TD Bank 2014 Annual Report Download - page 118
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TD BANK GROUP ANNUAL REPORT 2014 MANAGEMENT’S DISCUSSION AND ANALYSIS116
(millions of Canadian dollars, except as noted) 2014 2013 2012
Allowance for loan losses – Balance at beginning of year $ 2,855 $ 2,644 $ 2,314
Provision for credit losses 1,557 1,631 1,795
Write-offs
Canada
Residential mortgages 21 20 18
Consumer instalment and other personal
HELOC 13 18 16
Indirect Auto 207 160 155
Other 234 274 310
Credit card 582 543 335
Total personal 1,057 1,015 834
Real estate
Residential 1 2 3
Non-residential 3 3 4
Total real estate 4 5 7
Total business and government (including real estate) 109 104 108
Total Canada 1,166 1,119 942
United States
Residential mortgages 17 33 42
Consumer instalment and other personal
HELOC 43 65 101
Indirect Auto 232 231 145
Other 79 74 67
Credit card 288 56 50
Total personal 659 459 405
Real estate
Residential 12 16 91
Non-residential 18 59 84
Total real estate 30 75 175
Total business and government (including real estate) 117 191 385
Total United States 776 650 790
Other International
Personal – – –
Business and government – – –
Total other international – – –
Other loans
Debt securities classified as loans 5 11 –
Acquired credit-impaired loans1,2 20 38 112
Total other loans 25 49 112
Total write-offs against portfolio 1,967 1,818 1,844
Recoveries
Canada
Residential mortgages 5 3 4
Consumer instalment and other personal
HELOC 5 2 3
Indirect Auto 138 35 20
Other 60 55 51
Credit card 109 101 46
Total personal 317 196 124
Real estate
Residential 1 1 1
Non-residential 2 1 1
Total real estate 3 2 2
Total business and government (including real estate) 29 28 25
Total Canada $ 346 $ 224 $ 149
ALLOWANCE FOR CREDIT LOSSES
TABLE 71
The change in the Bank’s allowance for credit losses for the years
ended October 31, 2014, October 31, 2013, and October 31, 2012,
are shown in the following table.
1 Includes all FDIC covered loans and other ACI loans.
2 Other adjustments are required as a result of the accounting for FDIC covered
loans. For additional information, see “FDIC Covered Loans” section in Note 8
of the Bank’s Consolidated Financial Statements.