Bank of Montreal 2013 Annual Report Download - page 108

Table 20: European Lending Exposure (1) by Country and Counterparty (Canadian $ in millions)
As at October 31, 2013 Lending (2)
Commitments Funded
Country Bank Corporate Sovereign Total Bank Corporate Sovereign Total
GIIPS
Greece – – – – – – – –
Ireland (5) – – – – – – – –
Italy 2 – – 2 2 – – 2
Portugal – – – – – – – –
Spain 77 – – 77 77 – – 77
Total – GIIPS 79 – – 79 79 – – 79
Eurozone (excluding GIIPS)
France 22 – – 22 22 – – 22
Germany 17 4 – 21 17 4 – 21
Netherlands 28 310 – 338 28 135 – 163
Other (6) 293 128 – 421 222 34 – 256
Total – Eurozone (excluding GIIPS) 360 442 – 802 289 173 – 462
Rest of Europe
Denmark 15 – – 15 15 – – 15
Norway 16 – – 16 16 – – 16
Sweden 23 98 – 121 23 41 – 64
Switzerland 3 543 – 546 3 160 – 163
United Kingdom 333 152 – 485 152 70 – 222
Other (6) 450 26 – 476 450 26 – 476
Total – Rest of Europe 840 819 – 1,659 659 297 – 956
Total – All of Europe 1,279 1,261 – 2,540 1,027 470 – 1,497
Table 21: European Securities Exposure (1) by Country and Counterparty (Canadian $ in millions)
As at October 31, 2013 Securities (3)
Gross Net
Country Bank Corporate Sovereign (4) Total Bank Corporate Sovereign (4) Total
GIIPS
Greece – – – – – – – –
Ireland – – 26 26 – – – –
Italy 57 23 116 196 – – – –
Portugal – – 130 130 – – – –
Spain 42 41 42 125 – – – –
Total – GIIPS 99 64 314 477 – – – –
Eurozone (excluding GIIPS)
France 32 108 494 634 – – 494 494
Germany 135 213 1,312 1,660 – 35 1,312 1,347
Netherlands 626 80 105 811 626 6 105 737
Other (6) 34 29 277 340 – 1 200 201
Total – Eurozone (excluding GIIPS) 827 430 2,188 3,445 626 42 2,111 2,779
Rest of Europe
Denmark 532 2 592 1,126 532 – 592 1,124
Norway 1,250 – – 1,250 1,250 – – 1,250
Sweden 276 4 – 280 276 – – 276
Switzerland 11 37 – 48 – – – –
United Kingdom 60 223 82 365 – 40 82 122
Other (6) – – 341 341 – – – –
Total – Rest of Europe 2,129 266 1,015 3,410 2,058 40 674 2,772
Total – All of Europe 3,055 760 3,517 7,332 2,684 82 2,785 5,551
(1) BMO also has exposure to entities in a number of European countries through our credit protection vehicle, U.S. customer securitization vehicle and structured investment vehicle. These exposures are
not included in the tables due to the credit protection incorporated in their structures.
(2) Lending includes loans and trade finance. Amounts are net of write-offs and gross of specific allowances, both of which are not considered material.
(3) Securities include cash products, insurance investments and traded credit. Gross traded credit includes only the long positions and excludes offsetting short positions.
(4) Sovereign includes sovereign-backed bank cash products.
(5) Does not include our Irish subsidiary’s reserves with the Irish Central Bank of $86 million.
(6) Includes countries with less than $500 million in gross exposure. Other Eurozone includes exposures to Austria, Belgium, Finland, Luxembourg, Slovakia and Slovenia. Other Europe includes exposures
to Croatia, Czech Republic, Hungary, Iceland, Poland and Russian Federation.
(7) Repo-style transactions are all with bank counterparties.
(8) Derivatives amounts are marked-to-market, incorporating transaction netting and, for counterparties where a Credit Support Annex is in effect, collateral offsets. Derivative replacement risk net of
collateral for all of Europe is approximately $2.7 billion.
Supplemental Information
BMO Financial Group 196th Annual Report 2013 119