UBS AG

Analysts & Investors

Annual Reporting 2005

Annual Review

Financial Report

Handbook




	UBS financial highlights

	UBS at a glance

	Sources of information





	UBS reporting structure

	Measurement and analysis of performance

	UBS Results





	UBS Performance Indicators





	Results

	Global Wealth Management & Business Banking

	Wealth Management International & Switzerland

	Wealth Management US

	Business Banking Switzerland

	Global Asset Management

	Investment Bank

	Corporate Center





	Industrial Holdings





	Balance sheet and off-balance sheet

	Cash flows





	Accounting principles

	Critical accounting policies





	Financial Statements





	Note 1 Summary of Significant Accounting Policies

	Note 2 Segment Reporting by Business Group

	Note 3 Net Interest and Trading Income

	Note 4 Net Fee and Commission Income

	Note 5 Other Income

	Note 6 Personnel Expenses

	Note 7 General and Administrative Expenses

	Note 8 Earnings per Share (EPS) and Shares Outstanding

	Note 9

	Note 10 Securities Borrowing, Securities Lending, Repurchase and Reverse Repurchase Agreements

	Note 11 Trading Portfolio

	Note 12 Financial Investments (available-for-sale)

	Note 13 Investments in Associates

	Note 14 Property and Equipment

	Note 15 Goodwill and Other Intangible Assets

	Note 16 Other Assets

	Note 17 Due to Banks and Customers

	Note 18 Financial Liabilities Designated at Fair Value and Debt Issued

	Note 19 Other Liabilities

	Note 20 Provisions

	Note 21 Income Taxes

	Note 22 Derivative Instruments

	Note 23 Fiduciary Transactions

	Note 24 Commitments and Contingent Liabilities

	Note 25 Operating Lease Commitments

	Note 26 Pledged Assets and Pledgeable Off-Balance Sheet Securities

	Note 27 Litigation

	Note 28 Financial Instruments Risk Position

	Note 29 Fair Value of Financial Instruments

	Note 30 Pension and Other Post-Retirement Benefit Plans

	Note 31 Equity Participation and Other Compensation Plans

	Note 32 Related Parties

	Note 33 Securitizations

	Note 34 Post-Balance Sheet Events

	Note 35 Significant Subsidiaries and Associates

	Note 36 Invested Assets and Net New Money

	Note 37 Business Combinations

	Note 38 Discontinued Operations

	Note 39 Currency Translation Rates

	Note 40 Swiss Banking Law Requirements

	Note 41 Reconciliation of International Financial Reporting Standards (IFRS) to United States Generally Accepted Accounting Principles (US GAAP)

	Note 42 Additional Disclosures Required under US GAAP and SEC Rules





	Parent Bank Review

	Financial Statements

	Accounting Principles

	Additional Income Statement Information

	Additional Balance Sheet Information

	Off-Balance Sheet and Other Information





	A – Introduction

	B – Selected Financial Data

	C – Information on the Company

	D – Information Required by Industry Guide 3

UBS Homepage > Analysts & Investors > Annual Reporting 2005 > Financial Report > Note 26 Pledged Assets and Pledgeable Off-Balance Sheet Securities

Note 26 Pledged Assets and Pledgeable Off-Balance Sheet Securities

Assets are pledged from the Group’s balance sheet as collateral or for other purposes. Additionally, the Group receives pledgeable securities in various types of transactions. These securities are not recognized on the balance sheet.

Pledged Assets

Assets are pledged as collateral for collateralized credit lines with central banks, loans from central mortgage institutions, deposit guarantees for savings banks, security deposits relating to stock exchange membership and mortgages on the Group’s property. No financial assets are pledged for contingent liabilities. The following table shows additional information about assets pledged or assigned as security for liabilities and assets subject to reservation of title for the years ended 31 December 2005 and 31 December 2004.

	Carrying amount	Related liability	Carrying amount	Related liability
CHF million	31.12.05	31.12.05	31.12.04	31.12.04
Mortgage loans	64	38	175	60
Securities	115,580	88,596	92,440	87,113
Property and equipment	520	683	320	0
Other	474	0	0	0
Total pledged assets	116,638	89,317	92,935	87,173

Pledgeable Off-Balance Sheet Securities

The Group also obtains off-balance sheet securities with the right to sell or repledge them as shown in the table below.


CHF million	31.12.05	31.12.04
Fair value of securities received which can be sold or repledged	1,255,176	968,737
as collateral under reverse repurchase, securities borrowing and lending arrangements,
derivative transactions and other transactions	1,183,238	921,067
in unsecured borrowings which can be sold or repledged	71,938	47,670

thereof sold or repledged	1,002,423	818,151
in connection with financing activities	918,802	737,805
to satisfy commitments under short sale transactions	70,174	57,903
in connection with derivative transactions	9,205	6,714
in connection with other transactions	4,242	15,729

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