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Derivative instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure Of Derivative Financial Assets And Liabilities [Line Items]  
Disclosure Of Derivative Financial Assets And Liabilities Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
31.12.23
31.12.22
USD bn
Derivative
financial
assets
Derivative
financial
liabilities
Notional
amounts related
to derivative
financial assets
and liabilities
1,2
Other
notional
amounts
1,3
Derivative
financial
assets
Derivative
financial
liabilities
Notional
amounts related
to derivative
financial assets
and liabilities
1,2
Other
notional
amounts
1,3
Interest rate
55.6
52.9
3,524.1
20,073.9
39.8
37.5
2,080.3
11,255.4
of which: forwards (OTC)
4
0.1
0.1
122.4
2,532.2
0.2
0.0
72.3
792.7
of which: swaps (OTC)
37.7
32.6
1,331.6
16,601.3
25.2
19.8
607.1
9,728.6
of which: options (OTC)
17.7
20.0
2,066.7
14.2
17.5
1,392.5
of which: futures (ETD)
843.7
606.3
of which: options (ETD)
0.0
0.0
3.4
96.1
0.0
0.0
8.3
127.7
Credit derivatives
4.0
4.7
274.9
1.0
1.2
73.9
of which: credit default swaps (OTC)
3.8
4.4
269.6
0.9
1.0
71.0
of which: total return swaps (OTC)
0.1
0.3
3.7
0.1
0.2
1.2
Foreign exchange
78.7
89.9
6,913.3
180.4
85.5
88.5
6,079.8
40.1
of which: forwards (OTC)
18.7
24.1
2,152.0
26.5
28.6
1,763.6
of which: swaps (OTC)
52.2
58.1
3,809.7
178.7
49.6
50.4
3,233.0
38.4
of which: options (OTC)
7.7
7.6
944.4
9.3
9.2
1,073.2
Equity / index
35.5
41.4
1,396.8
95.0
22.2
26.1
885.8
63.4
of which: swaps (OTC)
6.6
9.2
273.3
5.3
6.6
217.5
of which: options (OTC)
4.9
9.0
245.2
2.8
4.4
140.6
of which: futures (ETD)
86.6
52.2
of which: options (ETD)
15.4
14.3
876.6
8.5
9.0
8.1
526.7
11.2
of which: client-cleared transactions (ETD)
8.3
8.2
5.1
7.0
Commodities
2.0
1.6
142.9
16.4
1.4
1.4
132.3
17.6
of which: swaps (OTC)
0.9
0.7
50.0
0.5
0.7
38.6
of which: options (OTC)
0.6
0.3
42.3
0.4
0.3
29.1
of which: futures (ETD)
13.7
16.4
of which: forwards (ETD)
0.0
0.0
31.5
0.0
0.0
47.7
of which: client-cleared transactions (ETD)
0.2
0.3
0.2
0.3
Other
5
0.4
1.6
116.5
0.2
0.1
49.8
Total derivative instruments,
 
based on netting under IFRS Accounting Standards
6
176.1
192.2
12,368.5
20,365.8
150.1
154.9
9,301.8
11,376.5
of which: Credit Suisse
7
47.4
53.5
2,194.1
6,337.4
1 In cases where derivative financial instruments
 
are presented on a net basis on the balance
 
sheet, the respective notional amounts of the netted derivative
 
financial instruments are still presented on a gross basis.
 
2 Notional amounts of client-cleared ETD and OTC transactions through central clearing counterparties are not disclosed, as they have
 
significantly different risk profile.
 
3 Other notional amounts relate to derivatives
that are cleared through either
 
a central counterparty or an
 
exchange and settled on a
 
daily basis (except for
 
OTC derivatives settled through collateralized-to-market arrangements, which are presented under
 
Derivative
financial assets and Derivative financial liabilities). The fair value of these derivatives is presented on the balance sheet net of the corresponding cash margin under Cash collateral receivables on derivative instruments
and Cash collateral payables on derivative instruments and was not material for any of the periods presented.
 
4 Includes certain forward starting repurchase and reverse repurchase agreements that are classified as
measured at fair value through profit or
 
loss and are recognized within derivative
 
instruments.
 
5 Includes mainly derivative loan commitments
 
measured at FVTPL, as well as unsettled
 
purchases and sales of non-
derivative financial instruments
 
for which the
 
changes in the
 
fair value between
 
trade date and
 
settlement date are
 
recognized as derivative
 
financial instruments.
 
6 Derivative financial
 
assets and liabilities
 
are
presented net on
 
the balance sheet
 
if UBS has
 
the unconditional and
 
legally enforceable right
 
to offset the
 
recognized amounts,
 
both in the
 
normal course of
 
business and in
 
the event of
 
default, bankruptcy or
insolvency of
 
the entity
 
and all
 
of the
 
counterparties, and
 
intends either
 
to settle
 
on a
 
net basis
 
or to
 
realize the
 
asset and
 
settle the
 
liability simultaneously.
 
Refer to
 
Note 22
 
for more
 
information on
 
netting
arrangements.
 
7 Refer to Note 2 for more information about the acquisition of the Credit Suisse Group.