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Offsetting financial assets and financial liabilities
 12 Months Ended
Dec. 31, 2021
Entity [Table]  
Disclosure Of Offsetting Of Financial Assets And Financial Liabilities Explanatory
Note 22
 
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 tables on this page and the next page
 
provide a summary
of
 
financial
 
assets
 
and
 
financial
 
liabilities
 
subject
 
to
 
offsetting,
enforceable master netting
 
arrangements and
 
similar agreements,
as well as
 
financial collateral received
 
or pledged to
 
mitigate credit
exposures for these financial instruments.
 
The
 
Group
 
engages
 
in
 
a
 
variety
 
of
 
counterparty
 
credit
 
risk
mitigation
 
strategies
 
in
 
addition
 
to
 
netting
 
and
 
collateral
arrangements. Therefore the net amounts presented in the
 
tables
on this page and the next page do not purport to
 
represent their
actual credit risk 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 31.12.21, 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
67.7
(13.8)
53.9
(2.9)
(51.0)
0.0
21.1
21.1
75.0
Derivative financial instruments
 
116.0
(3.6)
112.4
(88.9)
(18.5)
5.0
5.7
10.7
118.1
Cash collateral receivables on
 
derivative instruments
1
29.4
0.0
29.4
(15.2)
(3.3)
11.0
1.1
12.1
30.5
Financial assets at fair value
 
not held for trading
93.1
(87.6)
5.5
(1.1)
(4.4)
0.0
54.6
54.6
60.1
of which: reverse
 
repurchase agreements
93.1
(87.6)
5.5
(1.1)
(4.4)
0.0
0.3
0.3
5.8
Total assets
306.2
(105.0)
201.2
(108.1)
(77.2)
15.9
82.6
98.5
283.7
As of 31.12.20, USD billion
Receivables from securities
 
financing transactions
70.3
(13.4)
57.0
(1.7)
(55.3)
0.0
17.3
17.3
74.2
Derivative financial instruments
 
156.9
(5.0)
151.9
(117.2)
(27.2)
7.5
7.7
15.2
159.6
Cash collateral receivables on
 
derivative instruments
1
31.9
0.0
31.9
(19.6)
(1.5)
10.8
0.8
11.6
32.7
Financial assets at fair value
 
not held for trading
85.6
(79.1)
6.5
(0.8)
(5.8)
0.0
73.9
73.9
80.4
of which: reverse
 
repurchase agreements
85.6
(79.1)
6.5
(0.8)
(5.8)
0.0
0.2
0.2
6.7
Total assets
344.8
(97.5)
247.3
(139.3)
(89.8)
18.3
99.7
117.9
346.9
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.
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 31.12.21, 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
16.9
(12.8)
4.1
(1.8)
(2.3)
0.0
1.4
1.4
5.5
Derivative financial instruments
 
118.4
(3.6)
114.9
(88.9)
(18.1)
7.9
6.4
14.3
121.3
Cash collateral payables on
 
derivative instruments
1
30.4
0.0
30.4
(13.1)
(3.3)
14.0
1.4
15.4
31.8
Other financial liabilities
 
designated at fair value
94.8
(88.6)
6.2
(2.2)
(3.8)
0.2
23.9
24.1
30.1
of which: repurchase agreements
94.6
(88.6)
6.0
(2.2)
(3.8)
0.0
0.4
0.4
6.4
Total liabilities
260.6
(105.0)
155.6
(106.0)
(27.5)
22.1
33.1
55.2
188.7
As of 31.12.20, USD billion
Payables from securities
 
financing transactions
18.2
(13.3)
4.9
(1.6)
(3.3)
0.0
1.4
1.4
6.3
Derivative financial instruments
 
157.1
(5.0)
152.1
(117.2)
(23.9)
10.9
9.0
19.9
161.1
Cash collateral payables on
 
derivative instruments
1
35.6
0.0
35.6
(19.6)
(2.1)
13.9
1.7
15.7
37.3
Other financial liabilities
 
designated at fair value
87.0
(79.2)
7.8
(0.8)
(6.3)
0.7
22.6
23.3
30.4
of which: repurchase agreements
86.2
(79.2)
7.0
(0.8)
(6.3)
0.0
0.3
0.3
7.3
Total liabilities
297.8
(97.5)
200.3
(139.2)
(35.5)
25.6
34.8
60.4
235.1
1 The net amount of Cash collateral payables 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 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  
Entity [Table]  
Disclosure Of Offsetting Of Financial Assets And Financial Liabilities Explanatory
Note 22
 
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 tables on this page and the next page
 
provide a summary
of
 
financial
 
assets
 
and
 
financial
 
liabilities
 
subject
 
to
 
offsetting,
enforceable master netting
 
arrangements and
 
similar agreements,
as well as
 
financial collateral received
 
or pledged to
 
mitigate credit
exposures for these financial instruments.
 
UBS
 
AG
 
engages
 
in
 
a
 
variety
 
of
 
counterparty
 
credit
 
risk
mitigation
 
strategies
 
in
 
addition
 
to
 
netting
 
and
 
collateral
arrangements. Therefore, the
 
net amounts presented
 
in the tables
on this page and the next page do not purport to
 
represent their
actual credit risk 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 31.12.21, 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
67.7
(13.8)
53.9
(2.9)
(51.0)
0.0
21.1
21.1
75.0
Derivative financial instruments
 
116.0
(3.6)
112.4
(88.9)
(18.5)
5.0
5.8
10.7
118.1
Cash collateral receivables on
 
derivative instruments
1
29.4
0.0
29.4
(15.2)
(3.3)
11.0
1.1
12.1
30.5
Financial assets at fair value
 
not held for trading
93.1
(87.6)
5.5
(1.1)
(4.4)
0.0
54.1
54.1
59.6
of which: reverse
 
repurchase agreements
93.1
(87.6)
5.5
(1.1)
(4.4)
0.0
0.3
0.3
5.8
Total assets
306.2
(105.0)
201.2
(108.1)
(77.2)
15.9
82.1
98.1
283.3
As of 31.12.20, USD billion
Receivables from securities
 
financing transactions
70.3
(13.4)
57.0
(1.7)
(55.3)
0.0
17.3
17.3
74.2
Derivative financial instruments
 
156.9
(5.0)
151.9
(117.2)
(27.2)
7.5
7.7
15.2
159.6
Cash collateral receivables on
 
derivative instruments
1
31.9
0.0
31.9
(19.6)
(1.5)
10.8
0.8
11.6
32.7
Financial assets at fair value
 
not held for trading
85.6
(79.1)
6.5
(0.8)
(5.8)
0.0
73.5
73.5
80.0
of which: reverse
 
repurchase agreements
85.6
(79.1)
6.5
(0.8)
(5.8)
0.0
0.2
0.2
6.7
Total assets
344.8
(97.5)
247.3
(139.3)
(89.8)
18.3
99.3
117.6
346.6
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.
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 31.12.21, 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
16.9
(12.8)
4.1
(1.8)
(2.3)
0.0
1.4
1.4
5.5
Derivative financial instruments
 
118.4
(3.6)
114.9
(88.9)
(18.1)
7.9
6.4
14.3
121.3
Cash collateral payables on
 
derivative instruments
1
30.4
0.0
30.4
(13.1)
(3.3)
14.0
1.4
15.4
31.8
Other financial liabilities
 
designated at fair value
94.8
(88.6)
6.2
(2.2)
(3.8)
0.2
26.3
26.5
32.4
of which: repurchase agreements
94.6
(88.6)
6.0
(2.2)
(3.8)
0.0
0.4
0.4
6.4
Total liabilities
260.6
(105.0)
155.6
(106.0)
(27.5)
22.1
35.5
57.6
191.1
As of 31.12.20, USD billion
Payables from securities
 
financing transactions
18.2
(13.3)
4.9
(1.6)
(3.3)
0.0
1.4
1.4
6.3
Derivative financial instruments
 
157.1
(5.0)
152.1
(117.2)
(23.9)
10.9
9.0
19.9
161.1
Cash collateral payables on
 
derivative instruments
1
35.6
0.0
35.6
(19.6)
(2.1)
13.9
1.7
15.7
37.3
Other financial liabilities
 
designated at fair value
87.0
(79.2)
7.8
(0.8)
(6.3)
0.7
24.0
24.7
31.8
of which: repurchase agreements
86.2
(79.2)
7.0
(0.8)
(6.3)
0.0
0.3
0.3
7.3
Total liabilities
297.8
(97.5)
200.3
(139.2)
(35.5)
25.6
36.2
61.7
236.5
1 The net amount of Cash collateral payables 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 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.