Information regarding balance sheet and income statement

Analy­sis of col­lat­eral

 

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in CHF 1,000 (Art. 24e Par. 1 Point 3.1 FL-BankV)

Mort­gage
col­lat­eral

Other 
col­lat­eral

With­out 
col­lat­eral

To­tal

Loans

 

 

 

 

Due from clients (ex­clud­ing mort­gage loans)

17,811

443,766

318,409

779,986

Mort­gage loans se­cured by

2,625,592

64,464

21,582

2,711,638

• res­i­den­tial prop­erty

2,143,505

0

0

2,143,505

• of­fice and busi­ness premises

38,961

0

0

38,961

• com­mer­cial and in­dus­trial prop­erty

403,191

0

0

403,191

• other

39,935

64,464

21,582

125,981

To­tal loans, 31/​12/​2014

2,643,403

508,230

339,991

3,491,624

To­tal loans, 31/​12/​2013

2,507,998

451,559

296,711

3,256,268

 

 

 

 

 

Off-bal­ance-sheet items

 

 

 

 

Con­tin­gent li­a­bil­i­ties

364

40,819

11,667

52,850

Ir­rev­o­ca­ble fa­cil­i­ties granted

3,253

4,446

19,120

26,819

To­tal off-bal­ance-sheet items, 31/​12/​2014

3,617

45,265

30,787

79,669

To­tal off-bal­ance-sheet items, 31/​12/​2013

8,621

46,311

32,603

87,535

Value-im­paired loans

 

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in CHF 1,000

Gross 
amount owed

Es­ti­mated 
liq­ui­da­tion pro­ceeds 
from col­lat­eral

Net 
amount owed

In­di­vid­ual value 
ad­just­ments

To­tal value-im­paired loans, 31/​12/​2014

66,172

45,899

20,273

20,273

To­tal value-im­paired loans, 31/​12/​2013

38,348

18,718

19,630

19,630

Port­fo­lios of se­cu­ri­ties and pre­cious met­als

 

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in CHF 1,000

Car­ry­ing value

Ac­qui­si­tion cost

 Mar­ket value

(Art. 24e Par. 1 Point 3.2 FL-BankV)

31/​12/​2014

31/​12/​2013

31/​12/​2014

31/​12/​2013

31/​12/​2014

31/​12/​2013

Trad­ing port­fo­lios of se­cu­ri­ties and pre­cious met­als

 

 

 

 

 

 

Debt se­cu­ri­ties

0

0

0

0

0

0

Eq­uity shares

3,626

1,313

3,562

1,355

3,626

1,313

of which eq­uity shares in the trea­sury

3,626

1,313

3,562

1,355

3,626

1,313

Pre­cious met­als

188

230

186

238

188

230

To­tal 

3,814

1,543

3,748

1,593

3,814

1,543

 

 

 

 

 

 

 

Ma­te­r­ial re­ceiv­ables and li­a­bil­i­ties in­cluded in other bal­ance-sheet po­si­tions which are marked to mar­ket value and whose reval­u­a­tion is recorded in the item “gains/​losses from trad­ing trans­ac­tions”:

Pos­i­tive re­place­ment val­ues of de­riv­a­tive fi­nan­cial in­stru­ments 
in trad­ing port­fo­lios (other as­sets)

48,845

28,696

 

 

48,845

28,696

Neg­a­tive re­place­ment val­ues of de­riv­a­tive fi­nan­cial in­stru­ments 
in trad­ing port­fo­lios (other li­a­bil­i­ties)

12,547

27,278

 

 

12,547

27,278

To­tal

61,392

55,974

 

 

61,392

55,974

 

 

 

 

 

 

 

Port­fo­lios of se­cu­ri­ties and pre­cious met­als in cur­rent as­sets (ex­clud­ing trad­ing port­fo­lios)

 

 

 

Debt se­cu­ri­ties

1,268,652

1,009,995

1,257,640

1,036,571

1,303,086

1,032,510

Eq­uity shares

75,005

78,582

116,774

124,281

87,939

87,869

of which eq­uity shares in the trea­sury

5,865

9,458

17,455

24,538

5,865

9,458

Pre­cious met­als

0

0

0

0

0

0

To­tal

1,343,657

1,088,577

1,374,414

1,160,852

1,391,025

1,120,379

of which repo-el­i­gi­ble se­cu­ri­ties

865,217

739,468

871,675

757,005

892,361

756,850

of which ex­change-listed se­cu­ri­ties

1,256,260

1,001,191

1,260,322

1,046,092

1,295,991

1,026,113

Dis­clo­sures on trea­sury shares in­cluded in cur­rent as­sets (ex­clud­ing trad­ing port­fo­lios)

 

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in num­bers / in CHF 1,000 (Art. 24e Par. 1 Point 3.2 FL-BankV)

 Num­ber

 Car­ry­ing value

 

 2014

 2013

2014

 2013

Bal­ance at the be­gin­ning of the year

97,000

130,000

9,458

8,450

Pur­chase

 

 

 

 

Dis­pos­als

–28,000

–33,000

–2,587

–2,605

Val­u­a­tion al­lowances

 

 

–1,006

 

Ap­pre­ci­a­tion

 

 

 

3,613

Bal­ance at the end of the year

69,000

97,000

5,865

9,458

Par­tic­i­pa­tions and shares in af­fil­i­ated com­pa­nies

 

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in CHF 1,000 (Art. 24e Par. 1 Point 3.2 FL-BankV)

 

 

Car­ry­ing value 

31/​12/​2014

Car­ry­ing value 

31/​12/​2013

Par­tic­i­pa­tions

 

 

 

 

 

 

with­out quoted mar­ket value

 

 

 

25

 

127

To­tal par­tic­i­pa­tions 

 

 

 

25

 

127

 

 

 

 

 

 

 

Shares in af­fil­i­ated com­pa­nies

 

 

 

 

 

 

with­out quoted mar­ket value 1

 

 

 

120,150

 

110,435

To­tal shares in af­fil­i­ated com­pa­nies

 

 

 

120,150

 

110,435

  1. 1
    In 2014, no re­cov­er­ies in value pur­suant to Art. 1090 PGR were recorded (prior year: CHF 0.0 mil­lion).

 

 

 

in CHF 1,000 (Art. 24e Par. 1 Point 3.3 FL-BankV)

31/​12/​2014

31/​12/​2013

 

Cur­rency

Cor­po­rate cap­i­tal

Per­cent­age own­er­ship

Cur­rency

Cor­po­rate cap­i­tal

Per­cent­age own­er­ship

Par­tic­i­pa­tions

 

 

 

 

 

 

Fi­nar­bit AG, Küs­nacht 
(money-mar­ket and for­eign-ex­change bro­ker)

 

 

 

CHF

1,500

5%

Data Info Ser­vices AG, Vaduz 
(pro­cure­ment, trade and ex­change of goods and ser­vices)

CHF

50

50%

CHF

50

50%

 

 

 

 

 

 

 

Shares in af­fil­i­ated com­pa­nies

 

 

 

 

 

 

IFOS In­ter­na­tionale Fonds Ser­vice AG, Vaduz 
(fund man­age­ment com­pany)

CHF

1,000

100%

CHF

1,000

100%

VPB Fi­nanz Hold­ing AG, Zurich 1 
(hold­ing com­pany)

CHF

20,000

100%

CHF

20,000

100%

VP Bank (Lux­em­bourg) SA, Lux­em­bourg 
(bank)

CHF

20,000

100%

CHF

20,000

100%

VP Ver­wal­tung GmbH, Mu­nich

(man­age­ment com­pany)

EUR

500

100%

EUR

500

100%

VP Wealth Man­age­ment (Hong Kong) Ltd., Hong Kong 
(as­set man­age­ment com­pany)

HKD

5,000

100%

HKD

5,000

100%

VP Bank (Sin­ga­pore) Ltd., Sin­ga­pore
(bank)

SGD

67,000

100%

SGD

54,500

100%

VP Bank (BVI) Ltd, Tor­tola 

(bank)

USD

10,000

100%

USD

10,000

100%

  1. 1
    There is a sub­or­di­nated loan of CHF 6.0 mil­lion in favour of VP Bank (Switzer­land) Ltd, which is a wholly owned sub­sidiary com­pany of VPB Fi­nanz Hold­ing AG, Zurich.

The car­ry­ing value of af­fil­i­ated banks in­cluded un­der shares in af­fil­i­ated com­pa­nies amounts to CHF 114.8 mil­lion in­clud­ing sub­or­di­nated loans 
(pre­vi­ous year: CHF 105.1 mil­lion).

Overview of in­vest­ments

 

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in CHF 1,000 

Ac­qui-
­sition 
cost

Cumu­la­tive de­pre­ci­a­tion 
to date

Car­ry­ing value

31/​12/​2013

Fi­nan­cial year 2014

Car­ry­ing value

31/​12/​2014

(Art. 24e Par. 1 
Point 3.4 FL-BankV)

In­vest­ments

Di­vest­ments

Depr. and amort­­-
isa­tion

Depr. and amort. on 
dis­posal

 

To­tal par­tic­i­pa­tions 
(mi­nor­ity par­tic­i­pa­tions)

255

–128

127

 

–102

 

 

25

To­tal shares in af­fil­i­ated com­pa­nies

161,671

–51,236

110,435

9,715

 

 

 

120,150

To­tal in­tan­gi­ble as­sets 
(ex­clud­ing good­will)

128,885

–109,895

18,990

3,473

–5,929

–12,697

5,929

9,766

Real es­tate

 

 

 

 

 

 

 

 

• bank premises

198,552

–107,327

91,225

1,398

 

–5,868

 

86,755

• other real es­tate

17,214

–714

16,500

 

 

 

 

16,500

Other prop­erty 
and equip­ment

35,884

–32,323

3,561

3,019

–10,553

–2,836

10,550

3,741

To­tal prop­erty 
and equip­ment

251,650

–140,364

111,286

4,417

–10,553

–8,704

10,550

106,996

 

 

 

 

 

 

 

 

 

Fire-in­sur­ance 
val­ues of real es­tate

 

 

168,790

 

 

 

 

172,440

Fire-in­sur­ance val­ues 
of other prop­erty and 
equip­ment

 

 

28,120

 

 

 

 

27,500

Fu­ture com­mit­ments un­der op­er­at­ing leases

At year-end, there were var­i­ous op­er­at­ing lease con­tracts for real es­tate and other prop­erty and equip­ment which are prin­ci­pally used to con­duct the busi­ness ac­tiv­i­ties of the Bank. The ma­te­r­ial lease con­tracts in­clude re­newal op­tions as well as es­cape clauses.

in CHF 1,000 (Art. 1092 Point 3 PGR)

31/​12/​2014

31/​12/​2013

To­tal min­i­mum com­mit­ments aris­ing from op­er­at­ing leases

9,077

10,374

Op­er­at­ing ex­penses as of 31 De­cem­ber 2014 in­clude CHF 2.677 mil­lion aris­ing from op­er­at­ing leases (pre­vi­ous year: CHF 3.118 mil­lion).

As­sets pledged or as­signed to se­cure own or third-party li­a­bil­i­ties and as­sets sub­ject to reser­va­tion of ti­tle

 

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in CHF 1,000 (Art. 24k Par. 1 and Art. 24e Par. 1 Point 3.6 FL-BankV)

31/​12/​2014

31/​12/​2013

As­sets pledged or as­signed to se­cure own or third-party li­a­bil­i­ties and as­sets sub­ject 
to reser­va­tion of ti­tle ex­clud­ing se­cu­ri­ties lend­ing/​bor­row­ing and repo trans­ac­tions

 

 

Car­ry­ing value of as­sets pledged or as­signed as se­cu­rity

470,432

351,814

Ef­fec­tive li­a­bil­i­ties

0

0

 

 

 

Se­cu­ri­ties lend­ing/​bor­row­ing and re­pur­chase trans­ac­tions

 

 

Amounts re­ceiv­able aris­ing from cash de­posits in con­nec­tion with se­cu­ri­ties bor­row­ing 
and re­verse re­pur­chase trans­ac­tions

0

335,739

Amounts payable aris­ing from cash de­posits in con­nec­tion with se­cu­ri­ties lend­ing and re­pur­chase trans­ac­tions

0

0

Se­cu­ri­ties owned by the Bank lent out within the scope of se­cu­ri­ties lend­ing or de­liv­ered as col­lat­eral 
within the scope of se­cu­ri­ties bor­row­ing or trans­ferred within the scope of re­pur­chase trans­ac­tions

362,431

360,667

of which se­cu­ri­ties for which an un­con­di­tional right has been granted to sell on or re­pledge

299,546

244,821

Se­cu­ri­ties re­ceived as col­lat­eral within the scope of se­cu­ri­ties lend­ing or bor­rowed within the scope of se­cu­ri­ties 
bor­row­ing or re­ceived within the scope of re­verse re­pur­chase trans­ac­tions in the case of which the un­con­di­tional right to sell on or re­pledge was granted 

354,749

719,688

of which se­cu­ri­ties re­pledged or sold on

57,988

106,593

Li­a­bil­i­ties to own re­tire­ment pen­sion plans

 

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in CHF 1,000 (Art. 24e Par. 1 Point 3.7 FL-BankV)

31/​12/​2014

31/​12/​2013

Due to cus­tomers

38,292

34,199

Se­cu­ri­tised li­a­bil­i­ties

1,510

1,510

Other li­a­bil­i­ties

3,533

1,498

To­tal li­a­bil­i­ties to own re­tire­ment pen­sion plans

43,335

37,207

Out­stand­ing deben­ture loan

 

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in CHF 1,000 (Art. 24e Par. 1 Point 3.8 FL-BankV)

In­ter­est rate in %

Year 
of is­sue

Ma­tu­rity

Nom­i­nal 
amount 31/​12/​2014

Nom­i­nal 
amount 31/​12/​2013 

VP Bank deben­ture is­sue

2.500

2010

27/​05/​2016

200,000

200,000

Val­u­a­tion al­lowances / pro­vi­sions for gen­eral bank­ing risks

 

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in CHF 1,000 
(Art. 24e Par. 1 Point 3.9 FL-BankV)

01/​01/​2014

Util­i­sa­tion in ac­cord­ance with pur­pose

Re­cov­er­ies, over­due 
in­ter­est, 
forex diff.

Charges 
to in­come state­ment

Re­leases 
to in­come state­ment

31/​12/​2014

Val­u­a­tion al­lowances for de­fault risks

 

 

 

 

 

 

• in­di­vid­ual val­u­a­tion al­lowances

19,630

4,771

444

7,854

2,884

20,273

• in­di­vid­ual val­u­a­tion al­lowances made 
on lump-sum ba­sis

0

 

 

 

 

0

• lump-sum val­u­a­tion al­lowances

17,848

 

 

2,302

676

19,474

• in­di­vid­ual val­u­a­tion al­lowances made 
on lump-sum ba­sis for coun­try risks

2,250

 

 

1,000

 

3,250

Pro­vi­sions for con­tin­gent li­a­bil­i­ties and credit risks

197

 

 

207

 

404

Pro­vi­sions for other busi­ness risks

0

 

 

 

 

0

Pro­vi­sions for taxes and de­ferred taxes

600

385

 

700

215

700

Other pro­vi­sions

10,879

1,998

 

1,894

35

10,740

To­tal val­u­a­tion al­lowances and pro­vi­sions

51,404

7,154

444

13,957

3,810

54,841

mi­nus: val­u­a­tion al­lowances

37,478

 

 

 

 

39,747

To­tal pro­vi­sions as per bal­ance sheet

13,926

 

 

 

 

15,094

Pro­vi­sions for gen­eral bank­ing risks

63,150

 

 

 

 

63,150

Com­pany cap­i­tal

 

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in CHF 1,000 (Art. 24e Par. 1 Point 3.10 FL-BankV)

31/​12/​2014

31/​12/​2013

 

To­tal 
par value

Num­ber

Cap­i­tal en­ti­tled to div­i­dends

To­tal 
par value

Num­ber

Cap­i­tal en­ti­tled to div­i­dends

Bearer shares

53,143

5,314,347

53,143

53,143

5,314,347

53,143

Reg­is­tered shares

6,005

6,004,167

6,005

6,005

6,004,167

6,005

To­tal com­pany cap­i­tal

59,148

11,318,514

59,148

59,148

11,318,514

59,148

Sig­nif­i­cant share­hold­ers and groups of share­hold­ers with in­ter­link­ing vot­ing rights

 

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in CHF 1,000 (Art. 24e Par. 1 Point 3.10 FL-BankV)

31/​12/​2014

31/​12/​2013

 

Par value

Share in % 
of par value

Share of 
vot­ing 
rights in %

Par value

Share in % 
of par value

Share of 
vot­ing 
rights in %

With vot­ing rights

 

 

 

 

 

 

Stiftung Fürstlicher Kom­merzien­rat Guido Feger, Vaduz

14,717

24.9

48.4

14,717

24.9

48.4

U.M.M. Hilti-Stiftung, Schaan

6,065

10.3

10.6

6,065

10.3

10.6

Ethe­nea In­de­pen­dent In­vestors S.A., Lux­em­bourg

8,554

14.5

7.6

8,355

14.1

7.4

State­ment of changes in share­hold­ers’ eq­uity

 

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in CHF 1,000 (Art. 24e Par. 1 Point 3.11 FL-BankV)

2014

Share­hold­ers’ eq­uity at the be­gin­ning of the fi­nan­cial year

 

Sub­scribed and paid-up cap­i­tal

59,148

Le­gal re­serves

239,800

Re­serve for trea­sury shares

10,771

Other re­serves

333,318

Pro­vi­sions for gen­eral bank­ing risks

63,150

Re­tained earn­ings

55,893

To­tal share­hold­ers’ eq­uity at the be­gin­ning of the fi­nan­cial year

762,080

 

 

 

 

in CHF 1,000 (Art. 24e Par. 1 Point 3.11 FL-BankV)

2014

Cap­i­tal in­crease /re­duc­tion (–)

0

Other ap­pro­pri­a­tions / re­leases from re­serves (–)

357

Div­i­dends and other dis­tri­b­u­tions from net in­come of the pre­vi­ous year 1

–20,702

Net in­come for the fi­nan­cial year

20,766

To­tal share­hold­ers’ eq­uity at the end of the fi­nan­cial year

762,501

 

 

of which

 

Sub­scribed and paid-up cap­i­tal

59,148

Le­gal re­serves

239,800

Re­serve for trea­sury shares

9,491

Other re­serves

334,955

Pro­vi­sions for gen­eral bank­ing risks

63,150

Re­tained earn­ings

55,957

  1. 1
    Only div­i­dends to third par­ties.

Ma­tu­rity struc­ture of as­sets as well as li­a­bil­i­ties and pro­vi­sions

 

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in CHF 1,000 
(Art. 24e Par. 1 Point 3.12 FL-BankV)

Sight

Callable

Due within 3 months

Due af­ter 3 to 12 months

Due af­ter 12 months to 5 years

Due af­ter 
5 years

With­out ma­tu­rity

To­tal

As­sets

 

 

 

 

 

 

 

 

Cash bal­ances

1,813,109

 

 

 

 

 

 

1,813,109

Due from banks

571,574

 

864,487

885,045

10,990

422

 

2,332,518

Due from cus­tomers

1,595

214,565

1,237,812

428,129

1,231,294

378,229

 

3,491,624

of which mort­gage re­ceiv­ables

1,597

97,623

821,915

262,150

1,159,615

368,738

 

2,711,638

Trad­ing port­fo­lios of se­cu­ri­ties 
and pre­cious met­als

3,814

 

 

 

 

 

 

3,814

Port­fo­lios of se­cu­ri­ties and 
pre­cious met­als in cur­rent as­sets 
(ex­clud­ing trad­ing port­fo­lios)

1,343,657

 

 

 

 

 

 

1,343,657

Other as­sets

227,414

 

238

 

 

 

103,255

330,907

To­tal as­sets, 31/​12/​2014

3,961,163

214,565

2,102,537

1,313,174

1,242,284

378,651

103,255

9,315,629

To­tal as­sets, 31/​12/​2013

3,322,395

216,046

2,620,286

1,271,221

1,092,051

436,901

107,725

9,066,625

 

 

 

 

 

 

 

 

 

Li­a­bil­i­ties and pro­vi­sions

 

 

 

 

 

 

 

 

Due to banks

1,040,784

149,841

55,115

23,860

 

 

 

1,269,600

Due to cus­tomers

5,318,262

1,147,776

209,926

114,757

1,206

 

 

6,791,927

• sav­ings de­posits

 

855,535

 

 

 

 

 

855,535

• other li­a­bil­i­ties

5,318,262

292,241

209,926

114,757

1,206

 

 

5,936,392

Se­cu­ri­tised li­a­bil­i­ties

 

 

13,877

39,045

323,723

18,664

 

395,309

• is­sued deben­tures

 

 

13,877

39,045

323,723

18,664

 

395,309

of which medium-term notes

 

 

13,877

39,045

123,723

18,664

 

195,309

Pro­vi­sions (ex­clud­ing pro­vi­sions 
for gen­eral bank­ing risks)

15,094

 

 

 

 

 

 

15,094

Other li­a­bil­i­ties

80,569

 

629

 

 

 

 

81,198

To­tal li­a­bil­i­ties, 31/​12/​2014

6,454,709

1,297,617

279,547

177,662

324,929

18,664

 

8,553,128

To­tal li­a­bil­i­ties, 31/​12/​2013

6,462,158

986,228

215,878

292,330

340,145

7,806

 

8,304,545

 

 

 

 

 

 

 

 

 

Deben­tures and other in­ter­est-bear­ing se­cu­ri­ties which ma­ture in the fol­low­ing fi­nan­cial year

 

203,574

Is­sued deben­tures which ma­ture in the fol­low­ing fi­nan­cial year

 

52,921

Re­ceiv­ables from and payables to par­tic­i­pa­tions, af­fil­i­ated com­pa­nies and qual­i­fy­ing par­tic­i­pants, as well as loans to gov­ern­ing bod­ies and ma­te­r­ial trans­ac­tions with re­lated per­sons

 

to topDownload Excel

in CHF 1,000 (Art. 24e Par. 1 Point 3.13 FL-BankV)

31/​12/​2014

31/​12/​2013

Re­ceiv­ables from and payables to par­tic­i­pa­tions, af­fil­i­ated com­pa­nies and qual­i­fy­ing par­tic­i­pants

 

 

Re­ceiv­ables from par­tic­i­pa­tions

0

0

Payables to par­tic­i­pa­tions

487

575

Re­ceiv­ables from af­fil­i­ated com­pa­nies

196,181

164,922

Payables to af­fil­i­ated com­pa­nies

1,033,224

1,112,188

Re­ceiv­ables from qual­i­fy­ing par­tic­i­pants

0

0

Payables to qual­i­fy­ing par­tic­i­pants

23,170

19,657

 

 

 

Loans to gov­ern­ing bod­ies

 

 

Mem­bers of the Ex­ec­u­tive Board and par­ties re­lated thereto

1,435

5,460

Mem­bers of the Board of Di­rec­tors and par­ties re­lated thereto 1

4,180

3,635


  1. 1
    Ex­clud­ing re­ceiv­ables from re­lated qual­i­fy­ing par­tic­i­pants.

VP Bank also makes pay­ments to re­lated per­sons within the frame­work of bro­ker­age ser­vices and bought-in ad­vi­sory ser­vices. These cor­re­spond to 
cus­tom­ary mar­ket con­di­tions. The ag­gre­gate amount of such pay­ments and fees in 2014 to­talled CHF 0.481 mil­lion (prior year: CHF 0.327 mil­lion).

Re­mu­ner­a­tion paid to mem­bers of gov­ern­ing bod­ies

 

to topDownload Excel

in CHF 1,000 

Re­mu­ner­a­tion1,2

 

To­tal re­mu­ner­a­tion

(Art. 663b­bis Swiss 
Code of Oblig­a­tions)

 Fixed

 

Thereof in bearer shares (mar­ket value)

Pen­sion fund, se­nior 
em­ployee in­sur­ance

 

 

2014

 

2013

 

2014

2013

2014

2013

2014

2013

Board of Di­rec­tors

 

 

 

 

 

 

 

 

 

 

Fredy Vogt, Chair­man A,D

560

 

605

 

140

151

85

68

645

673

Dr Guido Meier, Vice Chair­man B

115

 

115

 

29

29

 

 

115

115

Prof. Teodoro D. Cocca, BoD B

105

 

86

 

26

22

 

 

105

86

Roland Feger, BoD D,E

 

 

60

 

 

15

 

 

0

60

Walo Frischknecht, BoD F

68

 3

135

 3

17

34

 

 

68

135

Dr Beat Graf, BoD G

56

 

 

 

14

 

 

 

56

0

Markus Thomas Hilti, BoD B

105

 

105

 

26

26

 

 

105

105

Max E. Katz, BoD H

 

 

83

 

 

21

 

 

0

83

Michael Riesen, BoD C, G

94

 

 

 

23

 

 

 

94

0

Dr Daniel H. Sigg, BoD D

120

 

88

 

30

22

 

 

120

88

To­tal Board of Di­rec­tors

1,222

 

1,276

 

306

319

85

68

1,307

1,344

  1. A
    Chair­man of the Nom­i­na­tion & Com­pen­sa­tion Com­mit­tee
  2. B
    Mem­ber of the Nom­i­na­tion & Com­pen­sa­tion Com­mit­tee
  3. C
     Chair­man of the Au­dit & Risk Man­age­ment Com­mit­tee
  4. D
    Mem­ber of the Au­dit & Risk Man­age­ment Com­mit­tee
  5. E
    Mem­ber of the Board of Di­rec­tors up to 26 April 2013
  6. F
    Mem­ber of the Board of Di­rec­tors up to 25 April 2014
  7. G
    Mem­ber of the Board of Di­rec­tors as from 25 April 2014
  8. H
    Mem­ber of the Board of Di­rec­tors up to 23 Sep­tem­ber 2013
 
  1. 1
     So­cial-se­cu­rity costs and any ap­plic­a­ble value-added taxes on the emol­u­ments paid to the Board mem­bers are borne by VP Bank.
  2. 2
     Com­pen­sa­tion for out-of-pocket ex­penses is not in­cluded. 
  3. 3
    In­clud­ing re­mu­ner­a­tion as rep­re­sen­ta­tive of the Board of Di­rec­tors in the pen­sion fund

 

 

in CHF 1,000

 

 Re­mu­ner­a­tion 1,2,3

 

To­tal 
re­mu­ner­a­tion

(Art. 663b­bis Swiss 
Code of Oblig­a­tions)

Fixed
ba­sic salary 4

Short-Term

In­cen­tive (STI)

Per­for­mance Share Plan 

(PSP)

Re­stricted 
Share Plan 

(RSP)

Pen­sion fund, se­nior 
em­ployee 
in­sur­ance

 

 

2014

2013

2014

2013

2014

2013

2014

2013

2014

2013

2014

2013

Ex­ec­u­tive Man­age­ment

1,830

2,823

475

708

1,078

2,150

483

 

310

393

4,176

6,074

 

 

 

 

 

 

 

 

 

 

 

 

 

High­est re­mu­ner­a­tion

 

 

 

 

 

 

 

 

 

 

 

 

Al­fred W. Moeckli 5

700

583

150

233

450

700

202

 

118

63

1,620

1,579

 

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With the adop­tion of the new com­pen­sa­tion model de­scribed in the sec­tion on cor­po­rate gov­er­nance (Art. 5.1.2, pages 73 f.), the com­pen­sa­tion ac­tu­ally paid out in the ac­count­ing pe­riod is no longer dis­closed, but rather the en­ti­tle­ments to per­for­mance-based and re­stricted shares in ad­di­tion to the fixed ba­sic salary and the cash com­pen­sa­tion (STI). The 2013 com­par­a­tive fig­ures were ad­justed ac­cord­in­gly. The num­ber of bearer shares (en­ti­tle­ment from the per­for­mance share plan) as well as the re­lated mon­e­tary ben­e­fit are fixed de­fin­i­tively only at the end of the re­spec­tive plan­ning pe­riod (or at the time of trans­fer­ring the bearer shares). As part of the 2014–2016 plan, 12,181 per­for­mance-based units and 5,457 re­stricted units were al­lo­cated from the PSP and RSP, re­spec­tively. The com­pu­ta­tion of the num­ber of shares trans­ferred upon ex­piry of the plan pe­riod is de­pen­dent upon the achieve­ment of the tar­gets (re­turn on eq­uity and cost in­come ra­tio). The mon­e­tary ben­e­fit from the re­spec­tive PSP and RSP pro­grammes will by de­f­i­n­i­tion be de­ter­mined by the eq­uity share price at the time of trans­fer of ti­tle to the shares. 

  1. 1
    Com­pen­sa­tion for out-of-pocket ex­penses is not in­cluded.
  2. 2
    The mem­bers of the Ex­ec­u­tive Board re­tir­ing dur­ing the fi­nan­cial year are in­cluded up to the date when they re­lin­quished their func­tions.
  3. 3
    As a re­sult of the amend­ment, the prior-year com­par­a­tive fig­ures were re­stated ac­cord­in­gly in the dis­clo­sure on com­pen­sa­tion.
  4. 4
    Gifts for length of ser­vice are in­cluded.
  5. 5
    CEO as of 1 May 2013

 

Share­hold­ings in VP Bank

 

 

Loans 
and cred­its

 Re­lated par­ties 1

 

Num­ber of shares 
(in­clud­ing re­lated par­ties, 
ex­clud­ing qual­i­fy­ing par­tic­i­pants)

 

 

 

Loans 
 and cred­its

Re­mu­ner­a­tion 
for ser­vices
pro­vided

 

 Reg­is­tered shares

 

 

 Bearer shares

 

 

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

2014

2013

2014

2013

2014

2013

Board of Di­rec­tors

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fredy Vogt

 

 

 

 

 

 

17,675

 

 

12,067

 

 

630

635

 

 

 

 

Dr Guido Meier

79,600

2

 

79,600

 2

 

48,688

2

 

48,316

2

 

3,450

2,900

2,835

 

400

250

Prof. Teodoro D. Cocca

 

 

 

 

 

 

1,093

 

 

753

 

 

 

 

 

 

5

 

Walo Frischknecht 3

 

 

 

 

 

 

n.a.

 

 

2,274

 

 

 

 

 

 

46

65

Dr Beat Graf

 

 

 

 

 

 

183

 

 

 

 

 

 

 

 

 

 

 

Markus Thomas Hilti

 

 

 

 

 

 

5,379

2

 

5,039

2

 

 

 

 

 

 

 

Michael Riesen

 

 

 

 

 

 

303

 

 

 

 

 

 

 

 

 

15

 

Dr Daniel H. Sigg

 

 

 

 

 

 

3,868

 

 

3,480

 

 

100

100

 

 

15

12

To­tal Board of Di­rec­tors

79,600

 

 

79,600

 

 

77,189

 

 

71,929

 

 

4,180

3,635

2,835

none

481

327

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ex­ec­u­tive Man­age­ment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Al­fred W. Moeckli, CEO 4

 

 

 

 

 

 

6,250

 

 

5,250

 

 

 

 

 

 

 

 

Sieg­bert Näscher, CFO

 

 

 

 

 

 

1,342

 

 

250

 

 

1,000

1,100

 

 

 

 

Christoph Mauchle 5

 

 

 

 

 

 

10,000

 

 

5,000

 

 

435

 

 

 

 

 

Mar­tin En­gler 6

 

 

 

 

 

 

n.a.

 

 

300

 

 

n.a.

2,260

 

 

 

 

Rolf Jer­mann 6

 

 

 

 

 

 

n.a.

 

 

1,177

 

 

n.a.

1,100

 

 

 

 

Gün­ther Kauf­mann 6

 

 

 

 

 

 

n.a.

 

 

1,217

 

 

 

 

 

 

 

 

Juerg W. Sturzeneg­ger 6

 

 

 

 

 

 

n.a.

 

 

2,198

 

 

n.a.

1,000

 

 

 

 

To­tal Ex­ec­u­tive Man­age­ment

none

 

 

none

 

 

17,592

 

 

15,392

 

 

1,435

5,460

none

none

none

none

  1. 1
    In­di­vid­ual or le­gal en­ti­ties which are eco­nom­i­cally, legally or de facto closely re­lated to a mem­ber of one of the gov­ern­ing bod­ies.
  2. 2
    Ex­clud­ing the num­ber of shares of the sig­nif­i­cant share­hold­ers (qual­i­fy­ing par­tic­i­pants).
  3. 3
    Mem­ber of the Board of Di­rec­tors up to 25 April 2014
  4. 4
     CEO as of 1 Oc­to­ber 2013
  5. 5
    GEM mem­ber as of 1 Oc­to­ber 2013
  6. 6
    GEL mem­ber up to 31 De­cem­ber 2013
to topDownload Excel

Bal­ance sheet – do­mes­tic and for­eign

 

to topDownload Excel

in CHF 1,000

31/​12/​2014

31/​12/​2013 

(Art. 24e Par. 1 Point 3.14 FL-BankV)

Do­mes­tic 

For­eign

Do­mes­tic

For­eign

As­sets

 

 

 

 

Cash bal­ances

1,813,109

 

1,256,071

 

Due from banks

1,222,339

1,110,179

1,227,778

1,932,753

Due from cus­tomers

3,175,199

316,425

2,988,803

267,465

of which mort­gage re­ceiv­ables

2,707,515

4,123

2,578,803

4,378

Deben­tures and other in­ter­est-bear­ing se­cu­ri­ties

 

1,268,652

1,996

1,007,999

Eq­uity shares and other non-in­ter­est-bear­ing se­cu­ri­ties

38,253

30,887

43,789

25,335

Par­tic­i­pa­tions

25

 

127

 

Shares in af­fil­i­ated com­pa­nies

10,600

109,550

10,600

99,835

In­tan­gi­ble as­sets

9,766

 

18,990

 

Prop­erty and equip­ment

106,996

 

111,286

 

Trea­sury shares

9,491

 

10,771

 

Other as­sets

69,240

9,061

38,166

9,116

Ac­crued re­ceiv­ables and pre­paid ex­penses

4,908

10,949

5,610

10,135

To­tal as­sets

6,459,926

2,855,703

5,713,987

3,352,638

 

 

 

 

 

Li­a­bil­i­ties and share­hold­ers’ eq­uity

 

 

 

 

Due to banks

917,709

351,891

1,000,101

238,242

Due to cus­tomers

4,488,795

2,303,132

4,207,444

2,303,703

• sav­ings de­posits

707,574

147,961

727,216

149,956

• other li­a­bil­i­ties

3,781,221

2,155,171

3,480,228

2,153,747

Se­cu­ri­tised li­a­bil­i­ties

395,309

 

445,722

 

Other li­a­bil­i­ties

58,833

8,889

74,121

6,697

Ac­crued li­a­bil­i­ties and de­ferred items

13,389

87

14,515

74

Pro­vi­sions

15,094

 

13,926

 

Pro­vi­sions for gen­eral bank­ing risks

63,150

 

63,150

 

Sub­scribed cap­i­tal

59,148

 

59,148

 

In­come re­serves

584,246

 

583,889

 

• le­gal re­serves

239,800

 

239,800

 

• re­serve for trea­sury shares

9,491

 

10,771

 

• other re­serves

334,955

 

333,318

 

Re­tained earn­ings brought for­ward

35,191

 

14,692

 

Net profit for the year

20,766

 

41,201

 

To­tal li­a­bil­i­ties and share­hold­ers’ eq­uity

6,651,630

2,663,999

6,517,909

2,548,716

In ac­cor­dance with the Bank­ing Or­di­nance (Art. 24e Par. 1), Switzer­land counts as do­mes­tic.

As­sets in in­di­vid­ual coun­tries / groups of coun­tries

 

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in CHF 1,000

31/​12/​2014

31/​12/​2013 

 (Art. 24e Par. 1 Point 3.15 FL-BankV)

Ab­solute 

Share in %

Ab­solute

Share in %

As­sets

 

 

 

 

Liecht­en­stein/​Switzer­land

6,459,926

69.3

5,713,987

63.0

Eu­rope (ex­clud­ing Liecht­en­stein/​Switzer­land)

2,159,687

23.2

2,786,892

30.8

North Amer­ica

262,269

2.8

220,458

2.4

Asia

183,333

2.0

93,197

1.0

Caribbean

158,373

1.7

134,570

1.5

Other

92,041

1.0

117,521

1.3

To­tal as­sets

9,315,629

100.0

9,066,625

100.0

Bal­ance sheet by cur­rency

 

to topDownload Excel

in CHF 1,000 (Art. 24e Par. 1 Point 3.16 FL-BankV)

CHF

USD

EUR

Other

To­tal

As­sets

 

 

 

 

 

Cash bal­ances

1,807,229

268

5,195

417

1,813,109

Due from banks

429,278

647,238

774,532

481,470

2,332,518

Due from cus­tomers

2,977,428

199,173

273,489

41,534

3,491,624

of which mort­gage re­ceiv­ables

2,703,528

13

8,097

 

2,711,638

Deben­tures and other in­ter­est-bear­ing se­cu­ri­ties

410,981

373,525

484,146

 

1,268,652

Eq­uity shares and other non-in­ter­est-bear­ing se­cu­ri­ties

21,298

21,982

25,860

 

69,140

Par­tic­i­pa­tions

25

 

 

 

25

Shares in af­fil­i­ated com­pa­nies

120,150

 

 

 

120,150

In­tan­gi­ble as­sets

9,766

 

 

 

9,766

Prop­erty and equip­ment

106,996

 

 

 

106,996

Trea­sury shares

9,491

 

 

 

9,491

Other as­sets

74,020

2,088

1,976

217

78,301

Ac­crued re­ceiv­ables and pre­paid ex­penses

7,043

3,263

5,148

403

15,857

To­tal on-bal­ance-sheet as­sets

5,973,705

1,247,537

1,570,346

524,041

9,315,629

De­liv­ery claims aris­ing from for­eign-ex­change spot, 
for­ward and op­tion trans­ac­tions

176,858

1,404,481

821,564

224,705

2,627,608

To­tal as­sets, 31/​12/​2014

6,150,563

2,652,018

2,391,910

748,746

11,943,237

To­tal as­sets, 31/​12/​2013

6,211,003

2,988,841

2,837,407

889,481

12,926,732

 

 

 

 

 

 

Li­a­bil­i­ties and share­hold­ers’ eq­uity

 

 

 

 

 

Due to banks

324,090

515,863

268,334

161,313

1,269,600

Due to cus­tomers

2,876,955

1,807,990

1,688,658

418,324

6,791,927

• sav­ings de­posits

855,129

 

406

 

855,535

• other li­a­bil­i­ties

2,021,826

1,807,990

1,688,252

418,324

5,936,392

Se­cu­ri­tised li­a­bil­i­ties

369,384

4,398

21,527

 

395,309

Other li­a­bil­i­ties

49,515

4,939

9,836

3,432

67,722

Ac­crued li­a­bil­i­ties and de­ferred items

13,311

80

31

54

13,476

Pro­vi­sions

15,094

 

 

 

15,094

Pro­vi­sions for gen­eral bank­ing risks

63,150

 

 

 

63,150

Sub­scribed cap­i­tal

59,148

 

 

 

59,148

In­come re­serves

584,246

 

 

 

584,246

• le­gal re­serves

239,800

 

 

 

239,800

• re­serve for trea­sury shares

9,491

 

 

 

9,491

• other re­serves

334,955

 

 

 

334,955

Re­tained earn­ings brought for­ward

35,191

 

 

 

35,191

Net in­come of the year

20,766

 

 

 

20,766

To­tal on-bal­ance-sheet li­a­bil­i­ties and share­hold­ers’ eq­uity

4,410,850

2,333,270

1,988,386

583,123

9,315,629

De­liv­ery oblig­a­tions aris­ing from for­eign-ex­change spot, 
for­ward and op­tion trans­ac­tions

1,776,494

291,211

358,045

165,050

2,590,800

To­tal li­a­bil­i­ties and share­hold­ers’ eq­uity, 31/​12/​2014

6,187,344

2,624,481

2,346,431

748,173

11,906,429

To­tal li­a­bil­i­ties and share­hold­ers’ eq­uity, 31/​12/​2013

6,289,957

2,959,279

2,786,969

888,781

12,924,986

 

 

 

 

 

 

Net po­si­tion per cur­rency

–36,781

27,537

45,479

573

 

Con­tin­gent li­a­bil­i­ties

 

to topDownload Excel

in CHF 1,000 (Art. 24e Par. 1 Point 4.1 FL-BankV)

31/​12/​2014

31/​12/​2013

Vari­ance
ab­solute

Vari­ance 
in %

Con­tin­gent li­a­bil­i­ties

 

 

 

 

Credit guar­an­tees and sim­i­lar

26,213

28,915

–2,702

–9.3

Per­for­mance guar­an­tees and sim­i­lar

26,637

29,096

–2,459

–8.4

Other con­tin­gent li­a­bil­i­ties

0

0

0

0.0

To­tal con­tin­gent li­a­bil­i­ties

52,850

58,011

–5,161

–8.9

Un­set­tled de­riv­a­tive fi­nan­cial in­stru­ments

 

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in CHF 1,000 (Art. 24e Par. 1 Point 4.3 FL-BankV)

Trad­ing in­stru­ments

Hedg­ing in­stru­ments

 

Pos­i­tive 
re­place­ment val­ues

Neg­a­tive re­place­ment val­ues

Con­tract vol­umes

Pos­i­tive 
re­place­ment val­ues

Neg­a­tive re­place­ment val­ues

Con­tract vol­umes

In­ter­est-rate in­stru­ments

 

 

 

 

 

 

Swaps

 

 

 

 

31,433

377,847

Fu­tures

 

 

 

 

 

74,239

Op­tions (OTC)

 

 

 

 

 

 

 

 

 

 

 

 

 

For­eign ex­change / pre­cious met­als

 

 

 

 

 

 

For­ward con­tracts

3,179

4,719

291,127

 

 

 

Com­bined in­ter­est-rate /cur­rency swaps

44,459

6,112

2,213,429

 

 

 

Op­tions (OTC)

1,207

1,207

123,052

 

 

 

 

 

 

 

 

 

 

Eq­uity in­stru­ments/​in­dices

 

 

 

 

 

 

Fu­tures

 

 

 

 

 

10,910

Op­tions (ex­change-traded)

 

509

17,095

 

 

 

 

 

 

 

 

 

 

To­tal prior to con­sid­er­a­tion of net­ting agree­ments, 31/​12/​2014

48,845

12,547

2,644,704

0

31,433

462,996

To­tal prior to con­sid­er­a­tion of net­ting agree­ments, 31/​12/​2013

28,696

27,279

3,869,166

964

19,183

358,565

Fi­nan­cial in­stru­ments falling un­der a net­ting agree­ment do not meet the re­quire­ments for off­set­ting for bal­ance-sheet pur­poses, which is why the 
car­ry­ing val­ues of the re­lated fi­nan­cial in­stru­ments are not net­ted in the bal­ance sheet (Group fi­nan­cial state­ments – note 38, page 138).

Fidu­ciary trans­ac­tions

 

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in CHF 1,000 (Art. 24e Par. 1 Point 4.4 FL-BankV)

31/​12/​2014

31/​12/​2013

Vari­ance
ab­solute

Vari­ance 
in %

Fidu­ciary trans­ac­tions

 

 

 

 

Fidu­ciary de­posits

402,031

556,964

–154,933

–27.8

• fidu­ciary de­posits with third-party banks

396,995

551,072

–154,077

–28.0

• fidu­ciary de­posits with af­fil­i­ated banks and fi­nance com­pa­nies

5,036

5,892

–856

–14.5

Fidu­ciary loans

0

1,616

–1,616

–100.0

Other fidu­ciary trans­ac­tions of fi­nan­cial na­ture

0

0

0

0.0

To­tal fidu­ciary trans­ac­tions

402,031

558,580

–156,549

–28.0

In­for­ma­tion re­gard­ing the in­come state­ment

 

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in CHF 1,000 (Art. 24e Par. 1 Point 5.2 FL-BankV)

2014

2013

Vari­ance
ab­solute

Vari­ance 
in %

In­come from trad­ing ac­tiv­i­ties

 

 

 

 

Gains from se­cu­ri­ties

–19

591

–610

–103.2

Gains from for­eign-ex­change de­riv­a­tives

–4,303

–5,361

1,058

–19.7

Gains from for­eign-ex­change trans­ac­tions

21,567

16,142

5,425

33.6

Gains from trad­ing in ban­knotes

1,284

1,450

–166

–11.5

Gains from pre­cious met­als

258

596

–338

–56.8

To­tal in­come from trad­ing ac­tiv­i­ties

18,787

13,418

5,369

40.0

 

 

 

 

 

in CHF 1,000 (Art. 24e Abs. 1 Ziff. 5.3 FL-BankV)

2014

2013

Vari­ance
ab­solute

Vari­ance 
in %

Per­son­nel ex­penses

 

 

 

 

Salaries and wages

57,408

60,111

–2,703

–4.5

So­cial se­cu­rity costs and staff re­tire­ment pen­sions and as­sis­tance costs

14,682

11,835

2,847

24.1

of which for staff re­tire­ment pen­sions

13,387

10,780

2,607

24.2

Other per­son­nel ex­penses

2,392

3,672

–1,280

–34.8

To­tal per­son­nel ex­penses

74,482

75,618

–1,136

–1.5

Salaries of mem­bers of the Board of Di­rec­tors and the Ex­ec­u­tive Board are dis­closed un­der “Re­mu­ner­a­tion paid to mem­bers of gov­ern­ing bod­ies” 
(pages 164 f.).

 

 

in CHF 1,000 (Art. 24e Par. 1 Point 5.4 FL-BankV)

2014

2013

Vari­ance
ab­solute

Vari­ance 
in %

Gen­eral and ad­min­is­tra­tive ex­penses

 

 

 

 

Oc­cu­pancy ex­penses

2,233

2,562

–329

–12.8

Ex­penses for IT, equip­ment, fur­ni­ture, mo­tor ve­hi­cles and other in­stal­la­tions

9,112

9,176

–64

–0.7

Other busi­ness ex­penses

15,916

15,326

590

3.9

To­tal gen­eral and ad­min­is­tra­tive ex­penses

27,261

27,064

197

0.7

 

 

 

 

 

in CHF 1,000 (Art. 24e Par. 2 Point 6e FL-BankV)

2014

2013

Vari­ance
ab­solute

Vari­ance 
in %

Other or­di­nary in­come

 

 

 

 

In­come from real es­tate

335

351

–16

–4.6

Other or­di­nary in­come 1

2,767

5,962

–3,195

–53.6

To­tal other or­di­nary in­come

3,102

6,313

–3,211

–50.8

  1. 1
    2014: thereof CHF 2.380 mil­lion re­sult­ing from ser­vice level agree­ments within the Group.
    2013: thereof CHF 2.781 mil­lion­re­sult­ing from ser­vice level agree­ments within the Group, CHF 1.706 mil­lion earn­ings from di­vesti­ture of par­tic­i­pa­tions.

Other as­sets and li­a­bil­i­ties

 

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in CHF 1,000 (Art. 24e Par. 2 Point 6 FL-BankV)

31/​12/​2014

31/​12/​2013

Vari­ance
ab­solute

Vari­ance 
in %

Other as­sets

 

 

 

 

Pre­cious met­als

188

230

–42

–18.0

Un­set­tled de­riv­a­tive fi­nan­cial in­stru­ments (pos­i­tive re­place­ment val­ues)

48,845

29,660

19,185

64.7

• trad­ing po­si­tions

48,845

28,696

20,149

70.2

• liq­uid­ity po­si­tions

0

964

–964

–100.0

Com­pen­sa­tion ac­counts

28,150

16,232

11,918

73.4

Set­tle­ment ac­counts

316

621

–305

–49.2

Mis­cel­la­neous other as­sets

802

539

263

48.8

To­tal other as­sets

78,301

47,282

31,019

65.6

 

 

 

 

 

Other li­a­bil­i­ties

 

 

 

 

Ac­counts for dis­burse­ment of taxes and fees

4,467

4,722

–255

–5.4

Un­set­tled de­riv­a­tive fi­nan­cial in­stru­ments (neg­a­tive re­place­ment val­ues)

43,979

46,462

–2,483

–5.3

• trad­ing po­si­tions

12,547

27,278

–14,731

–54.0

• liq­uid­ity po­si­tions

31,432

19,184

12,248

63.9

Com­pen­sa­tion ac­counts

0

1,122

–1,122

–100.0

Set­tle­ment ac­counts

18,143

27,672

–9,529

–34.4

Mis­cel­la­neous other li­a­bil­i­ties

1,133

840

293

34.9

To­tal other li­a­bil­i­ties

67,722

80,818

–13,096

–16.2

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