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Financial instruments (Tables)

12 Months Ended

Dec. 31, 2023

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 2023		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		128		0		–		–		128
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions		0		26,237		0		–		–		26,237
Securities received as collateral		1,778		444		0		–		–		2,222
Trading assets		8,474		48,262		2,508		(37,692)		175		21,727
of which debt securities		2,520		7,253		718		–		34		10,525
of which foreign governments		2,496		5,349		38		–		–		7,883
of which corporates		10		620		515		–		–		1,145
of which RMBS		0		936		57		–		–		993
of which equity securities		3,390		677		100		–		141		4,308
of which derivatives		1,298		40,305		1,179		(37,692)		–		5,090
of which interest rate products		7		18,143		47		–		–		–
of which foreign exchange products		7		13,868		33		–		–		–
of which equity/index-related products		1,281		7,144		484		–		–		–
of which other derivatives		3		75		499		–		–		–
of which other trading assets		1,266		27		511		–		–		1,804
Investment securities		0		4		0		–		–		4
Other investments		0		14		1,943		–		411		2,368
of which other equity investments		0		14		1,493		–		310		1,817
of which life finance instruments		0		0		439		–		–		439
Loans		0		1,578		880		–		–		2,458
of which commercial and industrial loans		0		658		535		–		–		1,193
of which financial institutions		0		466		97		–		–		563
of which government and public institutions		0		453		133		–		–		586
Other intangible assets (mortgage servicing rights)		0		0		305		–		–		305
Other assets		50		2,073		1,845		(210)		–		3,758
of which failed purchases		40		239		49		–		–		328
of which loans held-for-sale		0		1,450		1,712		–		–		3,162
Total assets at fair value		10,302		78,740		7,481		(37,902)		586		59,207
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 a 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 2023		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		100		0		–		–		100
Customer deposits		0		1,366		289		–		–		1,655
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions		0		356		0		–		–		356
Obligation to return securities received as collateral		1,778		444		0		–		–		2,222
Trading liabilities		3,734		43,710		1,202		(39,814)		–		8,832
of which short positions		2,606		102		5		–		–		2,713
of which debt securities		256		99		0		–		–		355
of which foreign governments		256		34		0		–		–		290
of which corporates		0		65		0		–		–		65
of which equity securities		2,350		3		5		–		–		2,358
of which derivatives		1,128		43,607		856		(39,814)		–		5,777
of which interest rate products		1		17,393		94		–		–		–
of which foreign exchange products		13		17,276		2		–		–		–
of which equity/index-related products		1,110		7,450		362		–		–		–
of which credit derivatives		0		1,327		196		–		–		–
of which other derivatives		4		20		202		–		–		–
of which other trading liabilities		0		1		341		–		–		342
Short-term borrowings		0		3,941		71		–		–		4,012
Long-term debt		0		27,903		4,971		–		–		32,874
of which structured notes over one year and up to two years		0		4,027		147		–		–		4,174
of which structured notes over two years		0		18,603		3,489		–		–		22,092
of which other debt instruments over two years		0		2,127		1,288		–		–		3,415
Other liabilities		37		1,405		299		(241)		–		1,500
Total liabilities at fair value		5,549		79,225		6,832		(40,055)		–		51,551
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 a 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 2022		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		198		0		–		–		198
Interest-bearing deposits with banks		0		14		0		–		–		14
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions		100		40,693		0		–		–		40,793
Securities received as collateral		2,318		660		0		–		–		2,978
Trading assets		33,724		105,555		3,828		(77,695)		543		65,955
of which debt securities		13,084		23,288		1,211		–		31		37,614
of which foreign governments		10,117		5,597		86		–		–		15,800
of which corporates		2,718		4,998		413		–		31		8,160
of which RMBS		5		10,417		444		–		–		10,866
of which CDO		197		941		216		–		–		1,354
of which equity securities		11,772		676		222		–		512		13,182
of which derivatives		7,571		79,606		1,661		(77,695)		–		11,143
of which interest rate products		1,617		31,900		671		–		–		–
of which foreign exchange products		24		25,512		17		–		–		–
of which equity/index-related products		5,927		18,669		295		–		–		–
of which credit derivatives		0		3,059		130		–		–		–
of which other derivatives		0		197		548		–		–		–
of which other trading assets		1,297		1,985		734		–		–		4,016
Investment securities		0		796		0		–		–		796
Other investments		0		17		3,313		–		400		3,730
of which other equity investments		0		17		2,725		–		328		3,070
of which life finance instruments		0		0		587		–		–		587
Loans		0		6,318		1,040		–		–		7,358
of which commercial and industrial loans		0		2,381		300		–		–		2,681
of which financial institutions		0		2,591		398		–		–		2,989
of which government and public institutions		0		1,112		254		–		–		1,366
Other intangible assets (mortgage servicing rights)		0		44		359		–		–		403
Other assets		78		8,316		773		(220)		–		8,947
of which failed purchases		54		664		12		–		–		730
of which loans held-for-sale		0		7,165		648		–		–		7,813
Total assets at fair value		36,220		162,611		9,313		(77,915)		943		131,172
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 a 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 2022		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		490		0		–		–		490
Customer deposits		0		2,212		252		–		–		2,464
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions		0		14,133		0		–		–		14,133
Obligation to return securities received as collateral		2,318		660		0		–		–		2,978
Trading liabilities		13,131		83,351		1,881		(80,026)		–		18,337
of which short positions		6,556		2,595		16		–		–		9,167
of which debt securities		3,228		2,232		1		–		–		5,461
of which foreign governments		3,150		272		0		–		–		3,422
of which corporates		53		1,957		1		–		–		2,011
of which equity securities		3,328		363		15		–		–		3,706
of which derivatives		6,575		80,756		1,640		(80,026)		–		8,945
of which interest rate products		1,566		30,288		118		–		–		–
of which foreign exchange products		20		26,180		1		–		–		–
of which equity/index-related products		4,981		20,731		1,083		–		–		–
of which credit derivatives		0		3,157		242		–		–		–
of which other derivatives		5		210		196		–		–		–
of which other trading liabilities		0		0		225		–		–		225
Short-term borrowings		0		6,330		453		–		–		6,783
Long-term debt		0		51,185		6,734		–		–		57,919
of which structured notes over one year and up to two years		0		10,697		439		–		–		11,136
of which structured notes over two years		0		23,409		4,307		–		–		27,716
of which other debt instruments over two years		0		2,961		1,728		–		–		4,689
of which high-trigger instruments		0		7,484		28		–		–		7,512
Other liabilities		133		3,794		203		(1,844)		–		2,286
Total liabilities at fair value		15,582		162,155		9,523		(81,870)		–		105,390
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 a 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
2023		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)
Interest-bearing deposits with banks		0		13		0		0		(13)		0		0		0		0		0		0		0		0		0		0		0
Trading assets		3,828		997		(765)		1,021		(1,660)		575		(658)		18		(570)		0		8		0		0		(286)		2,508		(583)
of which debt securities		1,211		647		(367)		829		(1,247)		0		(28)		(21)		(229)		0		8		0		0		(85)		718		(60)
of which corporates		413		334		(104)		783		(724)		0		0		(15)		(124)		0		0		0		0		(48)		515		21
of which RMBS		444		138		(204)		18		(309)		0		(7)		(5)		4		0		0		0		0		(22)		57		6
of which derivatives		1,661		258		(297)		0		0		575		(558)		40		(366)		0		0		0		0		(134)		1,179		(344)
of which equity/index-related products		295		70		(171)		0		0		254		(111)		32		146		0		0		0		0		(31)		484		212
of which other derivatives		548		1		0		0		0		206		(217)		0		13		0		0		0		0		(52)		499		15
of which other trading assets		734		70		(87)		182		(312)		0		(72)		1		51		0		0		0		0		(56)		511		(78)
Other investments		3,313		321		(920)		27		(281)		0		0		0		(267)		1		(75)		0		0		(176)		1,943		(276)
of which other equity investments		2,725		312		(920)		5		(148)		0		0		0		(277)		1		(75)		0		0		(130)		1,493		(306)
of which life finance instruments		587		0		0		21		(133)		0		0		0		10		0		0		0		0		(46)		439		42
Loans		1,040		694		(86)		1		(33)		91		(714)		0		(73)		0		0		0		0		(40)		880		(125)
of which commercial and industrial loans		300		503		(75)		0		(33)		80		(267)		0		37		0		0		0		0		(10)		535		(94)
of which financial institutions		398		3		0		0		0		11		(288)		1		(10)		0		0		0		0		(18)		97		(6)
of which government and public institutions		254		124		(11)		0		0		0		(144)		(1)		(84)		0		0		0		0		(5)		133		2
Other intangible assets (mortgage servicing rights)		359		40		0		0		0		0		0		0		(66)		0		0		0		0		(28)		305		(66)
Other assets		773		1,752		(256)		229		(332)		79		(224)		41		(193)		0		0		0		0		(24)		1,845		(107)
of which loans held-for-sale		648		1,715		(250)		193		(306)		78		(223)		41		(171)		0		0		0		0		(13)		1,712		(109)
Total assets at fair value		9,313		3,817		(2,027)		1,278		(2,319)		745		(1,596)		59		(1,169)		1		(67)		0		0		(554)		7,481		(1,157)
Liabilities (CHF million)
Customer deposits		252		0		0		0		0		302		(57)		0		(144)		0		0		0		(32)		(32)		289		3
Trading liabilities		1,881		451		(637)		81		(112)		567		(1,407)		125		391		0		0		0		0		(138)		1,202		316
of which derivatives		1,640		451		(637)		0		0		567		(1,408)		125		223		0		0		0		0		(105)		856		244
of which equity/index-related products		1,083		225		(555)		0		0		414		(862)		108		17		0		0		0		0		(68)		362		57
of which credit derivatives		242		194		(56)		0		0		28		(261)		6		54		0		0		0		0		(11)		196		(3)
of which other derivatives		196		1		0		0		0		92		(176)		1		105		0		0		0		0		(17)		202		147
of which other trading liabilities		225		(1)		0		80		(59)		0		1		0		128		0		0		0		0		(33)		341		89
Short-term borrowings		453		163		(205)		0		0		173		(450)		(79)		34		0		0		0		0		(18)		71		(47)
Long-term debt		6,734		2,938		(3,222)		0		0		1,662		(2,958)		200		(116)		0		(28)		35		289		(563)		4,971		135
of which structured notes over two years		4,307		2,202		(2,423)		0		0		1,491		(2,173)		151		7		0		0		33		284		(390)		3,489		308
of which other debt instruments over two years		1,728		92		(138)		0		0		0		(184)		46		(116)		0		0		0		0		(140)		1,288		(184)
Other liabilities		203		327		(2)		9		(53)		103		(113)		1		26		0		(197)		0		0		(5)		299		64
Total liabilities at fair value		9,523		3,879		(4,066)		90		(165)		2,807		(4,985)		247		191		0		(225)		35		257		(756)		6,832		471
Net assets/(liabilities) at fair value		(210)		(62)		2,039		1,188		(2,154)		(2,062)		3,389		(188)		(1,360)		1		158		(35)		(257)		202		649		(1,628)
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 2023, changes in net unrealized gains/(losses) of CHF (1,047) million and CHF (318) million were recorded in trading revenues and other revenues, respectively, and changes in unrealized (gains)/losses of CHF (263) 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
2022		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)
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions		0		0		0		0		0		3		(3)		0		0		0		0		0		0		0		0		0
Securities received as collateral		14		0		0		0		(14)		0		0		0		0		0		0		0		0		0		0		0
Trading assets		4,503		1,818		(2,057)		5,563		(5,184)		967		(1,076)		83		(847)		0		(9)		0		0		67		3,828		(193)
of which debt securities		1,225		1,206		(1,090)		4,622		(4,185)		0		0		(106)		(499)		0		(9)		0		0		47		1,211		215
of which corporates		478		452		(582)		3,933		(3,342)		0		0		(97)		(464)		0		0		0		0		35		413		226
of which RMBS		424		312		(179)		306		(564)		0		0		3		133		0		0		0		0		9		444		4
of which CDO		245		201		(138)		103		(148)		0		0		(5)		(39)		0		(9)		0		0		6		216		(6)
of which derivatives		2,187		406		(824)		0		0		967		(918)		144		(301)		0		0		0		0		0		1,661		(328)
of which interest rate products		624		11		(182)		0		0		89		(66)		(5)		229		0		0		0		0		(29)		671		166
of which equity/index-related products		212		262		(416)		0		0		473		(284)		106		(55)		0		0		0		0		(3)		295		2
of which credit derivatives		264		115		(189)		0		0		65		(142)		31		(19)		0		0		0		0		5		130		1
of which other derivatives		1,034		9		(4)		0		0		330		(317)		4		(537)		0		0		0		0		29		548		(489)
of which other trading assets		896		27		(51)		827		(923)		0		(158)		6		94		0		0		0		0		16		734		(123)
Other investments		3,666		69		(13)		65		(206)		0		0		0		(253)		0		(57)		0		0		42		3,313		(95)
of which other equity investments		2,863		69		0		37		(16)		0		0		0		(190)		0		(65)		0		0		27		2,725		(50)
of which life finance instruments		789		0		0		28		(182)		0		0		0		(63)		0		0		0		0		15		587		(45)
Loans		1,534		566		(470)		16		(45)		63		(667)		39		(46)		0		(6)		0		0		56		1,040		(92)
of which commercial and industrial loans		717		163		(327)		0		(18)		4		(218)		12		(50)		0		(6)		0		0		23		300		(74)
of which financial institutions		465		141		(41)		15		(15)		58		(293)		16		29		0		0		0		0		23		398		9
of which government and public institutions		289		91		(39)		1		0		1		(72)		1		(24)		0		0		0		0		6		254		(25)
Other intangible assets (mortgage servicing rights)		167		187		0		0		0		0		0		0		4		0		0		0		0		1		359		4
Other assets		694		452		(289)		743		(593)		157		(417)		46		(49)		0		3		0		0		26		773		(31)
of which loans held-for-sale		562		379		(232)		724		(591)		157		(415)		15		26		0		0		0		0		23		648		(15)
Total assets at fair value		10,578		3,092		(2,829)		6,387		(6,042)		1,190		(2,163)		168		(1,191)		0		(69)		0		0		192		9,313		(407)
Liabilities (CHF million)
Customer deposits		394		0		0		0		0		0		(18)		0		(49)		0		0		0		(57)		(18)		252		(120)
Obligation to return securities received as collateral		14		0		0		0		(14)		0		0		0		0		0		0		0		0		0		0		0
Trading liabilities		2,809		1,784		(1,381)		33		(106)		844		(2,066)		52		(165)		0		0		0		0		77		1,881		224
of which derivatives		2,542		1,651		(1,353)		0		0		844		(2,066)		51		(98)		0		0		0		0		69		1,640		216
of which equity/index-related products		1,787		615		(1,027)		0		0		476		(520)		(5)		(273)		0		0		0		0		30		1,083		(38)
of which credit derivatives		374		991		(201)		0		0		176		(1,329)		26		172		0		0		0		0		33		242		152
of which other derivatives		298		0		(5)		0		0		143		(174)		3		(79)		0		0		0		0		10		196		(5)
Short-term borrowings		1,032		204		(684)		0		0		785		(815)		(75)		(8)		0		0		0		0		14		453		9
Long-term debt		9,676		3,116		(6,609)		0		0		7,730		(5,575)		(557)		(785)		0		0		(51)		(350)		139		6,734		(422)
of which structured notes over two years		6,318		2,502		(4,930)		0		0		6,589		(4,729)		(418)		(737)		0		0		(49)		(344)		105		4,307		(487)
of which other debt instruments over two years		1,854		0		0		0		0		166		(279)		0		(38)		0		0		0		0		25		1,728		83
Other liabilities		517		126		(305)		22		(89)		110		(136)		82		(90)		(46)		1		0		0		11		203		11
Total liabilities at fair value		14,442		5,230		(8,979)		55		(209)		9,469		(8,610)		(498)		(1,097)		(46)		1		(51)		(407)		223		9,523		(298)
Net assets/(liabilities) at fair value		(3,864)		(2,138)		6,150		6,332		(5,833)		(8,279)		6,447		666		(94)		46		(70)		51		407		(31)		(210)		(109)
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 2022, changes in net unrealized gains/(losses) of CHF (472) million and CHF (50) million were recorded in trading revenues and other revenues, respectively, and changes in unrealized (gains)/losses of CHF 413 million were recorded in gains/(losses) on liabilities relating to credit risk in accumulated other comprehensive income/(loss).

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 2023		Fair value		Valuation technique		Unobservable input		Minimum value		Maximum value		Weighted average	1
CHF million, except where indicated
Trading assets		2,508
of which debt securities		718
of which corporates		515
of which		82		Discounted cash flow		Credit spread, in bp		35		668		585
of which		5		Market comparable		Price, in %		0		101		13
of which		1		Option model		Correlation, in %		(50)		100		69
						Credit spread, in bp		30		148		0
						Mean reversion, in %		7		25		0
						Price, in %		30		100		38
						Volatility, in %		5		142		40
of which		411		Price		Price, in %		76		126		102
of which RMBS		57		Discounted cash flow		Discount rate, in %		8		19		16
of which derivatives		1,179
of which equity/index-related products		484
of which		356		Option model		Correlation, in %		(50)		100		69
						Mean reversion, in %	3	7		25		16
						Volatility, in %		5		142		37
of which		90		Price		Price, in %		95		95		95
of which other derivatives		499		Discounted cash flow		Market implied life expectancy, in years		2		12		6
						UK mortality, in %		75		141		100
of which other trading assets		511
of which		372		Discounted cash flow		Market implied life expectancy, in years		3		12		6
of which		127		Market comparable		Price, in %		0		105		8
of which		11		Option model		Mortality rate, in %		0		70		6
Other investments		1,943
of which other equity investments		1,493
of which		1,065		Market comparable		Price, in actuals		0		100		7
of which		1		Option model		Price, in actuals		98		693		396
of which		417		Price		Price, in actuals		0		9,271		1,050
of which life finance instruments		439		Discounted cash flow		Market implied life expectancy, in years		2		14		6
Loans		880
of which commercial and industrial loans		535
of which		435		Discounted cash flow		Credit spread, in bp		19		444		41
of which		11		Market comparable		Price, in %		76		76		76
of which		90		Price		Price, in %		11		97		58
of which financial institutions		97
of which		33		Discounted cash flow		Credit spread, in bp		159		506		217
of which		62		Price		Price, in %		23		75		43
of which government and public institutions		133
of which		126		Discounted cash flow		Credit spread, in bp		154		1,217		864
of which		6		Price		Price, in %		56		56		56
Other assets		1,845
of which loans held-for-sale		1,712
of which		229		Discounted cash flow		Credit spread, in bp		315		380		316
						Recovery rate, in %		65		65		65
of which		1,314		Market comparable		Price, in %		0		120		70
of which		144		Price		Price, in %		0		91		85
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 Bank 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 assets measured at fair value on a recurring basis (continued)

end of 2022		Fair value		Valuation technique		Unobservable input		Minimum value		Maximum value		Weighted average	1
CHF million, except where indicated
Trading assets		3,828
of which debt securities		1,211
of which corporates		413
of which		118		Discounted cash flow		Credit spread, in bp		10		7,589		620
						Price, in %		0		101		53
of which		75		Market comparable		Price, in %		0		101		51
						Price, in actuals		1		218		29
of which		216		Price		Price, in %		30		126		87
						Price, in actuals		0		11,640		2,203
of which RMBS		444		Discounted cash flow		Discount rate, in %		3		33		12
of which derivatives		1,661
of which interest rate products		671
of which		1		Discounted cash flow		Volatility, in %		95		110		103
of which		662		Option model		Contingent probability, in %		95		95		95
						Mean reversion, in %	2	25		25		25
						Prepayment rate, in %		14		19		17
						Volatility, in %		(3)		1		(1)
of which other derivatives		548		Discounted cash flow		Market implied life expectancy, in years		2		13		6
						UK mortality, in %		74		139		99
of which other trading assets		734
of which		458		Discounted cash flow		Market implied life expectancy, in years		3		13		6
						Tax swap rate, in %		30		30		30
of which		251		Market comparable		Price, in %		0		109		27
of which		25		Option model		Mortality rate, in %		0		70		6
Other investments		3,313
of which other equity investments		2,725
of which		2,443		Market comparable		Price, in actuals		0		275		109
of which		174		Price		Price, in actuals		1		15		13
of which		46		Discounted cash flow		Discount rate, in %		8		8		8
of which life finance instruments		587		Discounted cash flow		Market implied life expectancy, in years		2		15		6
Loans		1,040
of which commercial and industrial loans		300
of which		124		Discounted cash flow		Credit spread, in bp		280		2,596		756
of which		22		Market comparable		Price, in %		74		74		74
of which		153		Price		Price, in %		6		100		53
of which financial institutions		398
of which		282		Discounted cash flow		Credit spread, in bp		242		1,278		497
of which		115		Price		Price, in %		22		72		66
of which government and public institutions		254
of which		158		Discounted cash flow		Credit spread, in bp		534		1,339		680
of which		96		Price		Price, in %		35		42		36
Other assets		773
of which loans held-for-sale		648
of which		258		Discounted cash flow		Credit spread, in bp		299		594		368
						Recovery rate, in %		55		55		55
of which		363		Market comparable		Price, in %		0		145		78
of which		14		Price		Price, in %		0		79		59
1 Weighted average is calculated based on the fair value of the instruments.
2 Management's best estimate of the speed at which interest rates will revert to the long-term average.

Quantitative information about level 3 liabilities measured at fair value on a recurring basis

end of 2023		Fair value		Valuation technique		Unobservable input		Minimum value		Maximum value		Weighted average	1
CHF million, except where indicated
Trading liabilities		1,202
of which derivatives		856
of which equity/index-related products		362
of which		338		Option model		Correlation, in %		(50)		100		69
						Volatility, in %		5		142		37
of which		22		Price		Price, in actuals		0		119		17
of which credit derivatives		196
of which		87		Discounted cash flow		Credit spread, in bp		3		2,002		309
						Discount rate, in %		10		10		10
						Recovery rate, in %		14		100		77
of which		106		Price		Price, in %		100		403		106
of which other derivatives		202		Discounted cash flow		Market implied life expectancy, in years		2		12		5
						UK mortality, in %		75		102		97
of which other trading liabilities		341		Option model		Mortality rate, in %		0		70		6
Short-term borrowings		71
of which		48		Option model		Correlation, in %		(50)		100		69
						Volatility, in %		5		142		40
of which		2		Price		Price, in %		11		11		11
Long-term debt		4,971
of which structured notes over two years		3,489
of which		425		Discounted cash flow		Credit spread, in bp		3		255		79
of which		3,062		Option model		Correlation, in %		(50)		100		69
						Credit spread, in bp		30		148		132
						Mean reversion, in %	4	7		25		16
						Unadjusted NAV, in actuals		16		12,069		218
						Volatility, in %		0		142		37
of which other debt instruments over two years		1,288
of which		281		Option model		Credit spread, in bp		34		2,159		313
of which		1,007		Price		Price, in actuals		7		7		7
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 Bank 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.

Quantitative information about level 3 liabilities measured at fair value on a recurring basis (continued)

end of 2022		Fair value		Valuation technique		Unobservable input		Minimum value		Maximum value		Weighted average	1
CHF million, except where indicated
Trading liabilities		1,881
of which derivatives		1,640
of which equity/index-related products		1,083
of which		1,040		Option model		Correlation, in %		(50)		100		71
						Dividend yield, in %		0		13		5
						Fund gap risk, in %	2	0		2		0
						Volatility, in %		5		148		29
of which		31		Price		Price, in actuals		0		1,197		34
of which credit derivatives		242
of which		162		Discounted cash flow		Credit spread, in bp		3		2,149		341
						Discount rate, in %		6		17		11
						Recovery rate, in %		10		100		69
of which		9		Market comparable		Price, in %		71		101		86
of which		10		Option model		Credit spread, in bp		47		1,528		194
of which		3		Price		Price, in %		74		102		101
of which other derivatives		196		Discounted cash flow		Market implied life expectancy, in years		2		18		6
						UK mortality, in %		74		103		97
Short-term borrowings		453
of which		8		Discounted cash flow		Credit spread, in bp		142		276		267
of which		338		Option model		Correlation, in %		(50)		100		75
						Buyback probability, in %	3	50		100		76
						Volatility, in %		5		148		27
of which		94		Price		Price, in %		20		20		20
						Price, in actuals		1,296		1,296		1,296
Long-term debt		6,734
of which structured notes over two years		4,307
of which		508		Discounted cash flow		Credit spread, in bp		10		430		142
of which		3,793		Option model		Buyback probability, in %	3	50		100		76
						Correlation, in %		(50)		100		75
						Credit spread, in bp		27		358		326
						Fund gap risk, in %	2	0		2		0
						Mean reversion, in %	4	25		25		25
						Unadjusted NAV, in actuals		389		416		412
						Volatility, in %		0		148		27
of which		6		Price		Price, in %		17		17		17
of which other debt instruments over two years		1,728
of which		358		Option model		Buyback probability, in %	3	50		100		76
						Credit spread, in bp		50		770		317
						Price, in actuals		8		8		8
of which		1,370		Price		Price, in actuals		8		8		8
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.
3 Estimate of probability of structured notes being put back to the Bank at the option of the investor over the remaining life of the financial instruments.
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		2023		Cumulative		2022		2023		2022
Financial instruments (CHF million)
Customer deposits		(32)		(31)		57		0		0
Short-term borrowings		(21)		(47)		19		1		0
Long-term debt		3,753		(750)		6,787		(9,162)		(31)
of which treasury debt over two years		6,406		3		3,522		(9,025)		0
of which structured notes over two years		(2,094)		(672)		2,667		(137)		(31)
Total		3,700		(828)		6,863		(9,161)		(31)
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

		2023								2022
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		80		95		175		0		128		415		543		14
Private equity funds		88		0		88		52		58		0		58		48
Hedge funds		13		0		13		1		13		1		14		1
Equity method investment funds		299		11		310		82		315		13		328		114
Funds held in other investments		400		11		411		135		386		14		400		163
Total fair value of investment funds and unfunded commitments		480	1	106	2	586		135		514	3	429	4	943		177
1 CHF 290 million of the underlying assets had known liquidation periods and for CHF 190 million, the timing of liquidation was unknown.
2 CHF 63 million was redeemable on demand with a notice period of primarily less than 30 days.
3 CHF 276 million of the underlying assets had known liquidation periods and for CHF 238 million, the timing of liquidation was unknown.
4 CHF 234 million was redeemable on demand with a notice period of primarily less than 30 days.

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Text Block]

Assets and liabilities measured at fair value on a nonrecurring basis

end of 2023		Level 1		Level 2		Level 3		Total
Assets (CHF million)
Other investments		0		0		1,206		1,206
of which equity method investments		0		0		1,200		1,200
Net loans		0		0		13		13
Other assets		0		728		8,903		9,631
of which loans held-for-sale		0		728		8,189		8,917
Total assets recorded at fair value on a nonrecurring basis		0		728		10,122		10,850
Liabilities (CHF million)
Other liabilities		0		203		529		732
of which commitments held-for-sale		0		203		529		732
Total liabilities recorded at fair value on a nonrecurring basis		0		203		529		732
end of 2022
Assets (CHF million)
Other investments		0		259		106		365
of which equity method investments		0		0		78		78
of which equity securities (without a readily determinable fair value)		0		259		28		287
Net loans		0		14		1		15
Other assets		0		39		44		83
of which loans held-for-sale		0		39		32		71
of which real estate held-for-sale		0		0		12		12
Total assets recorded at fair value on a nonrecurring basis		0		312		151		463
Liabilities (CHF million)
Other liabilities		0		2		21		23
of which commitments held-for-sale		0		2		21		23
Total liabilities recorded at fair value on a nonrecurring basis		0		2		21		23

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 2023		Fair value		Valuation technique		Unobservable input		Minimum value		Maximum value		Weighted average	1
Assets (CHF million, except where indicated)
Other investments		1,206
of which equity method investments		1,200
of which		1,062		Market comparable		Price, in actuals		1		2,095		138
of which		138		Discounted cash flow		Discount rate, in %		8		10		8
Other assets		8,903
of which loans held-for-sale		8,189
of which		6,966		Market comparable		Price, in actuals		82		8,988		84
of which		673		Discounted cash flow		Credit spread, in bp		6		2,471		614
of which		480		Market comparable		Price, in %		0		98		93
of which		71		Discounted cash flow		Discount rate, in %		9		10		9
Liabilities (CHF million, except where indicated)
Other liabilities		529
of which commitments held-for-sale		529
of which		527		Market comparable		Price, in %		0		100		83
of which		2		Discounted cash flow		Credit spread, in bp		226		549		236
end of 2022
Assets (CHF million, except where indicated)
Other investments		106
of which equity method investments		78		Discounted cash flow		Discount rate, in %		8		18		15
of which equity securities    (without a readily determinable fair value)		28
of which		13		Discounted cash flow		Discount rate, in %		12		16		14
of which		13		Market comparable		Price, in actuals		3		6,181		1,310
Other assets		44
of which loans held-for-sale		32		Market comparable		Price, in %		90		90		90
of which real estate held-for-sale		12		Market comparable		Price, in actuals		0		144		55
Liabilities (CHF million, except where indicated)
Other liabilities		21
of which commitments held-for-sale		21		Market comparable		Price, in %		87		96		90
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

		2023						2022
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		26,237		26,045		192		40,793		40,665		128
Loans		2,458		3,097		(639)		7,358		8,241		(883)
Other assets 1		3,490		5,132		(1,642)		8,544		10,937		(2,393)
Due to banks and customer deposits		(331)		(371)		40		(458)		(562)		104
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions		(356)		(357)		1		(14,133)		(14,024)		(109)
Short-term borrowings		(4,012)		(3,988)		(24)		(6,783)		(6,892)		109
Long-term debt 2		(32,874)		(36,723)		3,849		(57,919)		(71,891)		13,972
Other liabilities		(218)		(334)		116		(888)		(1,043)		155
Non-accrual loans 3,4		511		1,352		(841)		733		2,213		(1,480)
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 Generally, a loan is deemed non-accrual when the contractual payments of principal and/or interest are more than 90 days past due.
4 Included in loans or other assets.

Gains and losses on financial instruments

		2023		2022		2021
in		Net gains/ (losses)		Net gains/ (losses)		Net gains/ (losses)
Financial instruments (CHF million)
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions		1,718	1	1,450	1	638	1
Other investments		(199)	2	(51)	3	304	3
of which related to credit risk		0		(3)		2
Loans		308	1	163	1	443	1
of which related to credit risk		89		(239)		(13)
Other assets		37	1	246	1	519	1
of which related to credit risk		(312)		(202)		133
Due to banks and customer deposits		(71)	2	(44)	2	(22)	3
of which related to credit risk		(3)		(1)		0
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions		(151)	1	(156)	1	(43)	1
Short-term borrowings		(495)	2	1,916	2	98	2
of which related to credit risk		2		1		2
Long-term debt		9,414	3	6,767	2	(2,644)	2
of which related to credit risk		4		3		0
Other liabilities		(88)	2	54	2	171	2
of which related to credit risk		(207)		(164)		71
1 Primarily recognized in net interest income.
2 Primarily recognized in trading revenues.
3 Primarily recognized in other 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
2023 (CHF million)
Financial assets
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions		20,977		0		20,977		0		20,977
Investment securities		1,416		1,246		161		0		1,407
Loans 1		210,132		0		66,697		140,132		206,829
Other financial assets 2		148,197		125,252		12,571		10,433		148,256
Financial liabilities
Due to banks and customer deposits		208,624		108,417		100,146		0		208,563
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions		598		0		598		0		598
Short-term borrowings		43,625		0		43,625		0		43,625
Long-term debt		95,610		0		94,343		3,092		97,435
Other financial liabilities 3		7,470		0		7,269		206		7,475
2022 (CHF million)
Financial assets
Central bank funds sold, securities purchased under resale agreements and securities borrowing transactions		18,005		0		18,005		0		18,005
Investment securities		921		911		0		0		911
Loans		256,825		0		107,101	4	146,677	4	253,778
Other financial assets 2		91,451		68,104		20,246		2,922		91,272
Financial liabilities
Due to banks and customer deposits		243,506		149,696		93,714		0		243,410
Central bank funds purchased, securities sold under repurchase agreements and securities lending transactions		6,238		0		6,238		0		6,238
Short-term borrowings		7,705		0		7,703		0		7,703
Long-term debt		92,742		0		73,596		13,366		86,962
Other financial liabilities 3		8,551		0		7,984		523		8,507
1 As a result of the acquisition, Credit Suisse has applied a change in estimate to align the discount rate for the fair value determination of the Swiss accrual loan book to that of UBS.
2 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.
3 Primarily includes cash collateral on derivative instruments and interest and fees payable.
4 Credit Suisse has aligned the fair value levelling of the Swiss accrual loan book to that of UBS, resulting in a reclassification of CHF 133.9 billion from level 2 to level 3.

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