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Expected credit loss measurement (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure Of Financial Assets [Line Item]  
Disclosure Of Credit Loss Expense Recovery Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit loss expense / (release)
Performing positions
Credit-impaired positions
USD m
Stages 1 and 2
Stage 3
Purchased
Total
For the year ended 31.12.23
Global Wealth Management
108
27
13
147
Personal & Corporate Banking
290
183
27
501
Asset Management
1
(1)
0
0
Investment Bank
110
78
2
190
Non-core and Legacy
78
91
25
193
Group Items
1
5
0
0
6
Total
593
378
67
1,037
For the year ended 31.12.22
Global Wealth Management
(5)
5
0
Personal & Corporate Banking
27
12
39
Asset Management
0
0
0
Investment Bank
6
(18)
(12)
Non-core and Legacy
0
2
2
Group Items
1
1
0
1
Total
29
0
29
For the year ended 31.12.21
Global Wealth Management
(28)
(1)
(29)
Personal & Corporate Banking
(62)
(24)
(86)
Asset Management
0
1
1
Investment Bank
(34)
0
(34)
Non-core and Legacy
0
0
 
0
Group Items
1
0
0
0
Total
(123)
(25)
(148)
1 Starting with the third quarter of 2023, Non-core and Legacy became a separate reportable segment and Group Functions has been renamed Group Items. Prior periods have been restated to reflect these changes.
Disclosure Of Key Macro Economic Scenario Weights Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Economic scenarios and weights applied
Assigned weights in %
ECL scenario
31.12.23
31.12.22
Asset price inflation
0.0
0.0
Baseline
60.0
60.0
Mild debt crisis
15.0
0.0
Stagflationary geopolitical crisis
25.0
25.0
Global crisis
0.0
15.0
Disclosure Of Key Macro Economic Variables Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Scenario assumptions
One year
Three years cumulative
31.12.23
Asset price
inflation
Baseline
Mild debt
crisis
Stagflationary
geopolitical
crisis
Asset price
inflation
Baseline
Mild debt
crisis
Stagflationary
geopolitical
crisis
Real GDP growth (% change)
United States
4.0
0.1
(1.6)
(4.8)
9.1
4.4
0.6
(4.4)
Eurozone
3.0
0.5
(1.7)
(5.6)
6.2
2.9
(0.1)
(5.7)
Switzerland
3.0
1.4
(1.2)
(4.8)
6.6
4.4
0.3
(4.9)
Consumer price index (% change)
United States
2.5
2.3
(0.1)
10.0
8.1
7.1
2.3
15.8
Eurozone
2.3
2.0
(0.2)
9.6
7.4
6.1
1.8
14.8
Switzerland
2.1
1.5
(0.4)
5.8
6.2
4.3
0.8
10.7
Unemployment rate (end-of-period level, %)
United States
3.0
4.4
6.3
9.2
3.0
4.4
7.7
11.8
Eurozone
6.0
6.9
8.2
10.6
6.0
6.8
9.0
11.8
Switzerland
1.6
2.3
2.9
4.1
1.5
2.3
3.8
5.0
Fixed income: 10-year government bonds (change in yields, basis points)
USD
13
(82)
(215)
270
37
(78)
(155)
245
EUR
20
(90)
(185)
225
58
(78)
(140)
195
CHF
25
(41)
(73)
195
63
(34)
(28)
180
Equity indices (% change)
S&P 500
20.0
15.3
(26.6)
(51.5)
51.7
28.1
(12.2)
(45.6)
EuroStoxx 50
20.0
12.0
(26.4)
(51.6)
46.6
22.9
(16.6)
(47.2)
SPI
15.0
4.6
(24.5)
(51.6)
39.2
15.9
(11.2)
(47.2)
Swiss real estate (% change)
Single-Family Homes
6.6
(1.5)
(4.4)
(18.5)
14.0
0.8
(3.0)
(28.6)
Other real estate (% change)
United States (S&P / Case–Shiller)
8.1
0.6
(8.6)
(20.0)
19.7
5.8
(5.2)
(30.2)
Eurozone (House Price Index)
7.0
0.6
(5.9)
(8.4)
15.4
6.4
(5.2)
(12.9)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Scenario assumptions
One year
Three years cumulative
31.12.22
Asset price
inflation
Baseline
Stagflationary
geopolitical
crisis
Global
crisis
Asset price
inflation
Baseline
Stagflationary
geopolitical
crisis
Global
crisis
Real GDP growth (% change)
United States
4.0
(0.3)
(4.8)
(6.4)
9.1
3.2
(4.4)
(1.8)
Eurozone
3.0
0.6
(5.6)
(8.5)
6.2
2.5
(5.7)
(8.3)
Switzerland
3.0
0.7
(4.8)
(6.7)
6.6
3.5
(4.9)
(3.7)
Consumer price index (% change)
United States
2.5
2.6
10.0
(0.5)
8.1
6.5
15.8
1.2
Eurozone
2.3
5.0
9.6
(0.7)
7.4
9.6
14.8
(0.7)
Switzerland
2.1
1.6
5.8
(1.8)
6.2
3.9
10.7
(1.6)
Unemployment rate (end-of-period level, %)
United States
3.0
3.9
9.2
10.0
3.0
5.3
11.8
9.4
Eurozone
6.0
7.0
10.9
11.9
6.0
7.1
12.2
13.0
Switzerland
1.7
2.3
4.3
4.4
1.5
2.6
5.1
4.9
Fixed income: 10-year government bonds (change in yields, basis points)
USD
25
(6)
235
(326)
70
(13)
205
(291)
EUR
20
48
250
(271)
58
45
220
(247)
CHF
25
46
220
(210)
63
57
205
(160)
Equity indices (% change)
S&P 500
20.0
7.4
(51.5)
(50.0)
51.7
22.8
(45.6)
(27.9)
EuroStoxx 50
17.0
17.2
(51.6)
(50.0)
42.9
29.2
(47.2)
(39.3)
SPI
14.0
5.6
(51.6)
(46.0)
37.9
19.3
(47.2)
(32.9)
Swiss real estate (% change)
Single-Family Homes
6.6
1.1
(16.7)
(19.9)
14.0
2.3
(32.9)
(23.9)
Other real estate (% change)
United States (S&P / Case–Shiller)
7.8
(4.5)
(12.8)
(19.3)
19.1
(0.6)
(35.8)
(32.7)
Eurozone (House Price Index)
7.0
(2.7)
(8.4)
(8.9)
15.4
2.0
(14.7)
(17.5)
Disclosure Of Credit Risk Exposure Movement Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Development of ECL allowances and
 
provisions
USD m
Total
Stage 1
Stage 2
Stage 3
PCI
Balance as of 31 December 2022
(1,091)
(259)
(267)
(564)
0
Acquisition of Credit Suisse AG portfolios
(541)
(541)
0
0
0
Net movement from new and derecognized transactions
1
14
(2)
9
7
0
of which: Private clients with mortgages
(4)
(7)
3
0
0
of which: Real estate financing
1
(2)
3
0
0
of which: Large corporate clients
18
8
3
7
0
of which: SME clients
(2)
(2)
0
0
0
of which: Other
1
1
0
0
0
 
of which: Financial intermediaries and hedge funds
(1)
(1)
0
0
0
 
of which: Loans to financial advisors
0
0
0
0
0
Remeasurements with stage transfers
2
(507)
42
(149)
(400)
0
of which: Private clients with mortgages
(12)
2
(3)
(12)
0
of which: Real estate financing
(35)
8
(27)
(16)
0
of which: Large corporate clients
(223)
17
(21)
(220)
0
of which: SME clients
(167)
6
(59)
(115)
0
of which: Other
(69)
8
(39)
(38)
0
 
of which: Financial intermediaries and hedge funds
1
0
0
0
0
 
of which: Loans to financial advisors
1
2
(1)
0
0
Remeasurements without stage transfers
3
17
58
12
14
(67)
of which: Private clients with mortgages
3
1
16
(3)
(11)
of which: Real estate financing
(1)
5
3
(1)
(9)
of which: Large corporate clients
(42)
(18)
(1)
(8)
(16)
of which: SME clients
65
31
1
44
(11)
of which: Other
(7)
39
(8)
(18)
(20)
 
of which: Sovereign
(37)
0
(15)
0
(22)
 
of which: Loans to financial advisors
(7)
1
0
(8)
0
Model changes
4
(22)
(14)
(8)
0
0
Movements with profit or loss impact
5
(1,037)
(457)
(136)
(378)
(67)
Movements without profit or loss impact (write-off, FX and other)
6
(132)
17
(13)
(50)
(86)
Balance as of 31 December 2023
(2,261)
(700)
(416)
(993)
(153)
1 Represents the
 
increase and decrease
 
in allowances and
 
provisions resulting from
 
financial instruments (including
 
guarantees and facilities)
 
that were newly
 
originated, purchased or
 
renewed and from
 
the final
derecognition of loans
 
or facilities on
 
their maturity
 
date or earlier.
 
2 Represents the
 
remeasurement between 12-month
 
and lifetime ECL
 
due to stage
 
transfers.
 
3 Represents the
 
change in allowances
 
and
provisions related to changes in model inputs or assumptions, including changes in forward-looking macroeconomic conditions, changes in the exposure
 
profile, PD and LGD changes, and unwinding of the time value.
 
4 Represents the change in the allowances and provisions related to changes in
 
models and methodologies.
 
5 Includes ECL movements from new and derecognized transactions, remeasurement changes, and model
and methodology changes.
 
6 Represents the decrease in allowances and
 
provisions resulting from write-offs of the ECL allowance
 
against the gross carrying amount when all or
 
part of a financial asset is deemed
uncollectible or forgiven and movements in foreign exchange rates.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Development of ECL allowances and
 
provisions
USD m
Total
Stage 1
Stage 2
Stage 3
Balance as of 31 December 2021
(1,165)
(282)
(220)
(662)
Net movement from new and derecognized transactions
1
(7)
(21)
16
(2)
of which: Private clients with mortgages
(6)
(6)
0
0
of which: Real estate financing
(3)
(5)
2
0
of which: Large corporate clients
8
(1)
11
(2)
of which: SME clients
(1)
(1)
0
0
of which: Other
(6)
(8)
3
0
 
of which: Financial intermediaries and hedge funds
0
(2)
2
0
 
of which: Loans to financial advisors
0
0
0
0
Remeasurements with stage transfers
2
(65)
20
(39)
(46)
of which: Private clients with mortgages
(10)
3
(12)
0
of which: Real estate financing
7
(1)
8
0
of which: Large corporate clients
(33)
16
(28)
(21)
of which: SME clients
(23)
2
(2)
(22)
of which: Other
(6)
1
(4)
(3)
 
of which: Financial intermediaries and hedge funds
0
0
0
0
 
of which: Loans to financial advisors
1
2
(1)
0
Remeasurements without stage transfers
3
13
(8)
(27)
48
of which: Private clients with mortgages
(12)
5
(18)
1
of which: Real estate financing
13
3
10
0
of which: Large corporate clients
32
(11)
2
41
of which: SME clients
(6)
(10)
(9)
14
of which: Other
(15)
5
(12)
(8)
 
of which: Sovereigns
(8)
0
(8)
0
 
of which: Loans to financial advisors
(3)
3
(1)
(6)
Model changes
4
30
29
1
0
Movements with profit or loss impact
5
(29)
20
(49)
0
Movements without profit or loss impact (write-off, FX and other)
6
104
3
1
99
Balance as of 31 December 2022
(1,091)
(259)
(267)
(564)
1 Represents the
 
increase and decrease
 
in allowances
 
and provisions resulting
 
from financial instruments
 
(including guarantees and
 
facilities) that were
 
newly originated, purchased
 
or renewed and
 
from the final
derecognition of loans or facilities on
 
their maturity date or earlier.
 
2 Represents the remeasurement between 12-month and lifetime
 
ECL due to stage transfers.
 
3 Represents the change in allowances and provisions
related to
 
changes in
 
model inputs
 
or assumptions,
 
including changes
 
in forward-looking
 
macroeconomic
 
conditions,
 
changes in
 
the exposure
 
profile,
 
PD and
 
LGD changes,
 
and unwinding
 
of the
 
time value.
 
4 Represents the change in the allowances and provisions related to changes in models and methodologies.
 
5 Includes ECL movements from new and derecognized transactions, remeasurement changes, and model
and methodology changes.
 
6 Represents the decrease in allowances
 
and provisions resulting from write-offs
 
of the ECL allowance against
 
the gross carrying amount when all
 
or part of a financial asset
 
is deemed
uncollectible or forgiven and movements in foreign exchange rates.
Disclosure Of Credit Risk Exposure Categories Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ECL stage 2 (“significant deterioration
 
in credit risk”) allowances / provisions as of 31 December
 
2023 – classification by trigger
USD m
Stage 2
of which:
PD layer
of which:
watch list
of which:
≥30 days
past due
On- and off-balance sheet
(416)
(221)
(123)
(71)
of which: Private clients with mortgages
(97)
(69)
(5)
(22)
of which: Real estate financing
(35)
(23)
(2)
(10)
of which: Large corporate clients
(133)
(54)
(77)
(2)
of which: SME clients
(60)
(27)
(24)
(10)
of which: Lombard
(11)
0
(11)
0
of which: Financial intermediaries and hedge funds
(5)
(4)
0
(1)
of which: Loans to financial advisors
(1)
0
0
(1)
of which: Credit cards
(13)
0
0
(13)
of which: Consumer financing
(19)
(9)
0
(11)
of which: Commodity trade finance
(1)
0
(1)
0
of which: Other
(40)
(36)
(4)
(1)
Disclosure Of Maximum Exposure To Credit Risk Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maximum exposure to credit risk
31.12.23
Collateral
1,2
Credit enhancements
1
Exposure to
credit risk
after collateral
and credit
enhancements
USD bn
Maximum
exposure to
credit risk
Cash
collateral
received
Collateralized
by equity
and debt
instruments
Secured by
real estate
Other
collateral
3
Netting
Credit
derivative
contracts
Guarantees
and sub-
participations
Financial assets measured at
amortized cost on the balance sheet
Cash and balances at central banks
314.1
314.1
Amounts due from banks
4
21.2
0.0
0.2
0.2
0.3
20.5
Receivables from securities financing transactions
measured at amortized cost
99.0
0.0
95.6
2.8
0.7
Cash collateral receivables on derivative instruments
5,6
50.1
32.9
17.2
Loans and advances to customers
639.8
40.2
131.9
372.9
38.9
0.0
11.9
44.1
Other financial assets measured at amortized cost
65.5
0.1
0.8
0.1
5.7
58.8
Total financial assets measured at amortized cost
1,189.8
40.4
228.5
373.0
47.5
32.9
0.0
12.1
455.4
Financial assets measured at fair value
through other comprehensive income – debt
2.2
2.2
Total maximum exposure to credit risk
reflected on the balance sheet within the scope of ECL
1,192.0
40.4
228.5
373.0
47.5
32.9
0.0
12.1
457.6
of which: Credit Suisse
7
443.4
12.7
51.6
150.2
18.4
10.1
0.0
9.3
191.1
Guarantees
8
46.1
2.9
21.4
0.3
3.4
0.1
4.6
13.3
Irrevocable loan commitments
91.5
0.5
3.2
2.2
17.1
0.4
5.9
62.3
Forward starting reverse repurchase and securities
borrowing agreements
18.4
18.4
0.0
Committed unconditionally revocable credit lines
163.2
20.3
58.5
17.6
6.2
4.4
56.2
Total maximum exposure to credit risk not
reflected on the balance sheet within the scope of ECL
319.2
23.7
101.6
20.1
26.6
0.0
0.5
14.8
131.8
of which: Credit Suisse
7
186.9
21.4
60.3
11.1
10.9
0.0
0.5
11.3
71.5
31.12.22
Collateral
1,2
Credit enhancements
1
Exposure to
credit risk
after collateral
and credit
enhancements
USD bn
Maximum
exposure to
credit risk
Cash
collateral
received
Collateralized
by equity
and debt
instruments
Secured by
real estate
Other
collateral
3
Netting
Credit
derivative
contracts
Guarantees
and sub-
participations
Financial assets measured at
amortized cost on the balance sheet
Cash and balances at central banks
169.4
169.4
Amounts due from banks
4
14.8
0.0
0.1
14.7
Receivables from securities financing transactions
measured at amortized cost
67.8
0.0
64.5
2.4
0.9
Cash collateral receivables on derivative instruments
5,6
35.0
22.9
12.1
Loans and advances to customers
387.2
33.6
115.9
197.8
19.6
3.0
17.3
Other financial assets measured at amortized cost
53.3
0.1
0.5
0.0
1.3
51.3
Total financial assets measured at amortized cost
727.6
33.7
181.0
197.9
23.4
22.9
0.0
3.0
265.8
Financial assets measured at fair value
through other comprehensive income – debt
2.2
2.2
Total maximum exposure to credit risk
reflected on the balance sheet within the scope of ECL
729.8
33.7
181.0
197.9
23.4
22.9
0.0
3.0
268.0
Guarantees
8
22.1
1.2
9.3
0.1
2.0
1.8
7.7
Irrevocable loan commitments
39.9
0.2
3.1
1.3
6.5
0.1
1.0
27.8
Forward starting reverse repurchase and securities
borrowing agreements
3.8
3.8
0.0
Committed unconditionally revocable credit lines
41.4
0.2
8.2
6.0
6.2
0.5
20.2
Total maximum exposure to credit risk not
reflected on the balance sheet within the scope of ECL
107.2
1.6
24.4
7.5
14.7
0.0
0.1
3.3
55.7
1 Of which: USD
3,824
m for 31 December 2023
 
(31 December 2022: USD
1,372
m) relates to total credit-impaired
 
financial assets measured at amortized
 
cost and USD
237
m for 31 December 2023
 
(31 December
2022: USD
113
m) to total off-balance sheet financial instruments and
 
credit lines for credit-impaired positions.
 
2 Collateral arrangements generally incorporate
 
a range of collateral, including cash, equity
 
and debt
instruments, real estate and other
 
collateral. For the purpose
 
of this disclosure, UBS applies
 
a risk-based approach that generally
 
prioritizes collateral according to its
 
liquidity profile. In the case
 
of loan facilities with
funded and unfunded elements, the collateral is first allocated to the funded element. Credit Suisse applies a risk-based approach that generally prioritizes real estate collateral and prioritizes other collateral according
to its liquidity profile. In the case of loan facilities with funded and
 
unfunded elements, the collateral is proportionally allocated.
 
3 Includes but is not limited to life insurance contracts, rights in respect of subscription
or capital commitments from fund partners, leasing
 
items, mortgage loans, inventory,
 
gold and other commodities.
 
4 Amounts due from banks include amounts held
 
with third-party banks on behalf of clients.
 
The
credit risk associated with these balances may be borne by those clients.
 
5 Included within Cash collateral receivables on derivative instruments are
 
margin balances due from exchanges or clearing houses. Some of
these margin balances
 
reflect amounts transferred
 
on behalf of
 
clients who retain
 
the associated credit
 
risk.
 
6 The amount shown
 
in the “Netting”
 
column represents the netting
 
potential not recognized
 
on the
balance sheet. Refer to Note 22 for more information.
 
7 Refer to Note 2 for more information about the
 
acquisition of the Credit Suisse Group.
 
8 Guarantees collateralized by equity and debt
 
instruments include
certain overnight repurchase
 
and reverse
 
repurchase transactions
 
where UBS
 
acts as
 
a sponsoring
 
member for
 
eligible clients
 
when clearing
 
through the
 
Fixed Income Clearing
 
Corporation (FICC).
 
As part
 
of this
arrangement, UBS guarantees
 
FICC for prompt and
 
full payment and performance
 
of the clients‘ respective
 
obligations under the
 
FICC rules. The
 
Group minimizes its liability
 
under these guarantees
 
by obtaining a
security interest in the cash or high-quality securities collateral that the clients place with the clearing house; therefore,
 
the risk of loss is expected to be remote.
Disclosure Of Internal Credit Exposures Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial assets subject to credit risk by rating
 
category
USD m
31.12.23
Rating category
1
0–1
2–3
4–5
6–8
9–13
Credit-
impaired
(defaulted)
Total gross
carrying
amount
ECL
allowances
Net carrying
amount
(maximum
exposure to
credit risk)
Financial assets measured at amortized cost
Cash and balances at central banks
251,462
61,936
627
0
43
128
314,197
(48)
314,148
of which: stage 1
251,462
61,936
627
0
0
0
314,025
0
314,025
of which: stage 2
0
0
0
0
43
0
43
(26)
18
of which: PCI
0
0
0
0
0
128
128
(22)
106
Amounts due from banks
1,081
15,454
2,215
1,589
792
43
21,174
(12)
21,161
of which: stage 1
1,081
15,453
2,210
1,589
780
0
21,113
(6)
21,107
of which: stage 2
0
0
5
0
12
0
18
(1)
17
of which: PCI
0
0
0
0
0
43
43
(5)
38
Receivables from securities financing transactions
45,838
30,171
6,397
15,544
1,091
0
99,041
(2)
99,039
of which: stage 1
45,838
30,171
6,397
15,544
1,091
0
99,041
(2)
99,039
Cash collateral receivables on derivative instruments
8,009
30,334
6,425
5,117
198
0
50,082
0
50,082
of which: stage 1
8,009
30,334
6,425
5,117
198
0
50,082
0
50,082
Loans and advances to customers
6,428
288,117
180,889
119,191
41,557
5,360
641,542
(1,698)
639,844
of which: stage 1
6,428
286,683
178,059
109,996
30,276
0
611,443
(423)
611,019
of which: stage 2
0
1,428
2,829
9,171
11,269
0
24,697
(289)
24,408
of which: stage 3
0
0
0
0
0
3,731
3,731
(862)
2,869
of which: PCI
0
6
0
24
12
1,629
1,671
(123)
1,548
Other financial assets measured at amortized cost
25,755
25,875
2,875
9,662
1,163
318
65,648
(151)
65,498
of which: stage 1
25,755
25,788
2,854
9,113
841
1
64,352
(41)
64,311
of which: stage 2
0
87
21
548
321
0
978
(10)
968
of which: stage 3
0
0
0
0
0
253
253
(94)
158
of which: PCI
0
0
0
0
1
64
66
(5)
61
Total financial assets measured at amortized cost
338,572
451,886
199,428
151,103
44,844
5,849
1,191,683
(1,911)
1,189,773
On-balance sheet financial instruments
Financial assets measured at FVOCI – debt instruments
1,222
850
0
161
0
0
2,233
0
2,233
Total on-balance sheet financial instruments
339,794
452,736
199,428
151,264
44,844
5,849
1,193,916
(1,911)
1,192,006
1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and
 
control” section of this report for more information on rating categories.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial assets subject to credit risk by rating
 
category
USD m
31.12.22
Rating category
1
0–1
2–3
4–5
6–8
9–13
Credit-
impaired
(defaulted)
Total gross
carrying
amount
ECL
allowances
Net carrying
amount
(maximum
exposure to
credit risk)
Financial assets measured at amortized cost
Cash and balances at central banks
168,525
877
0
0
56
0
169,457
(12)
169,445
of which: stage 1
168,525
877
0
0
0
0
169,402
0
169,402
of which: stage 2
0
0
0
0
56
0
56
(12)
44
Amounts due from banks
862
12,257
860
440
379
0
14,798
(6)
14,792
of which: stage 1
862
12,257
860
440
378
0
14,797
(5)
14,792
of which: stage 2
0
0
0
0
1
0
1
(1)
1
of which: stage 3
0
0
0
0
0
0
0
0
0
Receivables from securities financing transactions
measured at amortized cost
27,158
15,860
8,870
15,207
721
0
67,816
(2)
67,814
of which: stage 1
27,158
15,860
8,870
15,207
721
0
67,816
(2)
67,814
Cash collateral receivables on derivative instruments
10,613
12,977
7,138
4,157
147
0
35,033
0
35,032
of which: stage 1
10,613
12,977
7,138
4,157
147
0
35,033
0
35,032
Loans and advances to customers
6,491
214,473
68,356
74,732
21,939
2,012
388,003
(783)
387,220
of which: stage 1
6,491
212,980
66,114
68,034
16,605
0
370,224
(129)
370,095
of which: stage 2
0
1,493
2,242
6,698
5,334
0
15,767
(180)
15,587
of which: stage 3
0
0
0
0
0
2,012
2,012
(474)
1,538
Other financial assets measured at amortized cost
29,011
16,632
447
6,600
450
210
53,350
(86)
53,264
of which: stage 1
29,011
16,630
427
6,317
336
0
52,721
(17)
52,704
of which: stage 2
0
2
20
283
114
0
419
(6)
413
of which: stage 3
0
0
0
0
0
210
210
(63)
147
Total financial assets measured at amortized cost
242,660
273,076
85,671
101,136
23,693
2,222
728,457
(889)
727,568
On-balance sheet financial instruments
Financial assets measured at FVOCI – debt instruments
1,307
840
0
92
0
0
2,239
0
2,239
Total on-balance sheet financial instruments
243,966
273,916
85,671
101,228
23,693
2,222
730,696
(889)
729,807
1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and
 
control” section of this report for more information on rating categories.
Disclosure Of Off Balance Sheet Positions By Rating Category Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Off-balance sheet positions subject to expected
 
credit loss by rating category
USD m
31.12.23
Rating category
1
0–1
2–3
4–5
6–8
9–13
Credit-
impaired
(defaulted)
Total carrying
amount
(maximum
exposure to
credit risk)
ECL provision
Off-balance sheet financial instruments
Guarantees
17,805
10,961
9,421
5,916
1,882
207
46,191
(73)
of which: stage 1
17,805
10,922
9,310
5,054
1,398
0
44,487
(28)
of which: stage 2
0
39
111
861
484
0
1,495
(22)
of which: stage 3
0
0
0
0
0
151
151
(23)
of which: PCI
0
0
0
1
1
56
58
0
Irrevocable loan commitments
1,722
31,936
24,050
19,661
14,006
266
91,643
(178)
of which: stage 1
1,722
31,936
23,989
19,079
10,354
0
87,080
(117)
of which: stage 2
0
0
62
583
3,652
0
4,297
(51)
of which: stage 3
0
0
0
0
0
218
218
(14)
of which: PCI
0
0
0
0
0
48
48
4
Forward starting reverse repurchase and securities borrowing agreements
10,152
2
84
8,206
0
0
18,444
0
Total off-balance sheet financial instruments
29,679
42,899
33,554
33,783
15,888
473
156,278
(251)
Credit lines
Committed unconditionally revocable credit lines
2,659
108,395
28,669
17,739
5,648
146
163,256
(95)
of which: stage 1
2,659
107,992
28,188
16,921
4,696
0
160,456
(78)
of which: stage 2
0
403
481
818
952
0
2,654
(17)
of which: stage 3
0
0
0
0
0
146
146
0
Irrevocable committed prolongation of existing loans
4
1,803
1,045
1,251
501
4
4,608
(4)
of which: stage 1
4
1,803
1,045
1,249
493
0
4,593
(4)
of which: stage 2
0
0
0
2
9
0
11
0
of which: stage 3
0
0
0
0
0
4
4
0
Total credit lines
2,663
110,197
29,714
18,990
6,149
150
167,864
(99)
1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and
 
control” section of this report for more information on rating categories.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Off-balance sheet positions subject to expected
 
credit loss by rating category
USD m
31.12.22
Rating category
1
0–1
2–3
4–5
6–8
9–13
Credit-
impaired
(defaulted)
Total off-
balance sheet
exposure
(maximum
exposure to
credit risk)
ECL provisions
Off-balance sheet financial instruments
Guarantees
7,252
5,961
4,772
3,049
1,025
108
22,167
(48)
of which: stage 1
7,252
5,917
3,812
2,229
596
0
19,805
(13)
of which: stage 2
0
44
960
821
429
0
2,254
(9)
of which: stage 3
0
0
0
0
0
108
108
(26)
Irrevocable loan commitments
1,770
14,912
6,986
10,097
6,107
124
39,996
(111)
of which: stage 1
1,770
14,789
6,818
9,625
4,529
0
37,531
(59)
of which: stage 2
0
123
168
472
1,578
0
2,341
(52)
of which: stage 3
0
0
0
0
0
124
124
0
Forward starting reverse repurchase and securities borrowing agreements
2,781
2
11
1,007
0
0
3,801
0
Total off-balance sheet financial instruments
11,803
20,874
11,769
14,153
7,132
233
65,964
(159)
Credit lines
Committed unconditionally revocable credit lines
2,288
15,918
9,247
10,162
3,739
36
41,390
(40)
of which: stage 1
2,288
15,213
8,960
9,631
3,429
0
39,521
(32)
of which: stage 2
0
705
287
531
310
0
1,833
(8)
of which: stage 3
0
0
0
0
0
36
36
0
Irrevocable committed prolongation of existing loans
7
1,939
1,489
868
392
2
4,696
(2)
of which: stage 1
7
1,938
1,411
864
380
0
4,600
(2)
of which: stage 2
0
1
78
4
11
0
94
0
of which: stage 3
0
0
0
0
0
2
2
0
Total credit lines
2,295
17,857
10,736
11,030
4,131
37
46,086
(42)
1 Refer to the “Internal UBS rating scale and mapping of external ratings” table in the “Risk management and
 
control” section of this report for more information on rating categories.
Scenario Sensitivity Analysis Calculation Change Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Potential effect on stage 1 and stage 2 positions
 
from changing key parameters as of 31 December
 
2023
USD m
100% Baseline
100%
Stagflationary
geopolitical crisis
100% Mild debt
crisis
Weighted average
Change in key parameters
Fixed income: Government bonds (absolute change)
–0.50%
(7)
(164)
(7)
(21)
+0.50%
8
186
10
25
+1.00%
17
396
23
59
Unemployment rate (absolute change)
–1.00%
(6)
(144)
(8)
(22)
–0.50%
(3)
(77)
(4)
(12)
+0.50%
3
90
4
14
+1.00%
7
189
8
28
Real GDP growth (relative change)
–2.00%
49
84
73
58
–1.00%
25
40
36
30
+1.00%
(20)
(37)
(35)
(26)
+2.00%
(39)
(71)
(63)
(50)
House Price Index (relative change)
–5.00%
17
249
25
53
–2.50%
8
120
12
24
+2.50%
(7)
(105)
(9)
(20)
+5.00%
(11)
(204)
(19)
(38)
Equity (S&P500, EuroStoxx, SMI) (relative change)
–10.00%
4
10
8
6
–5.00%
2
5
3
2
+5.00%
(2)
(5)
(3)
(2)
+10.00%
(3)
(8)
(5)
(4)
Scenario Sensitivity Analysis Explanatory
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Potential effect on stage 1 and stage 2 positions
 
from changing scenario weights or moving
 
to an ECL lifetime calculation as of 31 December
 
2023
Actual ECL allowances
and provisions,
including staging (as
per Note 10)
 
Pro forma ECL allowances and provisions, including staging
 
and assuming application of 100% scenario weighting
 
Pro forma ECL
allowances and
provisions, assuming
all positions being
subject to lifetime ECL
Scenarios
Weighted average
100% Baseline
100% Stagflationary
geopolitical crisis
100% Mild debt crisis
Weighted average
USD m, except where indicated
Segmentation
Private clients with mortgages
(161)
(66)
(816)
(81)
(409)
Real estate financing
(88)
(53)
(293)
(49)
(196)
Large corporate clients
(368)
(282)
(533)
(419)
(645)
SME clients
(188)
(158)
(274)
(226)
(296)
Ship financing
(48)
(46)
(50)
(49)
(125)
Consumer financing / credit cards
(74)
(71)
(81)
(75)
(186)
Other segments
(189)
(157)
(269)
(197)
(368)
Total
(1,115)
(832)
(2,317)
(1,095)
(2,225)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Potential effect on stage 1 and stage 2 positions
 
from changing scenario weights or moving
 
to an ECL lifetime calculation as of 31 December
 
2022
Actual ECL
allowances and
provisions,
including staging
(as per Note 9)
 
Pro forma ECL allowances and provisions, including staging
 
and assuming application of 100% scenario weighting
 
Pro forma ECL
allowances and
provisions,
assuming all
positions being
subject to lifetime
ECL
Scenarios
Weighted average
100% Baseline
100% Asset price
inflation
100%
Stagflationary
geopolitical crisis
100% Global crisis
Weighted average
USD m, except where indicated
Segmentation
Private clients with mortgages
(136)
(25)
(13)
(523)
(184)
(473)
Real estate financing
(43)
(26)
(22)
(176)
(30)
(126)
Large corporate clients
(136)
(97)
(84)
(199)
(174)
(235)
SME clients
(86)
(67)
(66)
(162)
(97)
(153)
Other segments
(125)
(114)
(111)
(145)
(153)
(281)
Total
(526)
(329)
(295)
(1,204)
(638)
(1,267)