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Fair value measurement (Tables)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Entity [Table]    
Disclosure Of Fair Value Measurement Of Assets Explanatory
Determination of fair values
 
from quoted market prices or valuation techniques
1
31.12.22
31.12.21
USD m
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Financial assets measured at
 
fair value on a recurring basis
Financial assets at fair value held for trading
96,241
10,138
1,488
107,866
113,697
14,825
2,299
130,821
of which: Equity instruments
83,074
789
126
83,988
97,958
1,090
149
99,197
of which: Government bills / bonds
5,496
950
18
6,464
7,135
1,351
10
8,496
of which: Investment fund units
6,673
596
61
7,330
7,843
1,364
21
9,229
of which: Corporate and municipal bonds
976
6,363
541
7,880
708
7,604
556
8,868
of which: Loans
0
1,179
628
1,807
0
3,099
1,443
4,542
of which: Asset-backed securities
22
261
114
397
53
317
120
489
Derivative financial instruments
769
147,875
1,464
150,108
522
116,479
1,140
118,142
of which: Foreign exchange
575
84,881
2
85,458
255
53,043
7
53,305
of which: Interest rate
0
39,345
460
39,805
0
32,747
494
33,241
of which: Equity / index
1
21,542
653
22,195
0
27,861
384
28,245
of which: Credit
0
719
318
1,038
0
1,179
236
1,414
of which: Commodities
0
1,334
30
1,365
0
1,590
16
1,606
Brokerage receivables
0
17,576
0
17,576
0
21,839
0
21,839
Financial assets at fair value not held for trading
26,572
29,498
3,725
59,796
27,278
28,622
4,180
60,080
of which: Financial assets for unit-linked investment
 
contracts
13,071
1
0
13,072
21,110
187
6
21,303
of which: Corporate and municipal bonds
35
14,101
230
14,366
123
13,937
306
14,366
of which: Government bills / bonds
13,103
3,638
0
16,741
5,624
3,236
0
8,860
of which: Loans
0
3,602
736
4,337
0
4,982
892
5,874
of which: Securities financing transactions
0
7,590
114
7,704
0
5,704
100
5,804
of which: Auction rate securities
0
0
1,326
1,326
0
0
1,585
1,585
of which: Investment fund units
307
566
190
1,063
338
574
117
1,028
of which: Equity instruments
57
0
792
849
83
2
681
765
Financial assets measured at
 
fair value through other comprehensive
 
income on a recurring basis
Financial assets measured at fair value through
 
other comprehensive income
57
2,182
0
2,239
2,704
6,140
0
8,844
of which: Asset-backed securities
2
0
0
0
0
0
4,849
0
4,849
of which: Government bills / bonds
2
0
26
0
26
2,658
27
0
2,686
of which: Corporate and municipal bonds
57
2,156
0
2,213
45
1,265
0
1,310
Non-financial assets measured at
 
fair value on a recurring basis
Precious metals and other physical commodities
4,471
0
0
4,471
5,258
0
0
5,258
Non-financial assets measured at
 
fair value on a non-recurring
 
basis
Other non-financial assets
3
0
0
110
110
0
0
26
26
Total assets measured
 
at fair value
128,110
207,269
6,788
342,166
149,459
187,905
7,645
345,010
  
Disclosure Of Fair Value Measurement Of Liabilities Explanatory
Determination of fair values
 
from quoted market prices or valuation techniques
 
(continued)
1
31.12.22
31.12.21
USD m
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Financial liabilities measured at fair value
 
on a recurring basis
Financial liabilities at fair value held for trading
23,578
5,823
114
29,515
25,413
6,170
105
31,688
of which: Equity instruments
16,521
352
78
16,951
18,328
513
83
18,924
of which: Corporate and municipal bonds
36
4,643
27
4,707
30
4,219
17
4,266
of which: Government bills / bonds
5,880
706
1
6,587
5,883
826
0
6,709
of which: Investment fund units
1,141
84
3
1,229
1,172
555
6
1,733
Derivative financial instruments
640
152,582
1,684
154,906
509
118,558
2,242
121,309
of which: Foreign exchange
 
587
87,897
24
88,508
258
53,800
21
54,078
of which: Interest rate
 
0
37,429
116
37,545
0
28,398
278
28,675
of which: Equity / index
 
0
24,963
1,184
26,148
0
33,438
1,511
34,949
of which: Credit
0
920
279
1,199
0
1,412
341
1,753
of which: Commodities
0
1,309
52
1,361
0
1,503
63
1,566
Financial liabilities designated at
 
fair value on a recurring basis
Brokerage payables designated at
 
fair value
0
45,085
0
45,085
0
44,045
0
44,045
Debt issued designated at fair value
0
63,111
10,527
73,638
0
59,606
14,194
73,799
Other financial liabilities designated at fair value
0
29,547
691
30,237
0
29,258
816
30,074
of which: Financial liabilities related to unit-linked
 
investment contracts
0
13,221
0
13,221
0
21,466
0
21,466
of which: Securities financing transactions
0
15,333
0
15,333
0
6,375
2
6,377
of which: Over-the-counter
 
debt instruments and other
0
993
691
1,684
0
1,417
814
2,231
Total liabilities measured
 
at fair value
24,219
296,148
13,015
333,381
25,922
257,637
17,357
300,916
1 Bifurcated embedded derivatives are presented
 
on the same balance sheet lines as their host contracts and
 
are not included in this table. The fair
 
value of these derivatives was not material for the
 
periods presented.
 
2 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 1 for more information.
 
3 Other non-financial assets primarily
 
consist of properties and other non-current assets
 
held for sale, which are measured
 
at the lower of their net carrying amount or fair value
less costs to sell.
  
Disclosure Of Deferred Day-One Profit Or Loss Explanatory
Deferred day-1 profit
 
or loss reserves
USD m
2022
2021
2020
Reserve balance at the beginning of the
 
year
418
269
146
Profit / (loss) deferred on new transactions
299
459
362
(Profit) / loss recognized in the income statement
(295)
(308)
(238)
Foreign currency translation
0
(2)
0
Reserve balance at the end of the year
422
418
269
  
Disclosure Of Change In Fair Value Of Financial Liability Attributable To Change In Credit Risk Of Liability Explanatory
Own credit adjustments on financial
 
liabilities designated at fair value
Included in Other comprehensive income
For the year ended
USD m
31.12.22
31.12.21
31.12.20
Recognized during the period:
Realized gain / (loss)
 
1
(14)
2
Unrealized gain / (loss)
 
866
60
(295)
Total gain / (loss), before
 
tax
867
46
(293)
USD m
31.12.22
31.12.21
31.12.20
Recognized on the balance sheet
 
as of the end of the period:
Unrealized life-to-date gain / (loss)
 
556
(315)
(381)
of which: debt issued designated at fair value
453
(347)
(418)
of which: other financial liabilities designated at
 
fair value
103
32
36
  
Disclosure Of Valuation Adjustments On Financial Instruments Explanatory
Balance sheet valuation adjustments
 
on financial instruments
As of
USD m
31.12.22
31.12.21
Credit valuation adjustments
1
(33)
(44)
Funding valuation adjustments
(50)
(49)
Debit valuation adjustments
4
2
Other valuation adjustments
(839)
(913)
of which: liquidity
(311)
(341)
of which: model uncertainty
(529)
(571)
1 Amounts do not include reserves
 
against defaulted counterparties.
  
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets And Liabilities Explanatory
Valuation techniques
 
and inputs used in the fair value measurement
 
of Level 3 assets and liabilities
Fair value
Significant
unobservable
input(s)
1
Range of inputs
Assets
Liabilities
Valuation
technique(s)
31.12.22
31.12.21
USD bn
31.12.22
31.12.21
31.12.22
31.12.21
low
high
weighted
average
2
low
high
weighted
average
2
unit
1
Financial assets and liabilities at fair value
 
held for trading and Financial
 
assets at fair value not held for trading
Corporate and municipal
bonds
0.8
0.9
0.0
0.0
Relative value to
market comparable
Bond price equivalent
14
112
85
16
143
98
points
Discounted expected
cash flows
Discount margin
412
412
434
434
basis
points
Traded loans, loans
measured at fair value,
loan commitments and
guarantees
1.7
2.8
0.0
0.0
Relative value to
market comparable
Loan price equivalent
30
100
97
0
101
99
points
Discounted expected
cash flows
Credit spread
200
200
200
175
800
436
basis
points
Market comparable
and securitization
model
Credit spread
145
1,350
322
28
1,544
241
basis
points
Auction rate securities
1.3
1.6
Discounted expected
cash flows
Credit spread
115
196
144
115
197
153
basis
points
Investment fund units
3
0.3
0.1
0.0
0.0
Relative value to
market comparable
Net asset value
Equity instruments
3
0.9
0.8
0.1
0.1
Relative value to
market comparable
Price
Debt issued designated at
fair value
4
10.5
14.2
Other financial liabilities
designated at fair value
0.7
0.8
Discounted expected
cash flows
Funding spread
23
175
24
175
basis
points
Derivative financial instruments
Interest rate
0.5
0.5
0.1
0.3
Option model
Volatility of interest
rates
75
143
65
81
basis
points
Credit
0.3
0.2
0.3
0.3
Discounted expected
cash flows
Credit spreads
 
9
565
1
583
basis
points
Bond price equivalent
3
277
2
136
points
Equity / index
0.7
0.4
1.2
1.5
Option model
Equity dividend yields
0
20
0
11
%
Volatility of equity
stocks, equity and
other indices
4
120
4
98
%
Equity-to-FX
correlation
(29)
84
(29)
76
%
Equity-to-equity
correlation
(25)
100
(25)
100
%
1 The ranges
 
of significant unobservable
 
inputs are represented
 
in points, percentages
 
and basis points.
 
Points are a
 
percentage of par (e.g.,
 
100 points would
 
be 100% of par).
 
2 Weighted
 
averages are
 
provided
for most non-derivative
 
financial instruments
 
and were calculated
 
by weighting inputs
 
based on the fair
 
values of the
 
respective instruments.
 
Weighted
 
averages are not
 
provided for inputs
 
related to Other
 
financial
liabilities designated
 
at fair
 
value and
 
Derivative financial
 
instruments,
 
as this would
 
not be meaningful.
 
3 The
 
range of
 
inputs is
 
not disclosed,
 
as there
 
is a
 
dispersion of
 
values
 
given the
 
diverse nature
 
of the
investments.
 
4 Debt issued designated at fair value
 
primarily consists of UBS
 
structured notes, which include
 
variable maturity notes with
 
various equity and foreign
 
exchange underlying risks,
 
rates-linked
 
and credit-
linked notes, all of which
 
have embedded derivative
 
parameters that are considered
 
to be unobservable. The
 
equivalent derivative instrument
 
parameters are presented in the respective
 
derivative financial instruments
lines in this table.
  
Disclosure Of Sensitivity Analysis Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities Explanatory
Sensitivity of fair value measurements
 
to changes in unobservable input
 
assumptions
1
31.12.22
31.12.21
USD m
Favorable
 
changes
Unfavorable
 
changes
Favorable
 
changes
Unfavorable
 
changes
Traded loans, loans
 
measured at fair value, loan
 
commitments and guarantees
19
(12)
19
(13)
Securities financing transactions
33
(37)
41
(53)
Auction rate securities
46
2
(46)
2
66
(66)
Asset-backed securities
27
(27)
20
(20)
Equity instruments
183
(161)
173
(146)
Interest rate derivatives, net
18
2
(12)
2
29
(19)
Credit derivatives, net
3
(4)
5
(8)
Foreign exchange derivatives,
 
net
10
(5)
19
(11)
Equity / index derivatives, net
361
(330)
368
(335)
Other
39
2
(62)
2
50
(73)
Total
738
(696)
790
(744)
1 Sensitivity
 
of issued and over-the
 
-counter debt instruments
 
is reported with
 
the equivalent
 
derivative or securities
 
financing instrument.
 
2 Includes refinements
 
applied in estimating
 
valuation uncertainty
 
across
various parameters.
  
Disclosure Of Level 3 Of Fair Value Of Financial Instruments Explanatory
Movements of Level 3
 
instruments
USD bn
Balance at
the beginning
of the period
Net gains /
losses
included in
compre-
hensive
income
1
of which:
related to
instruments
held at the
end of the
period
Purchases
Sales
Issuances
Settlements
Transfers
 
into
 
Level 3
Transfers
 
out of
 
Level 3
Foreign
 
currency
 
translation
Balance at
the end
of the period
For the twelve months ended
 
31 December 2022
2
Financial assets at fair value held
 
for
trading
2.3
(0.3)
(0.3)
0.3
(1.8)
0.5
0.0
0.7
(0.3)
(0.0)
1.5
of which: Investment fund units
0.0
(0.0)
(0.0)
0.0
(0.0)
0.0
0.0
0.1
(0.0)
(0.0)
0.1
of which: Corporate and municipal
bonds
0.6
(0.0)
(0.0)
0.3
(0.6)
0.0
0.0
0.4
(0.0)
(0.0)
0.5
of which: Loans
1.4
(0.1)
(0.1)
0.0
(1.1)
0.5
0.0
0.0
(0.2)
0.0
0.6
Derivative financial instruments –
assets
1.1
0.6
0.3
0.0
0.0
0.4
(0.7)
0.1
(0.0)
(0.0)
1.5
of which: Interest rate
0.5
0.3
0.3
0.0
0.0
0.0
(0.2)
0.0
(0.1)
(0.0)
0.5
of which: Equity / index
0.4
0.2
0.1
0.0
0.0
0.4
(0.3)
0.1
(0.0)
(0.0)
0.7
of which: Credit
0.2
0.1
(0.1)
0.0
0.0
0.0
(0.2)
0.0
0.1
0.0
0.3
Financial assets at fair value not
 
held
for trading
4.2
0.1
0.1
0.7
(1.2)
0.1
(0.0)
0.2
(0.3)
(0.0)
3.7
of which: Loans
0.9
(0.0)
(0.0)
0.4
(0.4)
0.1
0.0
0.1
(0.3)
(0.0)
0.7
of which: Auction rate securities
1.6
0.1
0.0
0.0
(0.3)
0.0
0.0
0.0
0.0
0.0
1.3
of which: Equity instruments
0.7
0.0
0.0
0.1
(0.1)
0.0
0.0
0.1
0.0
(0.0)
0.8
Derivative financial instruments –
liabilities
2.2
(0.8)
(0.4)
0.0
0.0
1.1
(0.9)
0.3
(0.2)
(0.1)
1.7
of which: Interest rate
0.3
(0.3)
(0.0)
0.0
0.0
0.1
(0.0)
0.0
(0.0)
(0.0)
0.1
of which: Equity / index
1.5
(0.4)
(0.3)
0.0
0.0
0.8
(0.7)
0.1
(0.2)
(0.0)
1.2
of which: Credit
0.3
(0.1)
(0.0)
0.0
0.0
0.1
(0.1)
0.1
(0.0)
(0.0)
0.3
Debt issued designated at fair value
3
14.2
(2.2)
(1.8)
0.0
0.0
4.7
(3.1)
0.7
(3.4)
(0.3)
10.5
Other financial liabilities designated at
fair value
0.8
(0.1)
(0.1)
0.0
0.0
0.0
(0.1)
0.0
(0.0)
(0.0)
0.7
For the twelve months ended
 
31 December 2021
Financial assets at fair value held
 
for
trading
2.3
(0.0)
(0.1)
0.3
(1.6)
1.2
0.0
0.3
(0.3)
(0.0)
2.3
of which: Investment fund units
0.0
(0.0)
(0.0)
0.0
(0.0)
0.0
0.0
0.0
(0.0)
(0.0)
0.0
of which: Corporate and municipal
bonds
0.8
0.0
(0.0)
0.2
(0.4)
0.0
0.0
0.0
(0.1)
(0.0)
0.6
of which: Loans
1.1
0.0
(0.0)
0.0
(0.8)
1.2
0.0
0.0
(0.2)
0.0
1.4
Derivative financial instruments –
assets
1.8
(0.2)
(0.1)
0.0
0.0
0.5
(0.7)
0.1
(0.3)
(0.0)
1.1
of which: Interest rate
0.5
0.1
0.1
0.0
0.0
0.1
(0.2)
0.0
(0.1)
(0.0)
0.5
of which: Equity / index
0.9
(0.1)
(0.1)
0.0
0.0
0.3
(0.4)
0.0
(0.2)
(0.0)
0.4
of which: Credit
0.3
(0.1)
(0.1)
0.0
0.0
0.0
(0.1)
0.0
(0.0)
0.0
0.2
Financial assets at fair value not
 
held
for trading
3.9
0.1
0.1
1.0
(0.6)
0.0
0.0
0.1
(0.3)
(0.0)
4.2
of which: Loans
0.9
(0.0)
0.0
0.6
(0.3)
0.0
0.0
0.0
(0.3)
(0.0)
0.9
of which: Auction rate securities
1.5
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.6
of which: Equity instruments
0.5
0.1
0.1
0.1
(0.1)
0.0
0.0
0.0
(0.0)
(0.0)
0.7
Derivative financial instruments –
liabilities
3.5
0.2
(0.0)
0.0
0.0
0.9
(1.8)
0.0
(0.5)
(0.0)
2.2
of which: Interest rate
0.5
(0.1)
(0.1)
0.0
0.0
0.0
(0.1)
0.0
(0.0)
(0.0)
0.3
of which: Equity / index
2.3
0.3
0.1
0.0
0.0
0.8
(1.5)
0.0
(0.4)
(0.0)
1.5
of which: Credit
0.5
(0.1)
(0.1)
0.0
0.0
0.0
(0.0)
0.0
(0.1)
(0.0)
0.3
Debt issued designated at fair value
11.0
0.7
0.6
0.0
0.0
8.0
(4.2)
0.2
(1.2)
(0.2)
14.2
Other financial liabilities designated at
fair value
0.7
0.0
0.0
0.0
0.0
0.4
(0.2)
0.0
(0.0)
(0.0)
0.8
1 Net gains / losses included in comprehensive
 
income are recognized in Net interest
 
income and Other net income
 
from financial instruments
 
measured at fair value through profit
 
or loss in the Income statement,
 
and
also in
 
Gains /
 
(losses) from
 
own credit
 
on financial
 
liabilities
 
designated at
 
fair value,
 
before tax
 
in the
 
Statement
 
of comprehensive
 
income.
 
2 Total
 
Level 3
 
assets as
 
of 31 December
 
2022
 
were USD
6.8
bn
(31 December 2021:
 
USD
7.6
bn). Total Level
 
3 liabilities
 
as of 31 December
 
2022 were
 
USD
13.0
bn (31 December
 
2021: USD
17.4
bn).
 
3 Of the
 
USD
2.2
bn in net gains
 
/ losses
 
that is included
 
in comprehensive
income, USD
1.7
bn is recognized
 
in the Income
 
statement and
 
USD
0.5
bn is recognized
 
in the Statement
 
of comprehensive
 
income in
 
Gains / (losses)
 
from own credit
 
on financial liabilities
 
designated at fair
 
value,
before tax.
Disclosure Of Maximum Credit Risk Exposure Explanatory
Maximum exposure to credit
 
risk
 
31.12.22
Maximum
exposure to
credit risk
Collateral
Credit enhancements
Exposure to
credit risk
after collateral
and credit
enhancements
USD bn
Cash
collateral
received
Collateralized
by equity and
debt
instruments
Secured by
real estate
Other
 
collateral
Netting
Credit
derivative
contracts
Guarantees
 
Financial assets measured at
 
fair value on the balance
 
sheet
1
Financial assets at fair value
 
held for trading – debt instruments
2,3
16.5
 
16.5
Derivative financial instruments
4
150.1
5.9
133.5
10.7
Brokerage receivables
17.6
17.3
0.3
Financial assets at fair value not
 
held for trading – debt instruments
5
44.8
11.4
33.4
Total financial assets
 
measured at fair value
229.0
0.0
34.6
0.0
0.0
133.5
0.0
0.0
61.0
Guarantees
6
0.2
0.2
0.0
31.12.21
Maximum
exposure to
credit risk
Collateral
Credit enhancements
Exposure to
credit risk
after collateral
and credit
enhancements
USD bn
Cash
collateral
received
Collateralized
by equity and
debt
instruments
Secured by
real estate
Other
 
collateral
Netting
Credit
derivative
contracts
Guarantees
 
Financial assets measured at
 
fair value on the balance
 
sheet
1
Financial assets at fair value
 
held for trading – debt instruments
2,3
22.4
 
22.4
Derivative financial instruments
4
118.1
4.2
103.2
10.7
Brokerage receivables
21.8
21.6
0.2
Financial assets at fair value not
 
held for trading – debt instruments
5
37.0
11.2
25.7
Total financial assets
 
measured at fair value
199.4
0.0
37.1
0.0
0.0
103.2
0.0
0.0
59.1
Guarantees
6
0.2
0.2
0.0
1 The maximum exposure
 
to loss is generally
 
equal to the carrying amount
 
and subject to change
 
over time with market
 
movements.
 
2 These positions
 
are generally managed under the
 
market risk framework.
 
For
the purpose of this
 
disclosure, collateral
 
and credit enhancements
 
were not considered.
 
3 Does not include
 
investment fund
 
units.
 
4 The
 
amount shown in the
 
“Netting” column
 
represents the
 
netting potential
not recognized on the balance
 
sheet. Refer to Note
 
21 for more information.
 
5 Financial assets
 
at fair value not
 
held for trading collateralized
 
by securities consisted
 
of structured loans and reverse
 
repurchase and
securities borrowing agreements.
 
6 The amount
 
shown in the “Guarantees”
 
column largely relates to
 
sub-participations.
  
Disclosure Of Fair Value Of Financial Instruments Not Measured At Fair Value Explanatory
Financial instruments not measured
 
at fair value
31.12.22
31.12.21
Carrying
amount
Fair value
Carrying
amount
Fair value
USD bn
Total
Carrying
amount
approximates
fair value
1
Level
 
1
Level 2
Level 3
Total
Total
Carrying
amount
approximates
fair value
1
Level 1
Level 2
Level 3
Total
Assets
Cash and balances at central banks
169.4
169.4
0.1
0.0
0.0
169.4
192.8
192.7
0.1
0.0
0.0
192.8
Loans and advances to banks
14.8
14.0
0.0
0.7
0.0
14.8
15.5
14.8
0.0
0.7
0.0
15.5
Receivables from securities financing
transactions measured at amortized cost
67.8
64.3
0.0
1.8
1.7
67.8
75.0
71.6
0.0
1.3
2.1
75.0
Cash collateral receivables on derivative
instruments
35.0
35.0
0.0
0.0
0.0
35.0
30.5
30.5
0.0
0.0
0.0
30.5
Loans and advances to customers
387.2
134.3
0.0
45.9
194.7
374.9
397.8
163.1
0.0
43.8
190.1
396.9
Other financial assets measured at amortized
cost
2
53.3
12.9
10.3
25.1
2.5
50.8
26.2
4.1
9.3
10.7
2.4
26.5
Liabilities
Amounts due to banks
11.6
8.9
0.0
2.7
0.0
11.6
13.1
9.1
0.0
4.0
0.0
13.1
Payables from securities financing
transactions measured at amortized cost
4.2
3.5
0.0
0.7
0.0
4.2
5.5
4.1
0.0
1.5
0.0
5.5
Cash collateral payables on derivative
instruments
36.4
36.4
0.0
0.0
0.0
36.4
31.8
31.8
0.0
0.0
0.0
31.8
Customer deposits
525.1
491.3
0.0
33.6
0.0
524.8
542.0
535.4
0.0
6.6
0.0
542.0
Debt issued measured at amortized cost
114.6
15.4
0.0
98.1
0.0
113.5
139.2
15.8
0.0
125.3
0.0
141.1
Other financial liabilities measured at
amortized cost
3
6.2
6.2
0.0
0.0
0.0
6.2
5.4
5.4
0.0
0.0
0.0
5.4
1 Includes certain financial instruments
 
where the carrying amount
 
is a reasonable approximation
 
of the fair value
 
due to the instruments’
 
short-term nature (instruments
 
that are receivable
 
or payable on demand,
 
or
with a remaining maturity (excluding the effects
 
of callable features) of three months or less).
 
2 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 1 for information.
 
3 Excludes lease liabilities.
  
UBS AG    
Entity [Table]    
Disclosure Of Fair Value Measurement Of Assets Explanatory
Determination of fair values
 
from quoted market prices or valuation techniques
1
31.12.22
31.12.21
USD m
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Financial assets measured at
 
fair value on a recurring basis
Financial assets at fair value held for trading
96,263
10,284
1,488
108,034
113,722
15,012
2,299
131,033
of which: Equity instruments
83,095
789
126
84,010
97,983
1,090
149
99,222
of which: Government bills / bonds
5,496
950
18
6,464
7,135
1,351
10
8,496
of which: Investment fund units
6,673
596
61
7,330
7,843
1,364
21
9,229
of which: Corporate and municipal bonds
976
6,509
541
8,026
708
7,791
556
9,055
of which: Loans
0
1,179
628
1,807
0
3,099
1,443
4,542
of which: Asset-backed securities
22
261
114
397
53
317
120
489
Derivative financial instruments
769
147,876
1,464
150,109
522
116,482
1,140
118,145
of which: Foreign exchange
575
84,882
2
85,459
255
53,046
7
53,307
of which: Interest rate
0
39,345
460
39,805
0
32,747
494
33,241
of which: Equity / index
1
21,542
653
22,195
0
27,861
384
28,245
of which: Credit
0
719
318
1,038
0
1,179
236
1,414
of which: Commodities
0
1,334
30
1,365
0
1,590
16
1,606
Brokerage receivables
0
17,576
0
17,576
0
21,839
0
21,839
Financial assets at fair value not held for trading
26,572
29,110
3,725
59,408
27,278
28,185
4,180
59,642
of which: Financial assets for unit-linked investment
 
contracts
13,071
1
0
13,072
21,110
187
6
21,303
of which: Corporate and municipal bonds
35
14,101
230
14,366
123
13,937
306
14,366
of which: Government bills / bonds
13,103
3,638
0
16,741
5,624
3,236
0
8,860
of which: Loans
0
3,602
736
4,337
0
4,982
892
5,874
of which: Securities financing transactions
0
7,590
114
7,704
0
5,704
100
5,804
of which: Auction rate securities
0
0
1,326
1,326
0
0
1,585
1,585
of which: Investment fund units
307
178
190
675
338
137
117
591
of which: Equity instruments
57
0
792
849
83
2
681
765
Financial assets measured at
 
fair value through other comprehensive
 
income on a recurring basis
Financial assets measured at fair value through
 
other comprehensive income
57
2,182
0
2,239
2,704
6,140
0
8,844
of which: Asset-backed securities
2
0
0
0
0
0
4,849
0
4,849
of which: Government bills / bonds
2
0
26
0
26
2,658
27
0
2,686
of which: Corporate and municipal bonds
57
2,156
0
2,213
45
1,265
0
1,310
Non-financial assets measured at
 
fair value on a recurring basis
Precious metals and other physical commodities
4,471
0
0
4,471
5,258
0
0
5,258
Non-financial assets measured at
 
fair value on a non-recurring
 
basis
Other non-financial assets
3
0
0
21
21
0
0
26
26
Total assets measured
 
at fair value
128,132
207,028
6,698
341,858
149,484
187,658
7,645
344,787
  
Disclosure Of Fair Value Measurement Of Liabilities Explanatory
Determination of fair values
 
from quoted market prices or valuation techniques
 
(continued)
1
31.12.22
31.12.21
USD m
Level 1
Level 2
Level 3
Total
Level 1
Level 2
Level 3
Total
Financial liabilities measured at fair value
 
on a recurring basis
Financial liabilities at fair value held for trading
23,578
5,823
114
29,515
25,413
6,170
105
31,688
of which: Equity instruments
16,521
352
78
16,951
18,328
513
83
18,924
of which: Corporate and municipal bonds
36
4,643
27
4,707
30
4,219
17
4,266
of which: Government bills / bonds
5,880
706
1
6,587
5,883
826
0
6,709
of which: Investment fund units
1,141
84
3
1,229
1,172
555
6
1,733
Derivative financial instruments
640
152,582
1,684
154,906
509
118,558
2,242
121,309
of which: Foreign exchange
 
587
87,897
24
88,508
258
53,800
21
54,078
of which: Interest rate
 
0
37,429
116
37,545
0
28,398
278
28,675
of which: Equity / index
 
0
24,963
1,184
26,148
0
33,438
1,511
34,949
of which: Credit
0
920
279
1,199
0
1,412
341
1,753
of which: Commodities
0
1,309
52
1,361
0
1,503
63
1,566
Financial liabilities designated at
 
fair value on a recurring basis
Brokerage payables designated at
 
fair value
0
45,085
0
45,085
0
44,045
0
44,045
Debt issued designated at fair value
0
62,603
9,240
71,842
0
59,606
11,854
71,460
Other financial liabilities designated at fair value
0
30,055
1,978
32,033
0
29,258
3,156
32,414
of which: Financial liabilities related to unit-linked
 
investment contracts
0
13,221
0
13,221
0
21,466
0
21,466
of which: Securities financing transactions
0
15,333
0
15,333
0
6,375
2
6,377
of which: Over-the-counter
 
debt instruments and other
0
993
691
1,684
0
1,417
814
2,231
Total liabilities measured
 
at fair value
24,219
296,148
13,015
333,382
25,922
257,637
17,357
300,916
1 Bifurcated embedded derivatives are presented
 
on the same balance sheet lines as their host contracts and are not included
 
in this table. The fair value of
 
these derivatives was not material for the periods
 
presented.
 
2 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 1 for more information.
 
3 Other non-financial assets primarily
 
consist of properties and other non-current assets
 
held for sale, which are measured
 
at the lower of their net carrying amount or fair value
less costs to sell.
  
Disclosure Of Deferred Day-One Profit Or Loss Explanatory
Deferred day-1 profit
 
or loss reserves
USD m
2022
2021
2020
Reserve balance at the beginning of the
 
year
418
269
146
Profit / (loss) deferred on new transactions
299
459
362
(Profit) / loss recognized in the income statement
(295)
(308)
(238)
Foreign currency translation
0
(2)
0
Reserve balance at the end of the year
422
418
269
  
Disclosure Of Change In Fair Value Of Financial Liability Attributable To Change In Credit Risk Of Liability Explanatory
Own credit adjustments on financial
 
liabilities designated at fair value
Included in Other comprehensive income
For the year ended
USD m
31.12.22
31.12.21
31.12.20
Recognized during the period:
Realized gain / (loss)
 
1
(14)
2
Unrealized gain / (loss)
 
866
60
(295)
Total gain / (loss), before
 
tax
867
46
(293)
USD m
31.12.22
31.12.21
31.12.20
Recognized on the balance sheet
 
as of the end of the period:
Unrealized life-to-date gain / (loss)
 
556
(315)
(381)
of which: debt issued designated at fair value
289
(144)
(233)
of which: other financial liabilities designated at fair value
266
(172)
(148)
  
Disclosure Of Valuation Adjustments On Financial Instruments Explanatory
Balance sheet valuation adjustments
 
on financial instruments
As of
USD m
31.12.22
31.12.21
Credit valuation adjustments
1
(33)
(44)
Funding valuation adjustments
(50)
(49)
Debit valuation adjustments
4
2
Other valuation adjustments
(839)
(913)
of which: liquidity
(311)
(341)
of which: model uncertainty
(529)
(571)
1 Amounts do not include reserves
 
against defaulted counterparties.
  
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets And Liabilities Explanatory
Valuation techniques
 
and inputs used in the fair value measurement
 
of Level 3 assets and liabilities
Fair value
Significant
unobservable
input(s)
1
Range of inputs
Assets
Liabilities
Valuation
technique(s)
31.12.22
31.12.21
USD bn
31.12.22
31.12.21
31.12.22
31.12.21
low
high
weighted
average
2
low
high
weighted
average
2
unit
1
Financial assets and liabilities at fair value
 
held for trading and Financial
 
assets at fair value not held for trading
Corporate and municipal
bonds
0.8
0.9
0.0
0.0
Relative value to
market comparable
Bond price equivalent
14
112
85
16
143
98
points
Discounted expected
cash flows
Discount margin
412
412
434
434
basis
points
Traded loans, loans
measured at fair value,
loan commitments and
guarantees
1.7
2.8
0.0
0.0
Relative value to
market comparable
Loan price equivalent
30
100
97
0
101
99
points
Discounted expected
cash flows
Credit spread
200
200
200
175
800
436
basis
points
Market comparable
and securitization
model
Credit spread
145
1,350
322
28
1,544
241
basis
points
Auction rate securities
1.3
1.6
Discounted expected
cash flows
Credit spread
115
196
144
115
197
153
basis
points
Investment fund units
3
0.3
0.1
0.0
0.0
Relative value to
market comparable
Net asset value
Equity instruments
3
0.9
0.8
0.1
0.1
Relative value to
market comparable
Price
Debt issued designated at
fair value
4
9.2
11.9
Other financial liabilities
designated at fair value
2.0
3.2
Discounted expected
cash flows
Funding spread
23
175
24
175
basis
points
Derivative financial instruments
Interest rate
0.5
0.5
0.1
0.3
Option model
Volatility of interest
rates
75
143
65
81
basis
points
Credit
0.3
0.2
0.3
0.3
Discounted expected
cash flows
Credit spreads
 
9
565
1
583
basis
points
Bond price equivalent
3
277
2
136
points
Equity / index
0.7
0.4
1.2
1.5
Option model
Equity dividend yields
0
20
0
11
%
Volatility of equity
stocks, equity and
other indices
4
120
4
98
%
Equity-to-FX
correlation
(29)
84
(29)
76
%
Equity-to-equity
correlation
(25)
100
(25)
100
%
1 The ranges
 
of significant unobservable
 
inputs are represented
 
in points, percentages
 
and basis points.
 
Points are a
 
percentage of par (e.g.,
 
100 points would
 
be 100% of par).
 
2 Weighted
 
averages are
 
provided
for most non-derivative
 
financial instruments
 
and were calculated
 
by weighting inputs
 
based on the fair
 
values of the
 
respective instruments.
 
Weighted
 
averages are not
 
provided for inputs
 
related to Other
 
financial
liabilities designated
 
at fair
 
value and
 
Derivative financial
 
instruments,
 
as this would
 
not be meaningful.
 
3 The
 
range of
 
inputs is
 
not disclosed,
 
as there
 
is a
 
dispersion of
 
values
 
given the
 
diverse nature
 
of the
investments.
 
4 Debt issued designated at fair value
 
primarily consists of UBS
 
structured notes, which include
 
variable maturity notes with
 
various equity and foreign
 
exchange underlying risks,
 
rates-linked
 
and credit-
linked notes, all of which
 
have embedded derivative
 
parameters that are considered
 
to be unobservable. The
 
equivalent derivative instrument
 
parameters are presented in the respective
 
derivative financial instruments
lines in this table.
  
Disclosure Of Sensitivity Analysis Of Fair Value Measurement To Changes In Unobservable Inputs Assets And Liabilities Explanatory
Sensitivity of fair value measurements
 
to changes in unobservable input
 
assumptions
1
31.12.22
31.12.21
USD m
Favorable
 
changes
Unfavorable
 
changes
Favorable
 
changes
Unfavorable
 
changes
Traded loans, loans
 
measured at fair value, loan
 
commitments and guarantees
19
(12)
19
(13)
Securities financing transactions
33
(37)
41
(53)
Auction rate securities
46
2
(46)
2
66
(66)
Asset-backed securities
27
(27)
20
(20)
Equity instruments
183
(161)
173
(146)
Interest rate derivatives, net
18
2
(12)
2
29
(19)
Credit derivatives, net
3
(4)
5
(8)
Foreign exchange derivatives,
 
net
10
(5)
19
(11)
Equity / index derivatives, net
361
(330)
368
(335)
Other
39
2
(62)
2
50
(73)
Total
738
(696)
790
(744)
1 Sensitivity
 
of issued and over-the
 
-counter debt instruments
 
is reported with
 
the equivalent
 
derivative or securities
 
financing instrument.
 
2 Includes refinements
 
applied in estimating
 
valuation uncertainty
 
across
various parameters.
  
Disclosure Of Level 3 Of Fair Value Of Financial Instruments Explanatory
Movements of Level 3
 
instruments
USD bn
Balance at
the beginning
of the period
Net gains /
losses
included in
compre-
hensive
income
1
of which:
related to
instruments
held at the
end of the
period
Purchases
Sales
Issuances
Settlements
Transfers
 
into
 
Level 3
Transfers
 
out of
 
Level 3
Foreign
 
currency
 
translation
Balance at
the end
of the period
For the twelve months ended
 
31 December 2022
2
Financial assets at fair value held
 
for
trading
2.3
(0.3)
(0.3)
0.3
(1.8)
0.5
0.0
0.7
(0.3)
(0.0)
1.5
of which: Investment fund units
0.0
(0.0)
(0.0)
0.0
(0.0)
0.0
0.0
0.1
(0.0)
(0.0)
0.1
of which: Corporate and municipal
bonds
0.6
(0.0)
(0.0)
0.3
(0.6)
0.0
0.0
0.4
(0.0)
(0.0)
0.5
of which: Loans
1.4
(0.1)
(0.1)
0.0
(1.1)
0.5
0.0
0.0
(0.2)
0.0
0.6
Derivative financial instruments –
assets
1.1
0.6
0.3
0.0
0.0
0.4
(0.7)
0.1
(0.0)
(0.0)
1.5
of which: Interest rate
0.5
0.3
0.3
0.0
0.0
0.0
(0.2)
0.0
(0.1)
(0.0)
0.5
of which: Equity / index
0.4
0.2
0.1
0.0
0.0
0.4
(0.3)
0.1
(0.0)
(0.0)
0.7
of which: Credit
0.2
0.1
(0.1)
0.0
0.0
0.0
(0.2)
0.0
0.1
0.0
0.3
Financial assets at fair value not
 
held
for trading
4.2
0.1
0.1
0.7
(1.2)
0.1
(0.0)
0.2
(0.3)
(0.0)
3.7
of which: Loans
0.9
(0.0)
(0.0)
0.4
(0.4)
0.1
0.0
0.1
(0.3)
(0.0)
0.7
of which: Auction rate securities
1.6
0.1
0.0
0.0
(0.3)
0.0
0.0
0.0
0.0
0.0
1.3
of which: Equity instruments
0.7
0.0
0.0
0.1
(0.1)
0.0
0.0
0.1
0.0
(0.0)
0.8
Derivative financial instruments –
liabilities
2.2
(0.8)
(0.4)
0.0
0.0
1.1
(0.9)
0.3
(0.2)
(0.1)
1.7
of which: Interest rate
0.3
(0.3)
(0.0)
0.0
0.0
0.1
(0.0)
0.0
(0.0)
(0.0)
0.1
of which: Equity / index
1.5
(0.4)
(0.3)
0.0
0.0
0.8
(0.7)
0.1
(0.2)
(0.0)
1.2
of which: Credit
0.3
(0.1)
(0.0)
0.0
0.0
0.1
(0.1)
0.1
(0.0)
(0.0)
0.3
Debt issued designated at fair value
11.9
(1.3)
(0.9)
0.0
0.0
4.7
(3.1)
0.7
(3.3)
(0.3)
9.2
Other financial liabilities designated at
fair value
3
3.2
(1.0)
(1.0)
0.0
0.0
0.0
(0.1)
0.1
(0.2)
(0.0)
2.0
For the twelve months ended
 
31 December 2021
Financial assets at fair value held
 
for
trading
2.3
(0.0)
(0.1)
0.3
(1.6)
1.2
0.0
0.3
(0.3)
(0.0)
2.3
of which: Investment fund units
0.0
(0.0)
(0.0)
0.0
(0.0)
0.0
0.0
0.0
(0.0)
(0.0)
0.0
of which: Corporate and municipal
bonds
0.8
0.0
(0.0)
0.2
(0.4)
0.0
0.0
0.0
(0.1)
(0.0)
0.6
of which: Loans
1.1
0.0
(0.0)
0.0
(0.8)
1.2
0.0
0.0
(0.2)
0.0
1.4
Derivative financial instruments –
assets
1.8
(0.2)
(0.1)
0.0
0.0
0.5
(0.7)
0.1
(0.3)
(0.0)
1.1
of which: Interest rate
0.5
0.1
0.1
0.0
0.0
0.1
(0.2)
0.0
(0.1)
(0.0)
0.5
of which: Equity / index
0.9
(0.1)
(0.1)
0.0
0.0
0.3
(0.4)
0.0
(0.2)
(0.0)
0.4
of which: Credit
0.3
(0.1)
(0.1)
0.0
0.0
0.0
(0.1)
0.0
(0.0)
0.0
0.2
Financial assets at fair value not
 
held
for trading
3.9
0.1
0.1
1.0
(0.6)
0.0
0.0
0.1
(0.3)
(0.0)
4.2
of which: Loans
0.9
(0.0)
0.0
0.6
(0.3)
0.0
0.0
0.0
(0.3)
(0.0)
0.9
of which: Auction rate securities
1.5
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.6
of which: Equity instruments
0.5
0.1
0.1
0.1
(0.1)
0.0
0.0
0.0
(0.0)
(0.0)
0.7
Derivative financial instruments –
liabilities
3.5
0.2
(0.0)
0.0
0.0
0.9
(1.8)
0.0
(0.5)
(0.0)
2.2
of which: Interest rate
0.5
(0.1)
(0.1)
0.0
0.0
0.0
(0.1)
0.0
(0.0)
(0.0)
0.3
of which: Equity / index
2.3
0.3
0.1
0.0
0.0
0.8
(1.5)
0.0
(0.4)
(0.0)
1.5
of which: Credit
0.5
(0.1)
(0.1)
0.0
0.0
0.0
(0.0)
0.0
(0.1)
(0.0)
0.3
Debt issued designated at fair value
9.6
0.7
0.6
0.0
0.0
7.1
(4.2)
0.1
(1.2)
(0.2)
11.9
Other financial liabilities designated at
fair value
2.1
0.0
0.0
0.0
0.0
1.3
(0.2)
0.0
(0.0)
(0.0)
3.2
1 Net gains / losses included in comprehensive
 
income are recognized in Net interest
 
income and Other net income
 
from financial instruments
 
measured at fair value through
 
profit or loss in the Income statement, and
also in
 
Gains /
 
(losses) from
 
own credit
 
on financial
 
liabilities
 
designated at
 
fair value,
 
before tax
 
in the
 
Statement
 
of comprehensive
 
income.
 
2 Total
 
Level 3
 
assets as
 
of 31 December
 
2022
 
were USD
6.7
bn
(31 December 2021:
 
USD
7.6
bn). Total Level
 
3 liabilities
 
as of 31 December
 
2022 were
 
USD
13.0
bn (31 December 2021:
 
USD
17.4
bn).
 
3 Of the
 
USD
1.0
bn in net gains
 
/ losses that
 
is included in
 
comprehensive
income, USD
0.6
bn is recognized
 
in the Income
 
statement and
 
USD
0.4
bn is recognized
 
in the Statement
 
of comprehensive
 
income in
 
Gains / (losses)
 
from own credit
 
on financial liabilities
 
designated at fair
 
value,
before tax.
Disclosure Of Maximum Credit Risk Exposure Explanatory
Maximum exposure to credit
 
risk
 
31.12.22
Maximum
exposure to
credit risk
Collateral
Credit enhancements
Exposure to
credit risk
after collateral
and credit
enhancements
USD bn
Cash
collateral
received
Collateralized
by equity and
debt
instruments
Secured by
real estate
Other
 
collateral
Netting
Credit
derivative
contracts
Guarantees
 
Financial assets measured at
 
fair value on the balance
 
sheet
1
Financial assets at fair value
 
held for trading – debt instruments
2,3
16.7
 
16.7
Derivative financial instruments
4
150.1
5.9
133.5
10.7
Brokerage receivables
17.6
17.3
0.3
Financial assets at fair value not
 
held for trading – debt instruments
5
44.8
11.4
33.4
Total financial assets
 
measured at fair value
229.2
0.0
34.6
0.0
0.0
133.5
0.0
0.0
61.2
Guarantees
6
0.2
0.2
0.0
31.12.21
Maximum
exposure to
credit risk
Collateral
Credit enhancements
Exposure to
credit risk
after collateral
and credit
enhancements
USD bn
Cash
collateral
received
Collateralized
by equity and
debt
instruments
Secured by
real estate
Other
 
collateral
Netting
Credit
derivative
contracts
Guarantees
 
Financial assets measured at
 
fair value on the balance
 
sheet
1
Financial assets at fair value
 
held for trading – debt instruments
2,3
22.6
 
22.6
Derivative financial instruments
4
118.1
4.2
103.2
10.7
Brokerage receivables
21.8
0.0
21.6
0.2
Financial assets at fair value not
 
held for trading – debt instruments
5
37.0
0.0
11.2
25.7
Total financial assets
 
measured at fair value
199.5
0.0
37.1
0.0
0.0
103.2
0.0
0.0
59.2
Guarantees
6
0.2
0.0
0.2
0.0
1 The maximum exposure
 
to loss is generally
 
equal to the carrying amount
 
and subject to change
 
over time with market
 
movements.
 
2 These positions
 
are generally managed under the
 
market risk framework.
 
For
the purpose of this
 
disclosure, collateral
 
and credit enhancements
 
were not considered.
 
3 Does not include
 
investment fund
 
units.
 
4 The
 
amount shown in the
 
“Netting” column
 
represents the
 
netting potential
not recognized on the balance
 
sheet. Refer to Note
 
21 for more information.
 
5 Financial assets
 
at fair value not
 
held for trading collateralized
 
by securities consisted
 
of structured loans and reverse
 
repurchase and
securities borrowing agreements.
 
6 The amount
 
shown in the “Guarantees”
 
column largely relates to
 
sub-participations.
  
Disclosure Of Fair Value Of Financial Instruments Not Measured At Fair Value Explanatory
Financial instruments not measured
 
at fair value
31.12.22
31.12.21
Carrying
amount
Fair value
Carrying
amount
Fair value
USD bn
Total
Carrying
amount
approximates
fair value
1
Level 1
Level 2
Level 3
Total
Total
Carrying
amount
approximates
fair value
1
Level 1
Level 2
Level 3
Total
Assets
Cash and balances at central banks
169.4
169.4
0.1
0.0
0.0
169.4
192.8
192.7
0.1
0.0
0.0
192.8
Loans and advances to banks
14.7
13.9
0.0
0.7
0.0
14.6
15.4
14.6
0.0
0.7
0.0
15.3
Receivables from securities financing
transactions measured at amortized cost
67.8
64.3
0.0
1.8
1.7
67.8
75.0
71.6
0.0
1.3
2.1
75.0
Cash collateral receivables on derivative
instruments
35.0
35.0
0.0
0.0
0.0
35.0
30.5
30.5
0.0
0.0
0.0
30.5
Loans and advances to customers
390.0
136.9
0.0
45.9
195.0
377.7
398.7
163.7
0.0
43.8
190.4
397.9
Other financial assets measured at amortized
cost
2
53.4
13.0
10.3
25.1
2.5
51.0
26.2
4.1
9.3
10.7
2.4
26.5
Liabilities
Amounts due to banks
11.6
8.9
0.0
2.7
0.0
11.6
13.1
9.1
0.0
4.0
0.0
13.1
Payables from securities financing
transactions measured at amortized cost
4.2
3.5
0.0
0.7
0.0
4.2
5.5
4.1
0.0
1.5
0.0
5.5
Cash collateral payables on derivative
instruments
36.4
36.4
0.0
0.0
0.0
36.4
31.8
31.8
0.0
0.0
0.0
31.8
Customer deposits
527.2
493.0
0.0
33.9
0.0
526.9
544.8
537.6
0.0
7.3
0.0
544.8
Funding from UBS Group AG measured at
amortized cost
56.1
2.0
0.0
53.7
0.0
55.7
57.3
2.8
0.0
56.0
0.0
58.8
Debt issued measured at amortized cost
59.5
13.4
0.0
45.5
0.0
58.9
82.4
13.0
0.0
69.8
0.0
82.8
Other financial liabilities measured at
amortized cost
3
7.2
7.2
0.0
0.0
0.0
7.2
6.3
6.3
0.0
0.0
0.0
6.3
1 Includes certain financial instruments
 
where the carrying amount
 
is a reasonable approximation
 
of the fair value
 
due to the instruments’
 
short-term nature (instruments
 
that are receivable
 
or payable on demand,
 
or
with a remaining maturity (excluding the effects
 
of callable features) of three months or less).
 
2 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 1 for information.
 
3 Excludes lease liabilities.