v3.26.1
Debt issued measured at amortized cost
 6 Months Ended
Jun. 30, 2026
Disclosure Of Financial Liabilities [Line Items]  
Debt issued measured at amortized cost
Note
14
Debt issued measured at amortized cost
Debt issued measured at amortized cost
USD m
30.6.26
31.12.25
Short-term debt
1
44,031
33,870
Senior unsecured debt
22,309
24,695
Covered bonds
14,666
11,689
Subordinated debt
310
328
Debt issued through the Swiss central mortgage institutions
28,440
29,169
Other long-term debt
183
456
Long-term debt
2
65,908
66,337
Total debt issued measured at amortized cost
3,4
109,939
100,207
1 Predominantly consists of debt with an
original contractual maturity of less
than one year and mainly includes
certificates of deposit and commercial
paper.
2 Debt with an original contractual
maturity greater
than or equal to one year.
The classification of debt
issued into short-term and long-term
does not consider any early
redemption features.
3 Net of bifurcated embedded derivatives,
the fair value of which
was
not material for the periods presented.
4 Except for Covered bonds (
100
% secured; 31 December 2025:
100
% secured), Debt issued through the Swiss central mortgage institutions (
100
% secured; 31 December
2025:
100
% secured) and Other long-term debt (
91
% secured; 31 December 2025:
97
% secured),
100
% of the balance was unsecured as of 30 June 2026 (31 December 2025:
100
% unsecured).