Information unaudited Information ungeprüftRisk management

Principles of risk management

One of the core competences of a financial institute is to consciously accept risks and manage them profitably. In its risk policy, the LLB Group defines qualitative and quantitative standards of risk responsibility, risk management and risk control. Furthermore, the organisational and methodical parameters for the identification, measurement, control and monitoring of risks are specified. The proactive management of risk is an integral part of corporate policy and safeguards the LLB Group’s ability to bear and accept risk.

Organisation and responsibilities

Group Board of Directors

The Board of Directors of the LLB Group is responsible for stipulating risk management principles, as well as for specifying responsibilities and procedures for approving business transactions entailing risk. It specifies the basic risk policy and the risk tolerance. In fulfilling its tasks and duties, the Group Board of Directors is supported by the Group Risk Committee.

Group Executive Board

The Group Executive Board is responsible for the overall management of risk readiness within the parameters defined by the Group Board of Directors and for the implementation of the risk management processes. It is supported in this task by various risk committees.

Group Credit & Risk Management

Group Credit & Risk Management identifies, assesses, monitors and reports on the principal risk exposure of the LLB Group and is functionally and organisationally independent of the operative units. It supports the Group Executive Board in the overall management of risk exposure.

Risk categories

The LLB Group is exposed to various types of risks. It differentiates between the following risk categories:

Market risk

The risk of losses arises from unfavourable changes in interest rates, exchange rates, security prices and other relevant market parameters.

Liquidity and refinancing risk

Liquidity and refinancing risk represents the risk of not being able to fulfil payment obligations on time or not being able to obtain refinancing funds on the market at a reasonable price to fulfil current or future payment liabilities.

Credit risk

Credit or counterparty risk includes the danger that a client or a counterparty cannot or cannot completely fulfil their obligations vis à vis the LLB Group or an individual Group company. This can result in a financial loss for the LLB Group.

Operational risk

An operational risk is the danger of losses due to the unsuitability or failure of internal procedures, people or systems, or as a result of external events.

Strategic risk

Strategic risks arise as a result of decisions taken by the Group Executive Board which have a negative influence on the survival, development ability or independence of the LLB Group.

Sustainability risk

Sustainability risks encompass events, conditions or developments in relation to ESG factors which, if they occur, can have significant negative effects on the value of the assets, or financial position and financial performance, or the reputation of the company. ESG factors include:

climate and environmental protection (environment),
social aspects such as human rights and employment standards (corporate social responsibility),
responsible management (corporate governance).

Reputation risk

Reputation is defined as the pubic standing of a company arising from the perception of its stakeholders regarding its competence, integrity and values. Reputation risk consists of the danger of a negative divergence of the LLB from the expected standards.

Risk management process

The implementation of an efficient risk management process is essential to enable risks to be identified, assessed, controlled and monitored. This should generate a culture of awareness at all levels of the LLB Group. The Group Board of Directors specifies the risk strategy, which provides the operative units with a framework for dealing with risks. Depending on the type of risk, not only upper limits for losses must be stipulated, but also a detailed set of regulations which specify which risks may be accepted under what conditions, and when measures to control risks are to implemented.

The following process diagram shows the control loop of the LLB Group’s risk management process.

Internal Capital Adequacy Assessment Process (ICAAP)

For the purposes of ensuring a continual capital adequacy, the LLB Group has in place sound, effective and comprehensive strategies and processes. The bank’s internal capital adequacy assessment process is an important instrument of risk management for the LLB Group. Its goal is to make a significant contribution to the continued existence of the LLB Group by measuring and safeguarding the bank’s capital adequacy from various perspectives.

As part of the normative perspective, an assessment is made of the extent to which the LLB Group is in a position, in various scenarios, to fulfil its quantitative regulatory and supervisory capital requirements over the medium term.

The normative internal perspective is supplemented by an economic internal perspective, within the scope of which all major risks are identified and quantified which, from an economic viewpoint, could cause losses and substantially reduce the amount of internal capital. In conformity with the economic perspective, the LLB Group ensures all its risks are adequately covered by the availability of internal capital.

The adequacy of the Group’s capital resources from the individual perspective has to be tested using internal methods. The quantified risks arising from the individual risk categories are aggregated in an overall risk potential and are compared with the capital available to cover these potential losses. It is then determined to what extent the LLB Group is in a position to bear potential losses.

The LLB Group’s financial strength should remain unimpaired by fluctuations on the capital markets. Scenario analyses and stress tests are employed to simulate external influences and assess their impact on equity capital. Where necessary, measures are implemented to mitigate risks.

The ICAAP is documented in internal regulations and guidelines and is reviewed and revised annually.

1 Market risks

Market risk is the risk that arises from changes in interest rates, exchange rates and security prices in the financial and capital markets. A differentiation is made between market risks in the trading book and market risks in the banking book. The potential for losses exists primarily in the impairment of the value of an asset or the increase in the value of liabilities (market value perspective) as well as in secondary capacity in the diminution of current earnings or an increase in current expenditures (earnings perspective).

1.1 Market risk management

The LLB Group has in place a differentiated risk management and risk control system for market risks. The market risk control process comprises a sophisticated framework of rules involving the identification and the uniform valuation of market risk-relevant data as well as the control, monitoring and reporting of market risks.

Trading book

The trading book contains own positions in financial instruments which are held for short-term further sale or repurchase. These tasks are closely related to the clients’ needs for capital market products and are understood as a supporting activity for the core business.

The LLB Group conducts small-scale trading book activities in accordance with Article 94 (1) of the Capital Requirements Regulation II (CRR II). A limits system is in operation to ensure compliance and is monitored by Group Risk Management. Due to the lack of materiality, the trading book is no longer explained in detail.

Banking book

In general, the holdings in the banking book are employed to pursue long-term investment goals. These holdings include assets, liabilities, and off-balance sheet positions, which are the result, on the one hand, of classical banking business and, on the other, are held to earn revenue over their life.

Market risks with the banking book mainly involve interest rate fluctuation risk, exchange rate risk and equity price risk.

Interest rate fluctuation risk

Interest rate fluctuation risk is regarded as the adverse effects of changes in market interest rates on capital resources or current earnings. The different interest maturity periods of claims and liabilities from balance sheet transactions and derivatives represent the most important basis.

Exchange rate risk

Exchange rate risk relates to the risks arising in connection with the uncertainties regarding future exchange rate trends. The calculation of these risks takes into consideration all the positions entered into by the bank.

Equity price risk

Equity price risk is understood to be the risk of losses due to adverse changes in the market prices of equities.

1.2 Valuation of market risks

Sensitivity analysis

In sensitivity analysis a risk factor is altered. Subsequently, the effects of the alteration of the risk factor on the portfolio concerned are estimated.

Scenario analysis

The aim of the scenario analyses of the LLB Group is to simulate the effects of normal and stress scenarios.

1.3 Management of market risks

In client business, currency risks are basically controlled by making investments or obtaining refinancing in matching currencies. The residual currency risk is restricted by means of sensitivity limits.

Within the specified limit parameters, the individual Group companies are at liberty to manage their interest rate risks as they wish. Interest rate swaps are employed mainly to control interest rate risks.

Equity investments are limited by means of nominal limits.

1.4 Monitoring and reporting of market risks

Group Credit & Risk Management monitors the observance of market risk limits and is also responsible for reporting market risks.

1.5 Effects on Group net profit

Interest rate fluctuation risk

The LLB Group recognises client loans in the balance sheet at amortised cost. This means that a change in the interest rate does not cause any change in the recognised amount and therefore to no significant recognition affecting profit and loss of the effects of interest rate fluctuation. However, fluctuations in interest rates can lead to risks because the LLB Group largely finances long-term loans with customer deposits. Within the scope of financial risk management, these interest rate fluctuation risks in the balance sheet business of the LLB Group are hedged mainly by means of interest rate swaps. If the IFRS hedge accounting criteria for hedging instruments (interest rate swaps) and underlying transactions (loans) are met, the hedged part of the loans is recognised in the balance sheet at fair value. Further information regarding recognition and measurement is provided in the chapter Accounting principles.

Exchange rate risk

The price gains resulting from the valuation of transactions and balances are booked to profit and loss. The price gains resulting from the transfer of the functional currency into the reporting currency are booked under other comprehensive income without affecting profit and loss.

Equity price risk

The valuation is carried out at current market prices. The equity price risk resulting from the valuation at current market prices is reflected in the income statement and in other comprehensive income.

1.6 Sensitivity analysis

In measuring risk, the LLB Group employs scenario analyses to test sensitivities with market risks. The impact on equity capital, according to the assumptions, is shown in the following.

Interest rate sensitivity measures the market change on interest rate-sensitive instruments for the LLB Group caused by a linear interest rate adjustment of + / – 100 basis points.

Currency sensitivity affects both interest rate sensitive and non-interest rate sensitive instruments. The sensitivity of instruments in foreign currencies is determined by multiplying the CHF market value by the assumed exchange rate fluctuation of + / – 10 per cent.

The equity price risks are measured assuming a price fluctuation of + / – 10 per cent on the equity market.

Sensitivity of existing market risks

	31.12.2024	31.12.2023
in CHF thousands	Sensitivity	Sensitivity
Interest rate risk	106’038	108’875
of which affecting net income	59	291
of which not affecting net income	105’979	108’584

Exchange rate risk	35’742	31’801
of which affecting net income	2’192	857
of which not affecting net income	33’550	30’944

Equity price risk	24’465	23’245
of which affecting net income	14	27
of which not affecting net income	24’452	23’218

Foreign exchange risk arises from the following currencies:

	31.12.2024	31.12.2023
in CHF thousands	Sensitivity	Sensitivity
Exchange rate risk	35’742	31’801
of which USD	1’153	702
of which EUR	33’550	30’944
of which others	1’039	155

1.7 Exchange rate risks

in CHF thousands	USD	EUR	Others	Total
31.12.2023
Assets
Cash and balances with central banks	929	1’401’048	112	1’402’090
Due from banks	84’068	84’111	61’136	229’315
Loans	214’557	529’500	45’018	789’075
Financial investments	957’869	832’237	156	1’790’262
Current tax assets	0	112	0	112
Other assets	19’521	181’399	13	200’933
Total assets reported in the balance sheet	1’276’944	3’028’408	106’434	4’411’786
Delivery claims from forex spot, forex futures and forex options transactions	6’815’003	7’590’722	1’806’253	16’211’978
Total assets	8’091’948	10’619’130	1’912’686	20’623’764

Liabilities and equity
Due to banks	55’860	132’828	7’424	196’112
Due to customers	2’443’494	5’082’593	663’376	8’189’464
Debt issued	0	3’754	0	3’754
Current tax liabilities	0	13’533	0	13’533
Other liabilities	18’873	78’955	4’914	102’742
Liabilities and equity reported in the balance sheet	2’518’227	5’311’663	675’714	8’505’604
Delivery liabilities from forex spot, forex futures and forex options transactions	5’566’699	4’998’026	1’235’426	11’800’150
Total liabilities and equity	8’084’925	10’309’689	1’911’140	20’305’754

Net position per currency	7’022	309’441	1’547	318’010


31.12.2024
Assets
Cash and balances with central banks	924	1’705’998	192	1’707’114
Due from banks	56’901	202’057	88’545	347’504
Loans	203’619	717’174	58’349	979’141
Financial investments	963’500	1’030’706	0	1’994’206
Current tax assets	0	51	0	51
Other assets	36’843	199’304	15’803	251’950
Total assets reported in the balance sheet	1’261’786	3’855’291	162’890	5’279’967
Delivery claims from forex spot, forex futures and forex options transactions	8’222’742	7’848’685	2’119’678	18’191’104
Total assets	9’484’528	11’703’976	2’282’567	23’471’071

Liabilities and equity
Due to banks	26’542	39’945	12’685	79’172
Due to customers	2’556’899	5’595’934	826’058	8’978’891
Debt issued	0	2’702	0	2’702
Current tax liabilities	0	5’686	0	5’686
Other liabilities	42’906	91’499	27’152	161’557
Liabilities and equity reported in the balance sheet	2’626’346	5’735’766	865’895	9’228’008
Delivery liabilities from forex spot, forex futures and forex options transactions	6’846’654	5’632’705	1’406’283	13’885’641
Total liabilities and equity	9’473’000	11’368’471	2’272’178	23’113’649

Net position per currency	11’528	335’504	10’389	357’422

1.8 Interest rate repricing balance sheet

In the fixed-interest-rate repricing balance sheet, asset and liability surpluses from fixed-interest rate positions as well as from interest- rate-sensitive derivative positions in the balance sheet are calculated and broken down into maturity ranges (cycle times). The positions with an unspecified duration of interest rate repricing are allocated to the corresponding maturity ranges (cycle times) on the basis of a replication.

Interest commitments of financial assets and liabilities (nominal)

in CHF thousands	Within 1 month	1 to 3 months	4 to 12 months	1 to 5 years	Over 5 years	Total
31.12.2023
Financial assets
Cash and balances with central banks	6’306’045	0	0	0	0	6’306’045
Due from banks	250’415	0	0	0	0	250’415
Loans	5’324’549	1’658’576	1’192’149	5’019’907	2’121’455	15’316’636
Financial investments	66’722	110’226	368’967	1’744’499	307’974	2’598’387
Total financial assets	11’947’731	1’768’802	1’561’116	6’764’406	2’429’428	24’471’483
Derivative financial instruments	1’140’861	77	130’317	250’699	258’090	1’780’045
Total	13’088’592	1’768’879	1’691’433	7’015’105	2’687’519	26’251’528

Financial liabilities
Due to banks	733’246	40’000	175’000	0	0	948’246
Due to customers	11’583’919	2’990’722	1’780’491	2’422’978	416’849	19’194’961
Debt issued	579	25’057	105’104	1’112’479	1’329’036	2’572’256
Total financial liabilities	12’317’744	3’055’779	2’060’596	3’535’458	1’745’886	22’715’462
Derivative financial instruments	640’778	10’023	140’135	594’388	390’000	1’775’323
Total	12’958’521	3’065’802	2’200’731	4’129’845	2’135’886	24’490’785

Interest rate repricing exposure	130’071	– 1’296’923	– 509’298	2’885’260	551’633	1’760’743


31.12.2024
Financial assets
Cash and balances with central banks	5’870’477	0	0	0	0	5’870’477
Due from banks	1’077’777	0	0	0	0	1’077’777
Loans	5’440’264	1’674’799	1’445’004	6’017’952	1’913’901	16’491’920
Financial investments	56’411	203’375	457’736	1’857’089	194’629	2’769’240
Total financial assets	12’444’930	1’878’174	1’902’740	7’875’041	2’108’530	26’209’414
Derivative financial instruments	1’157’278	41	189’660	70’463	633’038	2’050’480
Total	13’602’208	1’878’215	2’092’400	7’945’503	2’741’568	28’259’893

Financial liabilities
Due to banks	761’109	100’861	240’000	0	0	1’101’971
Due to customers	12’149’386	2’782’260	1’906’832	3’084’745	525’802	20’449’025
Debt issued	14’151	29’943	130’122	1’282’698	1’559’821	3’016’734
Total financial liabilities	12’924’645	2’913’064	2’276’954	4’367’444	2’085’622	24’567’729
Derivative financial instruments	904’560	95’022	40’012	849’457	160’000	2’049’051
Total	13’829’205	3’008’086	2’316’966	5’216’901	2’245’622	26’616’781

Interest rate repricing exposure	– 226’998	– 1’129’871	– 224’566	2’728’602	495’945	1’643’113

2 Liquidity and refinancing risk

Liquidity risk is defined as a situation where present and future payment obligations cannot be fully met or met on time, or in the event of a liquidity crisis refinancing funds may only be available at increased market rates (refinancing costs) or assets can only be made liquid at markdowns to market rates (market liquidity risk).

2.1 Internal Liquidity Adequacy Assessment Process (ILAAP)

For the purposes of continually evaluating and adequately ensuring a reasonable liquidity base, the LLB Group has in place sound, effective and comprehensive strategies and processes. The bank’s internal liquidity adequacy assessment process is an important instrument of risk management for the LLB Group. Its goal is to make a significant contribution to the continued existence of the LLB Group by measuring and safeguarding the bank’s liquidity adequacy from various perspectives.

The goal of liquidity risk management at the LLB Group encompasses the following points:

Ensuring the ability to meet financial obligations at all times
Compliance with regulatory provisions
Optimising of refinancing structure
Optimising of payment streams within the LLB Group

From the normative internal perspective, an assessment is made over a period of several years of the extent to which the LLB Group is in a position to fulfil its quantitative regulatory and supervisory liquidity requirements and targets, as well as other external financial constraints.

Within the scope of the economic internal perspective it has to be ensured that internal liquidity is continually adequate to cover the risks and expected outflows, as well as to support the Group’s strategy. All the risks are taken into account, which could have a significant effect on the liquidity positions.

The LLB Group’s liquidity adequacy should remain unimpaired by fluctuations on the markets. Scenario analyses and stress tests are employed to simulate external influences and assess their impact on liquidity adequacy. Where necessary, measures are implemented to mitigate risks.

The ILAAP is documented in internal regulations and guidelines and is reviewed and revised annually.

2.2 Valuation of liquidity risks

In our liquidity risk management concept, scenario analysis plays a central role. This includes the valuation of the liquidity of assets, i.e. the liquidity characteristics of our asset holdings in various stress scenarios.

2.3 Contingency planning

The LLB Group’s liquidity risk management encompasses a contingency plan. The contingency plan includes an overview of emergency measures, sources of alternative financing and governance in stress situations.

2.4 Monitoring and reporting of liquidity risks

Group Credit & Risk Management monitors compliance with liquidity risk limits and is responsible for reporting on liquidity risks.

The following tables show the maturities according to contractual periods, separated according to derivative and non-derivative financial instruments as well as off-balance sheet transactions. The values of derivative financial instruments represent replacement values. All other values correspond to nominal values, i.e. possible interest and coupon payments are included.

Maturity structure of derivative financial instruments


	Term to maturity within 3 months		Term to maturity 4 to 12 months		Term to maturity 1 to 5 years		Term to maturity after 5 years		Total
in CHF thousands	PRV ¹	NRV ¹	PRV	NRV	PRV	NRV	PRV	NRV	PRV	NRV
31.12.2023

Derivative financial instruments in the trading portfolio
Interest rate contracts
Swaps	0	0	460	955	0	0	0	133	460	1’088

Foreign exchange contracts
Forward contracts	17’113	41’086	6’655	7’108	2’550	2’653	0	0	26’317	50’847
Combined interest rate / currency swaps	133’418	211’427	58’543	58’370	486	584	0	0	192’447	270’382
Options (OTC)	127	127	925	932	0	0	0	0	1’052	1’059

Precious metals contracts
Options (OTC)	2	2	20	20	247	247	0	0	269	269

Equity instruments / Index contracts
Options (OTC)	28	28	0	0	0	0	0	0	28	28

Total derivative financial instruments in the trading portfolio	150’688	252’670	66’604	67’385	3’282	3’485	0	133	220’574	323’674


Derivative financial instruments for hedging purposes
Interest rate contracts
Swaps (fair value hedge)	75	0	1’070	1’592	17’578	11’899	47’077	0	65’800	13’491

Total derivative financial instruments for hedging purposes	75	0	1’070	1’592	17’578	11’899	47’077	0	65’800	13’491


Total derivative financial instruments	150’764	252’670	67’674	68’978	20’859	15’384	47’077	133	286’374	337’165

1PRV: Positive replacement values; NRV: Negative replacement values


	Term to maturity within 3 months		Term to maturity 4 to 12 months		Term to maturity 1 to 5 years		Term to maturity after 5 years		Total
in CHF thousands	PRV ¹	NRV ¹	PRV	NRV	PRV	NRV	PRV	NRV	PRV	NRV
31.12.2024

Derivative financial instruments in the trading portfolio
Interest rate contracts
Swaps	0	0	0	2	0	0	0	0	0	2

Foreign exchange contracts
Forward contracts	12’802	11’559	76’418	12’090	1’460	1’695	0	0	90’680	25’344
Combined interest rate / currency swaps	244’686	187’884	62’844	121’281	381	225	0	0	307’911	309’391
Options (OTC)	302	302	189	189	0	0	0	0	491	491

Precious metals contracts
Options (OTC)	189	189	166	166	1’687	1’686	0	0	2’042	2’041

Total derivative financial instruments in the trading portfolio	257’980	199’934	139’617	133’729	3’529	3’607	0	0	401’126	337’269


Derivative financial instruments for hedging purposes
Interest rate contracts
Swaps (fair value hedge)	216	0	272	1’897	9’406	7’210	55’617	0	65’511	9’107

Total derivative financial instruments for hedging purposes	216	0	272	1’897	9’406	7’210	55’617	0	65’511	9’107


Total derivative financial instruments	258’196	199’934	139’889	135’626	12’935	10’817	55’617	0	466’637	346’376

1PRV: Positive replacement values; NRV: Negative replacement values

Maturity structure of non-derivative financial instruments and off-balance sheet transactions

in CHF thousands	Demand deposits	Callable	Due within 3 months	Due between 3 months to 12 months	Due between 12 months to 5 years	Due after 5 years	Total
31.12.2023
Financial assets
Cash and balances with central banks	6’317’925	0	0	0	0	0	6’317’925
Due from banks	385’371	0	0	0	0	0	385’371
Loans	383’466	44’315	5’470’468	1’622’852	6’072’220	2’228’004	15’821’325
Financial investments	0	0	171’813	408’639	1’837’621	315’461	2’733’533
Accrued income and prepaid expenses	0	0	105’995	0	0	0	105’995
Total financial assets	7’086’763	44’315	5’748’277	2’031’491	7’909’840	2’543’465	25’364’150

Financial liabilities
Due to banks	552’294	0	222’184	178’096	0	0	952’574
Due to customers	7’596’373	7’078’415	3’142’484	1’372’659	225’408	12’504	19’427’842
Lease liabilities	0	0	991	4’676	16’296	8’073	30’036
Debt issued	0	0	30’389	120’021	1’183’313	1’382’882	2’716’605
Accrued expenses and deferred income	0	0	76’332	0	0	0	76’332
Total financial liabilities	8’148’666	7’078’415	3’472’380	1’675’453	1’425’017	1’403’459	23’203’390

Net liquidity exposure	– 1’061’904	– 7’034’100	2’275’897	356’038	6’484’823	1’140’006	2’160’760

Off-balance-sheet transactions	867’851	0	0	0	0	0	867’851
Contingent liabilities	55’873	0	0	0	0	0	55’873
Irrevocable commitments	798’190	0	0	0	0	0	798’190
Deposit and call liabilities	13’788	0	0	0	0	0	13’788


31.12.2024
Financial assets
Cash and balances with central banks	5’876’518	0	0	0	0	0	5’876’518
Due from banks	651’392	0	600’173	0	0	0	1’251’565
Loans	423’249	51’894	5’727’248	1’898’698	6’927’633	1’992’714	17’021’436
Financial investments	0	0	271’760	484’367	1’959’991	200’348	2’916’466
Accrued income and prepaid expenses	0	0	155’569	0	0	0	155’569
Total financial assets	6’951’159	51’894	6’754’749	2’383’065	8’887’625	2’193’061	27’221’554

Financial liabilities
Due to banks	721’125	0	141’783	242’353	0	0	1’105’261
Due to customers	9’521’432	7’160’823	2’342’163	1’360’861	288’477	14’515	20’688’272
Lease liabilities	0	0	1’019	4’365	15’791	5’876	27’051
Debt issued	0	0	49’910	151’466	1’379’514	1’638’188	3’219’078
Accrued expenses and deferred income	0	0	114’945	0	0	0	114’945
Total financial liabilities	10’242’557	7’160’823	2’649’820	1’759’045	1’683’782	1’658’579	25’154’607

Net liquidity exposure	– 3’291’398	– 7’108’929	4’104’929	624’020	7’203’842	534’482	2’066’947

Off-balance-sheet transactions	884’261	0	0	0	0	0	884’261
Contingent liabilities	60’008	0	0	0	0	0	60’008
Irrevocable commitments	810’214	0	0	0	0	0	810’214
Deposit and call liabilities	14’039	0	0	0	0	0	14’039

3 Credit risk

Within the scope of credit risk management, vital importance is attached to the avoidance of credit losses and the early identification of default risks. In addition to systematic risk / return management at the individual loan level, the LLB Group proactively manages its credit risks at the credit portfolio level. The primary objective is to reduce the overall level of risk through diversification and a stabilisation of expected returns.

3.1 Credit risk management

Processes and organisational structures ensure that credit risks are identified, uniformly evaluated, controlled, managed, monitored and included in risk reporting.

Basically, the LLB Group conducts its lending business for private and corporate clients on a secured basis. The process of granting a loan is based on a thorough evaluation of the borrower’s creditworthiness, the possible impairment and the legal existence of collateral, as well as risk classification in a rating process performed by experienced credit specialists. The granting of loans is subject to a specified assignment of authority. A major characteristic of the credit approval process is the separation between front and back office functions.

In addition, the LLB Group conducts lending business with banks on a secured and unsecured basis, whereby individual risk limits are approved for every counterparty.

3.2 Evaluation of credit risks

The consistent evaluation of credit risks represents an essential prerequisite of successful risk management. The credit risk can be broken down into the components probability of default, loss given default and the expected exposure at the time point of the default.

Probability of default

The LLB Group assesses the probability of default of individual counterparties by means of an internal rating system. The different rating procedures are adapted to suit the different characteristics of borrowers. The credit risk management ratings employed for banks and debt instruments are based on external ratings from recognised rating agencies.

The reconciliation of the internal rating with the external rating is carried out in accordance with the following master scale.

LLB rating	Description	External rating ²
1 to 4	Investment grade	AAA, Aa1, Aa2, Aa3, A1, A2, A3, Baa1, Baa2, Baa3
5 to 8, not rated ¹	Standard monitoring	Ba1, Ba2, Ba3, B1, B2
9 to 10	Special monitoring	B3, Caa, Ca, C
11 to 14	Sub-standard	Default

1Non-rated loans are covered and subject to limits.

2For the securitisation of credit risks in the standard approach, the LLB Group employs solely the external ratings of the recognised rating agency Moody's (for the segments: due from banks, finance companies and securities firms, due from companies and due from international organisations).

Loss given default

The loss given default is influenced by the amount of collateralisation and the costs of realising the collateral. It is expressed as a percentage of the individual commitment.

The potential loss at portfolio level is broken down as follows at the LLB Group:

Expected loss – Expected loss is a future-related, statistical concept that permits the LLB Group to estimate the average annual costs. It is calculated on the basis of the default probability of a counterparty, the expected credit commitment made to this counterparty at the time of the default, and the magnitude of the loss given default. The concept of expected loss is also applied within the scope of IFRS 9 / ECL (see chapter Accounting principles).
Scenario analysis – The modelling of external credit losses is performed on the basis of stress scenarios, which enable us to evaluate the effects of fluctuations in the default rates of the assets pledged as collateral taking into consideration the existing risk concentration in every portfolio.

3.3 Controlling credit risk

Credit risk management has the task of actively influencing the risk situation of the LLB Group. This is carried out using a limits system, risk-adjusted pricing, through the possibility of using risk hedging instruments and the specific reduction of credit commitments. Risk management is conducted both at the individual loan and at the portfolio level.

Risk restriction

The LLB Group has in place a comprehensive limits system to restrict credit risk exposure. In addition to the limitation of individual credit risks, to prevent risk concentrations, the LLB Group assigns limits for regions and sectors.

Risk mitigation

To mitigate credit risk exposure, the LLB Group takes security mainly in the form of pledged assets and financial collateral. In the case of financial collateral in the form of marketable securities, we determine their collateral value by applying a schedule of reductions, the size of which is based on the quality, liquidity, volatility and complexity of the separate instruments.

Derivatives

The LLB Group may employ credit derivatives to reduce risks. This possibility has not been utilised in recent years.

3.4 Monitoring and reporting of credit risks

The organisational structure of the LLB Group ensures that departments which cause the risks (front office) and those that evaluate, manage and monitor them (back office) are completely separated.

Individual credit risks are monitored by means of a comprehensive limits system. Infringements are immediately reported to the senior officer responsible.

3.5 Risk provisioning

Overdue claims

A claim is deemed to be overdue if a substantial liability from a borrower to the bank is outstanding. The overdraft begins on the date when a borrower exceeds an approved limit, has not paid interest or amortisation, or has utilised an unauthorised credit facility.

For claims that are more than 90 days overdue, individual value allowances are made in the amount of the expected credit loss.

Default-endangered claims

Claims are regarded as being in danger of default if, on the basis of the client’s creditworthiness, a loan default can no longer be excluded in the near future.

Impairments

Basically, an impairment is calculated and a provision set aside for all positions which are subject to a credit risk. Essentially, the credit quality determines the scope of the impairment. If the credit risk has not risen significantly since initial recognition, the expected credit loss is calculated over a year (credit quality level 1). However, if a significant increase in the credit risk has occurred since initial recognition, the expected loss is calculated over the remaining term to maturity (credit quality level 2). In the case of defaulted credit positions – a default in accordance with the Capital Requirements Regulation (CRR) Art. 178 – a specific value allowance is determined and recognised by the Group Recovery Department. The expected credit loss is calculated over the loan’s remaining term to maturity (credit quality level 3).

3.6 Country risks

A country risk arises if specific political or economic conditions in a country affect the value of a foreign position. Country risk is composed of transfer risk (e.g. restrictions on the free movement of money and capital) and other country risks (e.g. country-related liquidity, market and correlation risks).

Country risks are controlled on the basis of a limits system and are continually monitored. Ratings provided by a recognised rating agency are utilised for certain individual countries.

3.7 Risk concentration

The largest credit risk for the LLB Group arises from loans made to customers. In the case of loans to customers, the majority of loans are secured by mortgages, which are granted to clients having first-class creditworthiness within the scope of the LLB Group’s lending policy. Thanks to the diversified nature of the collateral portfolio, containing properties primarily in the Principality of Liechtenstein and in Switzerland, the risk of losses is reduced to a minimum.

Maximal credit risk by region without considering collateral

in CHF thousands	Liechtenstein / Switzerland	Europe excluding FL / CH	North America	Asia	Others ¹	Total
31.12.2023
Credit risks from balance sheet transactions
Due from banks	171’145	101’686	15’606	24’140	4’437	317’014
Loans
Mortgage loans	13’611’826	156’847	713	9’785	8’321	13’787’493
Loans to public institutions	115’201	0	0	0	0	115’201
Miscellaneous loans	710’025	424’378	574	150’251	103’688	1’388’916
Derivative financial instruments	89’286	196’634	0	309	144	286’374
Financial investments
Debt instruments	448’478	1’303’547	611’991	90’986	99’612	2’554’615
Total	15’145’962	2’183’093	628’883	275’473	216’202	18’449’614

Credit risks from off-balance sheet transactions
Contingent liabilities	48’197	6’311	0	899	466	55’873
Irrevocable commitments	519’257	217’080	1	4’172	57’680	798’190
Deposit and call liabilities	13’788	0	0	0	0	13’788
Total	581’242	223’390	1	5’072	58’146	867’851


31.12.2024
Credit risks from balance sheet transactions
Due from banks	935’968	205’028	7’763	24’183	4’779	1’177’721
Loans
Mortgage loans	14’537’736	232’042	601	14’253	7’751	14’792’383
Loans to public institutions	106’568	6	0	0	0	106’574
Miscellaneous loans	863’129	457’787	0	180’587	92’684	1’594’187
Derivative financial instruments	267’104	197’101	0	1’955	476	466’637
Financial investments
Debt instruments	457’621	1’508’852	597’776	96’136	97’654	2’758’038
Total	17’168’126	2’600’815	606’141	317’114	203’344	20’895’540

Credit risks from off-balance sheet transactions
Contingent liabilities	52’887	6’078	0	748	295	60’008
Irrevocable commitments	583’602	180’931	0	10’033	35’648	810’214
Deposit and call liabilities	14’039	0	0	0	0	14’039
Total	650’529	187’009	0	10’781	35’943	884’261

1None of the countries summarised in the position “Others” exceeds 10 per cent of the total volume.

Maximal credit risk by sector without considering collateral

in CHF thousands	Financial services	Real estate	Private households	Others ¹	Total
31.12.2023
Credit risks from balance sheet transactions
Due from banks	317’014	0	0	0	317’014
Loans
Mortgage loans	379’887	4’498’232	7’947’732	961’642	13’787’493
Loans to public institutions	0	0	0	115’201	115’201
Miscellaneous loans	394’371	107’679	447’639	439’227	1’388’916
Derivative financial instruments	283’191	215	1’246	1’721	286’374
Financial investments
Debt instruments	1’706’986	11’809	0	835’821	2’554’615
Total	3’081’449	4’617’935	8’396’617	2’353’613	18’449’614

Credit risks from off-balance sheet transactions
Contingent liabilities	4’461	9’637	13’637	28’139	55’873
Irrevocable commitments	248’413	124’378	208’232	217’168	798’190
Deposit and call liabilities	13’788	0	0	0	13’788
Total	266’662	134’014	221’868	245’307	867’851


31.12.2024
Credit risks from balance sheet transactions
Due from banks	1’177’721	0	0	0	1’177’721
Loans
Mortgage loans	464’476	5’288’765	8’071’887	967’254	14’792’383
Loans to public institutions	0	0	0	106’574	106’574
Miscellaneous loans	425’526	82’495	566’448	519’718	1’594’187
Derivative financial instruments	439’371	1’639	9’454	16’173	466’637
Financial investments
Debt instruments	1’849’690	0	0	908’348	2’758’038
Total	4’356’784	5’372’898	8’647’789	2’518’069	20’895’540

Credit risks from off-balance sheet transactions
Contingent liabilities	5’888	6’642	13’526	33’953	60’008
Irrevocable commitments	200’203	180’689	192’571	236’750	810’214
Deposit and call liabilities	14’039	0	0	0	14’039
Total	220’130	187’331	206’097	270’703	884’261

1CHF 97.9 million of the total volume of loans to public institutions relates to the energy supply sector (previous year: CHF 99.3 million). Federal and central governments comprise CHF 332.0 million of debt instruments (previous year: CHF 201.0 million). With contingent liabilities, CHF 11.2 million was attributable to the sector "Trade" (previous year: CHF 8.5 million). With all other positions under the item "Others", no individual sector exceeds 10 per cent of the total volume.

3.8 Risk of default for financial instruments not measured at fair value through profit and loss according to the creditworthiness of the borrower

The following tables show the creditworthiness of borrowers with financial instruments, which are measured at amortised cost or at fair value through other comprehensive income, as well as for credit commitments and financial guarantees.

The carrying amount of financial instruments, which are measured at fair value through other comprehensive income, is not corrected by means of a value allowance because the impairment is charged directly to other comprehensive income. In the case of credit commitments and financial guarantees, a corresponding provision is set aside.

in CHF thousands	Note	Investment Grade	Standard Monitoring	Special Monitoring	Sub- standard	Total
31.12.2023
Due from banks	12	317’014	0	0	0	317’014
Loans	13	2’858’632	12’140’348	191’446	96’332	15’286’758
Financial investments
Debt instruments	15	2’498’180	0	0	0	2’498’180
Credit risks from balance sheet transactions		5’673’826	12’140’348	191’446	96’332	18’101’952

Financial guarantees		427’917	439’078	558	298	867’851
Credit risks from off-balance sheet transactions		427’917	439’078	558	298	867’851


31.12.2024
Due from banks	12	1’177’721	0	0	0	1’177’721
Loans	13	3’022’469	13’161’411	164’680	140’325	16’488’886
Financial investments
Debt instruments	15	2’728’402	0	0	0	2’728’402
Credit risks from balance sheet transactions		6’928’592	13’161’411	164’680	140’325	20’395’009

Financial guarantees		396’643	487’212	301	106	884’261
Credit risks from off-balance sheet transactions		396’643	487’212	301	106	884’261

	Stage 1	Stage 2	Stage 3
in CHF thousands	Expected 12-months credit loss	Credit losses expected over the period without impairment of creditworthiness	Credit losses expected over the period with impairment of creditworthiness	Total
31.12.2023
Due from banks
Investment grade	317’014	0	0	317’014
Standard monitoring	0	0	0	0
Special monitoring	0	0	0	0
Sub-standard	0	0	0	0
Total gross carrying amount	317’014	0	0	317’014

Total value allowances	0	0	0	0

Total net carrying amount	317’014	0	0	317’014


31.12.2024
Due from banks
Investment grade	1’177’721	0	0	1’177’721
Standard monitoring	0	0	0	0
Special monitoring	0	0	0	0
Sub-standard	0	0	0	0
Total gross carrying amount	1’177’721	0	0	1’177’721

Total value allowances	0	0	0	0

Total net carrying amount	1’177’721	0	0	1’177’721

	Stage 1	Stage 2	Stage 3
in CHF thousands	Expected 12-months credit loss	Credit losses expected over the period without impairment of creditworthiness	Credit losses expected over the period with impairment of creditworthiness	Total
31.12.2023
Loans
Investment grade	2’826’522	32’985	0	2’859’507
Standard monitoring	11’961’230	182’957	0	12’144’187
Special monitoring	161’977	29’608	0	191’585
Sub-standard	0	0	164’591	164’591
Total gross carrying amount	14’949’730	245’549	164’591	15’359’869

Total value allowances	– 4’067	– 786	– 68’259	– 73’112

Total net carrying amount	14’945’663	244’763	96’332	15’286’758


31.12.2024
Loans
Investment grade	2’906’272	117’060	0	3’023’332
Standard monitoring	13’081’459	83’284	0	13’164’742
Special monitoring	141’269	23’475	0	164’744
Sub-standard	0	0	197’098	197’098
Total gross carrying amount	16’129’000	223’819	197’098	16’549’917

Total value allowances	– 3’979	– 279	– 56’773	– 61’031

Total net carrying amount	16’125’020	223’540	140’325	16’488’886

	Stage 1	Stage 2	Stage 3
in CHF thousands	Expected 12-months credit loss	Credit losses expected over the period without impairment of creditworthiness	Credit losses expected over the period with impairment of creditworthiness	Total
31.12.2023
Debt instruments ¹
Investment grade	2’498’180	0	0	2’498’180
Standard monitoring	0	0	0	0
Special monitoring	0	0	0	0
Sub-standard	0	0	0	0
Total (gross) carrying amount ²	2’498’180	0	0	2’498’180

Total value allowances ²	– 234	0	0	– 234


31.12.2024
Debt instruments ¹
Investment grade	2’728’402	0	0	2’728’402
Standard monitoring	0	0	0	0
Special monitoring	0	0	0	0
Sub-standard	0	0	0	0
Total (gross) carrying amount ³	2’728’402	0	0	2’728’402

Total value allowances ³	– 266	0	0	– 266

1The valuation basis is not relevant in relation to the default risk. For this reason debt instruments, which are measured at amortised cost and also at fair value through other comprehensive income, are disclosed together in this table.

2The gross carrying amount of debt instruments, which are measured at amortised cost, amounted to CHF thousands 834'186, the related value allowance minus CHF thousands 80, the net carrying amount CHF thousands 834'106.

3The gross carrying amount of debt instruments, which are measured at amortised cost, amounted to CHF thousands 1'324'378, the related value allowance minus CHF thousands 162, the net carrying amount CHF thousands 1'324'216.

	Stage 1	Stage 2	Stage 3
in CHF thousands	Expected 12-months credit loss	Credit losses expected over the period without impairment of creditworthiness	Credit losses expected over the period with impairment of creditworthiness	Total
31.12.2023
Financial guarantees
Investment grade	427’917	0	0	427’917
Standard monitoring	437’804	1’275	0	439’078
Special monitoring	432	126	0	558
Sub-standard	0	0	298	298
Total credit risk	866’153	1’401	298	867’851

Total provisions	– 2’305	– 94	– 298	– 2’697


31.12.2024
Financial guarantees
Investment grade	396’643	0	0	396’643
Standard monitoring	484’773	2’440	0	487’212
Special monitoring	181	120	0	301
Sub-standard	0	0	106	106
Total credit risk	881’596	2’560	106	884’261

Total provisions	– 2’538	– 87	– 106	– 2’731

3.9 Expected credit loss and value allowances

In the following, the development of expected credit losses and the value adjustments made are disclosed only for material positions.

	Stage 1	Stage 2	Stage 3
in CHF thousands	Expected 12-months credit loss	Credit losses expected over the period without impairment of creditworthiness	Credit losses expected over the period with impairment of creditworthiness	Total
Loans
Valuation allowance as at 1 January 2023	– 2’935	– 409	– 70’647	– 73’990
Transfers
from Stage 1 to Stage 2	23	– 23	0	0
from Stage 2 to Stage 1	– 86	86	0	0
from Stage 2 to Stage 3	0	0	– 0	0
from Stage 3 to Stage 2	0	– 15	15	0
Net revaluation effect	303	– 537	– 63	– 296
Additions from changes to scope of consolidation	0	0	0	0
Addition on account of new loans to customers / interest / loan extension	– 2’661	– 4	0	– 2’666
Disposals due to redemption of loans / waiving of claims / maturity effect	1’283	117	2’435	3’834
Currency effects	6	0	0	6
Valuation allowance as at 31 December 2023	– 4’067	– 786	– 68’259	– 73’112

	Stage 1	Stage 2	Stage 3
in CHF thousands	Expected 12-months credit loss	Credit losses expected over the period without impairment of creditworthiness	Credit losses expected over the period with impairment of creditworthiness	Total
Loans
Valuation allowance as at 1 January 2024	– 4’067	– 786	– 68’259	– 73’112
Transfers
from Stage 1 to Stage 2	12	– 12	0	0
from Stage 2 to Stage 1	– 644	644	0	0
from Stage 2 to Stage 3	0	0	0	0
from Stage 3 to Stage 2	0	0	0	0
Net revaluation effect	653	4	– 21’020	– 20’363
Additions from changes to scope of consolidation	0	0	0	0
Addition on account of new loans to customers / interest / loan extension	– 2’219	– 194	0	– 2’413
Disposals due to redemption of loans / waiving of claims / maturity effect	2’287	65	32’506	34’858
Currency effects	– 2	– 0	0	– 2
Valuation allowance as at 31 December 2024	– 3’979	– 279	– 56’773	– 61’031

	Stage 1	Stage 2	Stage 3
in CHF thousands	Expected 12-months credit loss	Credit losses expected over the period without impairment of creditworthiness	Credit losses expected over the period with impairment of creditworthiness	Total
Financial guarantees
Provision as at 1 January 2023	– 1’623	– 744	– 299	– 2’666
Transfers
from Stage 1 to Stage 2	0	0	0	0
from Stage 2 to Stage 1	– 0	0	0	0
from Stage 2 to Stage 3	0	0	0	0
from Stage 3 to Stage 2	0	0	0	0
Net revaluation effect	– 4	– 3	0	– 7
Additions from changes to scope of consolidation	0	0	0	0
Addition due to granting of new financial guarantees and limit utilisation	– 1’454	0	0	– 1’454
Disposal due to withdrawal of financial guarantees and limit utilisation	770	652	1	1’423
Currency effects	7	0	0	7
Provision as at 31 December 2023	– 2’305	– 94	– 298	– 2’697

	Stage 1	Stage 2	Stage 3
in CHF thousands	Expected 12-months credit loss	Credit losses expected over the period without impairment of creditworthiness	Credit losses expected over the period with impairment of creditworthiness	Total
Financial guarantees
Provision as at 1 January 2024	– 2’305	– 94	– 298	– 2’697
Transfers
from Stage 1 to Stage 2	0	– 0	0	0
from Stage 2 to Stage 1	0	0	0	0
from Stage 2 to Stage 3	0	0	0	0
from Stage 3 to Stage 2	0	0	0	0
Net revaluation effect	10	6	0	16
Additions from changes to scope of consolidation	0	0	0	0
Addition due to granting of new financial guarantees and limit utilisation	– 862	– 1	0	– 862
Disposal due to withdrawal of financial guarantees and limit utilisation	630	2	192	824
Currency effects	– 11	0	0	– 11
Provision as at 31 December 2024	– 2’538	– 87	– 106	– 2’731

3.10 Collateral and positions with impaired credit rating

Chapter 3.7 Risk concentration shows the maximum credit risk without considering possible collateral. The LLB Group pursues the goal of reducing credit risks where possible. This is achieved by obtaining collateral from the borrower. The LLB Group predominantly holds collateral against derivatives (see note 34) as well as against loans to clients and banks.

The types of cover for loans and due from banks are shown in the following tables. These figures are net amounts, i.e. after deduction of expected credit losses.

Types of cover for loans

in CHF thousands	31.12.2024	31.12.2023	+/- %
Secured by mortgage	14’895’088	13’698’213	8.7
Other collateral	1’027’562	864’005	18.9
Unsecured	566’236	724’540	– 21.8
Total	16’488’886	15’286’758	7.9

Loans secured by properties are predominantly secured by residential properties in Switzerland and the Principality of Liechtenstein. In the category “Other collateral” client loans secured by securities (money market instruments, equities, bonds, investment fund units, hedge fund units, structured products, as well as other traditional and alternative financial investments) are reported. To ensure the adequate quality and liquidity of the pledged collateral, the LLB Group pursues a strict collateral quality and lending value system.

If value allowances are made for loans, the amount of the allowance largely depends on the collateral provided by the client. The maximum value allowance may only correspond to the expected liquidation value of the collateral held and is shown in the following table.

in CHF thousands	Gross carrying amount	Impaired credit- worthiness	Net carrying amount	Fair value of collateral held
Financial assets of stage 3 on reporting date 31.12.2023
Loans	164’591	– 68’259	96’332	96’332

Financial assets of stage 3 on reporting date 31.12.2024
Loans	197’098	– 56’773	140’325	140’325

There were no material changes with respect to the quality of the collateral held.

Taken-over collateral


in CHF thousands	2024	2023
Real estate / Properties
As at 1 January	2’620	1’920
Additions / (Disposals) ¹	– 910	700
(Value allowances) / Revaluations	0	0
As at 31 December	1’710	2’620

1Different properties were acquired (previous year: one property) and 3 properties were disposed of (previous year: no property).

Taken-over collateral is disposed of again as soon as possible. It is reported under other assets in the position “Investment property”.

Write-offs are made only on a very restrictive basis. The following table shows to what extent the LLB Group can also legally recover written-off claims in future.

Written-off financial assets in year under report, subject to an enforcement measure	Contractually outstanding amount
in CHF thousands	31.12.2024	31.12.2023
Loans	1’230	0

Types of cover for due from banks

in CHF thousands	31.12.2024	31.12.2023	+/- %
Other collateral	600’094	0
Unsecured	577’627	317’014	82.2
Total	1’177’721	317’014	271.5

Claims due from banks are to be assigned exclusively to credit quality level 1.

4 Operational risk

The LLB Group defines operational risks as being the danger of losses due to the failure of internal procedures, people or IT systems or as a result of an external event. Legal and compliance risks form a part of operational risks. The LLB Group has in place an active and systematic process for managing operational risks. Policies and directives have been formulated for the identification, control and management of this risk category, which are valid for all Group companies. Potential and incurred losses from all organisational units, as well as significant external events, are recorded and evaluated promptly at the parent bank. In addition, the LLB Group collates and analyses risk ratios, e.g. from the areas of due diligence and employee transactions for own account or information and cyber security. Ultimately, the risks are limited by means of internal rules and regulations regarding organisation and control.

5 Strategic risk

For LLB Group, a strategic risk represents the endangering of a projected business result due to the inadequate focusing of the Group on the political, economic, technological or ecological environment. Accordingly, these risks can arise as a result of an inadequate strategic decision-making process, unforeseeable events on the market or a deficient implementation of the selected strategies.

Strategic risks are regularly reviewed by the Group Risk Committee and by the Group Board of Directors.

6 Sustainability risks

Sustainability risks arise from the environmental, social and corporate governance areas and they can adversely affect the ability of a borrower to fulfil his financial obligations. Furthermore, sustainability risks can negatively influence reputation and profitability, and therefore corporate value as well as the value of investments, thus having a negative impact on the financial position and financial performance of the LLB Group. Sustainability risks can affect individual asset classes, companies or even entire sectors or regions. Accordingly, the LLB Group does not regard sustainability risks as a separate risk category. To strengthen the LLB Group’s resilence in relation to ESG risks, Group Financial Risk Controlling ensures that ESG risks are systematically identified, assessed, managed and monitored. At the same time, Group Financial Risk Controlling monitors compilance with all the relevant regulatory requirements.

7 Reputational risk

If risks are not identified, adequately managed and monitored, this can lead not only to substantial financial losses, but also to reputational damage. The LLB Group does not regard reputational risk as an independent risk category, but rather as the danger of additional losses stemming from the categories concerned. To this extent, a reputational risk can cause and also result in losses in all risk categories, such as market or credit risks.

Reputational risks are regularly reviewed by the Group Risk Committee and by the Group Board of Directors.

8 Regulatory disclosures

Regulatory measures

The LLB publishes its regulatory disclosures in a Disclosure Report in accordance with CRR. The following table provides a brief extract of the LLB Group’s key figures.


in CHF millions	31.12.2024	31.12.2023
Total equity	2’235	2’131


in per cent	31.12.2024	31.12.2023
Tier 1 ratio
Regulatory minimum requirement	13.7	13.7
LLB Group strategic target	16.0	16.0
As per reporting date	18.8	19.8

Leverage Ratio (LR)
Regulatory minimum requirement	3.0	3.0
As per reporting date	6.5	6.7

Liquidity Coverage Ratio (LCR)
Regulatory minimum requirement	100.0	100.0
As per reporting date	157.7	164.2

Net Stable Funding Ratio (NSFR)
Regulatory minimum requirement	100.0	100.0
As per reporting date	157.0	161.8

Name	Persistence	Purpose
AWSELBCORS	1 Session	A sticky session of load balancing functionality ensures that the logged-in user can always employ the same server for a session.
PHPSESSID	1 Session	Session cookie for the identification / recognition of a user.
SERVERID	1 Session	Shows on which server the current page was loaded.
ARRAffinitySameSite	1 Session	Is employed to load the picture contents of the website. The data traffic is distributed over several servers to ptimize response times.
wp-wpml_current_language	1 Session	Stores the currently used language.

Cookies on the LLB Website