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|In CHF million|
|Balance as at 1 January||10||11||22||23||89||33||121||66|
|Unwinding of discount and effect of change in discount rate||–||–||0||0||–||–||0||0|
|Reclassifications and other disposals||–||–||1||3||–1||–13||–||–10|
|Foreign currency translation differences||0||0||–1||0||0||0||–1||0|
|Balance as at end of period||9||10||17||22||22||89||48||121|
Provisions for restructuring were set up in 2021 in Germany (2020: Germany). The outflow of the amounts is expected within the following one to two years.
“Litigation” relates to several proceedings in several jurisdictions with uncertain outcome including customer claims relating to the distribution units in Germany. Litigation provisions have been set up to cover legal and administrative proceedings that arise in the ordinary course of business. These provisions concern numerous cases that are not of public knowledge or whose detailed disclosure could prejudice the interests of the Group.
“Other” comprises various liabilities of uncertain timing or amount (e.g. indemnification provision relating to property development and management). The prior year balance included a provision of CHF 70 million in relation to the expected resolution with the US Department of Justice (DOJ) inquiry concerning prior business with US clients that had been charged against the 2020 results. As disclosed in a press release dated 14 May 2021, Swiss Life reached a resolution with the DOJ. The resolution is in the form of a Deferred Prosecution Agreement (DPA) with a three-year term. The financial payments required as part of this resolution were in line with the provision of CHF 70 million.