v3.24.3
Loans and allowance for credit losses (Tables)
 12 Months Ended
Oct. 31, 2024
Text Block [Abstract]  
Loans by geography and portfolio net of allowance
Loans by geography and portfolio net of allowance
 
    
As at October 31, 2024
  
(Millions of Canadian dollars)
  
Canada
    
United
States
    
Other
International
    
Total
    
Allowance for
loan losses 
(1)
    
Total net
of allowance
  
Retail
(2)
            
Residential mortgages
  
$
441,191
 
  
$
33,092
 
  
$
3,261
 
  
$
477,544
 
  
$
(572
)
  
$
476,972
 
Personal
  
 
86,977
 
  
 
18,148
 
  
 
3,213
 
  
 
108,338
 
  
 
(1,389
)
  
 
106,949
 
Credit cards
(3)
  
 
24,619
 
  
 
653
 
  
 
293
 
  
 
25,565
 
  
 
(1,164
)
  
 
24,401
 
Small business
(4)
  
 
15,531
 
  
 
–
 
  
 
–
 
  
 
15,531
 
  
 
(258
)
  
 
15,273
 
Wholesale
(2), (5)
  
 
189,378
 
  
 
119,231
 
  
 
51,830
 
  
 
360,439
 
  
 
(2,654
)
  
 
357,785
 
Total loans
  
$
757,696
 
  
$
171,124
 
  
$
58,597
 
  
$
987,417
 
  
$
(6,037
)
  
$
981,380
 
Undrawn loan commitments – Retail
  
 
300,071
 
  
 
5,099
 
  
 
4,100
 
  
 
309,270
 
  
 
(172
)
  
Undrawn loan commitments – Wholesale
  
 
180,687
 
  
 
264,309
 
  
 
88,787
 
  
 
533,783
 
  
 
(139
)
  
 
 
 
           
     As at October 31, 2023  
(Millions of Canadian dollars)
   Canada     United
States		     Other
International		     Total     Allowance for
loan losses
(1)
     Total net of
allowance		  
Retail
(2)
            
Residential mortgages
   $  397,605     $ 33,683     $ 3,213     $ 434,501     $ (481 )    $ 434,020  
Personal
     79,705       15,751       3,278       98,734       (1,145 )      97,589  
Credit cards
(3)
     22,140       624       271       23,035       (1,013 )      22,022  
Small business
(4)
     13,681       –       –       13,681       (180 )      13,501  
Wholesale
(2), (5)
     121,762       119,067       46,997       287,826       (2,185 )      285,641  
Total loans
   $ 634,893     $  169,125     $  53,759     $  857,777     $  (5,004 )    $  852,773  
Undrawn loan commitments – Retail
     277,863       5,054       3,173       286,090       (152 )   
Undrawn loan commitments – Wholesale
     128,967       247,881       84,633       461,481       (136 )   
 
 
 
 
(1)   Excludes allowance for loans measured at FVOCI of $4 million (October 31, 2023 – $6 million).
(2)   Geographic information is based on residence of the borrower.
(3)   The credit cards business is managed as a single portfolio and includes both consumer and business cards.
(4)   Includes small business exposure managed on a pooled basis.
(5)   Includes small business exposure managed on an individual client basis.
Loans maturity and rate sensitivity
Loans maturity and rate sensitivity
 
    
As at October 31, 2024
  
   
Maturity term
(1)
          
Rate sensitivity
        
(Millions of Canadian dollars)
  
Under
1 year 
(2)
    
1 to 5
years
    
Over 5
years
    
Total
    
Floating
    
Fixed
Rate
    
Non-rate-

sensitive
    
Total
  
Retail
  
$
342,552
 
  
$
240,995
 
  
$
43,431
 
  
$
626,978
 
  
$
211,027
 
  
$
407,455
 
  
$
8,496
 
  
$
626,978
 
Wholesale
  
 
302,024
 
  
 
44,977
 
  
 
13,438
 
  
 
360,439
 
  
 
80,385
 
  
 
277,599
 
  
 
2,455
 
  
 
360,439
 
Total loans
  
$
644,576
 
  
$
285,972
 
  
$
56,869
 
  
$
987,417
 
  
$
291,412
 
  
$
685,054
 
  
$
10,951
 
  
$
987,417
 
Allowance for loan losses
  
 
 
 
  
 
 
 
  
 
 
 
  
 
(6,037
)
  
 
 
 
  
 
 
 
  
 
 
 
  
 
(6,037
)
Total loans net of allowance for loan
losses
  
$
644,576
 
 
$
 
285,972
 
 
$
 
50,832
 
 
$
981,380
 
 
$
 
291,412
 
 
$
 
685,054
 
 
$
 
4,914
 
  
$
981,380
 
       
    
As at October 31, 2023
  
   
Maturity term
(1)
          
Rate sensitivity
        
(Millions of Canadian dollars)
  
Under
1 year
(2)
    
1 to 5
years
    
Over 5
years
    
Total
    
Floating
    
Fixed
Rate
    
Non-rate-

sensitive
    
Total
  
Retail
   $ 276,720     $ 249,210     $ 44,021     $ 569,951     $ 183,604     $ 378,656     $ 7,691     $ 569,951  
Wholesale
     236,126       39,358       12,342       287,826       53,655       232,024       2,147       287,826  
Total loans
   $  512,846     $  288,568     $  56,363     $  857,777     $  237,259     $  610,680     $  9,838     $  857,777  
Allowance for loan losses
  
 
 
 
  
 
 
 
  
 
 
 
     (5,004 )   
 
 
 
  
 
 
 
  
 
 
 
     (5,004 ) 
Total loans net of allowance for loan losses
  
 
 
 
  
 
 
 
  
 
 
 
   $ 852,773    
 
 
 
  
 
 
 
  
 
 
 
   $ 852,773  
 
(1)   Generally, based on the earlier of contractual repricing or maturity date.
(2)   Includes variable rate loans that can be repriced at the clients’ discretion without penalty.
Disclosure of Allowance for Credit Losses
 
Allowance for credit losses
 
     For the year ended  
   
October 31, 2024
           October 31, 2023  
(Millions of Canadian dollars)  
Balance at
beginning
of period
    
Provision
for credit
losses
    
Net
write-offs 
(1)		    
Exchange
rate and
other
    
Balance
at end
of period
            Balance at
beginning
of period		     Provision
for credit
losses		     Net
write-offs (1)
     Exchange
rate and
other		     Balance
at end
of period		  
Retail
                      
Residential mortgages
  
$
481
 
  
$
114
 
  
$
(10
) 
  
$
(13
) 
  
$
572
 
     $ 432     $ 74     $ (17 )    $ (8 )    $ 481  
Personal
  
 
1,228
 
  
 
877
 
  
 
(616
) 
  
 
(7
) 
  
 
1,482
 
       1,043       593       (404 )      (4 )      1,228  
Credit cards
  
 
1,069
 
  
 
831
 
  
 
(669
) 
  
 
2
 
  
 
1,233
 
       893       636       (460 )      –       1,069  
Small business
  
 
194
 
  
 
178
 
  
 
(84
) 
  
 
(16
) 
  
 
272
 
       194       43       (39 )      (4 )      194  
Wholesale
  
 
2,326
 
  
 
1,297
 
  
 
(700
) 
  
 
(130
) 
  
 
2,793
 
       1,574       1,145       (293 )      (100 )      2,326  
Customers’ liability under
acceptances
  
 
50
 
  
 
(50
) 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
 
 
     45       5       –       –       50  
 
  
$
5,348
 
  
$
 3,247
 
  
$
 (2,079
) 
  
$
(164
) 
  
$
 6,352
 
  
 
 
 
   $ 4,181     $ 2,496     $ (1,213 )    $ (116 )    $  5,348  
Presented as:
                      
Allowance for loan losses
  
$
5,004
 
        
$
6,037
 
     $ 3,753           $ 5,004  
Other liabilities – Provisions
  
 
   288
 
  
 
      
 
  
 
      
 
  
 
      
 
  
 
311
 
       378    
 
      
 
  
 
      
 
  
 
      
 
        288  
Customers’ liability under acceptances
  
 
50
 
        
 
–
 
       45             50  
Other components of equity
  
 
6
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
4
 
  
 
 
 
     5    
 
 
 
  
 
 
 
  
 
 
 
     6  
 
(1)   Loans
written-off
are generally subject to continued collection efforts for a period of time following
write-off.
The contractual amount outstanding on loans
written-off
during the year ended October 31, 2024 that are no longer subject to enforcement activity was $359
 million
 
(October 31, 2023 – $139 million).
Summary of Allowance for Credit Losses by Stage, for Each Major Product Category
Allowance for credit losses – Retail and wholesale loans
 
     For the year ended  
   
October 31, 2024
           October 31, 2023  
   
Performing
          
Impaired
                 Performing           Impaired        
(Millions of Canadian dollars)  
Stage 1
    
Stage 2
           
Stage 3
    
Total
            Stage 1     Stage 2            Stage 3     Total  
Residential mortgages
                      
Balance at beginning of period
  
$
223
 
  
$
90
 
    
$
168
 
  
$
481
 
     $ 235     $ 65       $ 132     $ 432  
Provision for credit losses
                      
Transfers to stage 1
  
 
99
 
  
 
(97
) 
    
 
(2
) 
  
 
–
 
       95       (95 )        –       –  
Transfers to stage 2
  
 
(23
) 
  
 
36
 
    
 
(13
) 
  
 
–
 
       (26 )      38         (12 )      –  
Transfers to stage 3
  
 
(5
) 
  
 
(42
) 
    
 
47
 
  
 
–
 
       (2 )      (13 )        15       –  
Originations
  
 
94
 
  
 
–
 
    
 
–
 
  
 
94
 
       89       –         –       89  
Maturities
  
 
(19
) 
  
 
(17
) 
    
 
–
 
  
 
(36
) 
       (17 )      (9 )        –       (26 ) 
Changes in risk, parameters and exposures
  
 
(155
) 
  
 
157
 
    
 
54
 
  
 
56
 
       (152 )      103         60       11  
Write-offs
  
 
–
 
  
 
–
 
    
 
(23
) 
  
 
(23
) 
       –       –         (30 )      (30 ) 
Recoveries
  
 
–
 
  
 
–
 
    
 
13
 
  
 
13
 
       –       –         13       13  
Exchange rate and other
  
 
1
 
  
 
(1
) 
          
 
(13
) 
  
 
(13
) 
             1       1               (10 )      (8 ) 
Balance at end of period
  
$
215
 
  
$
126
 
          
$
231
 
  
$
572
 
           $ 223     $ 90             $ 168     $ 481  
Personal
                      
Balance at beginning of period
  
$
280
 
  
$
793
 
    
$
155
 
  
$
1,228
 
     $ 285     $ 661       $ 97     $ 1,043  
Provision for credit losses
                      
Transfers to stage 1
  
 
537
 
  
 
(537
) 
    
 
–
 
  
 
–
 
       696       (695 )        (1 )      –  
Transfers to stage 2
  
 
(75
) 
  
 
78
 
    
 
(3
) 
  
 
–
 
       (88 )      90         (2 )      –  
Transfers to stage 3
  
 
(3
) 
  
 
(130
) 
    
 
133
 
  
 
–
 
       (1 )      (57 )        58       –  
Originations
  
 
116
 
  
 
–
 
    
 
–
 
  
 
116
 
       103       –         –       103  
Maturities
  
 
(51
) 
  
 
(186
) 
    
 
–
 
  
 
(237
) 
       (45 )      (112 )        –       (157 ) 
Changes in risk, parameters and exposures
  
 
(499
) 
  
 
947
 
    
 
550
 
  
 
998
 
       (671 )      906         412       647  
Write-offs
  
 
–
 
  
 
–
 
    
 
(745
) 
  
 
(745
) 
       –       –         (518 )      (518 ) 
Recoveries
  
 
–
 
  
 
–
 
    
 
129
 
  
 
129
 
       –       –         114       114  
Exchange rate and other
  
 
–
 
  
 
1
 
          
 
(8
) 
  
 
(7
) 
             1       –               (5 )      (4 ) 
Balance at end of period
  
$
305
 
  
$
966
 
          
$
211
 
  
$
1,482
 
           $ 280     $ 793             $ 155     $ 1,228  
Credit cards
                      
Balance at beginning of period
  
$
203
 
  
$
866
 
    
$
–
 
  
$
1,069
 
     $ 177     $ 716       $ –     $ 893  
Provision for credit losses
                      
Transfers to stage 1
  
 
559
 
  
 
(559
) 
    
 
–
 
  
 
–
 
       539       (539 )        –       –  
Transfers to stage 2
  
 
(111
) 
  
 
111
 
    
 
–
 
  
 
–
 
       (101 )      101         –       –  
Transfers to stage 3
  
 
(2
) 
  
 
(483
) 
    
 
485
 
  
 
–
 
       (2 )      (394 )        396       –  
Originations
  
 
25
 
  
 
–
 
    
 
–
 
  
 
25
 
       13       –         –       13  
Maturities
  
 
(5
) 
  
 
(48
) 
    
 
–
 
  
 
(53
) 
       (6 )      (33 )        –       (39 ) 
Changes in risk, parameters and exposures
  
 
(465
) 
  
 
1,139
 
    
 
185
 
  
 
859
 
       (417 )      1,015         64       662  
Write-offs
  
 
–
 
  
 
–
 
    
 
(892
) 
  
 
(892
) 
       –       –         (650 )      (650 ) 
Recoveries
  
 
–
 
  
 
–
 
    
 
223
 
  
 
223
 
       –       –         190       190  
Exchange rate and other
  
 
3
 
  
 
–
 
          
 
(1
) 
  
 
2
 
             –       –               –       –  
Balance at end of period
  
$
207
 
  
$
1,026
 
          
$
–
 
  
$
1,233
 
           $ 203     $ 866             $ –     $ 1,069  
Small business
                      
Balance at beginning of period
  
$
70
 
  
$
66
 
    
$
58
 
  
$
194
 
     $ 73     $ 73       $ 48     $ 194  
Provision for credit losses
                      
Transfers to stage 1
  
 
35
 
  
 
(35
) 
    
 
–
 
  
 
–
 
       39       (39 )        –       –  
Transfers to stage 2
  
 
(20
) 
  
 
20
 
    
 
–
 
  
 
–
 
       (14 )      14         –       –  
Transfers to stage 3
  
 
(1
) 
  
 
(10
) 
    
 
11
 
  
 
–
 
       (1 )      (10 )        11       –  
Originations
  
 
43
 
  
 
–
 
    
 
–
 
  
 
43
 
       36       –         –       36  
Maturities
  
 
(17
) 
  
 
(21
) 
    
 
–
 
  
 
(38
) 
       (18 )      (21 )        –       (39 ) 
Changes in risk, parameters and exposures
  
 
(31
) 
  
 
65
 
    
 
139
 
  
 
173
 
       (48 )      44         50       46  
Write-offs
  
 
–
 
  
 
–
 
    
 
(98
) 
  
 
(98
) 
       –       –         (50 )      (50 ) 
Recoveries
  
 
–
 
  
 
–
 
    
 
14
 
  
 
14
 
       –       –         11       11  
Exchange rate and other
  
 
1
 
  
 
1
 
          
 
(18
) 
  
 
(16
) 
             3       5               (12 )      (4 ) 
Balance at end of period
  
$
80
 
  
$
86
 
          
$
106
 
  
$
272
 
           $ 70     $ 66             $ 58     $ 194  
Wholesale
                      
Balance at beginning of period
  
$
774
 
  
$
785
 
    
$
767
 
  
$
2,326
 
     $ 597     $ 585       $ 392     $ 1,574  
Provision for credit losses
                      
Transfers to stage 1
  
 
284
 
  
 
(282
) 
    
 
(2
) 
  
 
–
 
       216       (215 )        (1 )      –  
Transfers to stage 2
  
 
(152
) 
  
 
159
 
    
 
(7
) 
  
 
–
 
       (87 )      89         (2 )      –  
Transfers to stage 3
  
 
(9
) 
  
 
(77
) 
    
 
86
 
  
 
–
 
       (10 )      (60 )        70       –  
Originations
  
 
737
 
  
 
–
 
    
 
–
 
  
 
737
 
       651       –         –       651  
Maturities
  
 
(438
) 
  
 
(379
) 
    
 
–
 
  
 
(817
) 
       (448 )      (270 )        –       (718 ) 
Changes in risk, parameters and exposures
  
 
(407
) 
  
 
827
 
    
 
957
 
  
 
1,377
 
       (153 )      647         718       1,212  
Write-offs
  
 
–
 
  
 
–
 
    
 
(763
) 
  
 
(763
) 
       –       –         (324 )      (324 ) 
Recoveries
  
 
–
 
  
 
–
 
    
 
63
 
  
 
63
 
       –       –         31       31  
Exchange rate and other
  
 
(2
) 
  
 
5
 
          
 
(133
) 
  
 
(130
) 
             8       9               (117 )      (100 ) 
Balance at end of period
  
$
787
 
  
$
1,038
 
          
$
968
 
  
$
2,793
 
           $ 774     $ 785             $ 767     $ 2,326  
Impact of Staging on ACL
The following table illustrates the impact of staging on our ACL by comparing our allowance if all performing loans were in Stage 1 to the actual ACL recorded on these assets.
 
     As at   
   
October 31, 2024
            October 31, 2023  
(Millions of Canadian dollars)  
ACL – All performing
loans in Stage 1
     
Impact of
staging
     
Stage 1 and 2
ACL
             ACL – All performing
loans in Stage 1		      Impact of
staging		      Stage 1 and 2
ACL		  
Performing loans
(1)
  
 
$ 3,313
 
   
 
$ 1,523
 
   
 
$ 4,836
 
              $ 2,893        $ 1,257        $ 4,150  
 
(1)   Represents loans and commitments in Stage 1 and Stage 2.
Credit Risk Exposure by Internal Risk Rating
Credit risk exposure by internal risk rating
The following table presents the gross carrying amount of loans measured at amortized cost, and the full contractual amount of undrawn loan commitments subject to the impairment requirements of IFRS 9. 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 for Wholesale and Retail facilities in the Credit risk section of Management’s Discussion and Analysis.
 
  
 
As at   
 
 
 
October 31, 2024
 
 
 
 
 
October 31, 2023
 
(Millions of Canadian dollars)
 
Stage 1
    
Stage 2
    
Stage 3 
(1), (2)		    
Total
            Stage 1     Stage 2     Stage 3 (1), (2)     Total
 
Retail
 
 
 
 
 
 
 
 
 
Loans outstanding –Residential mortgages
 
 
 
 
 
 
 
 
 
Low risk
  
$
388,742
 
  
$
1,354
 
  
$
–
 
  
$
390,096
 
     $ 349,001     $ 1,630     $ –     $ 350,631  
Medium risk
  
 
18,419
 
  
 
4,479
 
  
 
–
 
  
 
22,898
 
       19,126       1,610       –       20,736  
High risk
  
 
1,761
 
  
 
6,593
 
  
 
–
 
  
 
8,354
 
       1,582       4,927       –       6,509  
Not rated
(3)
  
 
52,569
 
  
 
1,479
 
  
 
–
 
  
 
54,048
 
       54,247       1,220       –       55,467  
Impaired
  
 
–
 
  
 
–
 
  
 
1,233
 
  
 
1,233
 
  
 
 
 
     –       –       682       682  
 
  
 
461,491
 
  
 
13,905
 
  
 
1,233
 
  
 
476,629
 
  
 
 
 
     423,956       9,387       682       434,025  
Items not subject to impairment
(
4
)
  
 
 
 
  
 
 
 
  
 
 
 
  
 
915
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
     476  
Total
  
 
 
 
  
 
 
 
  
 
 
 
  
$
477,544
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
   $ 434,501  
Loans outstanding –Personal
                  
Low risk
  
$
82,904
 
  
$
1,680
 
  
$
–
 
  
$
84,584
 
     $ 75,572     $ 1,676     $ –     $ 77,248  
Medium risk
  
 
5,525
 
  
 
3,063
 
  
 
–
 
  
 
8,588
 
       5,587       2,915       –       8,502  
High risk
  
 
592
 
  
 
2,365
 
  
 
–
 
  
 
2,957
 
       477       2,088       –       2,565  
Not rated
(
3
)
  
 
11,303
 
  
 
498
 
  
 
–
 
  
 
11,801
 
       9,982       157       –       10,139  
Impaired
  
 
–
 
  
 
–
 
  
 
408
 
  
 
408
 
  
 
 
 
     –       –       280       280  
Total
  
$
100,324
 
  
$
7,606
 
  
$
408
 
  
$
108,338
 
  
 
 
 
   $ 91,618     $ 6,836     $ 280     $ 98,734  
Loans outstanding – Credit cards
                  
Low risk
  
$
17,363
 
  
$
177
 
  
$
–
 
  
$
17,540
 
     $ 16,331     $ 135     $ –     $ 16,466  
Medium risk
  
 
1,999
 
  
 
2,436
 
  
 
–
 
  
 
4,435
 
       1,771       2,132       –       3,903  
High risk
  
 
75
 
  
 
2,289
 
  
 
–
 
  
 
2,364
 
       41       1,734       –       1,775  
Not rated
(3)
  
 
1,173
 
  
 
53
 
  
 
–
 
  
 
1,226
 
  
 
 
 
     856       35       –       891  
Total
  
$
20,610
 
  
$
4,955
 
  
$
–
 
  
$
25,565
 
  
 
 
 
   $ 18,999     $ 4,036     $ –     $ 23,035  
Loans outstanding – Small business
                  
Low risk
  
$
9,428
 
  
$
773
 
  
$
–
 
  
$
10,201
 
     $ 8,641     $ 920     $ –     $ 9,561  
Medium risk
  
 
2,740
 
  
 
962
 
  
 
–
 
  
 
3,702
 
       2,238       936       –       3,174  
High risk
  
 
214
 
  
 
1,086
 
  
 
–
 
  
 
1,300
 
       99       592       –       691  
Not rated
(
3
)
  
 
7
 
  
 
–
 
  
 
–
 
  
 
7
 
       11       –       –       11  
Impaired
  
 
–
 
  
 
–
 
  
 
321
 
  
 
321
 
  
 
 
 
     –       –       244       244  
Total
  
$
12,389
 
  
$
2,821
 
  
$
321
 
  
$
15,531
 
  
 
 
 
   $ 10,989     $ 2,448     $ 244     $ 13,681  
Undrawn loan commitments –Retail
                  
Low risk
  
$
284,036
 
  
$
592
 
  
$
–
 
  
$
284,628
 
     $ 266,209     $ 610     $ –     $ 266,819  
Medium risk
  
 
12,110
 
  
 
381
 
  
 
–
 
  
 
12,491
 
       10,759       298       –       11,057  
High risk
  
 
746
 
  
 
602
 
  
 
–
 
  
 
1,348
 
       956       434       –       1,390  
Not rated
(
3
)
  
 
10,715
 
  
 
88
 
  
 
–
 
  
 
10,803
 
  
 
 
 
     6,686       138       –       6,824  
Total
  
$
307,607
 
  
$
1,663
 
  
$
–
 
  
$
309,270
 
  
 
 
 
   $ 284,610     $ 1,480     $ –     $ 286,090  
Wholesale – Loans outstanding
                  
Investment grade
  
$
116,549
 
  
$
1,471
 
  
$
–
 
  
$
118,020
 
     $ 89,037     $ 416     $ –     $ 89,453  
Non-investment grade
  
 
189,889
 
  
 
26,826
 
  
 
–
 
  
 
216,715
 
       156,211       19,210       –       175,421  
Not rated
(
3
)
  
 
12,871
 
  
 
721
 
  
 
–
 
  
 
13,592
 
       10,968       238       –       11,206  
Impaired
  
 
–
 
  
 
–
 
  
 
3,905
 
  
 
3,905
 
  
 
 
 
     –       –       2,498       2,498  
 
  
 
319,309
 
 
 
29,018
 
 
 
3,905
 
 
 
352,232
 
  
 
 
 
     256,216       19,864       2,498       278,578  
Items not subject to impairment
(
4
)
  
 
 
 
  
 
 
 
  
 
 
 
  
 
8,207
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
     9,248  
Total
  
 
 
 
  
 
 
 
  
 
 
 
  
$
360,439
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
   $ 287,826  
Undrawn loan commitments –
Wholesale
                  
Investment grade
  
$
345,236
 
  
$
516
 
  
$
–
 
  
$
345,752
 
     $ 312,178     $ 186     $ –     $ 312,364  
Non-investment grade
  
 
170,212
 
  
 
14,512
 
  
 
–
 
  
 
184,724
 
       130,994       13,947       –       144,941  
Not rated
(
3
)
  
 
3,290
 
  
 
17
 
  
 
–
 
  
 
3,307
 
  
 
 
 
     4,176       –       –       4,176  
Total
  
$
 518,738
 
  
$
 15,045
 
  
$
 –
 
  
$
 533,783
 
  
 
 
 
   $  447,348     $  14,133     $  –     $  461,481  
 
(1)   As at October 31, 2024, 88% of credit-impaired loans were either fully or partially collateralized (October 31, 2023 – 88%). For details on the types of collateral held against credit-impaired assets and our policies on collateral, refer to the Credit risk mitigation section of Management’s Discussion and Analysis.
(2)
 
Includes $109 million of purchased credit-impaired loans acquired in the HSBC Canada transaction.
(3)
 
In certain cases where an internal risk rating is not assigned, we use other approved credit risk assessments or rating methodologies, policies and tools to manage our credit risk.
(4)
 
Items not subject to impairment are loans held at FVTPL.
Disclosure of Loans Past Due But Not Impaired
 
Loans past due but not impaired
(1), (2)
 
    
As at  
  
   
October 31, 2024
        
October 31, 2023
  
(Millions of Canadian dollars)
  
30 to 89 days
    
90 days
and greater
    
Total
         30 to 89 days     90 days
and greater		     Total  
Retail
  
$
2,542
 
  
$
263
 
  
$
2,805
 
     $ 1,840     $ 208     $ 2,048  
Wholesale
  
 
1,454
 
  
 
4
 
  
 
1,458
 
         1,823       49       1,872  
   
$
3,996
 
  
$
267
 
  
$
4,263
 
       $ 3,663     $ 257     $  3,920  
 
(1)   Excludes loans less than
30
days past due as they are not generally representative of the borrowers’ ability to meet their payment obligations.
(2)   Amounts presented may include loans past due as a result of administrative processes, such as mortgage loans on which payments are restrained pending payout due to sale or refinancing. Past due loans arising from administrative processes are not representative of the borrowers’ ability to meet their payment obligations.