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TD BANK FINANCIAL GROUP ANNUAL REPORT 2003 • Management’s Discussion and Analysis 53
TABLE 16 Assets under administration and assets under management
(millions of dollars) 2003 2002 2001
Assets under administration
Personal and Commercial Banking
Retail custody and other $ 17,572 $ 15,235 $ 16,754
Loans securitized 18,675 14,716 18,256
Total Personal and Commercial Banking 36,247 29,951 35,010
Wealth Management
TD Waterhouse retail brokerage – Canada 55,183 46,509 47,602
– United States and other international 159,412 141,400 151,721
214,595 187,909 199,323
Other Wealth Management 52,303 45,801 40,790
Total Wealth Management 266,898 233,710 240,113
Total assets under administration $303,145 $263,661 $275,123
Assets under management
Wealth Management $ 113,406 $111,920 $119,467
TABLE 17 Contractual obligations by remaining maturity
2003
Within 1 1 to 3 3 to 5 Over 5
(millions of dollars) year years years years Total
Subordinated notes and debentures $157 $ 5 $ 396 $5,329 $5,887
Operating lease commitments 314 492 329 505 1,640
Capital trust securities –– –1,250 1,250
Network service agreements 116 216 200 188 720
$587 $713 $ 925 $7,272 $9,497
TABLE 15 Current replacement cost of derivatives
(millions of dollars)
Canada1United States1Other international1Total
By sector 2003 2002 2003 2002 2003 2002 2003 2002 2001
Financial $11,976 $12,155 $295 $ 909 $13,619 $10,317 $25,890 $ 23,381 $20,741
Government 1,496 797 –1192 252 1,688 1,050 1,206
Other 1,128 863 188 437 807 1,074 2,123 2,374 2,875
Current replacement cost $14,600 $13,815 $483 $1,347 $ 14,618 $11,643 $29,701 $ 26,805 $24,822
Less impact of master netting
agreements and collateral 20,149 18,176 15,779
$ 9,552 $ 8,629 $ 9,043
2003 2002
By location of ultimate risk (after impact of master netting agreements and collateral) 2003 2002 % mix % mix
Canada $3,309 $ 2,035 34.6 23.6
United States 1,842 2,037 19.3 23.6
Other international
United Kingdom 798 1,277 8.3 14.8
Europe – other 2,016 2,475 21.1 28.7
Australia and New Zealand 925 272 9.7 3.2
Japan 48 90 .5 1.0
Asia – other 74 155 .8 1.8
Latin America and Caribbean 72 123 .8 1.4
Middle East and Africa 468 165 4.9 1.9
Total other international 4,401 4,557 46.1 52.8
Total current replacement cost $9,552 $ 8,629 100.0 100.0
1Based on geographic location of unit responsible for recording revenue.