Note 4 Net Fee & Commission Income

	Quarter ended			% change from		Year to date

CHF million	30.9. 2003	30.6. 2003	30.9. 2002	2Q03	3Q02	30.9. 2003	30.9. 2002


Underwriting fees	492	654	528	(25)	(7)	1,583	1,606
Corporate finance fees	188	153	167	23	13	455	596
Brokerage fees	1,465	1,419	1,419	3	3	4,113	4,644
Investment fund fees	1,031	931	951	11	8	2,844	3,135
Fiduciary fees	60	62	71	(3)	(15)	185	232
Custodian fees	299	305	296	(2)	1	883	985
Portfolio and other management and advisory fees	1,022	911	939	12	9	2,834	3,130
Insurance-related and other fees	94	89	98	6	(4)	286	336


Total security trading and investment activity fees	4,651	4,524	4,469	3	4	13,183	14,664


Credit-related fees and commissions	60	53	80	13	(25)	175	216
Commission income from other services	259	275	242	(6)	7	794	749


Total fee and commission income	4,970	4,852	4,791	2	4	14,152	15,629


Brokerage fees paid	390	356	321	10	21	1,080	1,026
Other	194	183	171	6	13	547	618


Total fee and commission expense	584	539	492	8	19	1,627	1,644


Net fee and commission income	4,386	4,313	4,299	2	2	12,525	13,985