Offsetting of financial assets and financial liabilities (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Offsetting of derivatives |
Offsetting of derivatives
|
|
|
2021
|
|
2020
|
|
end of
|
|
Derivative
assets
|
|
Derivative
liabilities
|
|
Derivative
assets
|
|
Derivative
liabilities
|
|
|
Gross derivatives subject to enforceable master netting agreements (CHF billion)
|
|
OTC-cleared
|
|
4.4
|
|
4.0
|
|
6.1
|
|
4.6
|
|
|
OTC
|
|
44.4
|
|
40.3
|
|
68.2
|
|
65.7
|
|
|
Exchange-traded
|
|
0.1
|
|
0.0
|
|
0.5
|
|
0.6
|
|
|
Interest rate products
|
|
48.9
|
|
44.3
|
|
74.8
|
|
70.9
|
|
|
OTC-cleared
|
|
0.2
|
|
0.2
|
|
0.2
|
|
0.2
|
|
|
OTC
|
|
20.0
|
|
22.0
|
|
23.1
|
|
27.7
|
|
|
Foreign exchange products
|
|
20.2
|
|
22.2
|
|
23.3
|
|
27.9
|
|
|
OTC
|
|
8.2
|
|
13.0
|
|
10.7
|
|
15.1
|
|
|
Exchange-traded
|
|
22.7
|
|
21.4
|
|
19.9
|
|
20.4
|
|
|
Equity/index-related products
|
|
30.9
|
|
34.4
|
|
30.6
|
|
35.5
|
|
|
OTC-cleared
|
|
1.3
|
|
1.4
|
|
0.7
|
|
0.7
|
|
|
OTC
|
|
3.3
|
|
4.3
|
|
3.9
|
|
4.9
|
|
|
Credit derivatives
|
|
4.6
|
|
5.7
|
|
4.6
|
|
5.6
|
|
|
OTC
|
|
1.4
|
|
0.5
|
|
1.6
|
|
0.7
|
|
|
Exchange-traded
|
|
0.1
|
|
0.1
|
|
0.1
|
|
0.1
|
|
|
Other products 1
|
|
1.5
|
|
0.6
|
|
1.7
|
|
0.8
|
|
|
OTC-cleared
|
|
5.9
|
|
5.6
|
|
7.0
|
|
5.5
|
|
|
OTC
|
|
77.3
|
|
80.1
|
|
107.5
|
|
114.1
|
|
|
Exchange-traded
|
|
22.9
|
|
21.5
|
|
20.5
|
|
21.1
|
|
|
Total gross derivatives subject to enforceable master netting agreements
|
|
106.1
|
|
107.2
|
|
135.0
|
|
140.7
|
|
|
Offsetting (CHF billion)
|
|
OTC-cleared
|
|
(5.6)
|
|
(5.3)
|
|
(6.2)
|
|
(5.4)
|
|
|
OTC
|
|
(68.4)
|
|
(74.6)
|
|
(94.4)
|
|
(104.3)
|
|
|
Exchange-traded
|
|
(21.0)
|
|
(21.0)
|
|
(20.0)
|
|
(20.3)
|
|
|
Offsetting
|
|
(95.0)
|
|
(100.9)
|
|
(120.6)
|
|
(130.0)
|
|
|
of which counterparty netting
|
|
(83.0)
|
|
(83.0)
|
|
(103.2)
|
|
(103.2)
|
|
|
of which cash collateral netting
|
|
(12.0)
|
|
(17.9)
|
|
(17.4)
|
|
(26.8)
|
|
|
Net derivatives presented in the consolidated balance sheets (CHF billion)
|
|
OTC-cleared
|
|
0.3
|
|
0.3
|
|
0.8
|
|
0.1
|
|
|
OTC
|
|
8.9
|
|
5.5
|
|
13.1
|
|
9.8
|
|
|
Exchange-traded
|
|
1.9
|
|
0.5
|
|
0.5
|
|
0.8
|
|
|
Total net derivatives subject to enforceable master netting agreements
|
|
11.1
|
|
6.3
|
|
14.4
|
|
10.7
|
|
|
Total derivatives not subject to enforceable master netting agreements 2
|
|
6.7
|
|
4.3
|
|
11.2
|
|
6.8
|
|
|
Total net derivatives presented in the consolidated balance sheets
|
|
17.8
|
|
10.6
|
|
25.6
|
|
17.5
|
|
|
of which recorded in trading assets and trading liabilities
|
|
17.6
|
|
10.6
|
|
25.5
|
|
17.5
|
|
|
of which recorded in other assets and other liabilities
|
|
0.2
|
|
0.0
|
|
0.1
|
|
0.0
|
|
1
Primarily precious metals, commodity and energy products.
|
2
Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place.
|
|
| Offsetting of securities purchased under resale agreements and securities borrowing transactions |
Offsetting of securities purchased under resale agreements and securities borrowing transactions
|
|
|
2021
|
|
2020
|
|
end of
|
|
Gross
|
|
Offsetting
|
|
Net
book value
|
|
Gross
|
|
Offsetting
|
|
Net
book value
|
|
|
Securities purchased under resale agreements and securities borrowing transactions (CHF billion)
|
|
Securities purchased under resale agreements
|
|
74.1
|
|
(16.6)
|
|
57.5
|
|
55.8
|
|
(7.5)
|
|
48.3
|
|
|
Securities borrowing transactions
|
|
22.2
|
|
0.0
|
|
22.2
|
|
25.1
|
|
(0.4)
|
|
24.7
|
|
|
Total subject to enforceable master netting agreements
|
|
96.3
|
|
(16.6)
|
|
79.7
|
|
80.9
|
|
(7.9)
|
|
73.0
|
|
|
Total not subject to enforceable master netting agreements 1
|
|
24.2
|
|
–
|
|
24.2
|
|
19.3
|
|
–
|
|
19.3
|
|
|
Total
|
|
120.5
|
|
(16.6)
|
|
103.9
|
2
|
100.2
|
|
(7.9)
|
|
92.3
|
2
|
1
Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place.
|
2
CHF 68,623 million and CHF 57,994 million of the total net amount as of the end of 2021 and 2020, respectively, are reported at fair value.
|
|
| Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral |
Offsetting of securities sold under repurchase agreements and securities lending transactions
|
|
|
2021
|
|
2020
|
|
end of
|
|
Gross
|
|
Offsetting
|
|
Net
book value
|
|
Gross
|
|
Offsetting
|
|
Net
book value
|
|
|
Securities sold under repurchase agreements and securities lending transactions (CHF billion)
|
|
Securities sold under repurchase agreements
|
|
32.2
|
|
(16.6)
|
|
15.6
|
|
26.0
|
|
(7.9)
|
|
18.1
|
|
|
Securities lending transactions
|
|
15.4
|
|
0.0
|
|
15.4
|
|
16.6
|
|
0.0
|
|
16.6
|
|
|
Obligation to return securities received as collateral, at fair value
|
|
14.7
|
|
0.0
|
|
14.7
|
|
49.9
|
|
0.0
|
|
49.9
|
|
|
Total subject to enforceable master netting agreements
|
|
62.3
|
|
(16.6)
|
|
45.7
|
|
92.5
|
|
(7.9)
|
|
84.6
|
|
|
Total not subject to enforceable master netting agreements 1
|
|
4.6
|
|
–
|
|
4.6
|
|
3.1
|
|
–
|
|
3.1
|
|
|
Total
|
|
66.9
|
|
(16.6)
|
|
50.3
|
|
95.6
|
|
(7.9)
|
|
87.7
|
|
|
of which securities sold under repurchase agreements and securities lending transactions
|
|
51.9
|
|
(16.6)
|
|
35.3
|
2
|
44.8
|
|
(7.9)
|
|
36.9
|
2
|
|
of which obligation to return securities received as collateral, at fair value
|
|
15.0
|
|
0.0
|
|
15.0
|
|
50.8
|
|
0.0
|
|
50.8
|
|
1
Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place.
|
2
CHF 13,213 million and CHF 13,594 million of the total net amount as of the end of 2021 and 2020, respectively, are reported at fair value.
|
|
| Amounts not offset in the consolidated balance sheets |
Amounts not offset in the consolidated balance sheets
|
|
|
2021
|
|
2020
|
|
end of
|
|
Net
book value
|
|
Financial
instruments
|
1
|
Cash
collateral
received/
pledged
|
1
|
Net
exposure
|
|
Net
book value
|
|
Financial
instruments
|
1
|
Cash
collateral
received/
pledged
|
1
|
Net
exposure
|
|
|
Financial assets subject to enforceable master netting agreements (CHF billion)
|
|
Derivatives
|
|
11.1
|
|
4.5
|
|
0.0
|
|
6.6
|
|
14.4
|
|
5.5
|
|
0.1
|
|
8.8
|
|
|
Securities purchased under resale agreements
|
|
57.5
|
|
57.5
|
|
0.0
|
|
0.0
|
|
48.3
|
|
48.3
|
|
0.0
|
|
0.0
|
|
|
Securities borrowing transactions
|
|
22.2
|
|
21.9
|
|
0.0
|
|
0.3
|
|
24.7
|
|
24.3
|
|
0.0
|
|
0.4
|
|
|
Total financial assets subject to enforceable master netting agreements
|
|
90.8
|
|
83.9
|
|
0.0
|
|
6.9
|
|
87.4
|
|
78.1
|
|
0.1
|
|
9.2
|
|
|
Financial liabilities subject to enforceable master netting agreements (CHF billion)
|
|
Derivatives
|
|
6.3
|
|
1.3
|
|
0.0
|
|
5.0
|
|
10.7
|
|
2.2
|
|
0.0
|
|
8.5
|
|
|
Securities sold under repurchase agreements
|
|
15.6
|
|
15.5
|
|
0.1
|
|
0.0
|
|
18.1
|
|
18.1
|
|
0.0
|
|
0.0
|
|
|
Securities lending transactions
|
|
15.4
|
|
15.3
|
|
0.0
|
|
0.1
|
|
16.6
|
|
16.3
|
|
0.0
|
|
0.3
|
|
|
Obligation to return securities received as collateral, at fair value
|
|
14.7
|
|
13.0
|
|
0.0
|
|
1.7
|
|
49.9
|
|
43.4
|
|
0.0
|
|
6.5
|
|
|
Total financial liabilities subject to enforceable master netting agreements
|
|
52.0
|
|
45.1
|
|
0.1
|
|
6.8
|
|
95.3
|
|
80.0
|
|
0.0
|
|
15.3
|
|
1
The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included.
|
|
| Bank |
|
| Offsetting of derivatives |
Offsetting of derivatives
|
|
|
2021
|
|
2020
|
|
end of
|
|
Derivative
assets
|
|
Derivative
liabilities
|
|
Derivative
assets
|
|
Derivative
liabilities
|
|
|
Gross derivatives subject to enforceable master netting agreements (CHF billion)
|
|
OTC-cleared
|
|
4.4
|
|
4.0
|
|
6.1
|
|
4.6
|
|
|
OTC
|
|
44.5
|
|
40.3
|
|
68.2
|
|
65.7
|
|
|
Exchange-traded
|
|
0.1
|
|
0.0
|
|
0.5
|
|
0.6
|
|
|
Interest rate products
|
|
49.0
|
|
44.3
|
|
74.8
|
|
70.9
|
|
|
OTC-cleared
|
|
0.2
|
|
0.2
|
|
0.2
|
|
0.2
|
|
|
OTC
|
|
20.0
|
|
22.0
|
|
23.1
|
|
27.7
|
|
|
Foreign exchange products
|
|
20.2
|
|
22.2
|
|
23.3
|
|
27.9
|
|
|
OTC
|
|
8.2
|
|
13.0
|
|
10.7
|
|
15.1
|
|
|
Exchange-traded
|
|
22.7
|
|
21.4
|
|
19.9
|
|
20.4
|
|
|
Equity/index-related products
|
|
30.9
|
|
34.4
|
|
30.6
|
|
35.5
|
|
|
OTC-cleared
|
|
1.3
|
|
1.4
|
|
0.7
|
|
0.7
|
|
|
OTC
|
|
3.3
|
|
4.3
|
|
3.9
|
|
4.9
|
|
|
Credit derivatives
|
|
4.6
|
|
5.7
|
|
4.6
|
|
5.6
|
|
|
OTC
|
|
1.4
|
|
0.5
|
|
1.6
|
|
0.8
|
|
|
Exchange-traded
|
|
0.1
|
|
0.1
|
|
0.1
|
|
0.1
|
|
|
Other products 1
|
|
1.5
|
|
0.6
|
|
1.7
|
|
0.9
|
|
|
OTC-cleared
|
|
5.9
|
|
5.6
|
|
7.0
|
|
5.5
|
|
|
OTC
|
|
77.4
|
|
80.1
|
|
107.5
|
|
114.2
|
|
|
Exchange-traded
|
|
22.9
|
|
21.5
|
|
20.5
|
|
21.1
|
|
|
Total gross derivatives subject to enforceable master netting agreements
|
|
106.2
|
|
107.2
|
|
135.0
|
|
140.8
|
|
|
Offsetting (CHF billion)
|
|
OTC-cleared
|
|
(5.6)
|
|
(5.3)
|
|
(6.2)
|
|
(5.4)
|
|
|
OTC
|
|
(68.5)
|
|
(74.6)
|
|
(94.4)
|
|
(104.4)
|
|
|
Exchange-traded
|
|
(21.0)
|
|
(21.0)
|
|
(20.0)
|
|
(20.3)
|
|
|
Offsetting
|
|
(95.1)
|
|
(100.9)
|
|
(120.6)
|
|
(130.1)
|
|
|
of which counterparty netting
|
|
(83.0)
|
|
(83.0)
|
|
(103.2)
|
|
(103.2)
|
|
|
of which cash collateral netting
|
|
(12.1)
|
|
(17.9)
|
|
(17.4)
|
|
(26.9)
|
|
|
Net derivatives presented in the consolidated balance sheets (CHF billion)
|
|
OTC-cleared
|
|
0.3
|
|
0.3
|
|
0.8
|
|
0.1
|
|
|
OTC
|
|
8.9
|
|
5.5
|
|
13.1
|
|
9.8
|
|
|
Exchange-traded
|
|
1.9
|
|
0.5
|
|
0.5
|
|
0.8
|
|
|
Total net derivatives subject to enforceable master netting agreements
|
|
11.1
|
|
6.3
|
|
14.4
|
|
10.7
|
|
|
Total derivatives not subject to enforceable master netting agreements 2
|
|
6.7
|
|
4.3
|
|
11.2
|
|
6.8
|
|
|
Total net derivatives presented in the consolidated balance sheets
|
|
17.8
|
|
10.6
|
|
25.6
|
|
17.5
|
|
|
of which recorded in trading assets and trading liabilities
|
|
17.6
|
|
10.6
|
|
25.5
|
|
17.5
|
|
|
of which recorded in other assets and other liabilities
|
|
0.2
|
|
0.0
|
|
0.1
|
|
0.0
|
|
1
Primarily precious metals, commodity and energy products.
|
2
Represents derivatives where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place.
|
|
| Offsetting of securities purchased under resale agreements and securities borrowing transactions |
Offsetting of securities purchased under resale agreements and securities borrowing transactions
|
|
|
2021
|
|
2020
|
|
end of
|
|
Gross
|
|
Offsetting
|
|
Net
book value
|
|
Gross
|
|
Offsetting
|
|
Net
book value
|
|
|
Securities purchased under resale agreements and securities borrowing transactions (CHF billion)
|
|
Securities purchased under resale agreements
|
|
74.1
|
|
(16.6)
|
|
57.5
|
|
55.8
|
|
(7.5)
|
|
48.3
|
|
|
Securities borrowing transactions
|
|
22.2
|
|
0.0
|
|
22.2
|
|
25.1
|
|
(0.4)
|
|
24.7
|
|
|
Total subject to enforceable master netting agreements
|
|
96.3
|
|
(16.6)
|
|
79.7
|
|
80.9
|
|
(7.9)
|
|
73.0
|
|
|
Total not subject to enforceable master netting agreements 1
|
|
24.2
|
|
–
|
|
24.2
|
|
19.3
|
|
–
|
|
19.3
|
|
|
Total
|
|
120.5
|
|
(16.6)
|
|
103.9
|
2
|
100.2
|
|
(7.9)
|
|
92.3
|
2
|
1
Represents securities purchased under resale agreements and securities borrowing transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place.
|
2
CHF 68,623 million and CHF 57,994 million of the total net amount as of the end of 2021 and 2020, respectively, are reported at fair value.
|
|
| Offsetting of securities sold under repurchase agreements, securities lending transactions and obligation to return securities received as collateral |
Offsetting of securities sold under repurchase agreements and securities lending transactions
|
|
|
2021
|
|
2020
|
|
end of
|
|
Gross
|
|
Offsetting
|
|
Net
book value
|
|
Gross
|
|
Offsetting
|
|
Net
book value
|
|
|
Securities sold under repurchase agreements and securities lending transactions (CHF billion)
|
|
Securities sold under repurchase agreements
|
|
32.3
|
|
(16.6)
|
|
15.7
|
|
26.1
|
|
(7.9)
|
|
18.2
|
|
|
Securities lending transactions
|
|
15.4
|
|
0.0
|
|
15.4
|
|
16.6
|
|
0.0
|
|
16.6
|
|
|
Obligation to return securities received as collateral, at fair value
|
|
14.7
|
|
0.0
|
|
14.7
|
|
49.9
|
|
0.0
|
|
49.9
|
|
|
Total subject to enforceable master netting agreements
|
|
62.4
|
|
(16.6)
|
|
45.8
|
|
92.6
|
|
(7.9)
|
|
84.7
|
|
|
Total not subject to enforceable master netting agreements 1
|
|
4.6
|
|
–
|
|
4.6
|
|
3.1
|
|
–
|
|
3.1
|
|
|
Total
|
|
67.0
|
|
(16.6)
|
|
50.4
|
|
95.7
|
|
(7.9)
|
|
87.8
|
|
|
of which securities sold under repurchase agreements and securities lending transactions
|
|
52.0
|
|
(16.6)
|
|
35.4
|
2
|
44.9
|
|
(7.9)
|
|
37.0
|
2
|
|
of which obligation to return securities received as collateral, at fair value
|
|
15.0
|
|
0.0
|
|
15.0
|
|
50.8
|
|
0.0
|
|
50.8
|
|
1
Represents securities sold under repurchase agreements and securities lending transactions where a legal opinion supporting the enforceability of netting in the event of default or termination under the agreement is not in place.
|
2
CHF 13,307 million and CHF 13,688 million of the total net amount as of the end of 2021 and 2020, respectively, are reported at fair value.
|
|
| Amounts not offset in the consolidated balance sheets |
Amounts not offset in the consolidated balance sheets
|
|
|
2021
|
|
2020
|
|
end of
|
|
Net
|
|
Financial
instruments
|
1
|
Cash
collateral
received/
pledged
|
1
|
Net
exposure
|
|
Net
|
|
Financial
instruments
|
1
|
Cash
collateral
received/
pledged
|
1
|
Net
exposure
|
|
|
Financial assets subject to enforceable master netting agreements (CHF billion)
|
|
Derivatives
|
|
11.1
|
|
4.5
|
|
0.0
|
|
6.6
|
|
14.4
|
|
5.5
|
|
0.1
|
|
8.8
|
|
|
Securities purchased under resale agreements
|
|
57.5
|
|
57.5
|
|
0.0
|
|
0.0
|
|
48.3
|
|
48.3
|
|
0.0
|
|
0.0
|
|
|
Securities borrowing transactions
|
|
22.2
|
|
21.9
|
|
0.0
|
|
0.3
|
|
24.7
|
|
24.3
|
|
0.0
|
|
0.4
|
|
|
Total financial assets subject to enforceable master netting agreements
|
|
90.8
|
|
83.9
|
|
0.0
|
|
6.9
|
|
87.4
|
|
78.1
|
|
0.1
|
|
9.2
|
|
|
Financial liabilities subject to enforceable master netting agreements (CHF billion)
|
|
Derivatives
|
|
6.3
|
|
1.3
|
|
0.0
|
|
5.0
|
|
10.7
|
|
2.2
|
|
0.0
|
|
8.5
|
|
|
Securities sold under repurchase agreements
|
|
15.7
|
|
15.6
|
|
0.1
|
|
0.0
|
|
18.2
|
|
18.2
|
|
0.0
|
|
0.0
|
|
|
Securities lending transactions
|
|
15.4
|
|
15.3
|
|
0.0
|
|
0.1
|
|
16.6
|
|
16.3
|
|
0.0
|
|
0.3
|
|
|
Obligation to return securities received as collateral, at fair value
|
|
14.7
|
|
13.0
|
|
0.0
|
|
1.7
|
|
49.9
|
|
43.4
|
|
0.0
|
|
6.5
|
|
|
Total financial liabilities subject to enforceable master netting agreements
|
|
52.1
|
|
45.2
|
|
0.1
|
|
6.8
|
|
95.4
|
|
80.1
|
|
0.0
|
|
15.3
|
|
1
The total amount reported in financial instruments (recognized financial assets and financial liabilities and non-cash financial collateral) and cash collateral is limited to the amount of the related instruments presented in the consolidated balance sheets and therefore any over-collateralization of these positions is not included.
|
|