High levels of capital to absorb losses as a going concern and in a resolution scenario. Stable and low-risk earnings from leading global wealth management franchise and Swiss retail, private, and corporate banking. Demonstrated sound asset quality and a highly collateralized lending book. Market and operational risks from large markets-related businesses represent a high share of revenues. Material exposure to leveraged finance and some areas of structured products, which could be particularly hit by the pandemic. Activities are less diverse by geography and business line than higher rated peers. The stable outlooks reflect our view that the group's strong franchise in global wealth management and domestic corporate and retail banking will continue to support earnings, despite adverse global economic and
