8 Netting of financial assets and financial liabilities
The table below provides an overview of the financial assets and financial liabilities which are subject to an enforceable netting agreement or similar agreements. LLB Group has concluded agreements with various counterparties which permit netting. These are mainly agreements in connection with securities lending and borrowing transactions, reverse-repurchase deals and over-the-counter transactions LLB Group does not conduct netting with the financial assets and financial liabilities of balance sheet transactions because the legal requirements for netting are not satisfied. Accordingly, the table below shows unnetted amounts in the balance sheet, risks therefore which the bank has accepted with the individual executed transactions, and which existed on the balance sheet date. The information provided in the table below does not represent the current credit risk in connection with the transactions conducted by LLB Group.
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Subject to netting agreements |
Potential netting amounts |
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in CHF thousands |
Gross amounts before netting |
Netting amounts |
On the balance sheet recognised amounts, net |
Financial instruments |
Financial collaterals |
Amounts after potential netting |
Amounts without potential netting |
On the balance sheet recognised amounts |
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31.12.2015 |
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Financial assets subject to off-setting, enforceable netting agreements or similar arrangements |
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Reverse repurchase agreements |
884'088 |
0 |
884'088 |
0 |
–778'478 |
105'610 |
0 |
884'088 |
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Positive replacement values |
62'012 |
0 |
62'012 |
–8'066 |
–57'361 |
–3'414 |
0 |
62'012 |
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Cash collateral receivables on derivative instruments |
112'769 |
0 |
112'769 |
–112'769 |
0 |
0 |
0 |
112'769 |
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Total assets |
1'058'869 |
0 |
1'058'869 |
–120'834 |
–835'838 |
102'196 |
0 |
1'058'869 |
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Financial liabilities subject to off-setting, enforceable netting agreements or similar arrangements |
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Reverse repurchase agreements |
80'000 |
0 |
80'000 |
0 |
–79'270 |
730 |
0 |
80'000 |
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Negative replacement values |
151'594 |
0 |
151'594 |
–112'769 |
0 |
38'825 |
0 |
151'594 |
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Cash collateral payables on derivative instruments |
6'938 |
0 |
6'938 |
–6'938 |
0 |
0 |
0 |
6'938 |
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Total liabilities |
238'531 |
0 |
238'531 |
–119'706 |
–79'270 |
39'555 |
0 |
238'531 |
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31.12.2016 |
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Financial assets subject to off-setting, enforceable netting agreements or similar arrangements |
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Reverse repurchase agreements |
238'874 |
0 |
238'874 |
0 |
–176'431 |
62'443 |
0 |
238'874 |
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Positive replacement values |
82'607 |
0 |
82'607 |
–4'008 |
–71'427 |
7'172 |
0 |
82'607 |
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Cash collateral receivables on derivative instruments |
118'747 |
0 |
118'747 |
–118'747 |
0 |
0 |
0 |
118'747 |
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Total assets |
440'228 |
0 |
440'228 |
–122'755 |
–247'858 |
69'615 |
0 |
440'228 |
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Financial liabilities subject to off-setting, enforceable netting agreements or similar arrangements |
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Reverse repurchase agreements |
42'903 |
0 |
42'903 |
0 |
–42'863 |
40 |
0 |
42'903 |
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Negative replacement values |
161'976 |
0 |
161'976 |
–118'747 |
0 |
43'229 |
0 |
161'976 |
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Cash collateral payables on derivative instruments |
2'842 |
0 |
2'842 |
–2'842 |
0 |
0 |
0 |
2'842 |
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Total liabilities |
207'721 |
0 |
207'721 |
–121'589 |
–42'863 |
43'269 |
0 |
207'721 |
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