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Offsetting financial assets and liabilities (Tables)
 12 Months Ended
Oct. 31, 2022
Text Block [Abstract]  
Schedule of Financial Assets and Financial Liabilities
The following table identifies the amounts that have been offset on the consolidated balance sheet in accordance with the requirements of IAS 32 “Financial Instruments: Presentation”, and also those amounts that are subject to enforceable netting agreements but do not qualify for offsetting on the consolidated balance sheet either because we do not have a currently enforceable legal right to set-off the recognized amounts, or because we do not intend to settle on a net basis or to realize the asset and settle the liability
simultaneously.
 
 
 
 
 
Amounts subject to enforceable netting agreements
 
 
 
 
 
 
 
 
 
 
Gross
amounts of
recognized
financial
assets
 
 
 
 
 
 
 
Gross
amounts
offset on the
consolidated
balance sheet
 
 
 
 
 
(1)
 
 
 
Net
amounts
 
 
 
 
Related amounts not set-off on
the consolidated balance sheet
 
 
 
 
Amounts not
subject to
enforceable
netting
agreements
 
 
 
 
 
(4)
 
 
 
Net amounts
presented on
the consolidated
balance sheet
 
 
 
 
$ millions, as at October 31
 
 
Financial
instruments
 
 
(2)
 
 
 
Collateral
received
 
 
(3)
 
 
 
Net
amounts
 
 
2022
 
Financial assets
 
 
 
 
 
 
 
 
   
Derivatives
  
$
39,731
 
  
$
(4
)
  
$
39,727
 
  
$
(25,999
)
  
$
(5,974
)
  
$
7,754
 
  
$
3,308
 
  
$
43,035
 
   
Cash collateral on securities borrowed
  
 
15,326
 
  
 
–
 
  
 
15,326
 
  
 
–
 
  
 
(14,893
)
  
 
433
 
  
 
–
 
  
 
15,326
 
   
Securities purchased under resale agreements
  
 
72,489
 
  
 
(3,276
)
  
 
69,213
 
  
 
–
 
  
 
(65,720
)
  
 
3,493
 
  
 
–
 
  
 
69,213
 
       
$
127,546
 
  
$
(3,280
)
  
$
124,266
 
  
$
(25,999
)
  
$
(86,587
)
  
$
11,680
 
  
$
3,308
 
  
$
127,574
 
   
Financial liabilities
              
 
              
 
      
 
                        
   
Derivatives
  
$
47,369
 
  
$
(4
)
  
$
47,365
 
  
$
(25,999
)
  
$
(12,910
)
  
$
8,456
 
  
$
4,975
 
  
$
52,340
 
   
Cash collateral on securities lent
  
 
4,853
 
  
 
–
 
  
 
4,853
 
  
 
–
 
  
 
(4,730
)
  
 
123
 
  
 
–
 
  
 
4,853
 
   
Obligations related to securities sold under repurchase agreements
  
 
80,447
 
  
 
(3,276
)
  
 
77,171
 
  
 
–
 
  
 
(73,605
)
  
 
3,566
 
  
 
–
 
  
 
77,171
 
       
$
132,669
 
  
$
(3,280
)
  
$
129,389
 
  
$
(25,999
)
  
$
(91,245
)
  
$
12,145
 
  
$
4,975
 
  
$
134,364
 
2021
  
Financial assets
                                                                
   
Derivatives
   $ 53,285     $   (22,668 )    $ 30,617     $   (16,585 )    $ (6,375 )    $   7,657     $   5,295     $ 35,912  
   
Cash collateral on securities borrowed
     12,368       –       12,368       –       (12,121 )      247       –       12,368  
   
Securities purchased under resale agreements
     71,777       (4,205 )      67,572       –       (66,423 )      1,149       –       67,572  
        $   137,430     $ (26,873 )    $   110,557     $ (16,585 )    $   (84,919 )    $ 9,053     $ 5,295     $   115,852  
   
Financial liabilities
                                                                
   
Derivatives
   $ 49,607     $ (22,668 )    $ 26,939     $ (16,585 )    $ (6,617 )    $ 3,737     $ 5,162     $ 32,101  
   
Cash collateral on securities lent
     2,463       –       2,463       –       (2,331 )      132       –       2,463  
   
Obligations related to securities sold under repurchase
agreements
     76,085       (4,205 )      71,880       –       (70,567 )      1,313       –       71,880  
        $ 128,155     $ (26,873 )    $ 101,282     $ (16,585 )    $ (79,515 )    $ 5,182     $ 5,162     $   106,444  
 
(1)
Comprises amounts related to financial instruments which qualify for offsetting. This amount excludes derivatives which are settled-to-market (STM) as STM derivatives are settled on a daily basis, resulting in derecognition, rather than offsetting, of the related amounts. Beginning October 2022, a majority of derivatives cleared through LCH was elected to be STM, consistent with derivatives cleared through CME. 
(2)
Comprises amounts subject to set-off under enforceable netting agreements, such as ISDA agreements, derivative exchange or clearing counterparty agreements, global master repurchase agreements, and global master securities lending agreements. Under such arrangements, all outstanding transactions governed by the relevant agreement can be offset if an event of default or other predetermined event occurs.
(3)
Collateral received and pledged amounts are reflected at fair value, but have been limited to the net balance sheet exposure so as not to include any over-collateralization.
(4)
Includes exchange-traded derivatives and derivatives which are
STM
.