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Other financial and non-financial assets
 12 Months Ended
Dec. 31, 2024
Other Financial And Non Financial Assets [Line Items]  
Other Financial And Non Financial Assets Explanatory [textblock]
Note 14
 
Other assets
a) Other financial assets measured at amortized cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
USD m
31.12.24
31.12.23
1
Debt securities
41,585
45,057
Loans to financial advisors
2,723
2,615
Fee- and commission-related receivables
2,242
2,576
Finance lease receivables
5,879
6,288
Settlement and clearing accounts
 
430
338
Accrued interest income
2,115
3,163
Other
2
3,862
5,418
Total other financial assets measured at amortized cost
58,835
65,455
1 Comparative-period information has
 
been revised. Refer to
 
Note 2 for more information.
 
2 Predominantly includes cash collateral
 
provided to exchanges and
 
clearing houses to secure securities
 
trading activity
through those counterparties.
Effective 1
 
April 2022, UBS
 
reclassified a
 
portfolio of HQLA
 
financial assets from
Financial assets measured
 
at fair value
through other comprehensive income
 
with a fair value of USD
6.9
bn (the Portfolio) to
Other financial assets measured at
amortized cost
.
The Portfolio’s cumulative fair value losses of USD
449
m pre-tax and USD
333
m post-tax, previously recognized in Other
comprehensive income,
 
were removed
 
from equity
 
and adjusted
 
against the
 
value of
 
the assets
 
on the
 
reclassification
date, so
 
that the
 
Portfolio was
 
measured as
 
if the
 
assets had
 
always been
 
classified at
 
amortized cost,
 
with a
 
value of
USD
7.4
bn as
 
on 1
 
April 2022.
 
The reclassification
 
has had
 
no effect
 
on the
 
income statement. At
 
the time,
 
the accounting
reclassification
 
arose
 
as
 
a
 
direct
 
result
 
of
 
the
 
planned
 
transformation
 
of
 
UBS’s
 
Global
 
Wealth
 
Management
 
Americas
business, involving significant growth
 
and extension of
 
the business, generating substantial
 
cash balances, with
 
a number
of new saving and deposit products being launched that are longer in duration. Additional lending, and a broader range
of customer
 
segments were
 
targeted. As
 
a consequence,
 
the Portfolio
 
is no
 
longer held
 
in a
 
business model
 
to collect
the contractual
 
cash flows
 
and sell
 
the assets
 
but
 
is instead
 
solely held
 
to collect
 
the contractual
 
cash flows
 
until the
assets mature, requiring a reclassification of the Portfolio
 
in line with IFRS 9 with effect from 1 April 2022.
b) Other non-financial assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
USD m
31.12.24
31.12.23
Precious metals and other physical commodities
 
7,341
5,930
Deposits and collateral provided in connection with litigation,
 
regulatory and similar matters
1
1,946
2,726
Prepaid expenses
1,679
2,080
Current tax assets
 
1,546
1,456
VAT,
 
withholding tax and other tax receivables
1,233
1,327
Properties and other non-current assets held for sale
196
188
Assets of disposal groups held for sale
2
1,705
Other
2,119
2,342
Total other non-financial assets
17,766
16,049
1 Refer to Note 18 for more information.
 
2 Refer to Note 29 for more information about the agreement to sell Select Portfolio
 
Servicing.