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Securities (Tables)
 9 Months Ended
Jul. 31, 2022
Text block [abstract]  
Summary of Securities
$ millions, as at   
2022
Jul. 31
      2021
Oct. 31		  
      Carrying amount  
Securities measured and designated at FVOCI
 
(1)

   
$
56,606
 
    $ 53,997  
Securities measured at amortized cost
 (
2
)
   
 
49,229
 
      35,159  
Securities mandatorily measured and designated at FVTPL
   
 
71,014
 
      72,245  
 
   
$
  176,849
 
    $     161,401  
(1)
Certain information has been reclassified to conform to the current period presentation.
(2)
There were no sales of securities measured at amortized cost during the quarter (October 31, 2021: a realized gain of less than $1 million).
Fair Value of Debt Securities Measured and Equity Securities Designated at FVOCI
Fair value of debt securities measured and equity securities designated at FVOCI
 
$ millions, as at
  
  
 
 
  
 
  
  
 
 
2022
Jul. 31
 
  
  
 
 
  
 
  
  
 
 
2021
Oct. 31
 
 
  
 
Amortized
cost
 
 
(1)
 
 
 

 
Gross
unrealized
gains
 
 
 
  
 

 
Gross
unrealized
losses
 
 
 
 
 
Fair
value
 
  
 
Amortized
cost
 
 
(1)
 
 
 

 
Gross
unrealized
gains
 
 
 
  
 

 
Gross
unrealized
losses
 
 
 
 
 
Fair
value
 
Securities issued or guaranteed by:
  
      
 
      
  
      
 
      
  
      
 
      
  
      
 
      
Canadian federal government
   
$
10,430
 
  
$
7
 
   
$
(23
 )   
$
10,414
 
    $ 8,310     $ 31        $        (1 )    $ 8,340  
Other Canadian governments
   
 
18,753
 
  
 
32
 
   
 
(66
 )   
 
18,719
 
      14,007       182        –       14,189  
U.S. Treasury and agencies
   
 
11,935
 
  
 
8
 
   
 
(317
 )   
 
11,626
 
      14,157       23        (53 )      14,127  
Other foreign governments
   
 
6,859
 
  
 
20
 
   
 
(24
 )   
 
6,855
 
      6,750       30        (5 )      6,775  
Mortgage-backed securities
   
 
1,214
 
  
 
2
 
   
 
(9
 )   
 
1,207
 
      1,516       29        –       1,545  
Asset-backed securities
   
 
638
 
  
 
–
 
   
 
(26
 )   
 
612
 
      354       –        (2 )      352  
Corporate debt
   
 
6,691
 
  
 
2
 
   
 
(46
 )   
 
6,647
 
      7,820       15        (2 )      7,833  
 
   
 
56,520
 
  
 
71
 
   
 
(511
 )   
 
56,080
 
      52,914       310        (63 )      53,161  
Corporate equity
(2)(3)

   
 
524
 
  
 
39
 
   
 
(37
 )   
 
526
 
      730       144        (38 )      836  
 
   
$
  57,044
 
  
$
  110
 
   
$
 (548
)
 
   
$
    56,606
 
    $     53,644     $     454        $    (101 )    $     53,997  
(1)
Net of allowance for credit losses for debt securities measured at FVOCI of $23 million (October 31, 2021: $19 million).
(2)
Includes restricted stock.
(3)
Certain information has been reclassified to conform to the current period presentation.
Summary of Allowance for Losses measured at FVOCI
Allowance for credit losses
The following table provides a reconciliation of the opening balance to the closing balance of the ECL allowance for debt securities measured at FVOCI:

 
 
 
 
  
Stage 1
 
 
Stage 2
 
 
Stage 3
 
 
 
  
 
 
$ millions, as at or for the three months ended
  
Collective provision
12-month ECL
performing
 
 
Collective provision
lifetime ECL
performing
 
 
Collective and
individual provision
lifetime ECL
credit-impaired
 
 
  
  
Total
 
2022
  
Debt securities measured at FVOCI
                                      
Jul. 31
  
Balance at beginning of period
   
$
4
 
  
$
18
 
  
$
–
 
       
$
22
 
   
Provision for (reversal of) credit losses 
(1)
   
 
–
 
  
 
1
 
  
 
–
 
       
 
1
 
   
Write-offs
   
 
–
 
  
 
–
 
  
 
–
 
       
 
–
 
   
Foreign exchange and other
   
 
–
 
  
 
–
 
  
 
–
 
       
 
–
 
   
Balance at end of period
   
$
4
 
  
$
19
 
  
$
–
 
       
$
23
 
2022
  
Debt securities measured at FVOCI
                                      
Apr. 30
  
Balance at beginning of period
    $ 4     $ 19     $     –          $ 23  
   
Provision for (reversal of) credit losses 
(1)
      –       (1 )      –            (1 ) 
   
Write-offs
      –       –       –            –  
   
Foreign exchange and other
      –       –       –            –  
   
Balance at end of period
    $ 4     $     18     $ –          $     22  
2021
  
Debt securities measured at FVOCI
                                      
Jul. 31
  
Balance at beginning of period
    $     14     $ 4     $ –          $ 18  
   
Provision for (reversal of) credit losses 
(1)
      2       –       –            2  
   
Write-offs
      –       –       –            –  
   
Foreign exchange and other
      1       –       –            1  
   
Balance at end of period
    $ 17     $ 4     $ –          $ 21  
           
$ millions, as at or for the nine months ended                                   
2022
  
Debt securities measured at FVOCI
                                      
Jul. 31
  
Balance at beginning of period
   
$
4
 
  
$
15
 
  
$
        –
 
       
$
19
 
   
Provision for (reversal of) credit losses 
(1)
   
 
–
 
  
 
3
 
  
 
–
 
       
 
3
 
   
Write-offs
   
 
–
 
  
 
–
 
  
 
–
 
       
 
–
 
   
Foreign exchange and other
   
 
–
 
  
 
1
 
  
 
–
 
       
 
1
 
   
Balance at end of period
   
$
4
 
  
$
19
 
  
$
–
 
       
$
23
 
2021
  
Debt securities measured at FVOCI
                                      
Jul. 31
  
Balance at beginning of period
    $ 18     $ 4     $ –          $ 22  
   
Provision for (reversal of) credit losses 
(1)
      (1 )      –       –            (1 ) 
   
Write-offs
      –       –       –            –  
   
Foreign exchange and other
      –       –       –            –  
   
Balance at end of period
    $ 17     $ 4     $ –          $ 21  
(1)
Included in gains (losses) from debt securities measured at FVOCI and amortized cost, net on our interim consolidated statement of income.