Balance sheet

				% change from
CHF million	Note	31.12.08	31.12.07	31.12.07

Assets
Cash and balances with central banks		32,744	18,793	74
Due from banks	9	64,451	60,907	6
Cash collateral on securities borrowed	10	122,897	207,063	(41)
Reverse repurchase agreements	10	224,648	376,928	(40)
Trading portfolio assets	11	271,838	660,182	(59)
Trading portfolio assets pledged as collateral	11	40,216	114,190	(65)
Positive replacement values	23	854,100	428,217	99
Financial assets designated at fair value	12	12,882	11,765	9
Loans	9	340,308	335,864	1
Financial investments available-for-sale	13	5,248	4,966	6
Accrued income and prepaid expenses		6,141	11,953	(49)
Investments in associates	14	892	1,979	(55)
Property and equipment	15	6,706	7,234	(7)
Goodwill and intangible assets	16	12,935	14,538	(11)
Other assets	17, 22	18,811	20,312	(7)
Total assets		2,014,815	2,274,891	(11)

Liabilities
Due to banks	18	125,628	145,762	(14)
Cash collateral on securities lent	10	14,063	31,621	(56)
Repurchase agreements	10	102,561	305,887	(66)
Trading portfolio liabilities	11	62,431	164,788	(62)
Negative replacement values	23	851,864	443,539	92
Financial liabilities designated at fair value	19	101,546	191,853	(47)
Due to customers	18	474,774	641,892	(26)
Accrued expenses and deferred income		10,196	22,150	(54)
Debt issued	19	197,254	222,077	(11)
Other liabilities	20, 21, 22	33,965	61,496	(45)
Total liabilities		1,974,282	2,231,065	(12)

Equity
Share capital		293	207	42
Share premium		25,250	12,433	103
Net income recognized directly in equity, net of tax		(4,335)	(1,161)	(273)
Revaluation reserve from step acquisitions, net of tax		38	38	0
Retained earnings		14,487	35,795	(60)
Equity classified as obligation to purchase own shares		(46)	(74)	38
Treasury shares		(3,156)	(10,363)	70
Equity attributable to UBS shareholders		32,531	36,875	(12)
Equity attributable to minority interests		8,002	6,951	15
Total equity		40,533	43,826	(8)
Total liabilities and equity		2,014,815	2,274,891	(11)

Top