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Offsetting financial assets and financial liabilities
 12 Months Ended
Dec. 31, 2022
Entity [Table]  
Disclosure Of Offsetting Of Financial Assets And Financial Liabilities Explanatory
Note 21
 
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
 
below 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 below
 
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 31.12.22, USD bn
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 measured at amortized cost
60.8
(11.1)
49.6
(3.0)
(46.4)
0.3
18.2
18.5
67.8
Derivative financial instruments
 
147.4
(2.5)
144.9
(110.9)
(28.5)
5.5
5.2
10.7
150.1
Cash collateral receivables on
 
derivative instruments
1
33.5
0.0
33.5
(20.9)
(1.9)
10.6
1.5
12.1
35.0
Financial assets at fair value
 
not held for trading
85.6
(76.8)
8.7
(1.5)
(7.3)
0.0
51.0
51.0
59.8
of which: reverse
 
repurchase agreements
84.4
(76.8)
7.6
(1.5)
(6.1)
0.0
0.1
0.1
7.7
Total assets
327.2
(90.4)
236.8
(136.3)
(84.1)
16.4
76.0
92.3
312.8
As of 31.12.21, USD bn
Receivables from securities financing
transactions measured at amortized cost
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
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 below.
 
Netting in this column
 
for reverse repurchase
 
agreements presented
 
within the lines “Receivables
from securities financing
 
transactions
 
measured at amortized
 
cost” 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
 
measured at amortized cost” and “Other financial
 
liabilities designated at fair value” lines in
 
the liabilities table presented below.
 
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 fin
 
ancial 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 31.12.22, USD bn
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 measured at amortized cost
14.1
(11.1)
3.0
(1.3)
(1.8)
0.0
1.2
1.2
4.2
Derivative financial instruments
 
150.3
(2.5)
147.8
(110.9)
(26.2)
10.7
7.1
17.8
154.9
Cash collateral payables on
 
derivative instruments
1
34.9
0.0
34.9
(20.0)
(1.9)
13.0
1.6
14.5
36.4
Other financial liabilities
 
designated at fair value
92.5
(76.9)
15.6
(3.2)
(12.4)
0.0
14.6
14.6
30.2
of which: repurchase agreements
92.1
(76.9)
15.3
(3.2)
(12.1)
0.0
0.1
0.1
15.3
Total liabilities
291.7
(90.4)
201.3
(135.3)
(42.3)
23.7
24.5
48.1
225.8
As of 31.12.21, USD bn
Payables from securities financing
transactions measured at amortized cost
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
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 derivativ
 
es 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 above. Netting in this column for
 
repurchase agreements presented within the lines “Payables from
 
securities financing transactions
measured at amortized
 
cost” 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
 
measured at amortized cost”
 
and “Financial assets
 
at fair value
 
not held for trading”
 
lines in the
 
assets table presented
 
above.
 
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 21
 
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
 
below 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 below
 
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 31.12.22, USD bn
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 measured at amortized cost
60.8
(11.1)
49.6
(3.0)
(46.4)
0.3
18.2
18.5
67.8
Derivative financial instruments
 
147.4
(2.5)
144.9
(110.9)
(28.5)
5.5
5.2
10.7
150.1
Cash collateral receivables on
 
derivative instruments
1
33.5
0.0
33.5
(20.9)
(1.9)
10.6
1.5
12.1
35.0
Financial assets at fair value
 
not held for trading
85.6
(76.8)
8.7
(1.5)
(7.3)
0.0
50.7
50.7
59.4
of which: reverse
 
repurchase agreements
84.4
(76.8)
7.6
(1.5)
(6.1)
0.0
0.1
0.1
7.7
Total assets
327.2
(90.4)
236.8
(136.3)
(84.1)
16.4
75.6
92.0
312.4
As of 31.12.21, USD bn
Receivables from securities financing
transactions measured at amortized cost
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
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 below.
 
Netting in this column
 
for reverse repurchase
 
agreements presented
 
within the lines “Receivables
from securities financing
 
transactions
 
measured at amortized
 
cost” 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
 
measured at amortized cost” and “Other financial
 
liabilities designated at fair value” lines in
 
the liabilities table presented below.
 
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 fin
 
ancial 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 31.12.22, USD bn
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 measured at amortized cost
14.1
(11.1)
3.0
(1.3)
(1.8)
0.0
1.2
1.2
4.2
Derivative financial instruments
 
150.3
(2.5)
147.8
(110.9)
(26.2)
10.7
7.1
17.8
154.9
Cash collateral payables on
 
derivative instruments
1
34.9
0.0
34.9
(20.0)
(1.9)
13.0
1.6
14.5
36.4
Other financial liabilities
 
designated at fair value
92.5
(76.9)
15.6
(3.2)
(12.4)
0.0
16.4
16.4
32.0
of which: repurchase agreements
92.1
(76.9)
15.3
(3.2)
(12.1)
0.0
0.1
0.1
15.3
Total liabilities
291.7
(90.4)
201.3
(135.3)
(42.3)
23.7
26.3
49.9
227.6
As of 31.12.21, USD bn
Payables from securities financing
transactions measured at amortized cost
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
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 derivativ
 
es 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 above. Netting in this column for
 
repurchase agreements presented within the lines “Payables from
 
securities financing transactions
measured at amortized
 
cost” 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
 
measured at amortized cost”
 
and “Financial assets
 
at fair value
 
not held for trading”
 
lines in the
 
assets table presented
 
above.
 
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.