| Summary of Maximum Exposure to Credit Losses Related to Guarantees and Commitments Provided to Third Parties |
The table below summarizes our maximum exposure to credit losses related to our guarantees and commitments provided to third parties. The maximum exposure to credit risk relating to a guarantee is the maximum risk of loss if there was a total default by the guaranteed parties, without consideration of possible recoveries under recourse provisions, insurance policies or from collateral held or pledged. The maximum exposure to credit risk relating to a commitment to extend credit is the full amount of the commitment. In both cases, the maximum risk exposure is significantly greater than the amount recognized as a liability in our Consolidated Balance Sheets.
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Maximum exposure
to credit losses |
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As at |
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(Millions of Canadian dollars) |
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October 31 2023 |
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Financial standby letters of credit |
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$ |
23,314 |
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Commitments to extend credit |
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Backstop liquidity facilities |
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51,544 |
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Credit enhancements |
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3,226 |
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Documentary and commercial letters of credit |
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291 |
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Other commitments to extend credit |
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301,132 |
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Other credit-related commitments |
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Securities lending indemnifications |
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95,055 |
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Performance guarantees |
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7,503 |
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Sponsored member guarantees |
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14,043 |
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Other |
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203 |
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| Details of Assets Pledged Against Liabilities and Collateral Assets Held or Re-pledged |
Assets pledged against liabilities and collateral assets held or re-pledged
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As at |
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(Millions of Canadian dollars) |
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October 31 2023 |
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Sources of pledged assets and collateral |
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Bank assets |
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Loans |
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$ |
102,944 |
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Securities |
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107,122 |
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Other assets |
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28,953 |
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239,019 |
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Collateral received and available for sale or re-pledging |
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502,109 |
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Less: not sold or re-pledged |
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(6,876 |
) |
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495,233 |
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$ |
734,252 |
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Uses of pledged assets and collateral |
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Securities borrowing and lending |
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$ |
168,681 |
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Obligations related to securities sold short |
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46,260 |
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Obligations related to securities loaned or sold under repurchase agreements |
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331,784 |
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Securitization |
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38,686 |
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Covered bonds |
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69,802 |
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Derivative transactions |
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40,352 |
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Foreign governments and central banks |
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9,111 |
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Clearing systems, payment systems and depositories |
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10,709 |
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Other |
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18,867 |
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$ |
734,252 |
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| (1) |
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Primarily relates to Obligations related to securities loaned or sold under repurchase agreements, Securities loaned and Derivative transactions. |
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