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Table 10: Volume/Rate Analysis of Changes in Net Interest Income ($ millions)
2013/2012 2012/2011
Increase (decrease) due to change in Increase (decrease) due to change in
Average Average Average Average
For the year ended October 31 balance rate Total balance rate Total
Assets
Canadian Dollar
Deposits with other banks 1 1 2 (2) 9 7
Securities 35 (19) 16 134 (43) 91
Securities borrowed or purchased under resale agreements 16 (127) (111) 70 7 77
Loans
Residential mortgages 344 (197) 147 141 (543) (402)
Non-residential mortgages 16 (17) (1) 2 (13) (11)
Consumer instalment and other personal 70 (25) 45 134 (59) 75
Credit cards (12) 4 (8) – (10) (10)
Businesses and governments 170 (187) (17) 122 (226) (104)
Total loans 588 (422) 166 399 (851) (452)
Change in Canadian dollar interest income 640 (567) 73 601 (878) (277)
U.S. Dollar and Other Currencies
Deposits with other banks (19) 23 4 35 51 86
Securities 11 (149) (138) 50 (54) (4)
Securities borrowed or purchased under resale agreements 15 (47) (32) 27 (62) (35)
Loans
Residential mortgages (46) (25) (71) 243 (152) 91
Non-residential mortgages 32 (291) (259) 33 125 158
Consumer instalment and other personal 22 (166) (144) 114 61 175
Credit cards – 2 2 7 15 22
Businesses and governments 173 (121) 52 554 351 905
Total loans 181 (601) (420) 951 400 1,351
Change in U.S. dollar and other currencies interest income 188 (774) (586) 1,063 335 1,398
Total All Currencies
Change in total interest income (a) 828 (1,341) (513) 1,664 (543) 1,121
Liabilities
Canadian Dollar
Deposits
Banks 6 – 6 4 – 4
Businesses and governments 165 (55) 110 107 (211) (104)
Individuals 12 (32) (20) 30 (107) (77)
Total deposits 183 (87) 96 141 (318) (177)
Securities sold but not yet purchased (2) 49 47 101 (84) 17
Securities lent or sold under repurchase agreements (82) 57 (25) 47 (49) (2)
Subordinated debt and other interest-bearing liabilities (214) 16 (198) (104) (24) (128)
Change in Canadian dollar interest expense (115) 35 (80) 185 (475) (290)
U.S. Dollar and Other Currencies
Deposits
Banks – (2) (2) (5) (24) (29)
Businesses and governments 78 (70) 8 114 (41) 73
Individuals 1 (48) (47) 73 (54) 19
Total deposits 79 (120) (41) 182 (119) 63
Securities sold but not yet purchased (12) (48) (60) 32 (35) (3)
Securities lent or sold under repurchase agreements 1 (12) (11) 1 8 9
Subordinated debt and other interest-bearing liabilities 26 (84) (58) 29 (21) 8
Change in U.S. dollar and other currencies interest expense 94 (264) (170) 244 (167) 77
Total All Currencies
Change in total interest expense (b) (21) (229) (250) 429 (642) (213)
Change in total net interest income (a – b) 849 (1,112) (263) 1,235 99 1,334
Supplemental Information
BMO Financial Group 196th Annual Report 2013 111