Changes in accounting policies, comparability and adjustments	12 Months Ended
	Dec. 31, 2022
Entity [Table]
Changes in accounting policies, comparability and adjustments	Accounting for obligations to safeguard crypto-assets an entity h olds for platform users (SAB 121) In March 2022, the US Security and Exchange Commission (the SEC) issued Staff Accounting Bulletin (SAB) 121, “Accounting for obligations to safeguard crypto-assets an entity holds for platform users.” SAB 121 adds interpretive guidance requiring SEC registrants, including foreign private issuers that apply IFRS, to recognize a liability on their balance sheets to reflect the obligation to safeguard any digital asset that is issued or transferred using distributed ledger or blockchain technology and held for their platform users, along with a corresponding asset. The guidance is effective for UBS for annual reporting from 2022 onwards. Amounts that would be recognized as liabilities, with corresponding assets, under this guidance are not material to UBS.
Other changes to accounting policies	b) Changes in accounting policies, comparability and other adjustments Changes to the presentation of the financial statements During 2022, UBS made several changes to simplify the presentation of the income statement alongside other primary financial statements and disclosure notes, and to align them with management information. In particular, Total operating income has been renamed Total revenues and excludes Credit loss expense / (release) , which is now separately presented below Total revenues . Reclassification of a portfolio from Financial assets measured at fair value through other comprehensive income to Other financial assets measured at amortized cost Effective from 1 April 2022, UBS has reclassified a portfolio of financial assets from Financial assets measured at fair value through other comprehensive income with a fair value of USD 6.9 bn (the Portfolio) to Other financial assets measured at amortized cost , in line with the principles in IFRS 9, Financial Instruments , which require a reclassification when an entity changes its business model for managing financial assets. The Portfolio’s cumulative fair value losses of USD 449 m pre-tax and USD 333 m post-tax, previously recognized in Other comprehensive income , have been removed from equity and adjusted against the value of the assets on the reclassification date, so that the Portfolio is measured as if the assets had always been classified at amortized cost, with a value of USD 7.4 bn as on 1 April 2022. The reclassification had no effect on the income statement. The reclassified Portfolio is made up of high-quality liquid assets, primarily US government treasuries and US government agency mortgage-backed securities, held and separately managed by UBS Bank USA (BUSA). The accounting reclassification has arisen as a direct result of the transformation of UBS’s Global Wealth Management Americas business, which has significantly impacted BUSA. This includes initiatives approved by the Group Executive Board to significantly grow and extend the business, as disclosed on 1 February 2022 during UBS’s fourth quarter 2021 earnings presentation. Over the two years preceding the reclassification date, BUSA’s deposit base grew by more than 100% generating substantial cash balances, with a number of new products being launched, including new deposit types that are longer in duration, additional lending and a broader range of customer segments targeted. Following the commencement of these activities and the announcement made in the first quarter of 2022, the Portfolio is no longer held in a business model to collect the contractual cash flows and sell the assets, but is instead solely held to collect the contractual cash flows until the assets mature, requiring a reclassification of the Portfolio in line with IFRS 9 with effect from 1 April 2022. The fair value of the Portfolio as on 31 December 2022 was USD 5.8 bn. A pre-tax fair value loss of USD 981 m would have been recognized in Other comprehensive income during 2022 if the Portfolio had not been reclassified.
IFRSs and interpretations to be adopted and other adjustments	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 2023. Adoption on 1 January 2023 will have no effect on the Group’s financial statements . UBS does not provide insurance services in any market. Other amendments to IFRS The IASB has issued a number of minor amendments to IFRS, effective from 1 January 2023 and in later years. These amendments are not expected to have a significant effect on the Group when they are adopted.
UBS AG
Entity [Table]
Changes in accounting policies, comparability and adjustments	Accounting for obligations to safeguard crypto-assets an entity holds for platform users (SAB 121) In March 2022, the US Security and Exchange Commission (the SEC) issued Staff Accounting Bulletin (SAB) 121, “Accounting for obligations to safeguard crypto-assets an entity holds for platform users.” SAB 121 adds interpretive guidance requiring SEC registrants, including foreign private issuers that apply IFRS, to recognize a liability on their balance sheets to reflect the obligation to safeguard any digital asset that is issued or transferred using distributed ledger or blockchain technology and held for their platform users, along with a corresponding asset. The guidance is effective for UBS AG for annual reporting from 2022 onwards. Amounts that would be recognized as liabilities, with corresponding assets, under this guidance are not material to UBS AG.
Other changes to accounting policies	b) Changes in accounting policies, comparability and other adjustments Changes to the presentation of the financial statements During 2022, UBS AG made several changes to simplify the presentation of the income statement alongside other primary financial statements and disclosure notes, and to align them with management information. In particular, Total operating income has been renamed Total revenues and excludes Credit loss expense / (release) , which is now separately presented below Total revenues . Reclassification of a portfolio from Financial assets measured at fair value through other comprehensive income to Other financial assets measured at amortized cost Effective from 1 April 2022, UBS AG has reclassified a portfolio of financial assets from Financial assets measured at fair value through other comprehensive income with a fair value of USD 6.9 bn (the Portfolio) to Other financial assets measured at amortized cost , in line with the principles in IFRS 9, Financial Instruments , which require a reclassification when an entity changes its business model for managing financial assets. The Portfolio’s cumulative fair value losses of USD 449 m pre-tax and USD 333 m post-tax, previously recognized in Other comprehensive income , have been removed from equity and adjusted against the value of the assets on the reclassification date, so that the Portfolio is measured as if the assets had always been classified at amortized cost, with a value of USD 7.4 bn as on 1 April 2022. The reclassification had no effect on the income statement. The reclassified Portfolio is made up of high-quality liquid assets, primarily US government treasuries and US government agency mortgage-backed securities, held and separately managed by UBS Bank USA (BUSA). The accounting reclassification has arisen as a direct result of the transformation of UBS AG’s Global Wealth Management Americas business, which has significantly impacted BUSA. This includes initiatives approved by the Group Executive Board to significantly grow and extend the business, as disclosed on 1 February 2022 during UBS’s fourth quarter 2021 earnings presentation. Over the two years preceding the reclassification date, BUSA’s deposit base grew by more than 100% generating substantial cash balances, with a number of new products being launched, including new deposit types that are longer in duration, additional lending and a broader range of customer segments targeted. Following the commencement of these activities and the announcement made in the first quarter of 2022, the Portfolio is no longer held in a business model to collect the contractual cash flows and sell the assets, but is instead solely held to collect the contractual cash flows until the assets mature, requiring a reclassification of the Portfolio in line with IFRS 9 with effect from 1 April 2022. The fair value of the Portfolio as on 31 December 2022 was USD 5.8 bn. A pre-tax fair value loss of USD 981 m would have been recognized in Other comprehensive income during 2022 if the Portfolio had not been reclassified.
IFRSs and interpretations to be adopted and other adjustments	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 2023. Adoption on 1 January 2023 will have no effect on UBS AG’s financial statements. UBS AG does not provide insurance services in any market. Other amendments to IFRS The IASB has issued a number of minor amendments to IFRS, effective from 1 January 2023 and in later years. These amendments are not expected to have a significant effect on UBS AG when they are adopted.