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Debt issued held at amortized cost
 12 Months Ended
Dec. 31, 2022
Entity [Table]  
Disclosure Of Debt Securities Explanatory
Note 16
 
Debt issued measured at amortized
 
cost
USD m
31.12.22
31.12.21
Short-term debt
1
29,676
43,098
Senior unsecured debt that
 
contributes to total loss-absorbing capacity (TLAC)
42,073
38,984
Senior unsecured debt other than
 
TLAC
17,892
27,590
of which: issued by UBS AG with original maturity greater
 
than one year
17,892
23,307
Covered bonds
0
1,389
Subordinated debt
16,017
18,640
of which: eligible as high-trigger loss-absorbing additional
 
tier 1 capital instruments
9,882
11,052
of which: eligible as low-trigger loss-absorbing additional
 
tier 1 capital instruments
1,189
2,425
of which: eligible as low-trigger loss-absorbing tier 2 capital
 
instruments
2,422
2,596
of which: eligible as non-Basel III-compliant tier 2 capital
 
instruments
536
547
Debt issued through the Swiss central mortgage
 
institutions
8,962
9,454
Long-term debt
2
84,945
96,057
Total debt issued
 
measured at amortized cost
3
114,621
139,155
1 Debt with an
 
original contractual maturity
 
of less than one
 
year, includes
 
mainly certificates of
 
deposit and commercial
 
paper.
 
2 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.
 
3 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 2
 
j
in Note 1a
 
and Note 25. As a result of applying hedge accounting, the life-to-date adjustment to the carrying amount of
debt issued
 
was a
 
decrease of
 
USD
6.1
bn as
 
of 31
 
December 2022
 
and an
 
increase
 
of USD
0.5
bn 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
UBS AG  
Entity [Table]  
Disclosure Of Debt Securities Explanatory
Note 16
 
Debt issued measured at amortized
 
cost
USD m
31.12.22
31.12.21
Short-term debt
1
29,676
43,098
Senior unsecured debt
17,892
23,328
of which: issued by UBS AG with original maturity greater
 
than one year
17,892
23,307
Covered bonds
0
1,389
Subordinated debt
2,968
5,163
of which: eligible as low-trigger loss-absorbing tier 2 capital
 
instruments
2,422
2,596
of which: eligible as non-Basel III-compliant tier 2 capital
 
instruments
536
547
Debt issued through the Swiss central mortgage
 
institutions
8,962
9,454
Long-term debt
2
29,823
39,334
Total debt issued
 
measured at amortized cost
3
59,499
82,432
1 Debt with an
 
original contractual maturity
 
of less than one year,
 
includes mainly certificates
 
of deposit and commercial
 
paper.
 
2 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.
 
3 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
 
25.
 
As a
 
result of applying
 
hedge accounting,
 
the life-to-date adjustment
 
to the carrying
 
amount of
 
debt
issued was
 
a decrease of
 
USD
1.0
bn as of
 
31 December 2022
 
and an increase
 
of USD
0.3
bn 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 inte
 
rest.
›
 
Refer to Note 23
 
for maturity information