Financial instruments (Tables)
 12 Months Ended
Dec. 31, 2021
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
Assets and liabilities measured at fair value on a recurring basis

end of 2021



Level 1



Level 2



Level 3


Netting
impact 		1 Assets
measured
at net
asset value
per share 		2



Total
Assets (CHF million)   
Cash and due from banks 0 308 0 – – 308
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 68,623 0 – – 68,623
Securities received as collateral 13,848 1,155 14 – – 15,017
Trading assets 54,085 146,521 4,503 (94,633) 665 111,141
   of which debt securities  12,191 40,700 1,225 – 82 54,198
      of which foreign governments  11,996 11,377 35 – – 23,408
      of which corporates  72 8,958 478 – 82 9,590
      of which RMBS  0 17,033 424 – – 17,457
   of which equity securities  34,282 1,486 195 – 583 36,546
   of which derivatives  6,224 103,781 2,187 (94,633) – 17,559
      of which interest rate products  721 47,934 624 – – –
      of which foreign exchange products  123 20,686 53 – – –
      of which equity/index-related products  5,348 29,808 212 – – –
      of which other derivatives  0 196 1,034 – – –
   of which other trading assets  1,388 554 896 – – 2,838
Investment securities 2 1,003 0 – – 1,005
Other investments 0 23 3,666 – 405 4,094
   of which other equity investments  0 23 2,863 – 351 3,237
   of which life finance instruments  0 0 789 – – 789
Loans 0 8,709 1,534 – – 10,243
   of which commercial and industrial loans  0 2,267 717 – – 2,984
   of which financial institutions  0 3,840 465 – – 4,305
Other intangible assets (mortgage servicing rights) 0 57 167 – – 224
Other assets 121 8,750 694 (381) – 9,184
   of which failed purchases  98 1,135 11 – – 1,244
   of which loans held-for-sale  0 6,818 562 – – 7,380
Total assets at fair value  68,056 235,149 10,578 (95,014) 1,070 219,839
1
Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements.
2
In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Assets and liabilities measured at fair value on a recurring basis (continued)

end of 2021



Level 1



Level 2



Level 3


Netting
impact 		1 Liabilities
measured
at net
asset value
per share 		2



Total
Liabilities (CHF million)   
Due to banks 0 477 0 – – 477
Customer deposits 0 3,306 394 – – 3,700
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,213 0 – – 13,213
Obligation to return securities received as collateral 13,848 1,155 14 – – 15,017
Trading liabilities 19,419 105,828 2,809 (100,522) 1 27,535
   of which short positions  11,689 4,974 25 – 1 16,689
      of which debt securities 2,809 4,865 3 – – 7,677
         of which foreign governments 2,667 968 0 – – 3,635
         of which corporates 113 3,839 3 – – 3,955
      of which equity securities 8,880 109 22 – 1 9,012
   of which derivatives 7,730 100,854 2,784 (100,522) – 10,846
      of which interest rate products 776 44,003 26 – – –
      of which foreign exchange products 133 22,646 57 – – –
      of which equity/index-related products 6,812 27,919 1,787 – – –
Short-term borrowings 0 9,658 1,032 – – 10,690
Long-term debt 0 59,046 9,676 – – 68,722
   of which structured notes over one year and up to two years 0 11,036 1,464 – – 12,500
   of which structured notes over two years 0 24,168 6,318 – – 30,486
   of which other debt instruments over two years 0 3,223 1,854 – – 5,077
   of which high-trigger instruments 0 10,702 0 – – 10,702
Other liabilities 348 2,031 518 (305) – 2,592
Total liabilities at fair value 33,615 194,714 14,443 (100,827) 1 141,946
1
Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements.
2
In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Assets and liabilities measured at fair value on a recurring basis (continued)

end of 2020



Level 1



Level 2



Level 3


Netting
impact 		1 Assets
measured
at net
asset value
per share 		2



Total
Assets (CHF million)   
Cash and due from banks 0 525 0 – – 525
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 57,994 0 – – 57,994
Securities received as collateral 44,074 6,598 101 – – 50,773
Trading assets 87,710 181,166 7,535 (119,731) 658 157,338
   of which debt securities  16,321 45,766 2,253 – 55 64,395
      of which foreign governments  15,908 11,909 140 – – 27,957
      of which corporates  353 9,799 1,270 – 55 11,477
      of which RMBS  0 20,882 557 – – 21,439
   of which equity securities  60,044 2,466 124 – 603 63,237
   of which derivatives  9,297 132,054 3,911 (119,731) – 25,531
      of which interest rate products  3,036 71,043 733 – – –
      of which foreign exchange products  42 24,259 143 – – –
      of which equity/index-related products  6,150 31,945 1,186 – – –
      of which other derivatives  22 110 1,079 – – –
   of which other trading assets  2,048 880 1,247 – – 4,175
Investment securities 2 605 0 – – 607
Other investments 13 6 3,054 – 721 3,794
   of which other equity investments  13 6 2,132 – 608 2,759
   of which life finance instruments  0 0 920 – – 920
Loans 0 7,739 3,669 – – 11,408
   of which commercial and industrial loans  0 2,187 1,347 – – 3,534
   of which financial institutions  0 3,506 1,082 – – 4,588
Other intangible assets (mortgage servicing rights) 0 0 180 – – 180
Other assets 137 7,315 1,825 (904) – 8,373
   of which failed purchases  109 1,229 51 – – 1,389
   of which loans held-for-sale  0 4,870 1,576 – – 6,446
Total assets at fair value  131,936 261,948 16,364 (120,635) 1,379 290,992
1
Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements.
2
In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Assets and liabilities measured at fair value on a recurring basis (continued)

end of 2020



Level 1



Level 2



Level 3


Netting
impact 		1 Liabilities
measured
at net
asset value
per share 		2



Total
Liabilities (CHF million)   
Due to banks 0 413 0 – – 413
Customer deposits 0 3,895 448 – – 4,343
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,594 0 – – 13,594
Obligation to return securities received as collateral 44,074 6,598 101 – – 50,773
Trading liabilities 33,544 137,947 4,246 (129,867) 1 45,871
   of which equity securities 20,527 111 55 – 1 20,694
   of which derivatives 10,536 132,885 4,191 (129,867) – 17,745
      of which interest rate products  3,264 68,159 169 – – –
      of which foreign exchange products  51 28,819 72 – – –
      of which equity/index-related products  7,149 30,612 2,010 – – –
      of which credit derivatives 0 4,663 1,335 – – –
Short-term borrowings 0 10,039 701 – – 10,740
Long-term debt 0 63,708 7,268 – – 70,976
   of which structured notes over one year and up to two years 0 11,787 1,133 – – 12,920
   of which structured notes over two years 0 28,330 5,526 – – 33,856
   of which high-trigger instruments 0 10,586 0 – – 10,586
Other liabilities 0 6,678 1,271 (169) – 7,780
Total liabilities at fair value 77,618 242,872 14,035 (130,036) 1 204,490
1
Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements.
2
In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
 
Assets and liabilities measured at fair value on a recurring basis for level 3
Assets and liabilities measured at fair value on a recurring basis for level 3
   
Trading revenues
Other revenues 		Accumulated other
comprehensive income

2021
Balance at
beginning
of period

Transfers
in

Transfers
out


Purchases


Sales


Issuances


Settlements
On
transfers
out

On all
other
On
transfers
out

On all
other
On
transfers
out

On all
other 		Foreign
currency
translation
impact
Balance
at end
of period
Changes in
unrealized
gains/losses 		1
Assets (CHF million)   
Securities received as collateral 101 0 0 73 (164) 0 0 0 0 0 0 0 0 4 14 0
Trading assets 7,535 1,345 (3,413) 4,867 (5,685) 874 (1,629) (133) 509 0 (1) 0 0 234 4,503 52
   of which debt securities  2,253 878 (1,701) 3,668 (4,141) 0 0 (331) 509 0 (1) 0 0 91 1,225 103
      of which corporates  1,270 471 (747) 2,753 (3,483) 0 0 (321) 472 0 0 0 0 63 478 154
      of which RMBS  557 158 (615) 654 (385) 0 0 (25) 59 0 0 0 0 21 424 (15)
   of which derivatives  3,911 314 (1,551) 0 0 874 (1,514) 79 (16) 0 0 0 0 90 2,187 116
      of which interest rate products  733 58 (222) 0 0 175 (79) (8) (14) 0 0 0 0 (19) 624 141
      of which other derivatives  1,079 1 0 0 0 311 (325) 0 (73) 0 0 0 0 41 1,034 (81)
   of which other trading assets  1,247 31 (90) 1,035 (1,371) 0 (115) 62 49 0 0 0 0 48 896 (96)
Other investments 3,054 99 (758) 1,517 (663) 0 0 0 86 0 267 0 0 64 3,666 120
   of which other equity investments  2,132 65 (757) 1,482 (448) 0 0 0 96 0 263 0 0 30 2,863 80
   of which life finance instruments  920 0 0 33 (188) 0 0 0 (10) 0 0 0 0 34 789 39
Loans 3,669 257 (1,315) 362 (194) 207 (1,620) 7 55 0 (3) 0 0 109 1,534 (59)
   of which commercial and industrial loans  1,347 213 (364) 10 (133) 162 (643) 19 74 0 (3) 0 0 35 717 6
   of which financial institutions  1,082 43 (340) 0 (42) 34 (409) 1 70 0 0 0 0 26 465 27
Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (42) 0 0 7 167 (42)
Other assets 1,825 370 (902) 3,447 (3,269) 120 (924) 14 (41) 0 0 0 0 54 694 (137)
   of which loans held-for-sale  1,576 360 (855) 3,394 (3,222) 120 (921) 25 41 0 0 0 0 44 562 (104)
Total assets at fair value  16,364 2,071 (6,388) 10,288 (9,975) 1,201 (4,173) (112) 609 0 221 0 0 472 10,578 (66)
Liabilities (CHF million)   
Customer deposits 448 0 0 0 0 0 0 0 (18) 0 0 0 (14) (22) 394 (29)
Obligation to return securities received as collateral 101 0 0 73 (164) 0 0 0 0 0 0 0 0 4 14 0
Trading liabilities 4,246 1,007 (2,703) 45 (56) 1,135 (1,498) 340 138 0 0 0 0 155 2,809 653
   of which derivatives  4,191 838 (2,553) 19 (8) 1,135 (1,498) 340 166 0 0 0 0 154 2,784 629
      of which equity/index-related derivatives  2,010 562 (1,498) 0 0 581 (644) 353 352 0 0 0 0 71 1,787 712
Short-term borrowings 701 359 (550) 0 0 1,766 (1,363) (35) 128 0 0 0 0 26 1,032 72
Long-term debt 7,268 4,767 (6,677) 0 0 11,323 (6,863) (38) (316) 0 (5) 0 (50) 267 9,676 (32)
   of which structured notes over one year and up to two years  1,133 1,802 (1,979) 0 0 2,052 (1,663) (26) 104 0 0 (1) (1) 43 1,464 (2)
   of which structured notes over two years  5,526 2,965 (4,314) 0 0 7,540 (5,038) 11 (528) 0 0 1 (47) 202 6,318 (312)
   of which other debt instruments over two years  165 0 (2) 0 0 1,616 (36) 0 105 0 0 0 0 6 1,854 306
Other liabilities 1,271 21 (556) 51 (89) 116 (501) 10 (28) 113 66 0 0 44 518 26
Total liabilities at fair value  14,035 6,154 (10,486) 169 (309) 14,340 (10,225) 277 (96) 113 61 0 (64) 474 14,443 690
Net assets/(liabilities) at fair value  2,329 (4,083) 4,098 10,119 (9,666) (13,139) 6,052 (389) 705 (113) 160 0 64 (2) (3,865) (756)
1
Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 2021, changes in net unrealized gains/(losses) of CHF (841) million and CHF 82 million were recorded in trading revenues and other revenues, respectively, and changes in unrealized (gains)/losses of CHF 3 million were recorded in Gains/(losses) on liabilities relating to credit risk in Accumulated other comprehensive income/(loss).
 
Assets and liabilities measured at fair value on a recurring basis for level 3 (continued)
   
Trading revenues
Other revenues 		Accumulated other
comprehensive income

2020
Balance at
beginning
of period

Transfers
in

Transfers
out


Purchases


Sales


Issuances


Settlements
On
transfers
out

On all
other
On
transfers
out

On all
other
On
transfers
out

On all
other 		Foreign
currency
translation
impact
Balance
at end
of period
Changes in
unrealized
gains/losses 		1
Assets (CHF million)   
Securities received as collateral 1 0 0 213 (106) 0 0 0 0 0 0 0 0 (7) 101 0
Trading assets 7,885 3,255 (3,271) 6,304 (6,740) 2,064 (2,968) 290 1,598 0 5 0 0 (887) 7,535 1,377
   of which debt securities  1,923 2,078 (1,775) 3,811 (3,493) 0 0 1 14 0 5 0 0 (311) 2,253 166
      of which corporates  1,128 703 (809) 2,685 (2,464) 0 0 26 211 0 0 0 0 (210) 1,270 196
   of which derivatives  3,534 995 (1,207) 0 0 2,064 (2,891) 213 1,607 0 1 0 0 (405) 3,911 1,323
      of which equity/index-related products  1,040 255 (519) 0 0 507 (743) 107 725 0 0 0 0 (186) 1,186 752
      of which other derivatives  909 0 0 0 0 303 (326) (1) 291 0 0 0 0 (97) 1,079 310
   of which other trading assets  2,231 119 (246) 2,420 (3,189) 0 (77) 72 76 0 (1) 0 0 (158) 1,247 (87)
Other investments 2,523 8 0 442 (194) 0 0 0 112 0 286 0 0 (123) 3,054 409
   of which other equity investments  1,463 7 0 408 (22) 0 0 0 13 0 293 0 0 (30) 2,132 298
   of which life finance instruments  1,052 0 0 34 (172) 0 0 0 99 0 0 0 0 (93) 920 112
Loans 2 3,835 1,268 (549) 437 (640) 1,170 (1,435) 52 (164) 0 1 0 0 (306) 3,669 (97)
   of which commercial and industrial loans 2 1,401 446 (170) 184 (442) 610 (435) 6 (150) 0 1 0 0 (104) 1,347 (183)
   of which financial institutions  1,201 238 (245) 0 (31) 499 (531) 20 43 0 0 0 0 (112) 1,082 47
Other intangible assets (mortgage servicing rights) 244 0 0 0 0 0 0 0 0 0 (44) 0 0 (20) 180 (44)
Other assets 1,846 1,440 (709) 4,553 (4,595) 547 (995) (17) (14) 0 0 0 0 (231) 1,825 (48)
   of which loans held-for-sale  1,619 1,380 (665) 4,504 (4,567) 547 (994) (41) 4 0 0 0 0 (211) 1,576 (73)
Total assets at fair value  16,334 5,971 (4,529) 11,949 (12,275) 3,781 (5,398) 325 1,532 0 248 0 0 (1,574) 16,364 1,597
Liabilities (CHF million)   
Customer deposits 474 0 0 0 0 0 (27) 0 7 0 0 0 10 (16) 448 46
Obligation to return securities received as collateral 1 0 0 213 (106) 0 0 0 0 0 0 0 0 (7) 101 0
Trading liabilities 3,854 848 (1,614) 471 (310) 2,146 (2,375) 260 1,428 0 0 0 0 (462) 4,246 1,653
   of which derivatives  3,801 829 (1,611) 198 (8) 2,146 (2,375) 259 1,410 0 0 0 0 (458) 4,191 1,646
      of which equity/index-related derivatives  1,921 248 (954) 0 0 776 (536) 167 644 0 0 0 0 (256) 2,010 1,162
      of which credit derivatives  1,211 539 (562) 0 0 1,111 (1,425) 85 502 0 0 0 0 (126) 1,335 277
Short-term borrowings 997 37 (294) 0 0 1,307 (1,189) 4 (62) 0 0 0 0 (99) 701 94
Long-term debt 12,610 3,214 (7,478) 0 0 5,891 (5,622) 568 (708) 0 0 99 (81) (1,225) 7,268 236
   of which structured notes over one year and up to two years  891 689 (676) 0 0 1,022 (690) 40 (38) 0 0 1 (1) (105) 1,133 (19)
   of which structured notes over two years  11,458 1,614 (6,479) 0 0 4,766 (4,577) 532 (683) 0 0 98 (92) (1,111) 5,526 224
Other liabilities 1,385 160 (183) 266 (277) 129 (396) (33) 37 0 300 0 0 (117) 1,271 64
Total liabilities at fair value  19,321 4,259 (9,569) 950 (693) 9,473 (9,609) 799 702 0 300 99 (71) (1,926) 14,035 2,093
Net assets/(liabilities) at fair value  (2,987) 1,712 5,040 10,999 (11,582) (5,692) 4,211 (474) 830 0 (52) (99) 71 352 2,329 (496)
1
Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 2020, changes in net unrealized gains/(losses) of CHF (692) million and CHF 296 million were recorded in trading revenues and other revenues, respectively, and changes in unrealized (gains)/losses of CHF (100) million were recorded in Gains/(losses) on liabilities relating to credit risk in Accumulated other comprehensive income/(loss).
2
Includes an adjustment of CHF 118 million reflecting the impact of applying the fair value option on certain loans (previously held at amortized cost) at the adoption of the ASU 2019-05.
 
Quantitative information about level 3 assets and liabilities at fair value
Quantitative information about level 3 assets measured at fair value on a recurring basis

end of 2021
Fair value 		Valuation
technique 		Unobservable
input 		Minimum
value 		Maximum
value 		Weighted
average 		1
CHF million, except where indicated
Trading assets 4,503
   of which debt securities  1,225
      of which corporates  478
         of which  124 Discounted cash flow Credit spread, in bp 50 1,290 701
  Price, in % 0 100 47
  Recovery rate, in % 39 39 1
         of which  107 Market comparable Price, in % 0 110 63
         of which  55 Option model Correlation, in % (50) 100 68
  Fund gap risk, in % 2 0 3 1
  Volatility, in % 0 163 17
         of which  69 Price Price, in % 35 120 92
         of which  145 Vendor price Price, in actuals 0 123 79
      of which RMBS  424 Discounted cash flow Discount rate, in % 1 29 13
   of which derivatives  2,187
      of which interest rate products  624
         of which  6 Discounted cash flow Funding spread, in bp 109 166 127
  Volatility, in % 0 100 97
         of which  612 Option model Correlation, in % (4) 100 9
  Mean reversion, in % (55) (8) 0
  Prepayment rate, in % 0 21 17
  Volatility, in % (3) 1 0
      of which other derivatives  1,034 Discounted cash flow Market implied life expectancy, in years 2 14 6
  Mortality rate, in % 73 138 99
   of which other trading assets  896
         of which  611 Discounted cash flow Market implied life expectancy, in years 3 14 7
  Tax swap rate, in % 30 30 30
         of which  189 Market comparable Price, in % 0 130 34
         of which  93 Option model Mortality rate, in % 0 70 6
Other investments 3,666
   of which other equity investments  2,863
      of which  929 Adjusted NAV Price, in actuals 287 287 287
      of which  1,919 Price Price, in actuals 1 1,292 54
   of which life finance instruments  789 Discounted cash flow Market implied life expectancy, in years 2 16 6
Loans 1,534
   of which commercial and industrial loans  717
      of which  474 Discounted cash flow Credit spread, in bp 184 3,325 809
      of which  6 Market comparable Price, in % 19 19 19
      of which  209 Price Price, in % 0 100 50
   of which financial institutions  465
      of which  327 Discounted cash flow Credit spread, in bp 0 3,212 921
      of which  158 Price Price, in % 14 76 31
Other assets 694
   of which loans held-for-sale  562
      of which  281 Discounted cash flow Credit spread, in bp 0 563 314
      of which  254 Market comparable Price, in % 0 139 67
      of which  16 Price Price, in % 0 75 54
1
Weighted average is calculated based on the fair value of the instruments.
2
Risk of unexpected large declines in the underlying values occurring between collateral settlement dates.
Quantitative information about level 3 assets measured at fair value on a recurring basis (continued)

end of 2020
Fair value 		Valuation
technique 		Unobservable
input 		Minimum
value 		Maximum
value 		Weighted
average 		1
CHF million, except where indicated
Trading assets 7,535
   of which debt securities  2,253
      of which corporates  1,270
         of which  386 Discounted cash flow Credit spread, in bp (9) 1,509 1,007
         of which  321 Market comparable Price, in % 0 227 95
         of which  416 Option model Correlation, in % (50) 100 55
  Gap risk, in % 2 0 2 0
  Recovery rate, in % 40 40 40
  Volatility, in % 0 158 23
         of which  71 Vendor price Price, in actuals 0 2,292 1,654
  Unadjusted NAV, in actuals 1 1 1
   of which derivatives  3,911
      of which equity/index-related products  1,186 Option model Buyback probability, in % 50 100 66
  Correlation, in % (50) 100 58
  Gap risk, in % 2 0 4 0
  Volatility, in % (2) 158 24
      of which other derivatives  1,079 Discounted cash flow Market implied life expectancy, in years 2 14 6
  Mortality rate, in % 72 137 98
   of which other trading assets  1,247
      of which  766 Discounted cash flow Market implied life expectancy, in years 3 14 7
Other investments 3,054
   of which other equity investments  2,132
      of which  840 Discounted cash flow Discount rate, in % 9 9 9
  Terminal growth rate, in % 3 3 3
      of which  118 Market comparable Price, in % 100 100 100
      of which  974 Adjusted NAV Price, in actuals 310 310 310
      of which  110 Vendor price Price, in actuals 1 1,249 713
   of which life finance instruments  920 Discounted cash flow Market implied life expectancy, in years 2 15 6
Loans 3,669
   of which commercial and industrial loans  1,347
      of which  908 Discounted cash flow Credit spread, in bp 237 1,480 554
  Recovery rate, in % 25 25 25
      of which  338 Market comparable Price, in % 0 100 70
      of which  72 Option model Pre-IPO intrinsic option, in actuals 100 100 100
   of which financial institutions  1,082
      of which  674 Discounted cash flow Credit spread, in bp 192 1,698 612
  Recovery rate, in % 25 40 25
      of which  190 Market comparable Price, in % 0 100 54
Other assets 1,825
   of which loans held-for-sale  1,576
      of which  296 Discounted cash flow Credit spread, in bp 246 506 343
  Recovery rate, in % 1 40 34
      of which  1,277 Market comparable Price, in % 0 111 71
1
Weighted average is calculated based on the fair value of the instruments.
2
Risk of unexpected large declines in the underlying values occurring between collateral settlement dates.
Quantitative information about level 3 liabilities measured at fair value on a recurring basis

end of 2021
Fair value 		Valuation
technique 		Unobservable
input 		Minimum
value 		Maximum
value 		Weighted
average 		1
CHF million, except where indicated   
Trading liabilities 2,809
   of which derivatives  2,784
      of which equity/index-related derivatives  1,787
         of which  1,696 Option model Buyback probability, in % 2 50 100 72
  Correlation, in % (50) 100 67
  Dividend yield, in % 0 7 4
  Unadjusted NAV, in actuals 101 440 358
  Volatility, in % (1) 163 17
         of which  63 Price Price, in actuals 0 849 2
Short-term borrowings 1,032
   of which  24 Discounted cash flow Credit spread, in bp 0 181 51
   of which  905 Option model Buyback probability, in % 2 50 100 72
  Correlation, in % (50) 100 70
  Fund gap risk, in % 3 0 3 1
  Gap risk, in % 3 0 3 1
  Unadjusted NAV, in actuals 101 440 358
  Volatility, in % 0 163 16
   of which  73 Price Price, in % 34 120 94
Long-term debt 9,676
   of which structured notes over one year and    up to two years  1,464 Option model Buyback probability, in % 2 50 100 72
  Correlation, in % (50) 100 69
  Fund gap risk, in % 3 0 3 1
  Gap risk, in % 3 0 3 1
  Unadjusted NAV, in actuals 101 440 358
  Volatility, in % 0 163 16
   of which structured notes over two years  6,318
      of which  474 Discounted cash flow Credit spread, in bp 8 702 72
      of which  5,813 Option model Buyback probability, in % 2 50 100 72
  Correlation, in % (50) 100 75
  Credit spread, in bp 3 92 75
  Fund gap risk, in % 3 0 3 1
  Unadjusted NAV, in actuals 101 440 358
  Volatility, in % 0 163 19
      of which  9 Price Price, in % 26 26 26
   of which other debt instruments over two years  1,854
      of which  382 Option model Buyback probability, in % 2 50 100 72
  Correlation, in % 16 30 24
  Price, in actuals 9 9 9
      of which  1,472 Price Price, in actuals 9 35 9
1
Weighted average is calculated based on the fair value of the instruments.
2
Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments.
3
Risk of unexpected large declines in the underlying values occurring between collateral settlement dates.
Quantitative information about level 3 liabilities measured at fair value on a recurring basis (continued)

end of 2020
Fair value 		Valuation
technique 		Unobservable
input 		Minimum
value 		Maximum
value 		Weighted
average 		1
CHF million, except where indicated   
Trading liabilities 4,246
   of which derivatives  4,191
      of which equity/index-related derivatives  2,010 Option model Buyback probability, in % 2 50 100 66
  Correlation, in % (50) 100 58
  Volatility, in % (2) 158 27
      of which credit derivatives  1,335
         of which  738 Discounted cash flow Correlation, in % 37 45 44
  Credit spread, in bp 0 1,468 391
  Default rate, in % 0 7 3
  Discount rate, in % 6 19 14
  Funding spread, in bp 55 183 120
  Loss severity, in % 0 100 68
  Prepayment rate, in % 0 9 7
  Recovery rate, in % 12 81 38
         of which  520 Market comparable Price, in % 84 116 99
         of which  12 Option model Correlation, in % 49 50 50
  Credit spread, in bp 13 865 250
Short-term borrowings 701
   of which  58 Discounted cash flow Credit spread, in bp (4) 992 722
  Recovery rate, in % 35 40 39
   of which  508 Option model Buyback probability, in % 2 50 100 66
  Correlation, in % (50) 100 56
  Fund gap risk, in % 3 0 2 0
  Volatility, in % 3 158 30
Long-term debt 7,268
   of which structured notes over one year and    up to two years  1,133
      of which  48 Discounted cash flow Credit spread, in bp 35 189 52
  Recovery rate, in % 25 25 25
      of which  1,051 Option model Buyback probability, in % 2 50 100 66
  Correlation, in % (50) 100 55
  Fund gap risk, in % 3 0 2 0
  Gap risk, in % 3 0 4 1
  Volatility, in % 0 158 24
   of which structured notes over two years  5,526
      of which  1,380 Discounted cash flow Credit spread, in bp (14) 481 58
  Recovery rate, in % 23 40 38
      of which  9 Market comparable Price, in % 27 46 27
      of which  3,961 Option model Buyback probability, in % 2 50 100 66
  Correlation, in % (50) 100 55
  Gap risk, in % 3 0 2 0
  Mean reversion, in % 4 (10) 0 (5)
  Volatility, in % 0 158 21
1
Weighted average is calculated based on the fair value of the instruments.
2
Estimate of probability of structured notes being put back to the Group at the option of the investor over the remaining life of the financial instruments.
3
Risk of unexpected large declines in the underlying values occurring between collateral settlement dates.
4
Management's best estimate of the speed at which interest rates will revert to the long-term average.
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI
Gains/(losses) attributable to changes in instrument-specific credit risk
    

Gains/(losses) recorded into AOCI 		1 Gains/(losses) recorded
in AOCI transferred
to net income 		1
in 2021 Cumulative 2020 2021 2020
Financial instruments (CHF million)   
Customer deposits 14 (62) (9) 0 0
Short-term borrowings 19 (51) (13) 0 1
Long-term debt 266 (2,139) 70 103 155
   of which treasury debt over two years  (129) (921) 234 0 0
   of which structured notes over two years  359 (1,132) (177) 103 155
Total  299 (2,252) 48 103 156
1
Amounts are reflected gross of tax.
Fair value, unfunded commitments and term of redemption conditions
Fair value, unfunded commitments and term of redemption conditions of investment funds measured at NAV per share
   2021 2020

end of
Non-
redeemable

Redeemable
Total
fair value 		Unfunded
commit-
ments
Non-
redeemable

Redeemable
Total
fair value 		Unfunded
commit-
ments
Fair value of investment funds and unfunded commitments (CHF million)   
Funds held in trading assets and trading liabilities  193 471 664 24 138 519 657 45
Private equity funds 40 0 40 42 94 0 94 77
Hedge funds 12 2 14 1 12 7 19 0
Equity method investment funds 336 15 351 124 321 287 608 226
Funds held in other investments  388 17 405 167 427 294 721 303
Total fair value of investment funds and unfunded commitments  581 1 488 2 1,069 191 565 3 813 4 1,378 348
1
CHF 339 million of the underlying assets have known liquidation periods and for CHF 242 million, the timing of liquidation is unknown.
2
CHF 304 million is redeemable on demand with a notice period of primarily less than 30 days.
3
CHF 190 million of the underlying assets have known liquidation periods and for CHF 375 million, the timing of liquidation is unknown.
4
CHF 540 million is redeemable on demand with a notice period of primarily less than 30 days. CHF 4 million of the investment funds had restrictions on redemptions, which have a redemption restriction of less than 1 year.
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Text Block]
Assets and liabilities measured at fair value on a nonrecurring basis
end of 2021 Level 1 Level 2 Level 3 Total
Assets (CHF million)   
Other investments 0 0 152 152
   of which equity method investments  0 0 118 118
   of which equity securities (without a readily determinable fair value)  0 0 21 21
Net loans 0 12 5 17
Other assets 0 29 110 139
   of which loans held-for-sale  0 28 45 73
   of which premises, equipment and right-of-use assets  0 1 60 61
Total assets recorded at fair value on a nonrecurring basis  0 41 267 308
Liabilities (CHF million)   
Other liabilities 0 0 21 21
   of which commitments held-for-sale  0 0 21 21
Total liabilities recorded at fair value on a nonrecurring basis  0 0 21 21
end of 2020
Assets (CHF million)   
Other investments 0 217 326 543
   of which equity method investments  0 0 303 303
   of which equity securities (without a readily determinable fair value)  0 217 10 227
Net loans 0 67 4 71
Other assets 0 104 97 201
   of which loans held-for-sale  0 97 39 136
   of which premises, equipment and right-of-use assets  0 4 54 58
Total assets recorded at fair value on a nonrecurring basis  0 388 427 815
Liabilities (CHF million)   
Other liabilities 0 0 14 14
   of which commitments held-for-sale  0 0 14 14
Total liabilities recorded at fair value on a nonrecurring basis  0 0 14 14
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]
Quantitative information about level 3 assets and liabilities measured at fair value on a nonrecurring basis

end of 2021
Fair value 		Valuation
technique 		Unobservable
input 		Minimum
value 		Maximum
value 		Weighted
average 		1
Assets (CHF million, except where indicated)
Other investments 152
   of which equity method investments  118 Discounted cash flow Discount rate, in % 8 13 13
   of which equity securities    (without a readily determinable fair value)  21
      of which  16 Discounted cash flow Discount rate, in % 12 16 14
      of which  5 Market comparable Price per share, in actuals 5 6,003 2,441
Other assets 110
   of which loans held-for-sale  45 Market comparable Price, in % 80 100 88
   of which premises, equipment and right-of-use assets  60 Market comparable Price, in actuals 60 60 60
Liabilities (CHF million, except where indicated)
Other liabilities 21
   of which commitments held-for-sale  21 Market comparable Price, in % 80 97 83
end of 2020
Assets (CHF million, except where indicated)
Other investments 326
   of which equity method investments  303 Discounted cash flow Discount rate, in % 10 14 12
Other assets 97
   of which loans held-for-sale  39 Market comparable Price, in % 83 100 95
   of which premises, equipment and right-of-use assets  54
      of which  52 Discounted cash flow Price, in actuals 52 52 52
  Discount rate, in % 1 3 3
      of which  2 Market comparable Price, in actuals 2 2 2
Liabilities (CHF million, except where indicated)
Other liabilities 14
   of which commitments held-for-sale  14 Market comparable Price, in % 83 98 89
1
Weighted average is calculated based on the fair value of the instruments.
Fair Value, Option, Quantitative Disclosures [Table Text Block]
Difference between the aggregate fair value and unpaid principal balances of fair value option-elected financial instruments
   2021 2020

end of 		Aggregate
fair
value 		Aggregate
unpaid
principal

Difference 		Aggregate
fair
value 		Aggregate
unpaid
principal

Difference
Financial instruments (CHF million)   
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 68,623 68,565 58 57,994 57,895 99
Loans 10,243 11,035 (792) 11,408 12,079 (671)
Other assets 1 8,624 10,777 (2,153) 7,834 10,090 (2,256)
Due to banks and customer deposits (493) (442) (51) (578) (489) (89)
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (13,213) (13,212) (1) (13,594) (13,578) (16)
Short-term borrowings (10,690) (10,996) 306 (10,740) (10,632) (108)
Long-term debt 2 (68,722) (71,833) 3,111 (70,976) (73,842) 2,866
Other liabilities (1,170) (1,403) 233 (616) (1,569) 953
Non-performing and non-interest-earning loans 3 843 2,657 (1,814) 543 3,364 (2,821)
1
Primarily loans held-for-sale.
2
Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal.
3
Included in loans or other assets.
Gains and losses on financial instruments
   2021 2020 2019

in 		Net
gains/
(losses) 		Net
gains/
(losses) 		Net
gains/
(losses)
Financial instruments (CHF million)   
Interest-bearing deposits with banks 24 1 15 1 29 1
   of which related to credit risk  2 0 11
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 638 1 1,198 1 2,696 1
Other investments 304 2 397 2 268 3
   of which related to credit risk  2 1 2
Loans 443 1 510 1 908 1
   of which related to credit risk  (13) (181) 26
Other assets 519 1 489 1 892 1
   of which related to credit risk  133 (106) 111
Due to banks and customer deposits (22) 3 (10) 3 (29) 3
   of which related to credit risk  0 0 1
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (43) 1 (58) 1 (612) 1
Short-term borrowings 98 3 (687) 3 (50) 3
   of which related to credit risk  2 0 8
Long-term debt (3,005) 3 (2,294) 3 (8,501) 3
   of which related to credit risk  0 11 (5)
Other liabilities 171 3 (20) 3 92 2
   of which related to credit risk  71 (15) 50
1
Primarily recognized in net interest income.
2
Primarily recognized in other revenues.
3
Primarily recognized in trading revenues.
Fair Value, by Balance Sheet Grouping [Table Text Block]
Carrying value and fair value of financial instruments not carried at fair value
    Carrying
value
Fair value
end of Level 1 Level 2 Level 3 Total
2021 (CHF million)
Financial assets 
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35,283 0 35,283 0 35,283
Loans 277,766 0 272,527 13,722 286,249
Other financial assets 1 180,024 164,097 15,469 503 180,069
Financial liabilities 
Due to banks and customer deposits 407,607 243,324 164,289 0 407,613
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 22,061 0 22,061 0 22,061
Short-term borrowings 8,703 0 8,702 0 8,702
Long-term debt 98,174 0 98,841 1,716 100,557
Other financial liabilities 2 12,460 1 12,021 443 12,465
2020 (CHF million)
Financial assets 
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 34,282 0 34,282 0 34,282
Loans 277,137 0 272,660 14,534 287,194
Other financial assets 1 155,266 138,672 16,315 303 155,290
Financial liabilities 
Due to banks and customer deposits 402,589 234,700 167,924 0 402,624
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 23,399 0 23,399 0 23,399
Short-term borrowings 10,128 0 10,128 0 10,128
Long-term debt 90,111 0 90,897 2,317 93,214
Other financial liabilities 2 16,012 0 15,567 412 15,979
1
Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities.
2
Primarily includes cash collateral on derivative instruments and interest and fee payables.
Bank  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
Assets and liabilities measured at fair value on a recurring basis

end of 2021



Level 1



Level 2



Level 3


Netting
impact 		1 Assets
measured
at net
asset value
per share 		2



Total
Assets (CHF million)   
Cash and due from banks 0 308 0 – – 308
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 68,623 0 – – 68,623
Securities received as collateral 13,848 1,155 14 – – 15,017
Trading assets 54,145 146,768 4,503 (94,782) 665 111,299
   of which debt securities  12,191 40,799 1,225 – 82 54,297
      of which foreign government  11,996 11,377 35 – – 23,408
      of which corporates  72 9,057 478 – 82 9,689
      of which RMBS  0 17,033 424 – – 17,457
   of which equity securities  34,342 1,486 195 – 583 36,606
   of which derivatives  6,224 103,930 2,187 (94,782) – 17,559
      of which interest rate products  721 48,083 624 – – –
      of which foreign exchange products  123 20,686 53 – – –
      of which equity/index-related products  5,348 29,808 212 – – –
      of which other derivatives  0 196 1,034 – – –
   of which other trading assets  1,388 553 896 – – 2,837
Investment securities 0 1,003 0 – – 1,003
Other investments 0 23 3,666 – 404 4,093
   of which other equity investments  0 23 2,863 – 351 3,237
   of which life finance instruments  0 0 789 – – 789
Loans 0 8,709 1,534 – – 10,243
   of which commercial and industrial loans  0 2,267 717 – – 2,984
   of which financial institutions  0 3,840 465 – – 4,305
Other intangible assets (mortgage servicing rights) 0 57 167 – – 224
Other assets 121 8,750 694 (381) – 9,184
   of which failed purchases  98 1,135 11 – – 1,244
   of which loans held-for-sale  0 6,818 562 – – 7,380
Total assets at fair value  68,114 235,396 10,578 (95,163) 1,069 219,994
1
Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements.
2
In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Assets and liabilities measured at fair value on a recurring basis (continued)

end of 2021



Level 1



Level 2



Level 3


Netting
impact 		1 Liabilities
measured
at net
asset value
per share 		2



Total
Liabilities (CHF million)   
Due to banks 0 477 0 – – 477
Customer deposits 0 3,306 394 – – 3,700
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,307 0 – – 13,307
Obligation to return securities received as collateral 13,848 1,155 14 – – 15,017
Trading liabilities 19,423 105,865 2,809 (100,559) 1 27,539
   of which short positions  11,693 4,974 25 – 1 16,693
      of which debt securities  2,809 4,865 3 – – 7,677
         of which foreign government  2,667 968 0 – – 3,635
         of which corporates  113 3,839 3 – – 3,955
      of which equity securities  8,884 109 22 – 1 9,016
   of which derivatives  7,730 100,891 2,784 (100,559) – 10,846
      of which interest rate products  776 44,039 26 – – –
      of which foreign exchange products  133 22,646 57 – – –
      of which equity/index-related products  6,812 27,919 1,787 – – –
Short-term borrowings 0 9,658 1,032 – – 10,690
Long-term debt 0 58,112 9,676 – – 67,788
   of which structured notes over one year and up to two years  0 11,036 1,464 – – 12,500
   of which structured notes over two years  0 24,168 6,318 – – 30,486
   of which other debt instruments over two years  0 3,223 1,854 – – 5,077
   of which high-trigger instruments  0 10,708 0 – – 10,708
   of which other subordinated bonds  0 7,133 0 – – 7,133
Other liabilities 348 2,008 517 (305) – 2,568
Total liabilities at fair value  33,619 193,888 14,442 (100,864) 1 141,086
1
Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements.
2
In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Assets and liabilities measured at fair value on a recurring basis (continued)

end of 2020



Level 1



Level 2



Level 3


Netting
impact 		1 Assets
measured
at net
asset value
per share 		2



Total
Assets (CHF million)   
Cash and due from banks 0 525 0 – – 525
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 0 57,994 0 – – 57,994
Securities received as collateral 44,074 6,598 101 – – 50,773
Trading assets 87,746 181,303 7,535 (119,731) 658 157,511
   of which debt securities  16,321 45,903 2,253 – 55 64,532
      of which foreign government  15,908 11,909 140 – – 27,957
      of which corporates  353 9,936 1,270 – 55 11,614
      of which RMBS  0 20,882 557 – – 21,439
   of which equity securities  60,080 2,466 124 – 603 63,273
   of which derivatives  9,297 132,054 3,911 (119,731) – 25,531
      of which interest rate products  3,036 71,043 733 – – –
      of which foreign exchange products  42 24,259 143 – – –
      of which equity/index-related products  6,150 31,945 1,186 – – –
      of which other derivatives  22 110 1,079 – – –
   of which other trading assets  2,048 880 1,247 – – 4,175
Investment securities 1 604 0 – – 605
Other investments 13 6 3,054 – 720 3,793
   of which other equity investments  13 6 2,132 – 609 2,760
   of which life finance instruments  0 0 920 – – 920
Loans 0 7,739 3,669 – – 11,408
   of which commercial and industrial loans  0 2,187 1,347 – – 3,534
   of which financial institutions  0 3,506 1,082 – – 4,588
Other intangible assets (mortgage servicing rights) 0 0 180 – – 180
Other assets 137 7,315 1,825 (904) – 8,373
   of which failed purchases  109 1,229 51 – – 1,389
   of which loans held-for-sale  0 4,870 1,576 – – 6,446
Total assets at fair value  131,971 262,084 16,364 (120,635) 1,378 291,162
1
Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements.
2
In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Assets and liabilities measured at fair value on a recurring basis (continued)

end of 2020



Level 1



Level 2



Level 3


Netting
impact 		1 Liabilities
measured
at net
asset value
per share 		2



Total
Liabilities (CHF million)   
Due to banks 0 413 0 – – 413
Customer deposits 0 3,895 448 – – 4,343
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 0 13,688 0 – – 13,688
Obligation to return securities received as collateral 44,074 6,598 101 – – 50,773
Trading liabilities 33,543 138,018 4,246 (129,937) 1 45,871
   of which equity securities  20,527 111 55 – 1 20,694
   of which derivatives  10,535 132,956 4,191 (129,937) – 17,745
      of which interest rate products  3,264 68,229 169 – – –
      of which foreign exchange products  51 28,819 72 – – –
      of which equity/index-related products  7,149 30,612 2,010 – – –
      of which credit derivatives  0 4,663 1,335 – – –
Short-term borrowings 0 10,039 701 – – 10,740
Long-term debt 0 62,957 7,286 – – 70,243
   of which structured notes over one year and up to two years  0 11,787 1,133 – – 12,920
   of which structured notes over two years  0 28,330 5,526 – – 33,856
   of which high-trigger instruments  0 10,627 0 – – 10,627
Other liabilities 0 6,675 1,250 (169) – 7,756
Total liabilities at fair value  77,617 242,283 14,032 (130,106) 1 203,827
1
Derivative contracts are reported on a gross basis by level. The impact of netting represents legally enforceable master netting agreements.
2
In accordance with US GAAP, certain investments that are measured at fair value using the net asset value per share practical expedient have not been classified in the fair value
hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheet.
Assets and liabilities measured at fair value on a recurring basis for level 3
Assets and liabilities measured at fair value on a recurring basis for level 3
   
Trading revenues
Other revenues 		Accumulated other
comprehensive income

2021
Balance at
beginning
of period

Transfers
in

Transfers
out


Purchases


Sales


Issuances


Settlements
On
transfers
out

On all
other
On
transfers
out

On all
other
On
transfers
out

On all
other 		Foreign
currency
translation
impact
Balance
at end
of period
Changes in
unrealized
gains/losses 		1
Assets (CHF million)   
Securities received as collateral 101 0 0 73 (164) 0 0 0 0 0 0 0 0 4 14 0
Trading assets 7,535 1,345 (3,413) 4,867 (5,685) 874 (1,629) (133) 509 0 (1) 0 0 234 4,503 52
   of which debt securities  2,253 878 (1,701) 3,668 (4,141) 0 0 (331) 509 0 (1) 0 0 91 1,225 103
      of which corporates  1,270 471 (747) 2,753 (3,483) 0 0 (321) 472 0 0 0 0 63 478 154
      of which RMBS  557 158 (615) 654 (385) 0 0 (25) 59 0 0 0 0 21 424 (15)
   of which derivatives  3,911 314 (1,551) 0 0 874 (1,514) 79 (16) 0 0 0 0 90 2,187 116
      of which interest rate products  733 58 (222) 0 0 175 (79) (8) (14) 0 0 0 0 (19) 624 141
      of which other derivatives  1,079 1 0 0 0 311 (325) 0 (73) 0 0 0 0 41 1,034 (81)
   of which other trading assets  1,247 31 (90) 1,035 (1,371) 0 (115) 62 49 0 0 0 0 48 896 (96)
Other investments 3,054 99 (758) 1,513 (658) 0 0 0 86 0 267 0 0 63 3,666 120
   of which other equity investments  2,132 65 (757) 1,478 (443) 0 0 0 96 0 262 0 0 30 2,863 80
   of which life finance instruments  920 0 0 33 (188) 0 0 0 (10) 0 0 0 0 34 789 39
Loans 2 3,669 257 (1,315) 362 (194) 207 (1,620) 7 55 0 (3) 0 0 109 1,534 (59)
   of which commercial and industrial loans 2 1,347 213 (364) 10 (133) 162 (643) 19 74 0 (3) 0 0 35 717 6
   of which financial institutions  1,082 43 (340) 0 (42) 34 (409) 1 70 0 0 0 0 26 465 27
Other intangible assets (mortgage servicing rights) 180 0 0 22 0 0 0 0 0 0 (42) 0 0 7 167 (42)
Other assets 1,825 370 (902) 3,447 (3,269) 120 (924) 14 (41) 0 0 0 0 54 694 (137)
   of which loans held-for-sale  1,576 360 (855) 3,394 (3,222) 120 (921) 25 41 0 0 0 0 44 562 (104)
Total assets at fair value  16,364 2,071 (6,388) 10,284 (9,970) 1,201 (4,173) (112) 609 0 221 0 0 471 10,578 (66)
Liabilities (CHF million)   
Customer deposits 448 0 0 0 0 0 0 0 (18) 0 0 0 (14) (22) 394 (29)
Obligation to return securities received as collateral 101 0 0 73 (164) 0 0 0 0 0 0 0 0 4 14 0
Trading liabilities 4,246 1,007 (2,703) 45 (56) 1,135 (1,498) 340 138 0 0 0 0 155 2,809 653
   of which derivatives  4,191 838 (2,553) 19 (8) 1,135 (1,498) 340 166 0 0 0 0 154 2,784 629
      of which equity/index-related derivatives  2,010 562 (1,498) 0 0 581 (644) 353 352 0 0 0 0 71 1,787 712
Short-term borrowings 701 359 (550) 0 0 1,766 (1,363) (35) 128 0 0 0 0 26 1,032 72
Long-term debt 7,286 4,767 (6,698) 0 0 11,323 (6,863) (36) (324) 0 0 0 (49) 270 9,676 (31)
   of which structured notes over one year and up to two years  1,133 1,802 (1,979) 0 0 2,052 (1,663) (26) 104 0 0 (1) (1) 43 1,464 (2)
   of which structured notes over two years  5,526 2,965 (4,314) 0 0 7,540 (5,038) 11 (528) 0 0 1 (47) 202 6,318 (312)
   of which other debt instruments over two years  165 0 (2) 0 0 1,616 (36) 0 105 0 0 0 0 6 1,854 306
Other liabilities 1,250 21 (538) 51 (89) 116 (493) 10 (28) 109 66 0 0 42 517 26
Total liabilities at fair value  14,032 6,154 (10,489) 169 (309) 14,340 (10,217) 279 (104) 109 66 0 (63) 475 14,442 691
Net assets/(liabilities) at fair value  2,332 (4,083) 4,101 10,115 (9,661) (13,139) 6,044 (391) 713 (109) 155 0 63 (4) (3,864) (757)
1
Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 2021, changes in net unrealized gains/(losses) of CHF (841) million and CHF 82 million were recorded in trading revenues and other revenues, respectively, and changes in unrealized (gains)/losses of CHF 2 million were recorded in Gains/(losses) on liabilities relating to credit risk in Accumulated other comprehensive income/(loss).
 
Assets and liabilities measured at fair value on a recurring basis for level 3 (continued)
   
Trading revenues
Other revenues 		Accumulated other
comprehensive income

2020
Balance at
beginning
of period

Transfers
in

Transfers
out


Purchases


Sales


Issuances


Settlements
On
transfers
out

On all
other
On
transfers
out

On all
other
On
transfers
out

On all
other 		Foreign
currency
translation
impact
Balance
at end
of period
Changes in
unrealized
gains/losses 		1
Assets (CHF million)   
Securities received as collateral 1 0 0 213 (106) 0 0 0 0 0 0 0 0 (7) 101 0
Trading assets 7,885 3,255 (3,271) 6,304 (6,740) 2,064 (2,968) 290 1,598 0 5 0 0 (887) 7,535 1,377
   of which debt securities  1,923 2,078 (1,775) 3,811 (3,493) 0 0 1 14 0 5 0 0 (311) 2,253 166
      of which corporates  1,128 703 (809) 2,685 (2,464) 0 0 26 211 0 0 0 0 (210) 1,270 196
   of which derivatives  3,534 995 (1,207) 0 0 2,064 (2,891) 213 1,607 0 1 0 0 (405) 3,911 1,323
      of which equity/index-related products  1,040 255 (519) 0 0 507 (743) 107 725 0 0 0 0 (186) 1,186 752
      of which other derivatives  909 0 0 0 0 303 (326) (1) 291 0 0 0 0 (97) 1,079 310
   of which other trading assets  2,231 119 (246) 2,420 (3,189) 0 (77) 72 76 0 (1) 0 0 (158) 1,247 (87)
Other investments 2,523 8 0 442 (194) 0 0 0 112 0 286 0 0 (123) 3,054 409
   of which other equity investments  1,463 7 0 408 (22) 0 0 0 13 0 293 0 0 (30) 2,132 298
   of which life finance instruments  1,052 0 0 34 (172) 0 0 0 99 0 0 0 0 (93) 920 112
Loans 2 3,835 1,268 (549) 437 (640) 1,170 (1,435) 52 (164) 0 1 0 0 (306) 3,669 (97)
   of which commercial and industrial loans 2 1,402 446 (170) 184 (442) 610 (435) 6 (150) 0 1 0 0 (105) 1,347 (183)
   of which financial institutions  1,201 238 (245) 0 (31) 499 (531) 20 43 0 0 0 0 (112) 1,082 47
Other intangible assets (mortgage servicing rights) 244 0 0 0 0 0 0 0 0 0 (44) 0 0 (20) 180 (44)
Other assets 1,846 1,440 (709) 4,553 (4,595) 547 (995) (17) (14) 0 0 0 0 (231) 1,825 (48)
   of which loans held-for-sale  1,619 1,380 (665) 4,504 (4,567) 547 (994) (41) 4 0 0 0 0 (211) 1,576 (73)
Total assets at fair value  16,334 5,971 (4,529) 11,949 (12,275) 3,781 (5,398) 325 1,532 0 248 0 0 (1,574) 16,364 1,597
Liabilities (CHF million)   
Customer deposits 474 0 0 0 0 0 (27) 0 7 0 0 0 10 (16) 448 46
Obligation to return securities received as collateral 1 0 0 213 (106) 0 0 0 0 0 0 0 0 (7) 101 0
Trading liabilities 3,854 848 (1,614) 471 (310) 2,146 (2,375) 260 1,428 0 0 0 0 (462) 4,246 1,653
   of which derivatives  3,801 829 (1,611) 198 (8) 2,146 (2,375) 259 1,410 0 0 0 0 (458) 4,191 1,646
      of which equity/index-related derivatives  1,921 248 (954) 0 0 776 (536) 167 644 0 0 0 0 (256) 2,010 1,162
      of which credit derivatives  1,211 539 (562) 0 0 1,111 (1,425) 85 502 0 0 0 0 (126) 1,335 277
Short-term borrowings 997 37 (294) 0 0 1,307 (1,189) 4 (62) 0 0 0 0 (99) 701 94
Long-term debt 12,749 3,089 (7,478) 0 0 5,891 (5,622) 568 (690) 0 0 99 (82) (1,238) 7,286 209
   of which structured notes over one year and up to two years  891 689 (676) 0 0 1,022 (690) 40 (38) 0 0 1 (1) (105) 1,133 (19)
   of which structured notes over two years  11,458 1,614 (6,479) 0 0 4,766 (4,577) 532 (683) 0 0 98 (92) (1,111) 5,526 224
Other liabilities 1,367 160 (183) 266 (277) 129 (390) (33) 37 0 289 0 0 (115) 1,250 64
Total liabilities at fair value  19,442 4,134 (9,569) 950 (693) 9,473 (9,603) 799 720 0 289 99 (72) (1,937) 14,032 2,066
Net assets/(liabilities) at fair value  (3,108) 1,837 5,040 10,999 (11,582) (5,692) 4,205 (474) 812 0 (41) (99) 72 363 2,332 (469)
1
Changes in unrealized gains/(losses) on total assets at fair value and changes in unrealized (gains)/losses on total liabilities at fair value relating to assets and liabilities held at period end are included in net revenues or accumulated other comprehensive income. As of 2020, changes in net unrealized gains/(losses) of CHF (667) million and CHF 296 million were recorded in trading revenues and other revenues, respectively, and changes in unrealized (gains)/losses of CHF (98) million were recorded in Gains/(losses) on liabilities relating to credit risk in Accumulated other comprehensive income/(loss).
2
Includes an adjustment of CHF 119 million reflecting the impact of applying the fair value option on certain loans (previously held at amortized cost) at the adoption of the ASU 2019-05.
> Refer to “Note 36 – Financial instruments” in VI – Consolidated financial statements – Credit Suisse Group for qualitative information about level 3 assets and liabilities measured at fair value on a recurring basis.
 
Own credit gains/(losses) on fair value option elected instruments recorded in AOCI
Gains/(losses) attributable to changes in instrument-specific credit risk
    

Gains/(losses) recorded into AOCI 		1 Gains/(losses) recorded
in AOCI transferred
to net income 		1
in 2021 Cumulative 2020 2021 2020
Financial instruments (CHF million)   
Customer deposits 14 (62) (9) 0 0
Short-term borrowings 19 (51) (13) 0 1
Long-term debt 263 (2,087) 24 103 155
   of which treasury debt over two years  (134) (859) 188 0 0
   of which structured notes over two years  361 (1,142) (177) 103 155
Total  296 (2,200) 2 103 156
1
Amounts are reflected gross of tax.
Fair value, unfunded commitments and term of redemption conditions
Fair value, unfunded commitments and term of redemption conditions of investment funds measured at NAV per share
   2021 2020

end of
Non-
redeemable

Redeemable
Total
fair value 		Unfunded
commit-
ments
Non-
redeemable

Redeemable
Total
fair value 		Unfunded
commit-
ments
Fair value of investment funds and unfunded commitments (CHF million)   
Funds held in trading assets and trading liabilities  193 471 664 24 138 519 657 45
Private equity funds 39 0 39 42 92 0 92 77
Hedge funds 12 2 14 1 12 7 19 0
Equity method investment funds 336 15 351 124 322 287 609 226
Funds held in other investments  387 17 404 167 426 294 720 303
Fair value of investment funds and unfunded commitments  580 1 488 2 1,068 191 564 3 813 4 1,377 348
1
CHF 339 million of the underlying assets have known liquidation periods and for CHF 241 million, the timing of liquidation is unknown.
2
CHF 304 million of the redeemable on demand with a notice period of primarily less than 30 days.
3
CHF 190 million of the underlying assets have known liquidation periods and for CHF 374 million, the timing of liquidation is unknown.
4
CHF 540 million of the redeemable on demand with a notice period of primarily less than 30 days. CHF 4 million of the investment funds had restrictions on redemptions, which have a redemption restriction of less than 1 year.
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Text Block]
Assets and liabilities measured at fair value on a nonrecurring basis
end of 2021 Level 1 Level 2 Level 3 Total
Assets (CHF million)
Other investments 0 0 152 152
   of which equity method investments  0 0 118 118
   of which equity securities (without a readily determinable fair value)  0 0 21 21
Net loans 0 12 5 17
Other assets 0 29 110 139
   of which loans held-for-sale  0 28 45 73
   of which premises, equipment and right-of-use assets  0 1 60 61
Total assets recorded at fair value on a nonrecurring basis  0 41 267 308
Liabilities (CHF million)
Other liabilities 0 0 21 21
   of which commitments held-for-sale  0 0 21 21
Total liabilities recorded at fair value on a nonrecurring basis  0 0 21 21
end of 2020
Assets (CHF million)
Other investments 0 217 326 543
   of which equity method investments  0 0 303 303
   of which equity securities (without a readily determinable fair value)  0 217 10 227
Net loans 0 67 4 71
Other assets 0 104 97 201
   of which loans held-for-sale  0 97 39 136
   of which premises, equipment and right-of-use assets  0 4 54 58
Total assets recorded at fair value on a nonrecurring basis  0 388 427 815
Liabilities (CHF million)
Other liabilities 0 0 14 14
   of which commitments held-for-sale  0 0 14 14
Total liabilities recorded at fair value on a nonrecurring basis  0 0 14 14
Fair Value, Option, Quantitative Disclosures [Table Text Block]
Difference between the aggregate fair value and unpaid principal balances of fair value option-elected financial instruments
   2021 2020

end of 		Aggregate
fair
value 		Aggregate
unpaid
principal

Difference 		Aggregate
fair
value 		Aggregate
unpaid
principal

Difference
Financial instruments (CHF million)   
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 68,623 68,565 58 57,994 57,895 99
Loans 10,243 11,035 (792) 11,408 12,079 (671)
Other assets 1 8,624 10,777 (2,153) 7,834 10,090 (2,256)
Due to banks and customer deposits (493) (442) (51) (578) (489) (89)
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (13,307) (13,306) (1) (13,688) (13,672) (16)
Short-term borrowings (10,690) (10,996) 306 (10,740) (10,632) (108)
Long-term debt 2 (67,788) (70,946) 3,158 (70,243) (73,175) 2,932
Other liabilities (1,170) (1,403) 233 (616) (1,569) 953
Non-performing and non-interest-earning loans 3 843 2,657 (1,814) 543 3,364 (2,821)
1
Primarily loans held-for-sale.
2
Long-term debt includes both principal-protected and non-principal protected instruments. For non-principal-protected instruments, the original notional amount has been reported in the aggregate unpaid principal.
3
Included in loans or other assets.
Gains and losses on financial instruments
   2021 2020 2019

in 		Net
gains/
(losses) 		Net
gains/
(losses) 		Net
gains/
(losses)
Financial instruments (CHF million)   
Interest-bearing deposits with banks 24 1 15 1 29 1
   of which related to credit risk  2 0 11
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 638 1 1,198 1 2,696 1
Other investments 304 2 397 2 268 3
   of which related to credit risk  2 1 2
Loans 443 1 510 1 908 1
   of which related to credit risk  (13) (181) 26
Other assets 519 1 489 1 892 1
   of which related to credit risk  133 (106) 111
Due to banks and customer deposits (22) 3 (10) 3 (29) 3
   of which related to credit risk  0 0 1
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions (43) 1 (58) 1 (612) 1
Short-term borrowings 98 3 (687) 3 (50) 3
   of which related to credit risk  2 0 8
Long-term debt (2,644) 3 (2,349) 3 (7,950) 3
   of which related to credit risk  0 11 (5)
Other liabilities 171 3 (20) 3 92 2
   of which related to credit risk  71 (15) 50
1
Primarily recognized in net interest income.
2
Primarily recognized in other revenues.
3
Primarily recognized in trading revenues.
Fair Value, by Balance Sheet Grouping [Table Text Block]
Carrying value and fair value of financial instruments not carried at fair value
    Carrying
value
Fair value
end of Level 1 Level 2 Level 3 Total
2021 (CHF million)
Financial assets 
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 35,283 0 35,283 0 35,283
Loans 286,438 0 281,195 13,722 294,917
Other financial assets 1 179,217 163,307 15,457 494 179,258
Financial liabilities 
Due to banks and customer deposits 408,624 244,155 164,475 0 408,630
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 22,061 0 22,061 0 22,061
Short-term borrowings 14,646 0 14,646 0 14,646
Long-term debt 92,908 0 93,597 1,702 95,299
Other financial liabilities 2 12,542 0 12,105 441 12,546
2020 (CHF million)
Financial assets 
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions 34,282 0 34,282 0 34,282
Loans 285,570 0 281,097 14,534 295,631
Other financial assets 1 154,441 137,763 16,399 302 154,464
Financial liabilities 
Due to banks and customer deposits 403,704 235,477 168,262 0 403,739
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions 23,399 0 23,399 0 23,399
Short-term borrowings 10,568 0 10,569 0 10,569
Long-term debt 90,035 0 90,716 2,317 93,033
Other financial liabilities 2 16,131 0 15,694 403 16,097
1
Primarily includes cash and due from banks, interest-bearing deposits with banks, loans held-for-sale, cash collateral on derivative instruments, interest and fee receivables and non-marketable equity securities.
2
Primarily includes cash collateral on derivative instruments and interest and fee payables.