TD Bank 2011 Annual Report Download - page 108

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TD BANK GROUP ANNUAL REPORT 2011 FINANCIAL RESULTS106
The change in the Bank’s allowance for credit and loan losses as at
October 31, 2011 and October 31, 2010 is shown in the following table.
Allowance for Credit Losses
(millions of Canadian dollars) Foreign
At Provision exchange Balance
beginning for credit and other as at
of year losses Write-offs Recoveries adjustments Oct. 31
2011
Specific allowance
Residential mortgages $ 31 $ 28 $ (41) $ 4 $ 10 $ 32
Consumer instalment and other personal 117 581 (694) 69 40 113
Credit card 66 370 (419) 43 4 64
Business and government 323 285 (475) 51 38 222
Debt securities classified as loans 140 85 (48) – 2 179
Acquired credit-impaired loans1,2 – 81 (39) – 18 60
Total specific allowance 677 1,430 (1,716) 167 112 670
General allowance
Residential mortgages 35 (4) – – (1) 30
Consumer instalment and other personal 409 (2) – – (2) 405
Credit card 292 20 – – – 312
Business and government 1,011 31 – – (12) 1,030
Debt securities classified as loans 163 (10) – – (4) 149
Total general allowance 1,910 35 – – (19) 1,926
Allowance for credit losses
Residential mortgages 66 24 (41) 4 9 62
Consumer instalment and other personal 526 579 (694) 69 38 518
Credit card 358 390 (419) 43 4 376
Business and government 1,334 316 (475) 51 26 1,252
Debt securities classified as loans 303 75 (48) – (2) 328
Acquired credit-impaired loans1,2 – 81 (39) – 18 60
Total allowance for credit losses $ 2,587 $ 1,465 $ (1,716) $ 167 $ 93 $ 2,596
Less: Allowance for off-balance sheet instruments 278 3 – – 2 283
Allowance for loan losses $ 2,309 $ 1,462 $ (1,716) $ 167 $ 91 $ 2,313
2010
Specific allowance
Residential mortgages $ 34 $ 25 $ (35) $ 3 $ 4 $ 31
Consumer instalment and other personal 112 669 (762) 74 24 117
Credit card 71 410 (457) 39 3 66
Business and government 296 494 (512) 24 21 323
Debt securities classified as loans 45 128 (24) – (9) 140
Acquired credit-impaired loans1,2 – – – – – –
Total specific allowance 558 1,726 (1,790) 140 43 677
General allowance
Residential mortgages 18 17 – – – 35
Consumer instalment and other personal 424 (9) – – (6) 409
Credit card 302 (2) – – (8) 292
Business and government 1,060 (10) – – (39) 1,011
Debt securities classified as loans 277 (97) – – (17) 163
Total general allowance 2,081 (101) – – (70) 1,910
Allowance for credit losses
Residential mortgages 52 42 (35) 3 4 66
Consumer instalment and other personal 536 660 (762) 74 18 526
Credit card 373 408 (457) 39 (5) 358
Business and government 1,356 484 (512) 24 (18) 1,334
Debt securities classified as loans 322 31 (24) – (26) 303
Acquired credit-impaired loans1,2 – – – – – –
Total allowance for credit losses $ 2,639 $ 1,625 $ (1,790) $ 140 $ (27) $ 2,587
Less: Allowance for off-balance sheet instruments 271 11 – – (4) 278
Allowance for loan losses $ 2,368 $ 1,614 $ (1,790) $ 140 $ (23) $ 2,309
1 Includes all FDIC covered loans and other acquired credit-impaired loans.
2
Other adjustments are required as a result of the accounting for FDIC covered loans.
For additional information, see “Covered Loan” section in this Note.