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 335 | 312 | |
UBS AG | Securitization vehicles | Derivative financial instruments - liabilities | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | [4] | 2 | 3 |
UBS AG | Client vehicles | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 4,118 | 4,212 | |
Total liabilities | 225 | 123 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [5] | 73,000 | 69,000 |
UBS AG | Client vehicles | Financial assets at fair value held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 130 | 174 | |
UBS AG | Client vehicles | Derivative financial instruments - assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 9 | 35 | |
UBS AG | Client vehicles | Financial assets at fair value not held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [6] | 8 | 48 |
UBS AG | Client vehicles | Financial assets measured at fair value through other comprehensive income | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 3,955 | 3,931 | |
UBS AG | Client vehicles | Other financial assets measured at amortized cost | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | [6] | 16 | 25 |
UBS AG | Client vehicles | Derivative financial instruments - liabilities | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | 225 | 123 | |
UBS AG | Investment funds | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 6,147 | 7,562 | |
Total liabilities | 324 | 32 | |
Assets held by the unconsolidated structured entities in which UBS had an interest | [7] | 413,000 | 385,000 |
UBS AG | Investment funds | Financial assets at fair value held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 5,874 | 7,297 | |
UBS AG | Investment funds | Derivative financial instruments - assets | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 36 | 1 | |
UBS AG | Investment funds | Loans and advances to customers | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 174 | 179 | |
UBS AG | Investment funds | Financial assets at fair value not held for trading | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total assets | 62 | 85 | |
UBS AG | Investment funds | Derivative financial instruments - liabilities | |||
Disclosure Of Unconsolidated Structured Entities [Line Items] | |||
Total liabilities | $ 324 | $ 32 | |
[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 2019, USD 0.6 billion of the USD 0.9 billion (31 December 2018: USD 0.6 billion of the USD 0.8 billion) was held in Corporate Center – Non-core and Legacy Portfolio. | ||
[3] | Represents the principal amount outstanding. | ||
[4] | 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 amount and the notional amount. For other swap liabilities, no maximum exposure to loss is reported. | ||
[5] | Represents the market value of total assets. | ||
[6] | Represents the carrying amount of loan commitments. The maximum exposure to loss for these instruments is equal to the notional amount. | ||
[7] | Represents the net asset value of the investment funds sponsored by UBS and the carrying amount of UBS’s interests in the investment funds not sponsored by UBS. |
Interests in unconsolidated s_5
Interests in unconsolidated structured entities (Detail 2) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [1],[2],[3],[4] | $ 4,501 | $ 5,048 | $ 6,070 |
Net fee and commission income | 17,413 | 17,895 | 17,522 | |
in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | (2) | (5) | ||
Net fee and commission income | 63 | 54 | ||
Other net income from financial instruments measured at fair value through profit or loss | 11 | 29 | ||
Total income | 72 | 78 | ||
Securitization vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | (1) | 0 | ||
Other net income from financial instruments measured at fair value through profit or loss | 19 | 0 | ||
Total income | 19 | 1 | ||
Asset information | [5] | 2,000 | 2,000 | |
Client vehicles | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | 0 | (6) | ||
Net fee and commission income | 13 | 16 | ||
Other net income from financial instruments measured at fair value through profit or loss | (18) | 8 | ||
Total income | (5) | 18 | ||
Asset information | [6] | 1,000 | 2,000 | |
Investment funds | in which UBS did not have an interest at year-end | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | (1) | 1 | ||
Net fee and commission income | 50 | 39 | ||
Other net income from financial instruments measured at fair value through profit or loss | 9 | 20 | ||
Total income | 58 | 60 | ||
Asset information | [7] | 42,000 | 18,000 | |
UBS AG | ||||
Disclosure Of Unconsolidated Structured Entities [Line Items] | ||||
Net interest income | [1],[8],[9],[10],[11] | 4,415 | 4,971 | 6,021 |
Net fee and commission income | [10] | 17,460 | 17,930 | 17,550 |
Other net income from financial instruments measured at fair value through profit or loss | [10] | 6,833 | 6,953 | $ 5,640 |
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) | ||
Net fee and commission income | 63 | 54 | ||
Other net income from financial instruments measured at fair value through profit or loss | 11 | 29 | ||
Total income | 72 | 78 | ||
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 | (1) | 0 | ||
Other net income from financial instruments measured at fair value through profit or loss | 19 | 0 | ||
Total income | 19 | 1 | ||
Asset information | [5] | 2,000 | 2,000 | |
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 | 0 | (6) | ||
Net fee and commission income | 13 | 16 | ||
Other net income from financial instruments measured at fair value through profit or loss | (18) | 8 | ||
Total income | (5) | 18 | ||
Asset information | [6] | 1,000 | 2,000 | |
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 | (1) | 1 | ||
Net fee and commission income | 50 | 39 | ||
Other net income from financial instruments measured at fair value through profit or loss | 9 | 20 | ||
Total income | 58 | 60 | ||
Asset information | [7] | $ 42,000 | $ 18,000 | |
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[2] | Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[3] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[4] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. | |||
[5] | Represents the amount of assets transferred to the respective securitization vehicles | |||
[6] | Represents the amount of assets transferred to the respective client vehicles. | |||
[7] | Represents the total net asset value of the respective investment funds. | |||
[8] | Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[9] | Effective 1 January 2019, UBS AG refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[10] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[11] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. |
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 consolidation 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 consolidation resulting from the acquisition of stake increase in UBS Securities China | $ 136 |
Changes in organization and d_3
Changes in organization and disposals - Sales of subsidiaries and businesses (Narrative) (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
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 | $ 153 |
Changes in organization and d_4
Changes in organization and disposals - Future transactions (Narrative) (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Disclosure Of Future Transactions With Subsidiaries And Businesses [Line Items] | |
Expected Future Stake In Strategic Partnership Entity With Sumitomo Mitsui Trust Holdings | 51.00% |
Expected Future Stake In Strategic Partnership Entity With Banco Do Brasil | 50.01% |
Expected Future Stake In UBS Fondcenter | 48.80% |
Expected future post-tax gain upon sale of majority stake in UBS Fondcenter | $ 600 |
UBS AG [Member] | |
Disclosure Of Future Transactions With Subsidiaries And Businesses [Line Items] | |
Expected Future Stake In Strategic Partnership Entity With Sumitomo Mitsui Trust Holdings | 51.00% |
Expected Future Stake In Strategic Partnership Entity With Banco Do Brasil | 50.01% |
Expected Future Stake In UBS Fondcenter | 48.80% |
Expected future post-tax gain upon sale of majority stake in UBS Fondcenter | $ 600 |
Finance lease receivables (Deta
Finance lease receivables (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Total minimum lease payments | $ 1,544 | $ 1,166 |
Unearned finance income | 89 | 58 |
Present value | 1,455 | 1,107 |
Within 1 year | ||
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Total minimum lease payments | 448 | 359 |
Unearned finance income | 31 | 22 |
Present value | 417 | 337 |
Due between 1 and 5 years | ||
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Total minimum lease payments | 874 | 703 |
Unearned finance income | 52 | 35 |
Present value | 822 | 669 |
Thereafter | ||
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Total minimum lease payments | 221 | 103 |
Unearned finance income | 6 | 2 |
Present value | 215 | 102 |
UBS AG | ||
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Total minimum lease payments | 1,544 | 1,166 |
Unearned finance income | 89 | 58 |
Present value | 1,455 | 1,107 |
UBS AG | Within 1 year | ||
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Total minimum lease payments | 448 | 359 |
Unearned finance income | 31 | 22 |
Present value | 417 | 337 |
UBS AG | Due between 1 and 5 years | ||
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Total minimum lease payments | 874 | 703 |
Unearned finance income | 52 | 35 |
Present value | 822 | 669 |
UBS AG | Thereafter | ||
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Total minimum lease payments | 221 | 103 |
Unearned finance income | 6 | 2 |
Present value | $ 215 | $ 102 |
Finance lease receivables (Narr
Finance lease receivables (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | ||
Explanation Of Unguaranteed Residual Values Accruing To Benefit Of Lessor | USD 246 million | USD 156 million |
Accumulated Allowance For Uncollectible Minimum Lease Payments Receivable | $ 6 | $ 7 |
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 246 million | USD 156 million |
Accumulated Allowance For Uncollectible Minimum Lease Payments Receivable | $ 6 | $ 7 |
Contingent Rents Recognised As Income | $ 0 |
Guarantees, commitments and f_3
Guarantees, commitments and forward starting transactions (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Guarantees | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | $ 19,128 | $ 19,785 | |
Sub-participations | (2,646) | (2,803) | |
Net irrevocable amount | 16,482 | 16,982 | |
Guarantees | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 986 | 1,639 | |
Guarantees | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 18,142 | 18,146 | |
Loan commitments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 33,856 | 34,747 | |
Sub-participations | (787) | (647) | |
Net irrevocable amount | 33,069 | 34,099 | |
Loan commitments | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 6,308 | 3,535 | |
Loan commitments | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 27,547 | 31,212 | |
Forward starting transactions - reverse repurchase agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 21,941 | 9,042 | |
Forward starting transactions - reverse repurchase agreements | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 20,284 | [1] | 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 | 1,657 | [1] | 925 |
Forward starting transactions - securities borrowing agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 12 | ||
Forward starting transactions - securities borrowing agreements | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 12 | ||
Forward starting transactions - repurchase agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 8,148 | 8,326 | |
Forward starting transactions - repurchase agreements | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 7,740 | [1] | 7,926 |
Forward starting transactions - repurchase agreements | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 408 | [1] | 400 |
UBS AG | Guarantees | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 19,128 | 19,785 | |
Sub-participations | (2,646) | (2,803) | |
Net irrevocable amount | 16,482 | 16,982 | |
UBS AG | Guarantees | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 986 | 1,639 | |
UBS AG | Guarantees | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 18,142 | 18,146 | |
UBS AG | Loan commitments | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 33,856 | 34,747 | |
Sub-participations | (787) | (647) | |
Net irrevocable amount | 33,069 | 34,099 | |
UBS AG | Loan commitments | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 6,308 | 3,535 | |
UBS AG | Loan commitments | Not Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 27,547 | 31,212 | |
UBS AG | Forward starting transactions - reverse repurchase agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 21,941 | 9,042 | |
UBS AG | Forward starting transactions - reverse repurchase agreements | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 20,284 | 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 | 1,657 | 925 | |
UBS AG | Forward starting transactions - securities borrowing agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 12 | ||
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 | 12 | ||
UBS AG | Forward starting transactions - repurchase agreements | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 8,148 | 8,326 | |
UBS AG | Forward starting transactions - repurchase agreements | Measured At Fair Value [Member] | |||
Maximum Exposure To Credit Risk [Line Items] | |||
Gross maximum irrevocable amount | 7,740 | 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 | $ 408 | $ 400 | |
[1] | Cash to be paid in the future by either UBS or the counterparty. |
Related parties (Narrative) (De
Related parties (Narrative) (Detail) SFr in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019CHF (SFr)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018CHF (SFr)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017USD ($) | |
Related Parties [Line Items] | ||||||
Payments to external board members | SFr 7.3 | $ 7.3 | SFr 7.4 | $ 7.6 | SFr 7.1 | $ 7.1 |
Number of shares held by close family members of key management personnel | 0 | 0 | 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 2019, 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 2019, 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 2019 and 2018, 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 2019, 31 December 2018 and 31 December 2017, there were no outstanding balances related to such transactions. Furthermore, in 2019 and 2018, 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 2019 and 2018, and therefore also received no fees. | In 2019 and 2018, 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 2019, 31 December 2018 and 31 December 2017, there were no outstanding balances related to such transactions. Furthermore, in 2019 and 2018, 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 2019 and 2018, and therefore also received no fees. | ||||
UBS AG | ||||||
Related Parties [Line Items] | ||||||
Payments to external board members | SFr 7.3 | $ 7.3 | SFr 7.4 | $ 7.6 | SFr 7.1 | $ 7.1 |
Number of shares held by close family members of key management personnel | 0 | 0 | 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 2019, 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 2019, 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 2019 and 2018, 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 2019, 31 December 2018 and 31 December 2017, there were no outstanding balances related to such transactions. Furthermore, in 2019 and 2018, 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 2019 and 2018, and therefore also received no fees. | In 2019 and 2018, 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 2019, 31 December 2018 and 31 December 2017, there were no outstanding balances related to such transactions. Furthermore, in 2019 and 2018, 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 2019 and 2018, and therefore also received no fees. |
Related parties (Detail 1)
Related parties (Detail 1) SFr in Millions, $ in Millions | 12 Months Ended | |||||||||
Dec. 31, 2019CHF (SFr) | Dec. 31, 2019USD ($) | Dec. 31, 2018CHF (SFr) | Dec. 31, 2018USD ($) | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017USD ($) | |||||
Remuneration Of Key Management Personnel [Line Items] | ||||||||||
Base salaries and other cash payments | [1] | $ 32 | $ 27 | $ 25 | ||||||
Incentive awards - cash | [2] | 14 | 15 | 15 | ||||||
Annual incentive award under DCCP | 21 | 22 | 22 | |||||||
Employer's contributions to retirement benefit plans | 3 | 3 | 3 | |||||||
Benefits in kind, fringe benefits (at market value) | 1 | 2 | 2 | |||||||
Equity-based compensation | [3] | 37 | 40 | 40 | ||||||
Total | SFr 107 | [4] | $ 108 | SFr 107 | [4] | $ 109 | SFr 106 | [4] | $ 106 | |
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 | 0.99 | 0.99 | 0.98 | 0.98 | 1 | 1 | ||||
UBS AG | ||||||||||
Remuneration Of Key Management Personnel [Line Items] | ||||||||||
Base salaries and other cash payments | [1] | $ 30 | $ 25 | $ 24 | ||||||
Incentive awards - cash | [2] | 13 | 14 | 13 | ||||||
Annual incentive award under DCCP | 20 | 21 | 20 | |||||||
Employer's contributions to retirement benefit plans | 2 | 3 | 3 | |||||||
Benefits in kind, fringe benefits (at market value) | 1 | 2 | 2 | |||||||
Equity-based compensation | [3] | 34 | 38 | 36 | ||||||
Total | SFr 101 | [4] | $ 101 | SFr 100 | [4] | $ 102 | SFr 98 | [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 | 0.99 | 0.99 | 0.98 | 0.98 | 1 | 1 | ||||
[1] | May include role-based allowances in line with market practice and 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 five years. Refer to Note 30 for more information. For GEB members, equity-based compensation for 2019 was entirely comprised of LTIP awards and equity-based compensation for 2018 and 2017 was entirely comprised of EOP awards. For the Chairman of the BoD the equity-based compensation for 2019, 2018 and 2017 was entirely comprised of UBS shares. | |||||||||
[4] | Swiss franc amounts disclosed represent the respective US dollar amounts translated at the applicable performance award currency exchange rates (2019: USD / CHF 0.99; 2018: USD / CHF 0.98; 2017: USD / CHF 1.00). |
Related parties (Detail 2)
Related parties (Detail 2) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
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 | 0 | |
Number of shares held by members of the BoD, GEB and parties closely linked to them | [1] | 6,887,826 | 5,954,967 |
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 | 0 | |
Number of shares held by members of the BoD, GEB and parties closely linked to them | [1] | 6,609,848 | 5,676,989 |
[1] | Excludes shares granted under variable compensation plans with forfeiture provisions. |
Related parties (Detail 3)
Related parties (Detail 3) | 12 Months Ended | ||||||||||
Dec. 31, 2019CHF (SFr) | Dec. 31, 2019USD ($) | Dec. 31, 2018CHF (SFr) | Dec. 31, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | ||||||
Loans Advances And Mortgages To Key Management Personnel [Line Items] | |||||||||||
Balance at the beginning of the year | SFr 34,000,000 | $ 34,000,000 | [1],[2] | $ 42,000,000 | [1],[2] | ||||||
Additions | [1] | 9,000,000 | 15,000,000 | ||||||||
Reductions | [1] | (11,000,000) | (22,000,000) | ||||||||
Balance at the end of the year | 32,000,000 | 33,000,000 | [1],[2] | SFr 34,000,000 | 34,000,000 | [1],[2] | |||||
Unused uncommitted credit facilities of one GEB and one BoD member | 0 | 2,949,690 | $ 0 | $ 3,000,000 | |||||||
UBS AG | |||||||||||
Loans Advances And Mortgages To Key Management Personnel [Line Items] | |||||||||||
Balance at the beginning of the year | [3] | 27,000,000 | [1],[4] | 28,000,000 | 34,000,000 | [1] | |||||
Additions | [1] | 6,000,000 | 15,000,000 | ||||||||
Reductions | [1] | (11,000,000) | (22,000,000) | ||||||||
Balance at the end of the year | [3] | 22,000,000 | [1],[4] | $ 23,000,000 | 27,000,000 | [1],[4] | $ 28,000,000 | ||||
Unused uncommitted credit facilities of one GEB and one BoD member | SFr 0 | SFr 2,949,690 | $ 0 | $ 3,000,000 | |||||||
[1] | All loans are secured loans | ||||||||||
[2] | No unused uncommitted credit facilities as of 31 December 2019. Excludes unused uncommitted credit facilities for one GEB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018. | ||||||||||
[3] | No unused uncommitted credit facilities as of 31 December 2019. Excludes unused uncommitted credit facilities for one EB member of USD 3,000,000 (CHF 2,949,690) as of 31 December 2018. | ||||||||||
[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, 2019 | Dec. 31, 2018 | |
Outstanding Balances For Related Party Transactions [Line Items] | ||
Carrying amount at the beginning of the year | $ 829 | $ 565 |
Additions | 145 | 276 |
Reductions | (5) | (13) |
Foreign currency translation | 13 | 0 |
Carrying amount at the end of the year | 982 | 829 |
of which: unsecured loans | 971 | 818 |
Other transactions with associates and joint ventures | ||
Payments to associates and joint ventures for goods and services received | 124 | 177 |
Fees received for services provided to associates and joint ventures | 1 | 4 |
Liabilities to associates and joint ventures | 101 | |
Commitments and contingent liabilities to associates and joint ventures | 1,598 | 4 |
UBS AG | ||
Outstanding Balances For Related Party Transactions [Line Items] | ||
Carrying amount at the beginning of the year | 829 | 565 |
Additions | 145 | 276 |
Reductions | (5) | (13) |
Foreign currency translation | 13 | 0 |
Carrying amount at the end of the year | 982 | 829 |
of which: unsecured loans | 971 | 818 |
Other transactions with associates and joint ventures | ||
Payments to associates and joint ventures for goods and services received | 124 | 177 |
Fees received for services provided to associates and joint ventures | 1 | 4 |
Liabilities to associates and joint ventures | 101 | |
Commitments and contingent liabilities to associates and joint ventures | $ 1,598 | $ 4 |
Related parties (Detail 5)
Related parties (Detail 5) - UBS AG - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Receivables | |||
Loans and advances to customers | $ 1,255 | $ 1,161 | |
Financial assets at fair value held for trading | 180 | 139 | |
Other financial assets measured at amortized cost | 60 | 105 | |
Payables | |||
Customer deposits | 2,314 | 2,152 | |
Funding from UBS Group AG and its subsidiaries | [1],[2],[3] | 47,866 | 41,202 |
Other financial liabilities measured at amortized cost | 1,829 | $ 1,711 | |
Other financial liabilities designated at fair value | [4] | $ 217 | |
[1] | All balances in 2019 are against UBS Group AG as counterparty. Prior year balances were against UBS Group Funding (Switzerland) AG as counterparty | ||
[2] | Represents funding from UBS Group AG to UBS AG. | ||
[3] | UBS AG has also recognized funding from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. | ||
[4] | Represents funding recognized from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. |
Invested assets and net new m_3
Invested assets and net new money (Detail 1) - USD ($) $ in Billions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Invested Assets And Net New Money [Line Items] | ||||
Fund assets managed by UBS | $ 358 | $ 342 | ||
Discretionary assets | 1,209 | 999 | ||
Other invested assets | 2,040 | 1,760 | ||
Total invested assets | [1] | 3,607 | 3,101 | $ 3,262 |
of which: double counts | 248 | 213 | ||
Net new money | [1] | 51 | 59 | |
UBS AG | ||||
Invested Assets And Net New Money [Line Items] | ||||
Fund assets managed by UBS | 358 | 342 | ||
Discretionary assets | 1,209 | 999 | ||
Other invested assets | 2,040 | 1,760 | ||
Total invested assets | [1] | 3,607 | 3,101 | $ 3,262 |
of which: double counts | 248 | 213 | ||
Net new money | [1] | $ 51 | $ 59 | |
[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, 2019 | Dec. 31, 2018 | ||
Development Of Invested Assets [Line Items] | |||
Total invested assets at the beginning of the year | [1] | $ 3,101 | $ 3,262 |
Net new money | [1] | 51 | 59 |
Market movements | [2] | 444 | (180) |
Foreign currency translation | 6 | (35) | |
Other effects | 5 | (5) | |
of which: acquisitions / (divestments) | (1) | 7 | |
Total invested assets at the end of the year | [1] | 3,607 | 3,101 |
UBS AG | |||
Development Of Invested Assets [Line Items] | |||
Total invested assets at the beginning of the year | [1] | 3,101 | 3,262 |
Net new money | [1] | 51 | 59 |
Market movements | [2] | 444 | (180) |
Foreign currency translation | 6 | (35) | |
Other effects | 5 | (5) | |
of which: acquisitions / (divestments) | (1) | 7 | |
Total invested assets at the end of the year | [1] | $ 3,607 | $ 3,101 |
[1] | Includes double counts. | ||
[2] | Includes interest and dividend income. |
Currency translation rates (Det
Currency translation rates (Detail) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
1 CHF | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.03 | 1.02 | ||
Average rate | [1] | 1.01 | 1.02 | 1.02 |
1 EUR | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.12 | 1.15 | ||
Average rate | [1] | 1.12 | 1.18 | 1.14 |
1 GBP | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.32 | 1.28 | ||
Average rate | [1] | 1.28 | 1.33 | 1.3 |
100 JPY | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 0.92 | 0.91 | ||
Average rate | [1] | 0.92 | 0.91 | 0.89 |
UBS AG | 1 CHF | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.03 | 1.02 | ||
Average rate | [2] | 1.01 | 1.02 | 1.02 |
UBS AG | 1 EUR | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.12 | 1.15 | ||
Average rate | [2] | 1.12 | 1.18 | 1.14 |
UBS AG | 1 GBP | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 1.32 | 1.28 | ||
Average rate | [2] | 1.28 | 1.33 | 1.3 |
UBS AG | 100 JPY | ||||
Foreign Exchange Rates [Line Items] | ||||
Closing exchange rate | 0.92 | 0.91 | ||
Average rate | [2] | 0.92 | 0.91 | 0.89 |
[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. | |||
[2] | 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. |
Main differences between IFRS_2
Main differences between IFRS and Swiss GAAP (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019USD ($) | |
Supplemental Guarantor Information [Line Items] | |
Joint and several liability | $ 17 |
Increase decrease in joint and several liability | $ (9) |
Supplemental guarantor consolid
Supplemental guarantor consolidated income statement (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Condensed Income Statements Captions [Line Items] | ||||
Net interest income | [1],[2],[3],[4] | $ 4,501 | $ 5,048 | $ 6,070 |
Credit loss (expense) / recovery | [1] | (78) | (118) | (131) |
Fee and commission income | [5] | 19,110 | 19,598 | 19,362 |
Fee and commission expense | (1,696) | (1,703) | (1,840) | |
Net fee and commission income | 17,413 | 17,895 | 17,522 | |
Other income | 212 | 428 | 524 | |
Total operating income | [1] | 28,889 | 30,213 | 29,622 |
Personnel expenses | [1] | 16,084 | 16,132 | 16,199 |
General and administrative expenses | [1] | 5,288 | 6,797 | 6,949 |
Depreciation and impairment of property, equipment and software | [1] | 1,765 | 1,228 | 1,053 |
Total operating expenses | [1] | 23,312 | 24,222 | 24,272 |
Operating profit / (loss) before tax | [1] | 5,577 | 5,991 | 5,351 |
Tax expense / (benefit) | [1] | 1,267 | 1,468 | 4,305 |
Net profit / (loss) | [1] | 4,310 | 4,522 | 1,046 |
Net profit / (loss) attributable to non-controlling interests | 6 | 7 | 77 | |
Net profit / (loss) attributable to shareholders | 4,304 | 4,516 | 969 | |
UBS AG (consolidated) | ||||
Condensed Income Statements Captions [Line Items] | ||||
Interest income | [6] | 15,421 | 14,787 | 12,717 |
Interest expense | [6] | (11,006) | (9,815) | (6,696) |
Net interest income | [1],[6],[7],[8],[9] | 4,415 | 4,971 | 6,021 |
Other net income from financial instruments measured at fair value through profit or loss | [6] | 6,833 | 6,953 | 5,640 |
Credit loss (expense) / recovery | [1],[6] | (78) | (117) | (131) |
Fee and commission income | [6],[10] | 19,156 | 19,632 | 19,390 |
Fee and commission expense | [6] | (1,696) | (1,703) | (1,840) |
Net fee and commission income | [6] | 17,460 | 17,930 | 17,550 |
Other income | [6] | 677 | 905 | 965 |
Total operating income | [1],[6] | 29,307 | 30,642 | 30,044 |
Personnel expenses | [1] | 13,801 | 13,992 | 14,952 |
General and administrative expenses | [1] | 8,586 | 10,075 | 9,001 |
Depreciation and impairment of property, equipment and software | [1] | 1,576 | 1,052 | 945 |
Total operating expenses | [1] | 24,138 | 25,184 | 24,969 |
Operating profit / (loss) before tax | [1] | 5,169 | 5,458 | 5,076 |
Tax expense / (benefit) | [1] | 1,198 | 1,345 | 4,242 |
Net profit / (loss) | [1] | 3,971 | 4,113 | 834 |
Net profit / (loss) attributable to preferred noteholders | 0 | 0 | 73 | |
Net profit / (loss) attributable to non-controlling interests | 6 | 7 | 4 | |
Net profit / (loss) attributable to shareholders | 3,965 | 4,107 | 758 | |
UBS AG (consolidated) | Elimination entries | ||||
Condensed Income Statements Captions [Line Items] | ||||
Interest income | [6] | (3,028) | (2,960) | (2,338) |
Interest expense | [6] | 3,070 | 2,998 | 2,245 |
Net interest income | [6] | 42 | 38 | (93) |
Other net income from financial instruments measured at fair value through profit or loss | [6] | (322) | (110) | 64 |
Credit loss (expense) / recovery | [6] | 0 | (19) | 40 |
Fee and commission income | [6] | (997) | (656) | (911) |
Fee and commission expense | [6] | 986 | 648 | 865 |
Net fee and commission income | [6] | (11) | (8) | (46) |
Other income | [6] | (6,504) | (6,125) | (6,616) |
Total operating income | [6] | (6,795) | (6,223) | (6,651) |
Personnel expenses | 0 | 0 | 0 | |
General and administrative expenses | (2,627) | (3,490) | (5,081) | |
Depreciation and impairment of property, equipment and software | (108) | 0 | 0 | |
Amortization and impairment of intangible assets | (88) | 0 | 0 | |
Total operating expenses | (2,823) | (3,490) | (5,081) | |
Operating profit / (loss) before tax | (3,972) | (2,733) | (1,570) | |
Tax expense / (benefit) | (21) | 73 | 0 | |
Net profit / (loss) | (3,951) | (2,806) | (1,570) | |
Net profit / (loss) attributable to preferred noteholders | 0 | |||
Net profit / (loss) attributable to non-controlling interests | 0 | 0 | 0 | |
Net profit / (loss) attributable to shareholders | (3,951) | (2,806) | (1,569) | |
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | ||||
Condensed Income Statements Captions [Line Items] | ||||
Interest income | [6],[11] | 8,966 | 8,176 | 7,219 |
Interest expense | [6],[11] | (9,472) | (8,673) | (6,101) |
Net interest income | [6],[11] | (506) | (497) | 1,118 |
Other net income from financial instruments measured at fair value through profit or loss | [6],[11] | 5,116 | 5,204 | 3,821 |
Credit loss (expense) / recovery | [6],[11] | (51) | (37) | (139) |
Fee and commission income | [6],[11] | 3,285 | 2,655 | 2,561 |
Fee and commission expense | [6],[11] | (674) | (851) | (968) |
Net fee and commission income | [6],[11] | 2,610 | 1,804 | 1,594 |
Other income | [6],[11] | 4,962 | 4,722 | 4,387 |
Total operating income | [6],[11] | 12,131 | 11,196 | 10,780 |
Personnel expenses | [11] | 3,251 | 3,592 | 4,488 |
General and administrative expenses | [11] | 3,467 | 4,691 | 4,922 |
Depreciation and impairment of property, equipment and software | [11] | 861 | 715 | 664 |
Amortization and impairment of intangible assets | [11] | 94 | 3 | 8 |
Total operating expenses | [11] | 7,672 | 9,001 | 10,082 |
Operating profit / (loss) before tax | [11] | 4,458 | 2,195 | 698 |
Tax expense / (benefit) | [11] | 176 | 25 | 458 |
Net profit / (loss) | [11] | 4,283 | 2,170 | 240 |
Net profit / (loss) attributable to preferred noteholders | [11] | 73 | ||
Net profit / (loss) attributable to non-controlling interests | [11] | 0 | 0 | 0 |
Net profit / (loss) attributable to shareholders | [11] | 4,283 | 2,170 | 168 |
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | ||||
Condensed Income Statements Captions [Line Items] | ||||
Interest income | [6],[11] | 4,104 | 4,263 | 4,063 |
Interest expense | [6],[11] | (1,021) | (901) | (680) |
Net interest income | [6],[11] | 3,083 | 3,363 | 3,383 |
Other net income from financial instruments measured at fair value through profit or loss | [6],[11] | 924 | 889 | 918 |
Credit loss (expense) / recovery | [6],[11] | 7 | (52) | (23) |
Fee and commission income | [6],[11] | 4,342 | 4,474 | 4,424 |
Fee and commission expense | [6],[11] | (819) | (391) | (380) |
Net fee and commission income | [6],[11] | 3,523 | 4,083 | 4,045 |
Other income | [6],[11] | 259 | 198 | 172 |
Total operating income | [6],[11] | 7,796 | 8,480 | 8,495 |
Personnel expenses | [11] | 1,936 | 1,890 | 2,060 |
General and administrative expenses | [11] | 3,181 | 3,471 | 3,400 |
Depreciation and impairment of property, equipment and software | [11] | 221 | 21 | 11 |
Amortization and impairment of intangible assets | [11] | 0 | 0 | 0 |
Total operating expenses | [11] | 5,338 | 5,382 | 5,472 |
Operating profit / (loss) before tax | [11] | 2,458 | 3,098 | 3,023 |
Tax expense / (benefit) | [11] | 514 | 670 | 628 |
Net profit / (loss) | [11] | 1,944 | 2,428 | 2,395 |
Net profit / (loss) attributable to preferred noteholders | [11] | 0 | ||
Net profit / (loss) attributable to non-controlling interests | [11] | 0 | 0 | 0 |
Net profit / (loss) attributable to shareholders | [11] | 1,944 | 2,428 | 2,395 |
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | ||||
Condensed Income Statements Captions [Line Items] | ||||
Interest income | [6],[12] | 5,380 | 5,308 | 3,774 |
Interest expense | [6],[12] | (3,583) | (3,240) | (2,161) |
Net interest income | [6],[12] | 1,796 | 2,068 | 1,613 |
Other net income from financial instruments measured at fair value through profit or loss | [6],[12] | 1,114 | 970 | 836 |
Credit loss (expense) / recovery | [6],[12] | (33) | (9) | (9) |
Fee and commission income | [6],[12] | 12,527 | 13,159 | 13,315 |
Fee and commission expense | [6],[12] | (1,188) | (1,108) | (1,357) |
Net fee and commission income | [6],[12] | 11,338 | 12,050 | 11,958 |
Other income | [6],[12] | 1,960 | 2,110 | 3,022 |
Total operating income | [6],[12] | 16,176 | 17,189 | 17,420 |
Personnel expenses | [12] | 8,614 | 8,510 | 8,403 |
General and administrative expenses | [12] | 4,565 | 5,403 | 5,760 |
Depreciation and impairment of property, equipment and software | [12] | 602 | 316 | 270 |
Amortization and impairment of intangible assets | [12] | 170 | 62 | 63 |
Total operating expenses | [12] | 13,951 | 14,291 | 14,496 |
Operating profit / (loss) before tax | [12] | 2,225 | 2,898 | 2,924 |
Tax expense / (benefit) | [12] | 530 | 577 | 3,156 |
Net profit / (loss) | [12] | 1,695 | 2,321 | (232) |
Net profit / (loss) attributable to preferred noteholders | [12] | 0 | ||
Net profit / (loss) attributable to non-controlling interests | [12] | 6 | 7 | 4 |
Net profit / (loss) attributable to shareholders | [12] | $ 1,689 | $ 2,314 | $ (236) |
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[2] | Effective 1 January 2018, UBS adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[3] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[4] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on the Group arising from the Investment Bank. Refer to Note 1b for more information. | |||
[5] | For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,355 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 94 million for Corporate Center (for the year ended 31 December 2018: 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). | |||
[6] | Effective 1 January 2019, UBS AG, UBS Switzerland AG and certain other subsidiaries refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[7] | Effective 1 January 2018, UBS AG adopted IFRS 9, Financial Instruments, which resulted in a prospective change in the classification of certain financial instruments. 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 the Annual Report 2018 for more information. | |||
[8] | Effective 1 January 2019, UBS AG refined the presentation of dividend income and expense, reclassifying dividends from Interest income (expense) from financial instruments measured at fair value through profit or loss to Other net income from financial instruments measured at fair value through profit or loss. Prior-year comparative information was restated accordingly. Refer to Note 1b for more information. | |||
[9] | Effective 1 January 2019, UBS refined the presentation of dividend income and expense, reclassifying dividends from financial instruments measured at fair value through profit or loss from Net interest income to Non-interest income. Prior-period information was restated accordingly, with virtually all of the effect on UBS AG arising from the Investment Bank. Refer to Note 1b for more information. | |||
[10] | For the year ended 31 December 2019, reflects third-party fee and commission income of USD 11,694 million for Global Wealth Management, USD 3,397 million for the Investment Bank, USD 2,659 million for Asset Management, USD 1,307 million for Personal & Corporate Banking and USD 98 million for Corporate Center (for the year ended 31 December 2018: 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). | |||
[11] | 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | |||
[12] | The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [1] | $ 4,310 | $ 4,522 | $ 1,046 |
Foreign currency translation, net of tax | (4) | (1) | 250 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 1,363 | (855) | 838 | |
Defined benefit plans, net of tax | (186) | 56 | 296 | |
Own credit on financial liabilities designated at fair value, net of tax | (392) | 509 | (317) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (582) | 563 | 229 | |
Total other comprehensive income | 781 | (292) | 1,068 | |
Total comprehensive income | 5,091 | 4,231 | 2,113 | |
Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 4,304 | 4,516 | 969 | |
Foreign currency translation, net of tax | 104 | (541) | 1,564 | |
Financial assets measured at fair value through other comprehensive income, net of tax | 117 | (45) | (91) | |
Cash flow hedges, net of tax | 1,143 | (269) | (635) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 1,363 | (855) | 838 | |
Defined benefit plans, net of tax | (186) | 56 | 296 | |
Own credit on financial liabilities designated at fair value, net of tax | (392) | 509 | (317) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (578) | 565 | (20) | |
Total other comprehensive income | 785 | (290) | 818 | |
Total comprehensive income | 5,089 | 4,225 | 1,787 | |
Comprehensive income attributable to non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 6 | 7 | 77 | |
Foreign currency translation, net of tax | (4) | (1) | 250 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (4) | (1) | 250 | |
Total other comprehensive income | (4) | (1) | 250 | |
Total comprehensive income | 2 | 5 | 326 | |
UBS AG (consolidated) | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [1] | 3,971 | 4,113 | 834 |
Foreign currency translation, net of tax | (4) | (1) | 250 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 1,351 | (829) | 797 | |
Defined benefit plans, net of tax | (170) | 175 | 314 | |
Own credit on financial liabilities designated at fair value, net of tax | (392) | 509 | (317) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (566) | 682 | 247 | |
Total other comprehensive income | 785 | (147) | 1,044 | |
Total comprehensive income | 4,756 | 3,967 | 1,878 | |
UBS AG (consolidated) | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 3,965 | 4,107 | 758 | |
Foreign currency translation, net of tax | 92 | (515) | 1,522 | |
Financial assets measured at fair value through other comprehensive income, net of tax | 117 | (45) | (91) | |
Cash flow hedges, net of tax | 1,143 | (269) | (635) | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | 1,351 | (829) | 797 | |
Defined benefit plans, net of tax | (170) | 175 | 314 | |
Own credit on financial liabilities designated at fair value, net of tax | (392) | 509 | (317) | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (562) | 684 | (3) | |
Total other comprehensive income | 789 | (145) | 794 | |
Total comprehensive income | 4,754 | 3,961 | 1,552 | |
UBS AG (consolidated) | Comprehensive income attributable to preferred noteholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 73 | |||
Foreign currency translation, net of tax | 0 | 0 | 247 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | 0 | 0 | 247 | |
Total other comprehensive income | 0 | 0 | 247 | |
Total comprehensive income | 0 | 0 | 320 | |
UBS AG (consolidated) | Comprehensive income attributable to non-controlling interests | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | 6 | 7 | 4 | |
Foreign currency translation, net of tax | (4) | (1) | 2 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (4) | (1) | 2 | |
Total other comprehensive income | (4) | (1) | 2 | |
Total comprehensive income | 2 | 5 | 6 | |
UBS AG (consolidated) | Elimination entries | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | (3,951) | (2,806) | (1,570) | |
Total comprehensive income | (4,062) | (3,071) | (317) | |
UBS AG (consolidated) | Elimination entries | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | (3,951) | (2,806) | (1,569) | |
Foreign currency translation, net of tax | (85) | (252) | 1,318 | |
Financial assets measured at fair value through other comprehensive income, net of tax | 0 | 0 | (93) | |
Cash flow hedges, net of tax | (15) | (13) | 2 | |
Total other comprehensive income that may be reclassified to the income statement, net of tax | (100) | (265) | 1,226 | |
Defined benefit plans, net of tax | (11) | 0 | 26 | |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | (11) | 0 | 26 | |
Total other comprehensive income | (111) | (265) | 1,252 | |
Total comprehensive income | (4,062) | (3,071) | (317) | |
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [2] | 4,283 | 2,170 | 240 |
Total comprehensive income | [3] | 4,671 | 2,122 | 2,148 |
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [3] | 4,283 | 2,170 | 168 |
Foreign currency translation, net of tax | [3] | (12) | (369) | 2,177 |
Financial assets measured at fair value through other comprehensive income, net of tax | [3] | 0 | 0 | (10) |
Cash flow hedges, net of tax | [3] | 870 | (277) | (474) |
Total other comprehensive income that may be reclassified to the income statement, net of tax | [3] | 859 | (646) | 1,693 |
Defined benefit plans, net of tax | [3] | (78) | 89 | 284 |
Own credit on financial liabilities designated at fair value, net of tax | [3] | (392) | 509 | (317) |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | [3] | (470) | 598 | (33) |
Total other comprehensive income | [3] | 388 | (48) | 1,660 |
Total comprehensive income | [3] | 4,671 | 2,122 | 1,828 |
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 | [3] | 320 | ||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [2] | 1,944 | 2,428 | 2,395 |
Total comprehensive income | [3] | 2,228 | 2,195 | 2,713 |
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) | [3] | 1,944 | 2,428 | 2,395 |
Foreign currency translation, net of tax | [3] | 150 | (109) | 500 |
Financial assets measured at fair value through other comprehensive income, net of tax | [3] | 0 | 0 | 2 |
Cash flow hedges, net of tax | [3] | 140 | 2 | (162) |
Total other comprehensive income that may be reclassified to the income statement, net of tax | [3] | 290 | (107) | 340 |
Defined benefit plans, net of tax | [3] | (6) | (126) | (22) |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | [3] | (6) | (126) | (22) |
Total other comprehensive income | [3] | 284 | (233) | 318 |
Total comprehensive income | [3] | 2,228 | 2,195 | 2,713 |
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [4] | 1,695 | 2,321 | (232) |
Total comprehensive income | [5] | 1,919 | 2,721 | (2,665) |
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | Comprehensive income attributable to shareholders | ||||
Condensed Statement Of Income Captions [Line Items] | ||||
Net profit / (loss) | [5] | 1,689 | 2,314 | (236) |
Foreign currency translation, net of tax | [5] | 39 | 215 | (2,473) |
Financial assets measured at fair value through other comprehensive income, net of tax | [5] | 117 | (45) | 11 |
Cash flow hedges, net of tax | [5] | 147 | 19 | (1) |
Total other comprehensive income that may be reclassified to the income statement, net of tax | [5] | 303 | 189 | (2,463) |
Defined benefit plans, net of tax | [5] | (75) | 212 | 27 |
Total other comprehensive income that will not be reclassified to the income statement, net of tax | [5] | (75) | 212 | 27 |
Total other comprehensive income | [5] | 228 | 401 | (2,436) |
Total comprehensive income | [5] | 1,917 | 2,715 | (2,672) |
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 | [5] | $ 2 | $ 5 | $ 6 |
[1] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||
[2] | 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | |||
[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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | |||
[4] | The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, as well as standalone information for other subsidiaries. | |||
[5] | The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, as well as standalone information for other subsidiaries. |
Supplemental guarantor consol_3
Supplemental guarantor consolidated balance sheet (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Assets | ||||||
Cash and balances at central banks | $ 107,068 | $ 108,370 | ||||
Loans and advances to banks | 12,447 | 16,868 | ||||
Receivables from securities financing transactions | 84,245 | 95,349 | ||||
Cash collateral receivables on derivative instruments | 23,289 | 23,602 | ||||
Loans and advances to customers | 326,786 | 320,352 | ||||
Other financial assets measured at amortized cost | 22,980 | 22,563 | ||||
Total financial assets measured at amortized cost | 576,815 | 587,104 | ||||
Financial assets at fair value held for trading | 127,514 | 104,370 | ||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 41,285 | 32,121 | ||||
Derivative financial instruments | [1],[2],[3] | 121,841 | 126,210 | |||
Brokerage receivables | 18,007 | 16,840 | ||||
Financial assets at fair value not held for trading | [4] | 83,944 | 82,690 | |||
Total financial assets measured at fair value through profit or loss | 351,307 | 330,110 | ||||
Financial assets measured at fair value through other comprehensive income | [5] | 6,345 | 6,667 | |||
Investments in subsidiaries | 1,051 | 1,099 | $ 1,045 | |||
Property, equipment and software | 12,804 | 9,348 | ||||
Goodwill and intangible assets | 6,469 | 6,647 | ||||
Deferred tax assets | [6] | 9,537 | 10,105 | |||
Other non-financial assets | 7,856 | 7,410 | ||||
Total assets | [7] | 972,183 | 958,489 | 939,279 | ||
Liabilities | ||||||
Amounts due to banks | 6,570 | 10,962 | ||||
Payables from securities financing transactions | 7,778 | 10,296 | ||||
Cash collateral payables on derivative instruments | 31,415 | 28,906 | ||||
Customer deposits | 448,284 | 419,838 | ||||
Debt issued measured at amortized cost | [8] | 110,497 | 132,271 | |||
Other financial liabilities measured at amortized cost | 9,712 | 6,885 | ||||
Total financial liabilities measured at amortized cost | 614,256 | 609,158 | ||||
Financial liabilities at fair value held for trading | [9],[10],[11] | 30,591 | 28,943 | |||
Derivative financial instruments | [1],[2],[3],[9],[11] | 120,880 | 125,723 | |||
Brokerage payables designated at fair value | 37,233 | 38,420 | ||||
Other financial liabilities designated at fair value | [12] | 35,940 | 33,594 | |||
Debt issued designated at fair value | 66,809 | 57,031 | ||||
Total financial liabilities measured at fair value through profit or loss | 291,452 | 283,711 | ||||
Provisions | 2,974 | 3,494 | ||||
Other non-financial liabilities | 8,794 | 9,022 | ||||
Total liabilities | 917,476 | 905,386 | ||||
Equity | ||||||
Equity attributable to shareholders | 54,533 | 52,928 | ||||
Equity attributable to non-controlling interests | 174 | 176 | ||||
Total equity | 54,707 | 53,092 | ||||
Total equity before the adoption of IFRIC 23 | 53,103 | 51,938 | ||||
Total liabilities and equity | 972,183 | 958,489 | ||||
UBS AG (consolidated) | ||||||
Assets | ||||||
Cash and balances at central banks | 107,068 | 108,370 | ||||
Loans and advances to banks | 12,379 | 16,642 | ||||
Receivables from securities financing transactions | 84,245 | 95,349 | ||||
Cash collateral receivables on derivative instruments | 23,289 | 23,603 | ||||
Loans and advances to customers | 327,992 | 321,482 | ||||
Other financial assets measured at amortized cost | 23,012 | 22,637 | ||||
Total financial assets measured at amortized cost | 577,985 | 588,084 | ||||
Financial assets at fair value held for trading | 127,695 | 104,513 | ||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 41,285 | 32,121 | ||||
Derivative financial instruments | [1],[3],[13] | 121,843 | 126,212 | |||
Brokerage receivables | 18,007 | 16,840 | ||||
Financial assets at fair value not held for trading | [4] | 83,636 | 82,387 | |||
Total financial assets measured at fair value through profit or loss | 351,181 | 329,953 | ||||
Financial assets measured at fair value through other comprehensive income | [5] | 6,345 | 6,667 | |||
Investments in subsidiaries | 1,051 | 1,099 | 1,045 | |||
Property, equipment and software | 11,826 | [14],[15] | 8,479 | |||
Goodwill and intangible assets | 6,469 | 6,647 | ||||
Deferred tax assets | [6] | 9,513 | 10,066 | |||
Other non-financial assets | 7,547 | 7,062 | ||||
Total assets | [7] | 971,916 | 958,055 | 940,020 | ||
Liabilities | ||||||
Amounts due to banks | 6,570 | 10,962 | ||||
Payables from securities financing transactions | 7,778 | 10,296 | ||||
Cash collateral payables on derivative instruments | 31,416 | 28,906 | ||||
Customer deposits | 450,591 | 421,986 | ||||
Funding from UBS Group AG and its subsidiaries | [16],[17],[18] | 47,866 | 41,202 | |||
Debt issued measured at amortized cost | [8] | 62,835 | 91,245 | |||
Other financial liabilities measured at amortized cost | 10,373 | 7,576 | ||||
Total financial liabilities measured at amortized cost | 617,429 | 612,174 | ||||
Financial liabilities at fair value held for trading | 30,591 | 28,949 | ||||
Derivative financial instruments | [1],[3],[13] | 120,880 | 125,723 | |||
Brokerage payables designated at fair value | 37,233 | 38,420 | ||||
Other financial liabilities designated at fair value | [12] | 36,157 | 33,594 | |||
Debt issued designated at fair value | 66,592 | 57,031 | ||||
Total financial liabilities measured at fair value through profit or loss | 291,452 | 283,717 | ||||
Provisions | 2,938 | 3,457 | ||||
Other non-financial liabilities | 6,168 | 6,275 | ||||
Total liabilities | 917,988 | 905,624 | ||||
Equity | ||||||
Equity attributable to shareholders | 53,754 | 52,256 | ||||
Equity attributable to non-controlling interests | 174 | 176 | ||||
Total equity | 53,928 | 52,421 | ||||
Total equity before the adoption of IFRIC 23 | 52,432 | $ 51,429 | ||||
Total liabilities and equity | 971,916 | 958,055 | ||||
UBS AG (consolidated) | Elimination entries | ||||||
Assets | ||||||
Loans and advances to banks | (45,931) | (45,978) | ||||
Receivables from securities financing transactions | (27,771) | (54,932) | ||||
Cash collateral receivables on derivative instruments | (9,038) | (12,240) | ||||
Loans and advances to customers | (17,612) | (21,838) | ||||
Other financial assets measured at amortized cost | (2,327) | (1,869) | ||||
Total financial assets measured at amortized cost | (102,679) | (136,857) | ||||
Financial assets at fair value held for trading | (1,479) | (3,911) | ||||
of which: assets pledged as collateral that may be sold or repledged by counterparties | (22,701) | (24,714) | ||||
Derivative financial instruments | (30,899) | (35,972) | ||||
Brokerage receivables | (1) | (2) | ||||
Financial assets at fair value not held for trading | (14,498) | (16,566) | ||||
Total financial assets measured at fair value through profit or loss | (46,877) | (56,451) | ||||
Investments in subsidiaries | (50,227) | (49,922) | ||||
Property, equipment and software | (385) | (24) | ||||
Goodwill and intangible assets | 35 | (56) | ||||
Deferred tax assets | 52 | |||||
Other non-financial assets | (140) | 14 | ||||
Total assets | (200,273) | (243,244) | ||||
Liabilities | ||||||
Amounts due to banks | (113,181) | (94,618) | ||||
Payables from securities financing transactions | (27,696) | (55,008) | ||||
Cash collateral payables on derivative instruments | (9,027) | (12,118) | ||||
Customer deposits | 38,861 | 16,994 | ||||
Debt issued measured at amortized cost | (70) | (573) | ||||
Other financial liabilities measured at amortized cost | (2,842) | (1,838) | ||||
Total financial liabilities measured at amortized cost | (113,954) | (147,161) | ||||
Financial liabilities at fair value held for trading | (1,317) | (3,828) | ||||
Derivative financial instruments | (30,852) | (36,025) | ||||
Brokerage payables designated at fair value | (3) | (14) | ||||
Other financial liabilities designated at fair value | (3,445) | (5,959) | ||||
Debt issued designated at fair value | (38) | (17) | ||||
Total financial liabilities measured at fair value through profit or loss | (35,655) | (45,843) | ||||
Provisions | 83 | |||||
Other non-financial liabilities | 34 | 47 | ||||
Total liabilities | (149,576) | (192,875) | ||||
Equity | ||||||
Equity attributable to shareholders | (50,697) | (50,369) | ||||
Total equity | (50,697) | (50,369) | ||||
Total liabilities and equity | (200,273) | (243,244) | ||||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | ||||||
Assets | ||||||
Cash and balances at central banks | 36,386 | [19] | 36,350 | [20] | ||
Loans and advances to banks | 32,888 | [19] | 34,063 | [20] | ||
Receivables from securities financing transactions | 56,946 | [19] | 70,028 | [20] | ||
Cash collateral receivables on derivative instruments | 22,830 | [19] | 23,136 | [20] | ||
Loans and advances to customers | 88,386 | [19] | 93,141 | [20] | ||
Other financial assets measured at amortized cost | 5,723 | [19] | 4,696 | [20] | ||
Total financial assets measured at amortized cost | 243,159 | [19] | 261,415 | [20] | ||
Financial assets at fair value held for trading | 113,802 | [19] | 92,784 | [20] | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 58,599 | [19] | 49,509 | [20] | ||
Derivative financial instruments | 118,708 | [19] | 119,590 | [20] | ||
Brokerage receivables | 11,453 | [19] | 11,063 | |||
Financial assets at fair value not held for trading | 49,525 | [19] | 50,592 | [20] | ||
Total financial assets measured at fair value through profit or loss | 293,488 | [19] | 274,030 | [20] | ||
Financial assets measured at fair value through other comprehensive income | 176 | [19] | 171 | [20] | ||
Investments in subsidiaries | 51,212 | [19] | 50,971 | [20] | ||
Property, equipment and software | 7,318 | [19] | 6,546 | [20] | ||
Goodwill and intangible assets | 222 | [19] | 308 | [20] | ||
Deferred tax assets | 618 | [19] | 533 | [20] | ||
Other non-financial assets | 5,060 | [19] | 4,623 | [20] | ||
Total assets | 601,252 | [19] | 598,598 | [20] | ||
Liabilities | ||||||
Amounts due to banks | 55,738 | [19] | 36,430 | [20] | ||
Payables from securities financing transactions | 21,326 | [19] | 36,840 | [20] | ||
Cash collateral payables on derivative instruments | 30,571 | [19] | 28,096 | [20] | ||
Customer deposits | 85,954 | [19] | 77,180 | [20] | ||
Funding from UBS Group AG and its subsidiaries | [17] | 47,866 | [19] | 41,202 | [20] | |
Debt issued measured at amortized cost | 54,317 | [19] | 82,653 | [20] | ||
Other financial liabilities measured at amortized cost | 5,345 | [19] | 4,170 | [20] | ||
Total financial liabilities measured at amortized cost | 301,117 | [19] | 306,571 | [20] | ||
Financial liabilities at fair value held for trading | 25,292 | [19] | 23,455 | [20] | ||
Derivative financial instruments | 117,597 | [19] | 119,131 | [20] | ||
Brokerage payables designated at fair value | 25,358 | [19] | 26,559 | |||
Other financial liabilities designated at fair value | 8,571 | [19] | 10,936 | [20] | ||
Debt issued designated at fair value | 65,677 | [19] | 55,378 | [20] | ||
Total financial liabilities measured at fair value through profit or loss | 242,495 | [19] | 235,458 | [20] | ||
Provisions | 1,101 | [19] | 1,361 | [20] | ||
Other non-financial liabilities | 1,644 | [19] | 1,676 | [20] | ||
Total liabilities | 546,357 | [19] | 545,067 | [20] | ||
Equity | ||||||
Equity attributable to shareholders | 54,895 | [19] | 53,531 | [20] | ||
Total equity | 54,895 | [19] | 53,531 | [20] | ||
Total liabilities and equity | 601,252 | [19] | 598,598 | [20] | ||
UBS AG (consolidated) | UBS Switzerland AG (standalone) | Reportable legal entities | ||||||
Assets | ||||||
Cash and balances at central banks | 60,926 | [19] | 53,490 | [20] | ||
Loans and advances to banks | 7,992 | [19] | 7,405 | [20] | ||
Receivables from securities financing transactions | 12,536 | [19] | 28,637 | [20] | ||
Cash collateral receivables on derivative instruments | 990 | [19] | 559 | [20] | ||
Loans and advances to customers | 193,543 | [19] | 188,013 | [20] | ||
Other financial assets measured at amortized cost | 8,168 | [19] | 8,564 | [20] | ||
Total financial assets measured at amortized cost | 284,154 | [19] | 286,667 | [20] | ||
Financial assets at fair value held for trading | 53 | [19] | 62 | [20] | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 0 | [19] | 0 | [20] | ||
Derivative financial instruments | 4,251 | [19] | 3,834 | [20] | ||
Financial assets at fair value not held for trading | 6,701 | [19] | 7,177 | [20] | ||
Total financial assets measured at fair value through profit or loss | 11,004 | [19] | 11,073 | [20] | ||
Investments in subsidiaries | 28 | [19] | 20 | [20] | ||
Property, equipment and software | 1,144 | [19] | 242 | [20] | ||
Deferred tax assets | 0 | [19] | 198 | [20] | ||
Other non-financial assets | 1,770 | [19] | 1,659 | [20] | ||
Total assets | 298,101 | [19] | 299,860 | [20] | ||
Liabilities | ||||||
Amounts due to banks | 28,240 | [19] | 24,774 | [20] | ||
Payables from securities financing transactions | 565 | [19] | 1,167 | [20] | ||
Cash collateral payables on derivative instruments | 98 | [19] | 35 | [20] | ||
Customer deposits | 239,226 | [19] | 245,452 | [20] | ||
Debt issued measured at amortized cost | 8,583 | [19] | 8,578 | [20] | ||
Other financial liabilities measured at amortized cost | 2,666 | [19] | 1,454 | [20] | ||
Total financial liabilities measured at amortized cost | 279,379 | [19] | 281,460 | [20] | ||
Financial liabilities at fair value held for trading | 383 | [19] | 493 | [20] | ||
Derivative financial instruments | 4,046 | [19] | 3,510 | [20] | ||
Total financial liabilities measured at fair value through profit or loss | 4,429 | [19] | 4,004 | [20] | ||
Provisions | 196 | [19] | 163 | [20] | ||
Other non-financial liabilities | 931 | [19] | 929 | [20] | ||
Total liabilities | 284,936 | [19] | 286,556 | [20] | ||
Equity | ||||||
Equity attributable to shareholders | 13,165 | [19] | 13,304 | [20] | ||
Total equity | 13,165 | [19] | 13,304 | [20] | ||
Total liabilities and equity | 298,101 | [19] | 299,860 | [20] | ||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | ||||||
Assets | ||||||
Cash and balances at central banks | 9,756 | [21] | 18,530 | [22] | ||
Loans and advances to banks | 17,430 | [21] | 21,151 | [22] | ||
Receivables from securities financing transactions | 42,534 | [21] | 51,617 | [22] | ||
Cash collateral receivables on derivative instruments | 8,508 | [21] | 12,148 | [22] | ||
Loans and advances to customers | 63,676 | [21] | 62,166 | [22] | ||
Other financial assets measured at amortized cost | 11,448 | [21] | 11,247 | [22] | ||
Total financial assets measured at amortized cost | 153,351 | [21] | 176,858 | [22] | ||
Financial assets at fair value held for trading | 15,320 | [21] | 15,578 | [22] | ||
of which: assets pledged as collateral that may be sold or repledged by counterparties | 5,386 | [21] | 7,326 | [22] | ||
Derivative financial instruments | 29,782 | [21] | 38,760 | [22] | ||
Brokerage receivables | 6,556 | [21] | 5,779 | |||
Financial assets at fair value not held for trading | 41,908 | [21] | 41,184 | [22] | ||
Total financial assets measured at fair value through profit or loss | 93,565 | [21] | 101,300 | [22] | ||
Financial assets measured at fair value through other comprehensive income | 6,169 | [21] | 6,495 | [22] | ||
Investments in subsidiaries | 39 | [21] | 31 | [22] | ||
Property, equipment and software | 3,749 | [21] | 1,714 | [22] | ||
Goodwill and intangible assets | 6,212 | [21] | 6,395 | [22] | ||
Deferred tax assets | 8,895 | [21] | 9,282 | [22] | ||
Other non-financial assets | 857 | [21] | 766 | [22] | ||
Total assets | 272,837 | [21] | 302,842 | [22] | ||
Liabilities | ||||||
Amounts due to banks | 35,773 | [21] | 44,377 | [22] | ||
Payables from securities financing transactions | 13,583 | [21] | 27,297 | [22] | ||
Cash collateral payables on derivative instruments | 9,773 | [21] | 12,894 | [22] | ||
Customer deposits | 86,550 | [21] | 82,360 | [22] | ||
Debt issued measured at amortized cost | 5 | [21] | 587 | [22] | ||
Other financial liabilities measured at amortized cost | 5,204 | [21] | 3,790 | [22] | ||
Total financial liabilities measured at amortized cost | 150,888 | [21] | 171,305 | [22] | ||
Financial liabilities at fair value held for trading | 6,233 | [21] | 8,829 | [22] | ||
Derivative financial instruments | 30,089 | [21] | 39,107 | [22] | ||
Brokerage payables designated at fair value | 11,877 | [21] | 11,875 | |||
Other financial liabilities designated at fair value | 31,031 | [21] | 28,618 | [22] | ||
Debt issued designated at fair value | 952 | [21] | 1,670 | [22] | ||
Total financial liabilities measured at fair value through profit or loss | 80,184 | [21] | 90,098 | [22] | ||
Provisions | 1,641 | [21] | 1,850 | [22] | ||
Other non-financial liabilities | 3,559 | [21] | 3,623 | [22] | ||
Total liabilities | 236,271 | [21] | 266,876 | [22] | ||
Equity | ||||||
Equity attributable to shareholders | 36,391 | [21] | 35,790 | [22] | ||
Equity attributable to non-controlling interests | 174 | [21] | 176 | [22] | ||
Total equity | 36,566 | [21] | 35,966 | [22] | ||
Total liabilities and equity | $ 272,837 | [21] | $ 302,842 | [22] | ||
[1] | Derivative financial liabilities as of 31 December 2019 include USD 17 million related to derivative loan commitments (31 December 2018: USD 17 million). No notional amounts related to these commitments are included in this table, but they are disclosed in 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] | Includes certain forward starting repurchase and reverse repurchase agreements that are 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 2019 or 31 December 2018. No notional amounts related to these instruments are included in this table, but they are disclosed in Note 34 under Forward starting transactions. | |||||
[4] | Refer to Note 24c for more information on product type and fair value hierarchy categorization. | |||||
[5] | 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. | |||||
[6] | Less deferred tax liabilities as applicable. | |||||
[7] | Comparative figures in this table have been restated for the changes in Corporate Center cost and resource allocation to the business divisions and the changes in the equity attribution framework. Refer to further discussion in this note and in Note 1b | |||||
[8] | Net of bifurcated embedded derivatives, the fair value of which was not material for the periods presented. | |||||
[9] | Carrying amount 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. | |||||
[10] | Contractual maturities of financial liabilities at fair value held for trading are: USD 30 billion due within 1 month (2018: USD 28.3 billion), USD 0.6 billion due between 1 month and 1 year (2018: USD 0.6 billion) and USD 0 billion due between 1 and 5 years (2018: USD 0 billion). | |||||
[11] | 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 | |||||
[12] | As of 31 December 2019 and 31 December 2018, 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 amount. | |||||
[13] | Financial assets and liabilities are presented net on the balance sheet if UBS AG 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. | |||||
[14] | Consists of USD 744 million related to Internally generated software, USD 101 million related to Owned properties and USD 98 million related to Leasehold improvements. | |||||
[15] | Reflects reclassifications to Properties held for sale. | |||||
[16] | All balances in 2019 are against UBS Group AG as counterparty. Prior year balances were against UBS Group Funding (Switzerland) AG as counterparty | |||||
[17] | Represents funding from UBS Group AG to UBS AG. | |||||
[18] | UBS AG has also recognized funding from UBS Group AG and its subsidiaries that is designated at fair value. Refer to Note 22b for more information. | |||||
[19] | 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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | |||||
[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” at www.ubs.com/investors for information prepared in accordance with Swiss GAAP | |||||
[21] | The column ”Other subsidiaries“ includes consolidated information for the significant sub-groups UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG, as well as standalone information for other subsidiaries. | |||||
[22] | 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | $ 19,705 | $ 28,913 | $ (52,099) | ||||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (26) | (287) | (106) | ||||
Disposal of subsidiaries, associates and intangible assets | [1] | 114 | 137 | 339 | |||
Purchase of property, equipment and software | (1,584) | (1,688) | (1,627) | ||||
Disposal of property, equipment and software | 11 | 114 | 47 | ||||
Purchase of financial assets measured at fair value through other comprehensive income | (3,424) | (1,999) | (8,626) | ||||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | 3,913 | 1,361 | 15,250 | ||||
Net (purchase) / redemption of debt securities measured at amortized cost | (562) | (3,770) | |||||
Net cash flow from / (used in) investing activities | (1,558) | (6,132) | 5,186 | ||||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | (17,149) | (12,245) | 24,500 | ||||
Distributions paid on UBS shares | (2,544) | (2,440) | (2,259) | ||||
Repayment of lease liabilities | [2] | (518) | |||||
Issuance of long-term debt, including debt issued designated at fair value | 65,047 | 60,682 | 51,450 | ||||
Repayment of long-term debt, including debt issued designated at fair value | (68,883) | (44,344) | (45,187) | ||||
Net cash flow from / (used in) financing activities | (25,614) | 190 | 26,988 | ||||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [3] | 126,079 | 104,834 | 119,014 | |||
Net cash flow from / (used in) operating, investing and financing activities | (7,467) | 22,971 | (19,925) | ||||
Effects of exchange rate differences on cash and cash equivalents | 1,261 | (1,726) | 5,745 | ||||
Cash and cash equivalents at the end of the year | [3] | 119,873 | 126,079 | 104,834 | |||
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | [4] | 106,957 | 108,268 | 89,968 | |||
of which: loans and advances to banks | 11,386 | 15,678 | 12,773 | ||||
of which: money market paper | [5] | 1,530 | 2,133 | 2,093 | |||
UBS AG (consolidated) | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | 18,805 | 27,744 | [6] | (53,147) | |||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | (26) | (287) | [6] | (106) | |||
Disposal of subsidiaries, associates and intangible assets | [1] | 114 | 137 | [6] | 339 | ||
Purchase of property, equipment and software | (1,401) | (1,473) | [6] | (1,532) | |||
Disposal of property, equipment and software | 11 | 114 | [6] | 210 | |||
Purchase of financial assets measured at fair value through other comprehensive income | (3,424) | (1,999) | [6] | (8,626) | |||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | 3,913 | 1,361 | [6] | 15,250 | |||
Net (purchase) / redemption of financial assets held to maturity | (91) | ||||||
Net (purchase) / redemption of debt securities measured at amortized cost | (562) | (3,770) | [6] | ||||
Net cash flow from / (used in) investing activities | (1,374) | (5,918) | [6] | 5,444 | |||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | (17,149) | (12,245) | [6] | 24,500 | |||
Distributions paid on UBS shares | (3,250) | (3,098) | [6] | (2,219) | |||
Repayment of lease liabilities | [2] | (496) | |||||
Issuance of long-term debt, including debt issued designated at fair value | 59,199 | 54,726 | [6] | 40,270 | |||
Repayment of long-term debt, including debt issued designated at fair value | (68,883) | (44,344) | [6] | (45,187) | |||
Funding from UBS Group AG and its subsidiaries | 5,848 | [7] | 5,956 | [6],[7] | 11,180 | [8] | |
Dividends paid and repayments of preferred notes | (782) | ||||||
Net changes in non-controlling interests | (8) | (31) | [6] | (5) | |||
Net activity related to group internal capital transactions and dividends | 0 | 0 | [6] | 0 | |||
Net cash flow from / (used in) financing activities | (24,738) | 963 | [6] | 27,758 | |||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [10] | 125,853 | [6],[9] | 104,787 | [11] | 118,984 | |
Net cash flow from / (used in) operating, investing and financing activities | (7,307) | 22,789 | [6] | (19,944) | |||
Effects of exchange rate differences on cash and cash equivalents | 1,258 | (1,722) | [6] | 5,749 | |||
Cash and cash equivalents at the end of the year | [10] | 119,804 | [12] | 125,853 | [6],[9] | 104,787 | [11] |
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | [4] | 106,957 | 108,268 | [6] | 89,968 | ||
of which: loans and advances to banks | 11,317 | 15,452 | [6] | 12,726 | |||
of which: money market paper | [13],[14] | 1,530 | 2,133 | [6] | 2,093 | ||
UBS AG (consolidated) | UBS AG (standalone) | Reportable legal entities | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | [15] | 17,531 | (652) | [6] | (35,057) | ||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [15] | (6) | (124) | [6] | 0 | ||
Disposal of subsidiaries, associates and intangible assets | [15] | 100 | [16] | 97 | [6],[17] | 291 | [17] |
Purchase of property, equipment and software | [15] | (628) | (822) | [6] | (1,054) | ||
Disposal of property, equipment and software | [15] | 10 | 111 | [6] | 1 | ||
Purchase of financial assets measured at fair value through other comprehensive income | [15] | (10) | (170) | [6] | (234) | ||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [15] | 10 | 20 | [6] | 3,489 | ||
Net (purchase) / redemption of financial assets held to maturity | [15] | (455) | |||||
Net (purchase) / redemption of debt securities measured at amortized cost | [15] | (1,045) | (1,000) | [6] | |||
Net cash flow from / (used in) investing activities | [15] | (1,569) | (1,888) | [6] | 2,039 | ||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [15] | (17,150) | (12,295) | [6] | 24,556 | ||
Distributions paid on UBS shares | [15] | (3,250) | (3,098) | [6] | (2,219) | ||
Repayment of lease liabilities | [15] | 262 | |||||
Issuance of long-term debt, including debt issued designated at fair value | [15] | 58,437 | 53,294 | [6] | 39,232 | ||
Repayment of long-term debt, including debt issued designated at fair value | [15] | (67,113) | (42,759) | [6] | (43,605) | ||
Funding from UBS Group AG and its subsidiaries | [15] | 5,848 | [8] | 5,956 | [6],[7] | 11,180 | [8] |
Dividends paid and repayments of preferred notes | [15] | (782) | |||||
Net changes in non-controlling interests | [15] | 0 | 0 | [6] | 0 | ||
Net activity related to group internal capital transactions and dividends | [15] | 3,569 | 3,000 | [6] | 1,264 | ||
Net cash flow from / (used in) financing activities | [15] | (19,922) | 4,098 | [6] | 29,625 | ||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [15] | 42,895 | [6],[9] | 41,570 | [11] | 43,495 | |
Net cash flow from / (used in) operating, investing and financing activities | [15] | (3,960) | 1,559 | [6] | (3,393) | ||
Effects of exchange rate differences on cash and cash equivalents | [15] | 664 | (234) | [6] | 1,466 | ||
Cash and cash equivalents at the end of the year | [15] | 39,598 | [12] | 42,895 | [6],[9] | 41,570 | [11] |
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | [15] | 36,275 | 36,248 | [6] | 37,420 | ||
of which: loans and advances to banks | [15] | 2,697 | 4,849 | [6] | 2,344 | ||
of which: money market paper | [14],[15] | 626 | 1,798 | [6] | 1,806 | ||
UBS AG (consolidated) | UBS Switzerland AG | Reportable legal entities | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | [15] | 8,882 | 14,887 | [6] | (8,742) | ||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [15] | 0 | (5) | [6] | (2) | ||
Disposal of subsidiaries, associates and intangible assets | [15] | 0 | [16] | 0 | [6],[17] | 0 | [17] |
Purchase of property, equipment and software | [15] | (173) | (170) | [6] | (86) | ||
Disposal of property, equipment and software | [15] | 0 | 0 | [6] | 0 | ||
Purchase of financial assets measured at fair value through other comprehensive income | [15] | 0 | 0 | [6] | 0 | ||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [15] | 0 | 15 | [6] | 1,580 | ||
Net (purchase) / redemption of financial assets held to maturity | [15] | 364 | |||||
Net (purchase) / redemption of debt securities measured at amortized cost | [15] | 437 | 2,111 | [6] | |||
Net cash flow from / (used in) investing activities | [15] | 264 | 1,951 | [6] | 1,856 | ||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [15] | 0 | (3) | [6] | (5) | ||
Distributions paid on UBS shares | [15] | 0 | 0 | [6] | 0 | ||
Repayment of lease liabilities | [15] | 0 | |||||
Issuance of long-term debt, including debt issued designated at fair value | [15] | 621 | 872 | [6] | 631 | ||
Repayment of long-term debt, including debt issued designated at fair value | [15] | (752) | (812) | [6] | (589) | ||
Funding from UBS Group AG and its subsidiaries | [15] | 0 | [8] | 0 | [6],[7] | 0 | [8] |
Dividends paid and repayments of preferred notes | [15] | 0 | |||||
Net changes in non-controlling interests | [15] | 0 | 0 | [6] | 0 | ||
Net activity related to group internal capital transactions and dividends | [15] | (2,055) | (2,372) | [6] | (194) | ||
Net cash flow from / (used in) financing activities | [15] | (2,186) | (2,315) | [6] | (158) | ||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [15] | 54,757 | [6],[9] | 40,961 | [11] | 45,815 | |
Net cash flow from / (used in) operating, investing and financing activities | [15] | 6,961 | 14,523 | [6] | (7,043) | ||
Effects of exchange rate differences on cash and cash equivalents | [15] | 833 | (726) | [6] | 2,189 | ||
Cash and cash equivalents at the end of the year | [15] | 62,551 | [12] | 54,757 | [6],[9] | 40,961 | [11] |
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | [15] | 60,926 | 53,490 | [6] | 39,461 | ||
of which: loans and advances to banks | [15] | 1,127 | 1,249 | [6] | 1,492 | ||
of which: money market paper | [14],[15] | 498 | 18 | [6] | 7 | ||
UBS AG (consolidated) | Other subsidiaries | Reportable legal entities | |||||||
Condensed Cash Flow Statements Captions [Line Items] | |||||||
Net cash flow from / (used in) operating activities | [15] | (7,608) | 13,509 | [6] | (9,348) | ||
Cash flow from / (used in) investing activities | |||||||
Purchase of subsidiaries, associates and intangible assets | [15] | (20) | (158) | [6] | (104) | ||
Disposal of subsidiaries, associates and intangible assets | [15] | 14 | [16] | 40 | [6],[17] | 48 | [17] |
Purchase of property, equipment and software | [15] | (600) | (481) | [6] | (393) | ||
Disposal of property, equipment and software | [15] | 1 | 3 | [6] | 209 | ||
Purchase of financial assets measured at fair value through other comprehensive income | [15] | (3,414) | (1,829) | [6] | (8,393) | ||
Disposal and redemption of financial assets measured at fair value through other comprehensive income | [15] | 3,904 | 1,325 | [6] | 10,181 | ||
Net (purchase) / redemption of financial assets held to maturity | [15] | 0 | |||||
Net (purchase) / redemption of debt securities measured at amortized cost | [15] | 45 | (4,881) | [6] | |||
Net cash flow from / (used in) investing activities | [15] | (70) | (5,982) | [6] | 1,548 | ||
Cash flow from / (used in) financing activities | |||||||
Net short-term debt issued / (repaid) | [15] | 0 | 53 | [6] | (50) | ||
Distributions paid on UBS shares | [15] | 0 | 0 | [6] | 0 | ||
Repayment of lease liabilities | [15] | 234 | |||||
Issuance of long-term debt, including debt issued designated at fair value | [15] | 142 | 560 | [6] | 409 | ||
Repayment of long-term debt, including debt issued designated at fair value | [15] | (1,017) | (772) | [6] | (993) | ||
Funding from UBS Group AG and its subsidiaries | [15] | 0 | [8] | 0 | [6],[7] | 0 | [8] |
Dividends paid and repayments of preferred notes | [15] | 0 | |||||
Net changes in non-controlling interests | [15] | (8) | (31) | [6] | (5) | ||
Net activity related to group internal capital transactions and dividends | [15] | (1,514) | (628) | [6] | (1,071) | ||
Net cash flow from / (used in) financing activities | [15] | (2,630) | (820) | [6] | (1,710) | ||
Total cash flow | |||||||
Cash and cash equivalents at the beginning of the year | [15] | 28,201 | [6],[9] | 22,256 | [11] | 29,674 | |
Net cash flow from / (used in) operating, investing and financing activities | [15] | (10,308) | 6,707 | [6] | (9,510) | ||
Effects of exchange rate differences on cash and cash equivalents | [15] | (239) | (762) | [6] | 2,094 | ||
Cash and cash equivalents at the end of the year | [15] | 17,655 | [12] | 28,201 | [6],[9] | 22,256 | [11] |
Net cash flow from / (used in) operating activities includes: | |||||||
of which: cash and balances at central banks | [15] | 9,756 | 18,530 | [6] | 13,086 | ||
of which: loans and advances to banks | [15] | 7,493 | 9,354 | [6] | 8,890 | ||
of which: money market paper | [14],[15] | $ 406 | $ 318 | [6] | $ 280 | ||
[1] | Includes dividends received from associates | ||||||
[2] | Upon adoption of IFRS 16 on 1 January 2019, cash payments for the principal portion of the lease liability previously classified within operating activities have been reclassified to financing activities. | ||||||
[3] | USD 3,192 million, USD 5,245 million and USD 2,497 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 31 December 2019, 31 December 2018 and 31 December 2017, respectively. Refer to “Note 26 Restricted and transferred financial assets” in the “Consolidated financial statements” section of the Annual Report 2019 for more information. | ||||||
[4] | Includes only balances with an original maturity of three months or less. | ||||||
[5] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading (31 December 2019: USD 235 million; 31 December 2018: USD 366 million; 31 December 2017: USD 135 million), Financial assets measured at fair value through other comprehensive income (31 December 2019: USD 24 million; 31 December 2018: USD 8 million; 31 December 2017: USD 17 million), Financial assets at fair value not held for trading (31 December 2019: USD 920 million; 31 December 2018: USD 1,556 million; 31 December 2017: USD 1,941 million) and Other financial assets measured at amortized cost (31 December 2019: USD 351 million; 31 December 2018: USD 204 million; 31 December 2017: USD 0 million). | ||||||
[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 of the Annual Report 2018 for more information | ||||||
[7] | Represents funding from UBS Group AG to UBS AG. | ||||||
[8] | Represents funding from UBS Group Funding (Switzerland) AG to UBS AG. | ||||||
[9] | Comprises balances with an original maturity of three months or less. USD 5,245 million of cash and cash equivalents were restricted. | ||||||
[10] | USD 3,192 million, USD 5,245 million and USD 2,497 million of cash and cash equivalents (mainly reflected in Loans and advances to banks) were restricted as of 31 December 2019, 31 December 2018 and 31 December 2017, respectively. Refer to “Note 26 Restricted and transferred financial assets” in the “Consolidated financial statements” section of the Annual Report 2019 for more information. | ||||||
[11] | Comprises balances with an original maturity of three months or less. USD 2,497 of cash and cash equivalents were restricted. | ||||||
[12] | Comprises balances with an original maturity of three months or less. USD 3,192 million of cash and cash equivalents were restricted. | ||||||
[13] | Money market paper is included in the balance sheet under Financial assets at fair value held for trading (31 December 2019: USD 235 million; 31 December 2018: USD 366 million; 31 December 2017: USD 135 million), Financial assets measured at fair value through other comprehensive income (31 December 2019: USD 24 million; 31 December 2018: USD 8 million; 31 December 2017: USD 17 million), Financial assets at fair value not held for trading (31 December 2019: USD 920 million; 31 December 2018: USD 1,556 million; 31 December 2017: USD 1,941 million) and Other financial assets measured at amortized cost (31 December 2019: USD 351 million; 31 December 2018: USD 204 million; 31 December 2017: USD 0 million). | ||||||
[14] | 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. | ||||||
[15] | Cash flows generally represent a third-party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends | ||||||
[16] | Includes dividends received from associates. | ||||||
[17] | Includes dividends received from associates. |
MD&A - Risk management and co_7
MD&A - Risk management and control - Credit Risk (Narrative) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 | |
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 Billions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Disclosure of Market Risk [Line Items] | |
Equity instruments held as financial assets at fair value not held for trading and as investments in associates | $ 2.4 |
Equity instruments held as financial assets at fair value not held for trading | $ 1.3 |
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 | 15.00% |
UBS AG | |
Disclosure of Market Risk [Line Items] | |
Equity instruments held as financial assets at fair value not held for trading and as investments in associates | $ 2.4 |
Equity instruments held as financial assets at fair value not held for trading | $ 1.3 |
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 | 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, 2019 | Dec. 31, 2018 | ||
Value At Risk [Line Items] | |||
Management VaR | [1] | $ 9 | $ 12 |
Diversification effect | [1],[2],[3] | (4) | (5) |
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] | 7 | 10 |
Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 6 |
Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 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 | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 4 |
Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 18 | 26 |
Maximum | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 2 |
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] | 17 | 25 |
Maximum | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 7 |
Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 11 | 12 |
Diversification effect | [1],[2],[3] | (5) | (5) |
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] | 9 | 11 |
Average | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
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] | 6 | 8 |
Equity prices | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Equity prices | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
Equity prices | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 14 | 22 |
Equity prices | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 8 |
Interest rates | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 7 |
Diversification effect | [1],[2],[3] | (4) | (4) |
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] | 7 | 6 |
Interest rates | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 4 |
Interest rates | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 5 |
Interest rates | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 12 | 11 |
Interest rates | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 8 |
Credit spreads | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
Diversification effect | [1],[2],[3] | (2) | (3) |
Credit spreads | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 2 |
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] | 4 | 6 |
Credit spreads | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
Credit spreads | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 5 |
Credit spreads | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 9 |
Credit spreads | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 7 |
Foreign exchange | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 6 |
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 | 3 |
Foreign exchange | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Foreign exchange | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
Foreign exchange | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 13 |
Foreign exchange | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 3 |
Commodities | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 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 | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
Commodities | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
Commodities | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 4 |
Commodities | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
UBS AG | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 12 |
Diversification effect | [1],[2],[3] | (4) | (5) |
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] | 7 | 10 |
UBS AG | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 6 |
UBS AG | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 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 | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 4 | 4 |
UBS AG | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 18 | 26 |
UBS AG | Maximum | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 2 |
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] | 17 | 25 |
UBS AG | Maximum | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 7 |
UBS AG | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 11 | 12 |
Diversification effect | [1],[2],[3] | (5) | (5) |
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] | 9 | 11 |
UBS AG | Average | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
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] | 6 | 8 |
UBS AG | Equity prices | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Equity prices | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 3 |
UBS AG | Equity prices | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 14 | 22 |
UBS AG | Equity prices | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 8 |
UBS AG | Interest rates | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 7 |
Diversification effect | [1],[2],[3] | (4) | (4) |
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] | 7 | 6 |
UBS AG | Interest rates | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 4 |
UBS AG | Interest rates | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 5 |
UBS AG | Interest rates | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 12 | 11 |
UBS AG | Interest rates | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 9 | 8 |
UBS AG | Credit spreads | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 5 |
Diversification effect | [1],[2],[3] | (2) | (3) |
UBS AG | Credit spreads | Global Wealth Management | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 2 |
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] | 4 | 6 |
UBS AG | Credit spreads | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 2 |
UBS AG | Credit spreads | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 5 |
UBS AG | Credit spreads | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 9 |
UBS AG | Credit spreads | Average | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 5 | 7 |
UBS AG | Foreign exchange | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 3 | 6 |
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 | 3 |
UBS AG | Foreign exchange | Corporate Center | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Foreign exchange | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 2 | 1 |
UBS AG | Foreign exchange | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 8 | 13 |
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] | 3 | 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 | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 0 | 0 |
UBS AG | Commodities | Minimum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 1 | 1 |
UBS AG | Commodities | Maximum | |||
Value At Risk [Line Items] | |||
Management VaR | [1] | 6 | 4 |
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 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) $ in Millions | Dec. 31, 2019USD ($) | |
+1 bp | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | $ (25.1) | |
Additional tier 1 (AT1) capital instruments | 5 | |
Total including AT1 capital instruments | (20.1) | |
+1 bp | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (3.3) | |
+1 bp | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (0.4) | |
+1 bp | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 0.1 | |
+1 bp | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (20.8) | |
+1 bp | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (0.8) | |
Parallel up | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (5,003.2) | [1] |
Additional tier 1 (AT1) capital instruments | 954.3 | [1] |
Total including AT1 capital instruments | (4,048.9) | [1] |
Parallel up | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (463.1) | [1] |
Parallel up | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (73.6) | [1] |
Parallel up | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 8.9 | [1] |
Parallel up | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (4,317.5) | [1] |
Parallel up | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (157.9) | [1] |
Parallel down | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 4,315.9 | [1] |
Additional tier 1 (AT1) capital instruments | (1,024.6) | [1] |
Total including AT1 capital instruments | 3,291.2 | [1] |
Parallel down | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 519.6 | [1] |
Parallel down | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 79.3 | [1] |
Parallel down | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (23) | [1] |
Parallel down | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 3,570 | [1] |
Parallel down | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 169.9 | [1] |
Steepener | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (816.1) | [2] |
Additional tier 1 (AT1) capital instruments | (42.2) | [2] |
Total including AT1 capital instruments | (858.3) | [2] |
Steepener | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (235.7) | [2] |
Steepener | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (5.3) | [2] |
Steepener | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (6.7) | [2] |
Steepener | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (566.9) | [2] |
Steepener | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (1.4) | [2] |
Flattener | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (337.2) | [3] |
Additional tier 1 (AT1) capital instruments | 253.5 | [3] |
Total including AT1 capital instruments | (83.7) | [3] |
Flattener | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 143.9 | [3] |
Flattener | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (7.3) | [3] |
Flattener | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 6.4 | [3] |
Flattener | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (450.5) | [3] |
Flattener | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (29.8) | [3] |
Short-term up | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (2,166) | [4] |
Additional tier 1 (AT1) capital instruments | 610.8 | [4] |
Total including AT1 capital instruments | (1,555.2) | [4] |
Short-term up | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (44.7) | [4] |
Short-term up | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (28) | [4] |
Short-term up | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 11.5 | [4] |
Short-term up | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (2,019.7) | [4] |
Short-term up | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (85) | [4] |
Short-term down | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 2,292 | [5] |
Additional tier 1 (AT1) capital instruments | (638.5) | [5] |
Total including AT1 capital instruments | 1,653.5 | [5] |
Short-term down | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 47.6 | [5] |
Short-term down | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 29.5 | [5] |
Short-term down | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (11) | [5] |
Short-term down | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 2,132.4 | [5] |
Short-term down | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 93.5 | [5] |
UBS AG | +1 bp | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (25.1) | |
Additional tier 1 (AT1) capital instruments | 5 | |
Total including AT1 capital instruments | (20.1) | |
UBS AG | +1 bp | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (3.3) | |
UBS AG | +1 bp | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (0.4) | |
UBS AG | +1 bp | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 0.1 | |
UBS AG | +1 bp | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (20.8) | |
UBS AG | +1 bp | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (0.8) | |
UBS AG | Parallel up | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (5,003.2) | [1] |
Additional tier 1 (AT1) capital instruments | 954.3 | [1] |
Total including AT1 capital instruments | (4,048.9) | [1] |
UBS AG | Parallel up | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (463.1) | [1] |
UBS AG | Parallel up | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (73.6) | [1] |
UBS AG | Parallel up | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 8.9 | [1] |
UBS AG | Parallel up | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (4,317.5) | [1] |
UBS AG | Parallel up | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (157.9) | [1] |
UBS AG | Parallel down | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 4,315.9 | [1] |
Additional tier 1 (AT1) capital instruments | (1,024.6) | [1] |
Total including AT1 capital instruments | 3,291.2 | [1] |
UBS AG | Parallel down | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 519.6 | [1] |
UBS AG | Parallel down | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 79.3 | [1] |
UBS AG | Parallel down | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (23) | [1] |
UBS AG | Parallel down | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 3,570 | [1] |
UBS AG | Parallel down | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 169.9 | [1] |
UBS AG | Steepener | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (816.1) | [2] |
Additional tier 1 (AT1) capital instruments | (42.2) | [2] |
Total including AT1 capital instruments | (858.3) | [2] |
UBS AG | Steepener | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (235.7) | [2] |
UBS AG | Steepener | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (5.3) | [2] |
UBS AG | Steepener | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (6.7) | [2] |
UBS AG | Steepener | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (566.9) | [2] |
UBS AG | Steepener | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (1.4) | [2] |
UBS AG | Flattener | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (337.2) | [3] |
Additional tier 1 (AT1) capital instruments | 253.5 | [3] |
Total including AT1 capital instruments | (83.7) | [3] |
UBS AG | Flattener | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 143.9 | [3] |
UBS AG | Flattener | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (7.3) | [3] |
UBS AG | Flattener | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 6.4 | [3] |
UBS AG | Flattener | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (450.5) | [3] |
UBS AG | Flattener | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (29.8) | [3] |
UBS AG | Short-term up | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (2,166) | [4] |
Additional tier 1 (AT1) capital instruments | 610.8 | [4] |
Total including AT1 capital instruments | (1,555.2) | [4] |
UBS AG | Short-term up | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (44.7) | [4] |
UBS AG | Short-term up | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (28) | [4] |
UBS AG | Short-term up | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 11.5 | [4] |
UBS AG | Short-term up | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (2,019.7) | [4] |
UBS AG | Short-term up | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (85) | [4] |
UBS AG | Short-term down | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 2,292 | [5] |
Additional tier 1 (AT1) capital instruments | (638.5) | [5] |
Total including AT1 capital instruments | 1,653.5 | [5] |
UBS AG | Short-term down | CHF | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 47.6 | [5] |
UBS AG | Short-term down | EUR | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 29.5 | [5] |
UBS AG | Short-term down | GBP | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | (11) | [5] |
UBS AG | Short-term down | USD | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | 2,132.4 | [5] |
UBS AG | Short-term down | Other | ||
Interest Rate Sensitivity Of Banking Book [Line Items] | ||
Total effect on economic value of equity as per Pillar 3 requirement | $ 93.5 | [5] |
[1] | Rates across all tenors move by ±150 bps for Swiss franc, ±200 bps for euro and US dollar and ±250 bps for pound sterling | |
[2] | Short-term rates decrease and long-term rates increase. | |
[3] | Short-term rates increase and long-term rates decrease. | |
[4] | Short-term rates increase more than long-term rates. | |
[5] | Short-term rates decrease more than long-term rates. |
MD&A - Capital management (Narr
MD&A - Capital management (Narrative) (Detail) $ in Billions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Disclosure Of Capital Management [Line Items] | |
Increase in high-trigger loss-absorbing additional tier one capital instruments denominated in US Dollar, Australian Dollar, Singapore Dollar and Swiss Franc | $ 3.8 |
Increase in high-trigger loss-absorbing additional tier one capital instruments denominated in US Dollar | 2.5 |
Increase in high-trigger loss-absorbing additional tier one capital instruments denominated in Australian Dollar | 0.5 |
Increase in high-trigger loss-absorbing additional tier one capital instruments denominated in Singapore Dollar | 0.5 |
Increase in high-trigger loss-absorbing additional tier one capital instruments denominated in Swiss Franc | 0.3 |
TLAC-eligible senior unsecured notes issued denominated in US Dollar | 1.6 |
TLAC-eligible senior unsecured notes issued denominated in Swiss Franc | 0.4 |
TLAC-eligible senior unsecured notes issued denominated in Australian Dollar | 0.1 |
Call of low trigger Tier 2 capital instruments | 0.2 |
Increase (decrease) in CET1 capital | 1.5 |
Increase (decrease) in fully-applied loss-absorbing AT1 capital | 4.1 |
Fully-applied loss-absorbing AT1 capital | 16.3 |
TLAC-eligible senior unsecured debt included in gone concern loss-absorbing capacity | 30.3 |
Increase in Gone concern loss-absorbing capacity on a fully applied basis | 0.3 |
Gone concern loss-absorbing capacity on a fully applied basis | $ 37.8 |
MD&A - Capital management (Deta
MD&A - Capital management (Detail 1) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||
Total equity before the adoption of IFRIC 23 | $ 53,103 | $ 51,938 | ||
Total IFRS equity | $ 54,707 | 53,092 | ||
Equity attributable to non-controlling interests | (174) | (176) | ||
Defined benefit plans, net of tax | (9) | 0 | ||
Deferred tax assets recognized for tax loss carry-forwards | (6,121) | (6,107) | ||
Deferred tax assets on temporary differences, excess over threshold | (221) | (586) | ||
Goodwill, net of tax | [1] | (6,178) | (6,514) | |
Intangible assets, net of tax | (195) | (251) | ||
Compensation-related components (not recognized in net profit) | (1,717) | (1,652) | ||
Expected losses on advanced internal ratings-based portfolio less provisions | (495) | (368) | ||
Unrealized (gains) / losses from cash flow hedges, net of tax | (1,260) | (109) | ||
Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax | 48 | (397) | ||
Prudential valuation adjustments | (104) | (120) | ||
Accruals for proposed dividends to shareholders | (2,628) | (2,648) | ||
Other | (72) | (56) | ||
Total common equity tier 1 capital | 35,582 | 34,119 | ||
Goodwill related to significant investments in financial institutions | 178 | 176 | ||
UBS AG | ||||
Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||
Total equity before the adoption of IFRIC 23 | 52,432 | $ 51,429 | ||
Total IFRS equity | 53,928 | $ 52,421 | ||
Equity attributable to non-controlling interests | (174) | |||
Defined benefit plans, net of tax | (9) | |||
Deferred tax assets recognized for tax loss carry-forwards | (6,121) | |||
Deferred tax assets on temporary differences, excess over threshold | (226) | |||
Goodwill, net of tax | (6,178) | |||
Intangible assets, net of tax | (195) | |||
Expected losses on advanced internal ratings-based portfolio less provisions | (495) | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | (1,260) | |||
Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax | 48 | |||
Prudential valuation adjustments | (104) | |||
Accruals for proposed dividends to shareholders | (3,848) | |||
Other | (86) | |||
Total common equity tier 1 capital | $ 35,280 | |||
[1] | Includes goodwill related to significant investments in financial institutions of USD 178 million as of 31 December 2019 (31 December 2018: USD 176 million) presented on the balance sheet line Investments in associates. |
MD&A - Capital management (De_2
MD&A - Capital management (Detail 2) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||
Total equity before the adoption of IFRIC 23 | $ 53,103 | $ 51,938 | ||
Total IFRS equity | $ 54,707 | 53,092 | ||
Equity attributable to non-controlling interests | (174) | (176) | ||
Defined benefit plans, net of tax | (9) | 0 | ||
Deferred tax assets recognized for tax loss carry-forwards | (6,121) | (6,107) | ||
Deferred tax assets on temporary differences, excess over threshold | (221) | (586) | ||
Goodwill, net of tax | [1] | (6,178) | (6,514) | |
Intangible assets, net of tax | (195) | (251) | ||
Compensation-related components (not recognized in net profit) | (1,717) | (1,652) | ||
Expected losses on advanced internal ratings-based portfolio less provisions | (495) | (368) | ||
Unrealized (gains) / losses from cash flow hedges, net of tax | (1,260) | (109) | ||
Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax | 48 | (397) | ||
Prudential valuation adjustments | (104) | (120) | ||
Accruals for proposed dividends to shareholders | (2,628) | (2,648) | ||
Other | (72) | (56) | ||
Total common equity tier 1 capital | 35,582 | 34,119 | ||
UBS AG | ||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||
Total equity before the adoption of IFRIC 23 | 52,432 | $ 51,429 | ||
Total IFRS equity | 53,928 | $ 52,421 | ||
Equity attributable to non-controlling interests | (174) | |||
Defined benefit plans, net of tax | (9) | |||
Deferred tax assets recognized for tax loss carry-forwards | (6,121) | |||
Deferred tax assets on temporary differences, excess over threshold | (226) | |||
Goodwill, net of tax | (6,178) | |||
Intangible assets, net of tax | (195) | |||
Expected losses on advanced internal ratings-based portfolio less provisions | (495) | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | (1,260) | |||
Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax | 48 | |||
Prudential valuation adjustments | (104) | |||
Accruals for proposed dividends to shareholders | (3,848) | |||
Other | (86) | |||
Total common equity tier 1 capital | 35,280 | |||
Differences | ||||
Comparison Reconciliation Of IFRS Equity To Swiss SRB Common Equity Tier One Capital [Line Items] | ||||
Total IFRS equity | 779 | |||
Equity attributable to non-controlling interests | 0 | |||
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 | 6 | |||
Goodwill, net of tax | 0 | |||
Intangible assets, net of tax | 0 | |||
Compensation-related components (not recognized in net profit) | (1,717) | |||
Expected losses on advanced internal ratings-based portfolio less provisions | 0 | |||
Unrealized (gains) / losses from cash flow hedges, net of tax | 0 | |||
Own credit related to (gains) / losses on financial liabilities measured at fair value that existed at the balance sheet date, net of tax | 0 | |||
Prudential valuation adjustments | 0 | |||
Accruals for proposed dividends to shareholders | 1,220 | |||
Other | 14 | |||
Total common equity tier 1 capital | $ 302 | |||
[1] | Includes goodwill related to significant investments in financial institutions of USD 178 million as of 31 December 2019 (31 December 2018: USD 176 million) presented on the balance sheet line Investments in associates. |
MD&A - UBS shares (Narrative) (
MD&A - UBS shares (Narrative) (Detail) - SFr / shares | Dec. 31, 2019 | Dec. 31, 2018 |
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 |