Off-balance sheet and other information

Assets pledged or assigned as security for own obligations and assets subject to reservation of title
	31.12.08		31.12.07		Change in %
CHF million	Book value	Effective liability	Book value	Effective liability	Book value	Effective liability
Money market paper	7,429	1,300	12,792	2,372	(42)	(45)
Mortgage loans	3,699	2,418	200	199
Securities	50,223	37,083	99,821	49,397	(50)	(25)
Other	8,149	0	8,628		(6)
Total	69,500	40,801	121,441	51,968	(43)	(21)

Financial assets are mainly pledged in securities borrowing and lending transactions, in repurchase and reverse repurchase transactions, under collateralized credit lines with central banks, against loans from mortgage institutions, in connection with derivative transactions and for security deposits relating to stock exchange and clearinghouse memberships.

Commitments and contingent liabilities
CHF million	31.12.08	31.12.07	% change from 31.12.07
Contingent liabilities	286,451	223,105	28
Irrevocable commitments	68,660	104,784	(34)
Liabilities for calls on shares and other equities	145	145	0
Confirmed credits	2,079	2,630	(21)

UBS AG is jointly and severally liable for the value added tax (VAT) liability of Swiss subsidiaries that belong to its VAT group.

UBS has an obligation to deliver 100 million ordinary UBS shares, subject to anti dilution adjustments, in exchange for payment of the par value of these shares, if the SNB incurs a loss on its loan provided to the SNB StabFund upon termination of this fund. If UBS would be required to deliver those shares, UBS intends to settle this obligation using conditional capital (subject to shareholders' approval).

Derivative instruments
	31.12.08			31.12.07
CHF million	PRV ¹	NRV ²	Notional amount CHF bn	PRV ¹	NRV ²	Notional amount CHF bn
Interest rate contracts	377,307	370,346	36,476	167,334	164,325	33,545
Credit derivative contracts	202,357	187,216	3,712	111,898	116,128	5,451
Foreign exchange contracts	222,178	229,656	6,005	99,494	99,613	7,725
Precious metal contracts	5,804	5,697	108	6,363	6,569	147
Equity / Index contracts	28,502	36,208	473	30,400	49,985	760
Commodities contracts, excluding precious metals contracts	27,055	25,387	160	21,181	21,251	484
Total derivative instruments	863,203	854,510	46,934	436,670	457,871	48,112
Replacement value netting	661,402	661,402		312,426	312,426
Replacement values after netting	201,801	193,108		124,244	145,445
1 PRV: Positive replacement value. 2 NRV: Negative replacement value.

Fiduciary transactions
CHF million	31.12.08	31.12.07	% change from 31.12.07
Deposits:
with other banks	36,452	46,074	(21)
with group banks	2,738	2,186	25
Total	39,190	48,260	(19)

Due to UBS pension plans
	For the year ended		% change from
CHF million	31.12.08	31.12.07	31.12.07
Due to UBS pension plans and UBS debt instruments held by pension plans	876	443	98
Securities borrowed from pension plans	0	9,379	(100)

Personnel

Parent Bank personnel was 40,998 on 31 December 2008 and 45,102 on 31 December 2007.

Significant shareholders

Chase Nominees Ltd., London, acting in its capacity as a nominee for other investors, was registered with 7.19% of all shares issued on 31 December 2008, compared with 7.99% at year-end 2007 and 8.81% at year-end 2006. DTC (Cede & Co.), New York, The Depository Trust Company, a US securities clearing organization, was registered as a shareholder for a large number of beneficial owners with 9.89% of all shares issued on 31 December 2008 (14.15% on 31 December 2007).

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