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 | |||||||
| 31.12.2022 | 31.12.2021 | 31.12.2022 | 31.12.2021 | |||||
| Securities pledged under repurchase agreements1 | 3 234 | 4 140 | 3 234 | 4 140 | ||||
| Securities lent in exchange for securities received | 755 | 2 498 | 755 | 2 498 | ||||
| Other securities pledged | 543 | 789 | 543 | 789 | ||||
| Total | 4 533 | 7 427 | 4 533 | 7 427 | ||||
| 1 of which can be sold or repledged by transferee | 3 234 | 4 140 | 3 234 | 4 140 | ||||
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 | ||||
| 31.12.2022 | 31.12.2021 | |||
| Securities received under reverse repurchase agreements1 | 227 | – | ||
| Securities received as collateral in exchange for securities lent | 755 | 2 498 | ||
| Securities received for loans and receivables | 291 | 276 | ||
| Securities received for reinsurance assets | 295 | 279 | ||
| Other securities received | 71 | 26 | ||
| Total | 1 638 | 3 079 | ||
| 1 of which sold or repledged | – | – | ||