TD Bank 2003 Annual Report Download - page 65

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TD BANK FINANCIAL GROUP ANNUAL REPORT 2003 • Financial Results 63
Securities – Unrealized gains and losses
(millions of dollars) 2003 2002
Gross Gross Estimated Gross Gross Estimated
Book unrealized unrealized market Book unrealized unrealized market
value gains losses value value gains losses value
Investment securities
Government and government-
insured securities
Canada $13,881 $108 $ 18 $13,971 $12,755 $249 $ 1 $13,003
Provinces 142 3 – 145 231 1 – 232
Other debt securities
Canadian issuers 624 5 1 628 326 3 – 329
U.S. federal government 1,951 – – 1,951 2,853 – – 2,853
Other foreign governments 3,344 23 9 3,358 4,257 39 1 4,295
Other issuers 1,971 22 1 1,992 3,912 156 3 4,065
Equity securities
Preferred shares 1,127 103 3 1,227 1,491 31 26 1,496
Common shares 1,735 398 69 2,064 2,977 391 268 3,100
Total investment securities 24,775 662 101 25,336 28,802 870 299 29,373
Trading securities 54,890 – – 54,890 53,395 – – 53,395
Total securities $79,665 $662 $101 $80,226 $82,197 $870 $299 $82,768
Included in gross residential mortgages are Canadian govern-
ment-insured mortgages of $36,659 million at October 31, 2003
(2002 – $41,360 million). Gross impaired loans include foreclosed
assets held for sale with a gross carrying value of $17 million at
October 31, 2003 (2002 – $27 million) and a related allowance
of $5 million (2002 – $8 million).
Included in consumer instalment and other personal loans are
Canadian government-insured real estate secured personal loans
of $2,578 million at October 31, 2003 (2002 – $2,680 million).
Included in business and government loans are $3,241 million
(2002 – $7,032 million) of gross loans in the communications
sector and $2,579 million (2002 – $5,872 million) of gross loans
in the utilities sector against which sectoral allowances of $216
million (2002 – $619 million) and $209 million (2002 – $508 mil-
lion) have been provided, respectively.
Loans and impaired loans
(millions of dollars)
Impaired Total
Gross Gross loans net allowance Net
amount of impaired Specific of specific General Sectoral for credit amount
2003 loans1loans allowance allowance allowance allowance losses of loans
Residential mortgages $ 52,566 $ 51 $ 8 $ 43 $ 33 $ – $ 41 $ 52,525
Consumer instalment
and other personal 43,185 114 62 52 215 – 277 42,908
Business and government 24,319 1,206 417 789 736 541 1,694 22,625
Total $120,070 $1,371 $ 487 $ 884 $ 984 $ 541 $2,012 $118,058
2002
Residential mortgages $ 52,810 $ 57 $ 10 $ 47 $ 16 $ – $ 26 $ 52,784
Consumer instalment
and other personal 36,601 137 69 68 200 – 269 36,332
Business and government 36,716 2,331 995 1,336 925 1,285 3,205 33,511
Total $126,127 $2,525 $1,074 $1,451 $1,141 $1,285 $3,500 $122,627
2003 2002
Average gross impaired loans during the year $2,305 $ 1,647
1Loans are net of unearned income of $122 million (2002 – $229 million).
NOTE 3Loans, impaired loans and allowance for credit losses