11 Financial Assets Available for Sale

In CHF million 
  Cost/amortised costNet unrealised gains/lossesFair value (carrying amount)
  31.12.200931.12.200831.12.200931.12.200831.12.200931.12.2008
Debt securities
  46 90539 091230–91747 13538 174
Money market instruments
  31993199
Equity securities
  1 5707204–131 574707
Investment fund units – debt
  1781226–4184118
Investment fund units – equity
  85169983–10934689
Investment fund units – mixed
  26928696278292
Private equity
  28020711–4291203
Hedge funds
  1 2282 7481981301 4262 878
Other
  230023
Total financial assets available for sale
  51 31443 975541–81251 85543 163
 
Securities pledged as collateral (reclassified)
  3273330


Based on detailed assessments with regard to indications of impairment, impairment losses from continuing operations totalling CHF 174 million were recognised in the period under review (2008: CHF 3108 million). The impairment losses in 2009 related to equity instruments were CHF 180 million and gains with regard to debt instruments CHF 6 million (2008: debt instruments CHF 108 million (impairment losses) and equity instruments CHF 3000 million (impairment losses)).

No held-to-maturity securities were transferred to the available-for-sale category and no available-for-sale securities were transferred to the held-to-maturity category in the period under review.

Financial assets available for sale that have been sold under a repurchase agreement or lent under an agreement to return them, and where the transferee has the right to sell or repledge the financial assets given as collateral, were reclassified to financial assets pledged as collateral.

The effect of the reclassification of financial assets available for sale to loans as at 1 July 2008 is shown in note 36.

 
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