6-K 1 edgar00significantreg.htm edgar00significantreg
 
 
 
 
 
 
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 6-K
REPORT OF FOREIGN PRIVATE
 
ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date: August 5, 2025
UBS Group AG
(Registrant's
 
Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
(Address of principal executive office)
Commission File Number: 1-36764
UBS AG
(Registrant's
 
Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
Aeschenvorstadt 1, 4051 Basel, Switzerland
 
(Address of principal executive offices)
Commission File Number: 1-15060
 
Indicate by check mark whether the registrants file or will file annual
 
reports under cover of Form 20-F or Form
40-
F.
Form 20-F
 
☒
 
Form 40-F
 
☐
This Form 6-K consists of UBS supplementary information
 
for significant regulated subsidiaries and sub-groups
 
for
the second quarter of 2025, which appears
 
immediately following this page.
 
edgar00significantregp3i0
UBS Group significant
 
regulated subsidiary
 
and sub-group information
Second quarter
 
2025
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Significant regulated subsidiary and sub-group
 
information
 
2
Significant regulated subsidiary
and sub-group information
Unaudited
 
Financial and
 
regulatory key
 
figures for our
 
significant regulated
 
subsidiaries
 
and sub-groups
UBS AG
(consolidated)
UBS AG
(standalone)
UBS Switzerland AG
(standalone)
UBS Europe SE
(consolidated)
UBS Americas
Holding LLC
(consolidated)
All values in million, except where indicated
USD
USD
CHF
EUR
USD
Financial and regulatory requirements
IFRS Accounting Standards
Swiss SRB rules
IFRS Accounting
Standards
Swiss SRB rules
IFRS Accounting
Standards
Swiss SRB rules
IFRS Accounting
Standards
EU regulatory rules
US GAAP
US Basel III rules
As of or for the quarter ended
30.6.25
31.3.25
30.6.25
31.3.25
30.6.25
31.3.25
30.6.25
31.3.25
1
30.6.25
31.3.25
Financial information
2
Income statement
Total operating income
3
11,483
12,040
9,269
4
3,956
2,756
4
3,215
354
347
4,159
4,567
Total operating expenses
10,621
10,701
3,610
3,521
2,236
2,419
340
310
4,126
4,348
Operating profit / (loss) before tax
862
1,339
5,659
434
520
796
14
37
32
219
Net profit / (loss)
1,198
1,035
5,683
409
441
663
(2)
30
547
331
Balance sheet
Total assets
1,671,814
1,547,489
1,003,436
938,573
518,866
518,544
61,063
54,463
205,747
210,803
Total liabilities
 
1,576,960
1,450,367
914,230
848,944
495,612
491,592
56,975
49,858
178,268
183,825
Total equity
94,854
97,123
89,206
89,629
23,254
26,952
4,088
4,605
27,479
26,978
Capital
5
Common equity tier 1 capital
 
69,829
 
70,756
 
73,178
 
70,980
 
21,470
 
21,596
2,995
3,424
16,152
16,236
Additional tier 1 capital
 
18,656
 
18,325
 
18,656
 
18,325
 
7,994
 
7,995
600
600
2,822
2,817
Total going concern capital / Tier 1 capital
 
88,485
 
89,081
 
91,834
 
89,305
 
29,463
 
29,590
3,595
4,024
18,974
19,053
Tier 2 capital
 
196
 
205
 
193
 
204
190
205
Total capital
3,595
4,024
19,164
19,258
Total gone concern loss-absorbing capacity
 
93,502
 
93,705
 
93,499
 
93,703
 
19,148
 
19,248
2,505
6
2,527
6
7,800
7
7,800
7
Total loss-absorbing capacity
 
181,987
 
182,786
 
185,333
 
183,009
 
48,611
 
48,838
6,100
6,551
26,774
7
26,853
7
Risk-weighted assets and leverage
ratio denominator
5
Risk-weighted assets
 
498,327
 
481,539
 
516,479
 
514,897
 
168,701
 
174,610
14,590
14,387
77,244
79,345
Leverage ratio denominator
 
1,660,097
 
1,565,845
 
964,000
 
935,496
 
549,690
 
551,716
61,706
55,615
199,196
204,960
Supplementary leverage ratio denominator
231,603
234,346
Capital and leverage ratios (%)
5
Common equity tier 1 capital ratio
 
14.0
 
14.7
 
14.2
8
 
13.8
 
12.7
 
12.4
 
20.5
 
23.8
 
20.9
 
20.5
Going concern capital ratio / Tier 1 capital ratio
 
17.8
 
18.5
 
17.8
 
17.3
 
17.5
 
16.9
 
24.6
 
28.0
 
24.6
 
24.0
Total capital ratio
 
24.6
 
28.0
 
24.8
 
24.3
Total loss-absorbing capacity ratio
 
36.5
 
38.0
 
28.8
 
28.0
 
41.8
 
45.5
 
34.7
 
33.8
Tier 1 leverage ratio
 
5.8
 
7.2
 
9.5
 
9.3
Supplementary tier 1 leverage ratio
 
8.2
 
8.1
Going concern leverage ratio
 
5.3
 
5.7
 
9.5
 
9.5
 
5.4
 
5.4
Total loss-absorbing capacity leverage ratio
 
11.0
 
11.7
 
8.8
 
8.9
 
9.9
 
11.8
 
13.4
 
13.1
Gone concern capital coverage ratio
 
118.2
 
125.1
Liquidity coverage ratio
5
High-quality liquid assets (bn)
358.9
318.9
177.4
150.5
111.9
111.2
20.0
18.7
29.0
28.2
Net cash outflows (bn)
200.1
176.9
75.7
66.0
81.1
81.2
14.5
13.4
22.6
21.2
Liquidity coverage ratio (%)
179.4
180.3
235.5
9
229.2
138.1
10
137.1
138.9
140.4
127.9
132.9
Net stable funding ratio
5
Total available stable funding (bn)
892.4
853.7
421.3
410.5
354.6
355.0
17.8
18.6
104.9
107.9
Total required stable funding (bn)
738.1
695.2
435.5
418.7
275.9
276.3
13.7
13.2
79.0
80.5
Net stable funding ratio (%)
120.9
122.8
96.7
11
98.1
128.6
11
128.5
130.0
140.5
132.8
134.0
Other
Joint and several liability between UBS AG and
UBS Switzerland AG (bn)
12
3
3
1 Comparative figures have
 
been restated to align
 
with the regulatory reports as
 
submitted to the European
 
Central Bank (the ECB).
 
2 The financial information
 
disclosed does not represent
 
a full set of financial
statements under the
 
respective GAAP /
 
IFRS Accounting Standards.
 
3 The total
 
operating income includes
 
credit loss expense
 
or release.
 
4 UBS decided
 
to consolidate the
 
Wealth Management International
business and the Global Financial Intermediaries business booked
 
in Switzerland in UBS AG to further
 
optimize Group legal and operational structures and
 
to address regulatory considerations. In the
 
second quarter
of 2025, the beneficial
 
ownership of the respective heritage
 
UBS businesses booked in
 
UBS Switzerland AG was
 
transferred from UBS Switzerland
 
AG to UBS AG,
 
with effect from 1 January
 
2025. The transfer
 
was
made in the form of a dividend in
 
kind amounting to USD 126m (CHF 100m), reflecting
 
the net asset value of the
 
business in scope. UBS Switzerland
 
AG will continue to manage the
 
businesses under a contractual
relationship with UBS
 
AG until the
 
completion of the
 
legal transfer,
 
which is expected
 
to take
 
place in 2028,
 
and will continue
 
to recognize the
 
underlying Wealth Management
 
International and Global
 
Financial
Intermediaries assets and liabilities until then. UBS AG’s
 
share of the net profits of USD 368m (CHF 292m) for
 
the first half of 2025 is reflected in Fee
 
and commission income for UBS AG and in Fee
 
and commission
expense for UBS Switzerland AG, both within Operating
 
income.
 
5 Refer to the UBS Group and significant regulated subsidiaries and
 
sub-groups 30 June 2025 Pillar 3 Report, available under “Pillar 3
 
disclosures”
at ubs.com/investors,
 
for more
 
information.
 
6 Consists of
 
positions that
 
meet the
 
conditions laid
 
down in
 
Art. 72a–b of
 
the Capital
 
Requirements Regulation
 
II with
 
regard to
 
contractual, structural
 
or legal
subordination.
 
7 Consists of eligible long-term debt that meets the conditions specified in 12 CFR § 252.162 of the final total loss-absorbing capacity (TLAC) rules. TLAC is the sum of tier 1 capital and eligible long-
term debt.
 
8 On a standalone basis
 
as of 30 June 2025,
 
UBS AG’s phase-in
 
CET1 capital ratio was
 
14.2%, based on risk
 
weights of 235% and
 
340% for Swiss and foreign
 
participations, respectively.
 
These risk
weights will increase to 250%
 
and 400% for Swiss
 
and foreign participations, respectively,
 
in a phased manner
 
until 1 January 2028, contributing
 
to UBS AG’s
 
fully applied CET1 capital ratio
 
of 13.2%.
 
9 In the
second quarter
 
of 2025,
 
the liquidity
 
coverage ratio
 
(the LCR)
 
of UBS AG
 
was 235.5%,
 
remaining above
 
the prudential
 
requirements communicated
 
by FINMA.
 
10 In the
 
second quarter
 
of 2025,
 
the LCR
 
of
UBS Switzerland AG, which is a Swiss SRB,
 
was 138.1%, remaining above the prudential
 
requirement communicated by FINMA in connection
 
with the Swiss Emergency Plan.
 
11 In accordance with Art. 17h para.
3 and 4 of the Liquidity Ordinance, UBS AG standalone is required to maintain a minimum NSFR of at least 80% without
 
taking into account excess funding of UBS Switzerland AG and 100% after taking into account
such excess funding.
 
12 Under certain circumstances,
 
the Swiss Banking Act and FINMA’s
 
Banking Insolvency Ordinance authorize FINMA to
 
modify, extinguish or convert to
 
common equity liabilities of a bank in
connection with a resolution or insolvency of
 
such bank. As of 30 June 2025,
 
the amount consists of a joint and
 
several liability of UBS Switzerland AG for contractual obligations of UBS
 
AG related to the establishment
of UBS Switzerland AG (CHF 2.1bn), and a joint and several liability
 
of UBS Switzerland AG in connection with the international
 
covered bonds program of UBS AG (CHF 0.5bn) which
 
was fully collateralized through
cash deposits from UBS AG.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Significant regulated subsidiary and sub-group
 
information
 
3
UBS Group AG
 
is
 
a
 
holding
 
company
 
and
 
conducts
 
substantially
 
all
 
of
 
its
 
operations
 
through
 
UBS AG
 
and
subsidiaries thereof. UBS Group AG and
 
UBS AG have contributed a
 
significant portion of
 
their respective capital
to,
 
and
 
provide
 
substantial
 
liquidity
 
to,
 
such
 
subsidiaries.
 
Many
 
of
 
these
 
subsidiaries
 
are
 
subject
 
to
 
regulations
requiring compliance
 
with minimum
 
capital, liquidity
 
and similar requirements.
 
The tables in
 
this section summarize
the
 
regulatory
 
capital
 
components
 
and
 
capital
 
ratios
 
of
 
our
 
significant
 
regulated
 
subsidiaries
 
and
 
sub-groups
determined under the regulatory framework of
 
each subsidiary’s or sub-group’s home jurisdiction.
Supervisory authorities
 
generally have
 
discretion to
 
impose higher
 
requirements or
 
to otherwise
 
limit the
 
activities of
subsidiaries. Supervisory authorities also may require
 
entities to measure capital and
 
leverage ratios on a stressed
 
basis
and may
 
limit the
 
ability of
 
an entity
 
to engage
 
in new
 
activities or
 
take capital
 
actions based
 
on the
 
results of
 
those tests.
In August 2024, the Federal Reserve
 
Board assigned UBS Americas Holding LLC a stress
 
capital buffer (an SCB) of
9.3%
 
as
 
of
 
1 October
 
2024
 
(previously
 
9.1%)
 
under
 
the
 
Federal
 
Reserve
 
Board’s
 
SCB
 
rule,
 
resulting
 
in
 
a
 
total
common equity tier 1 capital
 
requirement of 13.8%. The
 
SCB for our
 
US-based intermediate holding company is
based on the previously
 
released results of the Federal
 
Reserve Board’s 2024 Dodd–Frank Act Stress
 
Test (DFAST),
where UBS Americas
 
Holding LLC exceeded
 
the minimum
 
capital requirements
 
under the severely
 
adverse scenario.
Additional information
 
on the
 
above entities
 
will be
 
provided in
 
the UBS
 
Group and
 
significant regulated
 
subsidiaries
and
 
sub-groups
 
30
 
June
 
2025
 
Pillar 3
 
Report,
 
which
 
will
 
be
 
available
 
under
 
“Pillar 3
 
disclosures”
 
at
ubs.com/investors
 
on 28 August 2025.
Credit Suisse International
(standalone)
All values in million, except where indicated
USD
Financial and regulatory requirements
IFRS Accounting Standards
UK regulatory rules
As of or for the quarter ended
30.6.25
31.3.25
Financial information
1
Income statement
Total operating income
2
56
44
Total operating expenses
107
152
Operating profit / (loss) before tax
(51)
(108)
Net profit / (loss)
(55)
(92)
Balance sheet
Total assets
27,505
34,030
Total liabilities
 
20,328
26,783
Total equity
7,177
7,247
Capital
3
Common equity tier 1 capital
6,734
6,816
Additional tier 1 capital
0
0
Total going concern capital / Tier 1 capital
6,734
6,816
Tier 2 capital
0
0
Total capital
6,734
6,816
Total gone concern loss-absorbing capacity
0
0
Total loss-absorbing capacity
6,734
6,816
Risk-weighted assets and leverage ratio
 
denominator
3
Risk-weighted assets
7,046
9,332
Leverage ratio denominator
19,754
23,341
Capital and leverage ratios (%)
3
Common equity tier 1 capital ratio
95.6
73.0
Going concern capital ratio / Tier 1 capital ratio
95.6
73.0
Total capital ratio
95.6
73.0
Total loss-absorbing capacity ratio
95.6
73.0
Tier 1 leverage ratio
34.1
29.2
Going concern leverage ratio
Total loss-absorbing capacity leverage ratio
34.1
29.2
Liquidity coverage ratio
3
High-quality liquid assets (bn)
12.4
14.0
Net cash outflows (bn)
3.5
4.1
Liquidity coverage ratio (%)
361.4
361.8
Net stable funding ratio
3
Total available stable funding (bn)
11.0
14.0
Total required stable funding (bn)
4.2
6.1
Net stable funding ratio (%)
266.1
241.8
1 The financial information disclosed does not represent a full set of financial statements under the
 
respective GAAP / IFRS Accounting Standards.
 
2 The total operating income includes credit loss expense or release.
 
3 Refer to the UBS Group and significant regulated subsidiaries and sub-groups 30 June 2025 Pillar 3 Report, available under “Pillar 3 disclosures”
 
at ubs.com/investors, for more information.
 
edgar00significantregp6i0
UBS Group AG
PO Box
CH-8098 Zurich
ubs.com
This
 
Form
 
6-K
 
is
 
hereby
 
incorporated
 
by
 
reference
 
into
 
(1)
 
each
 
of
 
the
 
registration
 
statements
 
on
 
Form
 
F-3
(Registration Number
 
333-283672), and
 
on Form
 
S-8 (Registration
 
Numbers 333-200634;
 
333-200635; 333-200641;
333-200665;
 
333-215254;
 
333-215255;
 
333-228653;
 
333-230312;
 
333-249143
 
and
 
333-272975),
 
and
 
into
 
each
prospectus outstanding
 
under any
 
of the
 
foregoing registration
 
statements, (2)
 
any outstanding
 
offering circular
 
or
similar document issued
 
or authorized by
 
UBS AG that
 
incorporates by reference
 
any Forms 6-K
 
of UBS AG
 
that
are incorporated into
 
its registration statements filed
 
with the SEC,
 
and (3) the
 
base prospectus of
 
Corporate Asset
Backed Corporation (“CABCO”)
 
dated June 23, 2004
 
(Registration Number 333-111572), the Form
 
8-K of CABCO
filed and
 
dated June
 
23, 2004
 
(SEC File
 
Number 001-13444),
 
and the
 
Prospectus Supplements
 
relating to
 
the CABCO
Series 2004-101 Trust dated May 10, 2004 and May 17, 2004 (Registration
 
Number 033-91744 and 033-91744-05).
 
 
 
 
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
 
registrants have duly caused this
report to be signed on their behalf by the undersigned, thereunto duly
 
authorized.
UBS Group AG
By:_/s/ David Kelly_____________
Name:
 
David Kelly
Title:
 
Managing Director
 
By:_/s/ Ella Copetti-Campi_____________
Name:
 
Ella Copetti-Campi
Title:
 
Executive Director
UBS AG
By:_/s/ David Kelly_____________
Name:
 
David Kelly
Title:
 
Managing Director
 
By:_/s/ Ella Copetti-Campi_____________
Name:
 
Ella Copetti-Campi
Title:
 
Executive Director
Date:
 
August 5, 2025