Debt issued designated at fair value	6 Months Ended
Jun. 30, 2026
Disclosure Of Financial Liabilities [Line Items]
Debt issued designated at fair value	Note 12 Debt issued designated at fair value Debt Issued designated at Fair Value USD m 30.6.26 31.12.25 Equity-linked 1 66,987 60,303 Rates-linked 27,374 26,324 Fixed-rate 11,624 11,627 Credit-linked 3,388 3,597 Commodity-linked 2,810 3,030 Other 8,992 8,913 of which: debt that contributes to total loss-absorbing capacity 6,898 6,366 Total debt issued designated at fair value 2 121,175 113,794 1 Includes investment fund unit-linked instruments issued. 2 As of 30 June 2026, 100 % of Total debt issued designated at fair value was unsecured (31 December 2025: 100 %).

Debt issued designated at fair value

6 Months Ended

Jun. 30, 2026

Note

Debt issued designated at fair value

Debt Issued designated at Fair Value

USD m

30.6.26

31.12.25

Equity-linked

66,987

60,303

Rates-linked

27,374

26,324

Fixed-rate

11,624

11,627

Credit-linked

3,388

3,597

Commodity-linked

2,810

3,030

Other

8,992

8,913

of which: debt that contributes to total loss-absorbing capacity

6,898

6,366

Total debt issued designated at fair value

121,175

113,794

1 Includes investment fund unit-linked instruments issued.

2 As of 30 June 2026,

100

% of Total debt issued designated at fair value was unsecured (31 December 2025:

100

%).