Restricted financial assets	12 Months Ended
Restricted financial assets	Dec. 31, 2024
Disclosure Restricted Financial Assets [Line Items]
Restricted financial assets	Note 23 Restricted and transferred financial assets This Note provides information about restricted financial assets (Note 23a), transfers of financial assets (Note 23b and 23c) and financial assets that are received as collateral with the right to resell or repledge these assets (Note 23d). a) Restricted financial assets Restricted financial assets consist of assets pledged as collateral against an existing liability or contingent liability and other assets that are otherwise explicitly restricted such that they cannot be used to secure funding. Financial assets pledged as collateral mainly include pledged mortgage loans, which serve as collateral for existing liabilities against loans from Swiss mortgage institutions and US Federal Home Loan Banks, and in connection with the issuance of covered bonds. Of these pledged mortgage loans, approximately USD 7.2 bn as of 31 December 2024 could be withdrawn or used as collateral for future liabilities, covered bond issuances or used for securities financing transactions backed by available retained covered bonds without breaching existing collateral requirements (31 December 2023: approximately USD 7.5 bn). Liabilities in relation to the Emergency Liquidity Assistance facility against the Swiss National Bank were fully repaid during the year (31 December 2023: USD 44.9 bn). Existing liabilities against Swiss central mortgage institutions and US Federal Home Loan Banks and for existing covered bond issuances were USD 48.4 bn as of 31 December 2024 (31 December 2023: USD 45.5 bn). Other financial assets are pledged as collateral in relation to securities lending transactions and in repurchase transactions, which are generally entered into under standard market agreements. For securities lending, the cash received as collateral may be more or less than the fair value of the securities loaned, depending on the nature of the transaction. For repurchase agreements, the fair value of the collateral sold under an agreement to repurchase is generally in excess of the cash borrowed. Other restricted financial assets include assets protected under client asset segregation rules, assets held under unit-linked investment contracts to back related liabilities to the policy holders and assets held in certain jurisdictions to comply with explicit minimum local asset maintenance requirements. The carrying amount of the liabilities associated with these other restricted financial assets is generally equal to the carrying amount of the assets, with the exception of assets held to comply with local asset maintenance requirements, for which the associated liabilities are greater. Restricted financial assets USD m 31.12.24 31.12.23 Restricted financial assets of which: assets pledged as collateral that may be sold or repledged by counterparties Restricted financial assets of which: assets pledged as collateral that may be sold or repledged by counterparties Financial assets pledged as collateral Cash and balances at central banks 1 876 1,041 Financial assets at fair value held for trading 71,050 38,532 83,689 51,263 Loans and advances to customers 70,342 127,362 Financial assets at fair value not held for trading 3,645 2,566 3,099 2,110 Debt securities classified as Other financial assets measured at amortized cost 8,703 7,891 7,561 6,299 Total financial assets pledged as collateral 154,616 222,752 Other restricted financial assets Amounts due from banks 2,570 2,874 Financial assets at fair value held for trading 264 184 Cash collateral receivables on derivative instruments 8,006 9,539 Loans and advances to customers 175 275 Other financial assets measured at amortized cost 2 4,186 4,724 Financial assets at fair value not held for trading 20,645 18,229 Financial assets measured at fair value through other comprehensive income 1,863 1,846 Other 128 354 Total other restricted financial assets 37,837 38,025 Total financial assets pledged and other restricted financial assets 3 192,453 260,777 1 Assets pledged to the depositor protection system in Switzerland. 2 Predominantly includes cash collateral provided to exchanges and clearing houses to secure securities trading activity through those counterparties. 3 Does not include assets placed with central banks related to undrawn credit lines and for payment, clearing and settlement purposes, as well as undrawn contingency funding facilities (31 December 2024: USD 30.5 bn; 31 December 2023: USD 26.5 bn). In addition to restrictions on financial assets, UBS Group AG and its subsidiaries are, in certain cases, subject to regulatory requirements that affect the transfer of dividends and capital within the Group, as well as intercompany lending. Supervisory authorities also may require entities to measure capital and leverage ratios on a stressed basis, such as the Federal Reserve Board’s Comprehensive Capital Analysis and Review (CCAR) process, which may limit the relevant subsidiaries’ ability to make distributions of capital based on the results of those tests. Supervisory authorities generally have discretion to impose higher requirements or to otherwise limit the activities of subsidiaries. Non-regulated subsidiaries are generally not subject to such requirements and transfer restrictions. However, restrictions can also be the result of different legal, regulatory, contractual, entity- or country-specific arrangements and / or requirements. › Refer to the “Financial and regulatory key figures for our significant regulated subsidiaries and sub-groups” section of this report for financial information about significant regulated subsidiaries of the Group