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IFRS 7 Disclosure (Tables)
 12 Months Ended
Oct. 31, 2023
Text Block [Abstract]  
Summary of Risk Measurement
    
 
CIBC
 
   
 
S&P
 
   
 
Moody’s
 
Grade
   
 
rating
 
   
 
equivalent
 
   
 
equivalent
 
Investment grade
      00–47        AAA to BBB-        Aaa to Baa3  
Non-investment
grade
      51–67        BB+ to B-        Ba1 to B3  
Watch list
      70–80        CCC+ to C        Caa1 to Ca  
Default
      90        D        C  
Summary of PD Bands to Various Risk Levels

The following table maps the PD bands to various risk levels:
 
Risk level
   
 
PD bands
 
Exceptionally low
      0.01%–0.20%  
Very low
      0.21%–0.50%  
Low
      0.51%–2.00%  
Medium
      2.01%–10.00%  
High
      10.01%–99.99%  
Default
      100%  
Summary of Exposure to Credit Risk
$ millions, as at October 31
                
2023
                   2022  
    
IRB
approach
 
(1)
    
Standardized
approach
    
Total
     AIRB
approach		     Standardized
approach		     Total  
Business and government portfolios
                                                
Corporate
(2)
                                                
Drawn
 
$
139,744
 
  
$
48,032
 
  
$
187,776
 
   $ 151,361     $ 45,924     $ 197,285  
Undrawn commitments
  
 
49,460
 
  
 
9,388
 
  
 
58,848
 
     64,470       10,142       74,612  
Repo-style transactions
(3)
  
 
262,175
 
  
 
–
 
  
 
262,175
 
     185,680       –       185,680  
Other off-balance sheet
(3)
  
 
12,527
 
  
 
752
 
  
 
13,279
 
     14,181       831       15,012  
OTC derivatives
  
 
8,921
 
  
 
128
 
  
 
9,049
 
     13,094       98       13,192  
 
  
 
472,827
 
  
 
58,300
 
  
 
531,127
 
     428,786       56,995       485,781  
Sovereign
                                                
Drawn
 
 
166,226
 
  
 
31,376
 
  
 
197,602
 
     149,200       28,680       177,880  
Undrawn commitments
  
 
8,956
 
  
 
270
 
  
 
9,226
 
     8,560       –       8,560  
Repo-style transactions
(3)
  
 
31,203
 
  
 
–
 
  
 
31,203
 
     24,228       –       24,228  
Other off-balance sheet
(3)
  
 
1,538
 
  
 
181
 
  
 
1,719
 
     2,421       –       2,421  
OTC derivatives
  
 
2,444
 
  
 
–
 
  
 
2,444
 
     2,475       –       2,475  
 
  
 
210,367
 
  
 
31,827
 
  
 
242,194
 
     186,884       28,680       215,564  
Banks
                                                
Drawn
 
 
12,396
 
  
 
851
 
  
 
13,247
 
     14,151       1,548       15,699  
Undrawn commitments
  
 
407
 
  
 
3
 
  
 
410
 
     1,297       18       1,315  
Repo-style transactions
(3)
  
 
46,889
 
  
 
–
 
  
 
46,889
 
     46,155       –       46,155  
Other off-balance sheet
(3)
  
 
1,417
 
  
 
4
 
  
 
1,421
 
     74,748       –       74,748  
OTC derivatives
  
 
6,323
 
  
 
12
 
  
 
6,335
 
     6,287       12       6,299  
 
  
 
67,432
 
  
 
870
 
  
 
68,302
 
     142,638       1,578       144,216  
Gross business and government portfolios
  
 
750,626
 
  
 
90,997
 
  
 
841,623
 
     758,308       87,253       845,561  
Less: collateral held for repo-style transactions
(3)
  
 
325,118
 
  
 
–
 
  
 
325,118
 
     237,484       –       237,484  
Net business and government portfolios
  
 
425,508
 
  
 
90,997
 
  
 
516,505
 
     520,824       87,253       608,077  
Retail portfolios
                                                
Real estate secured personal lending
                                                
Drawn
  
 
285,019
 
  
 
5,742
 
  
 
290,761
 
     281,518       5,491       287,009  
Undrawn commitments
  
 
39,210
 
  
 
23
 
  
 
39,233
 
     38,038       –       38,038  
 
  
 
324,229
 
  
 
5,765
 
  
 
329,994
 
     319,556       5,491       325,047  
Qualifying revolving retail
(4)
                                                
Drawn
  
 
18,277
 
  
 
4,238
 
  
 
22,515
 
     18,034       –       18,034  
Undrawn commitments
  
 
61,231
 
  
 
3,740
 
  
 
64,971
 
     58,471       –       58,471  
Other
off-balance
sheet
  
 
385
 
  
 
116
 
  
 
501
 
     375       –       375  
 
  
 
79,893
 
  
 
8,094
 
  
 
87,987
 
     76,880       –       76,880  
Other retail
(4)
                                                
Drawn
  
 
14,423
 
  
 
1,032
 
  
 
15,455
 
     17,519       5,099       22,618  
Undrawn commitments
  
 
2,170
 
  
 
63
 
  
 
2,233
 
     3,308       28       3,336  
Other
off-balance
sheet
  
 
4
 
  
 
–
 
  
 
4
 
     45       121       166  
 
  
 
16,597
 
  
 
1,095
 
  
 
17,692
 
     20,872       5,248       26,120  
Small and medium enterprises (SME) retail
(4)
                                                
Drawn
  
 
3,066
 
  
 
–
 
  
 
3,066
 
     –       –       –  
Undrawn commitments
  
 
1,235
 
  
 
–
 
  
 
1,235
 
     –       –       –  
Other
off-balance
sheet
  
 
24
 
  
 
–
 
  
 
24
 
     –       –       –  
 
  
 
4,325
 
  
 
–
 
  
 
4,325
 
     –       –       –  
Total retail portfolios
  
 
425,044
 
  
 
14,954
 
  
 
439,998
 
     417,308       10,739       428,047  
Securitization exposures
(2)(5)
  
 
24,171
 
  
 
13,870
 
  
 
38,041
 
     15,333       3,257       18,590  
Gross credit exposure
(6)
  
 
    1,199,841
 
  
 
119,821
 
  
 
    1,319,662
 
         1,190,949       101,249           1,292,198  
Less: collateral held for repo-style transactions
(3)
  
 
325,118
 
  
 
–
 
  
 
325,118
 
     237,484       –       237,484  
Net credit exposure
(6)
  
$
874,723
 
  
$
    119,821
 
  
$
994,544
 
   $        953,465     $     101,249     $     1,054,714  
 
(1)
Beginning in the second quarter of 2023, the IRB approach includes both the AIRB approach and the FIRB approach.
 
 
(2)
Beginning in the first quarter of 2023, includes a change in methodology that resulted in certain exposures previously subject to AIRB, now being included under the standardized securitization approach.
 
 
(3)
Beginning in the second quarter of 2023, as part of the implementation of the Basel III reforms, certain exposures in which we act as a guarantor were prospectively reclassified from other
off-balance
sheet to repo-style transactions with the inclusion of the collateral held now included in collateral held for repo-style transactions.
 
 
(4)
2022 amounts reported in other retail include certain qualifying revolving retail and SME retail.
 
 
(5)
OSFI guidelines define a hierarchy of approaches for treating securitization exposures in our banking book. Depending on the underlying characteristics, exposures are eligible for either the SA or the IRB approach. The SEC-ERBA, which is inclusive of SEC-IAA, includes exposures that qualify for the IRB approach, as well as exposures under the SA.
 
  (6)
Excludes exposures arising from derivative and repo-style transactions which are cleared through qualified central counterparties (QCCPs) as well as credit risk exposures arising from other assets that are subject to the credit risk framework, including other balance sheet assets which are risk-weighted at 100%, significant investments in the capital of
non-financial
institutions which are risk-weighted at 1250%, settlement risk, and amounts below the thresholds for deduction which are
risk-weighted
at 250%.
Non-trading
equity exposures are also excluded and are subject to a range of risk-weightings dependent on the nature of the security starting in the second quarter of 2023. Risk-weighting for
non-trading
equity securities was at 100% prior to the second quarter of 2023.
 
Summary of Breakdown of Our Standardized Credit Risk Exposures by Risk-weight Category A detailed breakdown of our net credit risk exposures under the standardized approach by risk-weight category is provided below.
 
$ millions, as at October 31
  
Risk-weight category
    
2023
     2022  
    
0%
    
1–20%
    
21–50%
    
51–75%
    
76–100%
    
101–150%
    
>150%
    
Total
     Total  
Corporate
  
$
–
 
  
$
–
 
  
$
–
 
  
$
4,577
 
  
$
46,928
 
  
$
6,795
 
  
$
–
 
  
$
58,300
 
   $ 56,995  
Sovereign
  
 
26,715
 
  
 
3,545
 
  
 
378
 
  
 
–
 
  
 
1,083
 
  
 
106
 
  
 
–
 
  
 
31,827
 
     28,680  
Banks
 
 
–
 
  
 
766
 
  
 
66
 
  
 
–
 
  
 
15
 
  
 
23
 
  
 
–
 
  
 
870
 
     1,578  
Real estate secured personal lending
  
 
–
 
  
 
1,439
 
  
 
3,869
 
  
 
336
 
  
 
105
 
  
 
16
 
  
 
–
 
  
 
5,765
 
     5,491  
Other retail
  
 
–
 
  
 
5,282
 
  
 
–
 
  
 
3,489
 
  
 
346
 
  
 
72
 
  
 
–
 
  
 
9,189
 
     5,248  
 
  
$
    26,715
 
  
$
    11,032
 
  
$
    4,313
 
  
$
    8,402
 
  
$
    48,477
 
  
$
    7,012
 
  
$
    –
 
  
$
    105,951
 
   $     97,992  
 
  (1)
See the “Securitization exposures” section for securitization exposures that are subject to the standardized
approach, which are excluded from this table
.
 
  (2)
Beginning in the second quarter of 2023, the IRB approach includes both the AIRB approach and the FIRB approach.
 
Summary of Rating Profile of OTC Derivative Mark to Market (MTM) Receivables
Rating profile of OTC derivative
mark-to-market
(MTM) receivables
$ billions, as at October 31
           
2023
              2022  
     Exposure
(1)
  
Investment grade
   
$
8.04
 
   
 
89.6
 % 
    $ 11.18        79.1  % 
Non-investment
grade
   
 
0.92
 
   
 
10.3
 
      2.87        20.3  
Watch list
   
 
0.01
 
   
 
0.1
 
      0.09        0.6  
Default
   
 
–
 
   
 
–
 
      –        –  
Unrated
   
 
–
 
   
 
–
 
      –        –  
 
   
$
    8.97
 
   
 
100.0
 % 
    $     14.14        100.0  % 
 
  (1)
MTM of the OTC derivative contracts is after the impact of master netting agreements, but before any collateral.
 
Summary of Geographic Distribution of Business and Government Exposures Under the AIRB Approach
The following table provides a geographic distribution of our business and government exposures under the IRB
(3)
approach, net of collateral held for repo-style transactions.
 
$ millions, as at October 31, 2023
    Canada     U.S.     Europe     Other      Total  
Drawn
   
$
188,602
 
  
$
100,653
 
(4)
 
  
$
14,733
 
  
$
14,378
 
   
$
318,366
 
Undrawn commitments
   
 
39,658
 
  
 
13,408
 
  
 
3,815
 
  
 
1,942
 
   
 
58,823
 
Repo-style transactions
   
 
5,065
(5)
 
  
 
4,904
(5)
 
  
 
2,612
(5)
 
  
 
2,568
 
   
 
15,149
 
Other
off-balance
sheet
   
 
8,168
 
(5)
 
  
 
5,111
 
(5)
 
  
 
1,587
 
(5)
 
  
 
616
 
   
 
15,482
 
OTC derivatives
   
 
9,789
 
  
 
4,179
 
  
 
2,183
 
  
 
1,537
 
   
 
17,688
 
 
   
$
251,282
 
  
$
128,255
 
  
$
24,930
 
  
$
21,041
 
   
$
425,508
 
October 31, 2022
    $     341,917     $     125,602     $     29,227     $     24,078      $     520,824  
 
  (1)
Excludes securitization exposures, and exposures under the SA. Substantially all of our retail exposures under the AIRB approach are based in Canada.
 
  (2)
Classification by country is primarily based on domicile of debtor or customer.
 
  (3)
Beginning in the second quarter of 2023, the IRB approach includes both the AIRB approach and the FIRB approach.
 
  (4)
Beginning in the first quarter of 2023, excludes certain exposures previously subject to AIRB, now included under the standardized securitization approach pursuant to a change in methodology.
 
  (5)
Beginning in the second quarter of 2023, as part of the implementation of the Basel III reforms, certain exposures in which we act as a guarantor were prospectively reclassified from other
off-balance
sheet to repo-style transactions with the inclusion of the collateral held now included in collateral held for repo-style transactions.
 
Summary of Credit Quality of Risk-rated Portfolios Exposure
The following table presents the credit quality of our retail portfolios under the IRB
(1)
approach.
 

$ millions, as at October 31
                                 
2023
      2022  
    
EAD
               
Risk level   
Real estate secured
personal lending
     
Qualifying
revolving retail
     
Other
retail
    
SME
retail
    
Total
      Total  
Exceptionally low
   
$
246,607
 
   
$
51,322
 
   
$
2,691
 
   
$
537
 
 
$
301,157
 
    $ 294,074  
Very low
   
 
41,524
 
   
 
8,660
 
   
 
3,527
 
   
 
1,007
 
 
 
54,718
 
      55,713  
Low
   
 
28,743
 
   
 
11,533
 
   
 
7,057
 
   
 
2,106
 
 
 
49,439
 
      52,062  
Medium
   
 
6,102
 
   
 
6,935
 
   
 
2,231
 
   
 
308
 
 
 
15,576
 
      12,243  
High
   
 
759
 
   
 
1,376
 
   
 
1,022
 
   
 
328
 
 
 
3,485
 
      2,792  
Default
   
 
494
 
   
 
67
 
   
 
69
 
   
 
39
 
 
 
669
 
      424  
 
   
$
    324,229
 
   
$
    79,893
 
   
$
    16,597
 
   
$
    4,325
 
 
$
    425,044
 
    $     417,308  
 
  (1)
Beginning in the second quarter of 2023, the IRB approach includes both the AIRB approach and the FIRB approach.
 
Summary of Industry-wide Breakdown of Business and Government Exposure
The following table provides an industry-wide breakdown of our business and government exposures under the IRB
(2)
approach, net of collateral held for repo-style transactions.
 
         
Undrawn
    
Repo-style
    
Other off-
    
OTC
    
2023
     2022  
$ millions, as at October 31
  
Drawn
    
commitments
    
transactions 
(3)
    
balance sheet 
(3)
    
derivatives
    
Total
     Total  
Commercial mortgages
  
$
7,819
 
  
$
6
 
  
$
–
 
  
$
–
 
  
$
–
 
  
$
7,825
 
   $ 9,108  
Financial institutions
  
 
72,497
 
  
 
8,348
 
  
 
14,683
 
  
 
4,398
 
  
 
10,348
 
  
 
110,274
 
     215,049  
Retail and wholesale
  
 
9,489
 
  
 
3,763
 
  
 
–
 
  
 
449
 
  
 
170
 
  
 
13,871
 
     14,856  
Business services
  
 
8,778
 
  
 
2,810
 
  
 
2
 
  
 
810
 
  
 
185
 
  
 
12,585
 
     13,701  
Manufacturing – capital goods
  
 
3,714
 
  
 
1,877
 
  
 
–
 
  
 
269
 
  
 
179
 
  
 
6,039
 
     6,906  
Manufacturing – consumer goods
  
 
5,204
 
  
 
1,642
 
  
 
–
 
  
 
224
 
  
 
125
 
  
 
7,195
 
     7,682  
Real estate and construction
  
 
42,135
 
  
 
10,700
 
  
 
–
 
  
 
1,809
 
  
 
501
 
  
 
55,145
 
     51,900  
Agriculture
  
 
8,137
 
  
 
2,054
 
  
 
–
 
  
 
42
 
  
 
35
 
  
 
10,268
 
     10,252  
Oil and gas
  
 
3,312
 
  
 
3,571
 
  
 
–
 
  
 
612
 
  
 
1,990
 
  
 
9,485
 
     15,208  
Mining
  
 
1,748
 
  
 
2,017
 
  
 
–
 
  
 
833
 
  
 
265
 
  
 
4,863
 
     6,622  
Forest products
  
 
348
 
  
 
445
 
  
 
–
 
  
 
184
 
  
 
54
 
  
 
1,031
 
     1,353  
Hardware and software
  
 
3,801
 
  
 
1,908
 
  
 
–
 
  
 
70
 
  
 
86
 
  
 
5,865
 
     4,996  
Telecommunications and cable
  
 
2,448
 
  
 
689
 
  
 
–
 
  
 
255
 
  
 
297
 
  
 
3,689
 
     4,116  
Broadcasting, publishing and printing
  
 
372
 
  
 
85
 
  
 
–
 
  
 
8
 
  
 
6
 
  
 
471
 
     593  
Transportation
  
 
6,057
 
  
 
3,058
 
  
 
–
 
  
 
308
 
  
 
698
 
  
 
10,121
 
     10,393  
Utilities
  
 
18,019
 
  
 
8,293
 
  
 
–
 
  
 
4,288
 
  
 
735
 
  
 
31,335
 
     32,048  
Education, health, and social services
  
 
3,942
 
  
 
1,532
 
  
 
–
 
  
 
241
 
  
 
20
 
  
 
5,735
 
     5,609  
Governments
  
 
120,546
 
  
 
6,025
 
  
 
464
 
  
 
682
 
  
 
1,994
 
  
 
129,711
 
     110,432  
 
  
$
    318,366
 
  
$
    58,823
 
  
$
    15,149
 
  
$
    15,482
 
  
$
    17,688
 
  
$
    425,508
 
   $     520,824  
 
  (1)
Beginning in the first quarter of 2023, excludes certain exposures previously subject to AIRB, now included under the standardized securitization approach pursuant to a change in methodology.
 
  (2)
Beginning in the second quarter of 2023, the IRB approach includes both the AIRB approach and the FIRB approach.
 
  (3)
Beginning in the second quarter of 2023, as part of the implementation of the Basel III reforms, certain exposures in which we act as a guarantor were prospectively reclassified from other
off-balance
sheet to repo-style transactions with the inclusion of the collateral held now included in collateral held for repo-style transactions.
 
Summary of Securitization Exposures
The following table provides details on securitization exposures in our banking book, by credit rating.
 
$ millions, as at October 31
   
2023
      2022  
     EAD  
Exposures under the IRB
(2)
approach
                  
S&P rating equivalent
                  
AAA to BBB-
   
$
24,171
 
    $ 15,333  
BB+ to BB-
   
 
–
 
      –  
Below BB-
   
 
–
 
      –  
Unrated
   
 
–
 
      –  
 
   
 
24,171
 
      15,333  
Exposures under the standardized approach
   
 
13,870
 
      3,257  
Total securitization exposures
   
$
    38,041
 
    $     18,590  
 
  (1)
Beginning in the first quarter of 2023, includes a change in methodology that resulted in certain exposures previously subject to AIRB, now being included under the standardized securitization approach.
 
  (2)
Beginning in the second quarter of 2023, the IRB approach includes both the AIRB approach and the FIRB approach.
 
Summary of Loans Contractually Past Due But Not Impaired
 
$ millions, as at October 31
   
31 to
90 days
     
Over
90 days
     
2023
Total
     
2022
Total
  
Residential mortgages
   
$
1,019
 
   
$
–
 
   
$
1,019
 
    $ 874  
Personal
   
 
280
 
   
 
–
 
   
 
280
 
      247  
Credit card
(1)
   
 
235
 
   
 
126
 
   
 
361
 
      331  
Business and government
   
 
184
 
   
 
–
 
   
 
184
 
      256  
 
   
$
    1,718
 
   
$
    126
 
   
$
    1,844
 
    $     1,708  
 
  (1)
For the acquired Canadian Costco credit card portfolio, the credit cards were transferred in the aging category that applied at the time of acquisition and have continued to age to the extent a payment has not been made.
 
Summary of Market Risks by Type of Risks
$ millions, as at or for the year ended October 31
                       
2023
                          2022  
    
High
    
Low
    
As at
    
Average
     High     Low     As at     Average  
Interest rate risk
  
$
11.7
 
  
$
4.9
 
  
$
7.9
 
  
$
7.2
 
   $ 16.3     $ 4.7     $ 6.0     $ 7.3  
Credit spread risk
  
 
2.5
 
  
 
1.0
 
  
 
2.1
 
  
 
1.5
 
     11.0       0.9       1.1       3.4  
Equity risk
  
 
8.6
 
  
 
3.3
 
  
 
4.6
 
  
 
5.4
 
     10.5       2.6       4.1       4.9  
Foreign exchange risk
  
 
3.4
 
  
 
0.3
 
  
 
1.2
 
  
 
0.8
 
     4.8       0.5       1.2       1.8  
Commodity risk
  
 
4.1
 
  
 
1.2
 
  
 
1.9
 
  
 
2.3
 
     6.0       1.1       1.4       2.3  
Debt specific risk
  
 
3.9
 
  
 
1.3
 
  
 
3.3
 
  
 
2.1
 
     3.3       1.2       1.9       2.2  
Diversification effect
(1)
  
 
n/m
 
  
 
n/m
 
  
 
(10.5
) 
  
 
(10.1
) 
     n/m       n/m       (8.1 )      (13.2 ) 
Total VaR
(one-day
measure)
  
$
13.2
 
  
$
6.6
 
  
$
10.5
 
  
$
9.2
 
   $ 14.6     $ 5.5     $ 7.6     $ 8.7  
Stressed total VaR
(one-day
measure)
  
$
62.2
 
  
$
14.2
 
  
$
32.0
 
  
$
36.9
 
   $ 49.9     $ 16.1     $ 31.2     $ 30.0  
IRC (one-year measure)
(2)
  
$
    150.0
 
  
$
    82.4
 
  
$
    101.9
 
  
$
    107.3
 
   $     178.9     $     95.7     $     114.0     $     130.7  
 
  (1)
Total VaR is less than the sum of the VaR of the different market risk types due to risk offsets resulting from a portfolio diversification effect.
  (2)
High and low IRC are not equal to the sum of the constituent parts, because the highs and lows of the constituent parts may occur on different days.
  n/m
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.
Summary of Structural Interest Rate Sensitivity - Measures
$ millions
(pre-tax),
as at October 31
         
2023
                   2022         
    
CAD
 
(1)
    
USD
    
Total
     CAD 
(1)
     USD     Total  
100 basis point increase in interest rates
                                                
Increase (decrease) in net interest income
  
$
     303
 
  
$
91
 
  
$
     394
 
   $      278     $ (7 )    $         271  
Increase (decrease) in EVE
  
 
(588
) 
  
 
(295
) 
  
 
(883
) 
     (679 )      (336 )      (1,015 ) 
100 basis point decrease in interest rates
                                                
Increase (decrease) in net interest income
  
 
(327
)
 
 
 
(88
)
 
 
 
(415
)
 
     (301 )      4       (297 ) 
Increase (decrease) in EVE
  
 
507
 
  
 
     319
 
  
 
826
 
     604            350           954  
 
  (1)
Includes CAD and other currency exposures.
Summary of Amortized Cost and Fair Values of Non-trading Equities
The following table provides the amortized cost and fair values of our
non-trading
equities:
 
$ millions, as at October 31
   Cost      Fair value  
2023
   
Equity securities designated at FVOCI
  
$
556
 
   
$
572
 
 
   
Equity-accounted investments in associates
(1)
  
 
137
 
   
 
240
 
 
   
 
  
$
693
 
   
$
812
 
2022   
Equity securities designated at FVOCI
   $     525      $     522  
 
   
Equity-accounted investments in associates
(1)
     206        230  
 
   
 
   $ 731      $ 752  
 
  (1)
Excludes our equity-accounted joint ventures. See Note 25 to the consolidated financial statements for further details.
Summary of Encumbered and Unencumbered Assets from On- and Off-Balance Sheet Sources
Encumbered and unencumbered liquid assets from
on-
and
off-balance
sheet sources are summarized as follows:
 
$ millions, as at October 31
   Bank owned
liquid assets		     Securities received
as collateral		      Total liquid
assets		      Encumbered
liquid assets		     Unencumbered
liquid assets
 (1)
  
2023
  
Cash and deposits with banks
  
$
55,718
 
  
$
–
 
   
$
55,718
 
   
$
862
 
  
$
54,856
 
   
Securities issued or guaranteed by sovereigns, central banks, and multilateral development banks
  
 
155,487
 
  
 
94,880
 
   
 
250,367
 
   
 
134,415
 
  
 
115,952
 
   
Other debt securities
  
 
5,729
 
  
 
11,681
 
   
 
17,410
 
   
 
4,343
 
  
 
13,067
 
   
Equities
  
 
43,798
 
  
 
28,432
 
   
 
72,230
 
   
 
33,317
 
  
 
38,913
 
   
Canadian government guaranteed National Housing Act mortgage-backed securities
  
 
31,733
 
  
 
4,908
 
   
 
36,641
 
   
 
17,365
 
  
 
19,276
 
 
  
Other liquid assets
(2)
  
 
12,597
 
  
 
2,685
 
   
 
15,282
 
   
 
8,238
 
  
 
7,044
 
 
  
 
  
$
305,062
 
  
$
142,586
 
   
$
447,648
 
   
$
198,540
 
  
$
249,108
 
2022
   Cash and deposits with banks   $ 63,861     $ –      $ 63,861      $ 286     $ 63,575  
   
Securities issued or guaranteed by sovereigns, central banks, and multilateral development banks
     133,923       85,602        219,525        122,283       97,242  
    Other debt securities     6,764       8,957        15,721        2,262       13,459  
    Equities     30,825       29,521        60,346        30,408       29,938  
   
Canadian government guaranteed National Housing Act mortgage-backed securities
     33,148       3,321        36,469        16,711       19,758  
 
   Other liquid assets
(2)
     19,159       2,326        21,485        16,040       5,445  
 
  
 
   $     287,680     $     129,727      $     417,407      $     187,990     $     229,417  
 
  (1)
Unencumbered liquid assets are defined as
on-balance
sheet assets, assets borrowed or purchased under resale agreements, and other
off-balance
sheet collateral received less encumbered liquid assets.
 
  (2)
Includes cash pledged as collateral for derivatives transactions, select ABS and precious metals.
 
Summary of Contractual Maturity Profile of On-Balance Sheet Assets, Liabilities and Equity at their Carrying Values
The following table provides the contractual maturity profile of our
on-balance
sheet assets, liabilities and equity at their carrying values. Contractual analysis is not representative of our liquidity risk exposure, however this information serves to inform our management of liquidity risk, and provide input when modelling a behavioural balance sheet.
 
$ millions, as at October 31, 2023   Less than
1 month		     1–3
months		     3–6
months		     6–9
months		     9–12
months		     1–2
years		     2–5
years		     Over
5 years		     No
specified
maturity		     Total  
Assets
                                                                                
Cash and
non-interest-bearing
deposits with banks
(1)
  
$
20,816
 
  
$
–
 
  
$
–
 
  
$
–
 
  
$
–
 
  
$
–
 
  
$
–
 
  
$
–
 
  
$
–
 
  
$
20,816
 
Interest-bearing deposits with banks
  
 
34,902
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
34,902
 
Securities
  
 
4,197
 
  
 
6,058
 
  
 
6,398
 
  
 
5,675
 
  
 
6,544
 
  
 
32,109
 
  
 
61,775
 
  
 
42,281
 
  
 
46,311
 
  
 
211,348
 
Cash collateral on securities borrowed
  
 
14,651
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
14,651
 
Securities purchased under resale agreements
  
 
46,144
 
  
 
13,660
 
  
 
10,857
 
  
 
5,922
 
  
 
2,110
 
  
 
1,478
 
  
 
13
 
  
 
–
 
  
 
–
 
  
 
80,184
 
Loans
                                                                                
Residential mortgages
  
 
2,877
 
  
 
5,617
 
  
 
11,229
 
  
 
9,004
 
  
 
17,963
 
  
 
72,444
 
  
 
146,601
 
  
 
8,509
 
  
 
–
 
  
 
274,244
 
Personal
  
 
1,060
 
  
 
525
 
  
 
867
 
  
 
750
 
  
 
903
 
  
 
903
 
  
 
4,149
 
  
 
5,452
 
  
 
30,978
 
  
 
45,587
 
Credit card
  
 
389
 
  
 
779
 
  
 
1,168
 
  
 
1,168
 
  
 
1,168
 
  
 
4,672
 
  
 
9,194
 
  
 
–
 
  
 
–
 
  
 
18,538
 
Business and government
  
 
11,809
 
  
 
8,452
 
  
 
11,362
 
  
 
13,379
 
  
 
12,203
 
  
 
35,588
 
  
 
71,584
 
  
 
18,622
 
  
 
11,871
 
  
 
194,870
 
Allowance for credit losses
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
(3,902
) 
  
 
(3,902
) 
Derivative instruments
  
 
1,926
 
  
 
6,145
 
  
 
3,054
 
  
 
2,245
 
  
 
1,369
 
  
 
3,916
 
  
 
8,538
 
  
 
6,050
 
  
 
–
 
  
 
33,243
 
Customers’ liability under acceptances
  
 
10,075
 
  
 
726
 
  
 
14
 
  
 
1
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
10,816
 
Other assets
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
40,422
 
  
 
40,422
 
 
  
$
148,846
 
  
$
41,962
 
  
$
44,949
 
  
$
38,144
 
  
$
42,260
 
  
$
151,110
 
  
$
301,854
 
  
$
80,914
 
  
$
125,680
 
  
$
975,719
 
October 31, 2022
   $   162,138     $   38,036     $   33,508     $   30,461     $   37,755     $   106,155     $   339,631     $   77,111     $   118,802     $   943,597  
Liabilities
                                                                                
Deposits
(2)
  
$
27,324
 
  
$
45,781
 
  
$
53,988
 
  
$
55,787
 
  
$
49,179
 
  
$
45,310
 
  
$
74,115
 
  
$
19,314
 
  
$
352,578
 
  
$
723,376
 
Obligations related to securities sold short
  
 
18,666
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
18,666
 
Cash collateral on securities lent
  
 
8,081
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
8,081
 
Obligations related to securities sold under repurchase agreements
  
 
78,889
 
  
 
6,528
 
  
 
577
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
1,124
 
  
 
–
 
  
 
–
 
  
 
87,118
 
Derivative instruments
  
 
81
 
  
 
5,384
 
  
 
3,112
 
  
 
2,342
 
  
 
1,648
 
  
 
4,315
 
  
 
11,191
 
  
 
13,217
 
  
 
–
 
  
 
41,290
 
Acceptances
  
 
10,079
 
  
 
726
 
  
 
14
 
  
 
1
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
10,820
 
Other liabilities
  
 
24
 
  
 
23
 
  
 
73
 
  
 
73
 
  
 
71
 
  
 
292
 
  
 
579
 
  
 
883
 
  
 
24,654
 
  
 
26,672
 
Subordinated indebtedness
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
36
 
  
 
–
 
  
 
–
 
  
 
6,447
 
  
 
–
 
  
 
6,483
 
Equity
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
53,213
 
  
 
53,213
 
 
  
$
143,144
 
  
$
58,442
 
  
$
57,764
 
  
$
58,203
 
  
$
50,934
 
  
$
49,917
 
  
$
87,009
 
  
$
39,861
 
  
$
430,445
 
  
$
975,719
 
October 31, 2022
   $ 123,388     $ 44,632     $ 48,750     $ 62,962     $ 57,224     $ 39,220     $ 84,857     $ 36,779     $ 445,785     $ 943,597  
 
  (1)
Cash includes interest-bearing demand deposits with the Bank of Canada.
  (2)
Comprises $239 billion (2022: $232.1 billion) of personal deposits; $462.1 billion (2022: $443.0 billion) of business and government deposits and secured borrowings; and $22.3 billion (2022: $22.5 billion) of bank deposits.
Summary of Off-Balance Sheet Credit Related Commitments
The following table provides the contractual maturity of notional amounts of credit-related commitments. Since a significant portion of commitments are expected to expire without being drawn upon, the total of the contractual amounts is not representative of future liquidity requirements.
 
$ millions, as at October 31, 2023
   Less than
1 month		     1–3
months		     3–6
months		     6–9
months		     9–12
months		     1–2
years		     2–5
years		     Over
5 years		     No specified
maturity 
(1)
     Total  
Unutilized credit commitments
  
$
1,619
 
  
$
8,475
 
  
$
4,684
 
  
$
7,753
 
  
$
5,897
 
  
$
23,782
 
  
$
70,820
 
  
$
3,230
 
  
$
232,656
 
  
$
358,916
 
Securities lending
(2)
  
 
42,478
 
  
 
6,467
 
  
 
5,954
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
54,899
 
Standby and performance letters of credit
  
 
4,932
 
  
 
3,568
 
  
 
3,250
 
  
 
3,885
 
  
 
2,974
 
  
 
646
 
  
 
812
 
  
 
137
 
  
 
–
 
  
 
20,204
 
Backstop liquidity facilities
  
 
–
 
  
 
12,624
 
  
 
123
 
  
 
206
 
  
 
44
 
  
 
5,430
 
  
 
738
 
  
 
149
 
  
 
–
 
  
 
19,314
 
Documentary and commercial letters of credit
  
 
15
 
  
 
100
 
  
 
21
 
  
 
9
 
  
 
2
 
  
 
32
 
  
 
24
 
  
 
–
 
  
 
–
 
  
 
203
 
Other
  
 
1,704
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
1,704
 
 
  
$
50,748
 
  
$
31,234
 
  
$
14,032
 
  
$
11,853
 
  
$
8,917
 
  
$
29,890
 
  
$
72,394
 
  
$
3,516
 
  
$
232,656
 
  
$
455,240
 
October 31, 2022
   $   50,694     $   28,841     $   13,542     $   10,256     $   8,415     $   22,105     $   68,049     $   2,735     $   216,873     $   421,510  
  (1)
Includes $179.2 billion (2022: $167.3 billion) of personal, home equity and credit card lines, which are unconditionally cancellable at our discretion.
  (2)
Excludes securities lending of $8.1 billion (2022: $4.9 billion) for cash because it is reported on the consolidated balance sheet.
Summary of Contractual Maturities of Other Contractual Obligations Affecting Our Funding Needs
The following table provides the contractual maturities of other
off-balance
sheet contractual obligations affecting our funding needs:
 
$ millions, as at October 31, 2023
(1)
   Less than
1 month		     1–3
months		     3–6
months		     6–9
months		     9–12
months		     1–2
years		     2–5
years		     Over
5 years		     Total  
Purchase obligations
(2)
  
$
122
 
  
$
149
 
  
$
196
 
  
$
218
 
  
$
168
 
  
$
514
 
  
$
600
 
  
$
85
 
  
$
2,052
 
Investment commitments
  
 
–
 
  
 
1
 
  
 
9
 
  
 
–
 
  
 
1
 
  
 
3
 
  
 
13
 
  
 
554
 
  
 
581
 
Future lease commitments
(1)
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
10
 
  
 
92
 
  
 
467
 
  
 
569
 
Pension contributions
(3)
  
 
11
 
  
 
22
 
  
 
32
 
  
 
33
 
  
 
32
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
130
 
Underwriting commitments
  
 
12
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
–
 
  
 
12
 
 
  
$
145
 
  
$
172
 
  
$
237
 
  
$
251
 
  
$
201
 
  
$
527
 
  
$
705
 
  
$
1,106
 
  
$
3,344
 
October 31, 2022
   $     1,066     $     193     $     341     $     250     $     220     $     597     $     847     $     1,074     $     4,588  
  (1)
Excludes operating lease obligations that are accounted for under IFRS 16, which are typically recognized on the consolidated balance sheet, and operating and tax expenses relating to lease commitments. The table includes lease obligations that are not accounted for under IFRS 16, including those related to future starting lease commitments for which we have not yet recognized a lease liability and
right-of-use
asset.
 
  (2)
Obligations that are legally binding agreements whereby we agree to purchase products or services with specific minimum or baseline quantities defined at fixed, minimum or variable prices over a specified period of time are defined as purchase obligations. Purchase obligations are included through to the termination date specified in the respective agreements, even if the contract is renewable. Many of the purchase agreements for goods and services include clauses that would allow us to cancel the agreement prior to expiration of the contract within a specific notice period. However, the amount above includes our obligations without regard to such termination clauses (unless actual notice of our intention to terminate the agreement has been communicated to the counterparty). The table excludes purchases of debt and equity instruments that settle within standard market time frames.
 
  (3)
Includes estimated minimum funding contributions for our funded defined benefit pension plans in Canada, the U.S., the U.K., and the Caribbean. Estimated minimum funding contributions are included only for the next annual period as the minimum contributions are affected by various factors, such as market performance and regulatory requirements, and are therefore subject to significant variability.