Bank of Montreal 2013 Annual Report Download - page 96

Table 5: Asset Encumbrance ($ millions)
Other cash and
On-balance securities
sheet assets received Encumbered (1) Net unencumbered
Pledged as Other Other Available as
As at October 31, 2013 collateral encumbered unencumbered (3) collateral
Cash and cash equivalents 26,083 – – 1,211 1,461 23,411
Interest bearing deposits with banks 6,518 – – – – 6,518
Securities and securities borrowed or purchased under resale agreements
Government debt 86,715 11,955 33,237 14,184 1,226 50,023
Mortgage-backed securities and collateralized mortgage obligations 10,891 1,199 1,547 – 168 10,375
Corporate debt 20,874 868 2,178 556 3,976 15,032
Corporate equity 56,300 14,231 26,387 7,124 1,445 35,575
Total securities and securities borrowed or purchased under
resale agreements 174,780 28,253 63,349 21,864 6,815 111,005
NHA mortgage-backed securities (reported as loans at amortized cost) (2) 11,425 – – – – 11,425
Total liquid assets 218,806 28,253 63,349 23,075 8,276 152,359
Loans 267,670 – 37,868 1,956 227,846 –
Other assets 50,823 – – – 50,823 –
Total loans and other assets 318,493 – 37,868 1,956 278,669 –
Total 537,299 28,253 101,217 25,031 286,945 152,359
(1) Pledged as collateral refers to the portion of BMO-owned assets and cash and securities received that is pledged through repurchase agreements, securities lent, derivative contracts, minimum
required deposits at central banks, and requirements associated with participation in clearing houses and payment systems. Other encumbered includes assets that are not available for use for legal
or other reasons such as restricted cash, restricted OTC derivatives and short sales.
(2) Under IFRS, NHA mortgage-backed securities (MBS) that include BMO’s originated mortgages as the underlying collateral are classified as loans. Unencumbered NHA MBS securities have liquidity
value and are included as liquid assets under BMO’s liquidity and funding management framework. This amount is shown as a separate line item, NHA mortgage-backed securities.
(3) Other unencumbered assets include select holdings management believes are not readily available to support BMO’s liquidity requirements. These include cash and securities of $8.3 billion as at
October 31, 2013, which include securities held in BMO’s insurance subsidiary, structured investment vehicle, credit protection vehicle, significant equity investments, and certain investments held in
our merchant banking business. Other unencumbered assets also include loans and other assets. A portion of these loans may be used as collateral to access central bank facilities under normal
operations or securitized to access secured funding.
Table 6: Other Statistical Information
As at or for the year ended October 31 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004
Other Information
Employees (1)
Canada 30,301 30,797 31,351 29,821 29,118 29,529 28,944 27,922 26,684 26,494
United States 14,696 14,963 15,184 7,445 6,732 7,256 6,595 6,785 6,901 6,900
Other 634 512 440 363 323 288 288 234 200 199
Total 45,631 46,272 46,975 37,629 36,173 37,073 35,827 34,941 33,785 33,593
Bank branches
Canada 933 930 920 910 900 983 977 963 968 988
United States 626 638 688 321 290 292 243 215 208 182
Other 4 3 3 3 5 5 4 4 4 4
Total 1,563 1,571 1,611 1,234 1,195 1,280 1,224 1,182 1,180 1,174
Automated banking machines
Canada 2,900 2,596 2,235 2,076 2,030 2,026 1,978 1,936 1,952 1,993
United States 1,325 1,375 1,366 905 636 640 583 547 539 479
Total 4,225 3,971 3,601 2,981 2,666 2,666 2,561 2,483 2,491 2,472
Rates
Average Canadian prime rate (%) 3.00 3.00 3.00 2.46 2.70 5.21 6.08 5.57 4.30 4.05
Average U.S. prime rate (%) 3.25 3.25 3.25 3.25 3.34 5.69 8.19 7.76 5.85 4.17
Canadian/U.S. dollar exchange rates ($)
High 1.06 1.05 1.06 1.08 1.30 1.29 1.19 1.20 1.27 1.40
Low 0.98 0.97 0.94 1.00 1.03 0.92 0.95 1.10 1.16 1.22
Average 1.02 1.00 0.99 1.04 1.16 1.03 1.09 1.13 1.21 1.31
End of year 1.04 1.00 1.00 1.02 1.08 1.20 0.94 1.12 1.18 1.22
(1) Reflects full-time equivalent number of employees, comprising full-time and part-time employees and adjustments for overtime hours.
Supplemental Information
BMO Financial Group 196th Annual Report 2013 107