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CECL - Financial instruments measured at amortized cost and credit losses (Tables) | 6 Months Ended
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Jun. 30, 2023
Financial instruments measured at amortized costs | 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 - 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.
Purchases, reclassifications and sales - loans held at amortized cost | 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.
CECL Macro economic factors | 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.
Allowance for Credit Losses on Other Financing Instruments [Table Text Block] | 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 |
Loans held at amortized cost by internal counterparty rating | 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.
Other Financial Assets Credit Quality Indicators [Table Text Block] | 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.
Financing Receivable, Nonaccrual [Table Text Block] | 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 |
Past Due Financing Receivables [Table Text Block] | 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.
Restructured financing receivables held at amortized cost | 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.
Troubled Debt Restructurings on Financing Receivables Effect [Table Text Block] | 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.
Restructured financing receivables held at amortized cost | 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 |

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