Trading assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2011

Trading assets and liabilities

Trading assets and liabilities

end of	2011	2010
Trading assets (CHF million)
Debt securities	145,035	154,555
Equity securities 1	66,904	102,941
Derivative instruments 2	52,548	47,744
Other	15,066	19,464
Trading assets	279,553	324,704
Trading liabilities (CHF million)
Short positions	67,639	76,094
Derivative instruments 2	60,121	57,903
Trading liabilities	127,760	133,997
1    Including convertible bonds.   2    Amounts shown net of cash collateral receivables and payables.

Cash collateral receivables and payables

end of	2011	2010
Cash collateral receivables (CHF million)
Receivables netted against derivative positions	36,474	28,500
Receivables not netted 1	15,809	14,987
Total	52,283	43,487
Cash collateral payables (CHF million)
Payables netted against derivative positions	37,639	29,238
Payables not netted 1	11,934	14,428
Total	49,573	43,666
1    Recorded as cash collateral on derivative instruments, refer to "Note 22 – Other assets and other liabilities".