TD Bank 2009 Annual Report Download - page 60

TD BANK FINANCIAL GROUP ANNUAL REPORT 2009 MANAGEMENT’S DISCUSSION AND ANALYSIS56
(millions of Canadian dollars, except as noted) Percentage of total
2009 20084200742009 2008420074
Canada
Residential mortgages1,2 $5$11 $4 0.3% 1.2% 0.6%
Consumer instalment and other personal 882 608 513 54.6 65.1 79.8
Total residential and personal 887 619 517 54.9 66.3 80.4
Real estate
Residential 11 ––0.7 ––
Non-residential 1–10.1 – 0.2
Total real estate 12 –10.8 – 0.2
Agriculture (1) ––(0.1) ––
Automotive 10 (3) 4 0.6 (0.3) 0.6
Chemical 1––0.1 ––
Financial 16 3–1.0 0.3 –
Food, beverage and tobacco 12 10 6 0.7 1.1 0.9
Forestry 18 (2) (4) 1.1 (0.2) (0.6)
Health and social services 24–0.1 0.4 –
Industrial construction and trade contractors 95110.6 0.5 1.7
Media and entertainment 19 521.2 0.5 0.3
Metals and mining 41–0.2 0.1 –
Pipelines, oil and gas 810 – 0.5 1.1 –
Retail sector 24 11 6 1.5 1.2 0.9
Sundry manufacturing and wholesale 12 4 (2) 0.7 0.4 (0.3)
Transportation 9410.6 0.4 0.2
Other 22 15 5 1.4 1.6 0.8
Total business and government 177 67 30 11.0 7.1 4.7
Total Canada 1,064 686 547 65.9 73.4 85.1
United States
Residential mortgages 17 11 – 1.1 1.2 –
Consumer instalment and other personal 198 72 46 12.3 7.7 7.1
Total residential and personal 215 83 46 13.4 8.9 7.1
Real estate
Residential 73 36 28 4.5 3.9 4.3
Non-residential 51 413.1 0.4 0.2
Total real estate 124 40 29 7.6 4.3 4.5
Agriculture 1–10.1 – 0.2
Automotive 628 – 0.4 3.0 –
Chemical 4––0.2 ––
Financial 28 38 8 1.7 4.1 1.2
Food, beverage and tobacco 4310.2 0.3 0.2
Forestry 19 1–1.2 0.1 –
Government and public sector entities –1––0.1 –
Health and social services 13 240.8 0.2 0.6
Industrial construction and trade contractors 12 11 3 0.7 1.2 0.5
Media and entertainment 14 3–0.9 0.3 –
Metals and mining 514 2 0.3 1.5 0.3
Pipelines, oil and gas 5––0.3 ––
Power and utilities (2) ––(0.1) ––
Retail sector 16 13 1 1.0 1.4 0.2
Sundry manufacturing and wholesale 22 241.4 0.2 0.6
Telecommunications and cable (5) (1) (7) (0.3) (0.1) (1.1)
Transportation –1––0.1 –
Other 22 951.4 1.0 0.8
Total business and government1288 165 51 17.8 17.7 8.0
Total United States 503 248 97 31.2 26.6 15.1
Other International
Business and government 3– (1) 0.2 – (0.2)
Total other international 3– (1) 0.2 – (0.2)
Total excluding debt securities classified as loans 1,570 934 643 97.3 100.0 100.0
Debt securities classified as loans344 ––2.7 ––
Total specific provision 1,614 934 643 100.0% 100.0% 100.0%
General provision
General provision – loans 660 129 2
General provision – debt securities classified as loans3206 ––
Total general provision 866 129 2
Total provision for credit losses $ 2,480 $ 1,063 $ 645
PROVISION FOR CREDIT LOSSES BY INDUSTRY SECTOR
TABLE 30
1Includes trading loans that the Bank intends to sell immediately or in the near
term with a fair value of $140 million (amortized cost of $142 million), and loans
designated as trading under the fair value option of $210 million (amortized cost
of $226 million). No allowance is recorded for trading loans or loans designated
as trading under the fair value option.
2Effective 2009, MUR mortgages, and any related credit losses, have been
reclassified from personal – residential mortgages to business and government
retroactively to 2008. This is to achieve consistent reporting across all operating
business segments.
3As a result of the 2009 Amendments to CICA Handbook Section 3855, certain
available-for-sale and held-to-maturity securities were reclassified to loans, as
described in the “Changes in Accounting Policies during the Current Year” section.
4The presentation of 2008 and 2007 have been reclassified to conform to the
current presentation of reporting real estate secured loans under the borrower’s
appropriate industry sector rather than as a real estate loan.