Document and Entity Information
Document and Entity Information | 6 Months Ended |
Apr. 30, 2019 | |
Document and entity information [abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Apr. 30, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q2 |
Trading Symbol | TD |
Entity Registrant Name | TORONTO DOMINION BANK |
Entity Central Index Key | 0000947263 |
Current Fiscal Year End Date | --10-31 |
Interim Consolidated Balance Sh
Interim Consolidated Balance Sheet - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 5,009 | $ 4,735 |
Interest-bearing deposits with banks | 28,453 | 30,720 |
Cash and interest bearing deposits with banks | 33,462 | 35,455 |
Trading loans, securities, and other (Note 4) | 132,805 | 127,897 |
Non-trading financial assets at fair value through profit or loss (Note 4) | 4,202 | 4,015 |
Derivatives (Note 4) | 43,624 | 56,996 |
Financial assets designated at fair value through profit or loss (Note 4) | 3,379 | 3,618 |
Financial assets at fair value through other comprehensive income (Notes 4, 5, 6) | 125,109 | 130,600 |
Total Trading and Non Trading Financial Assets | 309,119 | 323,126 |
Debt securities at amortized cost, net of allowance for credit losses (Notes 4, 5) | 111,544 | 107,171 |
Securities purchased under reverse repurchase agreements (Note 4) | 149,949 | 127,379 |
Loans (Notes 4, 6) | ||
Residential mortgages | 227,258 | 225,191 |
Consumer instalment and other personal | 174,708 | 172,079 |
Credit card | 36,004 | 35,018 |
Business and government | 229,423 | 217,654 |
Gross loans | 667,393 | 649,942 |
Allowance for loan losses (Note 6) | (3,778) | (3,549) |
Loans, net of allowance for loan losses | 663,615 | 646,393 |
Other | ||
Customers' liability under acceptances | 16,189 | 17,267 |
Goodwill (Note 9) | 17,232 | 16,536 |
Other intangibles | 2,623 | 2,459 |
Land, buildings, equipment, and other depreciable assets | 5,500 | 5,324 |
Deferred tax assets (Note 16) | 2,136 | 2,812 |
Amounts receivable from brokers, dealers, and clients | 18,954 | 26,940 |
Other assets (Note 10) | 17,238 | 15,596 |
Total other miscellaneous assets | 88,899 | 95,379 |
Total assets | 1,356,588 | 1,334,903 |
LIABILITIES | ||
Trading deposits (Notes 4, 11) | 53,974 | 114,704 |
Derivatives (Note 4) | 42,199 | 48,270 |
Securitization liabilities at fair value (Note 4) | 12,738 | 12,618 |
Financial liabilities designated at fair value through profit or loss (Notes 4, 11) | 57,783 | 16 |
Total financial liabilities other than non-trading deposits and other | 166,694 | 175,608 |
Deposits (Note 11) | ||
Personal | 489,683 | 477,644 |
Banks | 19,669 | 16,712 |
Business and government | 365,991 | 357,083 |
Total deposits, other than trading | 875,343 | 851,439 |
Other | ||
Acceptances | 16,189 | 17,269 |
Obligations related to securities sold short (Note 4) | 36,365 | 39,478 |
Obligations related to securities sold under repurchase agreements (Note 4) | 107,885 | 93,389 |
Securitization liabilities at amortized cost (Note 4) | 14,020 | 14,683 |
Amounts payable to brokers, dealers, and clients | 19,323 | 28,385 |
Insurance-related liabilities | 6,644 | 6,698 |
Other liabilities (Note 12) | 20,259 | 19,174 |
Total other miscellaneous liabilities | 220,685 | 219,076 |
Subordinated notes and debentures (Note 4) | 8,968 | 8,740 |
Total liabilities | 1,271,690 | 1,254,863 |
EQUITY | ||
Contributed surplus | 162 | 193 |
Retained earnings | 47,980 | 46,145 |
Accumulated other comprehensive income (loss) | 9,743 | 6,639 |
Equity attributable to owners of parent | 84,898 | 79,047 |
Non-controlling interests in subsidiaries (Note 13) | 993 | |
Total equity | 84,898 | 80,040 |
Total liabilities and equity | 1,356,588 | 1,334,903 |
TD Ameritrade [member] | ||
Other | ||
Investment in TD Ameritrade (Note 7) | 9,027 | 8,445 |
Common shares [member] | ||
EQUITY | ||
Issued capital (Note 13) | 21,718 | 21,221 |
Treasury shares - (Note 13) | (49) | (144) |
Preferred shares [member] | ||
EQUITY | ||
Issued capital (Note 13) | 5,350 | 5,000 |
Treasury shares - (Note 13) | $ (6) | $ (7) |
Interim Consolidated Statement
Interim Consolidated Statement of Income - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | ||
Interest income | |||||
Loans | [1] | $ 7,745 | $ 6,618 | $ 15,647 | $ 13,087 |
Securities | |||||
Interest | [1] | 1,954 | 1,541 | 4,074 | 2,995 |
Dividends | [1] | 384 | 267 | 718 | 513 |
Deposits with banks | [1] | 190 | 183 | 378 | 322 |
Total interest income | [1] | 10,273 | 8,609 | 20,817 | 16,917 |
Interest expense (Note 20) | |||||
Deposits | 3,349 | 2,404 | 6,873 | 4,513 | |
Securitization liabilities | 129 | 143 | 280 | 282 | |
Subordinated notes and debentures | 93 | 80 | 188 | 172 | |
Other | 830 | 584 | 1,744 | 1,122 | |
Total interest expense | 4,401 | 3,211 | 9,085 | 6,089 | |
Net interest income | 5,872 | 5,398 | 11,732 | 10,828 | |
Non-interest income | |||||
Investment and securities services | 1,249 | 1,120 | 2,413 | 2,291 | |
Credit fees | 331 | 292 | 634 | 574 | |
Net securities gain (loss) (Note 5) | 35 | 33 | 24 | 36 | |
Trading income (loss) | 237 | 318 | 412 | 605 | |
Income (loss) from non-trading financial instruments at fair value through profit or loss | 73 | 5 | 84 | 18 | |
Income (loss) from financial instruments designated at fair value through profit or loss | 53 | (36) | 89 | (111) | |
Service charges | 692 | 652 | 1,406 | 1,323 | |
Card services | 614 | 550 | 1,257 | 1,145 | |
Insurance revenue | 1,035 | 1,024 | 2,070 | 1,968 | |
Other income (loss) | 37 | 126 | 105 | 180 | |
Total non-interest income | 4,356 | 4,084 | 8,494 | 8,029 | |
Total revenue | 10,228 | 9,482 | 20,226 | 18,857 | |
Provision for credit losses (Note 6) | 633 | 556 | 1,483 | 1,249 | |
Insurance claims and related expenses | 668 | 558 | 1,370 | 1,133 | |
Non-interest expenses | |||||
Salaries and employee benefits (Note 15) | 2,799 | 2,497 | 5,651 | 5,057 | |
Occupancy, including depreciation | 454 | 437 | 914 | 879 | |
Equipment, including depreciation | 282 | 265 | 561 | 510 | |
Amortization of other intangibles | 199 | 216 | 394 | 412 | |
Marketing and business development | 206 | 184 | 366 | 340 | |
Restructuring charges (recovery) | (5) | (7) | (6) | 38 | |
Brokerage-related and sub-advisory fees | 83 | 90 | 166 | 184 | |
Professional and advisory services | 320 | 248 | 647 | 487 | |
Other | 910 | 907 | 2,410 | 1,791 | |
Total non-interest expenses | 5,248 | 4,837 | 11,103 | 9,698 | |
Income before income taxes and equity in net income of an investment in TD Ameritrade | 3,679 | 3,531 | 6,270 | 6,777 | |
Provision for (recovery of) income taxes (Note 16) | 773 | 746 | 1,276 | 1,786 | |
Net income | [2] | 3,172 | 2,916 | 5,582 | 5,269 |
Preferred dividends | 62 | 52 | 122 | 104 | |
Net income available to common shareholders and non-controlling interests in subsidiaries | 3,110 | 2,864 | 5,460 | 5,165 | |
Attributable to: | |||||
Common shareholders | $ 3,110 | 2,846 | 5,442 | 5,129 | |
Non-controlling interests in subsidiaries | $ 18 | $ 18 | $ 36 | ||
Earnings per share (Canadian dollars) (Note 17) | |||||
Basic | $ 1.70 | $ 1.54 | $ 2.97 | $ 2.78 | |
Diluted | 1.70 | 1.54 | 2.97 | 2.78 | |
Dividends per common share (Canadian dollars) | $ 0.74 | $ 0.67 | $ 1.41 | $ 1.27 | |
TD Ameritrade [member] | |||||
Non-interest expenses | |||||
Equity in net income of an investment in TD Ameritrade (Note 7) | $ 266 | $ 131 | $ 588 | $ 278 | |
[1] | Includes $8,554 million and $17,239 million, respectively, for the three and six months ended April 30, 2019 (three and six months ended April 30, 2018 - $7,310 million and $14,411 million, respectively) which have been calculated based on the effective interest rate method. Refer to Note 20. | ||||
[2] | The amounts are net of income tax provisions (recoveries) presented in the following table. |
Interim Consolidated Statemen_2
Interim Consolidated Statement of Income (Parenthetical) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Profit or loss [abstract] | ||||
Interest income calculated using effective interest rate method | $ 8,554 | $ 7,310 | $ 17,239 | $ 14,411 |
Interim Consolidated Statemen_3
Interim Consolidated Statement of Comprehensive Income - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | ||
Statement [LineItems] | |||||
Net income | [1] | $ 3,172 | $ 2,916 | $ 5,582 | $ 5,269 |
Net change in unrealized gains (losses) on financial assets at fair value through other comprehensive income | |||||
Change in unrealized gains (losses) on debt securities at fair value through other comprehensive income | [1] | 63 | (167) | 96 | (161) |
Reclassification to earnings of net losses (gains) in respect of debt securities at fair value through other comprehensive income | [1] | (26) | (3) | 14 | (5) |
Reclassification to earnings of changes in allowance for credit losses on debt securities at fair value through other comprehensive income | [1] | (2) | 12 | (2) | 16 |
Net change in unrealized gains (losses) on financial assets at fair value through other comprehensive income | [1] | 35 | (158) | 108 | (150) |
Unrealized gains (losses) on investments in foreign operations | [1] | 1,358 | 2,791 | 1,227 | (295) |
Net gains (losses) on hedges of investments in foreign operations | [1] | (338) | (763) | (319) | 78 |
Net change in unrealized foreign currency translation gains (losses) on investments in foreign operations, net of hedging activities | [1] | 1,020 | 2,028 | 908 | (217) |
Net change in gains (losses) on derivatives designated as cash flow hedges | |||||
Change in gains (losses) on derivatives designated as cash flow hedges | [1] | 1,339 | 393 | 2,654 | (2,002) |
Reclassification to earnings of losses (gains) on cash flow hedges | [1] | (600) | (814) | (470) | 335 |
Net change in gains (losses) on derivatives designated as cash flow hedges | [1] | 739 | (421) | 2,184 | (1,667) |
Items that will not be subsequently reclassified to net income | |||||
Actuarial gains (losses) on employee benefit plans | [1] | (122) | 53 | (424) | 73 |
Change in net unrealized gains (losses) on equity securities designated at fair value through other comprehensive income | [1] | (32) | 2 | (84) | 28 |
Change in fair value due to credit risk on financial liabilities designated at fair value through profit or loss | [1] | (2) | (12) | ||
Other comprehensive income that will not be reclassified to profit or loss net of tax | [1] | (156) | 55 | (520) | 101 |
Total other comprehensive income (loss), net of income taxes | [1] | 1,638 | 1,504 | 2,680 | (1,933) |
Total comprehensive income (loss) | [1] | 4,810 | 4,420 | 8,262 | 3,336 |
Attributable to: | |||||
Non-controlling interests in subsidiaries | [1] | 18 | 18 | 36 | |
Income Tax Provisions (Recoveries) in the Consolidated Statement of Comprehensive Income | |||||
Change in unrealized gains (losses) on debt securities at fair value through other comprehensive income | 21 | (56) | 28 | (113) | |
Less: Reclassification to earnings of net losses (gains) in respect of debt securities at fair value through other comprehensive income | 9 | 0 | (6) | 1 | |
Less: Reclassification to earnings of changes in allowance for credit losses on debt securities at fair value through other comprehensive income | (4) | (4) | |||
Unrealized gains (losses) on investments in foreign operations | 0 | 0 | 0 | 0 | |
Net gains (losses) on hedges of investments in foreign operations | (122) | (275) | (115) | 29 | |
Change in gains (losses) on derivatives designated as cash flow hedges | 597 | 361 | 1,032 | (685) | |
Less: Reclassification to earnings of losses (gains) on cash flow hedges | 334 | 503 | 258 | (73) | |
Actuarial gains (losses) on employee benefit plans | (44) | 20 | (153) | 44 | |
Change in net unrealized gains (losses) on equity securities designated at fair value through other comprehensive income | (12) | 2 | (31) | 16 | |
Change in fair value due to credit risk on financial liabilities designated at fair value through profit or loss | (1) | (5) | |||
Total income taxes | 96 | (447) | 504 | (633) | |
Common shares [member] | |||||
Attributable to: | |||||
Attributable to shareholders | [1] | 4,748 | 4,350 | 8,122 | 3,196 |
Preferred shares [member] | |||||
Attributable to: | |||||
Attributable to shareholders | [1] | $ 62 | $ 52 | $ 122 | $ 104 |
[1] | The amounts are net of income tax provisions (recoveries) presented in the following table. |
Interim Consolidated Statemen_4
Interim Consolidated Statement of Changes in Equity - CAD ($) $ in Millions | Total | Issued capital [member]Common shares [member] | Issued capital [member]Preferred shares [member] | Treasury shares [member]Common shares [member] | Treasury shares [member]Preferred shares [member] | Contributed surplus [member] | Retained earnings [member] | Retained earnings [member]Common shares [member] | Retained earnings [member]Preferred shares [member] | Accumulated other comprehensive income (loss) [member] | Accumulated other comprehensive income (loss) [member]Reserve of change in fair value of financial liability attributable to change in credit risk of liability [member] | Accumulated other comprehensive income (loss) [member]Net unrealized foreign currency translation gain (loss) on investments in foreign operations, net of hedging activities [member] | Accumulated other comprehensive income (loss) [member]Net gain (loss) on derivatives designated as cash flow hedges [member] | Accumulated other comprehensive income (loss) [member]Net unrealized gain (loss) on debt securities at fair value through other comprehensive income [member] | Accumulated other comprehensive income (loss) [member]Net unrealized gain (loss) on equity securities designated at fair value through other comprehensive income [member] | Equity attributable to owners of parent [member] | Non-controlling interests in subsidiaries [member] | |||
Balance at beginning of period at Oct. 31, 2017 | $ 20,931 | $ 4,750 | $ (176) | $ (7) | $ 214 | $ 40,489 | $ 7,791 | $ (408) | $ 510 | $ 113 | $ 983 | |||||||||
Statement [LineItems] | ||||||||||||||||||||
Net premium (discount) on sale of treasury shares | (10) | |||||||||||||||||||
Net income attributable to non-controlling interests in subsidiaries | $ 36 | 36 | ||||||||||||||||||
Purchase of shares | (3,590) | (79) | ||||||||||||||||||
Issue of shares | 350 | |||||||||||||||||||
Other comprehensive income (loss) | (217) | [1] | (217) | |||||||||||||||||
Other comprehensive income (loss) | (1,667) | [1] | (1,667) | |||||||||||||||||
Impact on adoption of IFRS 9 | 53 | [2] | 19 | (96) | ||||||||||||||||
Issuance of stock options, net of options exercised | 96 | (9) | ||||||||||||||||||
Sale of shares | 3,658 | 81 | ||||||||||||||||||
Net income attributable to shareholders | 5,233 | |||||||||||||||||||
Other comprehensive income (loss) | (150) | [1] | (166) | |||||||||||||||||
Other comprehensive income (loss) | 29 | |||||||||||||||||||
Shares issued as a result of dividend reinvestment plan | 183 | |||||||||||||||||||
Dividends | $ (2,341) | $ (104) | ||||||||||||||||||
Allowance for credit losses | 16 | [1] | 16 | |||||||||||||||||
Reclassification of loss (gain) to retained earnings | (1) | |||||||||||||||||||
Share issue expenses and others | (4) | |||||||||||||||||||
Purchase of shares for cancellation and other | (7) | |||||||||||||||||||
Other | (1) | (27) | ||||||||||||||||||
Net premium on repurchase of common shares, redemption of preferred shares, and other | (37) | |||||||||||||||||||
Actuarial gains (losses) on employee benefit plans | 73 | [1] | 73 | |||||||||||||||||
Realized gains (losses) on equity securities designated at fair value through other comprehensive income | 1 | |||||||||||||||||||
Balance at end of period at Apr. 30, 2018 | 76,662 | 21,203 | 5,100 | (108) | (5) | 194 | 43,363 | $ 5,923 | 7,574 | (2,075) | 379 | 45 | $ 75,670 | 992 | ||||||
Balance at beginning of period at Oct. 31, 2017 | 20,931 | 4,750 | (176) | (7) | 214 | 40,489 | 7,791 | (408) | 510 | 113 | 983 | |||||||||
Statement [LineItems] | ||||||||||||||||||||
Purchase of shares | (8,295) | (129) | ||||||||||||||||||
Issue of shares | 750 | |||||||||||||||||||
Issuance of stock options, net of options exercised | 152 | |||||||||||||||||||
Sale of shares | 8,327 | 129 | ||||||||||||||||||
Purchase of shares for cancellation and other | (228) | |||||||||||||||||||
Balance at end of period at Oct. 31, 2018 | 80,040 | 21,221 | 5,000 | (144) | (7) | 193 | 46,145 | 8,826 | (2,487) | 245 | 55 | 993 | ||||||||
Balance at beginning of period at Feb. 01, 2018 | 21,094 | 4,750 | (92) | (9) | 229 | 41,744 | 5,546 | (1,654) | 537 | 43 | 986 | |||||||||
Statement [LineItems] | ||||||||||||||||||||
Net premium (discount) on sale of treasury shares | (34) | |||||||||||||||||||
Net income attributable to non-controlling interests in subsidiaries | 18 | 18 | ||||||||||||||||||
Purchase of shares | (1,691) | (48) | ||||||||||||||||||
Issue of shares | 350 | |||||||||||||||||||
Other comprehensive income (loss) | 2,028 | [1] | 2,028 | |||||||||||||||||
Other comprehensive income (loss) | (421) | [1] | (421) | |||||||||||||||||
Issuance of stock options, net of options exercised | 24 | (1) | ||||||||||||||||||
Sale of shares | 1,675 | 52 | ||||||||||||||||||
Net income attributable to shareholders | 2,898 | |||||||||||||||||||
Other comprehensive income (loss) | (158) | [1] | (170) | |||||||||||||||||
Other comprehensive income (loss) | 2 | |||||||||||||||||||
Shares issued as a result of dividend reinvestment plan | 92 | |||||||||||||||||||
Dividends | (1,239) | (52) | ||||||||||||||||||
Allowance for credit losses | 12 | [1] | 12 | |||||||||||||||||
Share issue expenses and others | (4) | |||||||||||||||||||
Purchase of shares for cancellation and other | (7) | |||||||||||||||||||
Other | (12) | |||||||||||||||||||
Net premium on repurchase of common shares, redemption of preferred shares, and other | (37) | |||||||||||||||||||
Actuarial gains (losses) on employee benefit plans | 53 | [1] | 53 | |||||||||||||||||
Balance at end of period at Apr. 30, 2018 | 76,662 | 21,203 | 5,100 | (108) | (5) | 194 | 43,363 | 5,923 | 7,574 | (2,075) | 379 | 45 | 75,670 | 992 | ||||||
Balance at beginning of period at Oct. 31, 2018 | 80,040 | 21,221 | 5,000 | (144) | (7) | 193 | 46,145 | 8,826 | (2,487) | 245 | 55 | 993 | ||||||||
Statement [LineItems] | ||||||||||||||||||||
Impact on adoption of IFRS 15 (Note 2) | [3] | (41) | ||||||||||||||||||
Net premium (discount) on sale of treasury shares | (26) | |||||||||||||||||||
Net income attributable to non-controlling interests in subsidiaries | 18 | 18 | ||||||||||||||||||
Purchase of shares | (5,198) | (69) | ||||||||||||||||||
Issue of shares | 350 | |||||||||||||||||||
Other comprehensive income (loss) | (12) | [1] | $ (12) | |||||||||||||||||
Other comprehensive income (loss) | 908 | [1] | 908 | |||||||||||||||||
Other comprehensive income (loss) | 2,184 | [1] | 2,184 | |||||||||||||||||
Issuance of stock options, net of options exercised | 52 | (2) | ||||||||||||||||||
Redemption of non-controlling interests in subsidiaries | (1,000) | |||||||||||||||||||
Sale of shares | 5,293 | 70 | ||||||||||||||||||
Net income attributable to shareholders | 5,564 | |||||||||||||||||||
Other comprehensive income (loss) | 108 | [1] | 110 | |||||||||||||||||
Other comprehensive income (loss) | (35) | |||||||||||||||||||
Shares issued as a result of dividend reinvestment plan | 197 | |||||||||||||||||||
Dividends | (2,577) | (122) | ||||||||||||||||||
Allowance for credit losses | (2) | [1] | (2) | |||||||||||||||||
Reclassification of loss (gain) to retained earnings | (49) | |||||||||||||||||||
Shares issued in connection with acquisitions (Notes 8, 13) | 366 | |||||||||||||||||||
Share issue expenses and others | (4) | |||||||||||||||||||
Purchase of shares for cancellation and other | (118) | |||||||||||||||||||
Other | (3) | $ (11) | ||||||||||||||||||
Net premium on repurchase of common shares, redemption of preferred shares, and other | (610) | |||||||||||||||||||
Actuarial gains (losses) on employee benefit plans | (424) | [1] | (424) | |||||||||||||||||
Realized gains (losses) on equity securities designated at fair value through other comprehensive income | 49 | |||||||||||||||||||
Balance at end of period at Apr. 30, 2019 | 84,898 | 21,718 | 5,350 | (49) | (6) | 162 | 47,980 | 9,743 | (12) | 9,734 | (303) | 353 | (29) | 84,898 | ||||||
Balance at beginning of period at Jan. 31, 2019 | 21,661 | 5,350 | (139) | (3) | 158 | 46,660 | (10) | 8,714 | (1,042) | 318 | 3 | |||||||||
Statement [LineItems] | ||||||||||||||||||||
Net premium (discount) on sale of treasury shares | 6 | |||||||||||||||||||
Purchase of shares | (2,855) | (36) | ||||||||||||||||||
Other comprehensive income (loss) | (2) | [1] | (2) | |||||||||||||||||
Other comprehensive income (loss) | 1,020 | [1] | 1,020 | |||||||||||||||||
Other comprehensive income (loss) | 739 | [1] | 739 | |||||||||||||||||
Issuance of stock options, net of options exercised | 24 | (1) | ||||||||||||||||||
Sale of shares | 2,945 | 33 | ||||||||||||||||||
Net income attributable to shareholders | 3,172 | |||||||||||||||||||
Other comprehensive income (loss) | 35 | [1] | 37 | |||||||||||||||||
Shares issued as a result of dividend reinvestment plan | 98 | |||||||||||||||||||
Dividends | $ (1,350) | $ (62) | ||||||||||||||||||
Allowance for credit losses | (2) | [1] | (2) | |||||||||||||||||
Reclassification of loss (gain) to retained earnings | (32) | |||||||||||||||||||
Purchase of shares for cancellation and other | (65) | |||||||||||||||||||
Other | (1) | |||||||||||||||||||
Net premium on repurchase of common shares, redemption of preferred shares, and other | (350) | |||||||||||||||||||
Actuarial gains (losses) on employee benefit plans | (122) | [1] | (122) | |||||||||||||||||
Realized gains (losses) on equity securities designated at fair value through other comprehensive income | 32 | |||||||||||||||||||
Balance at end of period at Apr. 30, 2019 | $ 84,898 | $ 21,718 | $ 5,350 | $ (49) | $ (6) | $ 162 | $ 47,980 | $ 9,743 | $ (12) | $ 9,734 | $ (303) | $ 353 | $ (29) | $ 84,898 | ||||||
[1] | The amounts are net of income tax provisions (recoveries) presented in the following table. | |||||||||||||||||||
[2] | IFRS 9, Financial Instruments (IFRS 9). | |||||||||||||||||||
[3] | IFRS 15, Revenue from Contracts with Customers (IFRS 15). |
Interim Consolidated Statemen_5
Interim Consolidated Statement of Cash Flows - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Cash flows from (used in) operating activities | ||||
Net income before income taxes, including equity in net income of an investment in TD Ameritrade | $ 3,945 | $ 3,662 | $ 6,858 | $ 7,055 |
Adjustments to determine net cash flows from (used in) operating activities | ||||
Provision for credit losses (Note 6) | 633 | 556 | 1,483 | 1,249 |
Depreciation | 145 | 140 | 289 | 277 |
Amortization of other intangibles | 199 | 216 | 394 | 412 |
Net securities losses (gains) (Note 5) | (35) | (33) | (24) | (36) |
Deferred taxes | (91) | (136) | 50 | 544 |
Changes in operating assets and liabilities | ||||
Interest receivable and payable (Notes 10, 12) | 63 | (27) | (13) | (89) |
Securities sold under repurchase agreements | 13,123 | 12,229 | 14,496 | 7,586 |
Securities purchased under reverse repurchase agreements | (17,519) | (16,314) | (22,570) | (6,485) |
Securities sold short | (2,525) | 238 | (3,113) | 1,923 |
Trading loans and securities | (10,735) | (2,142) | (4,908) | (10,185) |
Loans net of securitization and sales | (15,762) | (15,359) | (18,646) | (20,136) |
Deposits | (2,580) | 25,923 | (36,826) | 20,430 |
Derivatives | 1,004 | (5,214) | 7,301 | (2,212) |
Non-trading financial assets at fair value through profit or loss | (327) | 417 | (96) | 5,185 |
Financial assets and liabilities designated at fair value through profit or loss | 31,279 | (149) | 58,006 | (282) |
Securitization liabilities | 478 | 16 | (543) | (1,204) |
Current taxes | (66) | (1,260) | (830) | (1,101) |
Brokers, dealers and clients amounts receivable and payable | 1,102 | (85) | (1,076) | (871) |
Other | (3,733) | (8,691) | (4,619) | (5,695) |
Net cash from (used in) operating activities | (1,668) | (6,144) | (4,975) | (3,913) |
Cash flows from (used in) financing activities | ||||
Redemption or repurchase of subordinated notes and debentures | (21) | 31 | 23 | (1,819) |
Common shares issued (Note 13) | 20 | 20 | 44 | 81 |
Repurchase of common shares (Note 13) | (415) | (44) | (728) | (44) |
Preferred shares issued (Note 13) | 346 | 346 | 346 | |
Sale of treasury shares (Note 13) | 2,984 | 1,693 | 5,337 | 3,729 |
Purchase of treasury shares (Note 13) | (2,891) | (1,739) | (5,267) | (3,669) |
Dividends paid | (1,314) | (1,199) | (2,502) | (2,262) |
Redemption of non-controlling interests in subsidiaries (Note 13) | (1,000) | |||
Distributions to non-controlling interests in subsidiaries | (18) | (11) | (36) | |
Net cash from (used in) financing activities | (1,637) | (910) | (3,758) | (3,674) |
Cash flows from (used in) investing activities | ||||
Interest-bearing deposits with banks | 3,218 | 8,506 | 2,267 | 14,798 |
Activities in financial assets at fair value through other comprehensive income (Note 5) | ||||
Purchases | (6,992) | (3,362) | (11,351) | (8,361) |
Proceeds from maturities | 8,269 | 7,682 | 15,854 | 14,120 |
Proceeds from sales | 2,444 | 731 | 4,914 | 1,171 |
Activities in debt securities at amortized cost (Note 5) | ||||
Purchases | (8,593) | (13,166) | (14,570) | (23,844) |
Proceeds from maturities | 5,804 | 6,886 | 11,707 | 9,889 |
Proceeds from sales | 16 | 201 | 1,132 | 201 |
Net purchases of land, buildings, equipment, and other depreciable assets | (292) | (225) | (465) | (151) |
Net cash acquired from (paid for) divestitures and acquisitions (Note 8) | (536) | |||
Net cash from (used in) investing activities | 3,874 | 7,253 | 8,952 | 7,823 |
Effect of exchange rate changes on cash and due from banks | 59 | 102 | 55 | (10) |
Net increase (decrease) in cash and due from banks | 628 | 301 | 274 | 226 |
Cash and due from banks at beginning of period | 4,381 | 3,896 | 4,735 | 3,971 |
Cash and due from banks at end of period | 5,009 | 4,197 | 5,009 | 4,197 |
Supplementary disclosure of cash flows from operating activities | ||||
Amount of income taxes paid (refunded) during the period | 783 | 1,816 | 1,950 | 2,417 |
Amount of interest paid during the period | 4,290 | 3,103 | 8,995 | 6,025 |
Amount of interest received during the period | 9,841 | 8,207 | 19,996 | 16,251 |
Amount of dividends received during the period | 323 | 230 | 679 | 493 |
TD Ameritrade [member] | ||||
Adjustments to determine net cash flows from (used in) operating activities | ||||
Equity in net income of an investment in TD Ameritrade (Note 7) | $ (266) | $ (131) | $ (588) | $ (278) |
IFRS 7 Disclosure
IFRS 7 Disclosure | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
IFRS 7 Disclosure | MARKET RISK Market risk capital is calculated using internal models and comprises three components: (1) Value-at-Risk Calculating VaR TD computes total VaR on a daily basis by combining the General Market Risk (GMR) and Idiosyncratic Debt Specific Risk (IDSR) associated with the Bank's trading positions. GMR is determined by creating a distribution of potential changes in the market value of the current portfolio using historical simulation. The Bank values the current portfolio using the market price and rate changes of the most recent 259 trading days for equity, interest rate, foreign exchange, credit, and commodity products. GMR is computed as the threshold level that portfolio losses are not expected to exceed more than one out of every 100 trading days. A one-day IDSR measures idiosyncratic (single-name) credit spread risk for credit exposures in the trading portfolio using Monte Carlo simulation. The IDSR model is based on the historical behaviour of five-year idiosyncratic credit spreads. Similar to GMR, IDSR is computed as the threshold level that portfolio losses are not expected to exceed more than one out of every 100 trading days. IDSR is measured for a ten-day The following graph discloses daily one-day VaR is a valuable risk measure but it should be used in the context of its limitations, for example: • VaR uses historical data to estimate future events, which limits its forecasting abilities; • it does not provide information on losses beyond the selected confidence level; and • it assumes that all positions can be liquidated during the holding period used for VaR calculation. The Bank continuously improves its VaR methodologies and incorporates new risk measures in line with market conventions, industry best practices, and regulatory requirements. During the second quarter of 2019, TD implemented a modification to improve equity volatility data used in VaR calculations. To mitigate some of the shortcomings of VaR, the Bank uses additional metrics designed for risk management and capital purposes. These include Stressed VaR, IRC, Stress Testing Framework, as well as limits based on the sensitivity to various market risk factors. Calculating Stressed VaR In addition to VaR, the Bank also calculates Stressed VaR, which includes Stressed GMR and Stressed IDSR. Stressed VaR is designed to measure the adverse impact that potential changes in market rates and prices could have on the value of a portfolio over a specified period of stressed market conditions. Stressed VaR is determined using similar techniques and assumptions in GMR and IDSR VaR. However, instead of using the most recent 259 trading days (one year), the Bank uses a selected year of stressed market conditions. In the second quarter of 2019, Stressed VaR was calculated using the one-year one-year Calculating the Incremental Risk Charge The IRC is applied to all instruments in the trading book subject to migration and default risk. Migration risk represents the risk of changes in the credit ratings of the Bank's exposures. TD applies a Monte Carlo simulation with a one-year The following table presents the end of quarter, average, high, and low usage of TD's portfolio metrics. TABLE 28: PORTFOLIO MARKET RISK MEASURES (millions of Canadian dollars) For the three months ended For the six months ended April 30 2019 January 31 April 30 April 30 April 30 As at Average High Low Average Average Average Average Interest rate risk $ 6.7 $ 8.6 $ 13.9 $ 5.4 $ 12.9 $ 17.0 $ 10.8 $ 13.0 Credit spread risk 11.1 12.2 16.6 9.4 19.7 11.4 16.0 10.3 Equity risk 7.0 6.7 9.6 4.6 7.1 8.5 6.9 8.1 Foreign exchange risk 4.3 5.4 9.5 1.7 6.5 4.5 6.0 4.1 Commodity risk 1.4 2.2 3.5 1.4 2.6 2.2 2.4 2.4 Idiosyncratic debt specific risk 14.5 15.1 20.2 13.5 20.2 17.3 17.6 15.7 Diversification effect 1 (25.9 ) (29.2 ) n/m 2 n/m (41.4 ) (35.4 ) (35.4 ) (31.2 ) Total Value-at-Risk (one-day) 19.1 21.0 28.1 16.8 27.6 25.5 24.3 22.4 Stressed Value-at-Risk (one-day) 43.9 43.5 56.8 38.8 60.5 57.7 52.6 48.3 Incremental Risk Capital Charge (one-year) $ 269.7 $ 204.2 $ 269.7 $ 173.1 $ 232.6 $ 205.4 $ 219.5 $ 206.4 1 The aggregate VaR is less than the sum of the VaR of the different risk types due to risk offsets resulting from portfolio diversification. 2 Not meaningful. It is not meaningful to compute a diversification effect because the high and low may occur on different days for different risk types. Average VaR decreased quarter-over-quarter due to decrease in debt specific risk driven by changes in government and financial bonds positions and interest rate risk from U.S. interest rate risk positions. Average Stressed VaR decreased quarter-over-quarter driven by U.S. interest rate risk positions. Average IRC decreased quarter-over-quarter due to positions in Canadian banks and provinces. Validation of VaR Model The Bank uses a back-testing process to compare the actual and theoretical profit and losses to VaR to ensure that they are consistent with the statistical results of the VaR model. The theoretical profit or loss is generated using the daily price movements on the assumption that there is no change in the composition of the portfolio. Validation of the IRC model must follow a different approach since the one-year Interest Rate Risk The following graph shows the Bank's interest rate risk exposure (as measured by Economic Value at Risk (EVaR)) on all non-trading off-balance non-rate The Bank uses derivative financial instruments, wholesale investments, funding instruments, other capital market alternatives, and, less frequently, product pricing strategies to manage interest rate risk. As at April 30, 2019 an immediate and sustained 100 bps increase in interest rates would have decreased the economic value of shareholders' equity by $337 million (January 31, 2019 – $304 million decrease) after-tax. after-tax. The interest risk exposure, or EVaR, in the insurance business is not included in the above graph. Interest rate risk in the insurance business is managed using defined exposure limits and processes, as set and governed by the insurance Board of Directors. The following table shows the sensitivity of the economic value of shareholders' equity (after-tax) TABLE 29: SENSITIVITY OF AFTER-TAX VALUE-AT-RISK (millions of Canadian dollars) As at April 30, 2019 January 31, 2019 April 30, 2018 100 bps 100 bps 100 bps 100 bps 100 bps 100 bps Canadian dollar $ (66 ) $ – $ (58 ) $ 1 $ (37 ) $ (41 ) U.S. dollar (271 ) (274 ) (246 ) (150 ) (251 ) (11 ) $ (337 ) $ (274 ) $ (304 ) $ (149 ) $ (288 ) $ (52 ) Liquidity Risk Liquidity risk is the risk of having insufficient cash or collateral to meet financial obligations and an inability to, in a timely manner, raise funding or monetize assets at a non-distressed TD S LIQUIDITY RISK APPETITE The Bank maintains a prudent and disciplined approach to managing its potential exposure to liquidity risk. The Bank targets a 90-day LIQUIDITY RISK MANAGEMENT RESPONSIBILITY The Bank's Asset/Liability and Capital Committee (ALCO) oversees the Bank's liquidity risk management program. It is designed to ensure there are effective management structures and policies in place to properly measure and manage liquidity risk. The Global Liquidity and Funding Committee, a subcommittee of the ALCO comprised of senior management from Treasury and Balance Sheet Management (TBSM), Risk Management, Finance, and Wholesale Banking, identifies and monitors the Bank's liquidity risks. The management of liquidity risk is the responsibility of the Head of TBSM, while oversight and challenge are provided by the ALCO and independently by Risk Management. The Risk Committee of the Board regularly reviews the Bank's liquidity position and approves the Bank's Liquidity Risk Management Framework bi-annually The Bank's liquidity risk appetite and liquidity risk management approach have not substantially changed from that described in the Bank's 2018 Annual Report. For a complete discussion of liquidity risk, refer to the "Liquidity Risk" section in the Bank's 2018 Annual Report. LIQUID ASSETS The unencumbered liquid assets the Bank holds to meet its liquidity requirements must be high-quality securities that the Bank believes can be monetized quickly in stress conditions with minimum loss in market value. Unencumbered liquid assets are represented in a cumulative liquidity gap framework with adjustments made for estimated market or trading depths, settlement timing, and/or other identified impediments to potential sale or pledging. Overall, the Bank expects any reduction in market value of its liquid asset portfolio to be modest given the underlying high credit and liquidity quality. Assets held by the Bank to meet liquidity requirements are summarized in the following tables. The tables do not include assets held within the Bank's insurance businesses due to investment restrictions. TABLE 30: SUMMARY OF LIQUID ASSETS BY TYPE AND CURRENCY 1 (millions of Canadian dollars, except as noted) As at Bank-owned Securities 2 Total % of Encumbered Unencumbered 2 April 30, 2019 Cash and due from banks $ 4,029 $ – $ 4,029 1 % $ 228 $ 3,801 Canadian government obligations 13,865 74,980 88,845 14 54,585 34,260 National Housing Act Mortgage-Backed Securities (NHA MBS) 41,792 34 41,826 7 3,232 38,594 Provincial government obligations 13,738 23,554 37,292 6 27,644 9,648 Corporate issuer obligations 8,293 3,952 12,245 2 3,659 8,586 Equities 11,290 3,030 14,320 2 10,139 4,181 Other marketable securities and/or loans 3,362 444 3,806 1 513 3,293 Total Canadian dollar-denominated 96,369 105,994 202,363 33 100,000 102,363 Cash and due from banks 24,424 – 24,424 4 32 24,392 U.S. government obligations 30,331 45,037 75,368 12 36,209 39,159 U.S. federal agency obligations, including U.S. federal agency mortgage-backed obligations 49,733 9,650 59,383 10 17,983 41,400 Other sovereign obligations 49,530 39,995 89,525 14 31,738 57,787 Corporate issuer obligations 81,125 2,199 83,324 14 7,030 76,294 Equities 37,944 36,871 74,815 12 38,888 35,927 Other marketable securities and/or loans 4,543 1 4,544 1 530 4,014 Total non-Canadian 277,630 133,753 411,383 67 132,410 278,973 Total $ 373,999 $ 239,747 $ 613,746 100 % $ 232,410 $ 381,336 October 31, 2018 Cash and due from banks $ 3,002 $ – $ 3,002 1 % $ 1,098 $ 1,904 Canadian government obligations 18,256 63,463 81,719 14 47,572 34,147 NHA MBS 39,649 42 39,691 6 3,057 36,634 Provincial government obligations 12,720 19,241 31,961 5 23,651 8,310 Corporate issuer obligations 6,622 3,767 10,389 2 3,769 6,620 Equities 10,554 1,637 12,191 2 6,028 6,163 Other marketable securities and/or loans 2,655 349 3,004 1 277 2,727 Total Canadian dollar-denominated 93,458 88,499 181,957 31 85,452 96,505 Cash and due from banks 24,046 – 24,046 4 28 24,018 U.S. government obligations 30,163 37,691 67,854 12 32,918 34,936 U.S. federal agency obligations, including U.S. federal agency mortgage-backed obligations 47,150 927 48,077 8 7,522 40,555 Other sovereign obligations 56,034 45,912 101,946 18 41,993 59,953 Corporate issuer obligations 78,160 1,576 79,736 14 7,234 72,502 Equities 33,514 37,666 71,180 12 32,206 38,974 Other marketable securities and/or loans 4,786 4 4,790 1 191 4,599 Total non-Canadian 273,853 123,776 397,629 69 122,092 275,537 Total $ 367,311 $ 212,275 $ 579,586 100 % $ 207,544 $ 372,042 1 Positions stated include gross asset values pertaining to secured borrowing/lending and reverse-repurchase/repurchase businesses. 2 Liquid assets include collateral received that can be re-hypothecated Liquid assets are held in The Toronto-Dominion Bank and multiple domestic and foreign subsidiaries and branches and are summarized in the following table. TABLE 31: SUMMARY OF UNENCUMBERED LIQUID ASSETS BY BANK, SUBSIDIARIES, AND BRANCHES (millions of Canadian dollars) As at April 30 2019 October 31 The Toronto-Dominion Bank (Parent) $ 143,442 $ 136,544 Bank subsidiaries 222,088 217,565 Foreign branches 15,806 17,933 Total $ 381,336 $ 372,042 FUNDING The Bank has access to a variety of unsecured and secured funding sources. The Bank's funding activities are conducted in accordance with the liquidity management policy that requires assets be funded to the appropriate term and to a prudent diversification profile. The Bank's primary approach to managing funding activities is to maximize the use of deposits raised through personal and commercial banking channels. The following table illustrates the Bank's large base of personal and commercial, wealth, and TD Ameritrade sweep deposits (collectively, "P&C deposits") that make up over 70% of total funding. TABLE 38: SUMMARY OF DEPOSIT FUNDING (millions of Canadian dollars) As at April 30 2019 October 31 2018 P&C deposits – Canadian Retail $ 370,487 $ 359,473 P&C deposits – U.S. Retail 353,035 346,624 Other deposits 28 36 Total $ 723,550 $ 706,133 The Bank actively maintains various registered external wholesale term (greater than 1 year) funding programs to provide access to diversified funding sources, including asset securitization, covered bonds, and unsecured wholesale debt. The Bank also raises term funding through Canadian Senior Notes, Canadian NHA MBS, Canada Mortgage Bonds, debt issued in Australia, and notes backed by credit card receivables (Evergreen Credit Card Trust). The Bank's wholesale funding is diversified by geography, by currency, and by funding types. The Bank raises short-term (1 year and less) funding using certificates of deposit and commercial paper. The Bank maintains depositor concentration limits against short-term wholesale deposits so that it does not depend on small groups of depositors for funding. The Bank further limits short-term wholesale funding maturity concentration in an effort to mitigate exposures to refinancing risk during a stress event. MATURITY ANALYSIS OF ASSETS, LIABILITIES, AND OFF-BALANCE The following table summarizes on-balance off-balance Off-balance The maturity analysis presented does not depict the degree of the Bank's maturity transformation or the Bank's exposure to interest rate and liquidity risk. The Bank ensures that assets are appropriately funded to protect against borrowing cost volatility and potential reductions to funding market availability. The Bank utilizes stable non-maturity non-trading non-trading TABLE 41: REMAINING CONTRACTUAL MATURITY (millions of Canadian dollars) As at April 30, 2019 Less than 1 to 3 3 to 6 6 to 9 9 months to 1 year Over 1 to Over 2 to Over No specific Total Assets Cash and due from banks $ 5,007 $ 2 $ – $ – $ – $ – $ – $ – $ – $ 5,009 Interest-bearing deposits with banks 27,325 299 385 – – – – – 444 28,453 Trading loans, securities, and other 1 2,517 3,675 2,919 2,392 3,338 9,466 25,282 21,519 61,697 132,805 Non-trading 13 27 467 – 61 1,227 792 878 737 4,202 Derivatives 3,988 6,008 3,097 3,312 1,882 5,890 9,330 10,117 – 43,624 Financial assets designated at fair value through profit or loss 107 141 52 98 111 334 1,769 767 – 3,379 Financial assets at fair value through other comprehensive income 2,078 5,541 4,252 2,927 5,451 20,887 50,072 32,021 1,880 125,109 Debt securities at amortized cost, net of allowance for credit losses 1,599 2,219 4,396 3,391 1,820 5,886 39,035 53,199 (1 ) 111,544 Securities purchased under reverse repurchase agreements 100,567 26,640 14,251 5,243 3,242 6 – – – 149,949 Loans Residential mortgages 1,084 6,540 10,680 8,658 10,025 42,282 112,590 35,399 – 227,258 Consumer instalment and other personal 977 2,192 3,416 3,270 3,838 15,628 57,159 26,956 61,272 174,708 Credit card – – – – – – – – 36,004 36,004 Business and government 27,573 4,640 6,602 7,342 6,489 22,820 71,468 61,667 20,822 229,423 Total loans 29,634 13,372 20,698 19,270 20,352 80,730 241,217 124,022 118,098 667,393 Allowance for loan losses – – – – – – – – (3,778 ) (3,778 ) Loans, net of allowance for loan losses 29,634 13,372 20,698 19,270 20,352 80,730 241,217 124,022 114,320 663,615 Customers' liability under acceptances 13,703 2,340 130 10 6 – – – – 16,189 Investment in TD Ameritrade – – – – – – – – 9,027 9,027 Goodwill 2 – – – – – – – – 17,232 17,232 Other intangibles 2 – – – – – – – – 2,623 2,623 Land, buildings, equipment, and other depreciable assets 2 – – – – – – – – 5,500 5,500 Deferred tax assets – – – – – – – – 2,136 2,136 Amounts receivable from brokers, dealers, and clients 18,954 – – – – – – – – 18,954 Other assets 3,411 916 348 130 2,669 206 226 97 9,235 17,238 Total assets $ 208,903 $ 61,180 $ 50,995 $ 36,773 $ 38,932 $ 124,632 $ 367,723 $ 242,620 $ 224,830 $ 1,356,588 Liabilities Trading deposits $ 9,045 $ 10,551 $ 18,936 $ 6,883 $ 1,123 $ 1,732 $ 4,371 $ 1,333 $ – $ 53,974 Derivatives 4,458 5,896 3,534 3,323 1,810 5,068 7,578 10,532 – 42,199 Securitization liabilities at fair value – 703 272 587 413 1,479 6,993 2,291 – 12,738 Financial liabilities designated at fair value through profit or loss 18,809 15,496 15,286 7,903 284 – – 5 – 57,783 Deposits 3,4 Personal 4,615 7,483 8,992 7,594 7,653 10,521 9,868 30 432,927 489,683 Banks 5,422 1,599 765 1,387 – – 3 7 10,486 19,669 Business and government 5 17,638 21,795 14,680 6,582 6,264 31,181 49,869 5,770 212,212 365,991 Total deposits 27,675 30,877 24,437 15,563 13,917 41,702 59,740 5,807 655,625 875,343 Acceptances 13,703 2,340 130 10 6 – – – – 16,189 Obligations related to securities sold short 1 75 856 1,069 1,000 1,512 6,920 10,666 13,507 760 36,365 Obligations related to securities sold under repurchase agreements 92,452 13,642 1,169 499 40 57 26 – – 107,885 Securitization liabilities at amortized cost – 503 572 511 1,277 1,976 5,911 3,270 – 14,020 Amounts payable to brokers, dealers, and clients 19,323 – – – – – – – – 19,323 Insurance-related liabilities 255 318 334 268 267 928 1,608 916 1,750 6,644 Other liabilities 6 3,905 1,050 1,283 1,120 1,618 3,678 1,125 148 6,332 20,259 Subordinated notes and debentures – – – – – – – 8,968 – 8,968 Equity – – – – – – – – 84,898 84,898 Total liabilities and equity $ 189,700 $ 82,232 $ 67,022 $ 37,667 $ 22,267 $ 63,540 $ 98,018 $ 46,777 $ 749,365 $ 1,356,588 Off-balance Credit and liquidity commitments 7,8 $ 19,270 $ 23,417 $ 17,106 $ 14,662 $ 13,522 $ 26,311 $ 105,994 $ 4,726 $ 1,316 $ 226,324 Operating lease commitments 81 164 245 244 242 928 2,320 3,553 – 7,777 Other purchase obligations 49 116 144 181 178 532 794 738 58 2,790 Unconsolidated structured entity commitments – 1,051 826 – 97 998 – – – 2,972 Total off-balance $ 19,400 $ 24,748 $ 18,321 $ 15,087 $ 14,039 $ 28,769 $ 109,108 $ 9,017 $ 1,374 $ 239,863 1 Amount has been recorded according to the remaining contractual maturity of the underlying security. 2 For the purposes of this table, non-financial 3 As the timing of demand deposits and notice deposits is non-specific 4 Includes $39 billion of covered bonds with remaining contractual maturities of $3 billion in 'over 1 month to 3 months', $2 billion in 'over 3 months to 6 months', $1 billion in 'over 6 months to 9 months', $2 billion in 'over 9 months to 1 year', $6 billion in 'over 1 to 2 years', $23 billion in 'over 2 to 5 years', and $2 billion in 'over 5 years'. 5 On May 9, 2019, TD Capital Trust IV announced its intention to redeem all of the outstanding TD Capital Trust IV Notes – Series 1 on June 30, 2019. 6 Includes $92 million of capital lease commitments with remaining contractual maturities of $2 million in 'less than 1 month', $4 million in '1 month to 3 months', $6 million in '3 months to 6 months', $5 million in '6 months to 9 months', $5 million in '9 months to 1 year', $20 million in 'over 1 to 2 years', $47 million in 'over 2 to 5 years', and $3 million in 'over 5 years'. 7 Includes $316 million in commitments to extend credit to private equity investments. 8 Commitments to extend credit exclude personal lines of credit and credit card lines, which are unconditionally cancellable at the Bank's discretion at any time. TABLE 41: REMAINING CONTRACTUAL MATURITY 1 (millions of Canadian dollars) As at October 31, 2018 Less than 1 to 3 3 to 6 6 to 9 9 months Over 1 to 2 years Over 2 to 5 years Over 5 years No specific Total Assets Cash and due from banks $ 4,733 $ 2 $ – $ – $ – $ – $ – $ – $ – $ 4,735 Interest-bearing deposits with banks 28,332 924 154 21 16 – – – 1,273 30,720 Trading loans, securities, and other 2 1,971 5,244 2,111 3,653 3,998 9,683 25,772 25,895 49,570 127,897 Non-trading – 12 99 460 906 227 841 848 622 4,015 Derivatives 7,343 9,263 5,275 3,276 2,321 7,130 12,436 9,952 – 56,996 Financial assets designated at fair value through profit or loss 30 95 535 243 90 297 1,532 796 – 3,618 Financial assets at fair value through other comprehensive income 1,111 4,214 4,150 5,354 3,962 19,777 57,922 31,936 2,174 130,600 Debt securities at amortized cost, net of allowance for credit losses 881 2,577 3,010 3,594 4,059 8,103 34,032 50,990 (75 ) 107,171 Securities purchased under reverse repurchase agreements 77,612 30,047 14,426 3,807 1,458 29 – – – 127,379 Loans Residential mortgages 908 3,234 6,614 11,166 11,061 43,063 113,852 35,293 – 225,191 Consumer instalment and other personal 753 1,332 2,628 3,724 4,131 14,313 56,632 26,321 62,245 172,079 Credit card – – – – – – – – 35,018 35,018 Business and government 23,052 4,320 5,539 7,131 9,269 19,637 67,922 59,251 21,533 217,654 Total loans 24,713 8,886 14,781 22,021 24,461 77,013 238,406 120,865 118,796 649,942 Allowance for loan losses – – – – – – – – (3,549 ) (3,549 ) Loans, net of allowance for loan losses 24,713 8,886 14,781 22,021 24,461 77,013 238,406 120,865 115,247 646,393 Customers' liability under acceptances 14,984 2,145 132 6 – – – – – 17,267 Investment in TD Ameritrade – – – – – – – – 8,445 8,445 Goodwill 3 – – – – – – – – 16,536 16,536 Other intangibles 3 – – – – – – – – 2,459 2,459 Land, buildings, equipment, and other depreciable assets 3 – – – – – – – – 5,324 5,324 Deferred tax assets – – – – – – – – 2,812 2,812 Amounts receivable from brokers, dealers, and clients 26,940 – – – – – – – – 26,940 Other assets 3,432 854 1,926 120 142 136 301 90 8,595 15,596 Total assets $ 192,082 $ 64,263 $ 46,599 $ 42,555 $ 41,413 $ 122,395 $ 371,242 $ 241,372 $ 212,982 $ 1,334,903 Liabilities Trading deposits $ 16,145 $ 37,337 $ 31,081 $ 12,954 $ 11,739 $ 1,183 $ 3,260 $ 1,005 $ – $ 114,704 Derivatives 6,195 8,684 4,230 3,103 2,263 5,510 9,282 9,003 – 48,270 Securitization liabilities at fair value – 981 194 661 272 1,822 6,719 1,969 – 12,618 Financial liabilities designated at fair value through profit or loss 10 5 – – – – – 1 – 16 Deposits 4,5 Personal 4,330 7,094 7,541 6,245 7,718 10,222 9,876 38 424,580 477,644 Banks 6,499 1,941 255 24 54 – 3 8 7,928 16,712 Business and government 18,840 19,337 7,033 9,984 11,299 21,345 54,780 8,000 206,465 357,083 Total deposits 29,669 28,372 14,829 16,253 19,071 31,567 64,659 8,046 638,973 851,439 Acceptances 14,986 2,145 132 6 – – – – – 17,269 Obligations related to securities sold short 2 2,621 3,679 1,500 387 904 4,330 13,771 11,474 812 39,478 Obligations related to securities sold under repurchase agreements 73,759 15,508 3,516 428 108 43 27 – – 93,389 Securitization liabilities at amortized cost 22 1,240 625 503 575 2,496 6,232 2,990 – 14,683 Amounts payable to brokers, dealers, and clients 28,385 – – – – – – – – 28,385 Insurance-related liabilities 213 294 353 309 310 937 1,624 903 1,755 6,698 Other liabilities 6 2,916 2,631 538 1,326 1,394 2,205 2,308 152 5,704 19,174 Subordinated notes and debentures – – – – – – – 8,740 – 8,740 Equity – – – – – – – – 80,040 80,040 Total liabilities and equity $ 174,921 $ 100,876 $ 56,998 $ 35,930 $ 36,636 $ 50,093 $ 107,882 $ 44,283 $ 727,284 $ 1,334,903 Off-balance Credit and liquidity commitments 7,8 $ 18,341 $ 16,732 $ 17,222 $ 13,105 $ 9,159 $ 25,720 $ 101,210 $ 5,260 $ 1,293 $ 208,042 Operating lease commitments 79 159 240 237 233 902 2,188 3,229 – 7,267 Other purchase obligations 46 163 131 128 127 460 898 524 – 2,477 Unconsolidated structured entity commitments – 1,079 940 329 – 7 408 – – 2,763 Total off-balance $ 18,466 $ 18,133 $ 18,533 $ 13,799 $ 9,519 $ 27,089 $ 104,704 $ 9,013 $ 1,293 $ 220,549 1 Certain comparative amounts have been recast to conform with the presentation adopted in the current period. 2 Amount has been recorded according to the remaining contractual maturity of the underlying security. 3 For the purposes of this table, non-financial 4 As the timing of demand deposits and notice deposits is non-specific 5 Includes $36 billion of covered bonds with remaining contractual maturities of $1 billion in '3 months to 6 months', $3 billion in '6 months to 9 months', $2 billion in '9 months to 1 year', $5 billion in 'over 1 to 2 years', $22 billion in 'over 2 to 5 years', and $3 billion in 'over 5 years'. 6 Includes $60 million of capital lease commitments with remaining contractual maturities of $2 million in 'less than 1 month', $5 million in '1 month to 3 months', $7 million in '3 months to 6 months', $6 million in '6 months to 9 months', $6 million in '9 months to 1 year', $12 million in 'over 1 to 2 years', $17 million in 'over 2 to 5 years', and $5 million in 'over 5 years'. 7 Includes $205 million in commitments to extend credit to private equity investments. 8 Commitments to extend credit exclude personal lines of credit and credit card lines, which are unconditionally cancellable at the Bank's discretion at any time. |
Nature of Operations
Nature of Operations | 6 Months Ended |
Apr. 30, 2019 | |
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Nature of Operations | NOTE 1: NATURE OF OPERATIONS CORPORATE INFORMATION The Toronto-Dominion Bank is a bank chartered under the Bank Act Bank Act BASIS OF PREPARATION The accompanying Interim Consolidated Financial Statements and accounting principles followed by the Bank have been prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB), including the accounting requirements of the Office of the Superintendent of Financial Institutions Canada (OSFI). The Interim Consolidated Financial Statements are presented in Canadian dollars, unless otherwise indicated. These Interim Consolidated Financial Statements were prepared on a condensed basis in accordance with International Accounting Standard 34, Interim Financial Reporting The preparation of the Interim Consolidated Financial Statements requires that management make estimates, assumptions, and judgments regarding the reported amount of assets, liabilities, revenue and expenses, and disclosure of contingent assets and liabilities, as further described in Note 3 of the Bank's 2018 Annual Consolidated Financial Statements and Note 3 of this report. Accordingly, actual results may differ from estimated amounts as future confirming events occur. The Bank's Interim Consolidated Financial Statements have been prepared using uniform accounting policies for like transactions and events in similar circumstances. All intercompany transactions, balances, and unrealized gains and losses on transactions are eliminated on consolidation. The Interim Consolidated Financial Statements for the three and six months ended April 30, 2019, were approved and authorized for issue by the Bank's Board of Directors, in accordance with a recommendation of the Audit Committee, on May 22, 2019. As the Interim Consolidated Financial Statements do not include all of the disclosures normally provided in the Annual Consolidated Financial Statements, it should be read in conjunction with the Bank's 2018 Annual Consolidated Financial Statements and the accompanying Notes, and the shaded sections of the 2018 Management's Discussion and Analysis (MD&A). Certain disclosures are included in the shaded sections of the "Managing Risk" section of the MD&A in this report, as permitted by IFRS, and form an integral part of the Interim Consolidated Financial Statements. The Interim Consolidated Financial Statements were prepared under a historical cost basis, except for certain items carried at fair value as discussed in Note 2 of the Bank's 2018 Annual Consolidated Financial Statements. |
Current and Future Changes in A
Current and Future Changes in Accounting Policies | 6 Months Ended |
Apr. 30, 2019 | |
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Current and Future Changes in Accounting Policies | NOTE 2: CURRENT AND FUTURE CHANGES IN ACCOUNTING POLICIES CURRENT CHANGES IN ACCOUNTING POLICY The following new standards have been adopted by the Bank on November 1, 2018. Revenue from Contracts with Customers On November 1, 2018, the Bank adopted IFRS 15, Revenue from Contracts with Customers The adoption of IFRS 15 resulted in a reduction to Shareholders' Equity of $41 million related to certain expenses not eligible for deferral under IFRS 15. The presentation of certain revenue and expense items is changed due to IFRS 15 and reclassified prospectively. These presentation changes are not significant and do not have an impact on net income. In addition to the above changes related to the adoption of IFRS 15, the Bank also changed its accounting policy on securities lending and borrowing transactions. Where securities are received or pledged as collateral, securities lending income and securities borrowing fees are recorded in Non-interest Non-interest Revenue Recognition Revenue is recognized at an amount that reflects the consideration the Bank expects to be entitled to in exchange for transferring services to a customer, excluding amounts collected on behalf of third parties. The Bank recognizes revenue when it transfers control of a good or a service to a customer at a point in time or over time. The determination of when performance obligations are satisfied requires the use of judgment. Refer to Note 3 for further details. The Bank identifies contracts with customers subject to IFRS 15, which create enforceable rights and obligations. The Bank determines the performance obligations based on distinct services promised to the customers in the contracts. The Bank's contracts generally have a term of one year or less, consist of a single performance obligation, and the performance obligations generally reflect services. For each contract, the Bank determines the transaction price, which includes estimating variable consideration and assessing whether the price is constrained. Variable consideration is included in the transaction price to the extent that it is highly probable that a significant reversal of the amount will not occur when the uncertainty associated with the amount of variable consideration is subsequently resolved. As such, the estimate of the variable consideration is constrained until the end of the invoicing period. The uncertainty is generally resolved at the end of the reporting period and as such, no significant judgment is required when recognizing variable consideration in revenues. The Bank's receipt of payment from customers generally occurs subsequent to the satisfaction of performance obligations or a short time thereafter. As such, the Bank has not recognized any material contract assets (unbilled receivables) or contract liabilities (deferred revenues) and there is no significant financing component associated with the consideration due to the Bank. When another party is involved in the transfer of services to a customer, an assessment is made to evaluate whether the Bank is the principal such that revenues are reported on a gross basis or the agent such that revenues are reported on a net basis. The Bank is the principal when it controls the services in the contract promised to the customer before they are transferred. Control is demonstrated by the Bank being primarily responsible for fulfilling the transfer of the services to the customer, having discretion in establishing pricing of the services, or both. Refer to Note 2 of the Bank's 2018 Annual Consolidated Financial Statements for additional revenue policy disclosures. Share-based Payment In June 2016, the IASB published amendments to IFRS 2, Share-based Payment FUTURE CHANGES IN ACCOUNTING POLICIES The following standards have been issued, but are not yet effective on the date of issuance of the Bank's Interim Consolidated Financial Statements. The Bank is currently assessing the impact of the application of these standards on the Interim Consolidated Financial Statements and will adopt these standards when they become effective. Leases In January 2016, the IASB issued IFRS 16, Leases Leases right-of-use right-of-use low-value Insurance Contracts In May 2017, the IASB issued IFRS 17, Insurance Contracts Insurance Contracts Conceptual Framework for Financial Reporting In March 2018, the IASB issued the revised Conceptual Framework for Financial Reporting (Revised Conceptual Framework), which provides a set of concepts to assist the IASB in developing standards and to help preparers consistently apply accounting policies where specific accounting standards do not exist. The framework is not an accounting standard and does not override the requirements that exist in other IFRS standards. The Revised Conceptual Framework describes that financial information must be relevant and faithfully represented to be useful, provides revised definitions and recognition criteria for assets and liabilities, and confirms that different measurement bases are useful and permitted. The Revised Conceptual Framework is effective for annual periods beginning on or after January 1, 2020, which will be November 1, 2020 for the Bank, with early adoption permitted. The Bank is currently assessing the impact of adopting the revised framework. Business Combinations In October 2018, the IASB issued a narrow-scope amendment to IFRS 3, Business Combinations Presentation of Financial Statements and Accounting Policies, Changes in Accounting Estimates and Errors In October 2018, the IASB issued amendments to IAS 1, Presentation of Financial Statements Accounting Policies, Changes in Accounting Estimates and Errors |
Significant Accounting Judgment
Significant Accounting Judgments, Estimates, and Assumptions | 6 Months Ended |
Apr. 30, 2019 | |
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Significant Accounting Judgments, Estimates, and Assumptions | NOTE 3: SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES, AND ASSUMPTIONS The estimates used in the Bank's accounting policies are essential to understanding its results of operations and financial condition. Some of the Bank's policies require subjective, complex judgments and estimates as they relate to matters that are inherently uncertain. Changes in these judgments or estimates and changes to accounting standards and policies could have a materially adverse impact on the Bank's Interim Consolidated Financial Statements. The Bank has established procedures to ensure that accounting policies are applied consistently and that the processes for changing methodologies, determining estimates, and adopting new accounting standards are well-controlled and occur in an appropriate and systematic manner. Refer to Note 3 of the Bank's 2018 Annual Consolidated Financial Statements for a description of significant accounting judgments, estimates, and assumptions, in addition to those described below. Revenue from Contracts with Customers The Bank applies judgment to determine the timing of satisfaction of performance obligations which affects the timing of revenue recognition, by evaluating the pattern in which the Bank transfers control of services promised to the customer. A performance obligation is satisfied over time when the customer simultaneously receives and consumes the benefits as the Bank performs the service. For performance obligations satisfied over time, revenue is generally recognized using the time-elapsed method which is based on time elapsed in proportion to the period over which the service is provided, for example, personal deposit account bundle fees. The time-elapsed method is a faithful depiction of the transfer of control for these services as control is transferred evenly to the customer when the Bank provides a stand-ready service or effort is expended evenly by the Bank to provide a service over the contract period. In contracts where the Bank has a right to consideration from a customer in an amount that corresponds directly with the value to the customer of the Bank's performance completed to date, the Bank recognizes revenue in the amount to which it has a right to invoice. The Bank satisfies a performance obligation at a point in time if the customer obtains control of the promised services at that date. Determining when control is transferred requires the use of judgment. For transaction-based services, the Bank determines that control is transferred to the customer at a point in time when the customer obtains substantially all of the benefits from the service rendered and the Bank has a present right to payment, which generally coincides with the moment the transaction is executed. The Bank exercises judgment in determining whether costs incurred in connection with acquiring new revenue contracts would meet the requirement to be capitalized as incremental costs to obtain or fulfil a contract with customers. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Apr. 30, 2019 | |
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Fair Value Measurements | NOTE 4: FAIR VALUE MEASUREMENTS There have been no significant changes to the Bank's approach and methodologies used to determine fair value measurements during the three and six months ended April 30, 2019. Refer to Note 5 of the Bank's 2018 Annual Consolidated Financial Statements for a description of the valuation techniques and inputs used in the fair value measurement of the Bank's financial instruments. Carrying Value and Fair Value of Financial Instruments not carried at Fair Value The fair values in the following table exclude assets that are not financial instruments, such as land, buildings, and equipment, as well as goodwill and other intangible assets, including customer relationships, which are of significant value to the Bank. Financial Assets and Liabilities not carried at Fair Value 1 (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Carrying Fair value Carrying Fair value FINANCIAL ASSETS Debt securities at amortized cost, net of allowance for credit losses Government and government-related securities $ 63,183 $ 63,073 $ 60,535 $ 59,948 Other debt securities 48,361 48,286 46,636 46,316 Total debt securities at amortized cost, net of allowance for credit losses 111,544 111,359 107,171 106,264 Total loans, net of allowance for loan losses 663,615 665,018 646,393 642,542 Total financial assets not carried at fair value $ 775,159 $ 776,377 $ 753,564 $ 748,806 FINANCIAL LIABILITIES Deposits $ 875,343 $ 875,840 $ 851,439 $ 846,148 Securitization liabilities at amortized cost 14,020 14,147 14,683 14,654 Subordinated notes and debentures 8,968 9,478 8,740 9,027 Total financial liabilities not carried at fair value $ 898,331 $ 899,465 $ 874,862 $ 869,829 1 This table excludes financial assets and liabilities where the carrying amount is a reasonable approximation of fair value. Fair Value Hierarchy and Valuation of Assets and Liabilities Classified as Level 3 IFRS requires disclosure of a three-level hierarchy for fair value measurements based upon the observability of inputs to the valuation of an asset or liability as of the measurement date. Refer to Note 5 of the Bank's 2018 Annual Consolidated Financial Statements for a description of the three levels. There have been no significant changes to the valuation techniques, unobservable inputs, and sensitivities during the three and six months ended April 30, 2019. The significant valuation techniques and significant unobservable inputs used in the fair value measurements of Level 3 financial assets and financial liabilities are described and quantified within the "Valuation of Assets and Liabilities Classified as Level 3" section in Note 5 of the Bank's 2018 Annual Consolidated Financial Statements. The following table presents the levels within the fair value hierarchy for each of the assets and liabilities measured at fair value on a recurring basis as at April 30, 2019 and October 31, 2018. Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Level 1 Level 2 Level 3 Total 1 Level 1 Level 2 Level 3 Total 1 FINANCIAL ASSETS AND COMMODITIES Trading loans, securities, and other 2 Government and government-related securities Canadian government debt Federal $ 786 $ 9,127 $ – $ 9,913 $ 127 $ 14,335 $ – $ 14,462 Provinces – 7,865 46 7,911 – 7,535 3 7,538 U.S. federal, state, municipal governments, and agencies debt – 16,050 – 16,050 – 19,732 – 19,732 Other OECD government guaranteed debt – 4,149 – 4,149 – 3,324 – 3,324 Mortgage-backed securities – 2,054 – 2,054 – 2,029 – 2,029 Other debt securities Canadian issuers – 5,973 2 5,975 – 5,630 1 5,631 Other issuers – 13,578 18 13,596 – 14,459 16 14,475 Equity securities Common shares 49,784 131 – 49,915 43,699 53 – 43,752 Preferred shares 57 – – 57 33 26 – 59 Trading loans – 11,335 – 11,335 – 10,990 – 10,990 Commodities 11,549 279 – 11,828 5,540 340 – 5,880 Retained interests – 22 – 22 – 25 – 25 62,176 70,563 66 132,805 49,399 78,478 20 127,897 Non-trading Securities 190 2,567 447 3,204 176 2,095 408 2,679 Loans – 978 20 998 – 1,317 19 1,336 190 3,545 467 4,202 176 3,412 427 4,015 Derivatives Interest rate contracts 31 11,775 – 11,806 33 12,365 – 12,398 Foreign exchange contracts 41 28,753 6 28,800 24 39,647 4 39,675 Credit contracts – 14 – 14 – 9 – 9 Equity contracts – 1,305 525 1,830 – 3,170 453 3,623 Commodity contracts 127 1,019 28 1,174 144 1,112 35 1,291 199 42,866 559 43,624 201 56,303 492 56,996 Financial assets designated at fair value through profit or loss Securities 2 – 3,379 – 3,379 – 3,618 – 3,618 – 3,379 – 3,379 – 3,618 – 3,618 Financial assets at fair value through other comprehensive income Government and government-related securities Canadian government debt Federal – 11,009 – 11,009 – 12,731 – 12,731 Provinces – 11,763 – 11,763 – 9,507 – 9,507 U.S. federal, state, municipal governments, and agencies debt – 45,252 – 45,252 – 45,766 – 45,766 Other OECD government guaranteed debt – 18,177 – 18,177 – 19,896 200 20,096 Mortgage-backed securities – 6,096 – 6,096 – 6,633 – 6,633 Other debt securities Asset-backed securities – 20,036 – 20,036 – 21,407 562 21,969 Non-agency – 311 – 311 – 472 – 472 Corporate and other debt – 8,245 23 8,268 – 8,483 24 8,507 Equity securities Common shares 84 2 1,532 1,618 309 3 1,492 1,804 Preferred shares 208 3 50 261 235 – 135 370 Loans – 2,318 – 2,318 – 2,745 – 2,745 292 123,212 1,605 125,109 544 127,643 2,413 130,600 Securities purchased under reverse repurchase agreements – 4,796 – 4,796 – 3,920 – 3,920 FINANCIAL LIABILITIES Trading deposits – 50,295 3,679 53,974 – 111,680 3,024 114,704 Derivatives Interest rate contracts 28 10,420 77 10,525 24 9,646 63 9,733 Foreign exchange contracts 29 26,121 8 26,158 18 34,897 3 34,918 Credit contracts – 418 – 418 – 386 – 386 Equity contracts – 2,794 1,350 4,144 – 1,319 1,077 2,396 Commodity contracts 113 828 13 954 134 695 8 837 170 40,581 1,448 42,199 176 46,943 1,151 48,270 Securitization liabilities at fair value – 12,738 – 12,738 – 12,618 – 12,618 Financial liabilities designated at fair value through profit or loss – 57,770 13 57,783 – 2 14 16 Obligations related to securities sold short 2 787 35,578 – 36,365 1,142 38,336 – 39,478 Obligations related to securities sold under repurchase agreements – 1,893 – 1,893 – 3,797 – 3,797 1 Fair value is the same as carrying value. 2 Balances reflect the reduction of securities owned (long positions) by the amount of identical securities sold but not yet purchased (short positions). The Bank's policy is to record transfers of assets and liabilities between the different levels of the fair value hierarchy using the fair values as at the end of each reporting period. Assets are transferred between Level 1 and Level 2 depending on if there is sufficient frequency and volume in an active market. There were no significant transfers between Level 1 and Level 2 during the three and six months ended April 30, 2019 and April 30, 2018. Movements of Level 3 instruments Significant transfers into and out of Level 3 occur mainly due to the following reasons: • Transfers from Level 3 to Level 2 occur when techniques used for valuing the instrument incorporate significant observable market inputs or broker-dealer quotes which were previously not observable. • Transfers from Level 2 to Level 3 occur when an instrument's fair value, which was previously determined using valuation techniques with significant observable market inputs, is now determined using valuation techniques with significant non-observable Due to the unobservable nature of the inputs used to value Level 3 financial instruments there may be uncertainty about the valuation of these instruments. The fair value of Level 3 instruments may be drawn from a range of reasonably possible alternatives. In determining the appropriate levels for these unobservable inputs, parameters are chosen so that they are consistent with prevailing market evidence and management judgment. The following tables reconcile changes in fair value of all assets and liabilities measured at fair value using significant Level 3 non-observable Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (millions of Canadian dollars) Fair Total realized and Movements Transfers Fair value as at Change in 5 Included 1 Included 2 , 3 Purchases Issuances Other 4 Into Out of FINANCIAL ASSETS Trading loans, securities, and other Government and government- related securities Canadian government debt Provinces $ – $ (1 ) $ – $ – $ – $ – $ 47 $ – $ 46 $ (1 ) Other debt securities Canadian issuers 1 – – – – – 1 – 2 – Other issuers 9 – – – – (9 ) 18 – 18 – 10 (1 ) – – – (9 ) 66 – 66 (1 ) Non-trading Securities 495 56 1 65 – (170 ) – – 447 5 Loans 21 – – – – (1 ) – – 20 – 516 56 1 65 – (171 ) – – 467 5 Financial assets at fair value through other comprehensive income Government and government- related securities Other OECD government guaranteed debt 210 14 – – – (224 ) – – – – Other debt securities Asset-backed securities 559 – – – – – – (559 ) – – Corporate and other debt 23 – – – – – – – 23 – Equity securities Common shares 1,495 – (1 ) 14 – 24 – – 1,532 (1 ) Preferred shares 57 – (8 ) 1 – – – – 50 (9 ) $ 2,344 $ 14 $ (9 ) $ 15 $ – $ (200 ) $ – $ (559 ) $ 1,605 $ (10 ) Fair February 1 2019 Total realized and Movements Transfers Fair April 30 Change in 5 Included 1 Included 3 Purchases Issuances Other 4 Into Out of FINANCIAL LIABILITIES Trading deposits 6 $ 3,465 $ 188 $ – $ (315 ) $ 397 $ (56 ) $ – $ – $ 3,679 $ 189 Derivatives 7 Interest rate contracts 64 12 – – – 1 – – 77 11 Foreign exchange contracts (2 ) – – – – – 4 – 2 – Equity contracts 699 190 – (21 ) 58 (101 ) – – 825 179 Commodity contracts 8 (34 ) – – – 11 – – (15 ) (23 ) 769 168 – (21 ) 58 (89 ) 4 – 889 167 Financial liabilities designated at fair value through profit or loss 3 (18 ) – – 32 (4 ) – – 13 (14 ) Obligations related to securities sold short – – – – – – – – – – 1 Gains (losses) on financial assets and liabilities are recognized in Net securities gains (losses), Trading income (loss), and Other income (loss) on the Interim Consolidated Statement of Income. 2 Other comprehensive income. 3 Includes realized gains (losses) transferred to retained earnings on disposal of equities designated at fair value through other comprehensive income (FVOCI). Refer to Note 5 for further details. 4 Consists of sales, settlements, and foreign exchange. 5 Changes in unrealized gains (losses) on financial assets at FVOCI are recognized in accumulated other comprehensive income (AOCI). 6 Issuances and repurchases of trading deposits are reported on a gross basis. 7 As at April 30, 2019, consists of derivative assets of $0.6 billion (February 1, 2019 – $0.5 billion) and derivative liabilities of $1.5 billion (February 1, 2019 – $1.3 billion), which have been netted on this table for presentation purposes only. Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (millions of Canadian dollars) Fair Total realized and Movements Transfers Fair value as at Change in 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL ASSETS Trading loans, securities, and other Government and government- related securities Canadian government debt Provinces $ 3 $ (1 ) $ – $ – $ – $ (3 ) $ 47 $ – $ 46 $ (1 ) Other debt securities Canadian issuers 1 – – – – – 1 – 2 – Other issuers 16 1 – – – (17 ) 19 (1 ) 18 – 20 – – – – (20 ) 67 (1 ) 66 (1 ) Non-trading Securities 408 58 2 136 – (178 ) 21 – 447 6 Loans 19 1 – 1 – (1 ) – – 20 1 427 59 2 137 – (179 ) 21 – 467 7 Financial assets at fair value through other comprehensive income Government and government-related Other OECD government guaranteed debt 200 24 – – – (224 ) – – – – Other debt securities Asset-backed securities 562 – – – – – – (562 ) – – Corporate and other debt 24 – (1 ) – – – – – 23 (1 ) Equity securities Common shares 1,492 – – 19 – 21 – – 1,532 (1 ) Preferred shares 135 – (11 ) 1 – (74 ) – (1 ) 50 (17 ) $ 2,413 $ 24 $ (12 ) $ 20 $ – $ (277 ) $ – $ (563 ) $ 1,605 $ (19 ) Fair Total realized and Movements Transfers Fair Change in 5 Included 1 Included 2 Purchases Issuances Other 4 Into Out of FINANCIAL LIABILITIES Trading deposits 5 $ 3,024 $ 287 $ – $ (391 ) $ 769 $ (10 ) $ – $ – $ 3,679 $ 255 Derivatives 6 Interest rate contracts 63 16 – – – (2 ) – – 77 15 Foreign exchange contracts (1 ) 1 – – – (2 ) 4 – 2 – Equity contracts 624 295 – (40 ) 115 (169 ) – – 825 281 Commodity contracts (27 ) 4 – – – 8 – – (15 ) (3 ) 659 316 – (40 ) 115 (165 ) 4 – 889 293 Financial liabilities designated at fair value through profit or loss 14 (40 ) – – 49 (10 ) – – 13 (30 ) Obligations related to securities sold short – – – – – – – – – – 1 Gains (losses) on financial assets and liabilities are recognized in Net securities gains (losses), Trading income (loss), and Other income (loss) on the Interim Consolidated Statement of Income. 2 Includes realized gains (losses) transferred to retained earnings on disposal of equities designated at FVOCI. Refer to Note 5 for further details. 3 Consists of sales, settlements, and foreign exchange. 4 Changes in unrealized gains (losses) on financial assets at FVOCI are recognized in AOCI. 5 Issuances and repurchases of trading deposits are reported on a gross basis. 6 As at April 30, 2019, consists of derivative assets of $0.6 billion (November 1, 2018 – $0.5 billion) and derivative liabilities of $1.5 billion (November 1, 2018 – $1.2 billion), which have been netted on this table for presentation purposes only. Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (millions of Canadian dollars) Fair Total realized and Movements Transfers Fair value as at Change in 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL ASSETS Trading loans, securities, and other Government and government- related securities Canadian government debt Provinces $ – $ – $ – $ – $ – $ – $ – $ – $ – $ – Other debt securities Canadian issuers 1 – – – – – – – 1 – Other issuers 121 (1 ) – – – 5 24 – 149 4 122 (1 ) – – – 5 24 – 150 4 Non-trading Securities 324 11 – 13 – 8 – – 356 11 Loans 18 1 – – – – – – 19 1 342 12 – 13 – 8 – – 375 12 Financial assets at fair value through other comprehensive income Government and government- related securities Other OECD government guaranteed debt 193 11 – – – – – – 204 (3 ) Other debt securities Asset-backed securities 529 – (3 ) – – 23 – – 549 (3 ) Corporate and other debt 99 3 1 – – – – – 103 1 Equity securities Common shares 1,404 – (3 ) 1 – 53 – – 1,455 (2 ) Preferred shares 116 – 13 – – 1 – – 130 13 $ 2,341 $ 14 $ 8 $ 1 $ – $ 77 $ – $ – $ 2,441 $ 6 Fair Total realized and Movements Transfers Fair Change in 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL LIABILITIES Trading deposits 5 $ 2,875 $ (40 ) $ – $ (69 ) $ 463 $ (285 ) $ 4 $ (8 ) $ 2,940 $ (20 ) Derivatives 6 Interest rate contracts 51 17 – – – 1 – – 69 20 Foreign exchange contracts (1 ) 1 – – – (1 ) – – (1 ) – Equity contracts 842 (62 ) – (28 ) 64 (105 ) – – 711 (73 ) Commodity contracts (8 ) (18 ) – – – 3 – – (23 ) (17 ) 884 (62 ) – (28 ) 64 (102 ) – – 756 (70 ) Financial liabilities designated at fair value through profit or loss 29 (13 ) – – 34 (34 ) – – 16 (14 ) Obligations related to securities sold short – – – – – – 4 – 4 – 1 Gains (losses) on financial assets and liabilities are recognized in Net securities gains (losses), Trading income (loss), and Other income (loss) on the Interim Consolidated Statement of Income. 2 Includes realized gains (losses) transferred to retained earnings on disposal of equities designated at FVOCI. Refer to Note 5 for further details. 3 Consists of sales, settlements, and foreign exchange. 4 Changes in unrealized gains (losses) on financial assets at FVOCI are recognized in AOCI. 5 Issuances and repurchases of trading deposits are reported on a gross basis. 6 As at April 30, 2018, consists of derivative assets of $0.7 billion (February 1, 2018 – $0.9 billion) and derivative liabilities of $1.4 billion (February 1, 2018 – $1.8 billion), which have been netted on this table for presentation purposes only. Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (millions of Canadian dollars) Fair value as at November 1 Total realized and unrealized gains (losses) Movements Transfers Fair value as at April 30 2018 Change in unrealized gains (losses) on instruments 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL ASSETS Trading loans, securities, and other Government and government- related securities Canadian government debt $ – $ – $ – $ – $ – $ – $ – $ – $ – $ – Other debt securities Canadian issuers 6 – – – – (4 ) 1 (2 ) 1 – Other issuers 8 (1 ) – 2 – 4 145 (9 ) 149 4 14 (1 ) – 2 – – 146 (11 ) 150 4 Non-trading Securities 305 27 – 26 – (2 ) – – 356 23 Loans 15 (2 ) – 2 – – 4 – 19 (2 ) 320 25 – 28 – (2 ) 4 – 375 21 Financial assets at fair value through other comprehensive income Government and government- related securities Other OECD government guaranteed debt 203 4 (3 ) – – – – – 204 (3 ) Other debt securities Asset-backed securities 553 – (1 ) – – (3 ) – – 549 (1 ) Corporate and other debt 95 4 6 – – (2 ) – – 103 6 Equity securities Common shares 1,469 – (2 ) 7 – (19 ) – – 1,455 (4 ) Preferred shares 108 – 21 – – 1 – – 130 21 $ 2,428 $ 8 $ 21 $ 7 $ – $ (23 ) $ – $ – $ 2,441 $ 19 Fair value as at November 1 Total realized and unrealized losses (gains) Movements Transfers Fair value as at April 30 2018 Change in unrealized losses instruments 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL LIABILITIES Trading deposits 5 $ 2,521 $ (7 ) $ – $ (210 ) $ 1,099 $ (449 ) $ 4 $ (18 ) $ 2,940 $ (28 ) Derivatives 6 Interest rate contracts 70 – – – – (1 ) – – 69 1 Foreign exchange contracts (1 ) – – – – – – – (1 ) – Equity contracts 893 (70 ) – (47 ) 102 (169 ) – 2 711 (74 ) Commodity contracts (2 ) (25 ) – – – 4 – – (23 ) (21 ) 960 (95 ) – (47 ) 102 (166 ) – 2 756 (94 ) Financial liabilities designated at fair value through profit or loss 7 19 – – 59 (69 ) – – 16 12 Obligations related to securities sold short – – – – – – 4 – 4 – 1 Gains (losses) on financial assets and liabilities are recognized in Net securities gains (losses), Trading income (loss), and Other income (loss) on the Interim Consolidated Statement of Income. 2 Includes realized gains (losses) transferred to retained earnings on disposal of equities designated at FVOCI. Refer to Note 5 for further details. 3 Consists of sales, settlements, and foreign exchange. 4 Changes in unrealized gains (losses) on financial assets at FVOCI are recognized in AOCI. 5 Issuances and repurchases of trading deposits are reported on a gross basis. 6 As at April 30, 2018, consists of derivative assets of $0.7 billion (November 1, 2017 – $0.9 billion) and derivative liabilities of $1.4 billion (November 1, 2017 – $1.9 billion), which have been netted on this table for presentation purposes only. |
Securities
Securities | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Securities | NOTE 5: SECURITIES Unrealized Securities Gains (Losses) The following table summarizes the unrealized gains and losses as at April 30, 2019 and October 31, 2018. Unrealized Gains (Losses) for Securities at Fair Value Through Other Comprehensive Income (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Cost/ 1 Gross Gross Fair Cost/ 1 Gross Gross Fair value Securities at Fair Value Through Other Comprehensive Income Government and government-related securities Canadian government debt Federal $ 10,978 $ 34 $ (3 ) $ 11,009 $ 12,740 $ 38 $ (47 ) $ 12,731 Provinces 11,705 78 (20 ) 11,763 9,443 75 (11 ) 9,507 U.S. federal, state, municipal governments, and agencies debt 45,226 156 (130 ) 45,252 45,857 265 (356 ) 45,766 Other OECD government guaranteed debt 18,131 50 (4 ) 18,177 20,034 65 (3 ) 20,096 Mortgage-backed securities 6,051 45 – 6,096 6,575 59 (1 ) 6,633 92,091 363 (157 ) 92,297 94,649 502 (418 ) 94,733 Other debt securities Asset-backed securities 20,000 61 (25 ) 20,036 21,901 87 (19 ) 21,969 Non-agency 311 – – 311 471 1 – 472 Corporate and other debt 8,257 36 (25 ) 8,268 8,534 31 (58 ) 8,507 28,568 97 (50 ) 28,615 30,906 119 (77 ) 30,948 Total debt securities 120,659 460 (207 ) 120,912 125,555 621 (495 ) 125,681 Equity securities Common shares 1,616 30 (28 ) 1,618 1,725 118 (39 ) 1,804 Preferred shares 305 5 (49 ) 261 376 20 (26 ) 370 1,921 35 (77 ) 1,879 2,101 138 (65 ) 2,174 Total securities at fair value through other comprehensive income $ 122,580 $ 495 $ (284 ) $ 122,791 $ 127,656 $ 759 $ (560 ) $ 127,855 1 Includes the foreign exchange translation of amortized cost balances at the period-end Equity Securities Designated at Fair Value Through Other Comprehensive Income The Bank designated certain equity securities shown in the following table as equity securities at FVOCI. The designation was made because the investments are held for purposes other than trading. Equity Securities Designated at Fair Value Through Other Comprehensive Income (millions of Canadian dollars) As at For the three months ended For the six months ended April 30, 2019 October 31, 2018 April 30, 2019 April 30, 2018 April 30, 2019 April 30, 2018 Fair value Dividend income recognized Dividend income recognized Common shares $ 1,618 $ 1,804 $ 20 $ 17 $ 40 $ 33 Preferred shares 261 370 3 4 7 8 Total $ 1,879 $ 2,174 $ 23 $ 21 $ 47 $ 41 The Bank disposed of certain equity securities in line with the Bank's investment strategy with a fair value of $133 million and $312 million during the three and six months ended April 30, 2019, respectively (three and six months ended April 30, 2018 – $10 million and $14 million, respectively). The Bank realized a cumulative gain of $44 million and $68 million during the three and six months ended April 30, 2019, respectively (three and six months ended April 30, 2018 – nil and $2 million, respectively) on disposal of these equity securities and recognized dividend income of $1 million and $3 million during the three and six months ended April 30, 2019, respectively (three and six months ended April 30, 2018 – nil). Net Securities Gains (Losses) (millions of Canadian dollars) For the three months ended For the six months ended April 30 April 30 April 30 April 30 Debt securities at amortized cost Net realized gains (losses) $ – $ 30 $ 44 $ 30 Debt securities at fair value through other comprehensive income Net realized gains (losses) 35 3 (20 ) 6 Total $ 35 $ 33 $ 24 $ 36 Credit Quality of Debt Securities The Bank evaluates non-retail non-retail The following table provides the gross carrying amounts of debt securities measured at amortized cost and debt securities at FVOCI by internal risk ratings for credit risk management purposes, presenting separately those debt securities that are subject to Stage 1, Stage 2, and Stage 3 allowances. Debt Securities by Risk Ratings (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Debt securities Investment grade $ 230,279 $ – $ n/a $ 230,279 $ 230,488 $ – $ n/a $ 230,488 Non-Investment 2,138 40 n/a 2,178 2,140 54 n/a 2,194 Watch and classified n/a – n/a – n/a 11 n/a 11 Default n/a n/a – – n/a n/a 234 234 Total debt securities 232,417 40 – 232,457 232,628 65 234 232,927 Allowance for credit losses on debt securities at amortized cost 1 – – 1 1 4 70 75 Debt securities, net of allowance $ 232,416 $ 40 $ – $ 232,456 $ 232,627 $ 61 $ 164 $ 232,852 As at April 30, 2019, the allowance for credit losses on debt securities was $4 million (October 31, 2018 – $80 million), comprising of $1 million (October 31, 2018 – $75 million) for debt securities at amortized cost (DSAC) and $3 million (October 31, 2018 – $5 million) for debt securities at FVOCI. For the three and six months ended April 30, 2019, the Bank reported a provision for credit losses of nil (three and six months ended April 30, 2018 – recovery of credit losses of $2 million) on DSAC. For the three and six months ended April 30, 2019, the Bank reported a recovery of credit losses of $2 million (three and six months ended April 30, 2018 – provision for credit losses of $16 million and $20 million, respectively) on debt securities at FVOCI. |
Loans, Impaired Loans, and Allo
Loans, Impaired Loans, and Allowance for Credit Losses | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Loans, Impaired Loans, and Allowance for Credit Losses | NOTE 6: LOANS, IMPAIRED LOANS, AND ALLOWANCE FOR CREDIT LOSSES The following tables provide the gross carrying amounts of loans and credit risk exposures on loan commitments and financial guarantee contracts by internal risk ratings for credit risk management purposes, presenting separately those that are subject to Stage 1, Stage 2, and Stage 3 allowances. Loans by Risk Ratings (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Residential mortgages 1,2,3 Low Risk $ 174,308 $ 55 $ n/a $ 174,363 $ 168,690 $ 32 $ n/a $ 168,722 Normal Risk 42,707 240 n/a 42,947 47,821 176 n/a 47,997 Medium Risk 6,156 484 n/a 6,640 5,106 267 n/a 5,373 High Risk 984 1,393 304 2,681 892 1,264 317 2,473 Default n/a n/a 415 415 n/a n/a 392 392 Total 224,155 2,172 719 227,046 222,509 1,739 709 224,957 Allowance for loan losses 27 32 47 106 24 34 47 105 Loans, net of allowance 224,128 2,140 672 226,940 222,485 1,705 662 224,852 Consumer instalment and other personal 4 Low Risk 91,848 995 n/a 92,843 87,906 983 n/a 88,889 Normal Risk 43,448 1,035 n/a 44,483 48,008 1,190 n/a 49,198 Medium Risk 25,812 1,020 n/a 26,832 23,008 1,063 n/a 24,071 High Risk 7,016 2,403 576 9,995 6,158 2,386 817 9,361 Default n/a n/a 516 516 n/a n/a 514 514 Total 168,124 5,453 1,092 174,669 165,080 5,622 1,331 172,033 Allowance for loan losses 621 357 179 1,157 574 349 178 1,101 Loans, net of allowance 167,503 5,096 913 173,512 164,506 5,273 1,153 170,932 Credit card Low Risk 7,033 15 n/a 7,048 7,234 11 n/a 7,245 Normal Risk 9,987 82 n/a 10,069 9,780 66 n/a 9,846 Medium Risk 11,791 305 n/a 12,096 11,347 246 n/a 11,593 High Risk 4,769 1,566 334 6,669 4,435 1,445 333 6,213 Default n/a n/a 122 122 n/a n/a 121 121 Total 33,580 1,968 456 36,004 32,796 1,768 454 35,018 Allowance for loan losses 400 309 382 1,091 379 283 341 1,003 Loans, net of allowance 33,180 1,659 74 34,913 32,417 1,485 113 34,015 Business and government 1,2,3,5 Investment grade or Low/Normal Risk 119,732 47 n/a 119,779 118,414 57 n/a 118,471 Non-Investment 116,478 5,186 n/a 121,664 108,678 5,272 n/a 113,950 Watch and classified or High Risk 732 4,595 104 5,431 666 3,746 97 4,509 Default n/a n/a 925 925 n/a n/a 563 563 Total 236,942 9,828 1,029 247,799 227,758 9,075 660 237,493 Allowance for loan losses 643 599 166 1,408 651 551 120 1,322 Loans, net of allowance 236,299 9,229 863 246,391 227,107 8,524 540 236,171 Total loans excluding acquired credit-impaired loans 5 662,801 19,421 3,296 685,518 648,143 18,204 3,154 669,501 Allowance for loan losses 1,691 1,297 774 3,762 1,628 1,217 686 3,531 Loans, net of allowance 5 661,110 18,124 2,522 681,756 646,515 16,987 2,468 665,970 Acquired credit-impaired loans n/a n/a 382 382 n/a n/a 453 453 Allowance for loan losses n/a n/a 16 16 n/a n/a 18 18 Loans, net of allowance n/a n/a 366 366 n/a n/a 435 435 Total loans 5 662,801 19,421 3,678 685,900 648,143 18,204 3,607 669,954 Total allowance for loan losses 1,691 1,297 790 3,778 1,628 1,217 704 3,549 Total loans, net of allowance 5 $ 661,110 $ 18,124 $ 2,888 $ 682,122 $ 646,515 $ 16,987 $ 2,903 $ 666,405 1 As at April 30, 2019, impaired loans with a balance of $138 million (October 31, 2018 – $124 million) did not have a related allowance for loan losses. An allowance was not required for these loans as the balance relates to loans where the realizable value of the collateral exceeded the loan amount. 2 As at April 30, 2019, excludes trading loans and non-trading 3 As at April 30, 2019, includes insured mortgages of $91 billion (October 31, 2018 – $95 billion). 4 As at April 30, 2019, includes Canadian government-insured real estate personal loans of $14 billion (October 31, 2018 – $14 billion). 5 As at April 30, 2019, includes loans that are measured at FVOCI of $2 billion (October 31, 2018 – $3 billion) and customers' liability under acceptances of $16 billion (October 31, 2018 – $17 billion). Loans by Risk Ratings – Off-Balance Sheet Credit Instruments (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail Exposures 1 Low Risk $ 261,329 $ 829 $ n/a $ 262,158 $ 246,575 $ 2,576 $ n/a $ 249,151 Normal Risk 52,244 607 n/a 52,851 51,961 1,129 n/a 53,090 Medium Risk 13,073 368 n/a 13,441 12,298 469 n/a 12,767 High Risk 1,754 895 – 2,649 1,765 638 – 2,403 Default n/a n/a – – n/a n/a – – Non-Retail 2 Investment grade 176,875 – n/a 176,875 167,993 323 n/a 168,316 Non-Investment 62,865 2,652 n/a 65,517 60,002 2,309 n/a 62,311 Watch and classified 3 2,065 – 2,068 13 1,949 – 1,962 Default n/a n/a – – n/a n/a – – Total off-balance 568,143 7,416 – 575,559 540,607 9,393 – 550,000 Allowance for off-balance 580 525 – 1,105 550 479 – 1,029 Total off-balance $ 567,563 $ 6,891 $ – $ 574,454 $ 540,057 $ 8,914 $ – $ 548,971 1 As at April 30, 2019, includes $307 billion (October 31, 2018 – $302 billion) of personal lines of credit and credit card lines, which are unconditionally cancellable at the Bank's discretion at any time. 2 As at April 30, 2019, includes $39 billion (October 31, 2018 – $37 billion) of the undrawn component of uncommitted credit and liquidity facilities. The changes to the Bank's allowance for loan losses, as at and for the three and six months ended April 30, 2019 and April 30, 2018, are shown in the following tables. Allowance for Loan Losses (millions of Canadian dollars) For the three months ended April 30, 2019 April 30, 2018 Stage 1 Stage 2 Stage 3 Acquired credit- impaired loans Total Stage 1 Stage 2 Stage 3 Acquired credit- impaired loans Total Residential Mortgages Balance at beginning of period $ 25 $ 30 $ 48 $ 4 $ 107 $ 23 $ 22 $ 39 $ 7 $ 91 Provision for credit losses Transfer to Stage 1 1 4 (4 ) – – – 5 (5 ) – – – Transfer to Stage 2 (1 ) 3 (2 ) – – (1 ) 2 (1 ) – – Transfer to Stage 3 – (2 ) 2 – – – (2 ) 2 – – Net remeasurement due to transfers 2 (2 ) 2 – – – (3 ) 1 – – (2 ) New originations or purchases 3 2 n/a n/a – 2 2 n/a n/a – 2 Net repayments 4 – – – – – – – – (1 ) (1 ) Derecognition of financial assets (excluding disposals and write-offs) 5 – (1 ) (4 ) – (5 ) (1 ) – (1 ) – (2 ) Changes to risk, parameters, and models 6 (1 ) 4 9 – 12 (2 ) 5 7 – 10 Disposals – – – – – – – – – – Write-offs – – (6 ) – (6 ) – – (7 ) – (7 ) Recoveries – – – – – – – 1 – 1 Foreign exchange and other adjustments – – – – – – 1 1 1 3 Balance at end of period $ 27 $ 32 $ 47 $ 4 $ 110 $ 23 $ 24 $ 41 $ 7 $ 95 Consumer Instalment and Other Personal Balance, including off-balance $ 598 $ 413 $ 181 $ 2 $ 1,194 $ 535 $ 381 $ 179 $ 5 $ 1,100 Provision for credit losses Transfer to Stage 1 1 84 (80 ) (4 ) – – 77 (73 ) (4 ) – – Transfer to Stage 2 (28 ) 39 (11 ) – – (27 ) 38 (11 ) – – Transfer to Stage 3 (4 ) (54 ) 58 – – (9 ) (43 ) 52 – – Net remeasurement due to transfers 2 (34 ) 38 2 – 6 (31 ) 29 2 – – New originations or purchases 3 73 n/a n/a – 73 72 n/a n/a – 72 Net repayments 4 (22 ) (8 ) (3 ) – (33 ) (13 ) (7 ) (6 ) (1 ) (27 ) Derecognition of financial assets (excluding disposals and write-offs) 5 (18 ) (26 ) (18 ) – (62 ) (29 ) (20 ) (11 ) – (60 ) Changes to risk, parameters, and models 6 (7 ) 74 183 – 250 (14 ) 70 167 (1 ) 222 Disposals – – – – – – – – – – Write-offs – – (280 ) – (280 ) – – (263 ) – (263 ) Recoveries – – 68 – 68 – – 61 1 62 Foreign exchange and other adjustments 5 5 3 – 13 11 7 4 – 22 Balance, including off-balance 647 401 179 2 1,229 572 382 170 4 1,128 Less: Allowance for off-balance 7 26 44 – – 70 25 46 – – 71 Balance at end of period $ 621 $ 357 $ 179 $ 2 $ 1,159 $ 547 $ 336 $ 170 $ 4 $ 1,057 Credit Card 8 Balance, including off-balance $ 865 $ 635 $ 389 $ – $ 1,889 $ 737 $ 585 $ 341 $ – $ 1,663 Provision for credit losses Transfer to Stage 1 1 164 (155 ) (9 ) – – 130 (120 ) (10 ) – – Transfer to Stage 2 (55 ) 72 (17 ) – – (39 ) 54 (15 ) – – Transfer to Stage 3 (8 ) (149 ) 157 – – (8 ) (113 ) 121 – – Net remeasurement due to transfers 2 (55 ) 75 9 – 29 (46 ) 54 9 – 17 New originations or purchases 3 35 n/a n/a – 35 45 n/a n/a – 45 Net repayments 4 (1 ) (1 ) 5 – 3 13 (12 ) 17 – 18 Derecognition of financial assets (excluding disposals and write-offs) 5 (27 ) (33 ) (131 ) – (191 ) (31 ) (27 ) (117 ) – (175 ) Changes to risk, parameters, and models 6 (50 ) 176 339 – 465 (52 ) 150 308 – 406 Disposals – – – – – (4 ) (4 ) (2 ) – (10 ) Write-offs – – (443 ) – (443 ) – – (385 ) – (385 ) Recoveries – – 78 – 78 – – 68 – 68 Foreign exchange and other adjustments 12 7 5 – 24 19 15 13 – 47 Balance, including off-balance 880 627 382 – 1,889 764 582 348 – 1,694 Less: Allowance for off-balance 7 480 318 – – 798 393 264 – – 657 Balance at end of period $ 400 $ 309 $ 382 $ – $ 1,091 $ 371 $ 318 $ 348 $ – $ 1,037 1 Transfers represent stage transfer movements prior to expected credit loss (ECL) remeasurement. 2 Represents the remeasurement between twelve-month and lifetime ECLs due to stage transfers, excluding the change to risk, parameters, and models. 3 Represents the increase in the allowance resulting from loans that were newly originated, purchased, or renewed. 4 Represents the changes in the allowance related to cash flow changes associated with new draws or repayments on loans outstanding. 5 Represents the decrease in the allowance resulting from loans that were fully repaid and excludes the decrease associated with loans that were disposed or fully written off. 6 Represents the change in the allowance related to changes in risk including changes to macroeconomic factors, level of risk, associated parameters, and models. 7 The allowance for loan losses for off-balance 8 Credit cards are considered impaired and migrate to Stage 3 when they are 90 days past due and written off at 180 days past due. Refer to Note 2 of the Bank's 2018 Annual Consolidated Financial Statements for further details. Allowance for Loan Losses 1 (millions of Canadian dollars) For the three months ended April 30, 2019 April 30, 2018 Stage 1 Stage 2 Stage 3 Acquired Total Stage 1 Stage 2 Stage 3 Acquired impaired Total Business and Government Balance, including off-balance $ 725 $ 711 $ 162 $ 10 $ 1,608 $ 663 $ 628 $ 153 $ 14 $ 1,458 Provision for credit losses Transfer to Stage 1 2 41 (40 ) (1 ) – – 38 (37 ) (1 ) – – Transfer to Stage 2 (38 ) 40 (2 ) – – (36 ) 38 (2 ) – – Transfer to Stage 3 (2 ) (29 ) 31 – – (2 ) (13 ) 15 – – Net remeasurement due to transfers 2 (14 ) 27 1 – 14 (11 ) 17 1 – 7 New originations or purchases 2 104 n/a n/a – 104 119 n/a n/a – 119 Net repayments 2 (5 ) (10 ) (4 ) 1 (18 ) (5 ) (12 ) (2 ) 1 (18 ) Derecognition of financial assets (excluding disposals and write-offs) 2 (74 ) (73 ) (25 ) – (172 ) (102 ) (95 ) (17 ) (1 ) (215 ) Changes to risk, parameters, and models 2 (31 ) 127 31 (4 ) 123 9 95 23 (3 ) 124 Disposals – – – – – – – – – – Write-offs – – (40 ) – (40 ) – – (41 ) – (41 ) Recoveries – – 11 2 13 – – 16 1 17 Foreign exchange and other adjustments 11 9 2 1 23 23 18 4 1 46 Balance, including off-balance 717 762 166 10 1,655 696 639 149 13 1,497 Less: Allowance for off-balance 3 74 163 – – 237 70 67 – – 137 Balance at end of period 643 599 166 10 1,418 626 572 149 13 1,360 Total Allowance for Loan Losses at end of period $ 1,691 $ 1,297 $ 774 $ 16 $ 3,778 $ 1,567 $ 1,250 $ 708 $ 24 $ 3,549 1 Includes the allowance for credit losses related to customers' liability under acceptances. 2 For explanations regarding this line item, refer to the "Allowance for Loan Losses" table on the previous page in this Note. 3 The allowance for loan losses for off-balance Allowance for Loan Losses (millions of Canadian dollars) For the six months ended April 30, 2019 April 30, 2018 Stage 1 Stage 2 Stage 3 Acquired impaired Total Stage 1 Stage 2 Stage 3 Acquired Total Residential Mortgages Balance at beginning of period $ 24 $ 34 $ 47 $ 5 $ 110 $ 24 $ 26 $ 45 $ 12 $ 107 Provision for credit losses Transfer to Stage 1 1 17 (16 ) (1 ) – – 11 (11 ) – – – Transfer to Stage 2 (2 ) 6 (4 ) – – (2 ) 4 (2 ) – – Transfer to Stage 3 (1 ) (4 ) 5 – – – (4 ) 4 – – Net remeasurement due to transfers 2 (6 ) 3 – – (3 ) (7 ) 3 – – (4 ) New originations or purchases 3 5 n/a n/a – 5 6 n/a n/a – 6 Net repayments 4 – (1 ) – – (1 ) (1 ) (1 ) – (4 ) (6 ) Derecognition of financial assets (excluding disposals and write-offs) 5 (1 ) (2 ) (8 ) – (11 ) (1 ) (1 ) (1 ) – (3 ) Changes to risk, parameters, and models 6 (9 ) 12 21 (1 ) 23 (7 ) 9 8 (2 ) 8 Disposals – – – – – – – – – – Write-offs – – (13 ) – (13 ) – – (14 ) – (14 ) Recoveries – – – – – – – 2 – 2 Foreign exchange and other adjustments – – – – – – (1 ) (1 ) 1 (1 ) Balance at end of period $ 27 $ 32 $ 47 $ 4 $ 110 $ 23 $ 24 $ 41 $ 7 $ 95 Consumer Instalment and Other Personal Balance, including off-balance $ 599 $ 392 $ 178 $ 2 $ 1,171 $ 529 $ 355 $ 166 $ 5 $ 1,055 Provision for credit losses Transfer to Stage 1 1 167 (158 ) (9 ) – – 146 (138 ) (8 ) – – Transfer to Stage 2 (57 ) 78 (21 ) – – (60 ) 80 (20 ) – – Transfer to Stage 3 (9 ) (106 ) 115 – – (13 ) (88 ) 101 – – Net remeasurement due to transfers 2 (68 ) 78 5 – 15 (59 ) 68 5 – 14 New originations or purchases 3 139 n/a n/a – 139 142 n/a n/a – 142 Net repayments 4 (43 ) (15 ) (6 ) – (64 ) (13 ) (13 ) (6 ) (3 ) (35 ) Derecognition of financial assets (excluding disposals and write-offs) 5 (38 ) (52 ) (33 ) – (123 ) (54 ) (47 ) (20 ) – (121 ) Changes to risk, parameters, and models 6 (48 ) 180 405 – 537 (46 ) 166 351 1 472 Disposals – – – – – – – – – – Write-offs – – (586 ) – (586 ) – – (528 ) – (528 ) Recoveries – – 128 – 128 – – 130 1 131 Foreign exchange and other adjustments 5 4 3 – 12 – (1 ) (1 ) – (2 ) Balance, including off-balance 647 401 179 2 1,229 572 382 170 4 1,128 Less: Allowance for off-balance 7 26 44 – – 70 25 46 – – 71 Balance at end of period $ 621 $ 357 $ 179 $ 2 $ 1,159 $ 547 $ 336 $ 170 $ 4 $ 1,057 Credit Card 8 Balance, including off-balance $ 819 $ 580 $ 341 $ – $ 1,740 $ 763 $ 521 $ 321 $ – $ 1,605 Provision for credit losses Transfer to Stage 1 1 363 (296 ) (67 ) – – 254 (234 ) (20 ) – – Transfer to Stage 2 (111 ) 143 (32 ) – – (93 ) 126 (33 ) – – Transfer to Stage 3 (16 ) (316 ) 332 – – (24 ) (222 ) 246 – – Net remeasurement due to transfers 2 (111 ) 154 23 – 66 (91 ) 113 39 – 61 New originations or purchases 3 65 n/a n/a – 65 112 n/a n/a – 112 Net repayments 4 38 1 (30 ) – 9 84 (4 ) (17 ) – 63 Derecognition of financial assets (excluding disposals and write-offs) 5 (47 ) (54 ) (195 ) – (296 ) (57 ) (57 ) (136 ) – (250 ) Changes to risk, parameters, and models 6 (130 ) 409 716 – 995 (173 ) 343 579 – 749 Disposals – – – – – (8 ) (7 ) (3 ) – (18 ) Write-offs – – (861 ) – (861 ) – – (757 ) – (757 ) Recoveries – – 149 – 149 – – 129 – 129 Foreign exchange and other adjustments 10 6 6 – 22 (3 ) 3 – – – Balance, including off-balance 880 627 382 – 1,889 764 582 348 – 1,694 Less: Allowance for off-balance 7 480 318 – – 798 393 264 – – 657 Balance at end of period $ 400 $ 309 $ 382 $ – $ 1,091 $ 371 $ 318 $ 348 $ – $ 1,037 1 Transfers represent stage transfer movements prior to expected credit loss ECL remeasurement. 2 Represents the remeasurement between twelve-month and lifetime ECLs due to stage transfers, excluding the change to risk, parameters, and models. 3 Represents the increase in the allowance resulting from loans that were newly originated, purchased, or renewed. 4 Represents the changes in the allowance related to cash flow changes associated with new draws or repayments on loans outstanding. 5 Represents the decrease in the allowance resulting from loans that were fully repaid and excludes the decrease associated with loans that were disposed or fully written off. 6 Represents the change in the allowance related to changes in risk including changes to macroeconomic factors, level of risk, associated parameters, and models. 7 The allowance for loan losses for off-balance 8 Credit cards are considered impaired and migrate to Stage 3 when they are 90 days past due and written off at 180 days past due. Refer to Note 2 of the Bank's 2018 Annual Consolidated Financial Statements for further details. Allowance for Loan Losses 1 (millions of Canadian dollars) For the six months ended April 30, 2019 April 30, 2018 Stage 1 Stage 2 Stage 3 Acquired Total Stage 1 Stage 2 Stage 3 Acquired Total Business and Government Balance, including off-balance $ 736 $ 690 $ 120 $ 11 $ 1,557 $ 706 $ 627 $ 174 $ 18 $ 1,525 Provision for credit losses Transfer to Stage 1 2 85 (82 ) (3 ) – – 66 (64 ) (2 ) – – Transfer to Stage 2 (68 ) 72 (4 ) – – (52 ) 55 (3 ) – – Transfer to Stage 3 (3 ) (48 ) 51 – – (4 ) (29 ) 33 – – Net remeasurement due to transfers 2 (27 ) 47 2 – 22 (18 ) 32 3 – 17 New originations or purchases 2 213 n/a n/a – 213 205 n/a n/a – 205 Net repayments 2 2 (22 ) (8 ) 1 (27 ) (6 ) (22 ) (11 ) (1 ) (40 ) Derecognition of financial assets (excluding disposals and write-offs) 2 (168 ) (183 ) (37 ) – (388 ) (194 ) (184 ) (24 ) (1 ) (403 ) Changes to risk, parameters, and models 2 (64 ) 280 101 (8 ) 309 (3 ) 226 26 (5 ) 244 Disposals – – – – – – – (5 ) – (5 ) Write-offs – – (75 ) – (75 ) – – (73 ) (1 ) (74 ) Recoveries – – 19 5 24 – – 32 3 35 Foreign exchange and other adjustments 11 8 – 1 20 (4 ) (2 ) (1 ) – (7 ) Balance, including off-balance 717 762 166 10 1,655 696 639 149 13 1,497 Less: Allowance for off-balance 3 74 163 – – 237 70 67 – – 137 Balance at end of period 643 599 166 10 1,418 626 572 149 13 1,360 Total Allowance for Loan Losses at end of period $ 1,691 $ 1,297 $ 774 $ 16 $ 3,778 $ 1,567 $ 1,250 $ 708 $ 24 $ 3,549 1 Includes the allowance for credit losses related to customers' liability under acceptances. 2 For explanations regarding this line item, refer to the "Allowance for Loan Losses" table on the previous page in this Note. 3 The allowance for loan losses for off-balance The allowance for credit losses on all remaining financial assets is not significant. FORECLOSED ASSETS Foreclosed assets are repossessed non-financial LOANS PAST DUE BUT NOT IMPAIRED A loan is classified as past due when a borrower has failed to make a payment by the contractual due date. The following table summarizes loans that are contractually past due but not impaired as at April 30, 2019 and October 31, 2018. Loans Past Due but not Impaired 1,2 (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 1-30 31-60 61-89 Total 1-30 31-60 61-89 Total Residential mortgages $ 1,620 $ 342 $ 117 $ 2,079 $ 1,471 $ 358 $ 101 $ 1,930 Consumer instalment and other personal 5,972 738 255 6,965 5,988 811 241 7,040 Credit card 1,291 304 208 1,803 1,403 340 213 1,956 Business and government 1,378 421 66 1,865 1,314 444 28 1,786 Total $ 10,261 $ 1,805 $ 646 $ 12,712 $ 10,176 $ 1,953 $ 583 $ 12,712 1 Includes loans that are measured at FVOCI. 2 Balances as at April 30, 2019 and October 31, 2018 exclude all acquired credit-impaired loans. |
Investment in Associates and Jo
Investment in Associates and Joint Ventures | 6 Months Ended |
Apr. 30, 2019 | |
Investments accounted for using equity method [abstract] | |
Investment in Associates and Joint Ventures | NOTE 7: INVESTMENT IN ASSOCIATES AND JOINT VENTURES INVESTMENT IN TD AMERITRADE HOLDING CORPORATION The Bank has significant influence over TD Ameritrade Holding Corporation (TD Ameritrade) and accounts for its investment in TD Ameritrade using the equity method. The Bank's equity share in TD Ameritrade's earnings, excluding dividends, is reported on a one-month As at April 30, 2019, the Bank's reported investment in TD Ameritrade was 42.32% (October 31, 2018 – 41.61%) of the outstanding shares of TD Ameritrade with a fair value of $16 billion (US$12 billion) (October 31, 2018 – $16 billion (US$12 billion)) based on the closing price of US$52.58 (October 31, 2018 – US$51.72) on the New York Stock Exchange. During the six months ended April 30, 2019, TD Ameritrade repurchased 10.2 million shares (for the year ended October 31, 2018 – 5.5 million shares). Pursuant to the Stockholders Agreement in relation to the Bank's equity investment in TD Ameritrade, if stock repurchases by TD Ameritrade cause the Bank's ownership percentage to exceed 45%, the Bank is required to use reasonable efforts to sell or dispose of such excess stock, subject to the Bank's commercial judgment as to the optimal timing, amount, and method of sales with a view to maximizing proceeds from such sales. However, in the event that stock repurchases by TD Ameritrade cause the Bank's ownership percentage to exceed 45%, the Bank has no absolute obligation to reduce its ownership percentage to 45%. In addition, stock repurchases by TD Ameritrade cannot result in the Bank's ownership percentage exceeding 47%. Pursuant to the Stockholders Agreement in relation to the Bank's equity investment in TD Ameritrade, the Bank has the right to designate five of twelve members of TD Ameritrade's Board of Directors. The Bank's designated directors currently include the Bank's Group President and Chief Executive Officer and four independent directors of TD or TD's U.S. subsidiaries. TD Ameritrade has no significant contingent liabilities to which the Bank is exposed. During the six months ended April 30, 2019 and April 30, 2018, TD Ameritrade did not experience any significant restrictions to transfer funds in the form of cash dividends, or repayment of loans or advances. The condensed financial statements of TD Ameritrade, based on its consolidated financial statements, are included in the following tables. Condensed Consolidated Balance Sheets 1 (millions of Canadian dollars) As at March 31 September 30 Assets Receivables from brokers, dealers, and clearing organizations $ 2,178 $ 1,809 Receivables from clients, net 27,836 29,773 Other assets, net 21,804 17,811 Total assets $ 51,818 $ 49,393 Liabilities Payable to brokers, dealers, and clearing organizations $ 3,313 $ 3,923 Payable to clients 31,135 30,126 Other liabilities 6,220 4,809 Total liabilities 40,668 38,858 Stockholders equity 2 11,150 10,535 Total liabilities and stockholders equity $ 51,818 $ 49,393 1 Customers' securities are reported on a settlement date basis whereas the Bank reports customers' securities on a trade date basis. 2 The difference between the carrying value of the Bank's investment in TD Ameritrade and the Bank's share of TD Ameritrade's stockholders' equity is comprised of goodwill, other intangibles, and the cumulative translation adjustment. Condensed Consolidated Statements of Income (millions of Canadian dollars, except as noted) For the three months ended For the six months ended March 31 March 31 March 31 March 31 Revenues Net interest revenue $ 481 $ 390 $ 978 $ 741 Fee-based 1,447 1,400 2,953 2,647 Total revenues 1,928 1,790 3,931 3,388 Operating expenses Employee compensation and benefits 452 583 871 1,111 Other 539 706 1,071 1,349 Total operating expenses 991 1,289 1,942 2,460 Other expense (income) 49 30 73 72 Pre-tax 888 471 1,916 856 Provision for income taxes 225 128 455 136 Net income 1,2 $ 663 $ 343 $ 1,461 $ 720 Earnings per share – basic (Canadian dollars) $ 1.18 $ 0.60 $ 2.60 $ 1.27 Earnings per share – diluted (Canadian dollars) 1.18 0.60 2.59 1.26 1 The Bank's equity share of net income of TD Ameritrade is based on the published consolidated financial statements of TD Ameritrade after converting into Canadian dollars and is subject to adjustments relating to the amortization of certain intangibles. 2 The Bank's equity share in TD Ameritrade earnings for the three and six months ended April 30, 2019 includes an adjustment of nil (three and six months ended April 30, 2018 – a net favourable adjustment of nil and $41 million (US$32 million), respectively) primarily representing the Bank's share of TD Ameritrade's remeasurement of its deferred income tax balances as a result of the reduction in the U.S. federal corporate income tax rate. |
Significant Acquisitions and Di
Significant Acquisitions and Disposals | 6 Months Ended |
Apr. 30, 2019 | |
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Significant Acquisitions and Disposals | NOTE 8: SIGNIFICANT ACQUISITIONS AND DISPOSALS Agreement for Air Canada Credit Card Loyalty Program On January 10, 2019, the Bank's long-term loyalty program agreement (the "Loyalty Agreement") with Air Canada became effective in conjunction with Air Canada completing its acquisition of Aimia Canada Inc., which operates the Aeroplan loyalty business (the "Transaction"). Under the terms of the Loyalty Agreement, the Bank will become the primary credit card issuer for Air Canada's new loyalty program when it launches in 2020 through to 2030. TD Aeroplan cardholders will become members of Air Canada's new loyalty program and their miles will be transitioned when Air Canada's new loyalty program launches in 2020. In connection with the Transaction, the Bank paid $622 million plus applicable sales tax to Air Canada, of which $547 million ($446 million after sales and income taxes) was recognized in Non-interest ten-year Acquisition of Greystone Managed Investments Inc. On November 1, 2018, the Bank acquired 100% of the outstanding equity of Greystone Capital Management Inc., the parent company of Greystone Managed Investments Inc. ("Greystone") for consideration of $817 million, of which $475 million was paid in cash and $342 million was paid in the Bank's common shares. The value of 4.7 million common shares issued as consideration was based on the volume weighted-average market price of the Bank's common shares over the 10 trading day period immediately preceding the fifth business day prior to the acquisition date and was recorded based on market price at close. Common shares of $167 million issued to employee shareholders in respect of the purchase price will be held in escrow for two years post-acquisition, subject to their continued employment, and will be recorded as a compensation expense over the two-year The acquisition was accounted for as a business combination under the purchase method. As at November 1, 2018, the acquisition contributed $169 million of assets and $55 million of liabilities. The excess of accounting consideration over the fair value of the identifiable net assets has been allocated to customer relationship intangibles of $140 million, deferred tax liability of $37 million, and goodwill of $433 million. Goodwill is not deductible for tax purposes. The results of the acquisition have been consolidated from the acquisition date and reported in the Canadian Retail segment. The purchase price allocation is subject to refinement and may be adjusted to reflect new information about facts and circumstances that existed at the acquisition date during the measurement period. |
Goodwill
Goodwill | 6 Months Ended |
Apr. 30, 2019 | |
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Goodwill | NOTE 9: GOODWILL Goodwill by Segment (millions of Canadian dollars) Canadian U.S. 1 Wholesale Total Carrying amount of goodwill as at November 1, 2017 $ 2,303 $ 13,693 $ 160 $ 16,156 Additions 82 – – 82 Foreign currency translation adjustments and other 18 280 – 298 Carrying amount of goodwill as at October 31, 2018 2 2,403 13,973 160 16,536 Additions 433 – – 433 Foreign currency translation adjustments and other 15 248 – 263 Carrying amount of goodwill as at April 30, 2019 2 $ 2,851 $ 14,221 $ 160 $ 17,232 1 Goodwill predominantly relates to U.S. personal and commercial banking. 2 Impairment losses for the three and six months ended April 30, 2019 and April 30, 2018 were nil, and accumulated impairment as at April 30, 2019 was nil (October 31, 2018 – nil). |
Other Assets
Other Assets | 6 Months Ended |
Apr. 30, 2019 | |
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Other Assets | NOTE 10: OTHER ASSETS Other Assets (millions of Canadian dollars) As at April 30 October 31 Accounts receivable and other items $ 9,310 $ 8,938 Accrued interest 2,446 2,343 Current income tax receivable 2,503 1,614 Defined benefit asset 10 113 Insurance-related assets, excluding investments 1,561 1,638 Prepaid expenses 1,408 950 Total $ 17,238 $ 15,596 |
Deposits
Deposits | 6 Months Ended |
Apr. 30, 2019 | |
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Deposits | NOTE 11: DEPOSITS Demand deposits are those for which the Bank does not have the right to require notice prior to withdrawal. These deposits are in general chequing accounts. Notice deposits are those for which the Bank can legally require notice prior to withdrawal. These deposits are in general savings accounts. Term deposits are those payable on a fixed date of maturity purchased by customers to earn interest over a fixed period. The terms are from one day to ten years. The deposits are generally term deposits, guaranteed investment certificates, senior debt, and similar instruments. The aggregate amount of term deposits in denominations of $100,000 or more as at April 30, 2019, was $297 billion (October 31, 2018 – $293 billion). Certain deposit liabilities are classified as Trading deposits on the Interim Consolidated Balance Sheet and accounted for at fair value with the change in fair value recognized on the Interim Consolidated Statement of Income. Certain deposits have been designated at fair value through profit or loss on the Interim Consolidated Balance Sheet to reduce an accounting mismatch from related economic hedges. These deposits are accounted for at fair value with the change in fair value recognized on the Interim Consolidated Statement of Income, except for the amount of change in fair value attributable to changes in the Bank's own credit risk, which is recognized on the Interim Consolidated Statement of Comprehensive Income. Changes in fair value attributable to changes in the Bank's own credit risk are measured as the difference between: (i) the period-over-period change in the present value of the expected cash flows using an all-in For deposits designated at fair value through profit or loss, the estimated amount that the Bank would be contractually required to pay at maturity, which is based on notional amounts, was $177 million less than its fair value as at April 30, 2019. Deposits (millions of Canadian dollars) As at By Type By Country April 30 October 31 Demand Notice Term 1 Canada United States International Total Total Personal $ 13,714 $ 419,240 $ 56,729 $ 225,858 $ 263,795 $ 30 $ 489,683 $ 477,644 Banks 2 9,163 155 10,351 12,811 74 6,784 19,669 16,712 Business and government 3,4 78,789 133,449 153,753 266,014 96,320 3,657 365,991 357,083 Trading 2 – – 53,974 26,119 16,270 11,585 53,974 114,704 Designated at fair value through profit or loss 2,5 – – 57,766 31,711 22,175 3,880 57,766 – Total $ 101,666 $ 552,844 $ 332,573 $ 562,513 $ 398,634 $ 25,936 $ 987,083 $ 966,143 Non-interest-bearing deposits included above In domestic offices $ 40,562 $ 42,402 In foreign offices 53,524 54,488 Interest-bearing deposits included above In domestic offices 521,951 505,295 In foreign offices 370,365 362,890 U.S. federal funds deposited 2 681 1,068 Total 3,6 $ 987,083 $ 966,143 1 Includes $6,586 million (October 31, 2018 – $53 "bail-in" non-viable. 2 Includes deposits and advances with the Federal Home Loan Bank. 3 As at April 30, 2019, includes $39 billion relating to covered bondholders (October 31, 2018 – $36 billion) and $2 billion (October 31, 2018 – $2 billion) due to TD Capital Trust lV. 4 On May 9, 2019, TD Capital Trust IV announced its intention to redeem all of the outstanding TD Capital Trust IV Notes – Series 1 on June 30, 2019. 5 Financial liabilities designated at fair value through profit or loss on the Interim Consolidated Balance Sheet consist of deposits designated at fair value through profit or loss and $17 million (October 31, 2018 – $16 million) of loan commitments and financial guarantees designated at fair value through profit or loss. 6 As at April 30, 2019, includes deposits of $559 billion (October 31, 2018 – $548 billion) denominated in U.S. dollars and $56 billion (October 31, 2018 – $55 billion) denominated in other foreign currencies. |
Other Liabilities
Other Liabilities | 6 Months Ended |
Apr. 30, 2019 | |
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Other Liabilities | NOTE 12: OTHER LIABILITIES Other Liabilities 1 (millions of Canadian dollars) As at April 30 October 31 Accounts payable, accrued expenses, and other items $ 4,842 $ 4,958 Accrued interest 1,373 1,283 Accrued salaries and employee benefits 2,538 3,344 Cheques and other items in transit 964 454 Current income tax payable 149 84 Deferred tax liabilities 192 175 Defined benefit liability 2,230 1,747 Liabilities related to structured entities 6,449 5,627 Provisions 1,522 1,502 Total $ 20,259 $ 19,174 1 Certain comparative amounts have been reclassified to conform with the presentation adopted in the current period. |
Equity
Equity | 6 Months Ended |
Apr. 30, 2019 | |
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Equity | NOTE 13: EQUITY The following table summarizes the shares issued and outstanding, and treasury shares held as at April 30, 2019 and October 31, 2018. Common and Preferred Shares Issued and Outstanding and Treasury Shares Held (millions of shares and millions of Canadian dollars) April 30, 2019 October 31, 2018 Number Amount Number Amount Common Shares Balance as at beginning of year 1,830.4 $ 21,221 1,842.5 $ 20,931 Proceeds from shares issued on exercise of stock options 1.0 52 2.9 152 Shares issued as a result of dividend reinvestment plan 2.7 197 5.0 366 Shares issued in connection with acquisitions 1 5.0 366 – – Purchase of shares for cancellation and other (10.0 ) (118 ) (20.0 ) (228 ) Balance as at end of period – common shares 1,829.1 $ 21,718 1,830.4 $ 21,221 Preferred Shares – Class A Balance as at beginning of year 200.0 $ 5,000 190.0 $ 4,750 Shares issued 2 14.0 350 30.0 750 Shares redeemed – – (20.0 ) (500 ) Balance as at end of period – preferred shares 214.0 $ 5,350 200.0 $ 5,000 Treasury shares – common 3 Balance as at beginning of year 2.1 $ (144 ) 2.9 $ (176 ) Purchase of shares 71.5 (5,198 ) 110.6 (8,295 ) Sale of shares (72.9 ) 5,293 (111.4 ) 8,327 Balance as at end of period – treasury shares – common 0.7 $ (49 ) 2.1 $ (144 ) Treasury shares – preferred 3 Balance as at beginning of year 0.3 $ (7 ) 0.3 $ (7 ) Purchase of shares 3.0 (69 ) 5.2 (129 ) Sale of shares (3.0 ) 70 (5.2 ) 129 Balance as at end of period – treasury shares – preferred 0.3 $ (6 ) 0.3 $ (7 ) 1 Includes 4.7 million shares issued for $342 million that form part of the consideration paid for Greystone, as well as 0.3 million shares issued for $24 million as share-based compensation to replace share-based payment awards of Greystone. Refer to Note 8 for a discussion on the acquisition of Greystone. 2 Non-Cumulative 5-Year (non-viability non-cumulative non-cumulative 3 When the Bank purchases its own shares as part of its trading business, they are classified as treasury shares and the cost of these shares is recorded as a reduction in equity. Normal Course Issuer Bid As approved by the Board on May 22, 2019, the Bank announced its intention to initiate a normal course issuer bid (NCIB) for up to 20 million of its common shares, subject to the approval of OSFI and the Toronto Stock Exchange (TSX). The timing and amount of any purchases under the program are subject to regulatory approvals and to management discretion based on factors such as market conditions and capital adequacy. The Bank's previous NCIB, which was announced on April 19, 2018 and as amended on December 10, 2018, expired on April 12, 2019. The Bank repurchased an aggregate of 30 million common shares under its previous NCIB, at an average price of $74.29 per share for a total amount of $2.2 billion. During the three and six months ended April 30, 2019, the Bank repurchased 5.5 million and 10 million common shares, respectively, under its previous NCIB at an average price of $75.30 and $72.75 per share, respectively, for a total amount of $414 million and $727 million, respectively. During the year ended October 31, 2018, the Bank repurchased 20 million common shares under its previous NCIB at an average price of $75.07 per share for a total amount of $1.5 billion. Non-Controlling Redemption of TD CaTS III Securities On December 31, 2018, TD Capital Trust III, a subsidiary of the Bank, redeemed all of the outstanding TD Capital Trust III Securities – Series 2008 (TD CaTS III) at a price of $1 billion plus the unpaid distribution payable on the redemption date. TD CaTS III were included in Non-controlling |
Share-based Compensation
Share-based Compensation | 6 Months Ended |
Apr. 30, 2019 | |
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Share-based Compensation | NOTE 14: SHARE-BASED COMPENSATION For the three and six months ended April 30, 2019, the Bank recognized compensation expense for stock option awards of $3.0 million and $6.3 million, respectively (three and six months ended April 30, 2018 – $3.4 million and $6.5 million, respectively). During the three months ended April 30, 2019 and April 30, 2018, nil stock options were granted by the Bank at a weighted-average fair value of nil per option. During the six months ended April 30, 2019, 2.2 million stock options (six months ended April 30, 2018 – 1.9 million stock options) were granted by the Bank at a weighted-average fair value of $5.64 per option (April 30, 2018 – $6.28 per option). The following table summarizes the assumptions used for estimating the fair value of options for the six months ended April 30. Assumptions Used for Estimating the Fair Value of Options (in Canadian dollars, except as noted) For the six months ended April 30 April 30 Risk-free interest rate 2.03 % 1.71 % Expected option life 6.3 years 6.3 years Expected volatility 1 12.64 % 13.91 % Expected dividend yield 3.48 % 3.50 % Exercise price/share price $ 69.39 $ 72.64 1 Expected volatility is calculated based on the average daily volatility measured over a historical period corresponding to the expected option life. |
Employee Benefits
Employee Benefits | 6 Months Ended |
Apr. 30, 2019 | |
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Employee Benefits | NOTE 15: EMPLOYEE BENEFITS The following table summarizes expenses for the Bank's principal pension and non-pension Employee Benefit Plans Expenses (millions of Canadian dollars) Principal pension Principal non-pension Other pension and 1 For the three months ended April 30 April 30 April 30 April 30 April 30 April 30 Net employee benefits expense Service cost – benefits earned $ 82 $ 101 $ 3 $ 4 $ 3 $ 2 Net interest cost on net defined benefit liability (3 ) 2 5 5 8 8 Past service cost (credit) – – – – 2 – Defined benefit administrative expenses 2 3 – – 1 1 Total expense $ 81 $ 106 $ 8 $ 9 $ 14 $ 11 For the six months ended April 30 April 30 April 30 April 30 April 30 April 30 Net employee benefits expense Service cost – benefits earned $ 163 $ 203 $ 7 $ 8 $ 5 $ 5 Net interest cost on net defined benefit liability (6 ) 4 10 9 16 15 Past service cost (credit) – – – – 2 (3 ) Defined benefit administrative expenses 5 5 – – 3 2 Total expense $ 162 $ 212 $ 17 $ 17 $ 26 $ 19 1 Includes Canada Trust (CT) defined benefit pension plan, TD Banknorth defined benefit pension plan, TD Auto Finance retirement plans, and supplemental employee retirement plans. Other employee benefit plans operated by the Bank and certain of its subsidiaries are not considered material for disclosure purposes. The TD Banknorth defined benefit pension plan was frozen as of December 31, 2008, and no service credits can be earned after that date. Certain TD Auto Finance defined benefit pension plans were frozen as of April 1, 2012, and no service credits can be earned after March 31, 2012. CASH FLOWS The following table summarizes the Bank's contributions to its principal pension and non-pension Plan Contributions (millions of Canadian dollars) For the three months ended For the six months ended April 30 April 30 2018 April 30 April 30 Principal pension plans $ 95 $ 71 $ 178 $ 190 Principal non-pension 4 4 8 7 Other pension and retirement plans 1 10 7 19 16 Total $ 109 $ 82 $ 205 $ 213 1 Includes CT defined benefit pension plan, TD Banknorth defined benefit pension plan, TD Auto Finance retirement plans, and supplemental employee retirement plans. Other employee benefit plans operated by the Bank and certain of its subsidiaries are not considered material for disclosure purposes. As at April 30, 2019, the Bank expects to contribute an additional $175 million to its principal pension plans, $8 million to its principal non-pension post-retirement |
Income Taxes
Income Taxes | 6 Months Ended |
Apr. 30, 2019 | |
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Income Taxes | NOTE 16: INCOME TAXES The Canada Revenue Agency (CRA) and Alberta are denying certain dividend deductions claimed by the Bank. To date, the Bank has been reassessed for approximately $553 million of income tax and interest for the years 2011 to 2013. The Bank expects the CRA and Alberta to reassess the subsequent years on the same basis and that Québec will also reassess all open years. The Bank is of the view that its tax filing positions were appropriate and intends to challenge all reassessments. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Apr. 30, 2019 | |
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Earnings Per Share | NOTE 17: EARNINGS PER SHARE Basic earnings per share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is calculated using the same method as basic earnings per share except that certain adjustments are made to net income attributable to common shareholders and the weighted-average number of shares outstanding for the effects of all dilutive potential common shares that are assumed to be issued by the Bank. The following table presents the Bank's basic and diluted earnings per share for the three and six months ended April 30. Basic and Diluted Earnings Per Share (millions of Canadian dollars, except as noted) For the three months ended For the six months ended April 30 April 30 April 30 April 30 Basic earnings per share Net income attributable to common shareholders $ 3,110 $ 2,846 $ 5,442 $ 5,129 Weighted-average number of common shares outstanding (millions) 1,826.6 1,843.6 1,829.9 1,842.6 Basic earnings per share $ 1.70 $ 1.54 $ 2.97 $ 2.78 Diluted earnings per share Net income attributable to common shareholders $ 3,110 $ 2,846 $ 5,442 $ 5,129 Net income available to common shareholders including impact of dilutive securities 3,110 2,846 5,442 5,129 Weighted-average number of common shares outstanding (millions) 1,826.6 1,843.6 1,829.9 1,842.6 Effect of dilutive securities Stock options potentially exercisable (millions) 1 3.4 3.9 3.3 4.2 Weighted-average number of common shares outstanding – diluted (millions) 1,830.0 1,847.5 1,833.2 1,846.8 Diluted earnings per share 1 $ 1.70 $ 1.54 $ 2.97 $ 2.78 1 For the three and six months ended April 30, 2019 and April 30, 2018, no outstanding options were excluded from the computation of diluted earnings per share. |
Contingent Liabilities
Contingent Liabilities | 6 Months Ended |
Apr. 30, 2019 | |
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Contingent Liabilities | NOTE 18: CONTINGENT LIABILITIES Other than as described below, there have been no new significant events or transactions as previously identified in Note 27 of the Bank's 2018 Annual Consolidated Financial Statements. LITIGATION In the ordinary course of business, the Bank and its subsidiaries are involved in various legal and regulatory actions. The Bank establishes legal provisions when it becomes probable that the Bank will incur a loss and the amount can be reliably estimated. The Bank also estimates the aggregate range of reasonably possible losses (RPL) in its legal and regulatory actions (that is, those which are neither probable nor remote), in excess of provisions. As at April 30, 2019, the Bank's RPL is from zero to approximately $602 million (October 31, 2018 – from zero to approximately $763 million). The Bank's provisions and RPL represent the Bank's best estimates based upon currently available information for actions for which estimates can be made, but there are a number of factors that could cause the Bank's provisions and/or RPL to be significantly different from its actual or reasonably possible losses. For example, the Bank's estimates involve significant judgment due to the varying stages of the proceedings, the existence of multiple defendants in many proceedings whose share of liability has yet to be determined, the numerous yet-unresolved In management's opinion, based on its current knowledge and after consultation with counsel, the ultimate disposition of these actions, individually or in the aggregate, will not have a material adverse effect on the consolidated financial condition or the consolidated cash flows of the Bank. However, because of the factors listed above, as well as other uncertainties inherent in litigation and regulatory matters, there is a possibility that the ultimate resolution of legal or regulatory actions may be material to the Bank's consolidated results of operations for any particular reporting period. Stanford Litigation Overdraft Litigation Credit Card Fees Consumer Class Actions |
Segmented Information
Segmented Information | 6 Months Ended |
Apr. 30, 2019 | |
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Segmented Information | NOTE 19: SEGMENTED INFORMATION For management reporting purposes, the Bank reports its results under three key business segments: Canadian Retail, which includes the results of the Canadian personal and commercial banking, wealth, and insurance businesses; U.S. Retail, which includes the results of the U.S. personal and business banking operations, wealth management services, and the Bank's investment in TD Ameritrade; and Wholesale Banking. The Bank's other activities are grouped into the Corporate segment. Refer to Note 29 of the Bank's 2018 Annual Consolidated Financial Statements for additional segment disclosures. The following table summarizes the segment results for the three and six months ended April 30. Results by Business Segment 1,2 (millions of Canadian dollars) Canadian Retail U.S. Retail Wholesale Banking 3 Corporate 3 Total For the three months ended April 30 2019 April 30 2018 April 30 April 30 2018 April 30 2019 April 30 2018 April 30 2019 April 30 2018 April 30 2019 April 30 2018 Net interest income (loss) $ 3,010 $ 2,781 $ 2,231 $ 1,977 $ 262 $ 272 $ 369 $ 368 $ 5,872 $ 5,398 Non-interest 2,949 2,731 677 654 625 615 105 84 4,356 4,084 Total revenue 4 5,959 5,512 2,908 2,631 887 887 474 452 10,228 9,482 Provision for (recovery of) credit losses 280 219 226 204 (5 ) 16 132 117 633 556 Insurance claims and related expenses 668 558 – – – – – – 668 558 Non-interest 2,481 2,232 1,527 1,488 597 516 643 601 5,248 4,837 Income (loss) before income taxes 2,530 2,503 1,155 939 295 355 (301 ) (266 ) 3,679 3,531 Provision for (recovery of) income taxes 681 670 150 94 74 88 (132 ) (106 ) 773 746 Equity in net income of an investment in TD Ameritrade – – 258 134 – – 8 (3 ) 266 131 Net income (loss) $ 1,849 $ 1,833 $ 1,263 $ 979 $ 221 $ 267 $ (161 ) $ (163 ) $ 3,172 $ 2,916 For the six months ended April 30 April 30 2018 April 30 April 30 2018 April 30 April 30 2018 April 30 April 30 April 30 2019 April 30 2018 Net interest income (loss) $ 6,054 $ 5,606 $ 4,478 $ 3,917 $ 435 $ 601 $ 765 $ 704 $ 11,732 $ 10,828 Non-interest 5,893 5,456 1,378 1,357 1,034 1,176 189 40 8,494 8,029 Total revenue 4 11,947 11,062 5,856 5,274 1,469 1,777 954 744 20,226 18,857 Provision for (recovery of) credit losses 590 489 532 451 2 9 359 300 1,483 1,249 Insurance claims and related expenses 1,370 1,133 – – – – – – 1,370 1,133 Non-interest 5,565 4,543 3,138 2,935 1,199 1,042 1,201 1,178 11,103 9,698 Income (loss) before income taxes 4,422 4,897 2,186 1,888 268 726 (606 ) (734 ) 6,270 6,777 Provision for (recovery of) income taxes 1,194 1,307 252 197 64 181 (234 ) 101 1,276 1,786 Equity in net income of an investment in TD Ameritrade – – 569 240 – – 19 38 588 278 Net income (loss) $ 3,228 $ 3,590 $ 2,503 $ 1,931 $ 204 $ 545 $ (353 ) $ (797 ) $ 5,582 $ 5,269 Total assets $ 439,485 $ 415,518 $ 426,143 $ 405,115 $ 424,360 $ 403,775 $ 66,600 $ 59,428 $ 1,356,588 $ 1,283,836 1 Certain comparative amounts have been recast to conform with the presentation adopted in the current period. 2 The retailer program partners' share of revenues and credit losses is presented in the Corporate segment, with an offsetting amount (representing the partners' net share) recorded in Non-interest 3 Net interest income within Wholesale Banking is calculated on a taxable equivalent basis (TEB). The TEB adjustment reflected in Wholesale Banking is reversed in the Corporate segment. 4 The impact from certain treasury and balance sheet management activities relating to the U.S. Retail segment is recorded in the Corporate segment. |
Interest Income and Expense
Interest Income and Expense | 6 Months Ended |
Apr. 30, 2019 | |
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Interest Income and Expense | NOTE 20: INTEREST INCOME AND EXPENSE The following table presents interest income and interest expense by basis of accounting measurement. Please refer to Note 2 of the 2018 Annual Consolidated Financial Statements for the type of instruments measured at amortized cost and FVOCI. (millions of Canadian dollars) For the three months ended April 30, 2019 April 30, 2018 Interest Interest Interest Interest Measured at amortized cost $ 7,289 $ 2,823 $ 6,214 $ 2,157 Measured at FVOCI 1,265 – 1,096 – 8,554 2,823 7,310 2,157 Not measured at amortized cost or FVOCI 1 1,719 1,578 1,299 1,054 Total $ 10,273 $ 4,401 $ 8,609 $ 3,211 For the six months ended April 30, 2019 April 30, 2018 Interest Interest Interest Interest Measured at amortized cost $ 14,669 $ 5,751 $ 12,274 $ 4,107 Measured at FVOCI 2,570 – 2,137 – 17,239 5,751 14,411 4,107 Not measured at amortized cost or FVOCI 1 3,578 3,334 2,506 1,982 Total $ 20,817 $ 9,085 $ 16,917 $ 6,089 1 Includes interest income, interest expense, and dividend income for financial instruments that are measured or designated at fair value through profit or loss and equities designated at FVOCI. |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Apr. 30, 2019 | |
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Regulatory Capital | NOTE 21: REGULATORY CAPITAL The Bank manages its capital under guidelines established by OSFI. The regulatory capital guidelines measure capital in relation to credit, market, and operational risks. The Bank has various capital policies, procedures, and controls which it utilizes to achieve its goals and objectives. During the six months ended April 30, 2019, the Bank complied with the OSFI Basel III guidelines related to capital ratios and the leverage ratio. Effective January 1, 2016, OSFI's target Common Equity Tier 1 (CET1), Tier 1, and Total Capital ratios for Canadian banks designated as domestic systemically important banks (D-SIBs) D-SIBs The following table summarizes the Bank's regulatory capital positions as at April 30, 2019 and October 31, 2018. Regulatory Capital Position (millions of Canadian dollars, except as noted) As at April 30 October 31 Capital Common Equity Tier 1 Capital $ 54,269 $ 52,389 Tier 1 Capital 61,008 59,735 Total Capital 71,620 70,434 Risk-weighted assets used in the calculation of capital ratios 1 Common Equity Tier 1 Capital $ 452,267 $ 435,632 Tier 1 Capital 452,267 435,780 Total Capital 452,267 435,927 Capital and leverage ratios Common Equity Tier 1 Capital ratio 1 12.0 % 12.0 % Tier 1 Capital ratio 1 13.5 13.7 Total Capital ratio 1 15.8 16.2 Leverage ratio 4.2 4.2 1 In accordance with the final Capital Adequacy Requirements guideline, the Credit Valuation Adjustment (CVA) capital charge has been phased in until the first quarter of 2019. Each capital ratio has its own RWA measure due to the OSFI prescribed scalar for inclusion of the CVA. For fiscal 2019, the corresponding scalars are all 100%. For fiscal 2018, the scalars for inclusion of CVA for CET1, Tier 1, and Total Capital RWA were 80%, 83%, and 86%, respectively. |
Risk Management
Risk Management | 6 Months Ended |
Apr. 30, 2019 | |
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Risk Management | NOTE 22: RISK MANAGEMENT The risk management policies and procedures of the Bank are provided in the MD&A. The shaded sections of the "Managing Risk" section of the MD&A relating to market, liquidity, and insurance risks are an integral part of the Interim Consolidated Financial Statements. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Subsequent Events | NOTE 23: SUBSEQUENT EVENTS Normal Course Issuer Bid As approved by the Board on May 22, 2019, the Bank announced its intention to initiate an NCIB for up to 20 million of its common shares, subject to the approval of OSFI and the TSX. The timing and amount of any purchases under the program are subject to regulatory approvals and to management discretion based on factors such as market conditions and capital adequacy. |
Current and Future Changes in_2
Current and Future Changes in Accounting Policies (Policies) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers On November 1, 2018, the Bank adopted IFRS 15, Revenue from Contracts with Customers The adoption of IFRS 15 resulted in a reduction to Shareholders' Equity of $41 million related to certain expenses not eligible for deferral under IFRS 15. The presentation of certain revenue and expense items is changed due to IFRS 15 and reclassified prospectively. These presentation changes are not significant and do not have an impact on net income. In addition to the above changes related to the adoption of IFRS 15, the Bank also changed its accounting policy on securities lending and borrowing transactions. Where securities are received or pledged as collateral, securities lending income and securities borrowing fees are recorded in Non-interest Non-interest Revenue Recognition Revenue is recognized at an amount that reflects the consideration the Bank expects to be entitled to in exchange for transferring services to a customer, excluding amounts collected on behalf of third parties. The Bank recognizes revenue when it transfers control of a good or a service to a customer at a point in time or over time. The determination of when performance obligations are satisfied requires the use of judgment. Refer to Note 3 for further details. The Bank identifies contracts with customers subject to IFRS 15, which create enforceable rights and obligations. The Bank determines the performance obligations based on distinct services promised to the customers in the contracts. The Bank's contracts generally have a term of one year or less, consist of a single performance obligation, and the performance obligations generally reflect services. For each contract, the Bank determines the transaction price, which includes estimating variable consideration and assessing whether the price is constrained. Variable consideration is included in the transaction price to the extent that it is highly probable that a significant reversal of the amount will not occur when the uncertainty associated with the amount of variable consideration is subsequently resolved. As such, the estimate of the variable consideration is constrained until the end of the invoicing period. The uncertainty is generally resolved at the end of the reporting period and as such, no significant judgment is required when recognizing variable consideration in revenues. The Bank's receipt of payment from customers generally occurs subsequent to the satisfaction of performance obligations or a short time thereafter. As such, the Bank has not recognized any material contract assets (unbilled receivables) or contract liabilities (deferred revenues) and there is no significant financing component associated with the consideration due to the Bank. When another party is involved in the transfer of services to a customer, an assessment is made to evaluate whether the Bank is the principal such that revenues are reported on a gross basis or the agent such that revenues are reported on a net basis. The Bank is the principal when it controls the services in the contract promised to the customer before they are transferred. Control is demonstrated by the Bank being primarily responsible for fulfilling the transfer of the services to the customer, having discretion in establishing pricing of the services, or both. Refer to Note 2 of the Bank's 2018 Annual Consolidated Financial Statements for additional revenue policy disclosures. |
Share-based Payment | Share-based Payment In June 2016, the IASB published amendments to IFRS 2, Share-based Payment |
Leases | Leases In January 2016, the IASB issued IFRS 16, Leases Leases right-of-use right-of-use low-value |
Insurance Contracts | Insurance Contracts In May 2017, the IASB issued IFRS 17, Insurance Contracts Insurance Contracts |
Conceptual Framework for Financial Reporting | Conceptual Framework for Financial Reporting In March 2018, the IASB issued the revised Conceptual Framework for Financial Reporting (Revised Conceptual Framework), which provides a set of concepts to assist the IASB in developing standards and to help preparers consistently apply accounting policies where specific accounting standards do not exist. The framework is not an accounting standard and does not override the requirements that exist in other IFRS standards. The Revised Conceptual Framework describes that financial information must be relevant and faithfully represented to be useful, provides revised definitions and recognition criteria for assets and liabilities, and confirms that different measurement bases are useful and permitted. The Revised Conceptual Framework is effective for annual periods beginning on or after January 1, 2020, which will be November 1, 2020 for the Bank, with early adoption permitted. The Bank is currently assessing the impact of adopting the revised framework. |
Business Combinations | Business Combinations In October 2018, the IASB issued a narrow-scope amendment to IFRS 3, Business Combinations |
Presentation of Financial Statements and Accounting Policies, Changes in Accounting Estimates and Errors | Presentation of Financial Statements and Accounting Policies, Changes in Accounting Estimates and Errors In October 2018, the IASB issued amendments to IAS 1, Presentation of Financial Statements Accounting Policies, Changes in Accounting Estimates and Errors |
IFRS 7 Disclosure (Tables)
IFRS 7 Disclosure (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Portfolio Market Risk Measures | TABLE 28: PORTFOLIO MARKET RISK MEASURES (millions of Canadian dollars) For the three months ended For the six months ended April 30 2019 January 31 April 30 April 30 April 30 As at Average High Low Average Average Average Average Interest rate risk $ 6.7 $ 8.6 $ 13.9 $ 5.4 $ 12.9 $ 17.0 $ 10.8 $ 13.0 Credit spread risk 11.1 12.2 16.6 9.4 19.7 11.4 16.0 10.3 Equity risk 7.0 6.7 9.6 4.6 7.1 8.5 6.9 8.1 Foreign exchange risk 4.3 5.4 9.5 1.7 6.5 4.5 6.0 4.1 Commodity risk 1.4 2.2 3.5 1.4 2.6 2.2 2.4 2.4 Idiosyncratic debt specific risk 14.5 15.1 20.2 13.5 20.2 17.3 17.6 15.7 Diversification effect 1 (25.9 ) (29.2 ) n/m 2 n/m (41.4 ) (35.4 ) (35.4 ) (31.2 ) Total Value-at-Risk (one-day) 19.1 21.0 28.1 16.8 27.6 25.5 24.3 22.4 Stressed Value-at-Risk (one-day) 43.9 43.5 56.8 38.8 60.5 57.7 52.6 48.3 Incremental Risk Capital Charge (one-year) $ 269.7 $ 204.2 $ 269.7 $ 173.1 $ 232.6 $ 205.4 $ 219.5 $ 206.4 1 The aggregate VaR is less than the sum of the VaR of the different risk types due to risk offsets resulting from portfolio diversification. 2 Not meaningful. It is not meaningful to compute a diversification effect because the high and low may occur on different days for different risk types. |
Sensitivity of After-tax Economic Value at Risk by Currency | TABLE 29: SENSITIVITY OF AFTER-TAX VALUE-AT-RISK (millions of Canadian dollars) As at April 30, 2019 January 31, 2019 April 30, 2018 100 bps 100 bps 100 bps 100 bps 100 bps 100 bps Canadian dollar $ (66 ) $ – $ (58 ) $ 1 $ (37 ) $ (41 ) U.S. dollar (271 ) (274 ) (246 ) (150 ) (251 ) (11 ) $ (337 ) $ (274 ) $ (304 ) $ (149 ) $ (288 ) $ (52 ) |
Summary of Liquid Assets by Type and Currency | TABLE 30: SUMMARY OF LIQUID ASSETS BY TYPE AND CURRENCY 1 (millions of Canadian dollars, except as noted) As at Bank-owned Securities 2 Total % of Encumbered Unencumbered 2 April 30, 2019 Cash and due from banks $ 4,029 $ – $ 4,029 1 % $ 228 $ 3,801 Canadian government obligations 13,865 74,980 88,845 14 54,585 34,260 National Housing Act Mortgage-Backed Securities (NHA MBS) 41,792 34 41,826 7 3,232 38,594 Provincial government obligations 13,738 23,554 37,292 6 27,644 9,648 Corporate issuer obligations 8,293 3,952 12,245 2 3,659 8,586 Equities 11,290 3,030 14,320 2 10,139 4,181 Other marketable securities and/or loans 3,362 444 3,806 1 513 3,293 Total Canadian dollar-denominated 96,369 105,994 202,363 33 100,000 102,363 Cash and due from banks 24,424 – 24,424 4 32 24,392 U.S. government obligations 30,331 45,037 75,368 12 36,209 39,159 U.S. federal agency obligations, including U.S. federal agency mortgage-backed obligations 49,733 9,650 59,383 10 17,983 41,400 Other sovereign obligations 49,530 39,995 89,525 14 31,738 57,787 Corporate issuer obligations 81,125 2,199 83,324 14 7,030 76,294 Equities 37,944 36,871 74,815 12 38,888 35,927 Other marketable securities and/or loans 4,543 1 4,544 1 530 4,014 Total non-Canadian 277,630 133,753 411,383 67 132,410 278,973 Total $ 373,999 $ 239,747 $ 613,746 100 % $ 232,410 $ 381,336 October 31, 2018 Cash and due from banks $ 3,002 $ – $ 3,002 1 % $ 1,098 $ 1,904 Canadian government obligations 18,256 63,463 81,719 14 47,572 34,147 NHA MBS 39,649 42 39,691 6 3,057 36,634 Provincial government obligations 12,720 19,241 31,961 5 23,651 8,310 Corporate issuer obligations 6,622 3,767 10,389 2 3,769 6,620 Equities 10,554 1,637 12,191 2 6,028 6,163 Other marketable securities and/or loans 2,655 349 3,004 1 277 2,727 Total Canadian dollar-denominated 93,458 88,499 181,957 31 85,452 96,505 Cash and due from banks 24,046 – 24,046 4 28 24,018 U.S. government obligations 30,163 37,691 67,854 12 32,918 34,936 U.S. federal agency obligations, including U.S. federal agency mortgage-backed obligations 47,150 927 48,077 8 7,522 40,555 Other sovereign obligations 56,034 45,912 101,946 18 41,993 59,953 Corporate issuer obligations 78,160 1,576 79,736 14 7,234 72,502 Equities 33,514 37,666 71,180 12 32,206 38,974 Other marketable securities and/or loans 4,786 4 4,790 1 191 4,599 Total non-Canadian 273,853 123,776 397,629 69 122,092 275,537 Total $ 367,311 $ 212,275 $ 579,586 100 % $ 207,544 $ 372,042 1 Positions stated include gross asset values pertaining to secured borrowing/lending and reverse-repurchase/repurchase businesses. 2 Liquid assets include collateral received that can be re-hypothecated |
Summary of Unencumbered Liquid Assets by Bank, Subsidiaries, and Branches | TABLE 31: SUMMARY OF UNENCUMBERED LIQUID ASSETS BY BANK, SUBSIDIARIES, AND BRANCHES (millions of Canadian dollars) As at April 30 2019 October 31 The Toronto-Dominion Bank (Parent) $ 143,442 $ 136,544 Bank subsidiaries 222,088 217,565 Foreign branches 15,806 17,933 Total $ 381,336 $ 372,042 |
Summary of Deposit Funding | TABLE 38: SUMMARY OF DEPOSIT FUNDING (millions of Canadian dollars) As at April 30 2019 October 31 2018 P&C deposits – Canadian Retail $ 370,487 $ 359,473 P&C deposits – U.S. Retail 353,035 346,624 Other deposits 28 36 Total $ 723,550 $ 706,133 |
Summary of Remaining Contractual Maturity | TABLE 41: REMAINING CONTRACTUAL MATURITY (millions of Canadian dollars) As at April 30, 2019 Less than 1 to 3 3 to 6 6 to 9 9 months to 1 year Over 1 to Over 2 to Over No specific Total Assets Cash and due from banks $ 5,007 $ 2 $ – $ – $ – $ – $ – $ – $ – $ 5,009 Interest-bearing deposits with banks 27,325 299 385 – – – – – 444 28,453 Trading loans, securities, and other 1 2,517 3,675 2,919 2,392 3,338 9,466 25,282 21,519 61,697 132,805 Non-trading 13 27 467 – 61 1,227 792 878 737 4,202 Derivatives 3,988 6,008 3,097 3,312 1,882 5,890 9,330 10,117 – 43,624 Financial assets designated at fair value through profit or loss 107 141 52 98 111 334 1,769 767 – 3,379 Financial assets at fair value through other comprehensive income 2,078 5,541 4,252 2,927 5,451 20,887 50,072 32,021 1,880 125,109 Debt securities at amortized cost, net of allowance for credit losses 1,599 2,219 4,396 3,391 1,820 5,886 39,035 53,199 (1 ) 111,544 Securities purchased under reverse repurchase agreements 100,567 26,640 14,251 5,243 3,242 6 – – – 149,949 Loans Residential mortgages 1,084 6,540 10,680 8,658 10,025 42,282 112,590 35,399 – 227,258 Consumer instalment and other personal 977 2,192 3,416 3,270 3,838 15,628 57,159 26,956 61,272 174,708 Credit card – – – – – – – – 36,004 36,004 Business and government 27,573 4,640 6,602 7,342 6,489 22,820 71,468 61,667 20,822 229,423 Total loans 29,634 13,372 20,698 19,270 20,352 80,730 241,217 124,022 118,098 667,393 Allowance for loan losses – – – – – – – – (3,778 ) (3,778 ) Loans, net of allowance for loan losses 29,634 13,372 20,698 19,270 20,352 80,730 241,217 124,022 114,320 663,615 Customers' liability under acceptances 13,703 2,340 130 10 6 – – – – 16,189 Investment in TD Ameritrade – – – – – – – – 9,027 9,027 Goodwill 2 – – – – – – – – 17,232 17,232 Other intangibles 2 – – – – – – – – 2,623 2,623 Land, buildings, equipment, and other depreciable assets 2 – – – – – – – – 5,500 5,500 Deferred tax assets – – – – – – – – 2,136 2,136 Amounts receivable from brokers, dealers, and clients 18,954 – – – – – – – – 18,954 Other assets 3,411 916 348 130 2,669 206 226 97 9,235 17,238 Total assets $ 208,903 $ 61,180 $ 50,995 $ 36,773 $ 38,932 $ 124,632 $ 367,723 $ 242,620 $ 224,830 $ 1,356,588 Liabilities Trading deposits $ 9,045 $ 10,551 $ 18,936 $ 6,883 $ 1,123 $ 1,732 $ 4,371 $ 1,333 $ – $ 53,974 Derivatives 4,458 5,896 3,534 3,323 1,810 5,068 7,578 10,532 – 42,199 Securitization liabilities at fair value – 703 272 587 413 1,479 6,993 2,291 – 12,738 Financial liabilities designated at fair value through profit or loss 18,809 15,496 15,286 7,903 284 – – 5 – 57,783 Deposits 3,4 Personal 4,615 7,483 8,992 7,594 7,653 10,521 9,868 30 432,927 489,683 Banks 5,422 1,599 765 1,387 – – 3 7 10,486 19,669 Business and government 5 17,638 21,795 14,680 6,582 6,264 31,181 49,869 5,770 212,212 365,991 Total deposits 27,675 30,877 24,437 15,563 13,917 41,702 59,740 5,807 655,625 875,343 Acceptances 13,703 2,340 130 10 6 – – – – 16,189 Obligations related to securities sold short 1 75 856 1,069 1,000 1,512 6,920 10,666 13,507 760 36,365 Obligations related to securities sold under repurchase agreements 92,452 13,642 1,169 499 40 57 26 – – 107,885 Securitization liabilities at amortized cost – 503 572 511 1,277 1,976 5,911 3,270 – 14,020 Amounts payable to brokers, dealers, and clients 19,323 – – – – – – – – 19,323 Insurance-related liabilities 255 318 334 268 267 928 1,608 916 1,750 6,644 Other liabilities 6 3,905 1,050 1,283 1,120 1,618 3,678 1,125 148 6,332 20,259 Subordinated notes and debentures – – – – – – – 8,968 – 8,968 Equity – – – – – – – – 84,898 84,898 Total liabilities and equity $ 189,700 $ 82,232 $ 67,022 $ 37,667 $ 22,267 $ 63,540 $ 98,018 $ 46,777 $ 749,365 $ 1,356,588 Off-balance Credit and liquidity commitments 7,8 $ 19,270 $ 23,417 $ 17,106 $ 14,662 $ 13,522 $ 26,311 $ 105,994 $ 4,726 $ 1,316 $ 226,324 Operating lease commitments 81 164 245 244 242 928 2,320 3,553 – 7,777 Other purchase obligations 49 116 144 181 178 532 794 738 58 2,790 Unconsolidated structured entity commitments – 1,051 826 – 97 998 – – – 2,972 Total off-balance $ 19,400 $ 24,748 $ 18,321 $ 15,087 $ 14,039 $ 28,769 $ 109,108 $ 9,017 $ 1,374 $ 239,863 1 Amount has been recorded according to the remaining contractual maturity of the underlying security. 2 For the purposes of this table, non-financial 3 As the timing of demand deposits and notice deposits is non-specific 4 Includes $39 billion of covered bonds with remaining contractual maturities of $3 billion in 'over 1 month to 3 months', $2 billion in 'over 3 months to 6 months', $1 billion in 'over 6 months to 9 months', $2 billion in 'over 9 months to 1 year', $6 billion in 'over 1 to 2 years', $23 billion in 'over 2 to 5 years', and $2 billion in 'over 5 years'. 5 On May 9, 2019, TD Capital Trust IV announced its intention to redeem all of the outstanding TD Capital Trust IV Notes – Series 1 on June 30, 2019. 6 Includes $92 million of capital lease commitments with remaining contractual maturities of $2 million in 'less than 1 month', $4 million in '1 month to 3 months', $6 million in '3 months to 6 months', $5 million in '6 months to 9 months', $5 million in '9 months to 1 year', $20 million in 'over 1 to 2 years', $47 million in 'over 2 to 5 years', and $3 million in 'over 5 years'. 7 Includes $316 million in commitments to extend credit to private equity investments. 8 Commitments to extend credit exclude personal lines of credit and credit card lines, which are unconditionally cancellable at the Bank's discretion at any time. TABLE 41: REMAINING CONTRACTUAL MATURITY 1 (millions of Canadian dollars) As at October 31, 2018 Less than 1 to 3 3 to 6 6 to 9 9 months Over 1 to 2 years Over 2 to 5 years Over 5 years No specific Total Assets Cash and due from banks $ 4,733 $ 2 $ – $ – $ – $ – $ – $ – $ – $ 4,735 Interest-bearing deposits with banks 28,332 924 154 21 16 – – – 1,273 30,720 Trading loans, securities, and other 2 1,971 5,244 2,111 3,653 3,998 9,683 25,772 25,895 49,570 127,897 Non-trading – 12 99 460 906 227 841 848 622 4,015 Derivatives 7,343 9,263 5,275 3,276 2,321 7,130 12,436 9,952 – 56,996 Financial assets designated at fair value through profit or loss 30 95 535 243 90 297 1,532 796 – 3,618 Financial assets at fair value through other comprehensive income 1,111 4,214 4,150 5,354 3,962 19,777 57,922 31,936 2,174 130,600 Debt securities at amortized cost, net of allowance for credit losses 881 2,577 3,010 3,594 4,059 8,103 34,032 50,990 (75 ) 107,171 Securities purchased under reverse repurchase agreements 77,612 30,047 14,426 3,807 1,458 29 – – – 127,379 Loans Residential mortgages 908 3,234 6,614 11,166 11,061 43,063 113,852 35,293 – 225,191 Consumer instalment and other personal 753 1,332 2,628 3,724 4,131 14,313 56,632 26,321 62,245 172,079 Credit card – – – – – – – – 35,018 35,018 Business and government 23,052 4,320 5,539 7,131 9,269 19,637 67,922 59,251 21,533 217,654 Total loans 24,713 8,886 14,781 22,021 24,461 77,013 238,406 120,865 118,796 649,942 Allowance for loan losses – – – – – – – – (3,549 ) (3,549 ) Loans, net of allowance for loan losses 24,713 8,886 14,781 22,021 24,461 77,013 238,406 120,865 115,247 646,393 Customers' liability under acceptances 14,984 2,145 132 6 – – – – – 17,267 Investment in TD Ameritrade – – – – – – – – 8,445 8,445 Goodwill 3 – – – – – – – – 16,536 16,536 Other intangibles 3 – – – – – – – – 2,459 2,459 Land, buildings, equipment, and other depreciable assets 3 – – – – – – – – 5,324 5,324 Deferred tax assets – – – – – – – – 2,812 2,812 Amounts receivable from brokers, dealers, and clients 26,940 – – – – – – – – 26,940 Other assets 3,432 854 1,926 120 142 136 301 90 8,595 15,596 Total assets $ 192,082 $ 64,263 $ 46,599 $ 42,555 $ 41,413 $ 122,395 $ 371,242 $ 241,372 $ 212,982 $ 1,334,903 Liabilities Trading deposits $ 16,145 $ 37,337 $ 31,081 $ 12,954 $ 11,739 $ 1,183 $ 3,260 $ 1,005 $ – $ 114,704 Derivatives 6,195 8,684 4,230 3,103 2,263 5,510 9,282 9,003 – 48,270 Securitization liabilities at fair value – 981 194 661 272 1,822 6,719 1,969 – 12,618 Financial liabilities designated at fair value through profit or loss 10 5 – – – – – 1 – 16 Deposits 4,5 Personal 4,330 7,094 7,541 6,245 7,718 10,222 9,876 38 424,580 477,644 Banks 6,499 1,941 255 24 54 – 3 8 7,928 16,712 Business and government 18,840 19,337 7,033 9,984 11,299 21,345 54,780 8,000 206,465 357,083 Total deposits 29,669 28,372 14,829 16,253 19,071 31,567 64,659 8,046 638,973 851,439 Acceptances 14,986 2,145 132 6 – – – – – 17,269 Obligations related to securities sold short 2 2,621 3,679 1,500 387 904 4,330 13,771 11,474 812 39,478 Obligations related to securities sold under repurchase agreements 73,759 15,508 3,516 428 108 43 27 – – 93,389 Securitization liabilities at amortized cost 22 1,240 625 503 575 2,496 6,232 2,990 – 14,683 Amounts payable to brokers, dealers, and clients 28,385 – – – – – – – – 28,385 Insurance-related liabilities 213 294 353 309 310 937 1,624 903 1,755 6,698 Other liabilities 6 2,916 2,631 538 1,326 1,394 2,205 2,308 152 5,704 19,174 Subordinated notes and debentures – – – – – – – 8,740 – 8,740 Equity – – – – – – – – 80,040 80,040 Total liabilities and equity $ 174,921 $ 100,876 $ 56,998 $ 35,930 $ 36,636 $ 50,093 $ 107,882 $ 44,283 $ 727,284 $ 1,334,903 Off-balance Credit and liquidity commitments 7,8 $ 18,341 $ 16,732 $ 17,222 $ 13,105 $ 9,159 $ 25,720 $ 101,210 $ 5,260 $ 1,293 $ 208,042 Operating lease commitments 79 159 240 237 233 902 2,188 3,229 – 7,267 Other purchase obligations 46 163 131 128 127 460 898 524 – 2,477 Unconsolidated structured entity commitments – 1,079 940 329 – 7 408 – – 2,763 Total off-balance $ 18,466 $ 18,133 $ 18,533 $ 13,799 $ 9,519 $ 27,089 $ 104,704 $ 9,013 $ 1,293 $ 220,549 1 Certain comparative amounts have been recast to conform with the presentation adopted in the current period. 2 Amount has been recorded according to the remaining contractual maturity of the underlying security. 3 For the purposes of this table, non-financial 4 As the timing of demand deposits and notice deposits is non-specific 5 Includes $36 billion of covered bonds with remaining contractual maturities of $1 billion in '3 months to 6 months', $3 billion in '6 months to 9 months', $2 billion in '9 months to 1 year', $5 billion in 'over 1 to 2 years', $22 billion in 'over 2 to 5 years', and $3 billion in 'over 5 years'. 6 Includes $60 million of capital lease commitments with remaining contractual maturities of $2 million in 'less than 1 month', $5 million in '1 month to 3 months', $7 million in '3 months to 6 months', $6 million in '6 months to 9 months', $6 million in '9 months to 1 year', $12 million in 'over 1 to 2 years', $17 million in 'over 2 to 5 years', and $5 million in 'over 5 years'. 7 Includes $205 million in commitments to extend credit to private equity investments. 8 Commitments to extend credit exclude personal lines of credit and credit card lines, which are unconditionally cancellable at the Bank's discretion at any time. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Statement [LineItems] | |
Schedule of Financial Assets and Liabilities not Carried at Fair Value | Financial Assets and Liabilities not carried at Fair Value 1 (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Carrying Fair value Carrying Fair value FINANCIAL ASSETS Debt securities at amortized cost, net of allowance for credit losses Government and government-related securities $ 63,183 $ 63,073 $ 60,535 $ 59,948 Other debt securities 48,361 48,286 46,636 46,316 Total debt securities at amortized cost, net of allowance for credit losses 111,544 111,359 107,171 106,264 Total loans, net of allowance for loan losses 663,615 665,018 646,393 642,542 Total financial assets not carried at fair value $ 775,159 $ 776,377 $ 753,564 $ 748,806 FINANCIAL LIABILITIES Deposits $ 875,343 $ 875,840 $ 851,439 $ 846,148 Securitization liabilities at amortized cost 14,020 14,147 14,683 14,654 Subordinated notes and debentures 8,968 9,478 8,740 9,027 Total financial liabilities not carried at fair value $ 898,331 $ 899,465 $ 874,862 $ 869,829 1 This table excludes financial assets and liabilities where the carrying amount is a reasonable approximation of fair value. |
Schedule of Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities | The following tables reconcile changes in fair value of all assets and liabilities measured at fair value using significant Level 3 non-observable Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (millions of Canadian dollars) Fair Total realized and Movements Transfers Fair value as at Change in 5 Included 1 Included 2 , 3 Purchases Issuances Other 4 Into Out of FINANCIAL ASSETS Trading loans, securities, and other Government and government- related securities Canadian government debt Provinces $ – $ (1 ) $ – $ – $ – $ – $ 47 $ – $ 46 $ (1 ) Other debt securities Canadian issuers 1 – – – – – 1 – 2 – Other issuers 9 – – – – (9 ) 18 – 18 – 10 (1 ) – – – (9 ) 66 – 66 (1 ) Non-trading Securities 495 56 1 65 – (170 ) – – 447 5 Loans 21 – – – – (1 ) – – 20 – 516 56 1 65 – (171 ) – – 467 5 Financial assets at fair value through other comprehensive income Government and government- related securities Other OECD government guaranteed debt 210 14 – – – (224 ) – – – – Other debt securities Asset-backed securities 559 – – – – – – (559 ) – – Corporate and other debt 23 – – – – – – – 23 – Equity securities Common shares 1,495 – (1 ) 14 – 24 – – 1,532 (1 ) Preferred shares 57 – (8 ) 1 – – – – 50 (9 ) $ 2,344 $ 14 $ (9 ) $ 15 $ – $ (200 ) $ – $ (559 ) $ 1,605 $ (10 ) Fair February 1 2019 Total realized and Movements Transfers Fair April 30 Change in 5 Included 1 Included 3 Purchases Issuances Other 4 Into Out of FINANCIAL LIABILITIES Trading deposits 6 $ 3,465 $ 188 $ – $ (315 ) $ 397 $ (56 ) $ – $ – $ 3,679 $ 189 Derivatives 7 Interest rate contracts 64 12 – – – 1 – – 77 11 Foreign exchange contracts (2 ) – – – – – 4 – 2 – Equity contracts 699 190 – (21 ) 58 (101 ) – – 825 179 Commodity contracts 8 (34 ) – – – 11 – – (15 ) (23 ) 769 168 – (21 ) 58 (89 ) 4 – 889 167 Financial liabilities designated at fair value through profit or loss 3 (18 ) – – 32 (4 ) – – 13 (14 ) Obligations related to securities sold short – – – – – – – – – – 1 Gains (losses) on financial assets and liabilities are recognized in Net securities gains (losses), Trading income (loss), and Other income (loss) on the Interim Consolidated Statement of Income. 2 Other comprehensive income. 3 Includes realized gains (losses) transferred to retained earnings on disposal of equities designated at fair value through other comprehensive income (FVOCI). Refer to Note 5 for further details. 4 Consists of sales, settlements, and foreign exchange. 5 Changes in unrealized gains (losses) on financial assets at FVOCI are recognized in accumulated other comprehensive income (AOCI). 6 Issuances and repurchases of trading deposits are reported on a gross basis. 7 As at April 30, 2019, consists of derivative assets of $0.6 billion (February 1, 2019 – $0.5 billion) and derivative liabilities of $1.5 billion (February 1, 2019 – $1.3 billion), which have been netted on this table for presentation purposes only. Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (millions of Canadian dollars) Fair Total realized and Movements Transfers Fair value as at Change in 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL ASSETS Trading loans, securities, and other Government and government- related securities Canadian government debt Provinces $ 3 $ (1 ) $ – $ – $ – $ (3 ) $ 47 $ – $ 46 $ (1 ) Other debt securities Canadian issuers 1 – – – – – 1 – 2 – Other issuers 16 1 – – – (17 ) 19 (1 ) 18 – 20 – – – – (20 ) 67 (1 ) 66 (1 ) Non-trading Securities 408 58 2 136 – (178 ) 21 – 447 6 Loans 19 1 – 1 – (1 ) – – 20 1 427 59 2 137 – (179 ) 21 – 467 7 Financial assets at fair value through other comprehensive income Government and government-related Other OECD government guaranteed debt 200 24 – – – (224 ) – – – – Other debt securities Asset-backed securities 562 – – – – – – (562 ) – – Corporate and other debt 24 – (1 ) – – – – – 23 (1 ) Equity securities Common shares 1,492 – – 19 – 21 – – 1,532 (1 ) Preferred shares 135 – (11 ) 1 – (74 ) – (1 ) 50 (17 ) $ 2,413 $ 24 $ (12 ) $ 20 $ – $ (277 ) $ – $ (563 ) $ 1,605 $ (19 ) Fair Total realized and Movements Transfers Fair Change in 5 Included 1 Included 2 Purchases Issuances Other 4 Into Out of FINANCIAL LIABILITIES Trading deposits 5 $ 3,024 $ 287 $ – $ (391 ) $ 769 $ (10 ) $ – $ – $ 3,679 $ 255 Derivatives 6 Interest rate contracts 63 16 – – – (2 ) – – 77 15 Foreign exchange contracts (1 ) 1 – – – (2 ) 4 – 2 – Equity contracts 624 295 – (40 ) 115 (169 ) – – 825 281 Commodity contracts (27 ) 4 – – – 8 – – (15 ) (3 ) 659 316 – (40 ) 115 (165 ) 4 – 889 293 Financial liabilities designated at fair value through profit or loss 14 (40 ) – – 49 (10 ) – – 13 (30 ) Obligations related to securities sold short – – – – – – – – – – 1 Gains (losses) on financial assets and liabilities are recognized in Net securities gains (losses), Trading income (loss), and Other income (loss) on the Interim Consolidated Statement of Income. 2 Includes realized gains (losses) transferred to retained earnings on disposal of equities designated at FVOCI. Refer to Note 5 for further details. 3 Consists of sales, settlements, and foreign exchange. 4 Changes in unrealized gains (losses) on financial assets at FVOCI are recognized in AOCI. 5 Issuances and repurchases of trading deposits are reported on a gross basis. 6 As at April 30, 2019, consists of derivative assets of $0.6 billion (November 1, 2018 – $0.5 billion) and derivative liabilities of $1.5 billion (November 1, 2018 – $1.2 billion), which have been netted on this table for presentation purposes only. Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (millions of Canadian dollars) Fair Total realized and Movements Transfers Fair value as at Change in 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL ASSETS Trading loans, securities, and other Government and government- related securities Canadian government debt Provinces $ – $ – $ – $ – $ – $ – $ – $ – $ – $ – Other debt securities Canadian issuers 1 – – – – – – – 1 – Other issuers 121 (1 ) – – – 5 24 – 149 4 122 (1 ) – – – 5 24 – 150 4 Non-trading Securities 324 11 – 13 – 8 – – 356 11 Loans 18 1 – – – – – – 19 1 342 12 – 13 – 8 – – 375 12 Financial assets at fair value through other comprehensive income Government and government- related securities Other OECD government guaranteed debt 193 11 – – – – – – 204 (3 ) Other debt securities Asset-backed securities 529 – (3 ) – – 23 – – 549 (3 ) Corporate and other debt 99 3 1 – – – – – 103 1 Equity securities Common shares 1,404 – (3 ) 1 – 53 – – 1,455 (2 ) Preferred shares 116 – 13 – – 1 – – 130 13 $ 2,341 $ 14 $ 8 $ 1 $ – $ 77 $ – $ – $ 2,441 $ 6 Fair Total realized and Movements Transfers Fair Change in 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL LIABILITIES Trading deposits 5 $ 2,875 $ (40 ) $ – $ (69 ) $ 463 $ (285 ) $ 4 $ (8 ) $ 2,940 $ (20 ) Derivatives 6 Interest rate contracts 51 17 – – – 1 – – 69 20 Foreign exchange contracts (1 ) 1 – – – (1 ) – – (1 ) – Equity contracts 842 (62 ) – (28 ) 64 (105 ) – – 711 (73 ) Commodity contracts (8 ) (18 ) – – – 3 – – (23 ) (17 ) 884 (62 ) – (28 ) 64 (102 ) – – 756 (70 ) Financial liabilities designated at fair value through profit or loss 29 (13 ) – – 34 (34 ) – – 16 (14 ) Obligations related to securities sold short – – – – – – 4 – 4 – 1 Gains (losses) on financial assets and liabilities are recognized in Net securities gains (losses), Trading income (loss), and Other income (loss) on the Interim Consolidated Statement of Income. 2 Includes realized gains (losses) transferred to retained earnings on disposal of equities designated at FVOCI. Refer to Note 5 for further details. 3 Consists of sales, settlements, and foreign exchange. 4 Changes in unrealized gains (losses) on financial assets at FVOCI are recognized in AOCI. 5 Issuances and repurchases of trading deposits are reported on a gross basis. 6 As at April 30, 2018, consists of derivative assets of $0.7 billion (February 1, 2018 – $0.9 billion) and derivative liabilities of $1.4 billion (February 1, 2018 – $1.8 billion), which have been netted on this table for presentation purposes only. Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (millions of Canadian dollars) Fair value as at November 1 Total realized and unrealized gains (losses) Movements Transfers Fair value as at April 30 2018 Change in unrealized gains (losses) on instruments 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL ASSETS Trading loans, securities, and other Government and government- related securities Canadian government debt Provinces $ – $ – $ – $ – $ – $ – $ – $ – $ – $ – Other debt securities Canadian issuers 6 – – – – (4 ) 1 (2 ) 1 – Other issuers 8 (1 ) – 2 – 4 145 (9 ) 149 4 14 (1 ) – 2 – – 146 (11 ) 150 4 Non-trading Securities 305 27 – 26 – (2 ) – – 356 23 Loans 15 (2 ) – 2 – – 4 – 19 (2 ) 320 25 – 28 – (2 ) 4 – 375 21 Financial assets at fair value through other comprehensive income Government and government- related securities Other OECD government guaranteed debt 203 4 (3 ) – – – – – 204 (3 ) Other debt securities Asset-backed securities 553 – (1 ) – – (3 ) – – 549 (1 ) Corporate and other debt 95 4 6 – – (2 ) – – 103 6 Equity securities Common shares 1,469 – (2 ) 7 – (19 ) – – 1,455 (4 ) Preferred shares 108 – 21 – – 1 – – 130 21 $ 2,428 $ 8 $ 21 $ 7 $ – $ (23 ) $ – $ – $ 2,441 $ 19 Fair value as at November 1 Total realized and unrealized losses (gains) Movements Transfers Fair value as at April 30 2018 Change in unrealized losses instruments 4 Included 1 Included 2 Purchases Issuances Other 3 Into Out of FINANCIAL LIABILITIES Trading deposits 5 $ 2,521 $ (7 ) $ – $ (210 ) $ 1,099 $ (449 ) $ 4 $ (18 ) $ 2,940 $ (28 ) Derivatives 6 Interest rate contracts 70 – – – – (1 ) – – 69 1 Foreign exchange contracts (1 ) – – – – – – – (1 ) – Equity contracts 893 (70 ) – (47 ) 102 (169 ) – 2 711 (74 ) Commodity contracts (2 ) (25 ) – – – 4 – – (23 ) (21 ) 960 (95 ) – (47 ) 102 (166 ) – 2 756 (94 ) Financial liabilities designated at fair value through profit or loss 7 19 – – 59 (69 ) – – 16 12 Obligations related to securities sold short – – – – – – 4 – 4 – 1 Gains (losses) on financial assets and liabilities are recognized in Net securities gains (losses), Trading income (loss), and Other income (loss) on the Interim Consolidated Statement of Income. 2 Includes realized gains (losses) transferred to retained earnings on disposal of equities designated at FVOCI. Refer to Note 5 for further details. 3 Consists of sales, settlements, and foreign exchange. 4 Changes in unrealized gains (losses) on financial assets at FVOCI are recognized in AOCI. 5 Issuances and repurchases of trading deposits are reported on a gross basis. 6 As at April 30, 2018, consists of derivative assets of $0.7 billion (November 1, 2017 – $0.9 billion) and derivative liabilities of $1.4 billion (November 1, 2017 – $1.9 billion), which have been netted on this table for presentation purposes only. |
At fair value [member] | |
Statement [LineItems] | |
Schedule of Fair Value Hierarchy for Assets and Liabilities | The following table presents the levels within the fair value hierarchy for each of the assets and liabilities measured at fair value on a recurring basis as at April 30, 2019 and October 31, 2018. Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Level 1 Level 2 Level 3 Total 1 Level 1 Level 2 Level 3 Total 1 FINANCIAL ASSETS AND COMMODITIES Trading loans, securities, and other 2 Government and government-related securities Canadian government debt Federal $ 786 $ 9,127 $ – $ 9,913 $ 127 $ 14,335 $ – $ 14,462 Provinces – 7,865 46 7,911 – 7,535 3 7,538 U.S. federal, state, municipal governments, and agencies debt – 16,050 – 16,050 – 19,732 – 19,732 Other OECD government guaranteed debt – 4,149 – 4,149 – 3,324 – 3,324 Mortgage-backed securities – 2,054 – 2,054 – 2,029 – 2,029 Other debt securities Canadian issuers – 5,973 2 5,975 – 5,630 1 5,631 Other issuers – 13,578 18 13,596 – 14,459 16 14,475 Equity securities Common shares 49,784 131 – 49,915 43,699 53 – 43,752 Preferred shares 57 – – 57 33 26 – 59 Trading loans – 11,335 – 11,335 – 10,990 – 10,990 Commodities 11,549 279 – 11,828 5,540 340 – 5,880 Retained interests – 22 – 22 – 25 – 25 62,176 70,563 66 132,805 49,399 78,478 20 127,897 Non-trading Securities 190 2,567 447 3,204 176 2,095 408 2,679 Loans – 978 20 998 – 1,317 19 1,336 190 3,545 467 4,202 176 3,412 427 4,015 Derivatives Interest rate contracts 31 11,775 – 11,806 33 12,365 – 12,398 Foreign exchange contracts 41 28,753 6 28,800 24 39,647 4 39,675 Credit contracts – 14 – 14 – 9 – 9 Equity contracts – 1,305 525 1,830 – 3,170 453 3,623 Commodity contracts 127 1,019 28 1,174 144 1,112 35 1,291 199 42,866 559 43,624 201 56,303 492 56,996 Financial assets designated at fair value through profit or loss Securities 2 – 3,379 – 3,379 – 3,618 – 3,618 – 3,379 – 3,379 – 3,618 – 3,618 Financial assets at fair value through other comprehensive income Government and government-related securities Canadian government debt Federal – 11,009 – 11,009 – 12,731 – 12,731 Provinces – 11,763 – 11,763 – 9,507 – 9,507 U.S. federal, state, municipal governments, and agencies debt – 45,252 – 45,252 – 45,766 – 45,766 Other OECD government guaranteed debt – 18,177 – 18,177 – 19,896 200 20,096 Mortgage-backed securities – 6,096 – 6,096 – 6,633 – 6,633 Other debt securities Asset-backed securities – 20,036 – 20,036 – 21,407 562 21,969 Non-agency – 311 – 311 – 472 – 472 Corporate and other debt – 8,245 23 8,268 – 8,483 24 8,507 Equity securities Common shares 84 2 1,532 1,618 309 3 1,492 1,804 Preferred shares 208 3 50 261 235 – 135 370 Loans – 2,318 – 2,318 – 2,745 – 2,745 292 123,212 1,605 125,109 544 127,643 2,413 130,600 Securities purchased under reverse repurchase agreements – 4,796 – 4,796 – 3,920 – 3,920 FINANCIAL LIABILITIES Trading deposits – 50,295 3,679 53,974 – 111,680 3,024 114,704 Derivatives Interest rate contracts 28 10,420 77 10,525 24 9,646 63 9,733 Foreign exchange contracts 29 26,121 8 26,158 18 34,897 3 34,918 Credit contracts – 418 – 418 – 386 – 386 Equity contracts – 2,794 1,350 4,144 – 1,319 1,077 2,396 Commodity contracts 113 828 13 954 134 695 8 837 170 40,581 1,448 42,199 176 46,943 1,151 48,270 Securitization liabilities at fair value – 12,738 – 12,738 – 12,618 – 12,618 Financial liabilities designated at fair value through profit or loss – 57,770 13 57,783 – 2 14 16 Obligations related to securities sold short 2 787 35,578 – 36,365 1,142 38,336 – 39,478 Obligations related to securities sold under repurchase agreements – 1,893 – 1,893 – 3,797 – 3,797 1 Fair value is the same as carrying value. 2 Balances reflect the reduction of securities owned (long positions) by the amount of identical securities sold but not yet purchased (short positions). |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Summary of Unrealized Gains and Losses | The following table summarizes the unrealized gains and losses as at April 30, 2019 and October 31, 2018. Unrealized Gains (Losses) for Securities at Fair Value Through Other Comprehensive Income (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Cost/ 1 Gross Gross Fair Cost/ 1 Gross Gross Fair value Securities at Fair Value Through Other Comprehensive Income Government and government-related securities Canadian government debt Federal $ 10,978 $ 34 $ (3 ) $ 11,009 $ 12,740 $ 38 $ (47 ) $ 12,731 Provinces 11,705 78 (20 ) 11,763 9,443 75 (11 ) 9,507 U.S. federal, state, municipal governments, and agencies debt 45,226 156 (130 ) 45,252 45,857 265 (356 ) 45,766 Other OECD government guaranteed debt 18,131 50 (4 ) 18,177 20,034 65 (3 ) 20,096 Mortgage-backed securities 6,051 45 – 6,096 6,575 59 (1 ) 6,633 92,091 363 (157 ) 92,297 94,649 502 (418 ) 94,733 Other debt securities Asset-backed securities 20,000 61 (25 ) 20,036 21,901 87 (19 ) 21,969 Non-agency 311 – – 311 471 1 – 472 Corporate and other debt 8,257 36 (25 ) 8,268 8,534 31 (58 ) 8,507 28,568 97 (50 ) 28,615 30,906 119 (77 ) 30,948 Total debt securities 120,659 460 (207 ) 120,912 125,555 621 (495 ) 125,681 Equity securities Common shares 1,616 30 (28 ) 1,618 1,725 118 (39 ) 1,804 Preferred shares 305 5 (49 ) 261 376 20 (26 ) 370 1,921 35 (77 ) 1,879 2,101 138 (65 ) 2,174 Total securities at fair value through other comprehensive income $ 122,580 $ 495 $ (284 ) $ 122,791 $ 127,656 $ 759 $ (560 ) $ 127,855 1 Includes the foreign exchange translation of amortized cost balances at the period-end |
Summary of Equity Securities Designated at Fair Value Through Other Comprehensive Income | Equity Securities Designated at Fair Value Through Other Comprehensive Income (millions of Canadian dollars) As at For the three months ended For the six months ended April 30, 2019 October 31, 2018 April 30, 2019 April 30, 2018 April 30, 2019 April 30, 2018 Fair value Dividend income recognized Dividend income recognized Common shares $ 1,618 $ 1,804 $ 20 $ 17 $ 40 $ 33 Preferred shares 261 370 3 4 7 8 Total $ 1,879 $ 2,174 $ 23 $ 21 $ 47 $ 41 |
Summary of Net Securities Gains (Losses) | Net Securities Gains (Losses) (millions of Canadian dollars) For the three months ended For the six months ended April 30 April 30 April 30 April 30 Debt securities at amortized cost Net realized gains (losses) $ – $ 30 $ 44 $ 30 Debt securities at fair value through other comprehensive income Net realized gains (losses) 35 3 (20 ) 6 Total $ 35 $ 33 $ 24 $ 36 |
Summary of Debt Securities by Risk Rating | The following table provides the gross carrying amounts of debt securities measured at amortized cost and debt securities at FVOCI by internal risk ratings for credit risk management purposes, presenting separately those debt securities that are subject to Stage 1, Stage 2, and Stage 3 allowances. Debt Securities by Risk Ratings (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Debt securities Investment grade $ 230,279 $ – $ n/a $ 230,279 $ 230,488 $ – $ n/a $ 230,488 Non-Investment 2,138 40 n/a 2,178 2,140 54 n/a 2,194 Watch and classified n/a – n/a – n/a 11 n/a 11 Default n/a n/a – – n/a n/a 234 234 Total debt securities 232,417 40 – 232,457 232,628 65 234 232,927 Allowance for credit losses on debt securities at amortized cost 1 – – 1 1 4 70 75 Debt securities, net of allowance $ 232,416 $ 40 $ – $ 232,456 $ 232,627 $ 61 $ 164 $ 232,852 |
Loans, Impaired Loans, and Al_2
Loans, Impaired Loans, and Allowance for Credit Losses (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Summary of Gross Carrying Amounts of Loans and Credit Risk Exposures on Loan Commitments and Financial Guarantee Contracts by Internal Risk Ratings | Loans by Risk Ratings (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Residential mortgages 1,2,3 Low Risk $ 174,308 $ 55 $ n/a $ 174,363 $ 168,690 $ 32 $ n/a $ 168,722 Normal Risk 42,707 240 n/a 42,947 47,821 176 n/a 47,997 Medium Risk 6,156 484 n/a 6,640 5,106 267 n/a 5,373 High Risk 984 1,393 304 2,681 892 1,264 317 2,473 Default n/a n/a 415 415 n/a n/a 392 392 Total 224,155 2,172 719 227,046 222,509 1,739 709 224,957 Allowance for loan losses 27 32 47 106 24 34 47 105 Loans, net of allowance 224,128 2,140 672 226,940 222,485 1,705 662 224,852 Consumer instalment and other personal 4 Low Risk 91,848 995 n/a 92,843 87,906 983 n/a 88,889 Normal Risk 43,448 1,035 n/a 44,483 48,008 1,190 n/a 49,198 Medium Risk 25,812 1,020 n/a 26,832 23,008 1,063 n/a 24,071 High Risk 7,016 2,403 576 9,995 6,158 2,386 817 9,361 Default n/a n/a 516 516 n/a n/a 514 514 Total 168,124 5,453 1,092 174,669 165,080 5,622 1,331 172,033 Allowance for loan losses 621 357 179 1,157 574 349 178 1,101 Loans, net of allowance 167,503 5,096 913 173,512 164,506 5,273 1,153 170,932 Credit card Low Risk 7,033 15 n/a 7,048 7,234 11 n/a 7,245 Normal Risk 9,987 82 n/a 10,069 9,780 66 n/a 9,846 Medium Risk 11,791 305 n/a 12,096 11,347 246 n/a 11,593 High Risk 4,769 1,566 334 6,669 4,435 1,445 333 6,213 Default n/a n/a 122 122 n/a n/a 121 121 Total 33,580 1,968 456 36,004 32,796 1,768 454 35,018 Allowance for loan losses 400 309 382 1,091 379 283 341 1,003 Loans, net of allowance 33,180 1,659 74 34,913 32,417 1,485 113 34,015 Business and government 1,2,3,5 Investment grade or Low/Normal Risk 119,732 47 n/a 119,779 118,414 57 n/a 118,471 Non-Investment 116,478 5,186 n/a 121,664 108,678 5,272 n/a 113,950 Watch and classified or High Risk 732 4,595 104 5,431 666 3,746 97 4,509 Default n/a n/a 925 925 n/a n/a 563 563 Total 236,942 9,828 1,029 247,799 227,758 9,075 660 237,493 Allowance for loan losses 643 599 166 1,408 651 551 120 1,322 Loans, net of allowance 236,299 9,229 863 246,391 227,107 8,524 540 236,171 Total loans excluding acquired credit-impaired loans 5 662,801 19,421 3,296 685,518 648,143 18,204 3,154 669,501 Allowance for loan losses 1,691 1,297 774 3,762 1,628 1,217 686 3,531 Loans, net of allowance 5 661,110 18,124 2,522 681,756 646,515 16,987 2,468 665,970 Acquired credit-impaired loans n/a n/a 382 382 n/a n/a 453 453 Allowance for loan losses n/a n/a 16 16 n/a n/a 18 18 Loans, net of allowance n/a n/a 366 366 n/a n/a 435 435 Total loans 5 662,801 19,421 3,678 685,900 648,143 18,204 3,607 669,954 Total allowance for loan losses 1,691 1,297 790 3,778 1,628 1,217 704 3,549 Total loans, net of allowance 5 $ 661,110 $ 18,124 $ 2,888 $ 682,122 $ 646,515 $ 16,987 $ 2,903 $ 666,405 1 As at April 30, 2019, impaired loans with a balance of $138 million (October 31, 2018 – $124 million) did not have a related allowance for loan losses. An allowance was not required for these loans as the balance relates to loans where the realizable value of the collateral exceeded the loan amount. 2 As at April 30, 2019, excludes trading loans and non-trading 3 As at April 30, 2019, includes insured mortgages of $91 billion (October 31, 2018 – $95 billion). 4 As at April 30, 2019, includes Canadian government-insured real estate personal loans of $14 billion (October 31, 2018 – $14 billion). 5 As at April 30, 2019, includes loans that are measured at FVOCI of $2 billion (October 31, 2018 – $3 billion) and customers' liability under acceptances of $16 billion (October 31, 2018 – $17 billion). Loans by Risk Ratings – Off-Balance Sheet Credit Instruments (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Retail Exposures 1 Low Risk $ 261,329 $ 829 $ n/a $ 262,158 $ 246,575 $ 2,576 $ n/a $ 249,151 Normal Risk 52,244 607 n/a 52,851 51,961 1,129 n/a 53,090 Medium Risk 13,073 368 n/a 13,441 12,298 469 n/a 12,767 High Risk 1,754 895 – 2,649 1,765 638 – 2,403 Default n/a n/a – – n/a n/a – – Non-Retail 2 Investment grade 176,875 – n/a 176,875 167,993 323 n/a 168,316 Non-Investment 62,865 2,652 n/a 65,517 60,002 2,309 n/a 62,311 Watch and classified 3 2,065 – 2,068 13 1,949 – 1,962 Default n/a n/a – – n/a n/a – – Total off-balance 568,143 7,416 – 575,559 540,607 9,393 – 550,000 Allowance for off-balance 580 525 – 1,105 550 479 – 1,029 Total off-balance $ 567,563 $ 6,891 $ – $ 574,454 $ 540,057 $ 8,914 $ – $ 548,971 1 As at April 30, 2019, includes $307 billion (October 31, 2018 – $302 billion) of personal lines of credit and credit card lines, which are unconditionally cancellable at the Bank's discretion at any time. 2 As at April 30, 2019, includes $39 billion (October 31, 2018 – $37 billion) of the undrawn component of uncommitted credit and liquidity facilities. |
Summary of Allowance for Credit Losses | The changes to the Bank's allowance for loan losses, as at and for the three and six months ended April 30, 2019 and April 30, 2018, are shown in the following tables. Allowance for Loan Losses (millions of Canadian dollars) For the three months ended April 30, 2019 April 30, 2018 Stage 1 Stage 2 Stage 3 Acquired credit- impaired loans Total Stage 1 Stage 2 Stage 3 Acquired credit- impaired loans Total Residential Mortgages Balance at beginning of period $ 25 $ 30 $ 48 $ 4 $ 107 $ 23 $ 22 $ 39 $ 7 $ 91 Provision for credit losses Transfer to Stage 1 1 4 (4 ) – – – 5 (5 ) – – – Transfer to Stage 2 (1 ) 3 (2 ) – – (1 ) 2 (1 ) – – Transfer to Stage 3 – (2 ) 2 – – – (2 ) 2 – – Net remeasurement due to transfers 2 (2 ) 2 – – – (3 ) 1 – – (2 ) New originations or purchases 3 2 n/a n/a – 2 2 n/a n/a – 2 Net repayments 4 – – – – – – – – (1 ) (1 ) Derecognition of financial assets (excluding disposals and write-offs) 5 – (1 ) (4 ) – (5 ) (1 ) – (1 ) – (2 ) Changes to risk, parameters, and models 6 (1 ) 4 9 – 12 (2 ) 5 7 – 10 Disposals – – – – – – – – – – Write-offs – – (6 ) – (6 ) – – (7 ) – (7 ) Recoveries – – – – – – – 1 – 1 Foreign exchange and other adjustments – – – – – – 1 1 1 3 Balance at end of period $ 27 $ 32 $ 47 $ 4 $ 110 $ 23 $ 24 $ 41 $ 7 $ 95 Consumer Instalment and Other Personal Balance, including off-balance $ 598 $ 413 $ 181 $ 2 $ 1,194 $ 535 $ 381 $ 179 $ 5 $ 1,100 Provision for credit losses Transfer to Stage 1 1 84 (80 ) (4 ) – – 77 (73 ) (4 ) – – Transfer to Stage 2 (28 ) 39 (11 ) – – (27 ) 38 (11 ) – – Transfer to Stage 3 (4 ) (54 ) 58 – – (9 ) (43 ) 52 – – Net remeasurement due to transfers 2 (34 ) 38 2 – 6 (31 ) 29 2 – – New originations or purchases 3 73 n/a n/a – 73 72 n/a n/a – 72 Net repayments 4 (22 ) (8 ) (3 ) – (33 ) (13 ) (7 ) (6 ) (1 ) (27 ) Derecognition of financial assets (excluding disposals and write-offs) 5 (18 ) (26 ) (18 ) – (62 ) (29 ) (20 ) (11 ) – (60 ) Changes to risk, parameters, and models 6 (7 ) 74 183 – 250 (14 ) 70 167 (1 ) 222 Disposals – – – – – – – – – – Write-offs – – (280 ) – (280 ) – – (263 ) – (263 ) Recoveries – – 68 – 68 – – 61 1 62 Foreign exchange and other adjustments 5 5 3 – 13 11 7 4 – 22 Balance, including off-balance 647 401 179 2 1,229 572 382 170 4 1,128 Less: Allowance for off-balance 7 26 44 – – 70 25 46 – – 71 Balance at end of period $ 621 $ 357 $ 179 $ 2 $ 1,159 $ 547 $ 336 $ 170 $ 4 $ 1,057 Credit Card 8 Balance, including off-balance $ 865 $ 635 $ 389 $ – $ 1,889 $ 737 $ 585 $ 341 $ – $ 1,663 Provision for credit losses Transfer to Stage 1 1 164 (155 ) (9 ) – – 130 (120 ) (10 ) – – Transfer to Stage 2 (55 ) 72 (17 ) – – (39 ) 54 (15 ) – – Transfer to Stage 3 (8 ) (149 ) 157 – – (8 ) (113 ) 121 – – Net remeasurement due to transfers 2 (55 ) 75 9 – 29 (46 ) 54 9 – 17 New originations or purchases 3 35 n/a n/a – 35 45 n/a n/a – 45 Net repayments 4 (1 ) (1 ) 5 – 3 13 (12 ) 17 – 18 Derecognition of financial assets (excluding disposals and write-offs) 5 (27 ) (33 ) (131 ) – (191 ) (31 ) (27 ) (117 ) – (175 ) Changes to risk, parameters, and models 6 (50 ) 176 339 – 465 (52 ) 150 308 – 406 Disposals – – – – – (4 ) (4 ) (2 ) – (10 ) Write-offs – – (443 ) – (443 ) – – (385 ) – (385 ) Recoveries – – 78 – 78 – – 68 – 68 Foreign exchange and other adjustments 12 7 5 – 24 19 15 13 – 47 Balance, including off-balance 880 627 382 – 1,889 764 582 348 – 1,694 Less: Allowance for off-balance 7 480 318 – – 798 393 264 – – 657 Balance at end of period $ 400 $ 309 $ 382 $ – $ 1,091 $ 371 $ 318 $ 348 $ – $ 1,037 1 Transfers represent stage transfer movements prior to expected credit loss (ECL) remeasurement. 2 Represents the remeasurement between twelve-month and lifetime ECLs due to stage transfers, excluding the change to risk, parameters, and models. 3 Represents the increase in the allowance resulting from loans that were newly originated, purchased, or renewed. 4 Represents the changes in the allowance related to cash flow changes associated with new draws or repayments on loans outstanding. 5 Represents the decrease in the allowance resulting from loans that were fully repaid and excludes the decrease associated with loans that were disposed or fully written off. 6 Represents the change in the allowance related to changes in risk including changes to macroeconomic factors, level of risk, associated parameters, and models. 7 The allowance for loan losses for off-balance 8 Credit cards are considered impaired and migrate to Stage 3 when they are 90 days past due and written off at 180 days past due. Refer to Note 2 of the Bank's 2018 Annual Consolidated Financial Statements for further details. Allowance for Loan Losses 1 (millions of Canadian dollars) For the three months ended April 30, 2019 April 30, 2018 Stage 1 Stage 2 Stage 3 Acquired Total Stage 1 Stage 2 Stage 3 Acquired impaired Total Business and Government Balance, including off-balance $ 725 $ 711 $ 162 $ 10 $ 1,608 $ 663 $ 628 $ 153 $ 14 $ 1,458 Provision for credit losses Transfer to Stage 1 2 41 (40 ) (1 ) – – 38 (37 ) (1 ) – – Transfer to Stage 2 (38 ) 40 (2 ) – – (36 ) 38 (2 ) – – Transfer to Stage 3 (2 ) (29 ) 31 – – (2 ) (13 ) 15 – – Net remeasurement due to transfers 2 (14 ) 27 1 – 14 (11 ) 17 1 – 7 New originations or purchases 2 104 n/a n/a – 104 119 n/a n/a – 119 Net repayments 2 (5 ) (10 ) (4 ) 1 (18 ) (5 ) (12 ) (2 ) 1 (18 ) Derecognition of financial assets (excluding disposals and write-offs) 2 (74 ) (73 ) (25 ) – (172 ) (102 ) (95 ) (17 ) (1 ) (215 ) Changes to risk, parameters, and models 2 (31 ) 127 31 (4 ) 123 9 95 23 (3 ) 124 Disposals – – – – – – – – – – Write-offs – – (40 ) – (40 ) – – (41 ) – (41 ) Recoveries – – 11 2 13 – – 16 1 17 Foreign exchange and other adjustments 11 9 2 1 23 23 18 4 1 46 Balance, including off-balance 717 762 166 10 1,655 696 639 149 13 1,497 Less: Allowance for off-balance 3 74 163 – – 237 70 67 – – 137 Balance at end of period 643 599 166 10 1,418 626 572 149 13 1,360 Total Allowance for Loan Losses at end of period $ 1,691 $ 1,297 $ 774 $ 16 $ 3,778 $ 1,567 $ 1,250 $ 708 $ 24 $ 3,549 1 Includes the allowance for credit losses related to customers' liability under acceptances. 2 For explanations regarding this line item, refer to the "Allowance for Loan Losses" table on the previous page in this Note. 3 The allowance for loan losses for off-balance Allowance for Loan Losses (millions of Canadian dollars) For the six months ended April 30, 2019 April 30, 2018 Stage 1 Stage 2 Stage 3 Acquired impaired Total Stage 1 Stage 2 Stage 3 Acquired Total Residential Mortgages Balance at beginning of period $ 24 $ 34 $ 47 $ 5 $ 110 $ 24 $ 26 $ 45 $ 12 $ 107 Provision for credit losses Transfer to Stage 1 1 17 (16 ) (1 ) – – 11 (11 ) – – – Transfer to Stage 2 (2 ) 6 (4 ) – – (2 ) 4 (2 ) – – Transfer to Stage 3 (1 ) (4 ) 5 – – – (4 ) 4 – – Net remeasurement due to transfers 2 (6 ) 3 – – (3 ) (7 ) 3 – – (4 ) New originations or purchases 3 5 n/a n/a – 5 6 n/a n/a – 6 Net repayments 4 – (1 ) – – (1 ) (1 ) (1 ) – (4 ) (6 ) Derecognition of financial assets (excluding disposals and write-offs) 5 (1 ) (2 ) (8 ) – (11 ) (1 ) (1 ) (1 ) – (3 ) Changes to risk, parameters, and models 6 (9 ) 12 21 (1 ) 23 (7 ) 9 8 (2 ) 8 Disposals – – – – – – – – – – Write-offs – – (13 ) – (13 ) – – (14 ) – (14 ) Recoveries – – – – – – – 2 – 2 Foreign exchange and other adjustments – – – – – – (1 ) (1 ) 1 (1 ) Balance at end of period $ 27 $ 32 $ 47 $ 4 $ 110 $ 23 $ 24 $ 41 $ 7 $ 95 Consumer Instalment and Other Personal Balance, including off-balance $ 599 $ 392 $ 178 $ 2 $ 1,171 $ 529 $ 355 $ 166 $ 5 $ 1,055 Provision for credit losses Transfer to Stage 1 1 167 (158 ) (9 ) – – 146 (138 ) (8 ) – – Transfer to Stage 2 (57 ) 78 (21 ) – – (60 ) 80 (20 ) – – Transfer to Stage 3 (9 ) (106 ) 115 – – (13 ) (88 ) 101 – – Net remeasurement due to transfers 2 (68 ) 78 5 – 15 (59 ) 68 5 – 14 New originations or purchases 3 139 n/a n/a – 139 142 n/a n/a – 142 Net repayments 4 (43 ) (15 ) (6 ) – (64 ) (13 ) (13 ) (6 ) (3 ) (35 ) Derecognition of financial assets (excluding disposals and write-offs) 5 (38 ) (52 ) (33 ) – (123 ) (54 ) (47 ) (20 ) – (121 ) Changes to risk, parameters, and models 6 (48 ) 180 405 – 537 (46 ) 166 351 1 472 Disposals – – – – – – – – – – Write-offs – – (586 ) – (586 ) – – (528 ) – (528 ) Recoveries – – 128 – 128 – – 130 1 131 Foreign exchange and other adjustments 5 4 3 – 12 – (1 ) (1 ) – (2 ) Balance, including off-balance 647 401 179 2 1,229 572 382 170 4 1,128 Less: Allowance for off-balance 7 26 44 – – 70 25 46 – – 71 Balance at end of period $ 621 $ 357 $ 179 $ 2 $ 1,159 $ 547 $ 336 $ 170 $ 4 $ 1,057 Credit Card 8 Balance, including off-balance $ 819 $ 580 $ 341 $ – $ 1,740 $ 763 $ 521 $ 321 $ – $ 1,605 Provision for credit losses Transfer to Stage 1 1 363 (296 ) (67 ) – – 254 (234 ) (20 ) – – Transfer to Stage 2 (111 ) 143 (32 ) – – (93 ) 126 (33 ) – – Transfer to Stage 3 (16 ) (316 ) 332 – – (24 ) (222 ) 246 – – Net remeasurement due to transfers 2 (111 ) 154 23 – 66 (91 ) 113 39 – 61 New originations or purchases 3 65 n/a n/a – 65 112 n/a n/a – 112 Net repayments 4 38 1 (30 ) – 9 84 (4 ) (17 ) – 63 Derecognition of financial assets (excluding disposals and write-offs) 5 (47 ) (54 ) (195 ) – (296 ) (57 ) (57 ) (136 ) – (250 ) Changes to risk, parameters, and models 6 (130 ) 409 716 – 995 (173 ) 343 579 – 749 Disposals – – – – – (8 ) (7 ) (3 ) – (18 ) Write-offs – – (861 ) – (861 ) – – (757 ) – (757 ) Recoveries – – 149 – 149 – – 129 – 129 Foreign exchange and other adjustments 10 6 6 – 22 (3 ) 3 – – – Balance, including off-balance 880 627 382 – 1,889 764 582 348 – 1,694 Less: Allowance for off-balance 7 480 318 – – 798 393 264 – – 657 Balance at end of period $ 400 $ 309 $ 382 $ – $ 1,091 $ 371 $ 318 $ 348 $ – $ 1,037 1 Transfers represent stage transfer movements prior to expected credit loss ECL remeasurement. 2 Represents the remeasurement between twelve-month and lifetime ECLs due to stage transfers, excluding the change to risk, parameters, and models. 3 Represents the increase in the allowance resulting from loans that were newly originated, purchased, or renewed. 4 Represents the changes in the allowance related to cash flow changes associated with new draws or repayments on loans outstanding. 5 Represents the decrease in the allowance resulting from loans that were fully repaid and excludes the decrease associated with loans that were disposed or fully written off. 6 Represents the change in the allowance related to changes in risk including changes to macroeconomic factors, level of risk, associated parameters, and models. 7 The allowance for loan losses for off-balance 8 Credit cards are considered impaired and migrate to Stage 3 when they are 90 days past due and written off at 180 days past due. Refer to Note 2 of the Bank's 2018 Annual Consolidated Financial Statements for further details. Allowance for Loan Losses 1 (millions of Canadian dollars) For the six months ended April 30, 2019 April 30, 2018 Stage 1 Stage 2 Stage 3 Acquired Total Stage 1 Stage 2 Stage 3 Acquired Total Business and Government Balance, including off-balance $ 736 $ 690 $ 120 $ 11 $ 1,557 $ 706 $ 627 $ 174 $ 18 $ 1,525 Provision for credit losses Transfer to Stage 1 2 85 (82 ) (3 ) – – 66 (64 ) (2 ) – – Transfer to Stage 2 (68 ) 72 (4 ) – – (52 ) 55 (3 ) – – Transfer to Stage 3 (3 ) (48 ) 51 – – (4 ) (29 ) 33 – – Net remeasurement due to transfers 2 (27 ) 47 2 – 22 (18 ) 32 3 – 17 New originations or purchases 2 213 n/a n/a – 213 205 n/a n/a – 205 Net repayments 2 2 (22 ) (8 ) 1 (27 ) (6 ) (22 ) (11 ) (1 ) (40 ) Derecognition of financial assets (excluding disposals and write-offs) 2 (168 ) (183 ) (37 ) – (388 ) (194 ) (184 ) (24 ) (1 ) (403 ) Changes to risk, parameters, and models 2 (64 ) 280 101 (8 ) 309 (3 ) 226 26 (5 ) 244 Disposals – – – – – – – (5 ) – (5 ) Write-offs – – (75 ) – (75 ) – – (73 ) (1 ) (74 ) Recoveries – – 19 5 24 – – 32 3 35 Foreign exchange and other adjustments 11 8 – 1 20 (4 ) (2 ) (1 ) – (7 ) Balance, including off-balance 717 762 166 10 1,655 696 639 149 13 1,497 Less: Allowance for off-balance 3 74 163 – – 237 70 67 – – 137 Balance at end of period 643 599 166 10 1,418 626 572 149 13 1,360 Total Allowance for Loan Losses at end of period $ 1,691 $ 1,297 $ 774 $ 16 $ 3,778 $ 1,567 $ 1,250 $ 708 $ 24 $ 3,549 1 Includes the allowance for credit losses related to customers' liability under acceptances. 2 For explanations regarding this line item, refer to the "Allowance for Loan Losses" table on the previous page in this Note. 3 The allowance for loan losses for off-balance |
Summary of Loans Past Due but Not Impaired | The following table summarizes loans that are contractually past due but not impaired as at April 30, 2019 and October 31, 2018. Loans Past Due but not Impaired 1,2 (millions of Canadian dollars) As at April 30, 2019 October 31, 2018 1-30 31-60 61-89 Total 1-30 31-60 61-89 Total Residential mortgages $ 1,620 $ 342 $ 117 $ 2,079 $ 1,471 $ 358 $ 101 $ 1,930 Consumer instalment and other personal 5,972 738 255 6,965 5,988 811 241 7,040 Credit card 1,291 304 208 1,803 1,403 340 213 1,956 Business and government 1,378 421 66 1,865 1,314 444 28 1,786 Total $ 10,261 $ 1,805 $ 646 $ 12,712 $ 10,176 $ 1,953 $ 583 $ 12,712 1 Includes loans that are measured at FVOCI. 2 Balances as at April 30, 2019 and October 31, 2018 exclude all acquired credit-impaired loans. |
Investment in Associates and _2
Investment in Associates and Joint Ventures (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
TD Ameritrade Holding Corporation [member] | |
Statement [LineItems] | |
Summary of Condensed Financial Statements | The condensed financial statements of TD Ameritrade, based on its consolidated financial statements, are included in the following tables. Condensed Consolidated Balance Sheets 1 (millions of Canadian dollars) As at March 31 September 30 Assets Receivables from brokers, dealers, and clearing organizations $ 2,178 $ 1,809 Receivables from clients, net 27,836 29,773 Other assets, net 21,804 17,811 Total assets $ 51,818 $ 49,393 Liabilities Payable to brokers, dealers, and clearing organizations $ 3,313 $ 3,923 Payable to clients 31,135 30,126 Other liabilities 6,220 4,809 Total liabilities 40,668 38,858 Stockholders equity 2 11,150 10,535 Total liabilities and stockholders equity $ 51,818 $ 49,393 1 Customers' securities are reported on a settlement date basis whereas the Bank reports customers' securities on a trade date basis. 2 The difference between the carrying value of the Bank's investment in TD Ameritrade and the Bank's share of TD Ameritrade's stockholders' equity is comprised of goodwill, other intangibles, and the cumulative translation adjustment. Condensed Consolidated Statements of Income (millions of Canadian dollars, except as noted) For the three months ended For the six months ended March 31 March 31 March 31 March 31 Revenues Net interest revenue $ 481 $ 390 $ 978 $ 741 Fee-based 1,447 1,400 2,953 2,647 Total revenues 1,928 1,790 3,931 3,388 Operating expenses Employee compensation and benefits 452 583 871 1,111 Other 539 706 1,071 1,349 Total operating expenses 991 1,289 1,942 2,460 Other expense (income) 49 30 73 72 Pre-tax 888 471 1,916 856 Provision for income taxes 225 128 455 136 Net income 1,2 $ 663 $ 343 $ 1,461 $ 720 Earnings per share – basic (Canadian dollars) $ 1.18 $ 0.60 $ 2.60 $ 1.27 Earnings per share – diluted (Canadian dollars) 1.18 0.60 2.59 1.26 1 The Bank's equity share of net income of TD Ameritrade is based on the published consolidated financial statements of TD Ameritrade after converting into Canadian dollars and is subject to adjustments relating to the amortization of certain intangibles. 2 The Bank's equity share in TD Ameritrade earnings for the three and six months ended April 30, 2019 includes an adjustment of nil (three and six months ended April 30, 2018 – a net favourable adjustment of nil and $41 million (US$32 million), respectively) primarily representing the Bank's share of TD Ameritrade's remeasurement of its deferred income tax balances as a result of the reduction in the U.S. federal corporate income tax rate. |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
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Summary of Goodwill by Segment | Goodwill by Segment (millions of Canadian dollars) Canadian U.S. 1 Wholesale Total Carrying amount of goodwill as at November 1, 2017 $ 2,303 $ 13,693 $ 160 $ 16,156 Additions 82 – – 82 Foreign currency translation adjustments and other 18 280 – 298 Carrying amount of goodwill as at October 31, 2018 2 2,403 13,973 160 16,536 Additions 433 – – 433 Foreign currency translation adjustments and other 15 248 – 263 Carrying amount of goodwill as at April 30, 2019 2 $ 2,851 $ 14,221 $ 160 $ 17,232 1 Goodwill predominantly relates to U.S. personal and commercial banking. 2 Impairment losses for the three and six months ended April 30, 2019 and April 30, 2018 were nil, and accumulated impairment as at April 30, 2019 was nil (October 31, 2018 – nil). |
Other Assets (Tables)
Other Assets (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Schedule of Other Assets | Other Assets (millions of Canadian dollars) As at April 30 October 31 Accounts receivable and other items $ 9,310 $ 8,938 Accrued interest 2,446 2,343 Current income tax receivable 2,503 1,614 Defined benefit asset 10 113 Insurance-related assets, excluding investments 1,561 1,638 Prepaid expenses 1,408 950 Total $ 17,238 $ 15,596 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
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Summary of Deposit Liabilities | Deposits (millions of Canadian dollars) As at By Type By Country April 30 October 31 Demand Notice Term 1 Canada United States International Total Total Personal $ 13,714 $ 419,240 $ 56,729 $ 225,858 $ 263,795 $ 30 $ 489,683 $ 477,644 Banks 2 9,163 155 10,351 12,811 74 6,784 19,669 16,712 Business and government 3,4 78,789 133,449 153,753 266,014 96,320 3,657 365,991 357,083 Trading 2 – – 53,974 26,119 16,270 11,585 53,974 114,704 Designated at fair value through profit or loss 2,5 – – 57,766 31,711 22,175 3,880 57,766 – Total $ 101,666 $ 552,844 $ 332,573 $ 562,513 $ 398,634 $ 25,936 $ 987,083 $ 966,143 Non-interest-bearing deposits included above In domestic offices $ 40,562 $ 42,402 In foreign offices 53,524 54,488 Interest-bearing deposits included above In domestic offices 521,951 505,295 In foreign offices 370,365 362,890 U.S. federal funds deposited 2 681 1,068 Total 3,6 $ 987,083 $ 966,143 1 Includes $6,586 million (October 31, 2018 – $53 "bail-in" non-viable. 2 Includes deposits and advances with the Federal Home Loan Bank. 3 As at April 30, 2019, includes $39 billion relating to covered bondholders (October 31, 2018 – $36 billion) and $2 billion (October 31, 2018 – $2 billion) due to TD Capital Trust lV. 4 On May 9, 2019, TD Capital Trust IV announced its intention to redeem all of the outstanding TD Capital Trust IV Notes – Series 1 on June 30, 2019. 5 Financial liabilities designated at fair value through profit or loss on the Interim Consolidated Balance Sheet consist of deposits designated at fair value through profit or loss and $17 million (October 31, 2018 – $16 million) of loan commitments and financial guarantees designated at fair value through profit or loss. 6 As at April 30, 2019, includes deposits of $559 billion (October 31, 2018 – $548 billion) denominated in U.S. dollars and $56 billion (October 31, 2018 – $55 billion) denominated in other foreign currencies. |
Other Liabilities (Tables)
Other Liabilities (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
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Summary of Other Liabilities | Other Liabilities 1 (millions of Canadian dollars) As at April 30 October 31 Accounts payable, accrued expenses, and other items $ 4,842 $ 4,958 Accrued interest 1,373 1,283 Accrued salaries and employee benefits 2,538 3,344 Cheques and other items in transit 964 454 Current income tax payable 149 84 Deferred tax liabilities 192 175 Defined benefit liability 2,230 1,747 Liabilities related to structured entities 6,449 5,627 Provisions 1,522 1,502 Total $ 20,259 $ 19,174 1 Certain comparative amounts have been reclassified to conform with the presentation adopted in the current period. |
Equity (Tables)
Equity (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
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Summary of Classes of Share Capital | The following table summarizes the shares issued and outstanding, and treasury shares held as at April 30, 2019 and October 31, 2018. Common and Preferred Shares Issued and Outstanding and Treasury Shares Held (millions of shares and millions of Canadian dollars) April 30, 2019 October 31, 2018 Number Amount Number Amount Common Shares Balance as at beginning of year 1,830.4 $ 21,221 1,842.5 $ 20,931 Proceeds from shares issued on exercise of stock options 1.0 52 2.9 152 Shares issued as a result of dividend reinvestment plan 2.7 197 5.0 366 Shares issued in connection with acquisitions 1 5.0 366 – – Purchase of shares for cancellation and other (10.0 ) (118 ) (20.0 ) (228 ) Balance as at end of period – common shares 1,829.1 $ 21,718 1,830.4 $ 21,221 Preferred Shares – Class A Balance as at beginning of year 200.0 $ 5,000 190.0 $ 4,750 Shares issued 2 14.0 350 30.0 750 Shares redeemed – – (20.0 ) (500 ) Balance as at end of period – preferred shares 214.0 $ 5,350 200.0 $ 5,000 Treasury shares – common 3 Balance as at beginning of year 2.1 $ (144 ) 2.9 $ (176 ) Purchase of shares 71.5 (5,198 ) 110.6 (8,295 ) Sale of shares (72.9 ) 5,293 (111.4 ) 8,327 Balance as at end of period – treasury shares – common 0.7 $ (49 ) 2.1 $ (144 ) Treasury shares – preferred 3 Balance as at beginning of year 0.3 $ (7 ) 0.3 $ (7 ) Purchase of shares 3.0 (69 ) 5.2 (129 ) Sale of shares (3.0 ) 70 (5.2 ) 129 Balance as at end of period – treasury shares – preferred 0.3 $ (6 ) 0.3 $ (7 ) 1 Includes 4.7 million shares issued for $342 million that form part of the consideration paid for Greystone, as well as 0.3 million shares issued for $24 million as share-based compensation to replace share-based payment awards of Greystone. Refer to Note 8 for a discussion on the acquisition of Greystone. 2 Non-Cumulative 5-Year (non-viability non-cumulative non-cumulative 3 When the Bank purchases its own shares as part of its trading business, they are classified as treasury shares and the cost of these shares is recorded as a reduction in equity. |
Share-based Compensation (Table
Share-based Compensation (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Schedule of Assumptions Used for Estimating the Fair Value of Options | Assumptions Used for Estimating the Fair Value of Options (in Canadian dollars, except as noted) For the six months ended April 30 April 30 Risk-free interest rate 2.03 % 1.71 % Expected option life 6.3 years 6.3 years Expected volatility 1 12.64 % 13.91 % Expected dividend yield 3.48 % 3.50 % Exercise price/share price $ 69.39 $ 72.64 1 Expected volatility is calculated based on the average daily volatility measured over a historical period corresponding to the expected option life. |
Employee Benefits (Tables)
Employee Benefits (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
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Summary of Employee Benefit Plans Expenses | Employee Benefit Plans Expenses (millions of Canadian dollars) Principal pension Principal non-pension Other pension and 1 For the three months ended April 30 April 30 April 30 April 30 April 30 April 30 Net employee benefits expense Service cost – benefits earned $ 82 $ 101 $ 3 $ 4 $ 3 $ 2 Net interest cost on net defined benefit liability (3 ) 2 5 5 8 8 Past service cost (credit) – – – – 2 – Defined benefit administrative expenses 2 3 – – 1 1 Total expense $ 81 $ 106 $ 8 $ 9 $ 14 $ 11 For the six months ended April 30 April 30 April 30 April 30 April 30 April 30 Net employee benefits expense Service cost – benefits earned $ 163 $ 203 $ 7 $ 8 $ 5 $ 5 Net interest cost on net defined benefit liability (6 ) 4 10 9 16 15 Past service cost (credit) – – – – 2 (3 ) Defined benefit administrative expenses 5 5 – – 3 2 Total expense $ 162 $ 212 $ 17 $ 17 $ 26 $ 19 1 Includes Canada Trust (CT) defined benefit pension plan, TD Banknorth defined benefit pension plan, TD Auto Finance retirement plans, and supplemental employee retirement plans. Other employee benefit plans operated by the Bank and certain of its subsidiaries are not considered material for disclosure purposes. The TD Banknorth defined benefit pension plan was frozen as of December 31, 2008, and no service credits can be earned after that date. Certain TD Auto Finance defined benefit pension plans were frozen as of April 1, 2012, and no service credits can be earned after March 31, 2012. |
Summary of Bank Contribution to Principal Pension and Non Pension Post Retirement Benefit Plans and Significant Other Pension and Retirement Plans | The following table summarizes the Bank's contributions to its principal pension and non-pension Plan Contributions (millions of Canadian dollars) For the three months ended For the six months ended April 30 April 30 2018 April 30 April 30 Principal pension plans $ 95 $ 71 $ 178 $ 190 Principal non-pension 4 4 8 7 Other pension and retirement plans 1 10 7 19 16 Total $ 109 $ 82 $ 205 $ 213 1 Includes CT defined benefit pension plan, TD Banknorth defined benefit pension plan, TD Auto Finance retirement plans, and supplemental employee retirement plans. Other employee benefit plans operated by the Bank and certain of its subsidiaries are not considered material for disclosure purposes. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
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Summary of Earnings Per Share | Basic and Diluted Earnings Per Share (millions of Canadian dollars, except as noted) For the three months ended For the six months ended April 30 April 30 April 30 April 30 Basic earnings per share Net income attributable to common shareholders $ 3,110 $ 2,846 $ 5,442 $ 5,129 Weighted-average number of common shares outstanding (millions) 1,826.6 1,843.6 1,829.9 1,842.6 Basic earnings per share $ 1.70 $ 1.54 $ 2.97 $ 2.78 Diluted earnings per share Net income attributable to common shareholders $ 3,110 $ 2,846 $ 5,442 $ 5,129 Net income available to common shareholders including impact of dilutive securities 3,110 2,846 5,442 5,129 Weighted-average number of common shares outstanding (millions) 1,826.6 1,843.6 1,829.9 1,842.6 Effect of dilutive securities Stock options potentially exercisable (millions) 1 3.4 3.9 3.3 4.2 Weighted-average number of common shares outstanding – diluted (millions) 1,830.0 1,847.5 1,833.2 1,846.8 Diluted earnings per share 1 $ 1.70 $ 1.54 $ 2.97 $ 2.78 1 For the three and six months ended April 30, 2019 and April 30, 2018, no outstanding options were excluded from the computation of diluted earnings per share. |
Segmented Information (Tables)
Segmented Information (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Summary of Results by Business Segment | The following table summarizes the segment results for the three and six months ended April 30. Results by Business Segment 1,2 (millions of Canadian dollars) Canadian Retail U.S. Retail Wholesale Banking 3 Corporate 3 Total For the three months ended April 30 2019 April 30 2018 April 30 April 30 2018 April 30 2019 April 30 2018 April 30 2019 April 30 2018 April 30 2019 April 30 2018 Net interest income (loss) $ 3,010 $ 2,781 $ 2,231 $ 1,977 $ 262 $ 272 $ 369 $ 368 $ 5,872 $ 5,398 Non-interest 2,949 2,731 677 654 625 615 105 84 4,356 4,084 Total revenue 4 5,959 5,512 2,908 2,631 887 887 474 452 10,228 9,482 Provision for (recovery of) credit losses 280 219 226 204 (5 ) 16 132 117 633 556 Insurance claims and related expenses 668 558 – – – – – – 668 558 Non-interest 2,481 2,232 1,527 1,488 597 516 643 601 5,248 4,837 Income (loss) before income taxes 2,530 2,503 1,155 939 295 355 (301 ) (266 ) 3,679 3,531 Provision for (recovery of) income taxes 681 670 150 94 74 88 (132 ) (106 ) 773 746 Equity in net income of an investment in TD Ameritrade – – 258 134 – – 8 (3 ) 266 131 Net income (loss) $ 1,849 $ 1,833 $ 1,263 $ 979 $ 221 $ 267 $ (161 ) $ (163 ) $ 3,172 $ 2,916 For the six months ended April 30 April 30 2018 April 30 April 30 2018 April 30 April 30 2018 April 30 April 30 April 30 2019 April 30 2018 Net interest income (loss) $ 6,054 $ 5,606 $ 4,478 $ 3,917 $ 435 $ 601 $ 765 $ 704 $ 11,732 $ 10,828 Non-interest 5,893 5,456 1,378 1,357 1,034 1,176 189 40 8,494 8,029 Total revenue 4 11,947 11,062 5,856 5,274 1,469 1,777 954 744 20,226 18,857 Provision for (recovery of) credit losses 590 489 532 451 2 9 359 300 1,483 1,249 Insurance claims and related expenses 1,370 1,133 – – – – – – 1,370 1,133 Non-interest 5,565 4,543 3,138 2,935 1,199 1,042 1,201 1,178 11,103 9,698 Income (loss) before income taxes 4,422 4,897 2,186 1,888 268 726 (606 ) (734 ) 6,270 6,777 Provision for (recovery of) income taxes 1,194 1,307 252 197 64 181 (234 ) 101 1,276 1,786 Equity in net income of an investment in TD Ameritrade – – 569 240 – – 19 38 588 278 Net income (loss) $ 3,228 $ 3,590 $ 2,503 $ 1,931 $ 204 $ 545 $ (353 ) $ (797 ) $ 5,582 $ 5,269 Total assets $ 439,485 $ 415,518 $ 426,143 $ 405,115 $ 424,360 $ 403,775 $ 66,600 $ 59,428 $ 1,356,588 $ 1,283,836 1 Certain comparative amounts have been recast to conform with the presentation adopted in the current period. 2 The retailer program partners' share of revenues and credit losses is presented in the Corporate segment, with an offsetting amount (representing the partners' net share) recorded in Non-interest 3 Net interest income within Wholesale Banking is calculated on a taxable equivalent basis (TEB). The TEB adjustment reflected in Wholesale Banking is reversed in the Corporate segment. 4 The impact from certain treasury and balance sheet management activities relating to the U.S. Retail segment is recorded in the Corporate segment. |
Interest Income and Expense (Ta
Interest Income and Expense (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Summary of Interest Income and Expense by Basis of Accounting Classification | The following table presents interest income and interest expense by basis of accounting measurement. Please refer to Note 2 of the 2018 Annual Consolidated Financial Statements for the type of instruments measured at amortized cost and FVOCI. (millions of Canadian dollars) For the three months ended April 30, 2019 April 30, 2018 Interest Interest Interest Interest Measured at amortized cost $ 7,289 $ 2,823 $ 6,214 $ 2,157 Measured at FVOCI 1,265 – 1,096 – 8,554 2,823 7,310 2,157 Not measured at amortized cost or FVOCI 1 1,719 1,578 1,299 1,054 Total $ 10,273 $ 4,401 $ 8,609 $ 3,211 For the six months ended April 30, 2019 April 30, 2018 Interest Interest Interest Interest Measured at amortized cost $ 14,669 $ 5,751 $ 12,274 $ 4,107 Measured at FVOCI 2,570 – 2,137 – 17,239 5,751 14,411 4,107 Not measured at amortized cost or FVOCI 1 3,578 3,334 2,506 1,982 Total $ 20,817 $ 9,085 $ 16,917 $ 6,089 1 Includes interest income, interest expense, and dividend income for financial instruments that are measured or designated at fair value through profit or loss and equities designated at FVOCI. |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Apr. 30, 2019 | |
Text block [abstract] | |
Summary of Regulatory Capital Position | The following table summarizes the Bank's regulatory capital positions as at April 30, 2019 and October 31, 2018. Regulatory Capital Position (millions of Canadian dollars, except as noted) As at April 30 October 31 Capital Common Equity Tier 1 Capital $ 54,269 $ 52,389 Tier 1 Capital 61,008 59,735 Total Capital 71,620 70,434 Risk-weighted assets used in the calculation of capital ratios 1 Common Equity Tier 1 Capital $ 452,267 $ 435,632 Tier 1 Capital 452,267 435,780 Total Capital 452,267 435,927 Capital and leverage ratios Common Equity Tier 1 Capital ratio 1 12.0 % 12.0 % Tier 1 Capital ratio 1 13.5 13.7 Total Capital ratio 1 15.8 16.2 Leverage ratio 4.2 4.2 1 In accordance with the final Capital Adequacy Requirements guideline, the Credit Valuation Adjustment (CVA) capital charge has been phased in until the first quarter of 2019. Each capital ratio has its own RWA measure due to the OSFI prescribed scalar for inclusion of the CVA. For fiscal 2019, the corresponding scalars are all 100%. For fiscal 2018, the scalars for inclusion of CVA for CET1, Tier 1, and Total Capital RWA were 80%, 83%, and 86%, respectively. |
IFRS 7 - Disclosure - Market Ri
IFRS 7 - Disclosure - Market Risk - Additional Information (Detail) - CAD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Jan. 31, 2019 | |
Market Risk [line items] | ||
Number of trading days used to value current portfolio using market price and rate changes | 259 days | |
Loss trading days | 3 days | |
Positive trading days | 0.95% | |
100 bps increase [member] | ||
Market Risk [line items] | ||
Increase (decrease) in economic value of shareholder's equity | $ (337) | $ (304) |
100 bps decrease [member] | ||
Market Risk [line items] | ||
Increase (decrease) in economic value of shareholder's equity | $ (274) | $ (149) |
IFRS 7 - Disclosure - Market _2
IFRS 7 - Disclosure - Market Risk - Portfolio Market Risk Measures (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2019 | Jan. 31, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Market Risk [line items] | |||||
Total VaR (one-day measure) | $ 19.1 | ||||
Stressed Value-at-Risk (one-day) | 43.9 | ||||
Incremental Risk Capital Charge (one-year) | 269.7 | ||||
Interest rate risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 6.7 | ||||
Credit risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 11.1 | ||||
Equity price risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 7 | ||||
Currency risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 4.3 | ||||
Commodity price risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 1.4 | ||||
Idiosyncratic debt specific risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 14.5 | ||||
Risk diversification effect [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | (25.9) | ||||
Average risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 21 | $ 27.6 | $ 25.5 | $ 24.3 | $ 22.4 |
Stressed Value-at-Risk (one-day) | 43.5 | 60.5 | 57.7 | 52.6 | 48.3 |
Incremental Risk Capital Charge (one-year) | 204.2 | 232.6 | 205.4 | 219.5 | 206.4 |
Average risk [member] | Interest rate risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 8.6 | 12.9 | 17 | 10.8 | 13 |
Average risk [member] | Credit risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 12.2 | 19.7 | 11.4 | 16 | 10.3 |
Average risk [member] | Equity price risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 6.7 | 7.1 | 8.5 | 6.9 | 8.1 |
Average risk [member] | Currency risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 5.4 | 6.5 | 4.5 | 6 | 4.1 |
Average risk [member] | Commodity price risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 2.2 | 2.6 | 2.2 | 2.4 | 2.4 |
Average risk [member] | Idiosyncratic debt specific risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 15.1 | 20.2 | 17.3 | 17.6 | 15.7 |
Average risk [member] | Risk diversification effect [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | (29.2) | $ (41.4) | $ (35.4) | $ (35.4) | $ (31.2) |
High risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 28.1 | ||||
Stressed Value-at-Risk (one-day) | 56.8 | ||||
Incremental Risk Capital Charge (one-year) | 269.7 | ||||
High risk [member] | Interest rate risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 13.9 | ||||
High risk [member] | Credit risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 16.6 | ||||
High risk [member] | Equity price risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 9.6 | ||||
High risk [member] | Currency risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 9.5 | ||||
High risk [member] | Commodity price risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 3.5 | ||||
High risk [member] | Idiosyncratic debt specific risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 20.2 | ||||
Low risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 16.8 | ||||
Stressed Value-at-Risk (one-day) | 38.8 | ||||
Incremental Risk Capital Charge (one-year) | 173.1 | ||||
Low risk [member] | Interest rate risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 5.4 | ||||
Low risk [member] | Credit risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 9.4 | ||||
Low risk [member] | Equity price risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 4.6 | ||||
Low risk [member] | Currency risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 1.7 | ||||
Low risk [member] | Commodity price risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | 1.4 | ||||
Low risk [member] | Idiosyncratic debt specific risk [member] | |||||
Market Risk [line items] | |||||
Total VaR (one-day measure) | $ 13.5 |
IFRS 7 - Disclosure - Market _3
IFRS 7 - Disclosure - Market Risk - Sensitivity of After-tax Economic Value at Risk by Currency (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Jan. 31, 2019 | Apr. 30, 2018 |
100 bps increase [member] | |||
Disclosure foreign currency sensitivity analysis effect on equity [line items] | |||
Increase (decrease) on Economic Value of Shareholders' Equity | $ (337) | $ (304) | $ (288) |
100 bps increase [member] | Canadian Dollar [member] | |||
Disclosure foreign currency sensitivity analysis effect on equity [line items] | |||
Increase (decrease) on Economic Value of Shareholders' Equity | (66) | (58) | (37) |
100 bps increase [member] | U.S. Dollar [member] | |||
Disclosure foreign currency sensitivity analysis effect on equity [line items] | |||
Increase (decrease) on Economic Value of Shareholders' Equity | (271) | (246) | (251) |
100 bps decrease [member] | |||
Disclosure foreign currency sensitivity analysis effect on equity [line items] | |||
Increase (decrease) on Economic Value of Shareholders' Equity | (274) | (149) | (52) |
100 bps decrease [member] | Canadian Dollar [member] | |||
Disclosure foreign currency sensitivity analysis effect on equity [line items] | |||
Increase (decrease) on Economic Value of Shareholders' Equity | 1 | (41) | |
100 bps decrease [member] | U.S. Dollar [member] | |||
Disclosure foreign currency sensitivity analysis effect on equity [line items] | |||
Increase (decrease) on Economic Value of Shareholders' Equity | $ (274) | $ (150) | $ (11) |
IFRS 7 - Disclosure - Liquidity
IFRS 7 - Disclosure - Liquidity Risk - Summary of Liquid Assets by Type and Currency (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | $ 373,999 | $ 367,311 |
Securities received as collateral from securities financing and derivative transactions | 239,747 | 212,275 |
Total liquid assets | $ 613,746 | $ 579,586 |
% of total | 100.00% | 100.00% |
Encumbered liquid assets | $ 232,410 | $ 207,544 |
Unencumbered liquid assets | 381,336 | 372,042 |
Canadian Dollar [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 96,369 | 93,458 |
Securities received as collateral from securities financing and derivative transactions | 105,994 | 88,499 |
Total liquid assets | $ 202,363 | $ 181,957 |
% of total | 33.00% | 31.00% |
Encumbered liquid assets | $ 100,000 | $ 85,452 |
Unencumbered liquid assets | 102,363 | 96,505 |
Canadian Dollar [member] | Cash and due from banks [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 4,029 | 3,002 |
Total liquid assets | $ 4,029 | $ 3,002 |
% of total | 1.00% | 1.00% |
Encumbered liquid assets | $ 228 | $ 1,098 |
Unencumbered liquid assets | 3,801 | 1,904 |
Canadian Dollar [member] | Canadian government obligations [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 13,865 | 18,256 |
Securities received as collateral from securities financing and derivative transactions | 74,980 | 63,463 |
Total liquid assets | $ 88,845 | $ 81,719 |
% of total | 14.00% | 14.00% |
Encumbered liquid assets | $ 54,585 | $ 47,572 |
Unencumbered liquid assets | 34,260 | 34,147 |
Canadian Dollar [member] | National Housing Act mortgage backed securities [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 41,792 | 39,649 |
Securities received as collateral from securities financing and derivative transactions | 34 | 42 |
Total liquid assets | $ 41,826 | $ 39,691 |
% of total | 7.00% | 6.00% |
Encumbered liquid assets | $ 3,232 | $ 3,057 |
Unencumbered liquid assets | 38,594 | 36,634 |
Canadian Dollar [member] | Provincial government obligations [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 13,738 | 12,720 |
Securities received as collateral from securities financing and derivative transactions | 23,554 | 19,241 |
Total liquid assets | $ 37,292 | $ 31,961 |
% of total | 6.00% | 5.00% |
Encumbered liquid assets | $ 27,644 | $ 23,651 |
Unencumbered liquid assets | 9,648 | 8,310 |
Canadian Dollar [member] | Corporate issuer obligations [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 8,293 | 6,622 |
Securities received as collateral from securities financing and derivative transactions | 3,952 | 3,767 |
Total liquid assets | $ 12,245 | $ 10,389 |
% of total | 2.00% | 2.00% |
Encumbered liquid assets | $ 3,659 | $ 3,769 |
Unencumbered liquid assets | 8,586 | 6,620 |
Canadian Dollar [member] | Equities [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 11,290 | 10,554 |
Securities received as collateral from securities financing and derivative transactions | 3,030 | 1,637 |
Total liquid assets | $ 14,320 | $ 12,191 |
% of total | 2.00% | 2.00% |
Encumbered liquid assets | $ 10,139 | $ 6,028 |
Unencumbered liquid assets | 4,181 | 6,163 |
Canadian Dollar [member] | Other marketable securities and/or loans [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 3,362 | 2,655 |
Securities received as collateral from securities financing and derivative transactions | 444 | 349 |
Total liquid assets | $ 3,806 | $ 3,004 |
% of total | 1.00% | 1.00% |
Encumbered liquid assets | $ 513 | $ 277 |
Unencumbered liquid assets | 3,293 | 2,727 |
Other than Canadian dollar [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 277,630 | 273,853 |
Securities received as collateral from securities financing and derivative transactions | 133,753 | 123,776 |
Total liquid assets | $ 411,383 | $ 397,629 |
% of total | 67.00% | 69.00% |
Encumbered liquid assets | $ 132,410 | $ 122,092 |
Unencumbered liquid assets | 278,973 | 275,537 |
Other than Canadian dollar [member] | Cash and due from banks [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 24,424 | 24,046 |
Total liquid assets | $ 24,424 | $ 24,046 |
% of total | 4.00% | 4.00% |
Encumbered liquid assets | $ 32 | $ 28 |
Unencumbered liquid assets | 24,392 | 24,018 |
Other than Canadian dollar [member] | Corporate issuer obligations [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 81,125 | 78,160 |
Securities received as collateral from securities financing and derivative transactions | 2,199 | 1,576 |
Total liquid assets | $ 83,324 | $ 79,736 |
% of total | 14.00% | 14.00% |
Encumbered liquid assets | $ 7,030 | $ 7,234 |
Unencumbered liquid assets | 76,294 | 72,502 |
Other than Canadian dollar [member] | Equities [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 37,944 | 33,514 |
Securities received as collateral from securities financing and derivative transactions | 36,871 | 37,666 |
Total liquid assets | $ 74,815 | $ 71,180 |
% of total | 12.00% | 12.00% |
Encumbered liquid assets | $ 38,888 | $ 32,206 |
Unencumbered liquid assets | 35,927 | 38,974 |
Other than Canadian dollar [member] | Other marketable securities and/or loans [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 4,543 | 4,786 |
Securities received as collateral from securities financing and derivative transactions | 1 | 4 |
Total liquid assets | $ 4,544 | $ 4,790 |
% of total | 1.00% | 1.00% |
Encumbered liquid assets | $ 530 | $ 191 |
Unencumbered liquid assets | 4,014 | 4,599 |
Other than Canadian dollar [member] | U.S. government obligations [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 30,331 | 30,163 |
Securities received as collateral from securities financing and derivative transactions | 45,037 | 37,691 |
Total liquid assets | $ 75,368 | $ 67,854 |
% of total | 12.00% | 12.00% |
Encumbered liquid assets | $ 36,209 | $ 32,918 |
Unencumbered liquid assets | 39,159 | 34,936 |
Other than Canadian dollar [member] | U.S. federal agency obligations [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 49,733 | 47,150 |
Securities received as collateral from securities financing and derivative transactions | 9,650 | 927 |
Total liquid assets | $ 59,383 | $ 48,077 |
% of total | 10.00% | 8.00% |
Encumbered liquid assets | $ 17,983 | $ 7,522 |
Unencumbered liquid assets | 41,400 | 40,555 |
Other than Canadian dollar [member] | Other sovereign obligations [member] | ||
Disclosure of liquid assets by type and currency [line items] | ||
Bank-owned liquid assets | 49,530 | 56,034 |
Securities received as collateral from securities financing and derivative transactions | 39,995 | 45,912 |
Total liquid assets | $ 89,525 | $ 101,946 |
% of total | 14.00% | 18.00% |
Encumbered liquid assets | $ 31,738 | $ 41,993 |
Unencumbered liquid assets | $ 57,787 | $ 59,953 |
IFRS 7 - Disclosure - Liquidi_2
IFRS 7 - Disclosure - Liquidity Risk - Summary of Unencumbered Liquid Assets by Bank, Subsidiaries, and Branches (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure Of Unencumbered Assets [line items] | ||
Unencumbered liquid assets | $ 381,336 | $ 372,042 |
Toronto-Dominion Bank [member] | ||
Disclosure Of Unencumbered Assets [line items] | ||
Unencumbered liquid assets | 143,442 | 136,544 |
Bank subsidiaries [member] | ||
Disclosure Of Unencumbered Assets [line items] | ||
Unencumbered liquid assets | 222,088 | 217,565 |
Foreign branches [member] | ||
Disclosure Of Unencumbered Assets [line items] | ||
Unencumbered liquid assets | $ 15,806 | $ 17,933 |
IFRS 7 - Disclosure - Liquidi_3
IFRS 7 - Disclosure - Liquidity Risk - Additional Information (Detail) | Apr. 30, 2019 |
Liquidity risk [abstract] | |
Percentage of P&C deposits in total funding | 70.00% |
IFRS 7 - Disclosure - Liquidi_4
IFRS 7 - Disclosure - Liquidity Risk - Summary of Deposit Funding (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure Of Deposits [line items] | ||
Funds from Deposits | $ 723,550 | $ 706,133 |
Other Deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Funds from Deposits | 28 | 36 |
Canadian Retail [member] | P&C Deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Funds from Deposits | 370,487 | 359,473 |
U.S. Retail [member] | P&C Deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Funds from Deposits | $ 353,035 | $ 346,624 |
IFRS 7 - Disclosure - Liquidi_5
IFRS 7 - Disclosure - Liquidity Risk - Summary of Remaining Contractual Maturity (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Oct. 31, 2018 | Sep. 30, 2018 | Apr. 30, 2018 | Feb. 01, 2018 | Oct. 31, 2017 |
ASSETS | ||||||||
Cash and due from banks | $ 5,009 | $ 4,381 | $ 4,735 | $ 4,197 | $ 3,896 | $ 3,971 | ||
Interest-bearing deposits with banks | 28,453 | 30,720 | ||||||
Trading loans, securities, and other | 132,805 | 127,897 | ||||||
Non-trading financial assets at fair value through profit or loss | 4,202 | 4,015 | ||||||
Derivatives | 43,624 | 56,996 | ||||||
Financial assets designated at fair value through profit or loss | 3,379 | 3,618 | ||||||
Financial assets at fair value through other comprehensive income | 125,109 | 130,600 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 111,544 | 107,171 | ||||||
Securities purchased under reverse repurchase agreements | 149,949 | 127,379 | ||||||
Loans | ||||||||
Residential mortgages | 227,258 | 225,191 | ||||||
Consumer instalment and other personal | 174,708 | 172,079 | ||||||
Credit card | 36,004 | 35,018 | ||||||
Business and government | 229,423 | 217,654 | ||||||
Total loans | 667,393 | 649,942 | ||||||
Allowance for loan losses | (3,778) | (3,549) | ||||||
Loans, net of allowance for loan losses | 663,615 | 646,393 | ||||||
Customers' liability under acceptances | 16,189 | 17,267 | ||||||
Goodwill | 17,232 | 16,536 | $ 16,156 | |||||
Other intangibles | 2,623 | 2,459 | ||||||
Land, buildings, equipment, and other depreciable assets | 5,500 | 5,324 | ||||||
Deferred tax assets | 2,136 | 2,812 | ||||||
Amounts receivable from brokers, dealers, and clients | 18,954 | 26,940 | ||||||
Other assets | 17,238 | 15,596 | ||||||
Total assets | 1,356,588 | 1,334,903 | 1,283,836 | |||||
LIABILITIES | ||||||||
Trading deposits | 53,974 | 114,704 | ||||||
Derivatives | 42,199 | 48,270 | ||||||
Securitization liabilities at fair value | 12,738 | 12,618 | ||||||
Financial liabilities designated at fair value through profit or loss | 57,783 | 16 | ||||||
Deposits | ||||||||
Personal | 489,683 | 477,644 | ||||||
Banks | 19,669 | 16,712 | ||||||
Business and government | 365,991 | 357,083 | ||||||
Total deposits, other than trading | 875,343 | 851,439 | ||||||
Acceptances | 16,189 | 17,269 | ||||||
Obligations related to securities sold short | 36,365 | 39,478 | ||||||
Obligations related to securities sold under repurchase agreements | 107,885 | 93,389 | ||||||
Securitization liabilities at amortized cost | 14,020 | 14,683 | ||||||
Amounts payable to brokers, dealers, and clients | 19,323 | 28,385 | ||||||
Insurance-related liabilities | 6,644 | 6,698 | ||||||
Other liabilities | 20,259 | 19,174 | ||||||
Subordinated notes and debentures | 8,968 | 8,740 | ||||||
Equity | 84,898 | 80,040 | $ 76,662 | |||||
Total liabilities and equity | 1,356,588 | 1,334,903 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 239,863 | 220,549 | ||||||
TD Ameritrade [member] | ||||||||
Loans | ||||||||
Investment in TD Ameritrade | 9,027 | 8,445 | ||||||
Other assets | $ 21,804 | $ 17,811 | ||||||
Total assets | 51,818 | 49,393 | ||||||
Deposits | ||||||||
Other liabilities | 6,220 | 4,809 | ||||||
Equity | 11,150 | 10,535 | ||||||
Total liabilities and equity | $ 51,818 | $ 49,393 | ||||||
Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 226,324 | 208,042 | ||||||
Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 7,777 | 7,267 | ||||||
Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 2,790 | 2,477 | ||||||
Unconsolidated structured entity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 2,972 | 2,763 | ||||||
Not later than one month [member] | ||||||||
ASSETS | ||||||||
Cash and due from banks | 5,007 | 4,733 | ||||||
Interest-bearing deposits with banks | 27,325 | 28,332 | ||||||
Trading loans, securities, and other | 2,517 | 1,971 | ||||||
Non-trading financial assets at fair value through profit or loss | 13 | |||||||
Derivatives | 3,988 | 7,343 | ||||||
Financial assets designated at fair value through profit or loss | 107 | 30 | ||||||
Financial assets at fair value through other comprehensive income | 2,078 | 1,111 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 1,599 | 881 | ||||||
Securities purchased under reverse repurchase agreements | 100,567 | 77,612 | ||||||
Loans | ||||||||
Residential mortgages | 1,084 | 908 | ||||||
Consumer instalment and other personal | 977 | 753 | ||||||
Business and government | 27,573 | 23,052 | ||||||
Total loans | 29,634 | 24,713 | ||||||
Loans, net of allowance for loan losses | 29,634 | 24,713 | ||||||
Customers' liability under acceptances | 13,703 | 14,984 | ||||||
Amounts receivable from brokers, dealers, and clients | 18,954 | 26,940 | ||||||
Other assets | 3,411 | 3,432 | ||||||
Total assets | 208,903 | 192,082 | ||||||
LIABILITIES | ||||||||
Trading deposits | 9,045 | 16,145 | ||||||
Derivatives | 4,458 | 6,195 | ||||||
Financial liabilities designated at fair value through profit or loss | 18,809 | 10 | ||||||
Deposits | ||||||||
Personal | 4,615 | 4,330 | ||||||
Banks | 5,422 | 6,499 | ||||||
Business and government | 17,638 | 18,840 | ||||||
Total deposits, other than trading | 27,675 | 29,669 | ||||||
Acceptances | 13,703 | 14,986 | ||||||
Obligations related to securities sold short | 75 | 2,621 | ||||||
Obligations related to securities sold under repurchase agreements | 92,452 | 73,759 | ||||||
Securitization liabilities at amortized cost | 22 | |||||||
Amounts payable to brokers, dealers, and clients | 19,323 | 28,385 | ||||||
Insurance-related liabilities | 255 | 213 | ||||||
Other liabilities | 3,905 | 2,916 | ||||||
Total liabilities and equity | 189,700 | 174,921 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 19,400 | 18,466 | ||||||
Not later than one month [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 19,270 | 18,341 | ||||||
Not later than one month [member] | Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 81 | 79 | ||||||
Not later than one month [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 49 | 46 | ||||||
Later than one month and not later than three months [member] | ||||||||
ASSETS | ||||||||
Cash and due from banks | 2 | 2 | ||||||
Interest-bearing deposits with banks | 299 | 924 | ||||||
Trading loans, securities, and other | 3,675 | 5,244 | ||||||
Non-trading financial assets at fair value through profit or loss | 27 | 12 | ||||||
Derivatives | 6,008 | 9,263 | ||||||
Financial assets designated at fair value through profit or loss | 141 | 95 | ||||||
Financial assets at fair value through other comprehensive income | 5,541 | 4,214 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 2,219 | 2,577 | ||||||
Securities purchased under reverse repurchase agreements | 26,640 | 30,047 | ||||||
Loans | ||||||||
Residential mortgages | 6,540 | 3,234 | ||||||
Consumer instalment and other personal | 2,192 | 1,332 | ||||||
Business and government | 4,640 | 4,320 | ||||||
Total loans | 13,372 | 8,886 | ||||||
Loans, net of allowance for loan losses | 13,372 | 8,886 | ||||||
Customers' liability under acceptances | 2,340 | 2,145 | ||||||
Other assets | 916 | 854 | ||||||
Total assets | 61,180 | 64,263 | ||||||
LIABILITIES | ||||||||
Trading deposits | 10,551 | 37,337 | ||||||
Derivatives | 5,896 | 8,684 | ||||||
Securitization liabilities at fair value | 703 | 981 | ||||||
Financial liabilities designated at fair value through profit or loss | 15,496 | 5 | ||||||
Deposits | ||||||||
Personal | 7,483 | 7,094 | ||||||
Banks | 1,599 | 1,941 | ||||||
Business and government | 21,795 | 19,337 | ||||||
Total deposits, other than trading | 30,877 | 28,372 | ||||||
Acceptances | 2,340 | 2,145 | ||||||
Obligations related to securities sold short | 856 | 3,679 | ||||||
Obligations related to securities sold under repurchase agreements | 13,642 | 15,508 | ||||||
Securitization liabilities at amortized cost | 503 | 1,240 | ||||||
Insurance-related liabilities | 318 | 294 | ||||||
Other liabilities | 1,050 | 2,631 | ||||||
Total liabilities and equity | 82,232 | 100,876 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 24,748 | 18,133 | ||||||
Later than one month and not later than three months [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 23,417 | 16,732 | ||||||
Later than one month and not later than three months [member] | Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 164 | 159 | ||||||
Later than one month and not later than three months [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 116 | 163 | ||||||
Later than one month and not later than three months [member] | Unconsolidated structured entity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 1,051 | 1,079 | ||||||
Over 3 months to 6 months [member] | ||||||||
ASSETS | ||||||||
Interest-bearing deposits with banks | 385 | 154 | ||||||
Trading loans, securities, and other | 2,919 | 2,111 | ||||||
Non-trading financial assets at fair value through profit or loss | 467 | 99 | ||||||
Derivatives | 3,097 | 5,275 | ||||||
Financial assets designated at fair value through profit or loss | 52 | 535 | ||||||
Financial assets at fair value through other comprehensive income | 4,252 | 4,150 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 4,396 | 3,010 | ||||||
Securities purchased under reverse repurchase agreements | 14,251 | 14,426 | ||||||
Loans | ||||||||
Residential mortgages | 10,680 | 6,614 | ||||||
Consumer instalment and other personal | 3,416 | 2,628 | ||||||
Business and government | 6,602 | 5,539 | ||||||
Total loans | 20,698 | 14,781 | ||||||
Loans, net of allowance for loan losses | 20,698 | 14,781 | ||||||
Customers' liability under acceptances | 130 | 132 | ||||||
Other assets | 348 | 1,926 | ||||||
Total assets | 50,995 | 46,599 | ||||||
LIABILITIES | ||||||||
Trading deposits | 18,936 | 31,081 | ||||||
Derivatives | 3,534 | 4,230 | ||||||
Securitization liabilities at fair value | 272 | 194 | ||||||
Financial liabilities designated at fair value through profit or loss | 15,286 | |||||||
Deposits | ||||||||
Personal | 8,992 | 7,541 | ||||||
Banks | 765 | 255 | ||||||
Business and government | 14,680 | 7,033 | ||||||
Total deposits, other than trading | 24,437 | 14,829 | ||||||
Acceptances | 130 | 132 | ||||||
Obligations related to securities sold short | 1,069 | 1,500 | ||||||
Obligations related to securities sold under repurchase agreements | 1,169 | 3,516 | ||||||
Securitization liabilities at amortized cost | 572 | 625 | ||||||
Insurance-related liabilities | 334 | 353 | ||||||
Other liabilities | 1,283 | 538 | ||||||
Total liabilities and equity | 67,022 | 56,998 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 18,321 | 18,533 | ||||||
Over 3 months to 6 months [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 17,106 | 17,222 | ||||||
Over 3 months to 6 months [member] | Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 245 | 240 | ||||||
Over 3 months to 6 months [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 144 | 131 | ||||||
Over 3 months to 6 months [member] | Unconsolidated structured entity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 826 | 940 | ||||||
Later than six months and not later than nine months [member] | ||||||||
ASSETS | ||||||||
Interest-bearing deposits with banks | 21 | |||||||
Trading loans, securities, and other | 2,392 | 3,653 | ||||||
Non-trading financial assets at fair value through profit or loss | 460 | |||||||
Derivatives | 3,312 | 3,276 | ||||||
Financial assets designated at fair value through profit or loss | 98 | 243 | ||||||
Financial assets at fair value through other comprehensive income | 2,927 | 5,354 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 3,391 | 3,594 | ||||||
Securities purchased under reverse repurchase agreements | 5,243 | 3,807 | ||||||
Loans | ||||||||
Residential mortgages | 8,658 | 11,166 | ||||||
Consumer instalment and other personal | 3,270 | 3,724 | ||||||
Business and government | 7,342 | 7,131 | ||||||
Total loans | 19,270 | 22,021 | ||||||
Loans, net of allowance for loan losses | 19,270 | 22,021 | ||||||
Customers' liability under acceptances | 10 | 6 | ||||||
Other assets | 130 | 120 | ||||||
Total assets | 36,773 | 42,555 | ||||||
LIABILITIES | ||||||||
Trading deposits | 6,883 | 12,954 | ||||||
Derivatives | 3,323 | 3,103 | ||||||
Securitization liabilities at fair value | 587 | 661 | ||||||
Financial liabilities designated at fair value through profit or loss | 7,903 | |||||||
Deposits | ||||||||
Personal | 7,594 | 6,245 | ||||||
Banks | 1,387 | 24 | ||||||
Business and government | 6,582 | 9,984 | ||||||
Total deposits, other than trading | 15,563 | 16,253 | ||||||
Acceptances | 10 | 6 | ||||||
Obligations related to securities sold short | 1,000 | 387 | ||||||
Obligations related to securities sold under repurchase agreements | 499 | 428 | ||||||
Securitization liabilities at amortized cost | 511 | 503 | ||||||
Insurance-related liabilities | 268 | 309 | ||||||
Other liabilities | 1,120 | 1,326 | ||||||
Total liabilities and equity | 37,667 | 35,930 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 15,087 | 13,799 | ||||||
Later than six months and not later than nine months [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 14,662 | 13,105 | ||||||
Later than six months and not later than nine months [member] | Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 244 | 237 | ||||||
Later than six months and not later than nine months [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 181 | 128 | ||||||
Later than six months and not later than nine months [member] | Unconsolidated structured entity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 329 | |||||||
Later than nine months and not later than one year [member] | ||||||||
ASSETS | ||||||||
Interest-bearing deposits with banks | 16 | |||||||
Trading loans, securities, and other | 3,338 | 3,998 | ||||||
Non-trading financial assets at fair value through profit or loss | 61 | 906 | ||||||
Derivatives | 1,882 | 2,321 | ||||||
Financial assets designated at fair value through profit or loss | 111 | 90 | ||||||
Financial assets at fair value through other comprehensive income | 5,451 | 3,962 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 1,820 | 4,059 | ||||||
Securities purchased under reverse repurchase agreements | 3,242 | 1,458 | ||||||
Loans | ||||||||
Residential mortgages | 10,025 | 11,061 | ||||||
Consumer instalment and other personal | 3,838 | 4,131 | ||||||
Business and government | 6,489 | 9,269 | ||||||
Total loans | 20,352 | 24,461 | ||||||
Loans, net of allowance for loan losses | 20,352 | 24,461 | ||||||
Customers' liability under acceptances | 6 | |||||||
Other assets | 2,669 | 142 | ||||||
Total assets | 38,932 | 41,413 | ||||||
LIABILITIES | ||||||||
Trading deposits | 1,123 | 11,739 | ||||||
Derivatives | 1,810 | 2,263 | ||||||
Securitization liabilities at fair value | 413 | 272 | ||||||
Financial liabilities designated at fair value through profit or loss | 284 | |||||||
Deposits | ||||||||
Personal | 7,653 | 7,718 | ||||||
Banks | 54 | |||||||
Business and government | 6,264 | 11,299 | ||||||
Total deposits, other than trading | 13,917 | 19,071 | ||||||
Acceptances | 6 | |||||||
Obligations related to securities sold short | 1,512 | 904 | ||||||
Obligations related to securities sold under repurchase agreements | 40 | 108 | ||||||
Securitization liabilities at amortized cost | 1,277 | 575 | ||||||
Insurance-related liabilities | 267 | 310 | ||||||
Other liabilities | 1,618 | 1,394 | ||||||
Total liabilities and equity | 22,267 | 36,636 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 14,039 | 9,519 | ||||||
Later than nine months and not later than one year [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 13,522 | 9,159 | ||||||
Later than nine months and not later than one year [member] | Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 242 | 233 | ||||||
Later than nine months and not later than one year [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 178 | 127 | ||||||
Later than nine months and not later than one year [member] | Unconsolidated structured entity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 97 | |||||||
Over 1 year to 2 years [member] | ||||||||
ASSETS | ||||||||
Trading loans, securities, and other | 9,466 | 9,683 | ||||||
Non-trading financial assets at fair value through profit or loss | 1,227 | 227 | ||||||
Derivatives | 5,890 | 7,130 | ||||||
Financial assets designated at fair value through profit or loss | 334 | 297 | ||||||
Financial assets at fair value through other comprehensive income | 20,887 | 19,777 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 5,886 | 8,103 | ||||||
Securities purchased under reverse repurchase agreements | 6 | 29 | ||||||
Loans | ||||||||
Residential mortgages | 42,282 | 43,063 | ||||||
Consumer instalment and other personal | 15,628 | 14,313 | ||||||
Business and government | 22,820 | 19,637 | ||||||
Total loans | 80,730 | 77,013 | ||||||
Loans, net of allowance for loan losses | 80,730 | 77,013 | ||||||
Other assets | 206 | 136 | ||||||
Total assets | 124,632 | 122,395 | ||||||
LIABILITIES | ||||||||
Trading deposits | 1,732 | 1,183 | ||||||
Derivatives | 5,068 | 5,510 | ||||||
Securitization liabilities at fair value | 1,479 | 1,822 | ||||||
Deposits | ||||||||
Personal | 10,521 | 10,222 | ||||||
Business and government | 31,181 | 21,345 | ||||||
Total deposits, other than trading | 41,702 | 31,567 | ||||||
Obligations related to securities sold short | 6,920 | 4,330 | ||||||
Obligations related to securities sold under repurchase agreements | 57 | 43 | ||||||
Securitization liabilities at amortized cost | 1,976 | 2,496 | ||||||
Insurance-related liabilities | 928 | 937 | ||||||
Other liabilities | 3,678 | 2,205 | ||||||
Total liabilities and equity | 63,540 | 50,093 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 28,769 | 27,089 | ||||||
Over 1 year to 2 years [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 26,311 | 25,720 | ||||||
Over 1 year to 2 years [member] | Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 928 | 902 | ||||||
Over 1 year to 2 years [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 532 | 460 | ||||||
Over 1 year to 2 years [member] | Unconsolidated structured entity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 998 | 7 | ||||||
Later than two years and not later than five years [member] | ||||||||
ASSETS | ||||||||
Trading loans, securities, and other | 25,282 | 25,772 | ||||||
Non-trading financial assets at fair value through profit or loss | 792 | 841 | ||||||
Derivatives | 9,330 | 12,436 | ||||||
Financial assets designated at fair value through profit or loss | 1,769 | 1,532 | ||||||
Financial assets at fair value through other comprehensive income | 50,072 | 57,922 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 39,035 | 34,032 | ||||||
Loans | ||||||||
Residential mortgages | 112,590 | 113,852 | ||||||
Consumer instalment and other personal | 57,159 | 56,632 | ||||||
Business and government | 71,468 | 67,922 | ||||||
Total loans | 241,217 | 238,406 | ||||||
Loans, net of allowance for loan losses | 241,217 | 238,406 | ||||||
Other assets | 226 | 301 | ||||||
Total assets | 367,723 | 371,242 | ||||||
LIABILITIES | ||||||||
Trading deposits | 4,371 | 3,260 | ||||||
Derivatives | 7,578 | 9,282 | ||||||
Securitization liabilities at fair value | 6,993 | 6,719 | ||||||
Deposits | ||||||||
Personal | 9,868 | 9,876 | ||||||
Banks | 3 | 3 | ||||||
Business and government | 49,869 | 54,780 | ||||||
Total deposits, other than trading | 59,740 | 64,659 | ||||||
Obligations related to securities sold short | 10,666 | 13,771 | ||||||
Obligations related to securities sold under repurchase agreements | 26 | 27 | ||||||
Securitization liabilities at amortized cost | 5,911 | 6,232 | ||||||
Insurance-related liabilities | 1,608 | 1,624 | ||||||
Other liabilities | 1,125 | 2,308 | ||||||
Total liabilities and equity | 98,018 | 107,882 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 109,108 | 104,704 | ||||||
Later than two years and not later than five years [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 105,994 | 101,210 | ||||||
Later than two years and not later than five years [member] | Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 2,320 | 2,188 | ||||||
Later than two years and not later than five years [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 794 | 898 | ||||||
Later than two years and not later than five years [member] | Unconsolidated structured entity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 408 | |||||||
Over 5 years [member] | ||||||||
ASSETS | ||||||||
Trading loans, securities, and other | 21,519 | 25,895 | ||||||
Non-trading financial assets at fair value through profit or loss | 878 | 848 | ||||||
Derivatives | 10,117 | 9,952 | ||||||
Financial assets designated at fair value through profit or loss | 767 | 796 | ||||||
Financial assets at fair value through other comprehensive income | 32,021 | 31,936 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | 53,199 | 50,990 | ||||||
Loans | ||||||||
Residential mortgages | 35,399 | 35,293 | ||||||
Consumer instalment and other personal | 26,956 | 26,321 | ||||||
Business and government | 61,667 | 59,251 | ||||||
Total loans | 124,022 | 120,865 | ||||||
Loans, net of allowance for loan losses | 124,022 | 120,865 | ||||||
Other assets | 97 | 90 | ||||||
Total assets | 242,620 | 241,372 | ||||||
LIABILITIES | ||||||||
Trading deposits | 1,333 | 1,005 | ||||||
Derivatives | 10,532 | 9,003 | ||||||
Securitization liabilities at fair value | 2,291 | 1,969 | ||||||
Financial liabilities designated at fair value through profit or loss | 5 | 1 | ||||||
Deposits | ||||||||
Personal | 30 | 38 | ||||||
Banks | 7 | 8 | ||||||
Business and government | 5,770 | 8,000 | ||||||
Total deposits, other than trading | 5,807 | 8,046 | ||||||
Obligations related to securities sold short | 13,507 | 11,474 | ||||||
Securitization liabilities at amortized cost | 3,270 | 2,990 | ||||||
Insurance-related liabilities | 916 | 903 | ||||||
Other liabilities | 148 | 152 | ||||||
Subordinated notes and debentures | 8,968 | 8,740 | ||||||
Total liabilities and equity | 46,777 | 44,283 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 9,017 | 9,013 | ||||||
Over 5 years [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 4,726 | 5,260 | ||||||
Over 5 years [member] | Operating lease commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 3,553 | 3,229 | ||||||
Over 5 years [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 738 | 524 | ||||||
No specific maturity [member] | ||||||||
ASSETS | ||||||||
Interest-bearing deposits with banks | 444 | 1,273 | ||||||
Trading loans, securities, and other | 61,697 | 49,570 | ||||||
Non-trading financial assets at fair value through profit or loss | 737 | 622 | ||||||
Financial assets at fair value through other comprehensive income | 1,880 | 2,174 | ||||||
Debt securities at amortized cost, net of allowance for credit losses | (1) | (75) | ||||||
Loans | ||||||||
Consumer instalment and other personal | 61,272 | 62,245 | ||||||
Credit card | 36,004 | 35,018 | ||||||
Business and government | 20,822 | 21,533 | ||||||
Total loans | 118,098 | 118,796 | ||||||
Allowance for loan losses | (3,778) | (3,549) | ||||||
Loans, net of allowance for loan losses | 114,320 | 115,247 | ||||||
Goodwill | 17,232 | 16,536 | ||||||
Other intangibles | 2,623 | 2,459 | ||||||
Land, buildings, equipment, and other depreciable assets | 5,500 | 5,324 | ||||||
Deferred tax assets | 2,136 | 2,812 | ||||||
Other assets | 9,235 | 8,595 | ||||||
Total assets | 224,830 | 212,982 | ||||||
Deposits | ||||||||
Personal | 432,927 | 424,580 | ||||||
Banks | 10,486 | 7,928 | ||||||
Business and government | 212,212 | 206,465 | ||||||
Total deposits, other than trading | 655,625 | 638,973 | ||||||
Obligations related to securities sold short | 760 | 812 | ||||||
Insurance-related liabilities | 1,750 | 1,755 | ||||||
Other liabilities | 6,332 | 5,704 | ||||||
Equity | 84,898 | 80,040 | ||||||
Total liabilities and equity | 749,365 | 727,284 | ||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 1,374 | 1,293 | ||||||
No specific maturity [member] | TD Ameritrade [member] | ||||||||
Loans | ||||||||
Investment in TD Ameritrade | 9,027 | 8,445 | ||||||
No specific maturity [member] | Credit and liquidity commitments [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | 1,316 | $ 1,293 | ||||||
No specific maturity [member] | Other purchase obligations [member] | ||||||||
Off-balance sheet commitments | ||||||||
Total off-balance sheet commitments | $ 58 |
IFRS 7 - Disclosure - Liquidi_6
IFRS 7 - Disclosure - Liquidity Risk - Summary of Remaining Contractual Maturity (Parenthetical) (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Covered bonds | $ 39,000 | $ 36,000 |
Capital lease commitments | 92 | 60 |
Commitments to extend credit to private equity investments | 316 | 205 |
Not later than one month [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Capital lease commitments | 2 | 2 |
Later than one month and not later than three months [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Capital lease commitments | 4 | 5 |
Over 3 months to 6 months [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Covered bonds | 2,000 | 1,000 |
Capital lease commitments | 6 | 7 |
Later than six months and not later than nine months [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Covered bonds | 1,000 | 3,000 |
Capital lease commitments | 5 | 6 |
Later than nine months and not later than one year [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Covered bonds | 2,000 | 2,000 |
Capital lease commitments | 5 | 6 |
Over 1 year to 2 years [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Covered bonds | 6,000 | 5,000 |
Capital lease commitments | 20 | 12 |
Later than two years and not later than five years [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Covered bonds | 23,000 | 22,000 |
Capital lease commitments | 47 | 17 |
Over 5 years [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Covered bonds | 2,000 | 3,000 |
Capital lease commitments | 3 | $ 5 |
Less than one month [member] | ||
Disclosure of assets and liabilities according to their remaining contractual maturities [line items] | ||
Covered bonds | $ 3,000 |
Current and Future Changes in_3
Current and Future Changes in Accounting Policies - Additional Information (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Nov. 01, 2018 | Oct. 31, 2018 | Apr. 30, 2018 |
Disclosure of changes in accounting policies [line items] | ||||
Equity | $ 84,898 | $ 80,040 | $ 76,662 | |
Increase (decrease) due to application of IFRS 15 [member] | ||||
Disclosure of changes in accounting policies [line items] | ||||
Equity | $ (41) |
Fair Value Measurements - Finan
Fair Value Measurements - Financial Assets and Liabilities Not Carried at Fair Value (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
FINANCIAL ASSETS | ||
Debt securities at amortized cost, net of allowance for credit losses | $ 111,544 | $ 107,171 |
Total loans, net of allowance for loan losses | 663,615 | 646,393 |
FINANCIAL LIABILITIES | ||
Securitization liabilities at amortized cost | 14,020 | 14,683 |
Subordinated notes and debentures | 8,968 | 8,740 |
Carrying value [member] | ||
FINANCIAL ASSETS | ||
Debt securities at amortized cost, net of allowance for credit losses | 111,544 | 107,171 |
Total loans, net of allowance for loan losses | 663,615 | 646,393 |
Total financial assets not carried at fair value | 775,159 | 753,564 |
FINANCIAL LIABILITIES | ||
Total deposits, other than trading | 875,343 | 851,439 |
Securitization liabilities at amortized cost | 14,020 | 14,683 |
Subordinated notes and debentures | 8,968 | 8,740 |
Total financial liabilities not carried at fair value | 898,331 | 874,862 |
Carrying value [member] | Government and government-related securities [member] | ||
FINANCIAL ASSETS | ||
Debt securities at amortized cost, net of allowance for credit losses | 63,183 | 60,535 |
Carrying value [member] | Other debt securities [member] | ||
FINANCIAL ASSETS | ||
Debt securities at amortized cost, net of allowance for credit losses | 48,361 | 46,636 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | ||
FINANCIAL ASSETS | ||
Debt securities at amortized cost, net of allowance for credit losses | 111,359 | 106,264 |
Total loans, net of allowance for loan losses | 665,018 | 642,542 |
Total financial assets not carried at fair value | 776,377 | 748,806 |
FINANCIAL LIABILITIES | ||
Total deposits, other than trading | 875,840 | 846,148 |
Securitization liabilities at amortized cost | 14,147 | 14,654 |
Subordinated notes and debentures | 9,478 | 9,027 |
Total financial liabilities not carried at fair value | 899,465 | 869,829 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Government and government-related securities [member] | ||
FINANCIAL ASSETS | ||
Debt securities at amortized cost, net of allowance for credit losses | 63,073 | 59,948 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Other debt securities [member] | ||
FINANCIAL ASSETS | ||
Debt securities at amortized cost, net of allowance for credit losses | $ 48,286 | $ 46,316 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Trading loans, securities, and other | ||
Trading loans, securities, and other | $ 132,805 | $ 127,897 |
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 4,202 | 4,015 |
Derivatives | ||
Derivative financial assets | 43,624 | 56,996 |
Financial assets designated at fair value through profit or loss | ||
Financial assets designated at fair value through profit or loss | 3,379 | 3,618 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 125,109 | 130,600 |
Securities purchased under reverse repurchase agreements | 149,949 | 127,379 |
FINANCIAL LIABILITIES | ||
Trading deposits | 53,974 | 114,704 |
Derivatives | ||
Derivative financial liabilities | 42,199 | 48,270 |
Securitization liabilities at fair value | 12,738 | 12,618 |
Financial liabilities designated at fair value through profit or loss | 57,783 | 16 |
Obligations related to securities sold short | 36,365 | 39,478 |
Obligations related to securities sold under repurchase agreements | 107,885 | 93,389 |
Recurring fair value measurement [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 132,805 | 127,897 |
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 4,202 | 4,015 |
Derivatives | ||
Derivative financial assets | 43,624 | 56,996 |
Financial assets designated at fair value through profit or loss | ||
Financial assets designated at fair value through profit or loss | 3,379 | 3,618 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 125,109 | 130,600 |
Securities purchased under reverse repurchase agreements | 4,796 | 3,920 |
FINANCIAL LIABILITIES | ||
Trading deposits | 53,974 | 114,704 |
Derivatives | ||
Derivative financial liabilities | 42,199 | 48,270 |
Securitization liabilities at fair value | 12,738 | 12,618 |
Financial liabilities designated at fair value through profit or loss | 57,783 | 16 |
Obligations related to securities sold short | 36,365 | 39,478 |
Obligations related to securities sold under repurchase agreements | 1,893 | 3,797 |
Recurring fair value measurement [member] | Level 1 of fair value hierarchy [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 62,176 | 49,399 |
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 190 | 176 |
Derivatives | ||
Derivative financial assets | 199 | 201 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 292 | 544 |
Derivatives | ||
Derivative financial liabilities | 170 | 176 |
Obligations related to securities sold short | 787 | 1,142 |
Recurring fair value measurement [member] | Level 2 of fair value hierarchy [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 70,563 | 78,478 |
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 3,545 | 3,412 |
Derivatives | ||
Derivative financial assets | 42,866 | 56,303 |
Financial assets designated at fair value through profit or loss | ||
Financial assets designated at fair value through profit or loss | 3,379 | 3,618 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 123,212 | 127,643 |
Securities purchased under reverse repurchase agreements | 4,796 | 3,920 |
FINANCIAL LIABILITIES | ||
Trading deposits | 50,295 | 111,680 |
Derivatives | ||
Derivative financial liabilities | 40,581 | 46,943 |
Securitization liabilities at fair value | 12,738 | 12,618 |
Financial liabilities designated at fair value through profit or loss | 57,770 | 2 |
Obligations related to securities sold short | 35,578 | 38,336 |
Obligations related to securities sold under repurchase agreements | 1,893 | 3,797 |
Recurring fair value measurement [member] | Level 3 of fair value hierarchy [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 66 | 20 |
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 467 | 427 |
Derivatives | ||
Derivative financial assets | 559 | 492 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 1,605 | 2,413 |
FINANCIAL LIABILITIES | ||
Trading deposits | 3,679 | 3,024 |
Derivatives | ||
Derivative financial liabilities | 1,448 | 1,151 |
Financial liabilities designated at fair value through profit or loss | 13 | 14 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Canadian Government Federal Debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 9,913 | 14,462 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 11,009 | 12,731 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Canadian government provincial debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 7,911 | 7,538 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 11,763 | 9,507 |
Recurring fair value measurement [member] | Government and government-related securities [member] | U.S. federal, state, municipal governments, and agencies debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 16,050 | 19,732 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 45,252 | 45,766 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Other OECD government-guaranteed debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 4,149 | 3,324 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 18,177 | 20,096 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Mortgage-backed securities [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 2,054 | 2,029 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 6,096 | 6,633 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Level 1 of fair value hierarchy [member] | Canadian Government Federal Debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 786 | 127 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Level 2 of fair value hierarchy [member] | Canadian Government Federal Debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 9,127 | 14,335 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 11,009 | 12,731 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Level 2 of fair value hierarchy [member] | Canadian government provincial debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 7,865 | 7,535 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 11,763 | 9,507 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Level 2 of fair value hierarchy [member] | U.S. federal, state, municipal governments, and agencies debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 16,050 | 19,732 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 45,252 | 45,766 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Level 2 of fair value hierarchy [member] | Other OECD government-guaranteed debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 4,149 | 3,324 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 18,177 | 19,896 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Level 2 of fair value hierarchy [member] | Mortgage-backed securities [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 2,054 | 2,029 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 6,096 | 6,633 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Level 3 of fair value hierarchy [member] | Canadian government provincial debt [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 46 | 3 |
Recurring fair value measurement [member] | Government and government-related securities [member] | Level 3 of fair value hierarchy [member] | Other OECD government-guaranteed debt [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 200 | |
Recurring fair value measurement [member] | Other debt securities [member] | Canadian issuers [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 5,975 | 5,631 |
Recurring fair value measurement [member] | Other debt securities [member] | Other issuers [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 13,596 | 14,475 |
Recurring fair value measurement [member] | Other debt securities [member] | Assets backed security [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 20,036 | 21,969 |
Recurring fair value measurement [member] | Other debt securities [member] | Non Agency Collateralized Mortgage Obligation Portfolio [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 311 | 472 |
Recurring fair value measurement [member] | Other debt securities [member] | Corporate and other debt [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 8,268 | 8,507 |
Recurring fair value measurement [member] | Other debt securities [member] | Level 2 of fair value hierarchy [member] | Canadian issuers [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 5,973 | 5,630 |
Recurring fair value measurement [member] | Other debt securities [member] | Level 2 of fair value hierarchy [member] | Other issuers [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 13,578 | 14,459 |
Recurring fair value measurement [member] | Other debt securities [member] | Level 2 of fair value hierarchy [member] | Assets backed security [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 20,036 | 21,407 |
Recurring fair value measurement [member] | Other debt securities [member] | Level 2 of fair value hierarchy [member] | Non Agency Collateralized Mortgage Obligation Portfolio [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 311 | 472 |
Recurring fair value measurement [member] | Other debt securities [member] | Level 2 of fair value hierarchy [member] | Corporate and other debt [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 8,245 | 8,483 |
Recurring fair value measurement [member] | Other debt securities [member] | Level 3 of fair value hierarchy [member] | Canadian issuers [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 2 | 1 |
Recurring fair value measurement [member] | Other debt securities [member] | Level 3 of fair value hierarchy [member] | Other issuers [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 18 | 16 |
Recurring fair value measurement [member] | Other debt securities [member] | Level 3 of fair value hierarchy [member] | Assets backed security [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 562 | |
Recurring fair value measurement [member] | Other debt securities [member] | Level 3 of fair value hierarchy [member] | Corporate and other debt [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 23 | 24 |
Recurring fair value measurement [member] | Equity securities [member] | Common shares [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 49,915 | 43,752 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 1,618 | 1,804 |
Recurring fair value measurement [member] | Equity securities [member] | Preferred shares [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 57 | 59 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 261 | 370 |
Recurring fair value measurement [member] | Equity securities [member] | Level 1 of fair value hierarchy [member] | Common shares [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 49,784 | 43,699 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 84 | 309 |
Recurring fair value measurement [member] | Equity securities [member] | Level 1 of fair value hierarchy [member] | Preferred shares [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 57 | 33 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 208 | 235 |
Recurring fair value measurement [member] | Equity securities [member] | Level 2 of fair value hierarchy [member] | Common shares [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 131 | 53 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 2 | 3 |
Recurring fair value measurement [member] | Equity securities [member] | Level 2 of fair value hierarchy [member] | Preferred shares [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 26 | |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 3 | |
Recurring fair value measurement [member] | Equity securities [member] | Level 3 of fair value hierarchy [member] | Common shares [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 1,532 | 1,492 |
Recurring fair value measurement [member] | Equity securities [member] | Level 3 of fair value hierarchy [member] | Preferred shares [member] | ||
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 50 | 135 |
Recurring fair value measurement [member] | Trading loans [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 11,335 | 10,990 |
Recurring fair value measurement [member] | Trading loans [member] | Level 2 of fair value hierarchy [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 11,335 | 10,990 |
Recurring fair value measurement [member] | Commodities [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 11,828 | 5,880 |
Recurring fair value measurement [member] | Commodities [member] | Level 1 of fair value hierarchy [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 11,549 | 5,540 |
Recurring fair value measurement [member] | Commodities [member] | Level 2 of fair value hierarchy [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 279 | 340 |
Recurring fair value measurement [member] | Retained interests [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 22 | 25 |
Recurring fair value measurement [member] | Retained interests [member] | Level 2 of fair value hierarchy [member] | ||
Trading loans, securities, and other | ||
Trading loans, securities, and other | 22 | 25 |
Recurring fair value measurement [member] | Securities [member] | ||
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 3,204 | 2,679 |
Financial assets designated at fair value through profit or loss | ||
Financial assets designated at fair value through profit or loss | 3,379 | 3,618 |
Recurring fair value measurement [member] | Securities [member] | Level 1 of fair value hierarchy [member] | ||
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 190 | 176 |
Recurring fair value measurement [member] | Securities [member] | Level 2 of fair value hierarchy [member] | ||
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 2,567 | 2,095 |
Financial assets designated at fair value through profit or loss | ||
Financial assets designated at fair value through profit or loss | 3,379 | 3,618 |
Recurring fair value measurement [member] | Securities [member] | Level 3 of fair value hierarchy [member] | ||
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 447 | 408 |
Recurring fair value measurement [member] | Loans [member] | ||
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 998 | 1,336 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 2,318 | 2,745 |
Recurring fair value measurement [member] | Loans [member] | Level 2 of fair value hierarchy [member] | ||
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 978 | 1,317 |
Financial assets at fair value through other comprehensive income | ||
Financial assets at fair value through other comprehensive income | 2,318 | 2,745 |
Recurring fair value measurement [member] | Loans [member] | Level 3 of fair value hierarchy [member] | ||
Non-trading financial assets at fair value through profit or loss | ||
Non-trading financial assets at fair value through profit or loss | 20 | 19 |
Recurring fair value measurement [member] | Interest rate contracts [member] | ||
Derivatives | ||
Derivative financial assets | 11,806 | 12,398 |
Derivatives | ||
Derivative financial liabilities | 10,525 | 9,733 |
Recurring fair value measurement [member] | Interest rate contracts [member] | Level 1 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 31 | 33 |
Derivatives | ||
Derivative financial liabilities | 28 | 24 |
Recurring fair value measurement [member] | Interest rate contracts [member] | Level 2 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 11,775 | 12,365 |
Derivatives | ||
Derivative financial liabilities | 10,420 | 9,646 |
Recurring fair value measurement [member] | Interest rate contracts [member] | Level 3 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial liabilities | 77 | 63 |
Recurring fair value measurement [member] | Foreign exchange contracts [member] | ||
Derivatives | ||
Derivative financial assets | 28,800 | 39,675 |
Derivatives | ||
Derivative financial liabilities | 26,158 | 34,918 |
Recurring fair value measurement [member] | Foreign exchange contracts [member] | Level 1 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 41 | 24 |
Derivatives | ||
Derivative financial liabilities | 29 | 18 |
Recurring fair value measurement [member] | Foreign exchange contracts [member] | Level 2 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 28,753 | 39,647 |
Derivatives | ||
Derivative financial liabilities | 26,121 | 34,897 |
Recurring fair value measurement [member] | Foreign exchange contracts [member] | Level 3 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 6 | 4 |
Derivatives | ||
Derivative financial liabilities | 8 | 3 |
Recurring fair value measurement [member] | Credit Derivative Contracts [member] | ||
Derivatives | ||
Derivative financial assets | 14 | 9 |
Derivatives | ||
Derivative financial liabilities | 418 | 386 |
Recurring fair value measurement [member] | Credit Derivative Contracts [member] | Level 2 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 14 | 9 |
Derivatives | ||
Derivative financial liabilities | 418 | 386 |
Recurring fair value measurement [member] | Equity contracts [member] | ||
Derivatives | ||
Derivative financial assets | 1,830 | 3,623 |
Derivatives | ||
Derivative financial liabilities | 4,144 | 2,396 |
Recurring fair value measurement [member] | Equity contracts [member] | Level 2 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 1,305 | 3,170 |
Derivatives | ||
Derivative financial liabilities | 2,794 | 1,319 |
Recurring fair value measurement [member] | Equity contracts [member] | Level 3 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 525 | 453 |
Derivatives | ||
Derivative financial liabilities | 1,350 | 1,077 |
Recurring fair value measurement [member] | Commodity contracts [member] | ||
Derivatives | ||
Derivative financial assets | 1,174 | 1,291 |
Derivatives | ||
Derivative financial liabilities | 954 | 837 |
Recurring fair value measurement [member] | Commodity contracts [member] | Level 1 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 127 | 144 |
Derivatives | ||
Derivative financial liabilities | 113 | 134 |
Recurring fair value measurement [member] | Commodity contracts [member] | Level 2 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 1,019 | 1,112 |
Derivatives | ||
Derivative financial liabilities | 828 | 695 |
Recurring fair value measurement [member] | Commodity contracts [member] | Level 3 of fair value hierarchy [member] | ||
Derivatives | ||
Derivative financial assets | 28 | 35 |
Derivatives | ||
Derivative financial liabilities | $ 13 | $ 8 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (Detail) - Level 3 of fair value hierarchy [member] - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Trading deposits [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | $ 3,465 | $ 2,875 | $ 3,024 | $ 2,521 |
Total realized and unrealized (gains) losses included in income | 188 | (40) | 287 | (7) |
Total realized and unrealized (gains) losses included in OCI | 0 | 0 | 0 | 0 |
Movements purchases | (315) | (69) | (391) | (210) |
Movements issuances | 397 | 463 | 769 | 1,099 |
Movements others | (56) | (285) | (10) | (449) |
Transfer Into Level 3 | 4 | 4 | ||
Transfers Out of Level 3 | (8) | (18) | ||
Fair value ending balance | 3,679 | 2,940 | 3,679 | 2,940 |
Change in Unrealized gain (losses) on instruments still held | 189 | (20) | 255 | (28) |
Derivative financial liabilities [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 769 | 884 | 659 | 960 |
Total realized and unrealized (gains) losses included in income | 168 | (62) | 316 | (95) |
Total realized and unrealized (gains) losses included in OCI | 0 | 0 | 0 | 0 |
Movements purchases | (21) | (28) | (40) | (47) |
Movements issuances | 58 | 64 | 115 | 102 |
Movements others | (89) | (102) | (165) | (166) |
Transfer Into Level 3 | 4 | 4 | ||
Transfers Out of Level 3 | 2 | |||
Fair value ending balance | 889 | 756 | 889 | 756 |
Change in Unrealized gain (losses) on instruments still held | 167 | (70) | 293 | (94) |
Derivative financial liabilities [member] | Interest rate contracts [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 64 | 51 | 63 | 70 |
Total realized and unrealized (gains) losses included in income | 12 | 17 | 16 | |
Total realized and unrealized (gains) losses included in OCI | 0 | 0 | 0 | 0 |
Movements others | 1 | 1 | (2) | (1) |
Fair value ending balance | 77 | 69 | 77 | 69 |
Change in Unrealized gain (losses) on instruments still held | 11 | 20 | 15 | 1 |
Derivative financial liabilities [member] | Foreign exchange contracts [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | (2) | (1) | (1) | (1) |
Total realized and unrealized (gains) losses included in income | 1 | 1 | ||
Total realized and unrealized (gains) losses included in OCI | 0 | 0 | 0 | 0 |
Movements others | (1) | (2) | ||
Transfer Into Level 3 | 4 | 4 | ||
Fair value ending balance | 2 | (1) | 2 | (1) |
Derivative financial liabilities [member] | Equity contracts [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 699 | 842 | 624 | 893 |
Total realized and unrealized (gains) losses included in income | 190 | (62) | 295 | (70) |
Total realized and unrealized (gains) losses included in OCI | 0 | 0 | 0 | 0 |
Movements purchases | (21) | (28) | (40) | (47) |
Movements issuances | 58 | 64 | 115 | 102 |
Movements others | (101) | (105) | (169) | (169) |
Transfers Out of Level 3 | 2 | |||
Fair value ending balance | 825 | 711 | 825 | 711 |
Change in Unrealized gain (losses) on instruments still held | 179 | (73) | 281 | (74) |
Derivative financial liabilities [member] | Commodity contracts [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 8 | (8) | (27) | (2) |
Total realized and unrealized (gains) losses included in income | (34) | (18) | 4 | (25) |
Total realized and unrealized (gains) losses included in OCI | 0 | 0 | 0 | 0 |
Movements others | 11 | 3 | 8 | 4 |
Fair value ending balance | (15) | (23) | (15) | (23) |
Change in Unrealized gain (losses) on instruments still held | (23) | (17) | (3) | (21) |
Financial liabilities designated at fair value through profit or loss [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 3 | 29 | 14 | 7 |
Total realized and unrealized (gains) losses included in income | (18) | (13) | (40) | 19 |
Total realized and unrealized (gains) losses included in OCI | 0 | 0 | 0 | 0 |
Movements issuances | 32 | 34 | 49 | 59 |
Movements others | (4) | (34) | (10) | (69) |
Fair value ending balance | 13 | 16 | 13 | 16 |
Change in Unrealized gain (losses) on instruments still held | (14) | (14) | (30) | 12 |
Obligations Related to Securities Sold Short [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Total realized and unrealized (gains) losses included in OCI | 0 | 0 | 0 | 0 |
Transfer Into Level 3 | 4 | 4 | ||
Fair value ending balance | 4 | 4 | ||
Trading loans, securities, and other [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 10 | 122 | 20 | 14 |
Total realized and unrealized gains (losses) included in income | (1) | (1) | (1) | |
Movements purchases | 2 | |||
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (9) | 5 | (20) | |
Transfer Into Level 3 | 66 | 24 | 67 | 146 |
Transfers Out of Level 3 | (1) | (11) | ||
Fair value ending balance | 66 | 150 | 66 | 150 |
Change in Unrealized gain (losses) on instruments still held | (1) | 4 | (1) | 4 |
Trading loans, securities, and other [member] | Government and government-related securities [member] | Canadian government provincial debt [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 0 | 3 | ||
Total realized and unrealized gains (losses) included in income | (1) | (1) | ||
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (3) | |||
Transfer Into Level 3 | 47 | 47 | ||
Fair value ending balance | 46 | 46 | ||
Change in Unrealized gain (losses) on instruments still held | (1) | (1) | ||
Trading loans, securities, and other [member] | Other debt securities [member] | Canadian issuers [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 1 | 1 | 1 | 6 |
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (4) | |||
Transfer Into Level 3 | 1 | 1 | 1 | |
Transfers Out of Level 3 | (2) | |||
Fair value ending balance | 2 | 1 | 2 | 1 |
Trading loans, securities, and other [member] | Other debt securities [member] | Other issuers [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 9 | 121 | 16 | 8 |
Total realized and unrealized gains (losses) included in income | (1) | 1 | (1) | |
Movements purchases | 2 | |||
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (9) | 5 | (17) | 4 |
Transfer Into Level 3 | 18 | 24 | 19 | 145 |
Transfers Out of Level 3 | (1) | (9) | ||
Fair value ending balance | 18 | 149 | 18 | 149 |
Change in Unrealized gain (losses) on instruments still held | 4 | 4 | ||
Non trading financial assets at fair value through profit or loss [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 516 | 342 | 427 | 320 |
Total realized and unrealized gains (losses) included in income | 56 | 12 | 59 | 25 |
Total realized and unrealized gains (losses) included in OCI | 1 | 2 | ||
Movements purchases | 65 | 13 | 137 | 28 |
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (171) | 8 | (179) | (2) |
Transfer Into Level 3 | 21 | 4 | ||
Fair value ending balance | 467 | 375 | 467 | 375 |
Change in Unrealized gain (losses) on instruments still held | 5 | 12 | 7 | 21 |
Non trading financial assets at fair value through profit or loss [member] | Securities [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 495 | 324 | 408 | 305 |
Total realized and unrealized gains (losses) included in income | 56 | 11 | 58 | 27 |
Total realized and unrealized gains (losses) included in OCI | 1 | 2 | ||
Movements purchases | 65 | 13 | 136 | 26 |
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (170) | 8 | (178) | (2) |
Transfer Into Level 3 | 21 | |||
Fair value ending balance | 447 | 356 | 447 | 356 |
Change in Unrealized gain (losses) on instruments still held | 5 | 11 | 6 | 23 |
Non trading financial assets at fair value through profit or loss [member] | Loans [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 21 | 18 | 19 | 15 |
Total realized and unrealized gains (losses) included in income | 1 | 1 | (2) | |
Movements purchases | 1 | 2 | ||
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (1) | (1) | ||
Transfer Into Level 3 | 4 | |||
Fair value ending balance | 20 | 19 | 20 | 19 |
Change in Unrealized gain (losses) on instruments still held | 1 | 1 | (2) | |
Financial assets at fair value through other comprehensive income [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 2,344 | 2,341 | 2,413 | 2,428 |
Total realized and unrealized gains (losses) included in income | 14 | 14 | 24 | 8 |
Total realized and unrealized gains (losses) included in OCI | (9) | 8 | (12) | 21 |
Movements purchases | 15 | 1 | 20 | 7 |
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (200) | 77 | (277) | (23) |
Transfers Out of Level 3 | (559) | (563) | ||
Fair value ending balance | 1,605 | 2,441 | 1,605 | 2,441 |
Change in Unrealized gain (losses) on instruments still held | (10) | 6 | (19) | 19 |
Financial assets at fair value through other comprehensive income [member] | Government and government-related securities [member] | Other OECD government-guaranteed debt [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 210 | 193 | 200 | 203 |
Total realized and unrealized gains (losses) included in income | 14 | 11 | 24 | 4 |
Total realized and unrealized gains (losses) included in OCI | (3) | |||
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (224) | (224) | ||
Fair value ending balance | 204 | 204 | ||
Change in Unrealized gain (losses) on instruments still held | (3) | (3) | ||
Financial assets at fair value through other comprehensive income [member] | Other debt securities [member] | Asset-backed securities [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 559 | 529 | 562 | 553 |
Total realized and unrealized gains (losses) included in OCI | (3) | (1) | ||
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | 23 | (3) | ||
Transfers Out of Level 3 | (559) | (562) | ||
Fair value ending balance | 549 | 549 | ||
Change in Unrealized gain (losses) on instruments still held | (3) | (1) | ||
Financial assets at fair value through other comprehensive income [member] | Other debt securities [member] | Corporate and other debt [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 23 | 99 | 24 | 95 |
Total realized and unrealized gains (losses) included in income | 3 | 4 | ||
Total realized and unrealized gains (losses) included in OCI | 1 | (1) | 6 | |
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | (2) | |||
Fair value ending balance | 23 | 103 | 23 | 103 |
Change in Unrealized gain (losses) on instruments still held | 1 | (1) | 6 | |
Financial assets at fair value through other comprehensive income [member] | Equity securities [member] | Common shares [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 1,495 | 1,404 | 1,492 | 1,469 |
Total realized and unrealized gains (losses) included in OCI | (1) | (3) | (2) | |
Movements purchases | 14 | 1 | 19 | 7 |
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | 24 | 53 | 21 | (19) |
Fair value ending balance | 1,532 | 1,455 | 1,532 | 1,455 |
Change in Unrealized gain (losses) on instruments still held | (1) | (2) | (1) | (4) |
Financial assets at fair value through other comprehensive income [member] | Equity securities [member] | Preferred shares [member] | ||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | ||||
Fair value beginning balance | 57 | 116 | 135 | 108 |
Total realized and unrealized gains (losses) included in OCI | (8) | 13 | (11) | 21 |
Movements purchases | 1 | 1 | ||
Movements issuances | 0 | 0 | 0 | 0 |
Movements others | 1 | (74) | 1 | |
Transfers Out of Level 3 | (1) | |||
Fair value ending balance | 50 | 130 | 50 | 130 |
Change in Unrealized gain (losses) on instruments still held | $ (9) | $ 13 | $ (17) | $ 21 |
Fair Value Measurements - Sch_2
Fair Value Measurements - Schedule of Reconciliation of Changes in Fair Value for Level 3 Assets and Liabilities (Parenthetical) (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Feb. 01, 2019 | Nov. 01, 2018 | Oct. 31, 2018 | Apr. 30, 2018 | Feb. 01, 2018 | Nov. 01, 2017 |
Disclosure of fair value measurement of assets and liabilities [Line Items] | |||||||
Derivative assets | $ 43,624 | $ 56,996 | |||||
Derivative liabilities | 42,199 | $ 48,270 | |||||
Netted Derivatives [member] | Level 3 of fair value hierarchy [member] | |||||||
Disclosure of fair value measurement of assets and liabilities [Line Items] | |||||||
Derivative assets | 600 | $ 500 | $ 500 | $ 700 | $ 900 | $ 900 | |
Derivative liabilities | $ 1,500 | $ 1,300 | $ 1,200 | $ 1,400 | $ 1,800 | $ 1,900 |
Securities - Summary of Unreali
Securities - Summary of Unrealized Gains and Losses (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Financial assets at fair value through other comprehensive income | $ 125,109 | $ 130,600 |
Government and government-related securities [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 92,091 | 94,649 |
Gross unrealized gains | 363 | 502 |
Gross unrealized (losses) | (157) | (418) |
Financial assets at fair value through other comprehensive income | 92,297 | 94,733 |
Government and government-related securities [member] | Canadian Government Federal Debt [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 10,978 | 12,740 |
Gross unrealized gains | 34 | 38 |
Gross unrealized (losses) | (3) | (47) |
Financial assets at fair value through other comprehensive income | 11,009 | 12,731 |
Government and government-related securities [member] | Canadian government provincial debt [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 11,705 | 9,443 |
Gross unrealized gains | 78 | 75 |
Gross unrealized (losses) | (20) | (11) |
Financial assets at fair value through other comprehensive income | 11,763 | 9,507 |
Government and government-related securities [member] | U.S. federal, state, municipal governments, and agencies debt [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 45,226 | 45,857 |
Gross unrealized gains | 156 | 265 |
Gross unrealized (losses) | (130) | (356) |
Financial assets at fair value through other comprehensive income | 45,252 | 45,766 |
Government and government-related securities [member] | Other OECD government-guaranteed debt [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 18,131 | 20,034 |
Gross unrealized gains | 50 | 65 |
Gross unrealized (losses) | (4) | (3) |
Financial assets at fair value through other comprehensive income | 18,177 | 20,096 |
Government and government-related securities [member] | Mortgage- backed securities [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 6,051 | 6,575 |
Gross unrealized gains | 45 | 59 |
Gross unrealized (losses) | (1) | |
Financial assets at fair value through other comprehensive income | 6,096 | 6,633 |
Other debt securities [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 28,568 | 30,906 |
Gross unrealized gains | 97 | 119 |
Gross unrealized (losses) | (50) | (77) |
Financial assets at fair value through other comprehensive income | 28,615 | 30,948 |
Other debt securities [member] | Asset-backed financings [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 20,000 | 21,901 |
Gross unrealized gains | 61 | 87 |
Gross unrealized (losses) | (25) | (19) |
Financial assets at fair value through other comprehensive income | 20,036 | 21,969 |
Other debt securities [member] | Non Agency Collateralized Mortgage Obligation Portfolio [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 311 | 471 |
Gross unrealized gains | 1 | |
Financial assets at fair value through other comprehensive income | 311 | 472 |
Other debt securities [member] | Corporate and other debt [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 8,257 | 8,534 |
Gross unrealized gains | 36 | 31 |
Gross unrealized (losses) | (25) | (58) |
Financial assets at fair value through other comprehensive income | 8,268 | 8,507 |
Debt securities [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 120,659 | 125,555 |
Gross unrealized gains | 460 | 621 |
Gross unrealized (losses) | (207) | (495) |
Financial assets at fair value through other comprehensive income | 120,912 | 125,681 |
Equity securities [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 1,921 | 2,101 |
Gross unrealized gains | 35 | 138 |
Gross unrealized (losses) | (77) | (65) |
Financial assets at fair value through other comprehensive income | 1,879 | 2,174 |
Equity securities [member] | Common shares [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 1,616 | 1,725 |
Gross unrealized gains | 30 | 118 |
Gross unrealized (losses) | (28) | (39) |
Financial assets at fair value through other comprehensive income | 1,618 | 1,804 |
Equity securities [member] | Preferred shares [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 305 | 376 |
Gross unrealized gains | 5 | 20 |
Gross unrealized (losses) | (49) | (26) |
Financial assets at fair value through other comprehensive income | 261 | 370 |
Securities [member] | ||
Disclosure Of Contractual Repricing And Maturity Schedule [line items] | ||
Cost/amortized cost | 122,580 | 127,656 |
Gross unrealized gains | 495 | 759 |
Gross unrealized (losses) | (284) | (560) |
Financial assets at fair value through other comprehensive income | $ 122,791 | $ 127,855 |
Securities - Summary of Equity
Securities - Summary of Equity Securities Designated at Fair Value Through Other Comprehensive Income (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | Oct. 31, 2018 | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||||
Fair value | $ 1,879 | $ 1,879 | $ 2,174 | ||
Dividend Income recognized | 23 | $ 21 | 47 | $ 41 | |
Common shares [member] | |||||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||||
Fair value | 1,618 | 1,618 | 1,804 | ||
Dividend Income recognized | 20 | 17 | 40 | 33 | |
Preferred shares [member] | |||||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||||
Fair value | 261 | 261 | $ 370 | ||
Dividend Income recognized | $ 3 | $ 4 | $ 7 | $ 8 |
Securities - Additional Informa
Securities - Additional Information (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | Oct. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | |||||
Dividend Income recognized | $ 23 | $ 21 | $ 47 | $ 41 | |
Allowance for credit losses on debt securities | 3,778 | 3,549 | 3,778 | 3,549 | |
Provision for credit losses | (633) | (556) | (1,483) | (1,249) | |
Debt securities [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Allowance for credit losses on debt securities | 4 | 4 | $ 80 | ||
Debt securities at amortized cost [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Allowance for credit losses on debt securities | 1 | 1 | 75 | ||
Provision for credit losses | (2) | (2) | |||
Debt securities FVOCI [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Allowance for credit losses on debt securities | 3 | 3 | $ 5 | ||
Provision for credit losses | (2) | 16 | (2) | 20 | |
Securities disposed [member] | Securities [member] | |||||
Disclosure of detailed information about financial instruments [line items] | |||||
Disposal of equity securities | 133 | 10 | 312 | 14 | |
Gain loss on sale of equity securities measured at fair value | 44 | 68 | 2 | ||
Dividend Income recognized | $ 1 | $ 3 |
Securities - Summary of Net Sec
Securities - Summary of Net Securities Gains (Losses) (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Disclosure of financial assets [line items] | ||||
Net realized gains (losses) | $ 35 | $ 33 | $ 24 | $ 36 |
Debt securities [member] | Financial assets amortized cost [member] | ||||
Disclosure of financial assets [line items] | ||||
Net realized gains (losses) | 30 | 44 | 30 | |
Debt securities [member] | Financial assets at fair value through other comprehensive income, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Net realized gains (losses) | $ 35 | $ 3 | $ (20) | $ 6 |
Securities - Summary of Debt Se
Securities - Summary of Debt Securities by Risk Rating (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [line items] | ||
Debt securities | $ 232,457 | $ 232,927 |
Allowance for credit losses on debt securities at amortized cost | 1 | 75 |
Debt securities, net of allowance | 232,456 | 232,852 |
Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 230,279 | 230,488 |
Non investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 2,178 | 2,194 |
Watch and classified [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 11 | |
Default [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 234 | |
Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 232,417 | 232,628 |
Allowance for credit losses on debt securities at amortized cost | 1 | 1 |
Debt securities, net of allowance | 232,416 | 232,627 |
Stage 1 [member] | Investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 230,279 | 230,488 |
Stage 1 [member] | Non investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 2,138 | 2,140 |
Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 40 | 65 |
Allowance for credit losses on debt securities at amortized cost | 4 | |
Debt securities, net of allowance | 40 | 61 |
Stage 2 [member] | Non investment grade [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | $ 40 | 54 |
Stage 2 [member] | Watch and classified [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 11 | |
Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | 234 | |
Allowance for credit losses on debt securities at amortized cost | 70 | |
Debt securities, net of allowance | 164 | |
Stage 3 [member] | Default [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities | $ 234 |
Loans, Impaired Loans, and Al_3
Loans, Impaired Loans, and Allowance For Credit Losses - Summary of Gross Carrying Amounts of Loans and Credit Risk Exposures on Loan Commitments and Financial Guarantee Contracts by Internal Risk Ratings (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Total loans excluding acquired credit-impaired loans | $ 685,518 | $ 669,501 |
Allowance for loan losses | 3,762 | 3,531 |
Loans, net of allowance | 681,756 | 665,970 |
Acquired credit-impaired loans | 382 | 453 |
Allowance for loan losses | 16 | 18 |
Loans, net of allowance | 366 | 435 |
Total loans | 685,900 | 669,954 |
Allowance for loan losses | 3,778 | 3,549 |
Loans, net of allowance | 682,122 | 666,405 |
Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 174,669 | 172,033 |
Allowance for loan losses | 1,157 | 1,101 |
Loans, net of allowance | 173,512 | 170,932 |
Consumer instalment and other personal [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 92,843 | 88,889 |
Consumer instalment and other personal [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 44,483 | 49,198 |
Consumer instalment and other personal [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 26,832 | 24,071 |
Consumer instalment and other personal [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 9,995 | 9,361 |
Consumer instalment and other personal [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 516 | 514 |
Off-balance sheet credit risks [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 575,559 | 550,000 |
Allowance for off balance sheet credit instruments | 1,105 | 1,029 |
Total off balance sheet credit instruments, net of allowance | 574,454 | 548,971 |
Off-balance sheet credit risks [member] | Retail exposures [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 262,158 | 249,151 |
Off-balance sheet credit risks [member] | Retail exposures [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 52,851 | 53,090 |
Off-balance sheet credit risks [member] | Retail exposures [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 13,441 | 12,767 |
Off-balance sheet credit risks [member] | Retail exposures [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 2,649 | 2,403 |
Off-balance sheet credit risks [member] | Non retail exposures [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 176,875 | 168,316 |
Off-balance sheet credit risks [member] | Non retail exposures [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 65,517 | 62,311 |
Off-balance sheet credit risks [member] | Non retail exposures [member] | Watch and classified [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 2,068 | 1,962 |
Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 227,046 | 224,957 |
Allowance for loan losses | 106 | 105 |
Loans, net of allowance | 226,940 | 224,852 |
Residential mortgages [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 174,363 | 168,722 |
Residential mortgages [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 42,947 | 47,997 |
Residential mortgages [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 6,640 | 5,373 |
Residential mortgages [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 2,681 | 2,473 |
Residential mortgages [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 415 | 392 |
Credit card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 36,004 | 35,018 |
Allowance for loan losses | 1,091 | 1,003 |
Loans, net of allowance | 34,913 | 34,015 |
Credit card [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 7,048 | 7,245 |
Credit card [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 10,069 | 9,846 |
Credit card [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 12,096 | 11,593 |
Credit card [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 6,669 | 6,213 |
Credit card [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 122 | 121 |
Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 247,799 | 237,493 |
Allowance for loan losses | 1,408 | 1,322 |
Loans, net of allowance | 246,391 | 236,171 |
Business and government [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 925 | 563 |
Business and government [member] | Investment grade or low/normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 119,779 | 118,471 |
Business and government [member] | Non investment grade or medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 121,664 | 113,950 |
Business and government [member] | Watch and classified or high risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 5,431 | 4,509 |
Stage 1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans excluding acquired credit-impaired loans | 662,801 | 648,143 |
Allowance for loan losses | 1,691 | 1,628 |
Loans, net of allowance | 661,110 | 646,515 |
Total loans | 662,801 | 648,143 |
Allowance for loan losses | 1,691 | 1,628 |
Loans, net of allowance | 661,110 | 646,515 |
Stage 1 [member] | Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 168,124 | 165,080 |
Allowance for loan losses | 621 | 574 |
Loans, net of allowance | 167,503 | 164,506 |
Stage 1 [member] | Consumer instalment and other personal [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 91,848 | 87,906 |
Stage 1 [member] | Consumer instalment and other personal [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 43,448 | 48,008 |
Stage 1 [member] | Consumer instalment and other personal [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 25,812 | 23,008 |
Stage 1 [member] | Consumer instalment and other personal [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 7,016 | 6,158 |
Stage 1 [member] | Off-balance sheet credit risks [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 568,143 | 540,607 |
Allowance for off balance sheet credit instruments | 580 | 550 |
Total off balance sheet credit instruments, net of allowance | 567,563 | 540,057 |
Stage 1 [member] | Off-balance sheet credit risks [member] | Retail exposures [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 261,329 | 246,575 |
Stage 1 [member] | Off-balance sheet credit risks [member] | Retail exposures [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 52,244 | 51,961 |
Stage 1 [member] | Off-balance sheet credit risks [member] | Retail exposures [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 13,073 | 12,298 |
Stage 1 [member] | Off-balance sheet credit risks [member] | Retail exposures [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 1,754 | 1,765 |
Stage 1 [member] | Off-balance sheet credit risks [member] | Non retail exposures [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 176,875 | 167,993 |
Stage 1 [member] | Off-balance sheet credit risks [member] | Non retail exposures [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 62,865 | 60,002 |
Stage 1 [member] | Off-balance sheet credit risks [member] | Non retail exposures [member] | Watch and classified [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 3 | 13 |
Stage 1 [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 224,155 | 222,509 |
Allowance for loan losses | 27 | 24 |
Loans, net of allowance | 224,128 | 222,485 |
Stage 1 [member] | Residential mortgages [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 174,308 | 168,690 |
Stage 1 [member] | Residential mortgages [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 42,707 | 47,821 |
Stage 1 [member] | Residential mortgages [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 6,156 | 5,106 |
Stage 1 [member] | Residential mortgages [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 984 | 892 |
Stage 1 [member] | Credit card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 33,580 | 32,796 |
Allowance for loan losses | 400 | 379 |
Loans, net of allowance | 33,180 | 32,417 |
Stage 1 [member] | Credit card [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 7,033 | 7,234 |
Stage 1 [member] | Credit card [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 9,987 | 9,780 |
Stage 1 [member] | Credit card [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 11,791 | 11,347 |
Stage 1 [member] | Credit card [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 4,769 | 4,435 |
Stage 1 [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 236,942 | 227,758 |
Allowance for loan losses | 643 | 651 |
Loans, net of allowance | 236,299 | 227,107 |
Stage 1 [member] | Business and government [member] | Investment grade or low/normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 119,732 | 118,414 |
Stage 1 [member] | Business and government [member] | Non investment grade or medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 116,478 | 108,678 |
Stage 1 [member] | Business and government [member] | Watch and classified or high risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 732 | 666 |
Stage 2 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans excluding acquired credit-impaired loans | 19,421 | 18,204 |
Allowance for loan losses | 1,297 | 1,217 |
Loans, net of allowance | 18,124 | 16,987 |
Total loans | 19,421 | 18,204 |
Allowance for loan losses | 1,297 | 1,217 |
Loans, net of allowance | 18,124 | 16,987 |
Stage 2 [member] | Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 5,453 | 5,622 |
Allowance for loan losses | 357 | 349 |
Loans, net of allowance | 5,096 | 5,273 |
Stage 2 [member] | Consumer instalment and other personal [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 995 | 983 |
Stage 2 [member] | Consumer instalment and other personal [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 1,035 | 1,190 |
Stage 2 [member] | Consumer instalment and other personal [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 1,020 | 1,063 |
Stage 2 [member] | Consumer instalment and other personal [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 2,403 | 2,386 |
Stage 2 [member] | Off-balance sheet credit risks [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 7,416 | 9,393 |
Allowance for off balance sheet credit instruments | 525 | 479 |
Total off balance sheet credit instruments, net of allowance | 6,891 | 8,914 |
Stage 2 [member] | Off-balance sheet credit risks [member] | Retail exposures [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 829 | 2,576 |
Stage 2 [member] | Off-balance sheet credit risks [member] | Retail exposures [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 607 | 1,129 |
Stage 2 [member] | Off-balance sheet credit risks [member] | Retail exposures [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 368 | 469 |
Stage 2 [member] | Off-balance sheet credit risks [member] | Retail exposures [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 895 | 638 |
Stage 2 [member] | Off-balance sheet credit risks [member] | Non retail exposures [member] | Investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 323 | |
Stage 2 [member] | Off-balance sheet credit risks [member] | Non retail exposures [member] | Non investment grade [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 2,652 | 2,309 |
Stage 2 [member] | Off-balance sheet credit risks [member] | Non retail exposures [member] | Watch and classified [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 2,065 | 1,949 |
Stage 2 [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 2,172 | 1,739 |
Allowance for loan losses | 32 | 34 |
Loans, net of allowance | 2,140 | 1,705 |
Stage 2 [member] | Residential mortgages [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 55 | 32 |
Stage 2 [member] | Residential mortgages [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 240 | 176 |
Stage 2 [member] | Residential mortgages [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 484 | 267 |
Stage 2 [member] | Residential mortgages [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 1,393 | 1,264 |
Stage 2 [member] | Credit card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 1,968 | 1,768 |
Allowance for loan losses | 309 | 283 |
Loans, net of allowance | 1,659 | 1,485 |
Stage 2 [member] | Credit card [member] | Low risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 15 | 11 |
Stage 2 [member] | Credit card [member] | Normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 82 | 66 |
Stage 2 [member] | Credit card [member] | Medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 305 | 246 |
Stage 2 [member] | Credit card [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 1,566 | 1,445 |
Stage 2 [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 9,828 | 9,075 |
Allowance for loan losses | 599 | 551 |
Loans, net of allowance | 9,229 | 8,524 |
Stage 2 [member] | Business and government [member] | Investment grade or low/normal risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 47 | 57 |
Stage 2 [member] | Business and government [member] | Non investment grade or medium risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 5,186 | 5,272 |
Stage 2 [member] | Business and government [member] | Watch and classified or high risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 4,595 | 3,746 |
Stage 3 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans excluding acquired credit-impaired loans | 3,296 | 3,154 |
Allowance for loan losses | 774 | 686 |
Loans, net of allowance | 2,522 | 2,468 |
Acquired credit-impaired loans | 382 | 453 |
Allowance for loan losses | 16 | 18 |
Loans, net of allowance | 366 | 435 |
Total loans | 3,678 | 3,607 |
Allowance for loan losses | 790 | 704 |
Loans, net of allowance | 2,888 | 2,903 |
Stage 3 [member] | Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 1,092 | 1,331 |
Allowance for loan losses | 179 | 178 |
Loans, net of allowance | 913 | 1,153 |
Stage 3 [member] | Consumer instalment and other personal [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 576 | 817 |
Stage 3 [member] | Consumer instalment and other personal [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 516 | 514 |
Stage 3 [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 719 | 709 |
Allowance for loan losses | 47 | 47 |
Loans, net of allowance | 672 | 662 |
Stage 3 [member] | Residential mortgages [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 304 | 317 |
Stage 3 [member] | Residential mortgages [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 415 | 392 |
Stage 3 [member] | Credit card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 456 | 454 |
Allowance for loan losses | 382 | 341 |
Loans, net of allowance | 74 | 113 |
Stage 3 [member] | Credit card [member] | High risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 334 | 333 |
Stage 3 [member] | Credit card [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 122 | 121 |
Stage 3 [member] | Business and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 1,029 | 660 |
Allowance for loan losses | 166 | 120 |
Loans, net of allowance | 863 | 540 |
Stage 3 [member] | Business and government [member] | Default [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 925 | 563 |
Stage 3 [member] | Business and government [member] | Watch and classified or high risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | $ 104 | $ 97 |
Loans, Impaired Loans, and Al_4
Loans, Impaired Loans, and Allowance For Credit Losses - Summary of Gross Carrying Amounts of Loans and Credit Risk Exposures on Loan Commitments and Financial Guarantee Contracts by Internal Risk Ratings (Parenthetical) (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | $ 685,900 | $ 669,954 |
Financial assets at fair value through other comprehensive income | 125,109 | 130,600 |
Customers' liability under acceptances | 16,189 | 17,267 |
Business and government and Residential Mortgage [member] | Insured [member] | Mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 91,000 | 95,000 |
Business and government and Residential Mortgage [member] | Impaired loans [member] | With no allowance for loan losses [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 138 | 124 |
Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 174,669 | 172,033 |
Consumer instalment and other personal [member] | Canadian Government Insured [member] | Real estate secured personal lending [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total loans | 14,000 | 14,000 |
Loans [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value through other comprehensive income | 2,000 | 3,000 |
Off-balance sheet credit risks [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 575,559 | 550,000 |
Retail exposures [member] | Off-balance sheet credit risks [member] | Personal lines of credit and credit card lines cancellable and bank's discretion [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 307,000 | 302,000 |
Non retail exposures [member] | Off-balance sheet credit risks [member] | Undrawn component of uncommitted credit and liquidity commitments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Off balance sheet credit instruments | 39,000 | $ 37,000 |
Business and government and Residential Mortgage [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Trading loans at fair value | 11,000 | |
Non-trading loans at fair value | $ 1,000 |
Loans, Impaired Loans, and Al_5
Loans, Impaired Loans, and Allowance for Credit Losses - Summary of Allowances for Loan Losses (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at end of period | $ 3,778 | $ 3,549 | $ 3,778 | $ 3,549 |
Stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at end of period | 1,691 | 1,567 | 1,691 | 1,567 |
Stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at end of period | 1,297 | 1,250 | 1,297 | 1,250 |
Stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at end of period | 774 | 708 | 774 | 708 |
Acquired credit-impaired loans [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at end of period | 16 | 24 | 16 | 24 |
Residential mortgages [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 107 | 91 | 110 | 107 |
Net remeasurement due to transfers | (2) | (3) | (4) | |
New originations or purchases | 2 | 2 | 5 | 6 |
Net repayments | (1) | (1) | (6) | |
Derecognition of financial assets (excluding disposals and write-offs) | (5) | (2) | (11) | (3) |
Changes to risk, parameters, and models | 12 | 10 | 23 | 8 |
Write-offs | (6) | (7) | (13) | (14) |
Recoveries | 1 | 2 | ||
Foreign exchange and other adjustments | 3 | (1) | ||
Balance at end of period | 110 | 95 | 110 | 95 |
Residential mortgages [member] | Stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 25 | 23 | 24 | 24 |
Net remeasurement due to transfers | (2) | (3) | (6) | (7) |
New originations or purchases | 2 | 2 | 5 | 6 |
Net repayments | (1) | |||
Derecognition of financial assets (excluding disposals and write-offs) | (1) | (1) | (1) | |
Changes to risk, parameters, and models | (1) | (2) | (9) | (7) |
Balance at end of period | 27 | 23 | 27 | 23 |
Residential mortgages [member] | Stage 1 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 4 | 5 | 17 | 11 |
Residential mortgages [member] | Stage 1 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (1) | (1) | (2) | (2) |
Residential mortgages [member] | Stage 1 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (1) | |||
Residential mortgages [member] | Stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 30 | 22 | 34 | 26 |
Net remeasurement due to transfers | 2 | 1 | 3 | 3 |
Net repayments | (1) | (1) | ||
Derecognition of financial assets (excluding disposals and write-offs) | (1) | (2) | (1) | |
Changes to risk, parameters, and models | 4 | 5 | 12 | 9 |
Foreign exchange and other adjustments | 1 | (1) | ||
Balance at end of period | 32 | 24 | 32 | 24 |
Residential mortgages [member] | Stage 2 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (4) | (5) | (16) | (11) |
Residential mortgages [member] | Stage 2 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 3 | 2 | 6 | 4 |
Residential mortgages [member] | Stage 2 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (2) | (2) | (4) | (4) |
Residential mortgages [member] | Stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 48 | 39 | 47 | 45 |
Derecognition of financial assets (excluding disposals and write-offs) | (4) | (1) | (8) | (1) |
Changes to risk, parameters, and models | 9 | 7 | 21 | 8 |
Write-offs | (6) | (7) | (13) | (14) |
Recoveries | 1 | 2 | ||
Foreign exchange and other adjustments | 1 | (1) | ||
Balance at end of period | 47 | 41 | 47 | 41 |
Residential mortgages [member] | Stage 3 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (1) | |||
Residential mortgages [member] | Stage 3 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (2) | (1) | (4) | (2) |
Residential mortgages [member] | Stage 3 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 2 | 2 | 5 | 4 |
Residential mortgages [member] | Acquired credit-impaired loans [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance at beginning of period | 4 | 7 | 5 | 12 |
Net repayments | (1) | (4) | ||
Changes to risk, parameters, and models | (1) | (2) | ||
Foreign exchange and other adjustments | 1 | 1 | ||
Balance at end of period | 4 | 7 | 4 | 7 |
Consumer instalment and other personal [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 1,194 | 1,100 | 1,171 | 1,055 |
Net remeasurement due to transfers | 6 | 15 | 14 | |
New originations or purchases | 73 | 72 | 139 | 142 |
Net repayments | (33) | (27) | (64) | (35) |
Derecognition of financial assets (excluding disposals and write-offs) | (62) | (60) | (123) | (121) |
Changes to risk, parameters, and models | 250 | 222 | 537 | 472 |
Write-offs | (280) | (263) | (586) | (528) |
Recoveries | 68 | 62 | 128 | 131 |
Foreign exchange and other adjustments | 13 | 22 | 12 | (2) |
Balance, including off-balance sheet instruments, at end of period | 1,229 | 1,128 | 1,229 | 1,128 |
Less: Allowance for off-balance sheet instruments | 70 | 71 | 70 | 71 |
Balance at end of period | 1,159 | 1,057 | 1,159 | 1,057 |
Consumer instalment and other personal [member] | Stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 598 | 535 | 599 | 529 |
Net remeasurement due to transfers | (34) | (31) | (68) | (59) |
New originations or purchases | 73 | 72 | 139 | 142 |
Net repayments | (22) | (13) | (43) | (13) |
Derecognition of financial assets (excluding disposals and write-offs) | (18) | (29) | (38) | (54) |
Changes to risk, parameters, and models | (7) | (14) | (48) | (46) |
Foreign exchange and other adjustments | 5 | 11 | 5 | |
Balance, including off-balance sheet instruments, at end of period | 647 | 572 | 647 | 572 |
Less: Allowance for off-balance sheet instruments | 26 | 25 | 26 | 25 |
Balance at end of period | 621 | 547 | 621 | 547 |
Consumer instalment and other personal [member] | Stage 1 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 84 | 77 | 167 | 146 |
Consumer instalment and other personal [member] | Stage 1 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (28) | (27) | (57) | (60) |
Consumer instalment and other personal [member] | Stage 1 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (4) | (9) | (9) | (13) |
Consumer instalment and other personal [member] | Stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 413 | 381 | 392 | 355 |
Net remeasurement due to transfers | 38 | 29 | 78 | 68 |
Net repayments | (8) | (7) | (15) | (13) |
Derecognition of financial assets (excluding disposals and write-offs) | (26) | (20) | (52) | (47) |
Changes to risk, parameters, and models | 74 | 70 | 180 | 166 |
Foreign exchange and other adjustments | 5 | 7 | 4 | (1) |
Balance, including off-balance sheet instruments, at end of period | 401 | 382 | 401 | 382 |
Less: Allowance for off-balance sheet instruments | 44 | 46 | 44 | 46 |
Balance at end of period | 357 | 336 | 357 | 336 |
Consumer instalment and other personal [member] | Stage 2 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (80) | (73) | (158) | (138) |
Consumer instalment and other personal [member] | Stage 2 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 39 | 38 | 78 | 80 |
Consumer instalment and other personal [member] | Stage 2 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (54) | (43) | (106) | (88) |
Consumer instalment and other personal [member] | Stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 181 | 179 | 178 | 166 |
Net remeasurement due to transfers | 2 | 2 | 5 | 5 |
Net repayments | (3) | (6) | (6) | (6) |
Derecognition of financial assets (excluding disposals and write-offs) | (18) | (11) | (33) | (20) |
Changes to risk, parameters, and models | 183 | 167 | 405 | 351 |
Write-offs | (280) | (263) | (586) | (528) |
Recoveries | 68 | 61 | 128 | 130 |
Foreign exchange and other adjustments | 3 | 4 | 3 | (1) |
Balance, including off-balance sheet instruments, at end of period | 179 | 170 | 179 | 170 |
Balance at end of period | 179 | 170 | 179 | 170 |
Consumer instalment and other personal [member] | Stage 3 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (4) | (4) | (9) | (8) |
Consumer instalment and other personal [member] | Stage 3 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (11) | (11) | (21) | (20) |
Consumer instalment and other personal [member] | Stage 3 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 58 | 52 | 115 | 101 |
Consumer instalment and other personal [member] | Acquired credit-impaired loans [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 2 | 5 | 2 | 5 |
Net repayments | (1) | (3) | ||
Changes to risk, parameters, and models | (1) | 1 | ||
Recoveries | 1 | 1 | ||
Balance, including off-balance sheet instruments, at end of period | 2 | 4 | 2 | 4 |
Balance at end of period | 2 | 4 | 2 | 4 |
Credit card [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 1,889 | 1,663 | 1,740 | 1,605 |
Net remeasurement due to transfers | 29 | 17 | 66 | 61 |
New originations or purchases | 35 | 45 | 65 | 112 |
Net repayments | 3 | 18 | 9 | 63 |
Derecognition of financial assets (excluding disposals and write-offs) | (191) | (175) | (296) | (250) |
Changes to risk, parameters, and models | 465 | 406 | 995 | 749 |
Disposals | (10) | (18) | ||
Write-offs | (443) | (385) | (861) | (757) |
Recoveries | 78 | 68 | 149 | 129 |
Foreign exchange and other adjustments | 24 | 47 | 22 | |
Balance, including off-balance sheet instruments, at end of period | 1,889 | 1,694 | 1,889 | 1,694 |
Less: Allowance for off-balance sheet instruments | 798 | 657 | 798 | 657 |
Balance at end of period | 1,091 | 1,037 | 1,091 | 1,037 |
Credit card [member] | Stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 865 | 737 | 819 | 763 |
Net remeasurement due to transfers | (55) | (46) | (111) | (91) |
New originations or purchases | 35 | 45 | 65 | 112 |
Net repayments | (1) | 13 | 38 | 84 |
Derecognition of financial assets (excluding disposals and write-offs) | (27) | (31) | (47) | (57) |
Changes to risk, parameters, and models | (50) | (52) | (130) | (173) |
Disposals | (4) | (8) | ||
Foreign exchange and other adjustments | 12 | 19 | 10 | (3) |
Balance, including off-balance sheet instruments, at end of period | 880 | 764 | 880 | 764 |
Less: Allowance for off-balance sheet instruments | 480 | 393 | 480 | 393 |
Balance at end of period | 400 | 371 | 400 | 371 |
Credit card [member] | Stage 1 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 164 | 130 | 363 | 254 |
Credit card [member] | Stage 1 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (55) | (39) | (111) | (93) |
Credit card [member] | Stage 1 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (8) | (8) | (16) | (24) |
Credit card [member] | Stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 635 | 585 | 580 | 521 |
Net remeasurement due to transfers | 75 | 54 | 154 | 113 |
Net repayments | (1) | (12) | 1 | (4) |
Derecognition of financial assets (excluding disposals and write-offs) | (33) | (27) | (54) | (57) |
Changes to risk, parameters, and models | 176 | 150 | 409 | 343 |
Disposals | (4) | (7) | ||
Foreign exchange and other adjustments | 7 | 15 | 6 | 3 |
Balance, including off-balance sheet instruments, at end of period | 627 | 582 | 627 | 582 |
Less: Allowance for off-balance sheet instruments | 318 | 264 | 318 | 264 |
Balance at end of period | 309 | 318 | 309 | 318 |
Credit card [member] | Stage 2 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (155) | (120) | (296) | (234) |
Credit card [member] | Stage 2 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 72 | 54 | 143 | 126 |
Credit card [member] | Stage 2 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (149) | (113) | (316) | (222) |
Credit card [member] | Stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 389 | 341 | 341 | 321 |
Net remeasurement due to transfers | 9 | 9 | 23 | 39 |
Net repayments | 5 | 17 | (30) | (17) |
Derecognition of financial assets (excluding disposals and write-offs) | (131) | (117) | (195) | (136) |
Changes to risk, parameters, and models | 339 | 308 | 716 | 579 |
Disposals | (2) | (3) | ||
Write-offs | (443) | (385) | (861) | (757) |
Recoveries | 78 | 68 | 149 | 129 |
Foreign exchange and other adjustments | 5 | 13 | 6 | |
Balance, including off-balance sheet instruments, at end of period | 382 | 348 | 382 | 348 |
Balance at end of period | 382 | 348 | 382 | 348 |
Credit card [member] | Stage 3 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (9) | (10) | (67) | (20) |
Credit card [member] | Stage 3 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (17) | (15) | (32) | (33) |
Credit card [member] | Stage 3 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 157 | 121 | 332 | 246 |
Businesses and government [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 1,608 | 1,458 | 1,557 | 1,525 |
Net remeasurement due to transfers | 14 | 7 | 22 | 17 |
New originations or purchases | 104 | 119 | 213 | 205 |
Net repayments | (18) | (18) | (27) | (40) |
Derecognition of financial assets (excluding disposals and write-offs) | (172) | (215) | (388) | (403) |
Changes to risk, parameters, and models | 123 | 124 | 309 | 244 |
Disposals | (5) | |||
Write-offs | (40) | (41) | (75) | (74) |
Recoveries | 13 | 17 | 24 | 35 |
Foreign exchange and other adjustments | 23 | 46 | 20 | (7) |
Balance, including off-balance sheet instruments, at end of period | 1,655 | 1,497 | 1,655 | 1,497 |
Less: Allowance for off-balance sheet instruments | 237 | 137 | 237 | 137 |
Balance at end of period | 1,418 | 1,360 | 1,418 | 1,360 |
Businesses and government [member] | Stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 725 | 663 | 736 | 706 |
Net remeasurement due to transfers | (14) | (11) | (27) | (18) |
New originations or purchases | 104 | 119 | 213 | 205 |
Net repayments | (5) | (5) | 2 | (6) |
Derecognition of financial assets (excluding disposals and write-offs) | (74) | (102) | (168) | (194) |
Changes to risk, parameters, and models | (31) | 9 | (64) | (3) |
Foreign exchange and other adjustments | 11 | 23 | 11 | (4) |
Balance, including off-balance sheet instruments, at end of period | 717 | 696 | 717 | 696 |
Less: Allowance for off-balance sheet instruments | 74 | 70 | 74 | 70 |
Balance at end of period | 643 | 626 | 643 | 626 |
Businesses and government [member] | Stage 1 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 41 | 38 | 85 | 66 |
Businesses and government [member] | Stage 1 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (38) | (36) | (68) | (52) |
Businesses and government [member] | Stage 1 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (2) | (2) | (3) | (4) |
Businesses and government [member] | Stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 711 | 628 | 690 | 627 |
Net remeasurement due to transfers | 27 | 17 | 47 | 32 |
Net repayments | (10) | (12) | (22) | (22) |
Derecognition of financial assets (excluding disposals and write-offs) | (73) | (95) | (183) | (184) |
Changes to risk, parameters, and models | 127 | 95 | 280 | 226 |
Foreign exchange and other adjustments | 9 | 18 | 8 | (2) |
Balance, including off-balance sheet instruments, at end of period | 762 | 639 | 762 | 639 |
Less: Allowance for off-balance sheet instruments | 163 | 67 | 163 | 67 |
Balance at end of period | 599 | 572 | 599 | 572 |
Businesses and government [member] | Stage 2 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (40) | (37) | (82) | (64) |
Businesses and government [member] | Stage 2 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 40 | 38 | 72 | 55 |
Businesses and government [member] | Stage 2 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (29) | (13) | (48) | (29) |
Businesses and government [member] | Stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 162 | 153 | 120 | 174 |
Net remeasurement due to transfers | 1 | 1 | 2 | 3 |
Net repayments | (4) | (2) | (8) | (11) |
Derecognition of financial assets (excluding disposals and write-offs) | (25) | (17) | (37) | (24) |
Changes to risk, parameters, and models | 31 | 23 | 101 | 26 |
Disposals | (5) | |||
Write-offs | (40) | (41) | (75) | (73) |
Recoveries | 11 | 16 | 19 | 32 |
Foreign exchange and other adjustments | 2 | 4 | (1) | |
Balance, including off-balance sheet instruments, at end of period | 166 | 149 | 166 | 149 |
Balance at end of period | 166 | 149 | 166 | 149 |
Businesses and government [member] | Stage 3 [member] | Transfer to stage 1 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (1) | (1) | (3) | (2) |
Businesses and government [member] | Stage 3 [member] | Transfer to stage 2 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | (2) | (2) | (4) | (3) |
Businesses and government [member] | Stage 3 [member] | Transfer to stage 3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Transfer to Stage | 31 | 15 | 51 | 33 |
Businesses and government [member] | Acquired credit-impaired loans [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Balance, including off-balance sheet instruments, at beginning of period | 10 | 14 | 11 | 18 |
Net repayments | 1 | 1 | 1 | (1) |
Derecognition of financial assets (excluding disposals and write-offs) | (1) | (1) | ||
Changes to risk, parameters, and models | (4) | (3) | (8) | (5) |
Write-offs | (1) | |||
Recoveries | 2 | 1 | 5 | 3 |
Foreign exchange and other adjustments | 1 | 1 | 1 | |
Balance, including off-balance sheet instruments, at end of period | 10 | 13 | 10 | 13 |
Balance at end of period | $ 10 | $ 13 | $ 10 | $ 13 |
Loans, Impaired Loans, and Al_6
Loans, Impaired Loans, and Allowance for Credit Losses - Additional Information (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract] | ||
Foreclosed assets held for sale | $ 87 | $ 81 |
Loans, Impaired Loans, and Al_7
Loans, Impaired Loans, and Allowance for Credit Losses - Summary of Loans Past Due but Not Impaired (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | $ 667,393 | $ 649,942 |
Financial assets past due but not impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 12,712 | 12,712 |
Financial assets past due but not impaired [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 2,079 | 1,930 |
Financial assets past due but not impaired [member] | Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 6,965 | 7,040 |
Financial assets past due but not impaired [member] | Credit card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 1,803 | 1,956 |
Financial assets past due but not impaired [member] | Businesses and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 1,865 | 1,786 |
1-30 days [member] | Financial assets past due but not impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 10,261 | 10,176 |
1-30 days [member] | Financial assets past due but not impaired [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 1,620 | 1,471 |
1-30 days [member] | Financial assets past due but not impaired [member] | Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 5,972 | 5,988 |
1-30 days [member] | Financial assets past due but not impaired [member] | Credit card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 1,291 | 1,403 |
1-30 days [member] | Financial assets past due but not impaired [member] | Businesses and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 1,378 | 1,314 |
31-60 days [member] | Financial assets past due but not impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 1,805 | 1,953 |
31-60 days [member] | Financial assets past due but not impaired [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 342 | 358 |
31-60 days [member] | Financial assets past due but not impaired [member] | Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 738 | 811 |
31-60 days [member] | Financial assets past due but not impaired [member] | Credit card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 304 | 340 |
31-60 days [member] | Financial assets past due but not impaired [member] | Businesses and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 421 | 444 |
61 - 89 days [member] | Financial assets past due but not impaired [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 646 | 583 |
61 - 89 days [member] | Financial assets past due but not impaired [member] | Residential mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 117 | 101 |
61 - 89 days [member] | Financial assets past due but not impaired [member] | Consumer instalment and other personal [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 255 | 241 |
61 - 89 days [member] | Financial assets past due but not impaired [member] | Credit card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | 208 | 213 |
61 - 89 days [member] | Financial assets past due but not impaired [member] | Businesses and government [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Gross Loans | $ 66 | $ 28 |
Investment in Associates and _3
Investment in Associates and Joint Ventures - Additional Information (Detail) - TD Ameritrade [member] $ / shares in Units, shares in Millions, $ in Billions, $ in Billions | 6 Months Ended | 12 Months Ended | ||
Apr. 30, 2019CAD ($)shares | Oct. 31, 2018CAD ($)shares | Apr. 30, 2019USD ($)$ / shares | Oct. 31, 2018USD ($)$ / shares | |
Disclosure of investments in associates and joint ventures [line items] | ||||
Equity investment percentage | 42.32% | 41.61% | ||
Fair value of outstanding shares | $ 16 | $ 16 | $ 12 | $ 12 |
Closing price of shares | $ / shares | $ 52.58 | $ 51.72 | ||
Stock repurchased | shares | 10.2 | 5.5 | ||
Ownership percentage threshold after stock repurchases that requires the bank to use reasonable effort to sell or dispose excess stock | 45.00% | |||
Maximum ownership percentage of the bank that is allowed to result after stock repurchases | 47.00% |
Investment in Associates and _4
Investment in Associates and Joint Ventures - Summary of Condensed Consolidated Balance Sheets (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Mar. 31, 2019 | Oct. 31, 2018 | Sep. 30, 2018 | Apr. 30, 2018 |
ASSETS | |||||
Other assets, net | $ 17,238 | $ 15,596 | |||
Total assets | 1,356,588 | 1,334,903 | $ 1,283,836 | ||
LIABILITIES | |||||
Other liabilities | 20,259 | 19,174 | |||
Total liabilities | 1,271,690 | 1,254,863 | |||
Stockholders' equity | 84,898 | 80,040 | $ 76,662 | ||
Total liabilities and stockholders' equity | $ 1,356,588 | $ 1,334,903 | |||
TD Ameritrade [member] | |||||
ASSETS | |||||
Receivables from brokers, dealers, and clearing organizations | $ 2,178 | $ 1,809 | |||
Receivables from clients, net | 27,836 | 29,773 | |||
Other assets, net | 21,804 | 17,811 | |||
Total assets | 51,818 | 49,393 | |||
LIABILITIES | |||||
Payable to brokers, dealers, and clearing organizations | 3,313 | 3,923 | |||
Payable to clients | 31,135 | 30,126 | |||
Other liabilities | 6,220 | 4,809 | |||
Total liabilities | 40,668 | 38,858 | |||
Stockholders' equity | 11,150 | 10,535 | |||
Total liabilities and stockholders' equity | $ 51,818 | $ 49,393 |
Investment in Associates and _5
Investment in Associates and Joint Ventures - Summary of Condensed Consolidated Statements of Income (Detail) - CAD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Apr. 30, 2019 | Mar. 31, 2019 | Apr. 30, 2018 | Mar. 31, 2018 | Apr. 30, 2019 | Mar. 31, 2019 | Apr. 30, 2018 | Mar. 31, 2018 | ||
Revenues | |||||||||
Net interest revenue | [1] | $ 10,273 | $ 8,609 | $ 20,817 | $ 16,917 | ||||
Fee-based and other revenue | 37 | 126 | 105 | 180 | |||||
Total revenue | 10,228 | 9,482 | 20,226 | 18,857 | |||||
Operating expenses | |||||||||
Employee compensation and benefits | 2,799 | 2,497 | 5,651 | 5,057 | |||||
Provision for income taxes | 773 | 746 | 1,276 | 1,786 | |||||
Net income | [2] | $ 3,172 | $ 2,916 | $ 5,582 | $ 5,269 | ||||
Earnings per share - basic (Canadian dollars) | $ 1.70 | $ 1.54 | $ 2.97 | $ 2.78 | |||||
Earnings per share - diluted (Canadian dollars) | $ 1.70 | $ 1.54 | $ 2.97 | $ 2.78 | |||||
TD Ameritrade [member] | |||||||||
Revenues | |||||||||
Net interest revenue | $ 481 | $ 390 | $ 978 | $ 741 | |||||
Fee-based and other revenue | 1,447 | 1,400 | 2,953 | 2,647 | |||||
Total revenue | 1,928 | 1,790 | 3,931 | 3,388 | |||||
Operating expenses | |||||||||
Employee compensation and benefits | 452 | 583 | 871 | 1,111 | |||||
Other | 539 | 706 | 1,071 | 1,349 | |||||
Total operating expenses | 991 | 1,289 | 1,942 | 2,460 | |||||
Other expense (income) | 49 | 30 | 73 | 72 | |||||
Pre-tax income | 888 | 471 | 1,916 | 856 | |||||
Provision for income taxes | 225 | 128 | 455 | 136 | |||||
Net income | $ 663 | $ 343 | $ 1,461 | $ 720 | |||||
Earnings per share - basic (Canadian dollars) | $ 1.18 | $ 0.60 | $ 2.60 | $ 1.27 | |||||
Earnings per share - diluted (Canadian dollars) | $ 1.18 | $ 0.60 | $ 2.59 | $ 1.26 | |||||
[1] | Includes $8,554 million and $17,239 million, respectively, for the three and six months ended April 30, 2019 (three and six months ended April 30, 2018 - $7,310 million and $14,411 million, respectively) which have been calculated based on the effective interest rate method. Refer to Note 20. | ||||||||
[2] | The amounts are net of income tax provisions (recoveries) presented in the following table. |
Investment in Associates and _6
Investment in Associates and Joint Ventures - Summary of Condensed Consolidated Statements of Income (Parenthetical) (Detail) - 6 months ended Apr. 30, 2018 $ in Millions, $ in Millions | CAD ($) | USD ($) |
TD Ameritrade [member] | U.S. Tax Act [member] | ||
Disclosure of general information about financial statements [line items] | ||
Deferred income tax benefit | $ 41 | $ 32 |
Significant Acquisitions and _2
Significant Acquisitions and Disposals - Agreement for Air Canada Credit Card Loyalty Program - Additional Information (Detail) - Agreement for Air Canada Credit Card Loyalty Program [member] $ in Millions | Jan. 10, 2019CAD ($) |
Disclosure of agreement for credit card loyalty program [line items] | |
Cash transferred, pending completion of transaction | $ 622 |
Expense recognized, pending completion of transaction | 547 |
Expense recognized, pending completion of transaction | 446 |
Intangible assets amortized, pending completion of transaction | 75 |
Prepayment plus applicable sales tax future purchase of loyalty points over tens year period, pending completion of transaction | $ 308 |
Significant Acquisitions and _3
Significant Acquisitions and Disposals - Additional Information (Detail) - CAD ($) shares in Millions, $ in Millions | Apr. 30, 2019 | Nov. 01, 2018 | Oct. 31, 2018 | Oct. 31, 2017 |
Disclosure of detailed information about business combination [line items] | ||||
Goodwill | $ 17,232 | $ 16,536 | $ 16,156 | |
Greystone Capital Management Inc. [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Acquisition of outstanding equity percentage | 100.00% | |||
Acquisition, net purchase consideration | $ 817 | |||
Purchase consideration paid in cash | 475 | |||
Deferred purchase consideration in common shares held in escrow | 167 | |||
Purchase consideration paid in cash | 169 | |||
Liabilities acquired | 55 | |||
Purchase consideration allocated to customer relationship | 140 | |||
Goodwill | 433 | |||
Deferred tax liability | 37 | |||
Greystone Capital Management Inc. [member] | Common shares [member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Purchase consideration paid in shares, value | $ 342 | |||
Common shares issued | 4.7 |
Goodwill - Summary of Goodwill
Goodwill - Summary of Goodwill by Segment (Detail) - CAD ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Apr. 30, 2019 | Oct. 31, 2018 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | $ 16,536 | $ 16,156 |
Additions | 433 | 82 |
Foreign currency translation adjustments and other | 263 | 298 |
Ending balance | 17,232 | 16,536 |
Canadian Retail [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 2,403 | 2,303 |
Additions | 433 | 82 |
Foreign currency translation adjustments and other | 15 | 18 |
Ending balance | 2,851 | 2,403 |
U.S. Retail [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 13,973 | 13,693 |
Foreign currency translation adjustments and other | 248 | 280 |
Ending balance | 14,221 | 13,973 |
Wholesale Banking [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Beginning balance | 160 | 160 |
Ending balance | $ 160 | $ 160 |
Goodwill - Summary of Goodwil_2
Goodwill - Summary of Goodwill by Segment (Parenthetical) (Detail) - CAD ($) | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | Oct. 31, 2018 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |||||
Impairment losses | $ 0 | $ 0 | $ 0 | $ 0 | |
Accumulated impairment | $ 0 | $ 0 | $ 0 |
Other Assets - Schedule of Othe
Other Assets - Schedule of Other Assets (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of other assets [abstract] | ||
Accounts receivable and other items | $ 9,310 | $ 8,938 |
Accrued interest | 2,446 | 2,343 |
Current income tax receivable | 2,503 | 1,614 |
Defined benefit asset | 10 | 113 |
Insurance-related assets, excluding investments | 1,561 | 1,638 |
Prepaid expenses | 1,408 | 950 |
Total | $ 17,238 | $ 15,596 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - CAD ($) | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure Of Deposits [line items] | ||
Aggregate amount of term deposits in denominations of $100,000 or more | $ 297,000,000,000 | $ 293,000,000,000 |
Deposits designated at fair value through profit or loss [member] | ||
Disclosure Of Deposits [line items] | ||
Notional amounts | $ 177,000,000 |
Deposits - Summary of Deposit L
Deposits - Summary of Deposit Liabilities (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of deposits from customers [line items] | ||
Demand | $ 101,666 | |
Notice | 552,844 | |
Term | 332,573 | |
Total | 987,083 | $ 966,143 |
Personal [member] | ||
Disclosure of deposits from customers [line items] | ||
Demand | 13,714 | |
Notice | 419,240 | |
Term | 56,729 | |
Total | 489,683 | 477,644 |
Bank Deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Demand | 9,163 | |
Notice | 155 | |
Term | 10,351 | |
Total | 19,669 | 16,712 |
Business and government [member] | ||
Disclosure of deposits from customers [line items] | ||
Demand | 78,789 | |
Notice | 133,449 | |
Term | 153,753 | |
Total | 365,991 | 357,083 |
Trading deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Term | 53,974 | |
Total | 53,974 | 114,704 |
Deposits designated at fair value through profit or loss [member] | ||
Disclosure of deposits from customers [line items] | ||
Term | 57,766 | |
Total | 57,766 | |
Canada [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 562,513 | |
Canada [member] | Personal [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 225,858 | |
Canada [member] | Bank Deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 12,811 | |
Canada [member] | Business and government [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 266,014 | |
Canada [member] | Trading deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 26,119 | |
Canada [member] | Deposits designated at fair value through profit or loss [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 31,711 | |
United States [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 398,634 | |
United States [member] | Personal [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 263,795 | |
United States [member] | Bank Deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 74 | |
United States [member] | Business and government [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 96,320 | |
United States [member] | Trading deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 16,270 | |
United States [member] | Deposits designated at fair value through profit or loss [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 22,175 | |
International [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 25,936 | |
International [member] | Personal [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 30 | |
International [member] | Bank Deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 6,784 | |
International [member] | Business and government [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 3,657 | |
International [member] | Trading deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 11,585 | |
International [member] | Deposits designated at fair value through profit or loss [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 3,880 | |
Domestic Offices [member] | Non interest bearing deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 40,562 | 42,402 |
Domestic Offices [member] | Interest bearing deposits 1 [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 521,951 | 505,295 |
Foreign Offices [member] | Non interest bearing deposits [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 53,524 | 54,488 |
Foreign Offices [member] | Interest bearing deposits 1 [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | 370,365 | 362,890 |
US federal funds deposited [member] | Interest bearing deposits 1 [member] | ||
Disclosure of deposits from customers [line items] | ||
Total | $ 681 | $ 1,068 |
Deposits - Summary of Deposit_2
Deposits - Summary of Deposit Liabilities (Parenthetical) (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of deposits from customers [line items] | ||
Deposits subject to bank recapitalization Bail-in | $ 6,586 | $ 53 |
Deposits | 365,991 | 357,083 |
Financial liabilities designated at fair value through profit or loss | 57,783 | 16 |
Total deposits | 987,083 | 966,143 |
Business and government [member] | ||
Disclosure of deposits from customers [line items] | ||
Total deposits | 365,991 | 357,083 |
Loan commitments and financial guarantees [member] | ||
Disclosure of deposits from customers [line items] | ||
Financial liabilities designated at fair value through profit or loss | 17 | 16 |
U.S. Dollar [member] | ||
Disclosure of deposits from customers [line items] | ||
Total deposits | 559,000 | 548,000 |
Other Currency [member] | ||
Disclosure of deposits from customers [line items] | ||
Total deposits | 56,000 | 55,000 |
Covered Bondholders [member] | Business and government [member] | ||
Disclosure of deposits from customers [line items] | ||
Deposits | 39,000 | 36,000 |
TD Capital Trust IV [member] | Business and government [member] | ||
Disclosure of deposits from customers [line items] | ||
Deposits | $ 2,000 | $ 2,000 |
Other Liabilities - Summary of
Other Liabilities - Summary of Other Liabilities (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of financial liabilities [abstract] | ||
Accounts payable, accrued expenses, and other items | $ 4,842 | $ 4,958 |
Accrued interest | 1,373 | 1,283 |
Accrued salaries and employee benefits | 2,538 | 3,344 |
Cheques and other items in transit | 964 | 454 |
Current income tax payable | 149 | 84 |
Deferred tax liabilities | 192 | 175 |
Defined benefit liability | 2,230 | 1,747 |
Liabilities related to structured entities | 6,449 | 5,627 |
Provisions | 1,522 | 1,502 |
Total | $ 20,259 | $ 19,174 |
Equity - Summary of Classes of
Equity - Summary of Classes of Share Capital - Common Shares (Detail) - CAD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | Oct. 31, 2018 | |
Disclosure of classes of share capital [line items] | |||||
Balance at beginning of period | $ 80,040 | ||||
Balance at end of period | $ 84,898 | $ 76,662 | $ 84,898 | $ 76,662 | $ 80,040 |
Issued capital [member] | Common shares [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Beginning balance, Number of shares | 1,830.4 | 1,842.5 | 1,842.5 | ||
Proceeds from shares issued on exercise of stock options, Number of shares | 1 | 2.9 | |||
Shares issued as a result of dividend reinvestment plan, Number of shares | 2.7 | 5 | |||
Shares issued in connection with acquisitions | 5 | ||||
Purchase of shares for cancellation and other, Number of Shares | (10) | (20) | |||
Ending balance, Number of shares | 1,829.1 | 1,829.1 | 1,830.4 | ||
Balance at beginning of period | $ 21,661 | 21,094 | $ 21,221 | $ 20,931 | $ 20,931 |
Proceeds from shares issued on exercise of stock options, Amount | 24 | 24 | 52 | 96 | 152 |
Shares issued as a result of dividend reinvestment plan | 197 | 366 | |||
Shares issued in connection with acquisitions | 366 | ||||
Purchase of shares for cancellation and other, Amount | (65) | (7) | (118) | (7) | (228) |
Balance at end of period | $ 21,718 | $ 21,203 | $ 21,718 | $ 21,203 | $ 21,221 |
Equity - Summary of Classes o_2
Equity - Summary of Classes of Share Capital - Preferred Shares (Detail) - CAD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | Oct. 31, 2018 | |
Disclosure of classes of share capital [line items] | ||||
Balance at beginning of period | $ 80,040 | |||
Balance at end of period | $ 76,662 | $ 84,898 | $ 76,662 | $ 80,040 |
Preferred shares [member] | Issued capital [member] | ||||
Disclosure of classes of share capital [line items] | ||||
Beginning balance, Number of shares | 200 | 190 | 190 | |
Shares issued, Number of shares | 14 | 30 | ||
Shares redeemed, Number of shares | (20) | |||
Ending balance, Number of shares | 214 | 200 | ||
Balance at beginning of period | 4,750 | $ 5,000 | $ 4,750 | $ 4,750 |
Shares issued, Amount | 350 | 350 | 350 | 750 |
Shares redeemed, Amount | (500) | |||
Balance at end of period | $ 5,100 | $ 5,350 | $ 5,100 | $ 5,000 |
Equity - Summary of Classes o_3
Equity - Summary of Classes of Share Capital - Treasury Shares (Detail) - CAD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | Oct. 31, 2018 | |
Disclosure of classes of share capital [line items] | |||||
Balance at beginning of period | $ 80,040 | ||||
Balance at end of period | $ 84,898 | $ 76,662 | $ 84,898 | $ 76,662 | $ 80,040 |
Treasury shares [member] | Common shares [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Beginning balance, Number of shares | 2.1 | 2.9 | 2.9 | ||
Purchase of shares, Number of shares | 71.5 | 110.6 | |||
Sale of shares, Number of shares | (72.9) | (111.4) | |||
Ending balance, Number of shares | 0.7 | 0.7 | 2.1 | ||
Balance at beginning of period | $ (139) | (92) | $ (144) | $ (176) | $ (176) |
Purchase of shares, Amount | (2,855) | (1,691) | (5,198) | (3,590) | (8,295) |
Sale of shares, Amount | 2,945 | 1,675 | 5,293 | 3,658 | 8,327 |
Balance at end of period | $ (49) | (108) | $ (49) | $ (108) | $ (144) |
Treasury shares [member] | Preferred shares [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Beginning balance, Number of shares | 0.3 | 0.3 | 0.3 | ||
Purchase of shares, Number of shares | 3 | 5.2 | |||
Sale of shares, Number of shares | (3) | (5.2) | |||
Ending balance, Number of shares | 0.3 | 0.3 | 0.3 | ||
Balance at beginning of period | $ (3) | (9) | $ (7) | $ (7) | $ (7) |
Purchase of shares, Amount | (36) | (48) | (69) | (79) | (129) |
Sale of shares, Amount | 33 | 52 | 70 | 81 | 129 |
Balance at end of period | $ (6) | $ (5) | $ (6) | $ (5) | $ (7) |
Equity - Summary of Classes o_4
Equity - Summary of Classes of Share Capital - Common Shares (Parenthetical) (Detail) - Greystone Capital Management Inc. [member] - Common shares [member] shares in Millions, $ in Millions | Nov. 01, 2018CAD ($)shares |
Disclosure of classes of share capital [line items] | |
Common shares issued | shares | 4.7 |
Purchase consideration paid in shares, value | $ | $ 342 |
Stock based compensation [member] | |
Disclosure of classes of share capital [line items] | |
Common shares issued | shares | 0.3 |
Share-based compensation replacement number of shares value | $ | $ 24 |
Equity - Summary of Classes o_5
Equity - Summary of Classes of Share Capital - Preferred Shares (Parenthetical) (Detail) - Preferred shares [member] - Non-viability Contingent Capital Series 22 [member] | 6 Months Ended |
Apr. 30, 2019$ / shares | |
Disclosure of classes of share capital [line items] | |
Share price per share | $ 25 |
Annual yield | 5.20% |
Reset spread | 3.27% |
Next redemption/conversion date | Apr. 30, 2024 |
Description of redeemable/convertible shares | Holders of these shares will have the right to convert their shares into non-cumulative NVCC Floating Rate Preferred Shares, Series 23, subject to certain conditions, on April 30, 2024, and on April 30 every five years thereafter. Holders of the Series 23 Shares will be entitled to receive quarterly floating rate dividends, if declared, at a rate equal to the three-month Government of Canada Treasury Bill yield plus 3.27%. The Series 22 Shares are redeemable by the Bank, subject to regulatory consent, at $25 per share on April 30, 2024, and on April 30 every five years thereafter. |
Redemption price per share | $ 25 |
Equity - Additional Information
Equity - Additional Information (Detail) - CAD ($) $ / shares in Units, $ in Millions | May 22, 2019 | Apr. 12, 2019 | Dec. 31, 2018 | Apr. 30, 2019 | Apr. 30, 2019 | Oct. 31, 2018 |
Normal Course Issuer Bid [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Maximum number of shares approved for repurchase | 20,000,000 | |||||
Normal Course Issuer Bid [member] | Share repurchase program April 2018 to April 2019 [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Common shares repurchase programs | 30,000,000 | 5,500,000 | 10,000,000 | 20,000,000 | ||
Repurchased average price per share | $ 74.29 | $ 75.30 | $ 72.75 | $ 75.07 | ||
Repurchases amount | $ 2,200 | $ 414 | $ 727 | $ 1,500 | ||
TD Capital Trust III Securities - Series 2008 [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Redemption of non-controlling interests in subsidiaries | $ 1,000 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - Stock Option Awards [member] pure in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019CAD ($) | Apr. 30, 2018CAD ($) | Apr. 30, 2019CAD ($) | Apr. 30, 2018CAD ($) | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||||
Compensation expense | $ 3,000,000 | $ 3,400,000 | $ 6,300,000 | $ 6,500,000 |
Granted | 0 | 0 | 2.2 | 1.9 |
Weighted average fair value of options granted | $ 0 | $ 0 | $ 5.64 | $ 6.28 |
Share-based Compensation - Sche
Share-based Compensation - Schedule of Assumptions Used for Estimating the Fair Value of Options (Detail) - Options [member] | 6 Months Ended | |
Apr. 30, 2019CAD ($)yr | Apr. 30, 2018CAD ($)yr | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Risk-free interest rate | 2.03% | 1.71% |
Expected option life, years | yr | 6.3 | 6.3 |
Expected volatility | 12.64% | 13.91% |
Expected dividend yield | 3.48% | 3.50% |
Exercise price/share price | $ | $ 69.39 | $ 72.64 |
Employee Benefits - Summary of
Employee Benefits - Summary of Employee Benefit Plans' Expenses (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Principal pension plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Service cost - benefits earned | $ 82 | $ 101 | $ 163 | $ 203 |
Net interest cost on net defined benefit liability | (3) | 2 | (6) | 4 |
Defined benefit administrative expenses | 2 | 3 | 5 | 5 |
Total expense | 81 | 106 | 162 | 212 |
Principal non-pension post-retirement benefit plan [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Service cost - benefits earned | 3 | 4 | 7 | 8 |
Net interest cost on net defined benefit liability | 5 | 5 | 10 | 9 |
Total expense | 8 | 9 | 17 | 17 |
Other pension and retirement plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Service cost - benefits earned | 3 | 2 | 5 | 5 |
Net interest cost on net defined benefit liability | 8 | 8 | 16 | 15 |
Past service cost (credit) | 2 | 2 | (3) | |
Defined benefit administrative expenses | 1 | 1 | 3 | 2 |
Total expense | $ 14 | $ 11 | $ 26 | $ 19 |
Employee Benefits - Summary o_2
Employee Benefits - Summary of Bank Contribution to Principal Pension and Non Pension Post Retirement Benefit Plans and Significant Other Pension and Retirement Plans (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | $ 109 | $ 82 | $ 205 | $ 213 |
Principal pension plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | 95 | 71 | 178 | 190 |
Principal non-pension post-retirement benefit plan [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | 4 | 4 | 8 | 7 |
Other pension and retirement plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | $ 10 | $ 7 | $ 19 | $ 16 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | $ 109 | $ 82 | $ 205 | $ 213 |
Principal pension plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | 95 | 71 | 178 | 190 |
Principal non-pension post-retirement benefit plan [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | 4 | 4 | 8 | 7 |
Other pension and retirement plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | $ 10 | $ 7 | 19 | $ 16 |
Expected additional contribution for remainder of year [member] | Principal pension plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | 175 | |||
Expected additional contribution for remainder of year [member] | Principal non-pension post-retirement benefit plan [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | 8 | |||
Expected additional contribution for remainder of year [member] | Other pension and retirement plans [member] | ||||
Disclosure of defined benefit plans [line items] | ||||
Contributions to plan | $ 24 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) $ in Millions | 6 Months Ended |
Apr. 30, 2019CAD ($) | |
Canada Revenue Agency Reassessment [member] | Two thousand eleven to two thousand thirteen taxation years [member] | |
Disclosure of Income Tax [Line items] | |
Additional Income Tax and Interest reassessed by CRA | $ 553 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share (Detail) - CAD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Basic earnings per share | ||||
Net income attributable to common shareholders | $ 3,110 | $ 2,846 | $ 5,442 | $ 5,129 |
Weighted-average number of common shares outstanding (millions) | 1,826.6 | 1,843.6 | 1,829.9 | 1,842.6 |
Basic earnings per share (Canadian dollars) | $ 1.70 | $ 1.54 | $ 2.97 | $ 2.78 |
Diluted earnings per share | ||||
Net income attributable to common shareholders | $ 3,110 | $ 2,846 | $ 5,442 | $ 5,129 |
Net income available to common shareholders including impact of dilutive securities | $ 3,110 | $ 2,846 | $ 5,442 | $ 5,129 |
Weighted-average number of common shares outstanding (millions) | 1,826.6 | 1,843.6 | 1,829.9 | 1,842.6 |
Stock options potentially exercisable (millions)1 | 3.4 | 3.9 | 3.3 | 4.2 |
Weighted-average number of common shares outstanding - diluted (millions) | 1,830 | 1,847.5 | 1,833.2 | 1,846.8 |
Diluted earnings per share (Canadian dollars)1 | $ 1.70 | $ 1.54 | $ 2.97 | $ 2.78 |
Earnings Per Share - Summary _2
Earnings Per Share - Summary of Earnings Per Share (Parenthetical) (Detail) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | |
Earnings per share [abstract] | ||||
Average outstanding options excluded from calculation of diluted earnings per share | 0 | 0 | 0 | 0 |
Contingent Liabilities - Additi
Contingent Liabilities - Additional Information (Detail) - Litigation [member] - CAD ($) | Apr. 30, 2019 | Oct. 31, 2018 |
Bottom of range [member] | ||
Disclosure of contingent liabilities [line items] | ||
Bank's reasonable possible losses | $ 0 | $ 0 |
Top of range [member] | ||
Disclosure of contingent liabilities [line items] | ||
Bank's reasonable possible losses | $ 602,000,000 | $ 763,000,000 |
Segmented Information - Summary
Segmented Information - Summary of Results by Business Segment (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||||||
Apr. 30, 2019 | Mar. 31, 2019 | Apr. 30, 2018 | Mar. 31, 2018 | Apr. 30, 2019 | Mar. 31, 2019 | Apr. 30, 2018 | Mar. 31, 2018 | Oct. 31, 2018 | Sep. 30, 2018 | ||
Disclosure of operating segments [line items] | |||||||||||
Net interest income (loss) | $ 5,872 | $ 5,398 | $ 11,732 | $ 10,828 | |||||||
Non-interest income (loss) | 4,356 | 4,084 | 8,494 | 8,029 | |||||||
Total revenue | 10,228 | 9,482 | 20,226 | 18,857 | |||||||
Provision for (recovery of) credit losses | 633 | 556 | 1,483 | 1,249 | |||||||
Insurance claims and related expenses | 668 | 558 | 1,370 | 1,133 | |||||||
Total non-interest expenses | 5,248 | 4,837 | 11,103 | 9,698 | |||||||
Income before income taxes and equity in net income of an investment in TD Ameritrade | 3,679 | 3,531 | 6,270 | 6,777 | |||||||
Provision for (recovery of) income taxes | 773 | 746 | 1,276 | 1,786 | |||||||
Net income (loss) | [1] | 3,172 | 2,916 | 5,582 | 5,269 | ||||||
Total assets | 1,356,588 | 1,283,836 | 1,356,588 | 1,283,836 | $ 1,334,903 | ||||||
TD Ameritrade [member] | |||||||||||
Disclosure of operating segments [line items] | |||||||||||
Total revenue | $ 1,928 | $ 1,790 | $ 3,931 | $ 3,388 | |||||||
Provision for (recovery of) income taxes | 225 | 128 | 455 | 136 | |||||||
Equity in net income of an investment in TD Ameritrade | 266 | 131 | 588 | 278 | |||||||
Net income (loss) | 663 | $ 343 | 1,461 | $ 720 | |||||||
Total assets | $ 51,818 | $ 51,818 | $ 49,393 | ||||||||
Canadian Retail [member] | |||||||||||
Disclosure of operating segments [line items] | |||||||||||
Net interest income (loss) | 3,010 | 2,781 | 6,054 | 5,606 | |||||||
Non-interest income (loss) | 2,949 | 2,731 | 5,893 | 5,456 | |||||||
Total revenue | 5,959 | 5,512 | 11,947 | 11,062 | |||||||
Provision for (recovery of) credit losses | 280 | 219 | 590 | 489 | |||||||
Insurance claims and related expenses | 668 | 558 | 1,370 | 1,133 | |||||||
Total non-interest expenses | 2,481 | 2,232 | 5,565 | 4,543 | |||||||
Income before income taxes and equity in net income of an investment in TD Ameritrade | 2,530 | 2,503 | 4,422 | 4,897 | |||||||
Provision for (recovery of) income taxes | 681 | 670 | 1,194 | 1,307 | |||||||
Net income (loss) | 1,849 | 1,833 | 3,228 | 3,590 | |||||||
Total assets | 439,485 | 415,518 | 439,485 | 415,518 | |||||||
U.S. Retail [member] | |||||||||||
Disclosure of operating segments [line items] | |||||||||||
Net interest income (loss) | 2,231 | 1,977 | 4,478 | 3,917 | |||||||
Non-interest income (loss) | 677 | 654 | 1,378 | 1,357 | |||||||
Total revenue | 2,908 | 2,631 | 5,856 | 5,274 | |||||||
Provision for (recovery of) credit losses | 226 | 204 | 532 | 451 | |||||||
Total non-interest expenses | 1,527 | 1,488 | 3,138 | 2,935 | |||||||
Income before income taxes and equity in net income of an investment in TD Ameritrade | 1,155 | 939 | 2,186 | 1,888 | |||||||
Provision for (recovery of) income taxes | 150 | 94 | 252 | 197 | |||||||
Net income (loss) | 1,263 | 979 | 2,503 | 1,931 | |||||||
Total assets | 426,143 | 405,115 | 426,143 | 405,115 | |||||||
U.S. Retail [member] | TD Ameritrade [member] | |||||||||||
Disclosure of operating segments [line items] | |||||||||||
Equity in net income of an investment in TD Ameritrade | 258 | 134 | 569 | 240 | |||||||
Wholesale Banking [member] | |||||||||||
Disclosure of operating segments [line items] | |||||||||||
Net interest income (loss) | 262 | 272 | 435 | 601 | |||||||
Non-interest income (loss) | 625 | 615 | 1,034 | 1,176 | |||||||
Total revenue | 887 | 887 | 1,469 | 1,777 | |||||||
Provision for (recovery of) credit losses | (5) | 16 | 2 | 9 | |||||||
Total non-interest expenses | 597 | 516 | 1,199 | 1,042 | |||||||
Income before income taxes and equity in net income of an investment in TD Ameritrade | 295 | 355 | 268 | 726 | |||||||
Provision for (recovery of) income taxes | 74 | 88 | 64 | 181 | |||||||
Net income (loss) | 221 | 267 | 204 | 545 | |||||||
Total assets | 424,360 | 403,775 | 424,360 | 403,775 | |||||||
Corporate [member] | |||||||||||
Disclosure of operating segments [line items] | |||||||||||
Net interest income (loss) | 369 | 368 | 765 | 704 | |||||||
Non-interest income (loss) | 105 | 84 | 189 | 40 | |||||||
Total revenue | 474 | 452 | 954 | 744 | |||||||
Provision for (recovery of) credit losses | 132 | 117 | 359 | 300 | |||||||
Total non-interest expenses | 643 | 601 | 1,201 | 1,178 | |||||||
Income before income taxes and equity in net income of an investment in TD Ameritrade | (301) | (266) | (606) | (734) | |||||||
Provision for (recovery of) income taxes | (132) | (106) | (234) | 101 | |||||||
Net income (loss) | (161) | (163) | (353) | (797) | |||||||
Total assets | 66,600 | 59,428 | 66,600 | 59,428 | |||||||
Corporate [member] | TD Ameritrade [member] | |||||||||||
Disclosure of operating segments [line items] | |||||||||||
Equity in net income of an investment in TD Ameritrade | $ 8 | $ (3) | $ 19 | $ 38 | |||||||
[1] | The amounts are net of income tax provisions (recoveries) presented in the following table. |
Interest Income and Expense - S
Interest Income and Expense - Summary of Interest Income and Expense by Basis of Accounting Classification (Detail) - CAD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2019 | Apr. 30, 2018 | Apr. 30, 2019 | Apr. 30, 2018 | ||
Disclosure of Interest Income Expense [line items] | |||||
Interest income | [1] | $ 10,273 | $ 8,609 | $ 20,817 | $ 16,917 |
Interest expense | 4,401 | 3,211 | 9,085 | 6,089 | |
Financial assets amortized cost [member] | |||||
Disclosure of Interest Income Expense [line items] | |||||
Interest income | 7,289 | 6,214 | 14,669 | 12,274 | |
Interest expense | 2,823 | 2,157 | 5,751 | 4,107 | |
Financial assets at fair value through other comprehensive income [member] | |||||
Disclosure of Interest Income Expense [line items] | |||||
Interest income | 1,265 | 1,096 | 2,570 | 2,137 | |
Financial instruments measure at amortized cost and FVOCI [member] | |||||
Disclosure of Interest Income Expense [line items] | |||||
Interest income | 8,554 | 7,310 | 17,239 | 14,411 | |
Interest expense | 2,823 | 2,157 | 5,751 | 4,107 | |
Financial instruments measured or designated at fair value through profit or loss [member] | Equities designated at fair value through other comprehensive income [member] | |||||
Disclosure of Interest Income Expense [line items] | |||||
Interest income | 1,719 | 1,299 | 3,578 | 2,506 | |
Interest expense | $ 1,578 | $ 1,054 | $ 3,334 | $ 1,982 | |
[1] | Includes $8,554 million and $17,239 million, respectively, for the three and six months ended April 30, 2019 (three and six months ended April 30, 2018 - $7,310 million and $14,411 million, respectively) which have been calculated based on the effective interest rate method. Refer to Note 20. |
Regulatory Capital - Additional
Regulatory Capital - Additional Information (Detail) - Basel III [member] | Apr. 30, 2019 | Apr. 30, 2018 | Jan. 01, 2016 |
Disclosure of regulatory capital [line items] | |||
Common equity capital surcharge | 1.00% | 1.00% | 1.00% |
Target common equity tier 1 capital ratio | 8.00% | 8.00% | 8.00% |
Target tier 1 capital ratio | 9.50% | 9.50% | 9.50% |
Target total capital ratio | 11.50% | 11.50% | 11.50% |
Domestic Stability Buffer | 1.75% | ||
Target Common Equity tier 1 Capital Ratio including Domestic Stability Buffer | 9.75% |
Regulatory Capital - Summary of
Regulatory Capital - Summary of Regulatory Capital Position (Detail) - CAD ($) $ in Millions | Apr. 30, 2019 | Oct. 31, 2018 |
Capital | ||
Common Equity Tier 1 Capital | $ 54,269 | $ 52,389 |
Tier 1 Capital | 61,008 | 59,735 |
Total Capital | 71,620 | 70,434 |
Risk-weighted assets used in the calculation of capital ratios | ||
Common Equity Tier 1 Capital | 452,267 | 435,632 |
Tier 1 Capital | 452,267 | 435,780 |
Total Capital | $ 452,267 | $ 435,927 |
Capital and leverage ratios | ||
Common Equity Tier 1 Capital ratio | 12.00% | 12.00% |
Tier 1 Capital ratio | 13.50% | 13.70% |
Total Capital ratio | 15.80% | 16.20% |
Leverage ratio | 4.20% | 4.20% |
Regulatory Capital - Summary _2
Regulatory Capital - Summary of Regulatory Capital Position (Parenthetical) (Detail) - Credit valuation adjustment (CVA) capital charge [Member] | Apr. 30, 2019 | Oct. 31, 2018 |
Disclosure of regulatory capital and capital ratios [line items] | ||
Scalars for inclusion in the common equity tier 1 risk-weighted assets | 100.00% | 80.00% |
Scalars for inclusion in the tier 1 risk-weighted assets | 100.00% | 83.00% |
Scalars for inclusion in the total Capital risk-weighted assets | 100.00% | 86.00% |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | May 22, 2019shares |
Normal Course Issuer Bid [member] | |
Disclosure of non-adjusting events after reporting period [line items] | |
Maximum number of shares approved for repurchase | 20,000,000 |