Ubs AG 6-K, filed Nov 8, 2024
Ubs AG (AMUB)
6-K
2024-11-08
For: 2024-11-08
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Added on
July 04, 2026
About this 6-K
Ubs AG filed this 6-K on November 8, 2024.
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: November 8, 2024
UBS Group AG
(Registrant's Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
(Address of principal executive office)
Commission File Number: 1-36764
UBS AG
(Registrant's Name)
Bahnhofstrasse 45, 8001 Zurich, Switzerland
Aeschenvorstadt 1, 4051 Basel, Switzerland
(Address of principal executive offices)
Commission File Number: 1-15060
Indicate by check mark whether the registrants file or will file annual reports under cover of Form 20-F or Form
40-
F.
Form 20-F
☒
☐
This Form 6-K consists of UBS supplementary information for significant regulated subsidiaries and sub-groups for
the second and third quarters of 2024, which appear immediately following this page.
Third quarter
Significant regulated subsidiary and sub-group information
Significant regulated subsidiary
and sub-group information
Unaudited
Financial and regulatory key figures for our significant regulated
subsidiaries and sub-groups
UBS AG
(consolidated)
UBS AG
(standalone)
UBS Switzerland AG
(standalone)
UBS Europe SE
(consolidated)
UBS Americas
Holding LLC
(consolidated)
All values in million, except where indicated
USD
USD
CHF
EUR
USD
Financial and regulatory requirements
IFRS Accounting Standards
Swiss SRB rules
IFRS Accounting
Standards
Swiss SRB rules
IFRS Accounting
Standards
Swiss SRB rules
IFRS Accounting
Standards
EU regulatory rules
US GAAP
US Basel III rules
As of or for the quarter ended
30.9.24
30.6.24
30.9.24
30.6.24
30.9.24
30.6.24
30.9.24
30.6.24
1
30.9.24
30.6.24
2
Financial information
3
Income statement
Total operating income
4
11,831
9,816
5,170
6,825
3,475
2,374
292
286
4,461
4,357
Total operating expenses
10,640
10,012
3,489
3,382
2,303
1,715
263
257
4,177
4,258
Operating profit / (loss) before tax
1,191
(196)
1,681
3,443
1,172
660
29
29
284
99
Net profit / (loss)
997
(224)
1,815
3,652
1,012
561
24
21
122
28
Balance sheet
Total assets
1,626,893
1,564,664
980,770
948,599
537,000
324,079
46,935
48,946
203,427
211,341
Total liabilities
1,529,071
1,470,417
892,651
863,202
511,044
310,703
42,907
44,946
170,824
178,863
Total equity
97,822
94,247
88,119
85,397
25,956
13,376
4,027
4,000
32,603
32,478
Capital
5
Common equity tier 1 capital
2,701
2,740
23,303
23,036
Additional tier 1 capital
600
600
2,817
2,810
Total going concern capital / Tier 1 capital
3,301
3,340
26,121
25,846
Tier 2 capital
257
256
Total capital
3,301
3,340
26,378
26,103
Total gone concern loss-absorbing capacity
6
2,530
6
7,800
7
7,800
7
Total loss-absorbing capacity
5,821
5,870
33,921
7
33,646
7
Risk-weighted assets and leverage
ratio denominator
5
Risk-weighted assets
12,622
12,423
84,944
84,289
Leverage ratio denominator
50,053
50,630
197,597
205,699
8
Supplementary leverage ratio denominator
227,490
232,968
8
Capital and leverage ratios (%)
5
Common equity tier 1 capital ratio
9
Going concern capital ratio / Tier 1 capital ratio
Total capital ratio
Total loss-absorbing capacity ratio
Tier 1 leverage ratio
Supplementary tier 1 leverage ratio
Going concern leverage ratio
Total loss-absorbing capacity leverage ratio
Gone concern capital coverage ratio
Liquidity coverage ratio
5
High-quality liquid assets (bn)
360.6
280.3
170.2
137.0
126.0
78.1
16.7
17.3
32.1
29.7
10
Net cash outflows (bn)
183.7
143.6
60.4
50.5
86.0
53.6
11.5
11.7
24.6
20.1
10
Liquidity coverage ratio (%)
196.3
194.1
282.3
11
269.5
146.7
12
145.9
145.2
148.3
130.1
147.7
10
Net stable funding ratio
5
Total available stable funding (bn)
903.4
882.8
446.4
448.0
369.2
225.0
14.6
15.1
112.6
107.8
10
Total required stable funding (bn)
712.7
691.5
444.9
437.3
274.0
165.3
11.5
11.6
82.0
79.7
10
Net stable funding ratio (%)
126.8
127.7
100.4
13
102.5
134.7
13
136.1
127.4
129.6
137.3
135.4
10
Other
Joint and several liability between UBS AG and
UBS Switzerland AG (bn)
14
3
15
3
1 Comparative figures have been restated to align with the regulatory reports as submitted to the European Central Bank. 2 Financial and regulatory information for UBS Americas Holding LLC is inclusive of Credit
Suisse Holdings (USA), Inc. following the reparenting of this entity under UBS Americas Holding LLC on 7 June 2024. 3 The financial information disclosed does not represent a full set of financial statements under
the respective GAAP / IFRS Accounting Standards. 4 The total operating income includes credit loss expense or release. 5 Refer to the 30 September 2024 Pillar 3 Report, available under “Pillar 3 disclosures” at
ubs.com/investors, for more information. 6 Consists of positions that meet the conditions laid down in Art. 72a–b of the Capital Requirements Regulation II with regard to contractual, structural or legal subordination.
7 Consists of eligible long-term debt that meets the conditions specified in 12 CFR § 252.162 of the final TLAC rules. Total loss-absorbing capacity is the sum of tier 1 capital and eligible long-term debt. 8 Leverage
exposure for 30 June 2024 has been calculated as if the reparenting of Credit Suisse Holdings (USA), Inc. occurred on the first day of the calendar quarter. 9 On a standalone basis as of 30 September 2024, UBS
AG’s phase-in CET1 capital ratio was 14.7%, based on risk-weights of 230% and 320% for Swiss and foreign participations, respectively. These risk-weights will increase to 250% and 400% for Swiss and foreign
participations in a phased manner until 1 January 2028, contributing to UBS AG’s fully applied CET1 capital ratio of 13.3%. 10 The liquidity coverage ratio and net stable funding ratio for 30 June 2024 have been
calculated based on a simple daily average of the quarter which included the business activity of Credit Suisse Holdings (USA), Inc. beginning on 7 June 2024. 11 In the third quarter of 2024, the liquidity coverage
ratio (the LCR) of UBS AG was 282.3%, remaining above the prudential requirements communicated by FINMA. 12 In the third quarter of 2024, the LCR of UBS Switzerland AG, which is a Swiss SRB, was 146.7%,
remaining above the prudential requirement communicated by FINMA in connection with the Swiss Emergency Plan. 13 In accordance with Art. 17h para. 3 and 4 of the Liquidity Ordinance, UBS AG standalone is
required to maintain a minimum NSFR of at least 80% without taking into account excess funding of UBS Switzerland AG and 100% after taking into account such excess funding. 14 Under certain circumstances,
the Swiss Banking Act and FINMA’s Banking Insolvency Ordinance authorize FINMA to modify, extinguish or convert to common equity liabilities of a bank in connection with a resolution or insolvency of such bank.
15 As of 30 September 2024, the amount consists of a joint and several liability of UBS Switzerland AG for contractual obligations of UBS AG related to the establishment of UBS Switzerland AG (CHF 2.4bn), and a
joint and several liability of UBS Switzerland AG related to the merger with Credit Suisse (Schweiz) AG in connection with the international covered bonds program (CHF 0.5bn) which was fully collateralized through
cash deposits from UBS AG.
Significant regulated subsidiary and sub-group information
UBS Group AG is a holding company and conducts substantially all of its operations through UBS AG and
subsidiaries thereof. UBS Group AG and UBS AG have contributed a significant portion of their respective capital
to, and provide substantial liquidity to, such subsidiaries. Many of these subsidiaries are subject to regulations
requiring compliance with minimum capital, liquidity and similar requirements. The tables in this section summarize
the regulatory capital components and capital ratios of our significant regulated subsidiaries and sub-groups
determined under the regulatory framework of each subsidiary’s or sub-group’s home jurisdiction.
Supervisory authorities generally have discretion to impose higher requirements or to otherwise limit the activities
of subsidiaries. Supervisory authorities also may require entities to measure capital and leverage ratios on a stressed
basis and may limit the ability of an entity to engage in new activities or take capital actions based on the results of
those tests.
In August 2024, the Federal Reserve Board assigned UBS Americas Holding LLC a stress capital buffer (an SCB) of
9.3% as of 1 October 2024 (previously 9.1%) under the Federal Reserve Board’s SCB rule, resulting in a total
common equity tier 1 capital requirement of 13.8%. The SCB for our US-based intermediate holding company is
based on the previously released results of the Federal Reserve Board’s 2024 Dodd–Frank Act Stress Test (DFAST),
where UBS Americas Holding LLC exceeded the minimum capital requirements under the severely adverse scenario.
Additional information on the above entities is provided in the 30 September 2024 Pillar 3 Report, available under
“Pillar 3 disclosures” at
ubs.com/investors
.
Credit Suisse International
(standalone)
All values in million, except where indicated
USD
Financial and regulatory requirements
IFRS Accounting Standards
UK regulatory rules
As of or for the quarter ended
30.9.24
30.6.24
Financial information
1
Income statement
Total operating income
2
211
297
Total operating expenses
245
348
Operating profit / (loss) before tax
(34)
(51)
Net profit / (loss)
(34)
(51)
Balance sheet
Total assets
77,206
87,943
Total liabilities
62,492
73,146
Total equity
14,714
14,797
Capital
3
Common equity tier 1 capital
12,945
12,814
Additional tier 1 capital
1,200
1,200
Total going concern capital / Tier 1 capital
14,145
14,014
Tier 2 capital
0
0
Total capital
14,145
14,014
Total gone concern loss-absorbing capacity
4,586
4,586
Total loss-absorbing capacity
18,731
18,600
Risk-weighted assets and leverage ratio denominator
3
Risk-weighted assets
16,983
19,699
Leverage ratio denominator
55,245
58,250
Capital and leverage ratios (%)
3
Common equity tier 1 capital ratio
76.2
65.1
Going concern capital ratio / Tier 1 capital ratio
83.3
71.1
Total capital ratio
83.3
71.1
Total loss-absorbing capacity ratio
110.3
94.4
Tier 1 leverage ratio
25.6
24.1
Going concern leverage ratio
Total loss-absorbing capacity leverage ratio
33.9
31.9
Liquidity coverage ratio
3
High-quality liquid assets (bn)
15.0
14.6
Net cash outflows (bn)
4.2
4.4
Liquidity coverage ratio (%)
367.2
345.3
Net stable funding ratio
3
Total available stable funding (bn)
21.6
23.4
Total required stable funding (bn)
12.9
16.5
Net stable funding ratio (%)
182.9
150.8
1 The financial information disclosed does not represent a full set of financial statements under the respective GAAP / IFRS Accounting Standards. 2 The total operating income includes credit loss expense or release.
3 Refer to the 30 September 2024 Pillar 3 Report, available under “Pillar 3 disclosures” at ubs.com/investors, for more information.
UBS Group AG
PO Box
CH-8098 Zurich
ubs.com
This Form 6-K is hereby incorporated by reference into (1) each of the registration statements on Form F-3
(Registration Numbers 333-263376 and 333-278934), and on Form S-8 (Registration Numbers 333-200634; 333-
200635; 333-200641; 333-200665; 333-215254; 333-215255; 333-228653; 333-230312; 333-249143 and 333-
272975), 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 Forms 6-
K 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 registrants have duly caused this
report to be signed on their behalf by the undersigned, thereunto duly authorized.
UBS Group AG
By:_/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By:_/s/ Ella Campi_____________
Name: Ella Campi
Title: Executive Director
UBS AG
By:_/s/ David Kelly_____________
Name: David Kelly
Title: Managing Director
By:_/s/ Ella Campi_____________
Name: Ella Campi
Title: Executive Director
Date: November 8, 2024