Report of Foreign Issuer (6-k)
May 03 2016 - 6:49AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date: May 3, 2016
UBS Group AG
Commission File Number: 1-36764
UBS AG
Commission File Number: 1-15060
(Registrants' Names)
Bahnhofstrasse 45, Zurich, Switzerland, and
Aeschenvorstadt 1, Basel, Switzerland
(Address of
principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20‑F or Form 40-F.
This Form 6-K consists of the UBS Group AG
(consolidated) regulatory information as of 31 March 2016, published today by
the registrants, which appears immediately following this page.
UBS Group AG (consolidated) regulatory information
First quarter 2016
This document includes
the following disclosures in accordance with Pillar 3 requirements: (i) BIS
Basel III leverage ratio information, (ii) reconciliation
of the IFRS balance sheet to the balance sheet according to the regulatory
scope of consolidation and (iii) information about the composition of our
capital.
®
Refer to our first quarter 2016 report for information on our Swiss
SRB leverage ratio as of 31 March 2016
®
Refer to “UBS Group AG consolidated supplemental disclosures
required under Basel III Pillar 3 regulations” in the “Additional regulatory
information” section of our Annual Report 2015 for more information
BIS Basel III leverage ratio disclosure requirements
The tables
in the following section provide BIS leverage ratio information according to
the current disclosure requirements.
The BIS leverage ratio is calculated by
dividing the period-end tier 1 capital by the period-end leverage ratio
denominator (LRD). The LRD consists of IFRS on-balance sheet assets and
off-balance sheet items. Derivative exposures are adjusted for a number of
items, including replacement value and eligible cash variation margin netting,
the current exposure method add-on and net notional amounts for written credit
derivatives. Moreover, the LRD includes an additional charge for counterparty
credit risk related to securities financing transactions.
The table “Reconciliation of IFRS total
assets to BIS Basel III total on-balance sheet exposures excluding derivatives
and securities financing transactions” below shows the difference between total
IFRS assets per IFRS consolidation scope and the BIS total on-balance sheet
exposures, which are the starting point for calculating the BIS LRD as shown
in the “BIS Basel III leverage ratio common disclosure” table on the next page.
The difference is due to the application of the regulatory scope of
consolidation for the purpose of the BIS calculation. In addition, carrying
values for derivative financial instruments and securities financing
transactions are deducted from IFRS total assets. They are measured differently
under BIS leverage ratio rules and are therefore added back in separate
exposure line items in the “BIS Basel III leverage ratio common disclosure”
table on the next page.
®
Refer to our first quarter 2016 report for
information on our Swiss SRB leverage ratio as of 31 March 2016
®
Refer to the “UBS Group AG consolidated
supplemental disclosures required under Basel III Pillar 3 regulations” section
of our Annual Report 2015 for more information on the regulatory scope of
consolidation
BIS Basel III leverage ratio
As of 31
March 2016, our BIS Basel III leverage ratio was 4.1% on a fully applied basis
and 4.8% on a phase-in basis. The BIS Basel III LRD was CHF 906 billion on a
fully applied basis and CHF 910 billion on a phase-in basis.
®
Refer to our first quarter 2016 report for
information on our BIS Basel III leverage ratio movements
Reconciliation of IFRS total
assets to BIS Basel III total on-balance sheet exposures excluding
derivatives and securities financing transactions
|
CHF million
|
31.3.16
|
On-balance sheet exposures
|
|
IFRS total assets
|
966,873
|
Adjustment for investments in banking, financial, insurance or
commercial entities that are consolidated for accounting purposes but outside
the scope of regulatory consolidation
|
(16,174)
|
Adjustment for investments in banking, financial, insurance or
commercial entities that are outside the scope of consolidation for
accounting purposes but consolidated for regulatory purposes
|
1
|
Adjustment for fiduciary assets recognized on the balance sheet
pursuant to the operative accounting framework but excluded from the leverage
ratio exposure measure
|
0
|
Less carrying value of derivative financial instruments in IFRS
total assets¹
|
(205,998)
|
Less carrying value of securities financing transactions in IFRS
total assets²
|
(122,633)
|
Adjustments to accounting values
|
0
|
On-balance sheet items
excluding derivatives and securities financing transactions, but including
collateral
|
622,069
|
Asset amounts deducted in determining BIS Basel III tier 1
capital
|
(12,822)
|
Total on-balance sheet
exposures (excluding derivatives and securities financing transactions)
|
609,247
|
1 Consists of positive replacement values and cash collateral
receivables on derivative instruments in accordance with the regulatory scope
of consolidation. 2 Consists of cash collateral on securities borrowed,
reverse repurchase agreements, margin loans and prime brokerage receivables
related to securities financing transactions in accordance with the
regulatory scope of consolidation.
|
BIS Basel III
leverage ratio common disclosure
The naming
convention in the following table is based on BIS guidance and does not reflect
the UBS naming convention.
BIS Basel III leverage ratio
common disclosure
|
|
|
|
CHF million, except where
indicated
|
31.3.16
|
|
|
|
|
On-balance sheet exposures
|
|
1
|
On-balance sheet items excluding derivatives and SFTs¹, but
including collateral
|
622,069
|
2
|
(Asset amounts deducted in determining Basel III tier 1 capital)
|
(12,822)
|
3
|
Total on-balance sheet
exposures (excluding derivatives and SFTs¹)
|
609,247
|
|
|
|
|
Derivative exposures
|
|
4
|
Replacement cost associated with all derivatives transactions
(i.e., net of eligible cash variation margin)
|
53,050
|
5
|
Add-on amounts for PFE² associated with all derivatives
transactions
|
93,944
|
6
|
Gross-up for derivatives collateral provided where deducted from
the balance sheet assets pursuant to the operative accounting framework
|
41
|
7
|
(Deductions of receivables assets for cash variation margin
provided in derivatives transactions)
|
(12,965)
|
8
|
(Exempted CCP³ leg of client-cleared trade exposures)
|
(16,628)
|
9
|
Adjusted effective notional amount of all written credit
derivatives⁴
|
182,772
|
10
|
(Adjusted effective notional offsets and add-on deductions for
written credit derivatives)⁵
|
(174,233)
|
11
|
Total derivative exposures
|
125,980
|
|
|
|
|
Securities financing
transaction exposures
|
|
12
|
Gross SFT¹ assets (with no recognition of netting), after
adjusting for sale accounting transactions
|
177,233
|
13
|
(Netted amounts of cash payables and cash receivables of gross
SFT¹ assets)
|
(54,600)
|
14
|
CCR⁶ exposure for SFT¹ assets
|
11,196
|
15
|
Agent transaction exposures
|
0
|
16
|
Total securities financing
transaction exposures
|
133,829
|
|
|
|
|
Other off-balance sheet
exposures
|
|
17
|
Off-balance sheet exposure at gross notional amount
|
112,102
|
18
|
(Adjustments for conversion to credit equivalent amounts)
|
(71,159)
|
19
|
Total off-balance sheet
items
|
40,943
|
|
Total exposures (leverage
ratio denominator), phase-in
|
910,000
|
|
(Additional asset amounts deducted in determining Basel III tier
1 capital fully applied)
|
(4,199)
|
|
Total exposures (leverage
ratio denominator), fully applied
|
905,801
|
|
|
|
|
Capital and total exposures
(leverage ratio denominator), phase-in
|
|
20
|
Tier 1 capital
|
43,541
|
21
|
Total exposures (leverage ratio denominator)
|
910,000
|
|
Leverage ratio
|
|
22
|
Basel III leverage ratio
phase-in (%)
|
4.8
|
|
|
|
|
Capital and total exposures
(leverage ratio denominator), fully applied
|
|
20
|
Tier 1 capital
|
37,438
|
21
|
Total exposures (leverage ratio denominator)
|
905,801
|
|
Leverage ratio
|
|
22
|
Basel III leverage ratio
fully applied (%)
|
4.1
|
1 Securities financing transactions. 2 Potential future
exposure – Current exposure method (CEM add-on) based on notional amounts.
3 Central cleared counterparties. 4 Includes protection sold including
agency transactions. 5 Protection sold can be offset with protection
bought on the same underlying reference entity provided the conditions according
to the Basel III leverage ratio framework and disclosure requirements are
met. 6 Counterparty credit risk.
|
BIS Basel III
leverage ratio summary comparison
The naming convention in the following table is based on BIS
guidance and does not reflect the UBS naming convention.
BIS Basel III leverage ratio
summary comparison
|
CHF million
|
31.3.16
|
1
|
Total consolidated assets as per published financial statements
|
966,873
|
2
|
Adjustment for investments in banking, financial, insurance or
commercial entities that are consolidated for accounting purposes but outside
the scope of regulatory consolidation¹
|
(28,995)
|
3
|
Adjustment for fiduciary assets recognised on the balance sheet
pursuant to the operative accounting framework but excluded from the leverage
ratio exposure measure
|
0
|
4
|
Adjustments for derivative financial instruments
|
(80,018)
|
5
|
Adjustment for securities financing transactions (i.e., repos
and similar secured lending)
|
11,196
|
6
|
Adjustment for off-balance sheet items (i.e., conversion to
credit equivalent amounts of off-balance sheet exposures)
|
40,943
|
7
|
Other adjustments
|
1
|
8
|
Leverage ratio exposure
(leverage ratio denominator), phase-in
|
910,000
|
1 This item includes assets that are deducted from tier 1
capital.
|
BIS Basel III leverage ratio
|
|
|
|
|
CHF million, except where
indicated
|
Phase-in
|
31.3.16
|
31.12.15
|
30.9.15
|
30.6.15
|
Total tier 1 capital
|
43,541
|
44,559
|
44,125
|
40,593
|
BIS total exposures (leverage ratio denominator)
|
910,000
|
904,014
|
941,216
|
954,043
|
BIS Basel III leverage ratio (%)
|
4.8
|
4.9
|
4.7
|
4.3
|
|
|
|
|
|
Fully applied
|
31.3.16
|
31.12.15
|
30.9.15
|
30.6.15
|
Total tier 1 capital
|
37,438
|
36,198
|
36,526
|
34,042
|
BIS total exposures (leverage ratio denominator)
|
905,801
|
897,607
|
935,536
|
949,331
|
BIS Basel III leverage ratio (%)
|
4.1
|
4.0
|
3.9
|
3.6
|
Balance sheet
reconciliation and composition of capital
Table 29:
Reconciliation of
accounting balance sheet to balance sheet under the regulatory scope of
consolidation
The table below provides a
reconciliation of the IFRS balance sheet to the balance sheet according to the
regulatory scope of consolidation as defined by BIS and FINMA. Lines in the
balance sheet under the regulatory scope of consolidation are expanded and
referenced where relevant to display all components that are used in “Table 30:
Composition of capital.”
|
Balance sheet in accordance with IFRS scope of consolidation
|
Effect of deconsolidated entities for regulatory consolidation
|
Effect of additional consolidated entities for regulatory
consolidation
|
Balance sheet in accordance with regulatory scope of
consolidation
|
References¹
|
CHF million
|
31.3.16
|
|
|
|
|
Assets
|
|
|
|
|
|
Cash and balances with central banks
|
105,710
|
|
|
105,710
|
|
Due from banks
|
13,551
|
(291)
|
|
13,261
|
|
Cash collateral on securities borrowed
|
32,432
|
|
|
32,432
|
|
Reverse repurchase agreements
|
73,562
|
|
|
73,562
|
|
Trading portfolio assets
|
105,276
|
(15,706)
|
|
89,570
|
|
Positive replacement values
|
180,518
|
20
|
|
180,538
|
|
Cash collateral receivables on derivative instruments
|
25,460
|
|
|
25,460
|
|
Financial assets designated at fair value
|
40,976
|
|
|
40,976
|
|
Loans
|
304,873
|
37
|
|
304,910
|
|
Financial assets available for sale
|
31,266
|
(78)
|
|
31,189
|
|
Financial assets held to maturity
|
2,889
|
|
|
2,889
|
|
Consolidated participations
|
0
|
166
|
|
166
|
|
Investments in associates
|
953
|
|
|
953
|
|
of which: goodwill
|
347
|
|
|
347
|
4
|
Property, equipment and software
|
7,763
|
(76)
|
|
7,687
|
|
Goodwill and intangible assets
|
6,326
|
|
|
6,326
|
|
of which: goodwill
|
6,030
|
|
1
|
6,031
|
4
|
of which: intangible assets
|
295
|
|
|
295
|
5
|
Deferred tax assets
|
12,192
|
(1)
|
|
12,191
|
|
of which: deferred tax
assets recognized for tax loss carry-forwards
|
7,099
|
(1)
|
|
7,098
|
9
|
of which: deferred tax
assets on temporary differences
|
5,093
|
|
|
5,093
|
12
|
Other assets
|
23,123
|
(245)
|
|
22,878
|
|
of which: net defined
benefit pension and other post-employment assets
|
0
|
|
|
0
|
10
|
Total assets
|
966,873
|
(16,174)
|
1
|
950,700
|
|
Table 29:
Reconciliation of accounting balance sheet to balance sheet under the
regulatory scope of consolidation
(
continued)
|
Balance sheet in accordance with IFRS scope of consolidation
|
Effect of deconsolidated entities for regulatory consolidation
|
Effect of additional consolidated entities for regulatory
consolidation
|
Balance sheet in accordance with regulatory scope of
consolidation
|
References¹
|
CHF million
|
31.3.16
|
|
|
|
|
Liabilities
|
|
|
|
|
|
Due to banks
|
11,350
|
(52)
|
|
11,298
|
|
Cash collateral on securities lent
|
6,353
|
|
|
6,353
|
|
Repurchase agreements
|
6,516
|
|
|
6,516
|
|
Trading portfolio liabilities
|
33,157
|
|
|
33,157
|
|
Negative replacement values
|
179,018
|
(1)
|
|
179,018
|
|
Cash collateral payables on derivative instruments
|
36,690
|
|
|
36,690
|
|
Financial liabilities designated at fair value
|
57,761
|
69
|
|
57,830
|
|
Due to customers
|
401,504
|
(145)
|
|
401,359
|
|
Debt issued
|
101,316
|
(17)
|
|
101,298
|
|
of which: amount eligible
for high-trigger loss-absorbing additional tier 1 capital²
|
4,264
|
|
|
4,264
|
13
|
of which: amount eligible
for low-trigger loss-absorbing additional tier 1 capital²
|
2,360
|
|
|
2,360
|
13
|
of which: amount eligible
for low-trigger loss-absorbing tier 2 capital³
|
10,217
|
|
|
10,217
|
7
|
of which: amount eligible
for capital instruments subject to phase-out from tier 2 capital⁴
|
947
|
|
|
947
|
8
|
Provisions
|
3,961
|
|
|
3,961
|
|
Other liabilities
|
72,461
|
(15,889)
|
|
56,572
|
|
of which: amount eligible
for high-trigger loss-absorbing capital (Deferred Contingent Capital Plan
(DCCP))⁵
|
1,145
|
|
|
1,145
|
13
|
Total liabilities
|
910,088
|
(16,035)
|
|
894,053
|
|
Equity
|
|
|
|
|
|
Share capital
|
385
|
(1)
|
1
|
385
|
1
|
Share premium
|
30,784
|
(0)
|
|
30,784
|
1
|
Treasury shares
|
(2,138)
|
0
|
|
(2,138)
|
3
|
Retained earnings
|
30,041
|
(270)
|
|
29,771
|
2
|
Other comprehensive income recognized directly in equity, net of
tax
|
(4,228)
|
132
|
(1)
|
(4,097)
|
3
|
of which: unrealized gains /
(losses) from cash flow hedges
|
2,151
|
|
|
2,151
|
11
|
Equity attributable to UBS
Group AG shareholders
|
54,845
|
(139)
|
1
|
54,706
|
|
Equity attributable to non-controlling interests
|
1,941
|
1
|
|
1,942
|
6
|
Total equity
|
56,786
|
(138)
|
1
|
56,648
|
|
Total liabilities and equity
|
966,873
|
(16,174)
|
1
|
950,700
|
|
1 References link the lines of this table to the respective
reference numbers provided in the column "References" in
"Table 30: Composition of capital." 2 Represents IFRS book
value. 3 IFRS book value is CHF 10,239 million. 4 IFRS book value is CHF
2,156 million. 5 IFRS book value is CHF 1,198 million. Refer to the
"Compensation" section of our Annual Report 2015 for more
information on the DCCP.
|
Table 30:
Composition of
capital
The table below provides the
“Composition of capital” as defined by BIS and FINMA. The naming convention
does not always reflect UBS’s naming convention used in our external reports.
Reference is made to items reconciling to the balance sheet under the
regulatory scope of consolidation as disclosed in “Table 29: Reconciliation of
accounting balance sheet to balance sheet under the regulatory scope of
consolidation.” Where relevant, the effect of phase-in arrangements is
disclosed as well.
|
|
Numbers phase-in
|
Effect of the
transition phase
|
References¹
|
|
CHF million, except where
indicated
|
31.3.16
|
31.3.16
|
|
1
|
Directly issued qualifying common share (and equivalent for
non-joint stock companies) capital plus related
stock surplus
|
31,169
|
|
1
|
2
|
Retained earnings
|
29,771
|
|
2
|
3
|
Accumulated other comprehensive income (and other
reserves)
|
(6,235)
|
|
3
|
4
|
Directly issued capital subject to phase-out from common equity
tier 1 capital (only applicable to non-joint
stock companies)
|
|
|
|
5
|
Common share capital issued by subsidiaries and held by third
parties (amount allowed in group
common equity tier 1 capital)
|
|
|
|
6
|
Common equity tier 1 capital
before regulatory adjustments
|
54,706
|
|
|
7
|
Prudential valuation
adjustments
|
(86)
|
|
|
8
|
Goodwill, net of tax, less hybrid capital and additional tier 1
capital²
|
(3,793)
|
(2,529)
|
4
|
9
|
Intangible assets, net of tax²
|
(290)
|
|
5
|
10
|
Deferred tax assets recognized for tax loss carry-forwards³
|
(4,535)
|
(3,025)
|
9
|
11
|
Unrealized (gains) / losses from cash flow hedges, net of tax
|
(2,151)
|
|
11
|
12
|
Expected losses on advanced internal ratings-based portfolio
less general provisions
|
(334)
|
|
|
13
|
Securitization gain on sale
|
|
|
|
14
|
Own credit related to financial liabilities designated at fair
value and replacement values, net of tax
|
(548)
|
|
|
15
|
Defined benefit plans
|
|
|
10
|
16
|
Compensation and own shares-related capital components (not
recognized in net profit)
|
(1,255)
|
|
|
17
|
Reciprocal crossholdings in common equity
|
|
|
|
17a
|
Qualifying interest where a controlling influence is exercised
together with other owners (CET instruments)
|
|
|
|
17b
|
Consolidated investments (CET1 instruments)
|
|
|
|
18
|
Investments in the capital of banking, financial and insurance
entities that are outside the scope of regulatory
consolidation, net of eligible short positions, where the bank
does not own more than 10% of the issued share capital
(amount above 10% threshold)
|
|
|
|
19
|
Significant investments in the common stock of banking,
financial and insurance entities that are outside
the scope of regulatory consolidation, net of eligible short
positions (amount above 10% threshold)
|
|
|
|
20
|
Mortgage servicing rights (amount above 10% threshold)
|
|
|
|
21
|
Deferred tax assets arising from temporary differences (amount
above 10% threshold, net of related tax liability)⁴
|
(927)
|
(1,174)
|
12
|
22
|
Amount exceeding the 15% threshold
|
|
|
|
23
|
of which: significant
investments in the common stock of financials
|
|
|
|
24
|
of which: mortgage servicing
rights
|
|
|
|
25
|
of which: deferred tax
assets arising from temporary differences
|
|
|
|
26
|
Expected losses on equity investments treated according to the
PD/LGD approach
|
|
|
|
26a
|
Other adjustments relating to the application of an
internationally accepted accounting standard
|
(413)
|
|
|
26b
|
Other deductions
|
(3,792)
|
|
13
|
27
|
Regulatory adjustments applied to common equity tier 1 due to
insufficient additional tier 1 and tier 2 to cover deductions
|
|
|
|
28
|
Total regulatory adjustments
to common equity tier 1
|
(18,126)
|
(6,727)
|
|
29
|
Common equity tier 1 capital
(CET1)
|
36,580
|
(6,727)
|
|
Table 30:
Composition of capital (continued)
|
|
Numbers phase-in
|
Effect of the
transition phase
|
References¹
|
|
CHF million, except where
indicated
|
31.3.16
|
31.3.16
|
|
30
|
Directly issued qualifying additional tier 1 instruments plus
related stock surplus
|
7,585
|
|
|
31
|
of which: classified as
equity under applicable accounting standards
|
|
|
|
32
|
of which: classified as
liabilities under applicable accounting standards⁵
|
7,585
|
|
13
|
33
|
Directly issued capital instruments subject to phase-out from
additional tier 1
|
|
|
|
34
|
Additional tier 1 instruments (and CET1 instruments not included
in row 5) issued by subsidiaries and held
by third parties (amount allowed in group additional tier 1)
|
1,904
|
(1,904)
|
6
|
35
|
of which: instruments issued
by subsidiaries subject to phase-out
|
1,904
|
(1,904)
|
|
36
|
Additional tier 1 capital
before regulatory adjustments
|
9,490
|
(1,904)
|
|
37
|
Investments in own additional tier 1 instruments
|
|
|
|
38
|
Reciprocal crossholdings in additional tier 1 instruments
|
|
|
|
38a
|
Qualifying interest where a controlling influence is exercised
together with other owner (AT1 instruments)
|
|
|
|
38b
|
Holdings in companies which are to be consolidated (additional
tier1 instruments)
|
|
|
|
39
|
Investments in the capital of banking, financial and insurance
entities that are outside the scope of
regulatory consolidation, net of eligible short positions, where
the bank does not own more than 10% of
the issued common share capital of the entity (amount above 10%
threshold)
|
|
|
|
40
|
Significant investments in the capital of banking, financial and
insurance entities that are outside
the scope of regulatory consolidation (net of eligible short
positions)
|
|
|
|
41
|
National specific regulatory adjustments
|
(2,529)
|
2,529
|
|
42
|
Regulatory adjustments applied to additional tier 1 due to
insufficient tier 2 to cover deductions
|
|
|
|
|
Tier 1 adjustments on impact
of transitional arrangements
|
(2,529)
|
2,529
|
|
|
of which: prudential
valuation adjustment
|
|
|
|
|
of which: own CET1
instruments
|
|
|
|
|
of which: goodwill net of
tax, offset against hybrid capital and low-trigger loss-absorbing capital
|
(2,529)
|
2,529
|
|
|
of which: intangible assets
(net of related tax liabilities)
|
|
|
|
|
of which: gains from the
calculation of cash flow hedges
|
|
|
|
|
of which: IRB shortfall of
provisions to expected losses
|
|
|
|
|
of which: gains on sales
related to securitization transactions
|
|
|
|
|
of which: gains/losses in
connection with own credit risk
|
|
|
|
|
of which: investments
|
|
|
|
|
of which: expected loss
amount for equity exposures under the PD/LGD approach
|
|
|
|
|
of which: mortgage servicing
rights
|
|
|
|
42a
|
Excess of the adjustments which are allocated to the common
equity tier 1 capital
|
|
|
|
43
|
Total regulatory adjustments
to additional tier 1 capital
|
(2,529)
|
2,529
|
|
44
|
Additional tier 1 capital
(AT1)
|
6,961
|
624
|
|
45
|
Tier 1 capital (T1 = CET1 +
AT1)
|
43,541
|
(6,103)
|
|
46
|
Directly issued qualifying tier 2 instruments plus related stock
surplus⁶
|
11,129
|
|
7
|
47
|
Directly issued capital instruments subject to phase-out from
tier 2⁶
|
948
|
(948)
|
8
|
48
|
Tier 2 instruments (and CET1 and additional tier 1 instruments
not included in rows 5 or 34) issued by
subsidiaries and held by third parties (amount allowed in group
tier 2)
|
|
|
|
49
|
of which: instruments issued
by subsidiaries subject to phase-out
|
|
|
|
50
|
Provisions
|
|
|
|
51
|
Tier 2 capital before
regulatory adjustments
|
12,077
|
(948)
|
|
Table 30:
Composition of capital (continued)
|
|
Numbers phase-in
|
Effect of the
transition phase
|
References¹
|
|
CHF million, except where
indicated
|
31.3.16
|
31.3.16
|
|
52
|
Investments in own tier 2 instruments⁶
|
(17)
|
1
|
7, 8
|
53
|
Reciprocal cross holdings in tier 2 instruments
|
|
|
|
53a
|
Qualifying interest where a controlling influence is exercised
together with other owner (tier 2 instruments)
|
|
|
|
53b
|
Investments to be consolidated (tier 2 instruments)
|
|
|
|
54
|
Investments in the capital of banking, financial and insurance
entities that are outside the scope
of regulatory consolidation, net of eligible short positions,
where the bank does not own more than 10% of
the issued common share capital of the entity (amount above the
10% threshold)
|
|
|
|
55
|
Significant investments in the capital banking, financial and
insurance entities that are outside
the scope of regulatory consolidation (net of eligible short
positions)
|
|
|
|
56
|
National specific regulatory adjustments
|
|
|
|
56a
|
Excess of the adjustments which are allocated to the additional
tier 1 capital
|
|
|
|
57
|
Total regulatory adjustments
to tier 2 capital
|
(17)
|
1
|
|
58
|
Tier 2 capital (T2)
|
12,059
|
(947)
|
|
|
of which: high-trigger
loss-absorbing capital⁵
|
895
|
|
13
|
|
of which: low-trigger
loss-absorbing capital⁶
|
10,217
|
|
7
|
59
|
Total capital (TC = T1 + T2)
|
55,601
|
(7,050)
|
|
|
Amount with risk-weight pursuant the transitional arrangement
(phase-in)
|
|
(2,934)
|
|
|
of which: net defined
benefit pension assets
|
|
|
|
|
of which: DTA on temporary
differences
|
|
(2,934)
|
|
60
|
Total risk-weighted assets
|
216,493
|
(2,934)
|
|
|
Capital ratios and buffers
|
|
|
|
61
|
Common equity tier 1 (as a percentage of risk-weighted assets)
|
16.9
|
|
|
62
|
Tier 1 (Pos 45 as a percentage of risk-weighted assets)
|
20.1
|
|
|
63
|
Total capital (pos 59 as a percentage of risk-weighted assets)
|
25.7
|
|
|
64
|
CET1 requirement (base capital, buffer capital and
countercyclical buffer requirements) plus G-SIB
buffer requirement, expressed as a percentage of risk-weighted
assets
|
8.3
|
|
|
65
|
of which: capital buffer requirement⁷
|
3.6
|
|
|
66
|
of which: bank-specific
countercyclical buffer requirement
|
0.2
|
|
|
67
|
of which: G-SIB buffer
requirement⁷
|
0.3
|
|
|
68
|
Common equity tier 1 available to meet buffers (as a percentage
of risk-weighted assets)
|
17.1
|
|
|
68a–f
|
Not applicable for systemically relevant banks according to
FINMA RS 11/2
|
|
|
|
72
|
Non-significant investments in the capital of other financials
|
691
|
|
|
73
|
Significant investments in the common stock of financials
|
812
|
|
|
74
|
Mortgage servicing rights (net of related tax liability)
|
|
|
|
75
|
Deferred tax assets arising from temporary differences (net of
related tax liability)
|
5,297
|
|
|
|
Applicable caps on the
inclusion of provisions in tier 2
|
|
|
|
76
|
Provisions eligible for inclusion in tier 2 in respect of
exposures subject to standardised approach
(prior to application of cap)
|
|
|
|
77
|
Cap on inclusion of provisions in tier 2 under standardized
approach
|
|
|
|
78
|
Provisions eligible for inclusion in tier 2 in respect of
exposures subject to internal ratings-based
approach (prior to application of cap)
|
|
|
|
79
|
Cap for inclusion of provisions in tier 2 under internal
ratings-based approach
|
|
|
|
1 References link the lines of this table to the respective
reference numbers provided in the column “References” in “Table 29:
Reconciliation of accounting balance sheet to balance sheet under the
regulatory scope of consolidation". 2 The CHF 6,322 million (CHF
3,793 million and CHF 2,529 million) reported in line 8 includes goodwill on
investments in associates of CHF 347 million and DTL on goodwill of CHF 56
million. The CHF 290 million reported in line 9 includes DTL on intangible
assets of CHF 5 million. 3 The CHF 7,560 million (CHF 4,535 million and
CHF 3,025 million) deferred tax assets recognized for tax loss carry-forwards
reported in line 10 differ from the CHF 7,098 million deferred tax assets
shown in line "Deferred tax assets" in table 29 because the latter
figure is shown after the offset of deferred tax liabilities for cash flow
hedge gains (CHF 411 million) and other temporary differences, which are
adjusted out in line 11 and other lines of this table respectively. 4 The
CHF 2,101 million (CHF 927 million and CHF 1,174 million) deferred tax assets
arising from temporary differences in line 21 differ from the CHF 5,093
million deferred tax assets on temporary differences shown in the line
“Deferred tax assets” in table 29 as the former relates only to the amount
above the 10% threshold. 5 CHF 7,585 million and CHF 895 million reported
in line 32 and 58 respectively of this table, includes the following
positions: CHF 4,264 million and CHF 2,360 million recognized in the line
"Debt issued" in table 29, CHF 1,145 million DCCP recognized in the
line "Other liabilities" in table 29 and CHF 710 million recognized
in DCCP-related charge for regulatory capital purposes in line 16
"Compensation and own shares-related capital components (not recognized
in net profit)" of this table. 6 The CHF 12,077 million in line 51
includes CHF 10,234 million low-trigger loss-absorbing tier 2 capital
recognized in the line "Debt issued" in table 29, which is shown
net of CHF 16 million investments in own tier 2 instruments reported in line
52 of this table and CHF 948 million phase-out capital recognized in the line
"Debt issued" in table 29, which is shown net of CHF 1 million
investments in own tier 2 instruments reported in line 52 of this table and
high-trigger loss-absorbing capital of CHF 895 million reported in line
58. 7 The BCBS G-SIB requirements of 0.25% (line 67) are exceeded by
our Swiss SRB capital buffer requirements (line 65) and therefore have no
incremental impact on our buffer requirements.
|
Notice
to investors |
This
document and the information contained herein are provided solely for
information purposes, and are not to be construed as solicitation of an offer
to buy or sell any securities or other financial instruments in Switzerland,
the United States or any other jurisdiction. No investment decision relating to
securities of or relating to UBS Group AG, UBS AG or their affiliates should be
made on the basis of this document. Refer to UBS’s first quarter 2016 report
and its Annual Report 2015 for additional information. These reports are
available at www.ubs.com/investors.
Rounding
|
Numbers presented throughout this document may not add up precisely
to the totals provided in the tables and text. Percentages, percent changes and
absolute variances are calculated on the basis of rounded figures displayed in
the tables and text and may not precisely reflect the percentages, percent
changes and absolute variances that would be derived based on figures that are
not rounded.
Tables
|
Within
tables, blank fields generally indicate that the field is not applicable or not
meaningful, or that information is not available as of the relevant date or for
the relevant period. Zero values generally indicate that the respective figure
is zero on an actual or rounded basis.
Percentage
changes are presented as a mathematical calculation of the change between
periods.
This Form 6-K is hereby incorporated by
reference into (1) each of the registration statements of UBS AG on
Form F-3 (Registration Number 333-204908) and of UBS Group AG on
Form S-8 (Registration Numbers 333-200634; 333-200635; 333-200641; and
333-200665), and into each prospectus outstanding under any of the foregoing
registration statements, (2) any outstanding offering circular or similar
document issued or authorized by UBS AG that incorporates by reference any
Form 6-K’s of UBS AG that are incorporated into its registration
statements filed with the SEC, and (3) the base prospectus of Corporate
Asset Backed Corporation (“CABCO”) dated June 23, 2004 (Registration
Number 333-111572), the Form 8-K of CABCO filed and dated
June 23, 2004 (SEC File Number 001-13444), and the Prospectus
Supplements relating to the CABCO Series 2004-101 Trust dated May 10,
2004 and May 17, 2004 (Registration Number 033-91744 and
033-91744-05).
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
UBS Group AG
By:
_/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By:
_/s/ Sarah M. Starkweather_____
Name: Sarah M. Starkweather
Title: Executive Director
UBS AG
By:
_/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By:
_/s/ Sarah M. Starkweather_____
Name: Sarah M. Starkweather
Title: Executive Director
Date: May 3, 2016
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