XML 25 R17.htm IDEA: XBRL DOCUMENT v3.22.2
Expected credit loss measurement
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Jun. 30, 2022
Entity [Table]        
Disclosure Of Provision Matrix Explanatory
USD m
30.6.22
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
190,353
190,296
57
0
(13)
0
(13)
0
Loans and advances to banks
16,596
16,479
117
0
(8)
(7)
(1)
0
Receivables from securities financing transactions
63,291
63,291
0
0
(2)
(2)
0
0
Cash collateral receivables on derivative
 
instruments
43,763
43,763
0
0
0
0
0
0
Loans and advances to customers
383,898
366,452
15,759
1,686
(793)
(128)
(163)
(501)
of which: Private clients with mortgages
150,884
142,050
8,064
770
(126)
(27)
(72)
(27)
of which: Real estate financing
43,291
39,358
3,925
7
(59)
(17)
(42)
0
of which: Large corporate clients
12,208
10,791
1,088
329
(141)
(27)
(17)
(98)
of which: SME clients
13,309
11,744
1,167
397
(249)
(22)
(22)
(205)
of which: Lombard
140,333
140,251
0
82
(37)
(7)
0
(29)
of which: Credit cards
1,760
1,384
349
27
(36)
(10)
(9)
(17)
of which: Commodity trade finance
3,699
3,686
0
12
(94)
(5)
0
(89)
Other financial assets measured at amortized cost
2
37,528
36,977
391
160
(99)
(18)
(7)
(74)
of which: Loans to financial advisors
2,447
2,171
144
132
(78)
(11)
(2)
(64)
Total financial assets
 
measured at amortized cost
735,428
717,257
16,325
1,846
(915)
(155)
(184)
(575)
Financial assets measured at
 
fair value through other comprehensive
 
income
2
2,251
2,251
0
0
0
0
0
0
Total on-balance
 
sheet financial assets in scope of ECL requirements
737,679
719,508
16,325
1,846
(915)
(155)
(184)
(575)
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
22,556
21,381
1,028
146
(40)
(16)
(9)
(15)
of which: Large corporate clients
3,539
2,710
734
95
(10)
(3)
(3)
(4)
of which: SME clients
1,213
1,034
128
51
(9)
(1)
(1)
(7)
of which: Financial intermediaries and hedge funds
 
12,113
12,021
92
0
(16)
(11)
(5)
0
of which: Lombard
2,332
2,332
0
0
(1)
0
0
(1)
of which: Commodity trade finance
2,388
2,387
0
0
(1)
(1)
0
0
Irrevocable loan commitments
37,703
35,308
2,359
37
(113)
(67)
(46)
0
of which: Large corporate clients
22,649
21,001
1,642
6
(94)
(60)
(34)
0
Forward starting reverse repurchase
 
and securities borrowing agreements
3,985
3,985
0
0
0
0
0
0
Committed unconditionally revocable credit lines
39,756
37,407
2,306
42
(37)
(27)
(10)
0
of which: Real estate financing
9,123
8,931
193
0
(5)
(5)
0
0
of which: Large corporate clients
4,354
3,662
687
5
(6)
(1)
(5)
0
of which: SME clients
4,660
4,240
392
29
(16)
(13)
(3)
0
of which: Lombard
7,697
7,693
0
4
0
0
0
0
of which: Credit cards
9,162
8,725
433
3
(6)
(4)
(2)
0
of which: Commodity trade finance
172
172
0
0
0
0
0
0
Irrevocable committed prolongation of existing loans
5,156
5,136
18
2
(2)
(2)
0
0
Total off-balance sheet
 
financial instruments and other
 
credit lines
109,156
103,217
5,712
228
(192)
(112)
(66)
(15)
Total allowances and
 
provisions
(1,107)
(267)
(250)
(590)
1 The carrying amount
 
of financial assets measured
 
at amortized cost represents
 
the total gross exposure
 
net of the respective ECL
 
allowances.
 
2 Effective
 
1 April 2022, a portfolio
 
of assets previously classified
 
as
Financial assets measured at fair
 
value through other comprehensive
 
income was reclassified to
 
Other financial assets
 
measured at amortized cost.
 
Refer to Note 1 for more information.
Coverage ratios for core loan
 
portfolio
30.6.22
Gross carrying amount (USD
 
m)
ECL coverage (bps)
On-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
151,010
142,077
8,136
798
8
2
88
7
342
Real estate financing
43,350
39,375
3,967
8
14
4
106
14
505
Total real estate lending
194,360
181,452
12,103
805
10
2
94
8
344
Large corporate clients
12,349
10,818
1,105
427
114
25
153
37
2,286
SME clients
13,558
11,766
1,190
602
184
19
187
34
3,400
Total corporate lending
25,907
22,584
2,294
1,029
151
22
170
35
2,938
Lombard
140,370
140,259
0
111
3
1
0
1
2,641
Credit cards
1,796
1,394
359
43
201
72
263
111
3,805
Commodity trade finance
3,793
3,692
0
101
248
15
0
15
8,768
Other loans and advances to customers
18,466
17,201
1,167
98
28
8
7
8
3,796
Loans to financial advisors
2,525
2,182
147
196
307
50
163
57
3,278
Total other lending
166,949
164,728
1,672
549
18
3
76
4
4,293
Total
1
387,216
368,763
16,069
2,383
22
4
103
8
2,373
Gross exposure (USD m)
ECL coverage (bps)
Off-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
6,860
6,658
199
3
4
3
9
3
786
Real estate financing
10,336
10,126
210
0
11
6
232
11
0
Total real estate lending
17,196
16,784
409
3
8
5
123
8
786
Large corporate clients
30,750
27,581
3,062
107
36
23
136
35
368
SME clients
7,301
6,603
589
109
45
23
178
36
649
Total corporate lending
38,051
34,184
3,651
216
37
23
143
35
510
Lombard
12,931
12,927
0
4
1
0
0
0
0
Credit cards
9,162
8,725
433
3
7
5
36
7
0
Commodity trade finance
2,615
2,615
0
0
4
4
0
4
0
Financial intermediaries and hedge funds
16,668
16,151
517
0
11
7
129
11
0
Other off-balance sheet commitments
8,548
7,845
701
2
11
8
5
8
0
Total other lending
49,924
48,264
1,651
9
7
5
52
7
0
Total
2
105,171
99,232
5,712
228
18
11
115
17
644
1 Includes Loans and
 
advances to customers
 
of USD
384,691
m and Loans to financial
 
advisors of USD
2,525
m, which are presented
 
on the balance sheet
 
line Other assets
 
measured at amortized
 
cost.
 
2 Excludes
Forward starting reverse
 
repurchase and securities
 
borrowing agreements.
USD m
31.3.22
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
206,773
206,728
46
0
(6)
0
(6)
0
Loans and advances to banks
17,914
17,850
65
0
(9)
(8)
(1)
0
Receivables from securities financing transactions
69,452
69,452
0
0
(2)
(2)
0
0
Cash collateral receivables on derivative
 
instruments
39,253
39,253
0
0
0
0
0
0
Loans and advances to customers
392,189
375,198
15,513
1,478
(801)
(121)
(155)
(525)
of which: Private clients with mortgages
153,645
145,272
7,702
671
(126)
(27)
(71)
(28)
of which: Real estate financing
43,920
40,006
3,907
7
(57)
(17)
(40)
0
of which: Large corporate clients
13,432
11,966
1,169
296
(143)
(21)
(14)
(108)
of which: SME clients
13,911
11,995
1,508
407
(260)
(22)
(20)
(218)
of which: Lombard
144,398
144,374
0
24
(34)
(7)
0
(27)
of which: Credit cards
1,709
1,341
341
28
(36)
(10)
(9)
(17)
of which: Commodity trade finance
4,441
4,425
7
9
(103)
(6)
0
(96)
Other financial assets measured at amortized cost
28,697
28,228
302
168
(109)
(27)
(7)
(75)
of which: Loans to financial advisors
2,388
2,164
86
138
(86)
(20)
(3)
(63)
Total financial assets
 
measured at amortized cost
754,279
736,708
15,925
1,646
(927)
(158)
(170)
(600)
Financial assets measured at
 
fair value through other comprehensive
 
income
9,093
9,093
0
0
0
0
0
0
Total on-balance
 
sheet financial assets in scope of ECL requirements
763,371
745,800
15,925
1,646
(927)
(158)
(170)
(600)
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
22,496
21,264
1,072
159
(66)
(17)
(10)
(39)
of which: Large corporate clients
3,459
2,621
736
102
(32)
(3)
(4)
(26)
of which: SME clients
1,318
1,154
107
57
(11)
(1)
(1)
(9)
of which: Financial intermediaries and hedge funds
 
11,428
11,307
121
0
(16)
(12)
(5)
0
of which: Lombard
2,545
2,545
0
0
(1)
0
0
(1)
of which: Commodity trade finance
2,680
2,680
0
0
(1)
(1)
0
0
Irrevocable loan commitments
38,039
35,827
2,123
89
(112)
(68)
(44)
0
of which: Large corporate clients
23,698
21,723
1,916
58
(98)
(63)
(35)
0
Forward starting reverse repurchase
 
and securities borrowing agreements
6,432
6,432
0
0
0
0
0
0
Committed unconditionally revocable credit lines
41,396
38,616
2,715
65
(40)
(30)
(10)
0
of which: Real estate financing
9,621
9,343
278
0
(7)
(5)
(2)
0
of which: Large corporate clients
4,618
3,862
733
23
(5)
(2)
(3)
0
of which: SME clients
4,793
4,254
503
37
(15)
(12)
(3)
0
of which: Lombard
8,216
8,216
0
0
0
0
0
0
of which: Credit cards
9,398
8,941
453
4
(6)
(5)
(2)
0
of which: Commodity trade finance
280
280
0
0
0
0
0
0
Irrevocable committed prolongation of existing loans
5,355
5,342
12
2
(2)
(2)
0
0
Total off-balance sheet
 
financial instruments and other
 
credit lines
113,718
107,482
5,922
314
(221)
(117)
(64)
(39)
Total allowances and
 
provisions
(1,148)
(275)
(234)
(639)
1 The carrying amount
 
of financial assets measured
 
at amortized cost represents
 
the total gross exposure
 
net of the respective ECL
 
allowances.
Coverage ratios for core loan
 
portfolio
31.3.22
Gross carrying amount (USD m)
ECL coverage (bps)
On-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
153,771
145,299
7,773
699
8
2
91
6
403
Real estate financing
43,977
40,023
3,947
7
13
4
102
13
455
Total real estate lending
197,748
185,321
11,720
707
9
2
95
8
404
Large corporate clients
13,574
11,987
1,184
404
105
17
122
27
2,666
SME clients
14,170
12,017
1,528
626
183
18
130
31
3,489
Total corporate lending
27,745
24,004
2,712
1,029
145
18
127
29
3,166
Lombard
144,432
144,381
0
51
2
0
0
0
5,326
Credit cards
1,745
1,351
350
44
204
72
256
110
3,803
Commodity trade finance
4,544
4,432
7
105
226
14
2
14
9,157
Other loans and advances to customers
16,776
15,831
879
66
25
8
9
8
4,517
Loans to financial advisors
2,473
2,184
88
201
347
92
322
101
3,132
Total other lending
169,970
168,178
1,325
468
18
3
95
4
4,986
Total
1
395,463
377,503
15,757
2,204
22
4
100
8
2,667
Gross exposure (USD m)
ECL coverage (bps)
Off-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
7,972
7,733
236
3
3
3
7
3
241
Real estate financing
10,787
10,499
287
0
9
6
118
9
0
Total real estate lending
18,759
18,232
523
3
7
5
68
7
241
Large corporate clients
31,774
28,206
3,384
183
43
24
124
35
1,410
SME clients
7,512
6,693
700
119
48
23
159
36
791
Total corporate lending
39,286
34,899
4,084
303
44
24
130
35
1,166
Lombard
13,761
13,761
0
0
1
0
0
0
0
Credit cards
9,398
8,941
453
4
7
5
34
7
0
Commodity trade finance
2,960
2,960
0
0
4
4
0
4
0
Financial intermediaries and hedge funds
10,739
10,141
598
0
16
12
83
16
0
Other off-balance sheet commitments
12,384
12,115
265
4
9
5
40
6
0
Total other lending
49,241
47,918
1,315
8
8
5
58
7
0
Total
2
107,286
101,049
5,922
314
21
12
108
17
1,255
1 Includes Loans and
 
advances to customers
 
of USD
392,990
m and Loans to financial
 
advisors of USD
2,473
m, which are presented
 
on the balance sheet
 
line Other assets
 
measured at amortized
 
cost.
 
2 Excludes
Forward starting reverse
 
repurchase and securities
 
borrowing agreements.
USD m
31.12.21
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
192,817
192,817
0
0
0
0
0
0
Loans and advances to banks
15,480
15,453
26
1
(8)
(7)
(1)
0
Receivables from securities financing transactions
75,012
75,012
0
0
(2)
(2)
0
0
Cash collateral receivables on derivative
 
instruments
30,514
30,514
0
0
0
0
0
0
Loans and advances to customers
397,761
380,564
15,620
1,577
(850)
(126)
(152)
(572)
of which: Private clients with mortgages
152,479
143,505
8,262
711
(132)
(28)
(71)
(33)
of which: Real estate financing
43,945
40,463
3,472
9
(60)
(19)
(40)
0
of which: Large corporate clients
13,990
12,643
1,037
310
(170)
(22)
(16)
(133)
of which: SME clients
14,004
12,076
1,492
436
(259)
(19)
(15)
(225)
of which: Lombard
149,283
149,255
0
27
(33)
(6)
0
(28)
of which: Credit cards
1,716
1,345
342
29
(36)
(10)
(9)
(17)
of which: Commodity trade finance
3,813
3,799
7
7
(114)
(6)
0
(108)
Other financial assets measured at amortized cost
26,209
25,718
302
189
(109)
(27)
(7)
(76)
of which: Loans to financial advisors
2,453
2,184
106
163
(86)
(19)
(3)
(63)
Total financial assets
 
measured at amortized cost
737,794
720,079
15,948
1,767
(969)
(161)
(160)
(647)
Financial assets measured at
 
fair value through other comprehensive
 
income
8,844
8,844
0
0
0
0
0
0
Total on-balance
 
sheet financial assets in scope of ECL requirements
746,638
728,923
15,948
1,767
(969)
(161)
(160)
(647)
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
20,972
19,695
1,127
150
(41)
(18)
(8)
(15)
of which: Large corporate clients
3,464
2,567
793
104
(6)
(3)
(3)
0
of which: SME clients
1,353
1,143
164
46
(8)
(1)
(1)
(7)
of which: Financial intermediaries and hedge funds
 
9,575
9,491
84
0
(17)
(13)
(4)
0
of which: Lombard
2,454
2,454
0
0
(1)
0
0
(1)
of which: Commodity trade finance
3,137
3,137
0
0
(1)
(1)
0
0
Irrevocable loan commitments
39,478
37,097
2,335
46
(114)
(72)
(42)
0
of which: Large corporate clients
23,922
21,811
2,102
9
(100)
(66)
(34)
0
Forward starting reverse repurchase
 
and securities borrowing agreements
1,444
1,444
0
0
0
0
0
0
Committed unconditionally revocable credit lines
40,778
38,207
2,508
63
(38)
(28)
(10)
0
of which: Real estate financing
7,328
7,046
281
0
(5)
(4)
(1)
0
of which: Large corporate clients
5,358
4,599
736
23
(7)
(4)
(3)
0
of which: SME clients
5,160
4,736
389
35
(15)
(11)
(3)
0
of which: Lombard
8,670
8,670
0
0
0
0
0
0
of which: Credit cards
9,466
9,000
462
4
(6)
(5)
(2)
0
of which: Commodity trade finance
117
117
0
0
0
0
0
0
Irrevocable committed prolongation of existing loans
5,611
5,527
36
48
(3)
(3)
0
0
Total off-balance sheet
 
financial instruments and other
 
credit lines
108,284
101,971
6,006
307
(196)
(121)
(60)
(15)
Total allowances and
 
provisions
(1,165)
(282)
(220)
(662)
1 The carrying amount
 
of financial assets measured
 
at amortized cost represents
 
the total gross exposure
 
net of the respective ECL allowances.
Note 7
 
Expected credit loss
 
measurement
a) Credit loss expense
 
/ release
Total
 
net
 
credit loss
 
expenses in
 
the
 
second quarter
 
of
 
2022
 
were
 
USD
7
m,
 
reflecting USD
16
m net
 
credit loss
expenses related to stage
 
1 and 2 positions and
 
USD
9
m net credit loss releases
 
related to stage
 
3 positions.
Stage 1 and 2 net expenses included: scenario-related net expenses of USD
10
m related to Personal & Corporate
Banking corporate lending; net
 
releases of USD
9
m from model
 
changes, mainly in Global
 
Wealth Management
Americas; and additional net expenses of
 
USD
14
m from book quality and
 
size changes, mainly across corporate
and real estate lending
 
portfolios of Personal &
 
Corporate Banking.
Stage 3 net credit loss releases were
 
USD
9
m, driven by a release of USD
26
m in the Investment Bank,
 
including a
reduction of
 
the allowance
 
for a
 
single defaulted
 
travel-industry-related counterparty (USD
28
m), mainly
 
due to
improved cash
 
flow assumptions.
 
Personal &
 
Corporate Banking,
 
Global Wealth
 
Management and
 
Non-core
 
legacy
contributed net expenses
 
of USD
8
m, USD
6
m and USD
2
m, respectively.
b) Changes to ECL models,
 
scenarios, scenario weights
 
and post-model adjustments
Scenarios
The expected credit loss (ECL) scenarios, along with the related macroeconomic factors, were reviewed in light of
the
 
economic and
 
political conditions
 
prevailing
 
in the
 
second quarter
 
of 2022
 
through
 
a series
 
of
 
governance
meetings, with input and
 
feedback from UBS
 
Risk and Finance experts
 
across the business
 
divisions and regions.
The baseline scenario assumptions on a calendar-year basis are included in the table below
 
and outline a weaker
economic forecast for
 
2022 compared with
 
2021.
As
 
a
 
response to
 
inflationary developments
 
and Russia’s
 
invasion of
 
Ukraine, in
 
the
 
first
 
quarter of
 
2022,
 
UBS
replaced the mild global interest rate
 
steepening scenario applied
 
at year-end
 
2021 with the severe global interest
rate steepening scenario. The aim was to reflect the
 
rising trend in inflation and ongoing tightening of monetary
policy measures, which would lead
 
to substantially lower GDP
 
growth in key
 
markets. For the second
 
quarter of
2022,
 
a new
 
severe Russia–Ukraine conflict scenario was
 
developed. It has
 
similar dynamics to
 
the severe global
interest rate steepening scenario,
 
but includes an escalating
 
energy crisis and
 
disruptions
 
in the delivery of Russian
energy.
 
These factors result in
 
surging commodity prices and accelerated inflation in
 
major economies compared
with the severe
 
global interest
 
rate steepening
 
scenario. Eurozone
 
economic activity
 
in particular
 
is impacted in
 
this
scenario, due to the region’s
 
reliance on its supply
 
of energy from
 
Russia.
The global crisis scenario and
 
the asset price inflation
 
scenario were updated with
 
current macroeconomic
 
factors,
but remain materially
 
unchanged.
Scenario weights
UBS kept scenario weights in line with those applied
 
in the first quarter of 2022, with the
25
% weight previously
assigned to the severe global
 
interest rate steepening scenario instead applied to the
 
replacement severe Russia–
Ukraine conflict
 
scenario.
 
Scenario weights
 
applied
 
in the
 
second
 
and first
 
quarters
 
of 2022
 
differ from
 
those applied
for annual reporting 2021,
 
in order to account for the
 
more adverse outlook.
Post-model adjustments
The PMA represent
 
uncertainty and
 
risk related to
 
substantially
 
heightened geopolitical
 
tensions and
 
the continued
COVID-19 pandemic,
 
which cannot be fully
 
and reliably modeled
 
due to a lack of
 
sufficiently supportable
 
data.
The
 
PMA
 
were reduced
 
during
 
the
 
first and
 
second quarters
 
of
 
2022
 
as
 
the application
 
of
 
different and
 
more
adverse scenarios and scenario
 
assumptions in UBS’s
 
models addressed some of
 
the uncertainties that had
 
been
reflected in the PMA
 
in prior periods.
Comparison of shock
 
factors
Baseline
Key parameters
2021
2022
2023
Real GDP growth (annual percentage
 
change)
US
 
5.5
2.9
2.4
Eurozone
5.1
2.9
2.2
Switzerland
3.1
2.5
1.5
Unemployment rate (%, annual
 
average)
US
 
5.4
3.5
3.2
Eurozone
7.7
6.8
6.8
Switzerland
3.0
2.1
1.9
Real estate (annual percentage change,
 
Q4)
US
 
16.1
2.0
1.7
Eurozone
7.9
5.0
1.7
Switzerland
6.0
4.0
0.0
Economic scenarios and
 
weights applied
Assigned weights in %
ECL scenario
30.6.22
31.3.22
31.12.21
Upside
0.0
0.0
5.0
Baseline
55.0
55.0
55.0
Mild global interest rate steepening
 
-
-
10.0
Severe global interest rate steepening
 
-
25.0
-
Severe Russia–Ukraine conflict scenario
25.0
-
-
Global crisis
 
20.0
20.0
30.0
c) ECL-relevant balance
 
sheet and off-balance
 
sheet positions
 
including
 
ECL allowances and provisions
The following
 
tables provide
 
information
 
about financial
 
instruments and
 
certain
 
non-financial instruments
 
that are
subject
 
to
 
ECL
 
requirements.
 
For
 
amortized-cost
 
instruments,
 
the
 
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 amortized-cost
 
instruments,
the allowance
 
for credit
 
losses for
 
FVOCI instruments
 
does not
 
reduce the
 
carrying
 
amount of
 
these financial
 
assets.
Instead, the
 
carrying
 
amount
 
of financial
 
assets measured
 
at FVOCI
 
represents
 
the
 
maximum exposure
 
to credit
 
risk.
In addition to recognized 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
 
contractual amounts.
USD m
30.6.22
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
190,353
190,296
57
0
(13)
0
(13)
0
Loans and advances to banks
16,596
16,479
117
0
(8)
(7)
(1)
0
Receivables from securities financing transactions
63,291
63,291
0
0
(2)
(2)
0
0
Cash collateral receivables on derivative
 
instruments
43,763
43,763
0
0
0
0
0
0
Loans and advances to customers
383,898
366,452
15,759
1,686
(793)
(128)
(163)
(501)
of which: Private clients with mortgages
150,884
142,050
8,064
770
(126)
(27)
(72)
(27)
of which: Real estate financing
43,291
39,358
3,925
7
(59)
(17)
(42)
0
of which: Large corporate clients
12,208
10,791
1,088
329
(141)
(27)
(17)
(98)
of which: SME clients
13,309
11,744
1,167
397
(249)
(22)
(22)
(205)
of which: Lombard
140,333
140,251
0
82
(37)
(7)
0
(29)
of which: Credit cards
1,760
1,384
349
27
(36)
(10)
(9)
(17)
of which: Commodity trade finance
3,699
3,686
0
12
(94)
(5)
0
(89)
Other financial assets measured at amortized cost
2
37,528
36,977
391
160
(99)
(18)
(7)
(74)
of which: Loans to financial advisors
2,447
2,171
144
132
(78)
(11)
(2)
(64)
Total financial assets
 
measured at amortized cost
735,428
717,257
16,325
1,846
(915)
(155)
(184)
(575)
Financial assets measured at
 
fair value through other comprehensive
 
income
2
2,251
2,251
0
0
0
0
0
0
Total on-balance
 
sheet financial assets in scope of ECL requirements
737,679
719,508
16,325
1,846
(915)
(155)
(184)
(575)
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
22,556
21,381
1,028
146
(40)
(16)
(9)
(15)
of which: Large corporate clients
3,539
2,710
734
95
(10)
(3)
(3)
(4)
of which: SME clients
1,213
1,034
128
51
(9)
(1)
(1)
(7)
of which: Financial intermediaries and hedge funds
 
12,113
12,021
92
0
(16)
(11)
(5)
0
of which: Lombard
2,332
2,332
0
0
(1)
0
0
(1)
of which: Commodity trade finance
2,388
2,387
0
0
(1)
(1)
0
0
Irrevocable loan commitments
37,703
35,308
2,359
37
(113)
(67)
(46)
0
of which: Large corporate clients
22,649
21,001
1,642
6
(94)
(60)
(34)
0
Forward starting reverse repurchase
 
and securities borrowing agreements
3,985
3,985
0
0
0
0
0
0
Committed unconditionally revocable credit lines
39,756
37,407
2,306
42
(37)
(27)
(10)
0
of which: Real estate financing
9,123
8,931
193
0
(5)
(5)
0
0
of which: Large corporate clients
4,354
3,662
687
5
(6)
(1)
(5)
0
of which: SME clients
4,660
4,240
392
29
(16)
(13)
(3)
0
of which: Lombard
7,697
7,693
0
4
0
0
0
0
of which: Credit cards
9,162
8,725
433
3
(6)
(4)
(2)
0
of which: Commodity trade finance
172
172
0
0
0
0
0
0
Irrevocable committed prolongation of existing loans
5,156
5,136
18
2
(2)
(2)
0
0
Total off-balance sheet
 
financial instruments and other
 
credit lines
109,156
103,217
5,712
228
(192)
(112)
(66)
(15)
Total allowances and
 
provisions
(1,107)
(267)
(250)
(590)
1 The carrying amount
 
of financial assets measured
 
at amortized cost represents
 
the total gross exposure
 
net of the respective ECL
 
allowances.
 
2 Effective
 
1 April 2022, a portfolio
 
of assets previously classified
 
as
Financial assets measured at fair
 
value through other comprehensive
 
income was reclassified to
 
Other financial assets
 
measured at amortized cost.
 
Refer to Note 1 for more information.
USD m
31.3.22
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
206,773
206,728
46
0
(6)
0
(6)
0
Loans and advances to banks
17,914
17,850
65
0
(9)
(8)
(1)
0
Receivables from securities financing transactions
69,452
69,452
0
0
(2)
(2)
0
0
Cash collateral receivables on derivative
 
instruments
39,253
39,253
0
0
0
0
0
0
Loans and advances to customers
392,189
375,198
15,513
1,478
(801)
(121)
(155)
(525)
of which: Private clients with mortgages
153,645
145,272
7,702
671
(126)
(27)
(71)
(28)
of which: Real estate financing
43,920
40,006
3,907
7
(57)
(17)
(40)
0
of which: Large corporate clients
13,432
11,966
1,169
296
(143)
(21)
(14)
(108)
of which: SME clients
13,911
11,995
1,508
407
(260)
(22)
(20)
(218)
of which: Lombard
144,398
144,374
0
24
(34)
(7)
0
(27)
of which: Credit cards
1,709
1,341
341
28
(36)
(10)
(9)
(17)
of which: Commodity trade finance
4,441
4,425
7
9
(103)
(6)
0
(96)
Other financial assets measured at amortized cost
28,697
28,228
302
168
(109)
(27)
(7)
(75)
of which: Loans to financial advisors
2,388
2,164
86
138
(86)
(20)
(3)
(63)
Total financial assets
 
measured at amortized cost
754,279
736,708
15,925
1,646
(927)
(158)
(170)
(600)
Financial assets measured at
 
fair value through other comprehensive
 
income
9,093
9,093
0
0
0
0
0
0
Total on-balance
 
sheet financial assets in scope of ECL requirements
763,371
745,800
15,925
1,646
(927)
(158)
(170)
(600)
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
22,496
21,264
1,072
159
(66)
(17)
(10)
(39)
of which: Large corporate clients
3,459
2,621
736
102
(32)
(3)
(4)
(26)
of which: SME clients
1,318
1,154
107
57
(11)
(1)
(1)
(9)
of which: Financial intermediaries and hedge funds
 
11,428
11,307
121
0
(16)
(12)
(5)
0
of which: Lombard
2,545
2,545
0
0
(1)
0
0
(1)
of which: Commodity trade finance
2,680
2,680
0
0
(1)
(1)
0
0
Irrevocable loan commitments
38,039
35,827
2,123
89
(112)
(68)
(44)
0
of which: Large corporate clients
23,698
21,723
1,916
58
(98)
(63)
(35)
0
Forward starting reverse repurchase
 
and securities borrowing agreements
6,432
6,432
0
0
0
0
0
0
Committed unconditionally revocable credit lines
41,396
38,616
2,715
65
(40)
(30)
(10)
0
of which: Real estate financing
9,621
9,343
278
0
(7)
(5)
(2)
0
of which: Large corporate clients
4,618
3,862
733
23
(5)
(2)
(3)
0
of which: SME clients
4,793
4,254
503
37
(15)
(12)
(3)
0
of which: Lombard
8,216
8,216
0
0
0
0
0
0
of which: Credit cards
9,398
8,941
453
4
(6)
(5)
(2)
0
of which: Commodity trade finance
280
280
0
0
0
0
0
0
Irrevocable committed prolongation of existing loans
5,355
5,342
12
2
(2)
(2)
0
0
Total off-balance sheet
 
financial instruments and other
 
credit lines
113,718
107,482
5,922
314
(221)
(117)
(64)
(39)
Total allowances and
 
provisions
(1,148)
(275)
(234)
(639)
1 The carrying amount
 
of financial assets measured
 
at amortized cost represents
 
the total gross exposure
 
net of the respective ECL
 
allowances.
USD m
31.12.21
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
192,817
192,817
0
0
0
0
0
0
Loans and advances to banks
15,480
15,453
26
1
(8)
(7)
(1)
0
Receivables from securities financing transactions
75,012
75,012
0
0
(2)
(2)
0
0
Cash collateral receivables on derivative
 
instruments
30,514
30,514
0
0
0
0
0
0
Loans and advances to customers
397,761
380,564
15,620
1,577
(850)
(126)
(152)
(572)
of which: Private clients with mortgages
152,479
143,505
8,262
711
(132)
(28)
(71)
(33)
of which: Real estate financing
43,945
40,463
3,472
9
(60)
(19)
(40)
0
of which: Large corporate clients
13,990
12,643
1,037
310
(170)
(22)
(16)
(133)
of which: SME clients
14,004
12,076
1,492
436
(259)
(19)
(15)
(225)
of which: Lombard
149,283
149,255
0
27
(33)
(6)
0
(28)
of which: Credit cards
1,716
1,345
342
29
(36)
(10)
(9)
(17)
of which: Commodity trade finance
3,813
3,799
7
7
(114)
(6)
0
(108)
Other financial assets measured at amortized cost
26,209
25,718
302
189
(109)
(27)
(7)
(76)
of which: Loans to financial advisors
2,453
2,184
106
163
(86)
(19)
(3)
(63)
Total financial assets
 
measured at amortized cost
737,794
720,079
15,948
1,767
(969)
(161)
(160)
(647)
Financial assets measured at
 
fair value through other comprehensive
 
income
8,844
8,844
0
0
0
0
0
0
Total on-balance
 
sheet financial assets in scope of ECL requirements
746,638
728,923
15,948
1,767
(969)
(161)
(160)
(647)
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
20,972
19,695
1,127
150
(41)
(18)
(8)
(15)
of which: Large corporate clients
3,464
2,567
793
104
(6)
(3)
(3)
0
of which: SME clients
1,353
1,143
164
46
(8)
(1)
(1)
(7)
of which: Financial intermediaries and hedge funds
 
9,575
9,491
84
0
(17)
(13)
(4)
0
of which: Lombard
2,454
2,454
0
0
(1)
0
0
(1)
of which: Commodity trade finance
3,137
3,137
0
0
(1)
(1)
0
0
Irrevocable loan commitments
39,478
37,097
2,335
46
(114)
(72)
(42)
0
of which: Large corporate clients
23,922
21,811
2,102
9
(100)
(66)
(34)
0
Forward starting reverse repurchase
 
and securities borrowing agreements
1,444
1,444
0
0
0
0
0
0
Committed unconditionally revocable credit lines
40,778
38,207
2,508
63
(38)
(28)
(10)
0
of which: Real estate financing
7,328
7,046
281
0
(5)
(4)
(1)
0
of which: Large corporate clients
5,358
4,599
736
23
(7)
(4)
(3)
0
of which: SME clients
5,160
4,736
389
35
(15)
(11)
(3)
0
of which: Lombard
8,670
8,670
0
0
0
0
0
0
of which: Credit cards
9,466
9,000
462
4
(6)
(5)
(2)
0
of which: Commodity trade finance
117
117
0
0
0
0
0
0
Irrevocable committed prolongation of existing loans
5,611
5,527
36
48
(3)
(3)
0
0
Total off-balance sheet
 
financial instruments and other
 
credit lines
108,284
101,971
6,006
307
(196)
(121)
(60)
(15)
Total allowances and
 
provisions
(1,165)
(282)
(220)
(662)
1 The carrying amount
 
of financial assets measured
 
at amortized cost represents
 
the total gross exposure
 
net of the respective ECL allowances.
The table below
 
provides information
 
about the
 
ECL gross exposure
 
and the ECL
 
coverage ratio
 
for UBS’s
 
core loan
portfolios (i.e.,
Loans and
 
advances to customers
and
 
Loans to
 
financial advisors
) and
 
relevant off-balance sheet
exposures.
Cash and
 
balances
 
at central
 
banks
,
Loans and
 
advances
 
to banks
,
Receivables
 
from securities
 
financing
transactions
,
Cash
 
collateral
 
receivables
 
on
 
derivative instruments
 
and
Financial
 
assets
 
measured
 
at
 
fair
 
value
through other comprehensive
 
income
 
are not included
 
in the table below,
 
due to their lower sensitivity
 
to ECL.
ECL coverage ratios are calculated by dividing ECL allowances and provisions
 
by the gross carrying amount of the
related exposures.
Coverage ratios for core loan
 
portfolio
30.6.22
Gross carrying amount (USD
 
m)
ECL coverage (bps)
On-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
151,010
142,077
8,136
798
8
2
88
7
342
Real estate financing
43,350
39,375
3,967
8
14
4
106
14
505
Total real estate lending
194,360
181,452
12,103
805
10
2
94
8
344
Large corporate clients
12,349
10,818
1,105
427
114
25
153
37
2,286
SME clients
13,558
11,766
1,190
602
184
19
187
34
3,400
Total corporate lending
25,907
22,584
2,294
1,029
151
22
170
35
2,938
Lombard
140,370
140,259
0
111
3
1
0
1
2,641
Credit cards
1,796
1,394
359
43
201
72
263
111
3,805
Commodity trade finance
3,793
3,692
0
101
248
15
0
15
8,768
Other loans and advances to customers
18,466
17,201
1,167
98
28
8
7
8
3,796
Loans to financial advisors
2,525
2,182
147
196
307
50
163
57
3,278
Total other lending
166,949
164,728
1,672
549
18
3
76
4
4,293
Total
1
387,216
368,763
16,069
2,383
22
4
103
8
2,373
Gross exposure (USD m)
ECL coverage (bps)
Off-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
6,860
6,658
199
3
4
3
9
3
786
Real estate financing
10,336
10,126
210
0
11
6
232
11
0
Total real estate lending
17,196
16,784
409
3
8
5
123
8
786
Large corporate clients
30,750
27,581
3,062
107
36
23
136
35
368
SME clients
7,301
6,603
589
109
45
23
178
36
649
Total corporate lending
38,051
34,184
3,651
216
37
23
143
35
510
Lombard
12,931
12,927
0
4
1
0
0
0
0
Credit cards
9,162
8,725
433
3
7
5
36
7
0
Commodity trade finance
2,615
2,615
0
0
4
4
0
4
0
Financial intermediaries and hedge funds
16,668
16,151
517
0
11
7
129
11
0
Other off-balance sheet commitments
8,548
7,845
701
2
11
8
5
8
0
Total other lending
49,924
48,264
1,651
9
7
5
52
7
0
Total
2
105,171
99,232
5,712
228
18
11
115
17
644
1 Includes Loans and
 
advances to customers
 
of USD
384,691
m and Loans to financial
 
advisors of USD
2,525
m, which are presented
 
on the balance sheet
 
line Other assets
 
measured at amortized
 
cost.
 
2 Excludes
Forward starting reverse
 
repurchase and securities
 
borrowing agreements.
Coverage ratios for core loan
 
portfolio
31.3.22
Gross carrying amount (USD m)
ECL coverage (bps)
On-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
153,771
145,299
7,773
699
8
2
91
6
403
Real estate financing
43,977
40,023
3,947
7
13
4
102
13
455
Total real estate lending
197,748
185,321
11,720
707
9
2
95
8
404
Large corporate clients
13,574
11,987
1,184
404
105
17
122
27
2,666
SME clients
14,170
12,017
1,528
626
183
18
130
31
3,489
Total corporate lending
27,745
24,004
2,712
1,029
145
18
127
29
3,166
Lombard
144,432
144,381
0
51
2
0
0
0
5,326
Credit cards
1,745
1,351
350
44
204
72
256
110
3,803
Commodity trade finance
4,544
4,432
7
105
226
14
2
14
9,157
Other loans and advances to customers
16,776
15,831
879
66
25
8
9
8
4,517
Loans to financial advisors
2,473
2,184
88
201
347
92
322
101
3,132
Total other lending
169,970
168,178
1,325
468
18
3
95
4
4,986
Total
1
395,463
377,503
15,757
2,204
22
4
100
8
2,667
Gross exposure (USD m)
ECL coverage (bps)
Off-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
7,972
7,733
236
3
3
3
7
3
241
Real estate financing
10,787
10,499
287
0
9
6
118
9
0
Total real estate lending
18,759
18,232
523
3
7
5
68
7
241
Large corporate clients
31,774
28,206
3,384
183
43
24
124
35
1,410
SME clients
7,512
6,693
700
119
48
23
159
36
791
Total corporate lending
39,286
34,899
4,084
303
44
24
130
35
1,166
Lombard
13,761
13,761
0
0
1
0
0
0
0
Credit cards
9,398
8,941
453
4
7
5
34
7
0
Commodity trade finance
2,960
2,960
0
0
4
4
0
4
0
Financial intermediaries and hedge funds
10,739
10,141
598
0
16
12
83
16
0
Other off-balance sheet commitments
12,384
12,115
265
4
9
5
40
6
0
Total other lending
49,241
47,918
1,315
8
8
5
58
7
0
Total
2
107,286
101,049
5,922
314
21
12
108
17
1,255
1 Includes Loans and
 
advances to customers
 
of USD
392,990
m and Loans to financial
 
advisors of USD
2,473
m, which are presented
 
on the balance sheet
 
line Other assets
 
measured at amortized
 
cost.
 
2 Excludes
Forward starting reverse
 
repurchase and securities
 
borrowing agreements.
Coverage ratios for core loan
 
portfolio
31.12.21
Gross carrying amount (USD m)
ECL coverage (bps)
On-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
152,610
143,533
8,333
744
9
2
85
6
446
Real estate financing
44,004
40,483
3,512
10
14
5
114
14
231
Total real estate lending
196,615
184,016
11,845
754
10
3
94
8
443
Large corporate clients
14,161
12,665
1,053
443
120
18
148
28
2,997
SME clients
14,263
12,095
1,507
661
182
16
103
25
3,402
Total corporate lending
28,424
24,760
2,560
1,104
151
17
121
26
3,240
Lombard
149,316
149,261
0
55
2
0
0
0
5,026
Credit cards
1,752
1,355
351
46
204
72
255
109
3,735
Commodity trade finance
3,927
3,805
7
115
290
15
3
15
9,388
Other loans and advances to customers
18,578
17,493
1,010
75
25
9
15
10
3,730
Loans to financial advisors
2,539
2,203
109
226
338
88
303
99
2,791
Total other lending
176,111
174,117
1,477
517
18
3
93
4
4,718
Total
1
401,150
382,893
15,882
2,374
23
4
98
8
2,673
Gross exposure (USD m)
ECL coverage (bps)
Off-balance sheet
Total
Stage 1
Stage 2
Stage 3
Total
Stage 1
Stage 2
Stage 1&2
Stage 3
Private clients with mortgages
9,123
8,798
276
49
3
3
9
3
15
Real estate financing
8,766
8,481
285
0
9
7
88
9
0
Total real estate lending
17,889
17,278
562
49
6
5
49
6
15
Large corporate clients
32,748
28,981
3,630
136
34
25
110
35
1
SME clients
8,077
7,276
688
114
38
19
151
30
585
Total corporate lending
40,826
36,258
4,318
250
35
24
117
34
266
Lombard
14,438
14,438
0
0
1
0
0
0
0
Credit cards
9,466
9,000
462
4
7
5
34
7
0
Commodity trade finance
3,262
3,262
0
0
4
4
0
4
0
Financial intermediaries and hedge funds
12,153
11,784
369
0
15
12
120
15
0
Other off-balance sheet commitments
8,806
8,507
296
4
15
6
30
7
0
Total other lending
48,126
46,991
1,127
8
9
5
61
7
0
Total
2
106,840
100,527
6,006
307
18
12
100
17
486
1 Includes Loans and
 
advances to customers
 
of USD
398,611
m and Loans to financial
 
advisors of USD
2,539
m, which are presented
 
on the balance sheet
 
line Other assets
 
measured at amortized
 
cost.
 
2 Excludes
Forward starting reverse
 
repurchase and securities
 
borrowing agreements.