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33 Collateral

Financial assets pledged as collateral

The following table provides details of financial assets which have been sold or otherwise transferred, but which do not qualify for derecognition because substantially all risks and rewards of ownership are retained. Repurchase agreements and securities lending transactions are discussed in notes 2.7 and 13. Other securities pledged include debt securities pledged as collateral under reinsurance contracts issued and debt securities pledged as collateral to cover margins due in respect of derivative transactions.

In CHF million
    Pledged amount   Fair value
    31.12.2021   31.12.2020   31.12.2021   31.12.2020
Securities pledged under repurchase agreements1   4 140   4 064   4 140   4 064
Securities lent in exchange for securities received   2 498   2 744   2 498   2 744
Other securities pledged   789   893   789   893
Total   7 427   7 701   7 427   7 701
1 of which can be sold or repledged by transferee   4 140   4 064   4 140   4 064
Collateral held

The table below presents marketable securities received from third parties that are not recognised in the balance sheet, but are held as collateral in respect of the following transactions.

In CHF million
    Fair value
    31.12.2021   31.12.2020
Securities received as collateral in exchange for securities lent   2 498   2 744
Securities received for loans and receivables   276   226
Securities received for reinsurance assets   279   273
Other securities received   26   74
Total   3 079   3 316