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Transferred financial assets that are not derecognized in their entirety
 12 Months Ended
Dec. 31, 2022
Entity [Table]  
Disclosure Of Transfers Of Financial Assets Explanatory
b) Transferred financial assets that are
 
not derecognized in their
 
entirety
The
 
table
 
below
 
presents
 
information
 
for
 
financial
 
assets
 
that
 
have
 
been
 
transferred
 
but
 
are
 
subject
 
to
 
continued
recognition in full, as well as recognized
 
liabilities associated with those transferred
 
assets.
Transferred
 
financial assets subject to continued recognition
 
in full
 
USD m
31.12.22
31.12.21
Carrying amount
of transferred
assets
Carrying amount of
 
associated liabilities
 
recognized
 
on balance sheet
Carrying amount
of transferred
assets
Carrying amount of
 
associated liabilities
 
recognized
 
on balance sheet
Financial assets at fair value held for trading that
 
may be sold or repledged by counterparties
36,742
16,470
43,397
17,687
relating to securities lending and repurchase agreements in exchange
 
for cash received
16,756
16,470
17,970
17,687
relating to securities lending agreements in exchange for
 
securities received
18,908
24,146
relating to other financial asset transfers
1,078
1,281
Financial assets at fair value not held for trading
 
that may be sold or repledged
 
by
counterparties
1,220
1,050
961
898
Debt securities classified as Other financial assets measured
 
at amortized cost that may be
sold or repledged by counterparties
2,685
2,302
1,870
1,725
Total financial assets transferred
40,647
19,822
46,227
20,311
Transactions
 
in which
 
financial assets
 
are transferred,
 
but continue
 
to be
 
recognized
 
in their entirety
 
on UBS’s
 
balance
sheet include
 
securities lending
 
and
 
repurchase
 
agreements,
 
as well
 
as other
 
financial asset
 
transfers. Repurchase
 
and
securities lending arrangements
 
are, for the
 
most part,
 
conducted under standard market
 
agreements and are undertaken
with counterparties subject to UBS’s
 
normal credit risk control processes.
 
›
 
Refer to Note 1a
 
item 2e for more information
 
about repurchase and securities
 
lending agreements
As of 31 December 2022,
 
approximately
45
% of the transferred financial assets were
 
assets held for trading transferred
in
 
exchange
 
for
 
cash,
 
in
 
which
 
case
 
the
 
associated
 
recognized
liability
 
represents
 
the
 
amount
 
to
 
be
 
repaid
 
to
counterparties. For securities lending and repurchase agreements, a haircut of
 
between
0
% and
15
% is generally
 
applied
to the transferred
 
assets, which
 
results in
 
associated liabilities
 
having
 
a carrying
 
amount
 
below the
 
carrying amount
 
of
the transferred
 
assets. The
 
counterparties to
 
the associated
 
liabilities presented
 
in the
 
table above have
 
full recourse
 
to
UBS.
In securities lending
 
arrangements entered
 
into in
 
exchange for
 
the receipt
 
of other
 
securities as
 
collateral, neither
 
the
securities received nor
 
the obligation to return
 
them are recognized
 
on UBS’s balance sheet,
 
as the risks and rewards
 
of
ownership are
 
not transferred to
 
UBS. In
 
cases where
 
such financial assets
 
received are
 
subsequently sold
 
or repledged
in another transaction, this is not considered
 
to be a transfer of financial assets.
Other financial asset transfers primarily include securities transferred to collateralize derivative transactions, for which the
carrying amount of
 
associated liabilities is
 
not provided in
 
the table
 
above,
 
because those replacement
 
values are
 
managed
on
 
a portfolio
 
basis across
 
counterparties and
 
product types,
 
and therefore
 
there is
 
no direct
 
relationship
 
between
 
the
specific collateral pledged and
 
the associated liability.
Transferred financial assets that are not
 
subject to derecognition
 
in full but remain on the balance
 
sheet to the extent of
the Group’s continuing involvement were
 
not material as of 31 December
 
2022 and as of 31
 
December 2021.
UBS AG  
Entity [Table]  
Disclosure Of Transfers Of Financial Assets Explanatory
b) Transferred financial assets that are
 
not derecognized in their
 
entirety
The
 
table
 
below
 
presents
 
information
 
for
 
financial
 
assets
 
that
 
have
 
been
 
transferred
 
but
 
are
 
subject
 
to
 
continued
recognition in full, as well as recognized
 
liabilities associated with those transferred
 
assets.
Transferred
 
financial assets subject to continued recognition
 
in full
 
USD m
31.12.22
31.12.21
Carrying amount
of transferred
assets
Carrying amount of
 
associated liabilities
 
recognized
 
on balance sheet
Carrying amount
of transferred
assets
Carrying amount of
 
associated liabilities
 
recognized
 
on balance sheet
Financial assets at fair value held for trading that
 
may be sold or repledged by counterparties
36,742
16,470
43,397
17,687
relating to securities lending and repurchase agreements in exchange
 
for cash received
16,756
16,470
17,970
17,687
relating to securities lending agreements in exchange for
 
securities received
18,908
24,146
relating to other financial asset transfers
1,078
1,281
Financial assets at fair value not held for trading
 
that may be sold or repledged
 
by
counterparties
1,220
1,050
961
898
Debt securities classified as Other financial assets measured
 
at amortized cost that may be
sold or repledged by counterparties
2,685
2,302
1,870
1,725
Total financial assets transferred
40,647
19,822
46,227
20,311
Transactions
 
in which financial assets
 
are transferred, but continue to be
 
recognized in their entirety
 
on UBS AG’s balance
sheet include
 
securities lending
 
and
 
repurchase
 
agreements,
 
as well
 
as other
 
financial asset
 
transfers. Repurchase
 
and
securities lending arrangements
 
are, for the
 
most part,
 
conducted under standard market
 
agreements and are undertaken
with counterparties subject to UBS
 
AG’s normal credit risk control
 
processes.
 
›
 
Refer to Note 1a
 
item 2e for more information
 
about repurchase and securities
 
lending agreements
As of 31 December 2022,
 
approximately
45
% of the transferred financial assets were
 
assets held for trading transferred
in
 
exchange
 
for
 
cash,
 
in
 
which
 
case
 
the
 
associated
 
recognized
liability
 
represents
 
the
 
amount
 
to
 
be
 
repaid
 
to
counterparties. For securities lending and repurchase agreements, a haircut of
 
between
0
% and
15
% is generally
 
applied
to the transferred
 
assets, which
 
results in
 
associated liabilities
 
having
 
a carrying
 
amount
 
below the
 
carrying amount
 
of
the transferred
 
assets. The
 
counterparties to
 
the associated
 
liabilities presented
 
in the table
 
above have
 
full recourse
 
to
UBS AG.
In securities lending
 
arrangements entered
 
into in
 
exchange for
 
the receipt
 
of other
 
securities as
 
collateral, neither
 
the
securities received nor the obligation to return
 
them are recognized on UBS AG’s balance sheet, as the risks and rewards
of
 
ownership
 
are
 
not
 
transferred
 
to
 
UBS
 
AG.
 
In
 
cases
 
where
 
such
 
financial
 
assets
 
received
 
are
 
subsequently
 
sold
 
or
repledged in another transaction
 
,
 
this is not considered to be a transfer of financial
 
assets.
Other financial asset transfers primarily include securities transferred to collateralize derivative transactions, for which the
carrying amount of
 
associated liabilities is
 
not provided in
 
the table
 
above,
 
because those replacement
 
values are
 
managed
on
 
a portfolio
 
basis across
 
counterparties and
 
product types,
 
and therefore
 
there is
 
no direct
 
relationship
 
between
 
the
specific collateral pledged and
 
the associated liability.
Transferred financial assets that are not
 
subject to derecognition
 
in full but remain on the balance
 
sheet to the extent of
UBS AG’s continuing
 
involvement were not material as of 31 December 2022
 
and as of 31 December 2021.