v3.22.2.2
Nature and extent of risks arising from financial instruments (Tables)
 12 Months Ended
Oct. 31, 2022
Text Block [Abstract]  
Summary of Credit Exposure Associated with On-and Off-Balance Sheet Financial Instruments
Concentrations of credit risk indicate the relative sensitivity of our performance to developments affecting a particular industry or geographic location. The amounts of credit exposure associated with certain of our
on-
and
off-balance
sheet financial instruments are summarized in the following tables.
 
  
 
As at October 31, 2022
 
                   
(Millions of Canadian dollars,
except percentage amounts)
 
Canada
 
 
%
 
 
United
States
 
 
%
 
 
Europe
 
 
%
 
 
Other
International
 
 
%
 
 
Total
 
On-balance sheet assets other than derivatives
(1)
  
$
  759,037
 
  
 
65%
 
  
$
263,736
 
  
 
23%
 
  
$
87,671
 
  
 
8%
 
  
$
48,991
 
  
 
4%
 
  
$
1,159,435
 
Derivatives before master netting agreements
(2), (3)
  
 
32,434
 
  
 
20
%
 
  
 
35,921
 
  
 
23
%
 
  
 
72,885
 
  
 
46
%
 
  
 
17,439
 
  
 
11
%
 
  
 
158,679
 
   
$
791,471
 
  
 
60%
 
  
$
299,657
 
  
 
23%
 
  
$
160,556
 
  
 
12%
 
  
$
66,430
 
  
 
5%
 
  
$
 
1,318,114
 
Off-balance sheet credit instruments 
(4)
                                                                        
Committed and uncommitted
(5)
  
$
398,719
 
  
 
57%
 
  
$
223,624
 
  
 
32%
 
  
$
52,669
 
  
 
8%
 
  
$
20,857
 
  
 
3%
 
  
$
695,869
 
Other
  
 
79,110
 
  
 
66%
 
  
 
13,847
 
  
 
12%
 
  
 
24,476
 
  
 
20%
 
  
 
2,485
 
  
 
2%
 
  
 
119,918
 
   
$
477,829
 
  
 
59%
 
  
$
 
 
237,471
 
  
 
29%
 
  
$
 
 
77,145
 
  
 
9%
 
  
$
23,342
 
  
 
3%
 
  
$
815,787
 
  
 
As at October 31, 2021
 
(Millions of Canadian dollars,
except percentage amounts)
 
Canada
 
 
%
 
 
United
States
 
 
%
 
 
Europe
 
 
%
 
 
Other
International
 
 
%
 
 
Total
 
On-balance
sheet assets other than derivatives
(1)
   $   701,779       67%     $   213,389       20%     $ 85,271       8%     $ 49,001       5%     $ 1,049,440  
Derivatives before master netting agreements
(2), (3)
     19,927       21%       23,910       25%       45,717       47%       7,111       7%       96,665  
    $ 721,706       63%     $ 237,299       21%     $   130,988       11%     $ 56,112       5%     $   1,146,105  
Off-balance
sheet credit instruments 
(4)
                                                                        
Committed and uncommitted
(5)
   $ 370,479       59%     $ 196,692       32%     $ 46,187       8%     $ 9,335       1%     $ 622,693  
Other
     82,010       66%       14,014       11%       26,920       22%       1,383       1%       124,327  
    $ 452,489       61%     $ 210,706       28%     $ 73,107       10%     $ 10,718       1%     $ 747,020  
 
(1)   Includes Assets purchased under reverse repurchase agreements and securities borrowed, Loans and Customers’ liability under acceptances. The largest concentrations in Canada are Ontario at 56% (October 31, 2021 – 56%), the Prairies at 15% (October 31, 2021 – 16%), British Columbia and the territories at 15% (October 31, 2021 – 14%) and Quebec at 10% (October 31, 2021 – 10%). No industry accounts for more than 20% (October 31, 2021 – 20%) of total on-balance sheet credit instruments
with the exception of Banking, which accounted for 26% (October 31, 2021 – 24%), and Government, which accounted for 32% (October 31, 2021 – 37%). 
The classification of our sectors aligns with our view of credit risk by industry.
(2)   A further breakdown of our derivative exposures by risk rating and counterparty type is provided in Note 9.
(3)   Excludes valuation adjustments determined on a pooled basis.
(4)   Balances presented are contractual amounts representing our maximum exposure to credit risk.
(5)   Represents our maximum exposure to credit risk. Retail and wholesale commitments respectively comprise 45% and 55% of our total commitments (October 31, 2021 – 45% and 55%). The largest concentrations in the wholesale portfolio relate to Financial services at 15% (October 31, 2021 – 13%),
Real estate and related
 at 12% (October 31, 2021 – 10%),
Utilities
at 11% (October 31, 2021 – 10%), Other services at 7% (October 31, 2021 – 8%), and Oil and gas at 6% (October 31, 2021 – 6%).
The classification of our sectors aligns with our view of credit risk by industry.