Securities |
Carrying value of securities
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(1) |
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(Millions of Canadian dollars) |
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With no specific maturity |
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Debt issued or guaranteed by: |
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Canadian government |
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U.S. federal, state, municipal and agencies |
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Other OECD government |
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Mortgage-backed securities |
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Asset-backed securities |
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Corporate debt and other debt |
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Bankers’ acceptances |
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Equities |
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Fair value through other comprehensive income (2) |
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Debt issued or guaranteed by: |
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Canadian government |
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Federal |
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Amortized cost |
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Fair value |
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Provincial and municipal |
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Amortized cost |
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Fair value |
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U.S. federal, state, municipal and agencies |
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Amortized cost |
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Fair value |
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Other OECD government |
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Amortized cost |
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Fair value |
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Mortgage-backed securities |
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Amortized cost |
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Fair value |
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Asset-backed securities |
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Amortized cost |
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Fair value |
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Corporate debt and other debt |
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Amortized cost |
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Fair value |
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Equities |
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Cost |
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Amortized cost |
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Fair value |
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Debt issued or guaranteed by: |
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Canadian government |
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U.S. federal, state, municipal and agencies |
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Other OECD government |
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Asset-backed securities |
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Corporate debt and other debt |
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Amortized cost, net of allowance |
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Fair value |
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Total carrying value of securities |
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As at October 31, 2023 |
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Term to maturity (1) |
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(Millions of Canadian dollars) |
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Within 3 months |
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3 months to 1 year |
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1 year to 5 years |
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5 years to 10 years |
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Over 10 years |
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With no specific maturity |
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Total |
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Debt issued or guaranteed by: |
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Canadian government |
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$ |
9,867 |
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$ |
17,244 |
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$ |
8,687 |
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$ |
2,932 |
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$ |
6,915 |
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$ |
– |
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$ |
45,645 |
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U.S. federal, state, municipal and agencies |
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15,507 |
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8,136 |
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15,864 |
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4,375 |
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8,806 |
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– |
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52,688 |
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Other OECD government |
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566 |
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1,117 |
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815 |
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1,040 |
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1,094 |
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– |
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4,632 |
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Mortgage-backed securities |
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– |
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– |
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– |
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– |
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2 |
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– |
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2 |
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Asset-backed securities |
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452 |
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151 |
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234 |
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307 |
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101 |
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– |
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1,245 |
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Corporate debt and other debt |
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Bankers’ acceptances |
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143 |
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– |
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– |
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– |
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– |
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– |
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143 |
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1,207 |
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2,219 |
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6,681 |
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3,656 |
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8,709 |
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– |
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22,472 |
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Equities |
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63,324 |
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63,324 |
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27,742 |
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28,867 |
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32,281 |
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12,310 |
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25,627 |
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63,324 |
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190,151 |
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Fair value through other comprehensive income (2) |
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Debt issued or guaranteed by: |
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Canadian government |
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Federal |
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Amortized cost |
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|
2,479 |
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|
1,247 |
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|
1,726 |
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|
640 |
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|
517 |
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– |
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|
6,609 |
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Fair value |
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|
2,479 |
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|
1,242 |
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|
1,707 |
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|
515 |
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|
316 |
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– |
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6,259 |
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4.5% |
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3.2% |
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2.6% |
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|
1.2% |
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3.4% |
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– |
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3.4% |
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Provincial and municipal |
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|
|
|
|
|
|
Amortized cost |
|
|
469 |
|
|
|
8 |
|
|
|
1,159 |
|
|
|
52 |
|
|
|
1,708 |
|
|
|
– |
|
|
|
3,396 |
|
Fair value |
|
|
469 |
|
|
|
8 |
|
|
|
1,158 |
|
|
|
52 |
|
|
|
1,061 |
|
|
|
– |
|
|
|
2,748 |
|
|
|
|
4.9% |
|
|
|
3.7% |
|
|
|
2.8% |
|
|
|
4.5% |
|
|
|
4.4% |
|
|
|
– |
|
|
|
3.8% |
|
U.S. federal, state, municipal and agencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized cost |
|
|
846 |
|
|
|
8,595 |
|
|
|
33,044 |
|
|
|
16,355 |
|
|
|
16,486 |
|
|
|
– |
|
|
|
75,326 |
|
Fair value |
|
|
856 |
|
|
|
8,572 |
|
|
|
33,050 |
|
|
|
16,193 |
|
|
|
14,624 |
|
|
|
– |
|
|
|
73,295 |
|
|
|
|
7.4% |
|
|
|
2.1% |
|
|
|
2.7% |
|
|
|
4.0% |
|
|
|
3.6% |
|
|
|
– |
|
|
|
3.2% |
|
Other OECD government |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized cost |
|
|
160 |
|
|
|
1,009 |
|
|
|
5,030 |
|
|
|
1 |
|
|
|
– |
|
|
|
– |
|
|
|
6,200 |
|
Fair value |
|
|
160 |
|
|
|
1,009 |
|
|
|
5,022 |
|
|
|
1 |
|
|
|
– |
|
|
|
– |
|
|
|
6,192 |
|
|
|
|
6.3% |
|
|
|
4.0% |
|
|
|
3.0% |
|
|
|
4.6% |
|
|
|
– |
|
|
|
– |
|
|
|
3.3% |
|
Mortgage-backed securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized cost |
|
|
– |
|
|
|
– |
|
|
|
32 |
|
|
|
28 |
|
|
|
2,702 |
|
|
|
– |
|
|
|
2,762 |
|
Fair value |
|
|
– |
|
|
|
– |
|
|
|
31 |
|
|
|
25 |
|
|
|
2,645 |
|
|
|
– |
|
|
|
2,701 |
|
|
|
|
– |
|
|
|
– |
|
|
|
7.5% |
|
|
|
6.7% |
|
|
|
6.8% |
|
|
|
– |
|
|
|
6.8% |
|
Asset-backed securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized cost |
|
|
– |
|
|
|
– |
|
|
|
16 |
|
|
|
7,542 |
|
|
|
1,194 |
|
|
|
– |
|
|
|
8,752 |
|
Fair value |
|
|
– |
|
|
|
– |
|
|
|
17 |
|
|
|
7,503 |
|
|
|
1,186 |
|
|
|
– |
|
|
|
8,706 |
|
|
|
|
– |
|
|
|
– |
|
|
|
6.4% |
|
|
|
6.9% |
|
|
|
7.0% |
|
|
|
– |
|
|
|
6.9% |
|
Corporate debt and other debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized cost |
|
|
4,928 |
|
|
|
1,759 |
|
|
|
18,798 |
|
|
|
2,248 |
|
|
|
41 |
|
|
|
– |
|
|
|
27,774 |
|
Fair value |
|
|
4,928 |
|
|
|
1,755 |
|
|
|
18,761 |
|
|
|
2,243 |
|
|
|
36 |
|
|
|
– |
|
|
|
27,723 |
|
|
|
|
3.9% |
|
|
|
4.2% |
|
|
|
3.9% |
|
|
|
5.4% |
|
|
|
4.7% |
|
|
|
– |
|
|
|
4.1% |
|
Equities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
493 |
|
|
|
493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
842 |
|
|
|
842 |
|
Amortized cost |
|
|
8,882 |
|
|
|
12,618 |
|
|
|
59,805 |
|
|
|
26,866 |
|
|
|
22,648 |
|
|
|
493 |
|
|
|
131,312 |
|
Fair value |
|
|
8,892 |
|
|
|
12,586 |
|
|
|
59,746 |
|
|
|
26,532 |
|
|
|
19,868 |
|
|
|
842 |
|
|
|
128,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt issued or guaranteed by: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canadian government |
|
|
997 |
|
|
|
1,931 |
|
|
|
17,448 |
|
|
|
6,468 |
|
|
|
– |
|
|
|
– |
|
|
|
26,844 |
|
|
|
|
2.8% |
|
|
|
3.0% |
|
|
|
2.1% |
|
|
|
2.0% |
|
|
|
– |
|
|
|
– |
|
|
|
2.2% |
|
U.S. federal, state, municipal and agencies |
|
|
424 |
|
|
|
1,427 |
|
|
|
14,536 |
|
|
|
5,156 |
|
|
|
23,025 |
|
|
|
– |
|
|
|
44,568 |
|
|
|
|
5.0% |
|
|
|
4.1% |
|
|
|
3.3% |
|
|
|
2.9% |
|
|
|
2.5% |
|
|
|
– |
|
|
|
2.9% |
|
Other OECD government |
|
|
375 |
|
|
|
723 |
|
|
|
4,362 |
|
|
|
66 |
|
|
|
– |
|
|
|
– |
|
|
|
5,526 |
|
|
|
|
2.0% |
|
|
|
0.8% |
|
|
|
2.9% |
|
|
|
1.1% |
|
|
|
– |
|
|
|
– |
|
|
|
2.5% |
|
Asset-backed securities |
|
|
– |
|
|
|
– |
|
|
|
424 |
|
|
|
– |
|
|
|
1 |
|
|
|
– |
|
|
|
425 |
|
|
|
|
– |
|
|
|
– |
|
|
|
4.9% |
|
|
|
– |
|
|
|
1.4% |
|
|
|
– |
|
|
|
4.9% |
|
Corporate debt and other debt |
|
|
838 |
|
|
|
1,443 |
|
|
|
11,256 |
|
|
|
190 |
|
|
|
23 |
|
|
|
– |
|
|
|
13,750 |
|
|
|
|
2.3% |
|
|
|
2.9% |
|
|
|
3.4% |
|
|
|
3.1% |
|
|
|
5.6% |
|
|
|
– |
|
|
|
3.3% |
|
Amortized cost, net of allowance |
|
|
2,634 |
|
|
|
5,524 |
|
|
|
48,026 |
|
|
|
11,880 |
|
|
|
23,049 |
|
|
|
– |
|
|
|
91,113 |
|
Fair value |
|
|
2,627 |
|
|
|
5,447 |
|
|
|
46,258 |
|
|
|
10,276 |
|
|
|
19,059 |
|
|
|
– |
|
|
|
83,667 |
|
Total carrying value of securities |
|
$ |
39,268 |
|
|
$ |
46,977 |
|
|
$ |
140,053 |
|
|
$ |
50,722 |
|
|
$ |
68,544 |
|
|
$ |
64,166 |
|
|
$ |
409,730 |
|
(1) |
|
Actual maturities may differ from contractual maturities shown above as borrowers may have the right to extend or prepay obligations with or without penalties. |
(2) |
|
Trading securities and FVOCI securities are recorded at fair value. Amortized cost securities, included in Investment securities, are recorded at amortized cost and presented net of allowance for credit losses. |
(3) |
|
Primarily composed of corporate debt, supra-national debt, and commercial paper. |
(4) |
|
The weighted average yield is derived using the contractual interest rate and the carrying value at the end of the year for the respective securities. |
(5) |
|
Certain equity securities that are not purposes are designated as FVOCI. | Unrealized gains and losses on securities at FVOCI (1), (2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at |
|
|
|
(3) |
|
|
|
|
|
October 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
(Millions of Canadian dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost/ Amortized cost |
|
|
Gross unrealized gains |
|
|
Gross unrealized losses |
|
|
Fair value |
|
Debt issued or guaranteed by: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canadian government |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,609 |
|
|
$ |
1 |
|
|
$ |
(351 |
) |
|
$ |
6,259 |
|
Provincial and municipal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,396 |
|
|
|
2 |
|
|
|
(650 |
) |
|
|
2,748 |
|
U.S. federal, state, municipal and agencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75,326 |
|
|
|
343 |
|
|
|
(2,374 |
) |
|
|
73,295 |
|
Other OECD government |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,200 |
|
|
|
1 |
|
|
|
(9 |
) |
|
|
6,192 |
|
Mortgage-backed securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,762 |
|
|
|
– |
|
|
|
(61 |
) |
|
|
2,701 |
|
Asset-backed securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,752 |
|
|
|
5 |
|
|
|
(51 |
) |
|
|
8,706 |
|
Corporate debt and other debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,774 |
|
|
|
44 |
|
|
|
(95 |
) |
|
|
27,723 |
|
Equities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
493 |
|
|
|
357 |
|
|
|
(8 |
) |
|
|
842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
131,312 |
|
|
$ |
753 |
|
|
$ |
(3,599 |
) |
|
$ |
128,466 |
|
(1) |
|
Excludes $100,258 million of securities as at October 31, 2024 that are carried at amortized cost, net of allowance for credit losses (October 31, 2023 – $91,113 million). |
(2) |
|
Gross unrealized gains and losses includes $(35) million of allowance for credit losses on debt securities at FVOCI as at October 31, 2024 (October 31, 2023 – $(33) million) recognized in income and Other components of equity. |
(3) |
|
These amounts reflect certain reclassifications made upon the adoption of IFRS 17 as at November 1, 2023 with no restatement of comparative information. Refer to Note 2 for further details. | Allowance for credit losses on investment securities The following tables reconcile the opening and closing allowance for debt securities at FVOCI and amortized cost by stage. Reconciling items include the following:
• |
|
Transfers between stages, which are presumed to occur before any corresponding remeasurement of the allowance. |
• |
|
Purchases, which reflect the allowance related to assets newly recognized during the period, including those assets that were derecognized following a modification of terms. |
• |
|
Sales and maturities, which reflect the allowance related to assets derecognized during the period without a credit loss being incurred, including those assets that were derecognized following a modification of terms. |
• |
|
Changes in risk, parameters and exposures, which comprise the impact of changes in model inputs or assumptions, including changes in forward-looking macroeconomic conditions; partial repayments; changes in the measurement following a transfer between stages; and unwinding of the time value discount due to the passage of time. | Allowance for credit losses – securities at FVOCI (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing |
|
|
|
|
|
Impaired |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Millions of Canadian dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stage 1 |
|
|
Stage 2 |
|
|
|
|
|
Stage 3 (2) |
|
|
Total |
|
Balance at beginning of period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3 |
|
|
$ |
1 |
|
|
|
|
|
|
$ |
(23 |
) |
|
$ |
(19 |
) |
Provision for credit losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transfers to stage 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
|
|
|
(1 |
) |
|
|
|
|
|
|
– |
|
|
|
– |
|
Transfers to stage 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
– |
|
Transfers to stage 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
– |
|
Purchases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7 |
|
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
7 |
|
Sales and maturities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2 |
) |
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
(2 |
) |
Changes in risk, parameters and exposures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5 |
) |
|
|
– |
|
|
|
|
|
|
|
(17 |
) |
|
|
(22 |
) |
Exchange rate and other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
3 |
|
|
|
3 |
|
Balance at end of period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4 |
|
|
$ |
– |
|
|
|
|
|
|
$ |
(37 |
) |
|
$ |
(33 |
) |
(1) |
|
Expected credit losses on debt securities at FVOCI are not separately recognized on the Consolidated Balance Sheets as the related securities are recorded at fair value. The cumulative amount of credit losses recognized in income is presented in Other components of equity. |
(2) |
|
Reflects changes in the allowance for purchased credit impaired securities. | Allowance for credit losses – securities at amortized cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the year ended |
|
|
|
|
|
|
|
|
|
October 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing |
|
|
|
|
|
Impaired |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Millions of Canadian dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stage 1 |
|
|
Stage 2 |
|
|
|
|
|
Stage 3 |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8 |
|
|
$ |
14 |
|
|
|
|
|
|
$ |
– |
|
|
$ |
22 |
|
Provision for credit losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transfers to stage 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
– |
|
Transfers to stage 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
– |
|
Transfers to stage 3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
– |
|
Purchases |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10 |
|
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
10 |
|
Sales and maturities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1 |
) |
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
(1 |
) |
Changes in risk, parameters and exposures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9 |
) |
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
(9 |
) |
Exchange rate and other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
1 |
|
|
|
|
|
|
|
– |
|
|
|
1 |
|
Balance at end of period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8 |
|
|
$ |
15 |
|
|
|
|
|
|
$ |
– |
|
|
$ |
23 |
| Credit risk exposure by internal risk rating The following table presents the fair value of debt securities at FVOCI and gross carrying amount of securities at amortized cost. Risk ratings are based on internal ratings used in the measurement of expected credit losses, as at the reporting date, as outlined in the internal ratings maps in the Credit risk section of Management’s Discussion and Analysis.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at |
|
|
|
|
|
|
|
|
|
October 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing |
|
|
|
|
|
Impaired |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Millions of Canadian dollars) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stage 1 |
|
|
Stage 2 |
|
|
|
|
|
Stage 3 (1) |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment grade |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
126,732 |
|
|
$ |
1 |
|
|
|
|
|
|
$ |
– |
|
|
$ |
126,733 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
742 |
|
|
|
– |
|
|
|
|
|
|
|
– |
|
|
|
742 |
|
Impaired |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
– |
|
|
|
– |
|
|
|
|
|
|
|
149 |
|
|
|
149 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
127,474 |
|
|
|
1 |
|
|
|
|
|
|
|
149 |
|
|
|
127,624 |
|
Items not subject to impairment (2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
128,466 |
|
Securities at amortized cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment grade |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
89,947 |
|
|
$ |
– |
|
|
|
|
|
|
$ |
– |
|
|
$ |
89,947 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
990 |
|
|
|
199 |
|
|
|
|
|
|
|
– |
|
|
|
1,189 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90,937 |
|
|
|
199 |
|
|
|
|
|
|
|
– |
|
|
|
91,136 |
|
Allowance for credit losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
|
|
|
15 |
|
|
|
|
|
|
|
– |
|
|
|
23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
90,929 |
|
|
$ |
184 |
|
|
|
|
|
|
$ |
– |
|
|
$ |
91,113 |
|
(1) |
|
Reflects $143 million of purchased credit impaired securities (October 31, 2023 – $149 million). |
(2) |
|
Investment securities at FVOCI not subject to impairment represent equity securities designated as FVOCI. |
|