TD Bank 2014 Annual Report Download - page 162

TD BANK GROUP ANNUAL REPORT 2014 FINANCIAL RESULTS160
The following table presents information related to the Bank’s
impaired loans.
Impaired Loans1
(millions of Canadian dollars) As at
October 31, 2014
Related Average
Unpaid allowance gross
principal Carrying for credit impaired
balance2 value losses loans
Residential mortgages $ 807 $ 752 $ 22 $ 740
Consumer instalment and other personal 977 853 110 796
Credit card 294 294 199 292
Business and government 978 832 156 910
Total $ 3,056 $ 2,731 $ 487 $ 2,738
October 31, 2013
Residential mortgages $ 759 $ 706 $ 22 $ 697
Consumer instalment and other personal 834 737 118 709
Credit card 269 269 128 228
Business and government 1,179 980 181 968
Total $ 3,041 $ 2,692 $ 449 $ 2,602
1
Excludes ACI loans and debt securities classified as loans.
2
Represents contractual amount of principal owed.
The changes in the Bank’s allowance for credit losses for the years
ended October 31 are shown in the following tables.
Allowance for Credit Losses
(millions of Canadian dollars) Balance Foreign Balance
as at Provision exchange as at
November 1 for credit and other October 31
2013 losses Write-offs Recoveries Disposals adjustments 2014
Counterparty-specific allowance
Business and government $ 151 $ 68 $ (144) $ 72 $ – $ (13) $ 134
Debt securities classified as loans 173 31 (5) – – 14 213
Total counterparty-specific allowance excluding acquired
credit-impaired loans 324 99 (149) 72 – 1 347
Acquired credit-impaired loans1,2 24 (7) (3) 4 – (10) 8
Total counterparty-specific allowance 348 92 (152) 76 – (9) 355
Collectively assessed allowance for individually
insignificant impaired loans
Residential mortgages 22 23 (38) 15 – – 22
Consumer instalment and other personal 118 557 (808) 240 – 3 110
Credit card 128 771 (870) 169 – 1 199
Business and government 30 36 (82) 30 – 8 22
Total collectively assessed allowance for individually
insignificant impaired loans excluding acquired
credit-impaired loans 298 1,387 (1,798) 454 – 12 353
Acquired credit-impaired loans1,2 93 5 (17) 3 – 5 89
Total collectively assessed allowance for individually
insignificant impaired loans 391 1,392 (1,815) 457 – 17 442
Collectively assessed allowance for incurred
but not identified credit losses
Residential mortgages 65 (19) – – – 2 48
Consumer instalment and other personal 565 14 – – – 23 602
Credit card 767 138 – – – 19 924
Business and government 833 (13) – – – 52 872
Debt securities classified as loans 98 (47) – – – 8 59
Total collectively assessed allowance for incurred
but not identified credit losses 2,328 73 – – – 104 2,505
Allowance for credit losses
Residential mortgages 87 4 (38) 15 – 2 70
Consumer instalment and other personal 683 571 (808) 240 – 26 712
Credit card 895 909 (870) 169 – 20 1,123
Business and government 1,014 91 (226) 102 – 47 1,028
Debt securities classified as loans 271 (16) (5) – – 22 272
Total allowance for credit losses excluding acquired
credit-impaired loans 2,950 1,559 (1,947) 526 – 117 3,205
Acquired credit-impaired loans1,2 117 (2) (20) 7 – (5) 97
Total allowance for credit losses 3,067 1,557 (1,967) 533 – 112 3,302
Less: Allowance for off-balance sheet positions3 212 54 – – – 8 274
Allowance for loan losses $ 2,855 $ 1,503 $ (1,967) $ 533 $ – $ 104 $ 3,028
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 the “FDIC Covered Loans” section in
this Note.
3
The allowance for credit losses for off-balance sheet positions is recorded in Other
liabilities on the Consolidated Balance Sheet.