XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.23.3

CECL - Financial instruments measured at amortized cost and credit losses | 6 Months Ended
--- | ---
Jun. 30, 2023
Financial instruments measured at amortized cost and credit losses | 13 Financial instruments measured at amortized cost and credit losses This disclosure provides an overview of the Bank’s balance sheet positions that include financial assets carried at amortized cost that are subject to the current expected credit loss (CECL) accounting guidance. As of the end of 6M23, the Bank had no purchased financial assets with more than insignificant credit deterioration since origination. > Refer to “Note 1 – Summary of significant accounting policies” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the accounting of financial assets and off-balance sheet credit exposure subject to the CECL accounting guidance. Overview of financial instruments measured at amortized cost – by balance sheet position
|  | 6M23 |  | 2022 |
end of |  | Amortized cost basis | 1 | Allowance for credit losses |  | Net carrying value |  | Amortized cost basis | 1 | Allowance for credit losses |  | Net carrying value |
CHF million
Cash and due from banks |  | 100,001 |  | (4) |  | 99,997 |  | 67,548 |  | 0 |  | 67,548 |
Interest-bearing deposits with banks |  | 323 | 2 | 0 |  | 323 |  | 373 | 4 | 0 |  | 373 |
Securities purchased under resale agreements and securities borrowing transactions |  | 21,086 |  | 0 |  | 21,086 |  | 18,005 | 4 | 0 |  | 18,005 |
Debt securities held-to-maturity |  | 1,498 | 2 | 0 |  | 1,498 |  | 921 | 4 | 0 |  | 921 |
Loans |  | 248,253 | 2,3 | (1,522) |  | 246,731 |  | 262,108 | 4,5 | (1,362) |  | 260,746 |
Brokerage receivables |  | 4,005 |  | 0 |  | 4,005 |  | 17,899 |  | (4,081) |  | 13,818 |
Other assets |  | 15,848 |  | (39) |  | 15,809 |  | 23,521 |  | (37) |  | 23,484 |
Total |  | 391,014 |  | (1,565) |  | 389,449 |  | 390,375 |  | (5,480) |  | 384,895 |
1 Net of unearned income/deferred expenses, as applicable.
2 Excluded accrued interest in the total amount of CHF 592 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million related to interest-bearing deposits with banks, CHF 18 million to debt securities held-to-maturity and CHF 573 million to loans. These accrued interest balances are reported in other assets.
3 Included interest of CHF 106 million on non-accrual loans which were reported as part of the loans' amortized cost balance.
4 Excluded accrued interest in the total amount of CHF 549 million, with no related allowance for credit losses. Of the accrued interest balance, CHF 1 million related to interest-bearing deposits with banks, CHF 4 million to securities purchased under resale agreements and securities borrowing transactions, CHF 10 million to debt securities held-to-maturity and CHF 534 million to loans. These accrued interest balances are reported in other assets.
5 Included interest of CHF 102 million on non-accrual loans which were reported as part of the loans' amortized cost balance.
Allowance for credit losses Estimating expected credit losses – overview > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on key elements and processes of estimating expected credit losses on non-impaired and impaired credit exposures. Macroeconomic scenarios The estimation and application of forward-looking information requires quantitative analysis and significant expert judgment. Since the acquisition by UBS, this estimation process and related analysis and procedures are embedded in a group-wide process. As part of this group-wide process, the Bank has aligned its scenarios, scenario weightings and model inputs to those used by UBS. As of the end of 6M23, the Bank’s estimation of expected credit losses is based on a discounted probability-weighted estimate that considers three future macroeconomic scenarios: a baseline scenario, a mild downside scenario (mild debt crisis) and a severe downside scenario (stagflationary geopolitical crisis). The baseline scenario represents the most likely outcome. The other scenarios represent more pessimistic outcomes. The scenarios are probability-weighted according to the Bank’s best estimate of their relative likelihood based on historical frequency, an assessment of the current business and credit cycles as well as the macroeconomic factor trends. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on macroeconomic scenarios applied by the Bank prior to the acquisition by UBS. The scenario design team within the Bank’s Enterprise Risk Management (ERM) function determines the macroeconomic factors (MEFs) and market projections that are relevant for the Bank’s three scenarios across the overall credit portfolio subject to the CECL accounting guidance. The scenario design team formulates the baseline and downside scenario projections used for the calculation of expected credit losses from group-internal forecasts obtained. For factors where no group-internal forecasts are available, the Bank’s global chief investment office in-house economic research forecasts and, where deemed appropriate, external sources such as the Bloomberg consensus of economist forecasts (covering the views of other investment banks and external economic consultancies), forecasts from nonpartisan think tanks, major central banks and multilateral institutions, such as the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD) and the World Bank are used. For factors where no group-established, in-house or credible external forecasts are available, an internal model is used to calibrate the baseline and/or downside scenario projections. These three scenario projections are subject to a review and challenge process and any feedback from this process is incorporated into the scenario projections by the ERM scenario design team. The CECL scenario design working group is the governance forum. The working group performs an additional review and challenge and subsequently approves the MEFs and related market projections. Current-period estimate of expected credit losses on non-impaired credit exposures One of the most significant judgments involved in estimating the Bank’s allowance for credit losses relates to the macroeconomic forecasts used to estimate credit losses over the forecast period, with modeled credit losses being driven primarily by a set of 37 MEFs. The key MEFs used in each of the macroeconomic scenarios for the calculation of the expected credit losses include, but are not limited to, GDP and industrial production growth rates. These MEFs are used in the portfolio- and region-specific CECL models and have been selected based on statistical criteria and expert judgment to explain expected credit losses. The table “Selected macroeconomic factors” includes the Bank’s forecast of selected MEFs for 2023 and 2024, as estimated as of the end of 6M23. The comparative information includes the forecast of MEFs selected and estimated as of the end of 2022. As of the end of 6M23, the forecast macroeconomic scenarios were weighted 60% for the baseline, 15% for the mild debt crisis and 25% for the stagflationary geopolitical crisis scenario. As of the end of 2022, for the previously applied scenarios, the forecast macroeconomic scenarios were weighted 50% for the baseline, 40% for the downside and 10% for the upside scenario. The MEFs included in the table represent the four-quarter average forecasts for 2023 and 2024 at the end of each reporting period. These MEFs forecasts are recalibrated on a quarterly basis. The macroeconomic and market variable projections incorporate adjustments to reflect the impact of monetary policy tightening by the world’s major central banks in response to persistent high inflation rates, continued pressure on real purchasing power due to rising prices and fading fiscal support. While GDP and industrial production growth rates are significant inputs to the forecast models, a range of other inputs are also incorporated for all three scenarios to provide projections for future economic and market conditions. Given the complex nature of the forecasting process, no single economic variable is viewed in isolation or independently of other inputs. Selected macroeconomic factors
end of 6M23 |  | Forecast 2023 |  | Forecast 2024 |
US real GDP growth rate (%) |  |  |  |  |
Baseline |  | 0.7 |  | 0.3 |
Mild debt crisis |  | 0.4 |  | (0.7) |
Stagflationary geopolitical crisis |  | (1.2) |  | (3.0) |
World industrial production (%) |  |  |  |  |
Baseline |  | 1.2 |  | 3.3 |
Mild debt crisis |  | (2.0) |  | (2.0) |
Stagflationary geopolitical crisis |  | (4.5) |  | (1.4) |
China real GDP growth rate (%) |  |  |  |  |
Baseline |  | 5.2 |  | 4.7 |
Mild debt crisis |  | 3.7 |  | 2.4 |
Stagflationary geopolitical crisis |  | 1.4 |  | (0.9) |
EU nominal GDP growth rate (%) |  |  |  |  |
Baseline |  | 4.1 |  | 3.7 |
Mild debt crisis |  | 2.8 |  | (0.7) |
Stagflationary geopolitical crisis |  | 5.3 |  | 2.9 |
Swiss nominal GDP growth rate (%) |  |  |  |  |
Baseline |  | 3.3 |  | 2.7 |
Mild debt crisis |  | 1.7 |  | (0.9) |
Stagflationary geopolitical crisis |  | 2.4 |  | 1.6 |
Forecasts represent the four-quarter average estimate of the respective macroeconomic factor as determined at the end of each reporting period.
Selected macroeconomic factors (continued)
end of 2022 |  | Forecast 2023 |  | Forecast 2024 |
US real GDP growth rate (%) |  |  |  |  |
Downside |  | (1.7) |  | 0.5 |
Baseline |  | 0.9 |  | 1.5 |
Upside |  | 1.2 |  | 2.0 |
World industrial production (%) |  |  |  |  |
Downside |  | (6.8) |  | 0.4 |
Baseline |  | 1.2 |  | 1.9 |
Upside |  | 3.9 |  | 3.9 |
China real GDP growth rate (%) |  |  |  |  |
Downside |  | (0.9) |  | 2.1 |
Baseline |  | 4.5 |  | 4.9 |
Upside |  | 6.2 |  | 5.8 |
EU nominal GDP growth rate (%) |  |  |  |  |
Downside |  | 3.4 |  | 2.3 |
Baseline |  | 5.2 |  | 4.1 |
Upside |  | 5.5 |  | 3.8 |
Swiss nominal GDP growth rate (%) |  |  |  |  |
Downside |  | 0.0 |  | 1.0 |
Baseline |  | 2.7 |  | 2.0 |
Upside |  | 3.2 |  | 2.1 |
Forecasts represent the four-quarter average estimate of the respective macroeconomic factor as determined at the end of each reporting period.
Expected credit losses are not solely derived from MEF projections. Model overlays based on expert judgment are also applied, considering historical loss experience and industry and counterparty reviews, and primarily impacting certain corporate and institutional loan portfolios. Such overlays are designed to address circumstances where in management’s judgment the CECL model outputs are overly sensitive to the effect of economic inputs that exhibit significant deviation from their long-term historical averages. Overlays may also be used to capture judgment on the economic uncertainty from global or regional developments with severe impacts on economies. The Bank’s non-specific allowance for expected credit losses on balance sheet and off-balance sheet credit exposures as of the end of 6M23 increased compared to the end of 2022. In 6M23, certain model overlays were recalibrated primarily in the Swiss Bank and Wealth Management, taking into account additional stress from the Bank’s alignment to UBS’s macroeconomic scenarios, scenario weightings and macroeconomic factor forecasts. Overlays are closely aligned with the UBS macroeconomic forecasts and associated scenario weightings. Loans held at amortized cost The Bank’s loan portfolio is classified into two portfolio segments, consumer loans and corporate & institutional loans. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the main risk characteristics of the Bank’s loans held at amortized cost. Allowance for credit losses – loans held at amortized cost
|  | 6M23 |  | 6M22 |
|  | Consumer |  | Corporate & institutional |  | Total |  | Consumer |  | Corporate & institutional |  | Total |
Allowance for credit losses (CHF million)
Balance at beginning of period |  | 359 |  | 1,007 |  | 1,366 | 1 | 357 |  | 939 |  | 1,296 |
Current-period provision for expected credit losses |  | 81 |  | 172 |  | 253 |  | 43 |  | 92 |  | 135 |
of which provisions for interest 2 |  | 17 |  | 30 |  | 47 |  | 10 |  | 11 |  | 21 |
Gross write-offs |  | (35) |  | (44) |  | (79) |  | (26) |  | (69) |  | (95) |
Recoveries |  | 4 |  | 0 |  | 4 |  | 4 |  | 3 |  | 7 |
Net write-offs |  | (31) |  | (44) |  | (75) |  | (22) |  | (66) |  | (88) |
Foreign currency translation impact and other adjustments, net |  | (7) |  | (15) |  | (22) |  | 5 |  | 11 |  | 16 |
Balance at end of period |  | 402 |  | 1,120 |  | 1,522 |  | 383 |  | 976 |  | 1,359 |
of which individually evaluated |  | 275 |  | 664 |  | 939 |  | 281 |  | 544 |  | 825 |
of which collectively evaluated |  | 127 |  | 456 |  | 583 |  | 102 |  | 432 |  | 534 |
1 Includes a net impact of CHF 4 million from the adoption of new accounting guidance for loan modifications on January 1, 2023, all of which are reflected in corporate & institutional loans.
2 Represents the current-period net provision for accrued interest on non-accrual loans and lease financing transactions which is recognized as a reversal of interest income.
Gross write-offs of CHF 79 million in 6M23 compared to gross write-offs of CHF 95 million in 6M22. In 6M23, gross write-offs in corporate & institutional loans mainly included individual positions in small and medium-sized enterprises, ship finance and aviation finance. Write-offs in consumer loans included primarily Swiss consumer finance loans and a write-off in Swiss mortgages. In 6M22, gross write-offs in corporate & institutional loans mainly reflected the sale of a facility relating to a coal mining company, an exposure to a financial institution impacted by sanctions imposed in connection with Russia’s invasion of Ukraine and individual positions in ship finance, small and medium-sized enterprises and other businesses. Write-offs in consumer loans were mainly related to Swiss consumer finance loans. Purchases, reclassifications and sales – loans held at amortized cost
|  | 6M23 |  | 6M22 |
in |  | Consumer |  | Corporate & institutional |  | Total |  | Consumer |  | Corporate & institutional |  | Total |
Loans held at amortized cost (CHF million)
Purchases 1 |  | 19 |  | 2,302 |  | 2,321 |  | 16 |  | 2,312 |  | 2,328 |
Reclassifications from loans held-for-sale 2 |  | 0 |  | 621 |  | 621 |  | 0 |  | 95 |  | 95 |
Reclassifications to loans held-for-sale 3 |  | 0 |  | 1,312 |  | 1,312 |  | 0 |  | 1,480 |  | 1,480 |
Sales 3 |  | 0 |  | 606 |  | 606 |  | 0 |  | 1,283 |  | 1,283 |
Reclassifications from loans held-for-sale and reclassifications to loans held-for-sale represent non-cash transactions.
1 Includes drawdowns under purchased loan commitments.
2 Reflects loans previously reclassified to held-for-sale that were not sold and were reclassified back to loans held at amortized cost.
3 All loans held at amortized cost which are sold are reclassified to loans held-for-sale on or prior to the date of the sale.
Debt securities held-to-maturity In 6M23, the Bank purchased foreign government debt securities held-to-maturity amounting to CHF 630 million, all related to a portfolio of US Treasury securities. The Bank’s debt securities held-to-maturity with a carrying value of CHF 1,498 million and CHF 921 million as of the end of 6M23 and 2022, respectively, represent a portfolio of US Treasury securities, all rated “AAA” based on the Bank’s internal counterparty rating.US Treasury securities have a history of no credit losses and market price movements mainly reflect changes in market interest rates. Based on this history of no credit losses and the Bank’s view of the current and forecasted economic environment, the Bank expects the risk of non-payment for US Treasuries to be zero and does not have an allowance for credit losses for these securities. The credit quality of these securities is monitored on an ongoing basis and the Bank’s zero-loss expectation is validated on at least a quarterly basis through the Bank’s governance structure involving the Credit Risk and Treasury functions. > Refer to “Note 10 – Investment securities” for further information. Other financial assets The Bank’s other financial assets include certain balance sheet positions held at amortized cost, each representing its own portfolio segment. > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the main risk characteristics of the Bank’s other financial assets held at amortized cost. In 6M23, gross write-offs of other financial assets of CHF 4,031 million primarily included brokerage receivables related to Archegos. In 6M22, the Bank purchased other financial assets held at amortized cost amounting to CHF 381 million, respectively, primarily related to mortgage servicing advances. Allowance for credit losses – other financial assets held at amortized cost
|  | 6M23 |  | 6M22 |
Allowance for credit losses (CHF million)
Balance at beginning of period |  | 4,118 |  | 4,214 |
Current-period provision for expected credit losses |  | 12 |  | (147) |
Gross write-offs |  | (4,031) |  | (4) |
Recoveries |  | 0 |  | 0 |
Net write-offs |  | (4,031) |  | (4) |
Foreign currency translation impact and other adjustments, net |  | (56) |  | 186 |
Balance at end of period |  | 43 |  | 4,249 |
of which individually evaluated |  | 20 |  | 4,230 |
of which collectively evaluated |  | 23 |  | 19 |
Credit quality information > Refer to “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on the Bank’s monitoring of credit quality and internal ratings. Credit quality of loans held at amortized cost The following table presents the Bank’s carrying value of loans held at amortized cost by aggregated internal counterparty credit ratings “investment grade” and “non-investment grade” that are used as credit quality indicators for the purpose of this disclosure, by year of origination. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Consumer loans held at amortized cost by internal counterparty rating
|  | 6M23 |  | 2022 |
|  | Investment grade |  | Non-investment grade |  |  |  | Gross write-offs (YTD) |  | Investment grade |  | Non-investment grade |  |  |
end of |  | AAA to BBB |  | BB to C |  | D |  | Total |  |  |  | AAA to BBB |  | BB to C |  | D |  | Total |
CHF million
Mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 5,118 |  | 394 |  | 16 |  | 5,528 |  | 0 |  | 12,501 |  | 1,540 |  | 8 |  | 14,049 |
2022 / 2021 |  | 11,914 |  | 1,394 |  | 11 |  | 13,319 |  | 0 |  | 21,627 |  | 1,396 |  | 45 |  | 23,068 |
2021 / 2020 |  | 19,465 |  | 1,167 |  | 56 |  | 20,688 |  | 0 |  | 12,869 |  | 1,111 |  | 19 |  | 13,999 |
2020 / 2019 |  | 12,173 |  | 996 |  | 76 |  | 13,245 |  | 0 |  | 10,029 |  | 1,271 |  | 67 |  | 11,367 |
2019 / 2018 |  | 9,539 |  | 1,209 |  | 65 |  | 10,813 |  | 0 |  | 6,609 |  | 650 |  | 36 |  | 7,295 |
Prior years |  | 37,618 |  | 1,910 |  | 168 |  | 39,696 |  | 4 |  | 34,525 |  | 1,931 |  | 210 |  | 36,666 |
Total term loans |  | 95,827 |  | 7,070 |  | 392 |  | 103,289 |  | 4 |  | 98,160 |  | 7,899 |  | 385 |  | 106,444 |
Revolving loans |  | 187 |  | 720 |  | 6 |  | 913 |  | 0 |  | 229 |  | 807 |  | 4 |  | 1,040 |
Total |  | 96,014 |  | 7,790 |  | 398 |  | 104,202 |  | 4 |  | 98,389 |  | 8,706 |  | 389 |  | 107,484 |
Loans collateralized by securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 291 |  | 460 |  | 0 |  | 751 |  | 0 |  | 562 |  | 552 |  | 0 |  | 1,114 |
2022 / 2021 |  | 321 |  | 85 |  | 0 |  | 406 |  | 0 |  | 1,496 |  | 381 |  | 0 |  | 1,877 |
2021 / 2020 |  | 1,341 |  | 330 |  | 0 |  | 1,671 |  | 0 |  | 307 |  | 721 |  | 0 |  | 1,028 |
2020 / 2019 |  | 101 |  | 100 |  | 0 |  | 201 |  | 0 |  | 35 |  | 143 |  | 0 |  | 178 |
2019 / 2018 |  | 1 |  | 150 |  | 0 |  | 151 |  | 0 |  | 16 |  | 25 |  | 0 |  | 41 |
Prior years |  | 730 |  | 130 |  | 0 |  | 860 |  | 0 |  | 803 |  | 188 |  | 0 |  | 991 |
Total term loans |  | 2,785 |  | 1,255 |  | 0 |  | 4,040 |  | 0 |  | 3,219 |  | 2,010 |  | 0 |  | 5,229 |
Revolving loans 1 |  | 25,194 |  | 2,278 |  | 264 |  | 27,736 |  | 0 |  | 30,023 |  | 2,124 |  | 263 |  | 32,410 |
Total |  | 27,979 |  | 3,533 |  | 264 |  | 31,776 |  | 0 |  | 33,242 |  | 4,134 |  | 263 |  | 37,639 |
Consumer finance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 1,824 |  | 584 |  | 1 |  | 2,409 |  | 19 |  | 2,135 |  | 1,005 |  | 8 |  | 3,148 |
2022 / 2021 |  | 1,061 |  | 515 |  | 16 |  | 1,592 |  | 0 |  | 650 |  | 334 |  | 15 |  | 999 |
2021 / 2020 |  | 500 |  | 279 |  | 17 |  | 796 |  | 0 |  | 307 |  | 200 |  | 15 |  | 522 |
2020 / 2019 |  | 244 |  | 183 |  | 15 |  | 442 |  | 0 |  | 120 |  | 183 |  | 18 |  | 321 |
2019 / 2018 |  | 79 |  | 134 |  | 17 |  | 230 |  | 0 |  | 26 |  | 87 |  | 15 |  | 128 |
Prior years |  | 26 |  | 128 |  | 52 |  | 206 |  | 12 |  | 14 |  | 80 |  | 44 |  | 138 |
Total term loans |  | 3,734 |  | 1,823 |  | 118 |  | 5,675 |  | 31 |  | 3,252 |  | 1,889 |  | 115 |  | 5,256 |
Revolving loans |  | 88 |  | 24 |  | 76 |  | 188 |  | 0 |  | 318 |  | 42 |  | 69 |  | 429 |
Total |  | 3,822 |  | 1,847 |  | 194 |  | 5,863 |  | 31 |  | 3,570 |  | 1,931 |  | 184 |  | 5,685 |
Consumer – total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 7,233 |  | 1,438 |  | 17 |  | 8,688 |  | 19 |  | 15,198 |  | 3,097 |  | 16 |  | 18,311 |
2022 / 2021 |  | 13,296 |  | 1,994 |  | 27 |  | 15,317 |  | 0 |  | 23,773 |  | 2,111 |  | 60 |  | 25,944 |
2021 / 2020 |  | 21,306 |  | 1,776 |  | 73 |  | 23,155 |  | 0 |  | 13,483 |  | 2,032 |  | 34 |  | 15,549 |
2020 / 2019 |  | 12,518 |  | 1,279 |  | 91 |  | 13,888 |  | 0 |  | 10,184 |  | 1,597 |  | 85 |  | 11,866 |
2019 / 2018 |  | 9,619 |  | 1,493 |  | 82 |  | 11,194 |  | 0 |  | 6,651 |  | 762 |  | 51 |  | 7,464 |
Prior years |  | 38,374 |  | 2,168 |  | 220 |  | 40,762 |  | 16 |  | 35,342 |  | 2,199 |  | 254 |  | 37,795 |
Total term loans |  | 102,346 |  | 10,148 |  | 510 |  | 113,004 |  | 35 |  | 104,631 |  | 11,798 |  | 500 |  | 116,929 |
Revolving loans |  | 25,469 |  | 3,022 |  | 346 |  | 28,837 |  | 0 |  | 30,570 |  | 2,973 |  | 336 |  | 33,879 |
Total |  | 127,815 |  | 13,170 |  | 856 |  | 141,841 |  | 35 |  | 135,201 |  | 14,771 |  | 836 |  | 150,808 |
1 Lombard loans are generally classified as revolving loans.
Corporate & institutional loans held at amortized cost by internal counterparty rating
|  | 6M23 |  | 2022 |
|  | Investment grade |  | Non-investment grade |  |  |  | Gross write-offs (YTD) |  | Investment grade |  | Non-investment grade |  |  |
end of |  | AAA to BBB |  | BB to C |  | D |  | Total |  |  |  | AAA to BBB |  | BB to C |  | D |  | Total |
CHF million
Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 1,481 |  | 1,358 |  | 31 |  | 2,870 |  | 0 |  | 3,601 |  | 2,499 |  | 5 |  | 6,105 |
2022 / 2021 |  | 2,538 |  | 1,405 |  | 123 |  | 4,066 |  | 0 |  | 7,001 |  | 2,441 |  | 0 |  | 9,442 |
2021 / 2020 |  | 5,422 |  | 1,920 |  | 0 |  | 7,342 |  | 0 |  | 3,071 |  | 855 |  | 4 |  | 3,930 |
2020 / 2019 |  | 2,726 |  | 873 |  | 5 |  | 3,604 |  | 0 |  | 959 |  | 297 |  | 56 |  | 1,312 |
2019 / 2018 |  | 909 |  | 263 |  | 41 |  | 1,213 |  | 0 |  | 698 |  | 219 |  | 1 |  | 918 |
Prior years |  | 2,522 |  | 384 |  | 24 |  | 2,930 |  | 0 |  | 2,109 |  | 217 |  | 24 |  | 2,350 |
Total term loans |  | 15,598 |  | 6,203 |  | 224 |  | 22,025 |  | 0 |  | 17,439 |  | 6,528 |  | 90 |  | 24,057 |
Revolving loans |  | 502 |  | 309 |  | 148 |  | 959 |  | 0 |  | 694 |  | 281 |  | 125 |  | 1,100 |
Total |  | 16,100 |  | 6,512 |  | 372 |  | 22,984 |  | 0 |  | 18,133 |  | 6,809 |  | 215 |  | 25,157 |
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 5,766 |  | 7,253 |  | 144 |  | 13,163 |  | 5 |  | 7,858 |  | 11,181 |  | 263 |  | 19,302 |
2022 / 2021 |  | 3,208 |  | 5,198 |  | 117 |  | 8,523 |  | 12 |  | 3,576 |  | 4,204 |  | 212 |  | 7,992 |
2021 / 2020 |  | 2,791 |  | 3,359 |  | 90 |  | 6,240 |  | 19 |  | 1,810 |  | 2,251 |  | 178 |  | 4,239 |
2020 / 2019 |  | 1,604 |  | 1,674 |  | 166 |  | 3,444 |  | 0 |  | 1,566 |  | 2,359 |  | 130 |  | 4,055 |
2019 / 2018 |  | 1,203 |  | 1,901 |  | 36 |  | 3,140 |  | 0 |  | 742 |  | 1,343 |  | 161 |  | 2,246 |
Prior years |  | 2,360 |  | 2,781 |  | 262 |  | 5,403 |  | 2 |  | 1,619 |  | 2,355 |  | 204 |  | 4,178 |
Total term loans |  | 16,932 |  | 22,166 |  | 815 |  | 39,913 |  | 38 |  | 17,171 |  | 23,693 |  | 1,148 |  | 42,012 |
Revolving loans |  | 9,408 |  | 6,208 |  | 287 |  | 15,903 |  | 5 |  | 10,277 |  | 6,799 |  | 278 |  | 17,354 |
Total |  | 26,340 |  | 28,374 |  | 1,102 |  | 55,816 |  | 43 |  | 27,448 |  | 30,492 |  | 1,426 |  | 59,366 |
Financial institutions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 5,964 |  | 681 |  | 41 |  | 6,686 |  | 0 |  | 4,480 |  | 1,026 |  | 90 |  | 5,596 |
2022 / 2021 |  | 1,078 |  | 597 |  | 2 |  | 1,677 |  | 0 |  | 2,850 |  | 856 |  | 0 |  | 3,706 |
2021 / 2020 |  | 1,976 |  | 397 |  | 0 |  | 2,373 |  | 0 |  | 1,034 |  | 67 |  | 0 |  | 1,101 |
2020 / 2019 |  | 968 |  | 43 |  | 0 |  | 1,011 |  | 0 |  | 602 |  | 7 |  | 0 |  | 609 |
2019 / 2018 |  | 340 |  | 4 |  | 0 |  | 344 |  | 0 |  | 521 |  | 2 |  | 1 |  | 524 |
Prior years |  | 1,166 |  | 40 |  | 1 |  | 1,207 |  | 0 |  | (940) |  | 71 |  | 1 |  | (868) |
Total term loans |  | 11,492 |  | 1,762 |  | 44 |  | 13,298 |  | 0 |  | 8,547 |  | 2,029 |  | 92 |  | 10,668 |
Revolving loans |  | 10,907 |  | 810 |  | 96 |  | 11,813 |  | 1 |  | 10,111 |  | 822 |  | 110 |  | 11,043 |
Total |  | 22,399 |  | 2,572 |  | 140 |  | 25,111 |  | 1 |  | 18,658 |  | 2,851 |  | 202 |  | 21,711 |
Governments and public institutions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 62 |  | 20 |  | 0 |  | 82 |  | 0 |  | 147 |  | 22 |  | 0 |  | 169 |
2022 / 2021 |  | 442 |  | 4 |  | 0 |  | 446 |  | 0 |  | 458 |  | 35 |  | 0 |  | 493 |
2021 / 2020 |  | 101 |  | 31 |  | 0 |  | 132 |  | 0 |  | 126 |  | 40 |  | 0 |  | 166 |
2020 / 2019 |  | 124 |  | 33 |  | 0 |  | 157 |  | 0 |  | 97 |  | 1 |  | 10 |  | 108 |
2019 / 2018 |  | 96 |  | 1 |  | 11 |  | 108 |  | 0 |  | 55 |  | 0 |  | 0 |  | 55 |
Prior years |  | 182 |  | 9 |  | 1 |  | 192 |  | 0 |  | 171 |  | 15 |  | 1 |  | 187 |
Total term loans |  | 1,007 |  | 98 |  | 12 |  | 1,117 |  | 0 |  | 1,054 |  | 113 |  | 11 |  | 1,178 |
Revolving loans |  | 10 |  | 1 |  | 0 |  | 11 |  | 0 |  | 9 |  | 0 |  | 0 |  | 9 |
Total |  | 1,017 |  | 99 |  | 12 |  | 1,128 |  | 0 |  | 1,063 |  | 113 |  | 11 |  | 1,187 |
Corporate & institutional – total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 13,273 |  | 9,312 |  | 216 |  | 22,801 |  | 5 |  | 16,086 |  | 14,728 |  | 358 |  | 31,172 |
2022 / 2021 |  | 7,266 |  | 7,204 |  | 242 |  | 14,712 |  | 12 |  | 13,885 |  | 7,536 |  | 212 |  | 21,633 |
2021 / 2020 |  | 10,290 |  | 5,707 |  | 90 |  | 16,087 |  | 19 |  | 6,041 |  | 3,213 |  | 182 |  | 9,436 |
2020 / 2019 |  | 5,422 |  | 2,623 |  | 171 |  | 8,216 |  | 0 |  | 3,224 |  | 2,664 |  | 196 |  | 6,084 |
2019 / 2018 |  | 2,548 |  | 2,169 |  | 88 |  | 4,805 |  | 0 |  | 2,016 |  | 1,564 |  | 163 |  | 3,743 |
Prior years |  | 6,230 |  | 3,214 |  | 288 |  | 9,732 |  | 2 |  | 2,959 |  | 2,658 |  | 230 |  | 5,847 |
Total term loans |  | 45,029 |  | 30,229 |  | 1,095 |  | 76,353 |  | 38 |  | 44,211 |  | 32,363 |  | 1,341 |  | 77,915 |
Revolving loans |  | 20,827 |  | 7,328 |  | 531 |  | 28,686 |  | 6 |  | 21,091 |  | 7,902 |  | 513 |  | 29,506 |
Total |  | 65,856 |  | 37,557 |  | 1,626 |  | 105,039 |  | 44 |  | 65,302 |  | 40,265 |  | 1,854 |  | 107,421 |
Total loans held at amortized cost by internal counterparty rating
|  | 6M23 |  | 2022 |
|  | Investment grade |  | Non-investment grade |  |  |  | Gross write-offs (YTD) |  | Investment grade |  | Non-investment grade |  |  |
end of |  | AAA to BBB |  | BB to C |  | D |  | Total |  |  |  | AAA to BBB |  | BB to C |  | D |  | Total |
CHF million
Loans held at amortized cost – total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 20,506 |  | 10,750 |  | 233 |  | 31,489 |  | 24 |  | 31,284 |  | 17,825 |  | 374 |  | 49,483 |
2022 / 2021 |  | 20,562 |  | 9,198 |  | 269 |  | 30,029 |  | 12 |  | 37,658 |  | 9,647 |  | 272 |  | 47,577 |
2021 / 2020 |  | 31,596 |  | 7,483 |  | 163 |  | 39,242 |  | 19 |  | 19,524 |  | 5,245 |  | 216 |  | 24,985 |
2020 / 2019 |  | 17,940 |  | 3,902 |  | 262 |  | 22,104 |  | 0 |  | 13,408 |  | 4,261 |  | 281 |  | 17,950 |
2019 / 2018 |  | 12,167 |  | 3,662 |  | 170 |  | 15,999 |  | 0 |  | 8,667 |  | 2,326 |  | 214 |  | 11,207 |
Prior years |  | 44,604 |  | 5,382 |  | 508 |  | 50,494 |  | 18 |  | 38,301 |  | 4,857 |  | 484 |  | 43,642 |
Total term loans |  | 147,375 |  | 40,377 |  | 1,605 |  | 189,357 |  | 73 |  | 148,842 |  | 44,161 |  | 1,841 |  | 194,844 |
Revolving loans |  | 46,296 |  | 10,350 |  | 877 |  | 57,523 |  | 6 |  | 51,661 |  | 10,875 |  | 849 |  | 63,385 |
Total loans to third parties |  | 193,671 |  | 50,727 |  | 2,482 |  | 246,880 |  | 79 |  | 200,503 |  | 55,036 |  | 2,690 |  | 258,229 |
Total loans to entities under common control |  | 1,426 |  | 33 |  | 0 |  | 1,459 |  | 0 |  | 3,920 |  | 30 |  | 0 |  | 3,950 |
Total |  | 195,097 |  | 50,760 |  | 2,482 |  | 248,339 | 1 | 79 |  | 204,423 |  | 55,066 |  | 2,690 |  | 262,179 | 1
1 Excluded accrued interest on loans held at amortized cost of CHF 573 million and CHF 534 million as of the end of 6M23 and 2022, respectively.
Credit quality of other financial assets held at amortized cost The following table presents the Bank’s carrying value of other financial assets held at amortized cost by aggregated internal counterparty credit ratings “investment grade” and “non-investment grade”, by year of origination. Within the line items relating to the origination year, the first year represents the origination year of the current reporting period and the second year represents the origination year of the comparative reporting period. Other financial assets held at amortized cost by internal counterparty rating
|  | 6M23 |  | 2022 |
|  | Investment grade |  | Non-investment grade |  |  |  | Gross write-offs (YTD) |  | Investment grade |  | Non-investment grade |  |  |
end of |  | AAA to BBB |  | BB to C |  | D |  | Total |  |  |  | AAA to BBB |  | BB to C |  | D |  | Total |
CHF million
Other financial assets held at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 / 2022 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
2022 / 2021 |  | 0 |  | 9 |  | 0 |  | 9 |  | 0 |  | 0 |  | 7 |  | 0 |  | 7 |
2021 / 2020 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
2020 / 2019 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
2019 / 2018 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 47 |  | 0 |  | 47 |
Prior years |  | 0 |  | 29 |  | 0 |  | 29 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |
Total term positions |  | 0 |  | 38 |  | 0 |  | 38 |  | 0 |  | 0 |  | 54 |  | 0 |  | 54 |
Revolving positions |  | 0 |  | 1,417 |  | 0 |  | 1,417 |  | 0 |  | 0 |  | 1,711 |  | 0 |  | 1,711 |
Total |  | 0 |  | 1,455 |  | 0 |  | 1,455 |  | 0 |  | 0 |  | 1,765 |  | 0 |  | 1,765 |
Includes primarily mortgage servicing advances and failed purchases.
Past due financial assets Generally, a financial asset is deemed past due if the principal and/or interest payment has not been received on its due date. Loans held at amortized cost – past due
|  | Current |  | Past due |  |  |
end of |  |  |  | Up to 30 days |  | 31–60 days |  | 61–90 days |  | More than 90 days |  | Total |  | Total |
6M23 (CHF million)
Mortgages |  | 103,687 |  | 143 |  | 85 |  | 16 |  | 271 |  | 515 |  | 104,202 |
Loans collateralized by securities |  | 31,483 |  | 4 |  | 1 |  | 4 |  | 284 |  | 293 |  | 31,776 |
Consumer finance |  | 5,403 |  | 232 |  | 14 |  | 56 |  | 158 |  | 460 |  | 5,863 |
Consumer |  | 140,573 |  | 379 |  | 100 |  | 76 |  | 713 |  | 1,268 |  | 141,841 |
Real estate |  | 22,679 |  | 31 |  | 101 |  | 0 |  | 173 |  | 305 |  | 22,984 |
Commercial and industrial loans |  | 54,743 |  | 424 |  | 235 |  | 40 |  | 374 |  | 1,073 |  | 55,816 |
Financial institutions |  | 24,729 |  | 121 |  | 31 |  | 93 |  | 137 |  | 382 |  | 25,111 |
Governments and public institutions |  | 1,113 |  | 3 |  | 1 |  | 0 |  | 11 |  | 15 |  | 1,128 |
Corporate & institutional |  | 103,264 |  | 579 |  | 368 |  | 133 |  | 695 |  | 1,775 |  | 105,039 |
Total loans to third parties |  | 243,837 |  | 958 |  | 468 |  | 209 |  | 1,408 |  | 3,043 |  | 246,880 |
Total loans to entities under common control |  | 1,459 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 1,459 |
Total loans held at amortized cost |  | 245,296 |  | 958 |  | 468 |  | 209 |  | 1,408 |  | 3,043 |  | 248,339 | 1
2022 (CHF million)
Mortgages |  | 107,033 |  | 66 |  | 43 |  | 8 |  | 334 |  | 451 |  | 107,484 |
Loans collateralized by securities |  | 37,308 |  | 43 |  | 4 |  | 3 |  | 281 |  | 331 |  | 37,639 |
Consumer finance |  | 5,147 |  | 248 |  | 82 |  | 63 |  | 145 |  | 538 |  | 5,685 |
Consumer |  | 149,488 |  | 357 |  | 129 |  | 74 |  | 760 |  | 1,320 |  | 150,808 |
Real estate |  | 24,946 |  | 35 |  | 49 |  | 0 |  | 127 |  | 211 |  | 25,157 |
Commercial and industrial loans |  | 58,267 |  | 320 |  | 42 |  | 24 |  | 713 |  | 1,099 |  | 59,366 |
Financial institutions |  | 21,480 |  | 72 |  | 0 |  | 0 |  | 159 |  | 231 |  | 21,711 |
Governments and public institutions |  | 1,171 |  | 5 |  | 0 |  | 0 |  | 11 |  | 16 |  | 1,187 |
Corporate & institutional |  | 105,864 |  | 432 |  | 91 |  | 24 |  | 1,010 |  | 1,557 |  | 107,421 |
Total loans to third parties |  | 255,352 |  | 789 |  | 220 |  | 98 |  | 1,770 |  | 2,877 |  | 258,229 |
Total loans to entities under common control |  | 3,950 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 3,950 |
Total loans held at amortized cost |  | 259,302 |  | 789 |  | 220 |  | 98 |  | 1,770 |  | 2,877 |  | 262,179 | 1
1 Excluded accrued interest on loans held at amortized cost of CHF 573 million and CHF 534 million as of the end of 6M23 and 2022, respectively.
As of the end of 6M23 and 2022, the Bank did not have any loans that were past due more than 90 days and still accruing interest. Also, the Bank did not have any debt securities held-to-maturity or other financial assets held at amortized cost that were past due. Non-accrual financial assets For loans held at amortized cost, non-accrual loans are comprised of non-performing loans and non-interest-earning loans. > Refer to “Note 1 – Summary of significant accounting policies” and “Note 19 – Financial instruments measured at amortized cost and credit losses” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information on non-accrual loans. Non-accrual loans held at amortized cost
|  | 6M23 |  | 6M22 |
|  | Amortized cost of non-accrual assets at beginning of period |  | Amortized cost of non-accrual assets at end of period |  | Interest income recognized |  | Amortized cost of non-accrual assets with no specific allowance at end of period |  | Amortized cost of non-accrual assets at beginning of period |  | Amortized cost of non-accrual assets at end of period |  | Interest income recognized |  | Amortized cost of non-accrual assets with no specific allowance at end of period |
CHF million
Mortgages |  | 383 |  | 396 |  | 5 |  | 64 |  | 572 |  | 503 |  | 1 |  | 74 |
Loans collateralized by securities |  | 283 |  | 285 |  | 0 |  | 2 |  | 262 |  | 238 |  | 2 |  | 2 |
Consumer finance |  | 188 |  | 197 |  | 1 |  | 0 |  | 205 |  | 200 |  | 1 |  | 1 |
Consumer |  | 854 |  | 878 |  | 6 |  | 66 |  | 1,039 |  | 941 |  | 4 |  | 77 |
Real estate |  | 127 |  | 334 |  | 6 |  | 1 |  | 167 |  | 143 |  | 0 |  | 0 |
Commercial and industrial loans |  | 801 |  | 551 |  | 10 |  | 12 |  | 686 |  | 696 |  | 6 |  | 57 |
Financial institutions |  | 159 |  | 138 |  | 13 |  | 0 |  | 41 |  | 192 |  | 0 |  | 3 |
Governments and public institutions |  | 11 |  | 11 |  | 1 |  | 2 |  | 19 |  | 11 |  | 0 |  | 2 |
Corporate & institutional |  | 1,098 |  | 1,034 |  | 30 |  | 15 |  | 913 |  | 1,042 |  | 6 |  | 62 |
Total loans held at amortized cost |  | 1,952 |  | 1,912 |  | 36 |  | 81 |  | 1,952 |  | 1,983 |  | 10 |  | 139 |
Loan modifications in 6M23 On January 1, 2023, the Bank adopted ASU 2022-02, applying the modified retrospective approach. Under the new accounting guidance, enhanced disclosures for certain loan refinancings and restructurings are required when a borrower is experiencing financial difficulty. For 6M23, these additional disclosures are presented in the below tables. Prior period disclosures are presented under the previous accounting guidance for troubled debt restructurings. For the Bank’s loan modifications executed during 6M23, the following table presents the amortized cost base of these modified loans as of the end of 6M23, by major type of loan modification (and any combination thereof), as well as the balances of these modified loans in relation to the overall balance of the respective class of financing receivables. Loan modifications by type
|  | 6M23 |
in |  | Period-end amortized cost (CHF million) |  | In percent of class of financing receivables (%) |
Principal forgiveness (PF)
Mortgages |  | 0.6 |  | 0.00 |
Commercial and industrial loans |  | 0.4 |  | 0.00 |
Total |  | 1.0 |  | – |
Interest rate reduction (IRR)
Mortgages |  | 3.6 |  | 0.00 |
Loans collateralized by securities |  | 4.7 |  | 0.01 |
Consumer finance |  | 0.0 |  | 0.00 |
Real estate |  | 1.2 |  | 0.01 |
Commercial and industrial loans |  | 14.7 |  | 0.03 |
Total |  | 24.2 |  | – |
Term extension (TE)
Mortgages |  | 45.7 |  | 0.04 |
Real estate |  | 63.9 |  | 0.28 |
Commercial and industrial loans |  | 103.5 |  | 0.19 |
Financial institutions |  | 1.2 |  | 0.00 |
Total |  | 214.3 |  | – |
Other than insignificant payment delay (OtIPD)
Commercial and industrial loans |  | 14.4 |  | 0.03 |
Combination of IRR and TE
Commercial and industrial loans |  | 9.7 |  | 0.02 |
Combination of TE and OtIPD
Commercial and industrial loans |  | 37.6 |  | 0.07 |
Total loan modifications
Mortgages |  | 49.9 |  | 0.05 |
Loans collateralized by securities |  | 4.7 |  | 0.01 |
Real estate |  | 65.1 |  | 0.28 |
Commercial and industrial loans |  | 180.3 |  | 0.32 |
Financial institutions |  | 1.2 |  | 0.00 |
Total |  | 301.2 |  | 0.12 |
PF = Principal forgiveness; IRR = Interest rate reduction; TE = Term extension; OtIPD = Other than insignificant payment delay.
The following table presents the modification effect of the Bank’s loan modifications executed in 6M23, by type of loan modification (and any combination thereof). Loan modifications – modification effects
in |  | 6M23 |
Principal forgiveness (PF) (CHF million)
Mortgages |  | 11.7 |
Commercial and industrial loans |  | 7.2 |
Total |  | 18.9 |
Interest rate reduction (IRR) (WAIRR in %)
Mortgages |  | 1.28 |
Loans collateralized by securities |  | 1.98 |
Consumer finance |  | 2.71 |
Real estate |  | 1.50 |
Commercial and industrial loans |  | 1.84 |
Total |  | 1.76 |
Term extension (TE) (WATE in years)
Mortgages |  | 0.09 |
Real estate |  | 1.25 |
Commercial and industrial loans |  | 1.10 |
Financial institutions |  | 0.58 |
Total |  | 0.93 |
Other than insignificant payment delay (OtIPD) (CHF million)
Commercial and industrial loans |  | 3.3 |
Combination of IRR and TE
Commercial and industrial loans |  |  |
Interest rate reduction (%) |  | 0.10 |
Term extension (Years) |  | 0.87 |
Combination of TE and OtIPD
Commercial and industrial loans |  |  |
Term extension (Years) |  | 2.72 |
Payment delay (CHF million) |  | 22.0 |
PF = Principal forgiveness; IRR = Interest rate reduction; TE = Term extension; OtIPD = Other than insignificant payment delay; WAIRR = Weighted average interest rate reduction; WATE = Weighted average term extension.
As of the end of 6M23, none of the loans that had been modified during 6M23 were past due as of the end of 6M23. Furthermore, none of the loans that had been modified in 6M23 defaulted again during the reporting period. Expected credit losses on modified loans that are considered impaired are individually assessed. The performance of such loans following the modification, including any subsequent defaults, is taken into account for the measurement of the respective allowance for expected credit losses. Expected credit losses on modified loans that are considered non-impaired are collectively assessed. The performance of collectively assessed loans is reflected in the probability of default of these loans, which is one of the three main inputs for the Bank’s model-based estimates of the allowance for credit losses on non-impaired loans. Troubled debt restructurings in 6M22 Restructured financing receivables held at amortized cost
|  | 6M22 |
in |  | Number of contracts |  | Recorded investment – pre- modification |  | Recorded investment – post- modification |
CHF million, except where indicated
Real estate |  | 1 |  | 102 |  | 82 |
Commercial and industrial loans |  | 11 |  | 197 |  | 175 |
Total loans |  | 12 |  | 299 |  | 257 |
In 6M22, the Bank did not have any restructured financing receivables held at amortized cost (troubled debt restructurings) that defaulted within 12 months from the date of restructuring.

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2196816 + Details
Name: | us-gaap_FinancingReceivablesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration