Debt issued held at amortized cost	12 Months Ended
Debt issued held at amortized cost	Dec. 31, 2021
Entity [Table]
Disclosure Of Debt Securities Explanatory	Note 17 Debt issued measured at amortized cost USD million 31.12.21 31.12.20 Certificates of deposit and commercial paper 40,640 41,151 Other short-term debt 2,458 5,515 Short-term debt 1 43,098 46,666 Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC) 38,984 36,611 Senior unsecured debt other than TLAC 27,590 21,340 of which: issued by UBS AG with original maturity greater than one year 2 23,307 18,464 Covered bonds 1,389 2,796 Subordinated debt 18,640 22,157 of which: high-trigger loss-absorbing additional tier 1 capital instruments 11,052 11,837 of which: low-trigger loss-absorbing additional tier 1 capital instruments 2,425 2,577 of which: low-trigger loss-absorbing tier 2 capital instruments 2,596 7,201 of which: non-Basel III-compliant tier 2 capital instruments 547 543 Debt issued through the Swiss central mortgage institutions 9,454 9,660 Other long-term debt 0 3 Long-term debt 3 96,057 92,566 Total debt issued measured at amortized cost 4 139,155 139,232 1 Debt with an original contractual maturity of less than one year. 2 Based on original contractual maturity without considering any early redemption features. As of 31 December 2021, 100 % of the balance was unsecured (31 December 2020: 100 %). 3 Debt with an original contractual 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 some cases, the Group applies hedge accounting for interest rate risk as discussed in item 2j in Note 1a and Note 26. As a result of applying hedge accounting, the life- to-date adjustment to the carrying amount of debt issued was an increase of USD 478 million as of 31 December 2021 and an increase of USD 2,401 million as of 31 December 2020, 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 subordinated debt instruments outstanding as of 31 December 2021 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 24 for maturity information on an undiscounted cash flow basis Contractual maturity of carrying amount USD million 2022 2023 2024 2025 2026 2027–2031 Thereafter Total 31.12.21 Total 31.12.20 UBS Group AG 1 Non-subordinated debt Fixed-rate 3,769 4,027 5,145 5,052 6,748 12,534 3,294 40,569 33,578 Floating-rate 492 2,183 0 0 0 0 0 2,676 5,890 Subordinated debt Fixed-rate 0 0 0 0 0 0 13,477 13,477 14,413 Subtotal 4,261 6,211 5,145 5,052 6,748 12,534 16,771 56,722 53,881 UBS AG 2 Non-subordinated debt Fixed-rate 38,647 5,578 1,964 349 3,439 1,381 1,213 52,571 52,618 Floating-rate 9,807 2,093 1,922 907 508 0 0 15,238 15,299 Subordinated debt Fixed-rate 2,020 0 2,596 337 210 0 0 5,163 7,744 Subtotal 50,474 7,671 6,482 1,594 4,158 1,381 1,213 72,972 75,661 Other subsidiaries 3 Non-subordinated debt Fixed-rate 907 1,007 1,072 1,173 1,045 3,674 582 9,460 9,690 Subtotal 907 1,007 1,072 1,173 1,045 3,674 582 9,460 9,690 Total 55,642 14,889 12,698 7,818 11,951 17,590 18,566 139,155 139,232 1 Consists of debt issued by the legal entity UBS Group AG. 2 Consists of debt issued by the legal entity UBS AG. 3 Consists of debt issued by subsidiaries of UBS AG.
UBS AG
Entity [Table]
Disclosure Of Debt Securities Explanatory	Note 17 Debt issued measured at amortized cost USD million 31.12.21 31.12.20 Certificates of deposit and commercial paper 40,640 41,151 Other short-term debt 2,458 5,515 Short-term debt 1 43,098 46,666 Senior unsecured debt 23,328 18,483 of which: issued by UBS AG with original maturity greater than one year 2 23,307 18,464 Covered bonds 1,389 2,796 Subordinated debt 5,163 7,744 of which: low-trigger loss-absorbing tier 2 capital instruments 2,596 7,201 of which: non-Basel III-compliant tier 2 capital instruments 547 543 Debt issued through the Swiss central mortgage institutions 9,454 9,660 Other long-term debt 0 3 Long-term debt 3 39,334 38,685 Total debt issued measured at amortized cost 4 82,432 85,351 1 Debt with an original contractual maturity of less than one year. 2 Based on original contractual maturity without considering any early redemption features. As of 31 December 2021, 100 % of the balance was unsecured (31 December 2020: 100 %). 3 Debt with an original contractual 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 some cases, UBS AG applies hedge accounting for interest rate risk as discussed in item 2j in Note 1a and Note 26. As a result of applying hedge accounting, the life-to-date adjustment to the carrying amount of debt issued was an increase of USD 261 million as of 31 December 2021 and an increase of USD 761 million as of 31 December 2020, 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 subo rdinated debt instruments outstanding as of 31 December 2021 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 24 for maturity information on an undiscounted cash flow basis Contractual maturity of carrying amount USD million 2022 2023 2024 2025 2026 2027–2031 Thereafter Total 31.12.21 Total 31.12.20 UBS AG 1 Non-subordinated debt Fixed-rate 38,647 5,578 1,964 349 3,439 1,381 1,213 52,571 52,618 Floating-rate 9,807 2,093 1,922 907 508 0 0 15,238 15,299 Subordinated debt Fixed-rate 2,020 0 2,596 337 210 0 0 5,163 7,744 Subtotal 50,474 7,671 6,482 1,594 4,158 1,381 1,213 72,972 75,661 Other subsidiaries 2 Non-subordinated debt Fixed-rate 907 1,007 1,072 1,173 1,045 3,674 582 9,460 9,690 Subtotal 907 1,007 1,072 1,173 1,045 3,674 582 9,460 9,690 Total 51,381 8,679 7,554 2,766 5,203 5,055 1,795 82,432 85,351 1 Consists of debt issued by the legal entity UBS AG. 2 Consists of debt issued by subsidiaries of UBS AG.