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Investment securities | 6 Months Ended
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Jun. 30, 2023
Investment securities | 10 Investment securities
end of |  | 6M23 |  | 2022 |
Investment securities (CHF million)
Debt securities held-to-maturity |  | 1,498 |  | 921 |
Debt securities available-for-sale |  | 854 |  | 796 |
Total investment securities |  | 2,352 |  | 1,717 |
Investment securities by type
|  | 6M23 |  | 2022 |
end of |  | Amortized cost |  | Allowance for credit losses |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value |  | Amortized cost |  | Allowance for credit losses |  | Gross unrealized gains |  | Gross unrealized losses |  | Fair value |
Investment securities by type (CHF million)
Foreign governments |  | 1,498 |  | 0 |  | 0 |  | 31 |  | 1,467 |  | 921 |  | 0 |  | 0 |  | 40 |  | 881 |
Debt securities held-to-maturity |  | 1,498 | 1 | 0 |  | 0 |  | 31 |  | 1,467 |  | 921 | 1 | 0 |  | 0 |  | 40 |  | 881 |
Corporate debt securities |  | 1,004 |  | 0 |  | 0 |  | 150 |  | 854 |  | 952 |  | 0 |  | 0 |  | 156 |  | 796 |
Debt securities available-for-sale |  | 1,004 | 2 | 0 |  | 0 |  | 150 |  | 854 |  | 952 | 2 | 0 |  | 0 |  | 156 |  | 796 |
1 Excludes accrued interest on debt securities held-to-maturity of CHF 18 million and CHF 10 million as of the end of 6M23 and 2022, respectively, with no related allowance for credit losses. Accrued interest is reported in other assets in the consolidated balance sheet.
2 Excludes accrued interest on debt securities available-for-sale of CHF 4 million and CHF 1 million as of the end of 6M23 and 2022, respectively. Accrued interest is reported in other assets in the consolidated balance sheet.
Gross unrealized losses on debt securities and related fair value
|  | Less than 12 months |  | 12 months or more |  | Total |
end of |  | Fair value |  | Gross unrealized losses |  | Fair value |  | Gross unrealized losses |  | Fair value |  | Gross unrealized losses |
6M23 (CHF million)
Corporate debt securities |  | 179 |  | 6 |  | 666 |  | 144 |  | 845 |  | 150 |
Debt securities available-for-sale |  | 179 |  | 6 |  | 666 |  | 144 |  | 845 |  | 150 |
2022 (CHF million)
Corporate debt securities |  | 374 |  | 58 |  | 404 |  | 98 |  | 778 |  | 156 |
Debt securities available-for-sale |  | 374 |  | 58 |  | 404 |  | 98 |  | 778 |  | 156 |
Unrealized losses on debt securities as of the end of 6M23 relate to thirteen high-quality debt security positions held for liquidity purposes. The Bank does not intend to sell these investments nor is it more likely than not that the Bank will be required to sell these securities before the recovery of their amortized cost basis, which may be at maturity. Management determined that the unrealized losses on these debt securities were attributable to changes in market valuation driven by interest rate movements and not to credit-related factors. As a result, no impairment charges were recorded in the consolidated statements of operations. > Refer to “Note 13 – Financial instruments measured at amortized cost and credit losses” for further information on debt securities held-to-maturity. Proceeds from sales, realized gains and realized losses from debt securities available-for-sale
in |  | 6M23 |  | 6M22 |
Sales of debt securities available-for-sale (CHF million)
Proceeds from sales |  | 0 |  | 45 |
Realized losses |  | 0 |  | (6) |
Amortized cost, fair value and average yield of debt securities
|  | Debt securities held-to-maturity |  | Debt securities available-for-sale |
end of |  | Amortized cost |  | Fair value |  | Average yield (in %) |  | Amortized cost |  | Fair value |  | Average yield (in %) |
6M23 (CHF million)
Due within 1 year |  | 0 |  | 0 |  | 0 |  | 8 |  | 8 |  | 0.53 |
Due from 1 to 5 years |  | 1,498 |  | 1,467 |  | 3.67 |  | 285 |  | 251 |  | 0.14 |
Due from 5 to 10 years |  | 0 |  | 0 |  | 0 |  | 711 |  | 595 |  | 0.70 |
Total debt securities |  | 1,498 | 1 | 1,467 |  | 3.67 |  | 1,004 | 2 | 854 |  | 0.54 |
1 Excluded accrued interest on debt securities held-to-maturity of CHF 18 million.
2 Excluded accrued interest on debt securities available-for-sale of CHF 4 million.
Allowance for credit losses on debt securities available-for-sale As of the end of 6M23 and 2022, the Bank had no allowance for credit losses on debt securities available-for-sale. > Refer to “Note 16 – Investment securities” in VIII – Consolidated financial statements – Credit Suisse (Bank) in the Credit Suisse Annual Report 2022 for further information.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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