Derivative instruments	6 Months Ended
Derivative instruments	Jun. 30, 2024
Disclosure Of Derivative Financial Instruments [Line Items]
Disclosure Of Derivative Financial Instruments Explanatory	Note 11 Derivative instruments a) Derivative instruments As of 30.6.24, USD bn Derivative financial assets Derivative financial liabilities Notional values related to derivative financial assets and liabilities 1 Other notional values 2 Derivative financial instruments Interest rate 48.8 47.3 3,472 20,200 Credit derivatives 3.0 3.8 170 Foreign exchange 51.0 52.0 7,148 213 Equity / index 33.4 41.4 1,432 96 Commodities 2.6 2.0 153 18 Other 3 0.8 2.6 151 Total derivative financial instruments, based on netting under IFRS Accounting Standards 4 139.6 149.1 12,526 20,526 Further netting potential not recognized on the balance sheet 5 (124.4) (132.4) of which: netting of recognized financial liabilities / assets (101.3) (101.3) of which: netting with collateral received / pledged (23.1) (31.1) Total derivative financial instruments, after consideration of further netting potential 15.2 16.7 As of 31.3.24, USD bn Derivative financial instruments Interest rate 52.5 50.3 3,469 21,010 Credit derivatives 3.0 3.7 206 Foreign exchange 62.0 59.1 7,014 224 Equity / index 37.7 45.8 1,439 92 Commodities 3.0 2.6 152 20 Other 3 1.0 1.5 182 Total derivative financial instruments, based on netting under IFRS Accounting Standards 4 159.2 163.0 12,461 21,346 Further netting potential not recognized on the balance sheet 5 (141.5) (147.9) of which: netting of recognized financial liabilities / assets (115.7) (115.7) of which: netting with collateral received / pledged (25.8) (32.1) Total derivative financial instruments, after consideration of further netting potential 17.7 15.2 As of 31.12.23, USD bn Derivative financial instruments Interest rate 55.6 52.9 3,524 20,074 Credit derivatives 4.0 4.7 275 Foreign exchange 78.7 89.9 6,913 180 Equity / index 35.5 41.4 1,397 95 Commodities 2.0 1.6 143 16 Other 3 0.4 1.6 117 Total derivative financial instruments, based on netting under IFRS Accounting Standards 4 176.1 192.2 12,369 20,366 Further netting potential not recognized on the balance sheet 5 (162.8) 167.9 of which: netting of recognized financial liabilities / assets (133.0) (133.0) of which: netting with collateral received / pledged (29.8) (35.0) Total derivative financial instruments, after consideration of further netting potential 13.3 24.2 1 In cases where derivative financial instruments are presented on a net basis on the balance sheet, the respective notional values of the netted derivative financial instruments are still presented on a gross basis. Notional amounts of client-cleared ETD and OTC transacti ons through central clearing counterparties are not disclosed, as they have a significantly different risk profile. 2 Other notional values 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 all periods presented. 3 Includes 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. The balance as of 30 June 2024 also includes UBS’s funding obligation arising from the offer by the Credit Suisse supply chain finance funds to redeem the outstanding units which was accounted for as a derivative liability (refer to note 15). 4 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 UBS or its counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 5 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 22 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the UBS Group Annual Report 2023 for more information. b) Cash collateral on derivative instruments USD bn Receivables 30.6.24 Payables 30.6.24 Receivables 31.3.24 Payables 31.3.24 Receivables 31.12.23 Payables 31.12.23 Cash collateral on derivative instruments, based on netting under IFRS Accounting Standards 1 43.6 32.8 46.7 37.3 50.1 41.6 Further netting potential not recognized on the balance sheet 2 (27.2) (19.0) (28.8) (22.6) (32.9) (26.4) of which: netting of recognized financial liabilities / assets (24.6) (16.5) (26.0) (19.8) (29.7) (23.2) of which: netting with collateral received / pledged (2.5) (2.5) (2.8) (2.8) (3.2) (3.2) Cash collateral on derivative instruments, after consideration of further netting potential 16.5 13.8 17.9 14.7 17.2 15.2 1 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 UBS or its counterparties, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. 2 Reflects the netting potential in accordance with enforceable master netting and similar arrangements where not all criteria for a net presentation on the balance sheet have been met. Refer to “Note 22 Offsetting financial assets and financial liabilities” in the “Consolidated financial statements” section of the UBS Group Annual Report 2023 for more information.