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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