Customer deposits

12 Months Ended

Dec. 31, 2022

Entity [Table]

Disclosure of due to banks and customers [text block]

Note 14 Customer deposits

USD m

31.12.22

31.12.21

Demand deposits

180,822

246,417

Retail savings / deposits

149,310

133,354

Sweep deposits

69,223

113,870

Time deposits

1

125,696

48,365

Total customer deposits

525,051

542,007

1 Includes customer deposits in UBS AG Jersey Branch placed by UBS Switzerland AG on behalf of its clients.

Increases in interest rates during the year resulted in significant shifts from demand deposits to time deposits.

UBS AG

Entity [Table]

Disclosure of due to banks and customers [text block]

Note 14 Customer deposits, and funding from UBS Group AG

a) Customer deposits

USD m

31.12.22

31.12.21

Demand deposits

182,307

247,299

Retail savings / deposits

149,310

133,354

Sweep deposits

69,223

113,870

Time deposits

1

126,331

50,312

Total customer deposits

527,171

544,834

1 Includes customer deposits in UBS AG Jersey Branch placed by UBS Switzerland AG on behalf of its clients.

Increases in interest rates during the year resulted in significant shifts from demand deposits to time deposits.

b) Funding from UBS Group AG measured at amortized cost

USD m

31.12.22

31.12.21

Senior unsecured debt that contributes to total loss-absorbing capacity (TLAC)

42,073

38,984

Senior unsecured debt other than TLAC

236

4,471

Subordinated debt

13,838

13,840

of which: eligible as high-trigger loss-absorbing additional tier 1 capital instruments

10,654

11,414

of which: eligible as low-trigger loss-absorbing additional tier 1 capital instruments

1,187

2,426

Total funding from UBS Group AG measured at amortized cost

1

56,147

57,295

1 UBS AG has also recognized funding from UBS Group AG that is designated at fair value. Refer to Note 18b for more information.

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 25. As a result of applying hedge accounting, the life-to-date adjustment to the carrying amount of

Funding

from UBS Group AG measured at amortized cost

 was a decrease of USD 5.1bn as of 31 December 2022 and an increase

of USD 0.2bn as of 31 December 2021, 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 2022 pay a fixed rate of interest.

›

Refer to Note 23 for maturity information