Long-term debt (Details) (CHF) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Long-term debt (CHF million)
Senior	123,632	130,792
Subordinated	24,165	23,221
Non-recourse liabilities from consolidated VIEs	14,858	19,739
Long-term debt	162,655	173,752
of which reported at fair value	70,366	83,692
of which structured notes	35,726	37,990

Including the current and noncurrent portions, carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Junior Subordinated Notes, which have a lower priority than senior instruments.

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Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any.

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