Off-balance sheet

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Spreadsheets

Derivative instruments

Note 12 of this report discusses committed amounts of undrawn irrevocable credit facilities, credit guarantees, performance guarantees, documentary credits and similar instruments, as well as commitments to acquire auction rate securities from clients. Refer to UBS's 2008 annual report, which will be published on 19 March 2009, for further information on off-balance sheet items.

Derivative instruments
		31.12.08			30.9.08			31.12.07
	Replacement values		Notional values	Replacement values		Notional values	Replacement values		Notional values
CHF billion	Positive	Negative		Positive	Negative		Positive	Negative
Derivative instruments ¹
Interest rate contracts	375	368	36,571	170	175	38,855	164	162	33,466
Credit derivative contracts	197	185	3,654	149	144	4,574	105	106	5,361
Foreign exchange contracts	222	229	6,006	168	170	8,423	98	99	7,718
Equity / index contracts	35	46	557	50	59	884	40	55	848
Precious metals contracts	6	6	108	6	6	213	6	7	147
Commodity contracts, excluding precious metals contracts	19	18	227	21	20	669	14	14	488
Total	854 ²	852 ³	47,123	564 ²	574 ³	53,618	428 ²	444 ³	48,028
1 Replacement values based on IFRS netting. Refer to note 23 to the financial statements of UBS's 2007 annual report. 2 The Swiss Financial Market Supervisory Authority (FINMA) allows to net, for calculation of adjusted leverage ratio, positive replacement values to CHF 202 billion on 31 December 2008, CHF 174 billion on 30 September 2008 and CHF 136 billion on 31 December 2007. 3 The FINMA allows to net, for calculation of adjusted leverage ratio, negative replacement values to CHF 200 billion on 31 December 2008, CHF 184 billion on 30 September 2008 and CHF 151 billion on 31 December 2007.

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