Supplemental guarantor information required under SEC regulations	12 Months Ended
	Dec. 31, 2022
UBS AG
Entity [Table]
Condensed Financial Information Of Parent Company Only Disclosure [Text Block]	Note 34 Supplemental guarantor information required under SEC regulations Joint liability of UBS Switzerland AG In 2015, the Personal & Corporate Banking and Wealth Management businesses booked in Switzerland were transferred from UBS AG to UBS Switzerland AG through an asset transfer in accordance with the Swiss Merger Act. Under the terms of the asset transfer agreement, UBS Switzerland AG assumed joint liability for contractual obligations of UBS AG existing on the asset transfer date, including the full and unconditional guarantee of certain registered debt securities issued by UBS AG. To reflect this joint liability, UBS Switzerland AG is presented in a separate column as a subsidia ry co- guarantor. The joint liability of UBS Switzerland AG for contractual obligations of UBS AG decreased in 2022 by USD 1.4 bn to USD 4.3 bn as of 31 December 2022. The decrease substantially relates to a combination of contractual maturities, early extinguishments, fair value movements and foreign currency effects. Supplemental guarantor consolidated income statement USD m UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2022 Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 4,824 3,894 4,661 (1,575) 11,803 Interest expense from financial instruments measured at amortized cost (5,449) (736) (2,604) 2,093 (6,696) Net interest income from financial instruments measured at fair value through profit or loss and other 881 546 431 (449) 1,410 Net interest income 257 3,704 2,488 68 6,517 Other net income from financial instruments measured at fair value through profit or loss 5,541 900 940 112 7,493 Fee and commission income 2,875 4,865 13,766 (660) 20,846 Fee and commission expense (684) (464) (1,327) 652 (1,823) Net fee and commission income 2,191 4,401 12,439 (8) 19,023 Other income 6,732 203 3,329 (8,382) 1,882 Total revenues 14,721 9,208 19,197 (8,210) 34,915 Credit loss expense / (release) (17) 50 (3) (1) 29 Personnel expenses 3,251 1,995 9,835 0 15,080 General and administrative expenses 3,374 3,258 5,029 (2,660) 9,001 Depreciation, amortization and impairment of non -financial assets 871 340 744 (109) 1,845 Operating expenses 7,496 5,592 15,607 (2,769) 25,927 Operating profit / (loss) before tax 7,242 3,566 3,592 (5,440) 8,960 Tax expense / (benefit) (28) 638 1,083 151 1,844 Net profit / (loss) 7,270 2,928 2,509 (5,592) 7,116 Net profit / (loss) attributable to non-controlling interests 0 0 32 0 32 Net profit / (loss) attributable to shareholders 7,270 2,928 2,477 (5,592) 7,084 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information” at ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The ”Other subsidiaries“ column includes consolidated information for the UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG significant sub-groups, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of comprehensive income USD m UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2022 Comprehensive income attributable to shareholders Net profit / (loss) 7,270 2,928 2,477 (5,592) 7,084 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (114) (197) (506) 298 (519) Financial assets measured at fair value through other comprehensive income, net of tax 3 (3) 0 9 0 6 Cash flow hedges, net of tax (2,791) (1,359) (631) (12) (4,793) Cost of hedging, net of tax 45 45 Total other comprehensive income that may be reclassified to the income statement, net of tax (2,863) (1,555) (1,128) 286 (5,260) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 170 (112) 23 0 81 Own credit on financial liabilities designated at fair value, net of tax 796 796 Total other comprehensive income that will not be reclassified to the income statement, net of tax 966 (112) 23 0 877 Total other comprehensive income (1,897) (1,667) (1,104) 286 (4,383) Total comprehensive income attributable to shareholders 5,373 1,261 1,373 (5,306) 2,701 Total comprehensive income attributable to non-controlling interests 18 18 Total comprehensive income 5,373 1,261 1,391 (5,306) 2,719 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information” at ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The ”Other subsidiaries“ column includes consolidated information for the UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG significant sub-groups, as well as standalone information for other subsidiaries. 3 Effective 1 April 2022, a portfolio of assets previously classified as Financial assets measured at fair value through other comprehensive income was reclassified to Other financial assets measured at amortized cost. Refer to Note 1b for more information. Supplemental guarantor consolidated balance sheet USD m UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 December 2022 Assets Cash and balances at central banks 48,689 84,465 36,291 0 169,445 Loans and advances to banks 39,691 6,357 19,063 (50,441) 14,671 Receivables from securities financing transactions measured at amortized cost 51,493 903 34,110 (18,691) 67,814 Cash collateral receivables on derivative instruments 35,594 1,221 10,074 (11,856) 35,033 Loans and advances to customers 90,168 229,861 101,231 (31,233) 390,027 Other financial assets measured at amortized cost 24,005 9,532 21,880 (2,029) 53,389 Total financial assets measured at amortized cost 289,641 332,339 222,649 (114,250) 730,379 Financial assets at fair value held for trading 95,810 173 13,899 (1,848) 108,034 of which: assets pledged as collateral that may be sold or repledged by counterparties 41,056 0 5,578 (9,892) 36,742 Derivative financial instruments 149,447 5,925 35,106 (40,368) 150,109 Brokerage receivables 9,763 0 7,814 0 17,576 Financial assets at fair value not held for trading 45,302 4,354 26,843 (17,091) 59,408 Total financial assets measured at fair value through profit or loss 300,321 10,453 83,661 (59,308) 335,127 Financial assets measured at fair value through other comprehensive income 1,953 0 286 0 2,239 Investments in subsidiaries and associates 54,323 33 0 (53,255) 1,101 Property, equipment and software 5,852 1,654 4,077 (267) 11,316 Goodwill and intangible assets 213 0 6,050 5 6,267 Deferred tax assets 1,624 276 7,470 (16) 9,354 Other non-financial assets 6,930 1,768 951 4 9,652 Total assets 660,856 346,522 325,144 (227,087) 1,105,436 Liabilities Amounts due to banks 41,395 37,123 51,555 (118,477) 11,596 Payables from securities financing transactions measured at amortized cost 9,425 247 13,303 (18,774) 4,202 Cash collateral payables on derivative instruments 35,528 1,518 11,191 (11,800) 36,436 Customer deposits 98,628 273,316 132,619 22,608 527,171 Funding from UBS Group AG 56,147 0 0 56,147 Debt issued measured at amortized cost 50,706 8,965 1 (173) 59,499 Other financial liabilities measured at amortized cost 4,903 2,221 5,554 (2,287) 10,391 Total financial liabilities measured at amortized cost 296,733 323,391 214,222 (128,903) 705,442 Financial liabilities at fair value held for trading 25,059 183 5,843 (1,570) 29,515 Derivative financial instruments 153,778 6,177 35,314 (40,363) 154,906 Brokerage payables designated at fair value 32,346 0 12,746 (7) 45,085 Debt issued designated at fair value 71,444 0 508 (110) 71,842 Other financial liabilities designated at fair value 17,888 0 17,074 (2,928) 32,033 Total financial liabilities measured at fair value through profit or loss 300,514 6,360 71,484 (44,977) 333,382 Provisions 1,904 239 1,041 (2) 3,183 Other non-financial liabilities 1,630 1,019 3,742 98 6,489 Total liabilities 600,782 331,009 290,490 (173,785) 1,048,496 Equity attributable to shareholders 60,075 15,513 34,313 (53,303) 56,598 Equity attributable to non-controlling interests 342 0 342 Total equity 60,075 15,513 34,655 (53,303) 56,940 Total liabilities and equity 660,856 346,522 325,144 (227,087) 1,105,436 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements, available under “Complementary financial information” at ubs.com/investors, for information prepared in accordance with Swiss GAAP. 2 The ”Other subsidiaries“ column includes consolidated information for the UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG significant sub-groups, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated income statement USD m UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2021 Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,130 3,652 2,456 (703) 8,534 Interest expense from financial instruments measured at amortized cost (2,847) (520) (1,024) 1,025 (3,366) Net interest income from financial instruments measured at fair value through profit or loss and other 1,229 254 228 (274) 1,437 Net interest income 1,512 3,386 1,660 48 6,605 Other net income from financial instruments measured at fair value through profit or loss 3,751 807 1,369 (83) 5,844 Fee and commission income 3,837 5,204 16,151 (770) 24,422 Fee and commission expense (810) (481) (1,450) 755 (1,985) Net fee and commission income 3,027 4,723 14,702 (14) 22,438 Other income 7,555 221 1,560 (8,396) 941 Total revenues 15,845 9,137 19,291 (8,445) 35,828 Credit loss expense / (release) (65) (98) (10) 24 (148) Personnel expenses 3,401 2,098 10,161 1 15,661 General and administrative expenses 4,255 3,442 4,474 (2,696) 9,476 Depreciation, amortization and impairment of non -financial assets 949 285 755 (114) 1,875 Operating expenses 8,605 5,825 15,390 (2,809) 27,012 Operating profit / (loss) before tax 7,305 3,409 3,910 (5,660) 8,964 Tax expense / (benefit) 203 622 1,090 (11) 1,903 Net profit / (loss) 7,102 2,788 2,820 (5,649) 7,061 Net profit / (loss) attributable to non-controlling interests 0 0 29 0 29 Net profit / (loss) attributable to shareholders 7,102 2,788 2,792 (5,649) 7,032 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information” at ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The ”Other subsidiaries“ column includes consolidated information for the UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG significant sub-groups, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of comprehensive income USD m UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2021 Comprehensive income attributable to shareholders Net profit / (loss) 7,102 2,788 2,792 (5,649) 7,032 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax (1) (419) (607) 517 (510) Financial assets measured at fair value through other comprehensive income, net of tax 0 (157) 0 (157) Cash flow hedges, net of tax (1,129) (279) (250) (17) (1,675) Cost of hedging, net of tax (26) (26) Total other comprehensive income that may be reclassified to the income statement, net of tax (1,155) (699) (1,014) 500 (2,368) Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax 170 (135) 67 0 102 Own credit on financial liabilities designated at fair value, net of tax 46 46 Total other comprehensive income that will not be reclassified to the income statement, net of tax 217 (135) 67 0 148 Total other comprehensive income (939) (834) (947) 500 (2,220) Total comprehensive income attributable to shareholders 6,163 1,954 1,845 (5,149) 4,813 Total comprehensive income attributable to non-controlling interests 13 13 Total comprehensive income 6,163 1,954 1,858 (5,149) 4,826 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information” at ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The ”Other subsidiaries“ column includes consolidated information for the UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG significant sub-groups, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated balance sheet USD m UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) As of 31 December 2021 Assets Cash and balances at central banks 53,839 91,031 47,946 192,817 Loans and advances to banks 39,681 7,066 19,858 (51,245) 15,360 Receivables from securities financing transactions measured at amortized cost 50,566 5,438 40,585 (21,577) 75,012 Cash collateral receivables on derivative instruments 29,939 779 10,314 (10,518) 30,514 Loans and advances to customers 101,458 230,170 93,252 (26,188) 398,693 Other financial assets measured at amortized cost 8,902 6,828 12,377 (1,870) 26,236 Total financial assets measured at amortized cost 284,385 341,312 224,332 (111,397) 738,632 Financial assets at fair value held for trading 116,370 79 16,740 (2,156) 131,033 of which: assets pledged as collateral that may be sold or repledged by counterparties 47,891 0 6,073 (10,568) 43,397 Derivative financial instruments 113,426 4,199 35,567 (35,047) 118,145 Brokerage receivables 14,563 7,283 (7) 21,839 Financial assets at fair value not held for trading 37,532 5,413 33,940 (17,243) 59,642 Total financial assets measured at fair value through profit or loss 281,891 9,691 93,531 (54,454) 330,659 Financial assets measured at fair value through other comprehensive income 1,007 7,837 8,844 Investments in subsidiaries and associates 54,204 37 40 (53,038) 1,243 Property, equipment and software 6,501 1,456 4,048 (293) 11,712 Goodwill and intangible assets 213 6,138 28 6,378 Deferred tax assets 936 7,903 8,839 Other non-financial assets 5,757 2,424 1,656 (1) 9,836 Total assets 634,894 354,921 345,484 (219,154) 1,116,145 Liabilities Amounts due to banks 34,691 33,453 50,405 (105,448) 13,101 Payables from securities financing transactions measured at amortized cost 16,711 526 9,910 (21,615) 5,533 Cash collateral payables on derivative instruments 30,260 153 11,845 (10,458) 31,801 Customer deposits 101,093 286,488 142,967 14,287 544,834 Funding from UBS Group AG 57,295 57,295 Debt issued measured at amortized cost 73,045 9,460 (73) 82,432 Other financial liabilities measured at amortized cost 4,477 2,477 5,057 (2,245) 9,765 Total financial liabilities measured at amortized cost 317,572 332,556 220,184 (125,551) 744,762 Financial liabilities at fair value held for trading 25,711 372 7,652 (2,046) 31,688 Derivative financial instruments 116,588 4,053 35,731 (35,063) 121,309 Brokerage payables designated at fair value 30,497 13,548 (1) 44,045 Debt issued designated at fair value 70,660 785 14 71,460 Other financial liabilities designated at fair value 11,127 24,454 (3,167) 32,414 Total financial liabilities measured at fair value through profit or loss 254,584 4,425 82,171 (40,263) 300,916 Provisions 2,023 297 1,153 (21) 3,452 Other non-financial liabilities 1,799 1,278 5,528 (33) 8,572 Total liabilities 575,978 338,556 309,036 (165,868) 1,057,702 Equity attributable to shareholders 58,916 16,365 36,108 (53,287) 58,102 Equity attributable to non-controlling interests 340 340 Total equity 58,916 16,365 36,448 (53,287) 58,442 Total liabilities and equity 634,894 354,921 345,484 (219,154) 1,116,145 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements, available under “Complementary financial information” at ubs.com/investors, for information prepared in accordance with Swiss GAAP. 2 The ”Other subsidiaries“ column includes consolidated information for the UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG significant sub-groups, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of cash flows USD m UBS AG 1 UBS Switzerland AG 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2021 Net cash flow from / (used in) operating activities 5,714 2,131 22,718 30,563 Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets 0 (1) 0 (1) Disposal of subsidiaries, associates and intangible assets 2 16 0 577 593 Purchase of property, equipment and software (656) (276) (650) (1,581) Disposal of property, equipment and software 294 0 1 295 Purchase of financial assets measured at fair value through other comprehensive income (1,006) 0 (4,795) (5,802) Disposal and redemption of financial assets measured at fair value through other comprehensive income 189 0 4,863 5,052 Net (purchase) / redemption of debt securities measured at amortized cost (807) 772 (380) (415) Net cash flow from / (used in) investing activities (1,970) 495 (385) (1,860) Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) (3,073) (21) 0 (3,093) Distributions paid on UBS AG shares (4,539) 0 0 (4,539) Issuance of debt designated at fair value and long -term debt measured at amortized cost 3 97,250 1,177 193 98,619 Repayment of debt designated at fair value and long-term debt measured at amortized cost 3 (78,385) (1,093) (320) (79,799) Net cash flows from other financing activities (280) 0 20 (261) Net activity related to group internal capital transactions and dividends 5,240 (537) (4,702) 0 Net cash flow from / (used in) financing activities 16,212 (475) (4,811) 10,927 Total cash flow Cash and cash equivalents at the beginning of the year 39,400 93,342 40,689 173,430 Net cash flow from / (used in) operating, investing and financing activities 19,957 2,151 17,523 39,630 Effects of exchange rate differences on cash and cash equivalents (1,462) (2,693) (1,151) (5,306) Cash and cash equivalents at the end of the year 4 57,895 92,799 57,061 207,755 of which: cash and balances at central banks 53,729 91,031 47,946 192,706 of which: loans and advances to banks 3,258 1,588 8,975 13,822 of which: money market paper 5 908 179 139 1,227 1 Cash flows generally represent a third -party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends. 2 Includes cash proceeds from the sale of the minority stake in Clearstream Fund Centre AG and dividends received from associates. 3 Includes funding from UBS Group AG to UBS AG. 4 Balances with an original maturity of three months or less. USD 3,408 m of cash and cash equivalents were restricted. 5 Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost. Supplemental guarantor consolidated income statement USD m UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2020 Interest income from financial instruments measured at amortized cost and fair value through other comprehensive income 3,386 3,636 2,612 (818) 8,816 Interest expense from financial instruments measured at amortized cost (3,694) (513) (1,261) 1,134 (4,333) Net interest income from financial instruments measured at fair value through profit or loss and other 1,103 164 311 (273) 1,305 Net interest income 794 3,288 1,662 43 5,788 Other net income from financial instruments measured at fair value through profit or loss 4,857 911 1,044 118 6,930 Fee and commission income 3,731 4,585 13,651 (984) 20,982 Fee and commission expense (644) (829) (1,263) 961 (1,775) Net fee and commission income 3,087 3,756 12,388 (23) 19,207 Other income 4,671 233 2,585 (5,941) 1,549 Total revenues 13,410 8,188 17,679 (5,803) 33,474 Credit loss expense / (release) 352 286 56 0 695 Personnel expenses 3,458 2,017 9,211 0 14,686 General and administrative expenses 3,507 3,313 4,147 (2,481) 8,486 Depreciation, amortization and impairment of non -financial assets 1,013 261 750 (115) 1,909 Operating expenses 7,978 5,591 14,108 (2,596) 25,081 Operating profit / (loss) before tax 5,079 2,311 3,515 (3,207) 7,699 Tax expense / (benefit) 238 444 912 (107) 1,488 Net profit / (loss) 4,840 1,868 2,603 (3,100) 6,211 Net profit / (loss) attributable to non-controlling interests 0 0 15 0 15 Net profit / (loss) attributable to shareholders 4,840 1,868 2,588 (3,100) 6,196 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information” at ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The ”Other subsidiaries“ column includes consolidated information for the UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG significant sub-groups, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of comprehensive income USD m UBS AG (standalone) 1 UBS Switzerland AG (standalone) 1 Other subsidiaries 2 Elimination entries UBS AG (consolidated) For the year ended 31 December 2020 Comprehensive income attributable to shareholders Net profit / (loss) 4,840 1,868 2,588 (3,100) 6,196 Other comprehensive income Other comprehensive income that may be reclassified to the income statement Foreign currency translation, net of tax 81 1,228 690 (969) 1,030 Financial assets measured at fair value through other comprehensive income, net of tax 0 0 137 0 136 Cash flow hedges, net of tax 902 26 101 (18) 1,011 Cost of hedging, net of tax (13) (13) Total other comprehensive income that may be reclassified to the income statement, net of tax 971 1,254 928 (988) 2,165 Other comprehensive income that will not be reclassified to the income statement Defined benefit plans, net of tax (67) (107) 40 0 (134) Own credit on financial liabilities designated at fair value, net of tax (293) (293) Total other comprehensive income that will not be reclassified to the income statement, net of tax (360) (107) 40 0 (427) Total other comprehensive income 611 1,147 968 (988) 1,738 Total comprehensive income attributable to shareholders 5,451 3,015 3,556 (4,088) 7,934 Total comprehensive income attributable to non-controlling interests 36 36 Total comprehensive income 5,451 3,015 3,592 (4,088) 7,970 1 Amounts presented for UBS AG standalone and UBS Switzerland AG standalone represent IFRS standalone information. Refer to the UBS AG standalone and UBS Switzerland AG standalone financial statements under “Complementary financial information” at ubs.com/investors for information prepared in accordance with Swiss GAAP. 2 The ”Other subsidiaries“ column includes consolidated information for the UBS Americas Holding LLC, UBS Europe SE and UBS Asset Management AG significant sub-groups, as well as standalone information for other subsidiaries. Supplemental guarantor consolidated statement of cash flows USD m UBS AG 1 UBS Switzerland AG 1 Other subsidiaries 1 UBS AG (consolidated) For the year ended 31 December 2020 Net cash flow from / (used in) operating activities (14,883) 24,661 26,804 36,581 Cash flow from / (used in) investing activities Purchase of subsidiaries, associates and intangible assets 0 (3) (43) (46) Disposal of subsidiaries, associates and intangible assets 2 14 0 660 674 Purchase of property, equipment and software (714) (162) (697) (1,573) Disposal of property, equipment and software 361 0 3 364 Purchase of financial assets measured at fair value through other comprehensive income (77) 0 (6,213) (6,290) Disposal and redemption of financial assets measured at fair value through other comprehensive income 79 0 4,451 4,530 Net (purchase) / redemption of debt securities measured at amortized cost (3,021) 132 (1,277) (4,166) Net cash flow from / (used in) investing activities (3,357) (33) (3,117) (6,506) Cash flow from / (used in) financing activities Net short-term debt issued / (repaid) 23,828 17 0 23,845 Distributions paid on UBS AG shares (3,848) 0 0 (3,848) Issuance of debt designated at fair value and long -term debt measured at amortized cost 3 78,867 1,057 229 80,153 Repayment of debt designated at fair value and long-term debt measured at amortized cost 3 (86,204) (776) (118) (87,099) Net cash flows from other financing activities (290) 0 (263) (553) Net activity related to group internal capital transactions and dividends 2,984 (1,307) (1,677) 0 Net cash flow from / (used in) financing activities 15,336 (1,009) (1,829) 12,498 Total cash flow Cash and cash equivalents at the beginning of the year 39,598 62,551 17,655 119,804 Net cash flow from / (used in) operating, investing and financing activities (2,905) 23,619 21,859 42,573 Effects of exchange rate differences on cash and cash equivalents 2,706 7,171 1,175 11,053 Cash and cash equivalents at the end of the year 4 39,400 93,342 40,689 173,430 of which: cash and balances at central banks 34,283 91,638 32,167 158,088 of which: loans and advances to banks 4,085 1,695 8,148 13,928 of which: money market paper 5 1,032 9 374 1,415 1 Cash flows generally represent a third -party view from a UBS AG consolidated perspective, except for Net activity related to group internal capital transactions and dividends. 2 Includes cash proceeds from the sale of the majority stake in Fondcenter AG and dividends received from associates. 3 Includes funding from UBS Group AG to UBS AG. 4 Balances with an original maturity of three months or less. USD 3,828 m of cash and cash equivalents were restricted. 5 Money market paper is included in the balance sheet under Financial assets at fair value held for trading, Financial assets measured at fair value through other comprehensive income, Financial assets at fair value not held for trading and Other financial assets measured at amortized cost.