commonsErrorContainer

Navigation

Warning:
more information Close
 

Login/account box

Meta navigation

Global navigation

file

Swisscom carries out sensitivity analyses in the areas of currency risks and interest rate risks. We anticipate reliable expectation values in the other risk areas.

  

Currency risksThe following sensitivity analysis shows the effects on the income statement if the EUR/CHF and USD/CHF exchange rates change in accordance with their implicit volatility over the next 12 months. This analysis requires all other variables, in particular interest levels, to remain constant.

In CHF millions

31.12.2012

31.12.2011

 
Effects on balance sheet items affecting net income

EUR volatility 4,85% (previous year 9,86%) 

45

123

USD volatility 8,94% (previous year 15,56%) 

8

8

 

Hedging transactions for balance sheet items

EUR volatility 4,85% (previous year 9,86%) 

(37)

(75)

USD volatility 8,94% (previous year 15,56%) 

(3)

(6)

 

Projected cash flows

EUR volatility 4,85% (previous year 9,86%) 

6

64

USD volatility 8,94% (previous year 15,56%) 

28

54

 

Hedging transactions for projected cash flows

EUR volatility 4,85% (previous year 9,86%) 

(4)

(32)

USD volatility USD 8,94% (previous year 15,56%) 

(15)

(25)

 

The volatility of the balance sheet items and the projected cash flows is offset in part by the volatility of the corresponding hedging transactions.

 

 

Interest rate risks

The following sensitivity analysis shows the effects on the income statement and equity of a change of 100 basis points in CHF interest rates.

 

 

 Income statement

 

Equity

 

In CHF millions

 

Increase of
100 basis
points

 

Decrease of
100 basis
points

 

Increase of
100 basis
points

 

Decrease of
100 basis
points

 

31st December 2012

 

 

 

 

 

 

 

 

Variable financing

 

(14)

 

14

 

 

Interest rate swaps

 

3

 

(3)

 

12

 

(2)

Sensibilità cash flow, netto

 

(11)

 

11

 

12

 

(2)

 

31st December 2011 

 

 

 

 

 

 

 

 

Variable financing

 

(22)

 

22

 

 

Interest rate swaps

 

3

 

(3)

 

16

 

(8)

Sensibilità cash flow, netto

 

(19)

 

19

 

16

 

(8)