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NOTE 8


LOANS, IMPAIRED LOANS, AND ALLOWANCE FOR CREDIT LOSSES


The following table presents the Bank’s loans, impaired loans, and related allowance for loan losses as at October 31.


Loans, Impaired Loans, and Allowance for Loan Losses (millions of Canadian dollars)


Gross Loans Neither


past due Past due nor


but not Residential mortgages3,4,5


Consumer instalment and other personal6 Credit card


Business and government3,4,5


Debt securities classified as loans Acquired credit-impaired loans


Total Residential mortgages3,4,5


Consumer instalment and other personal6 Credit card


Business and government3,4,5


Debt securities classified as loans Acquired credit-impaired loans


Total


1 Excludes allowance for off-balance sheet positions. 2


3 5


As at October 31, 2016, impaired loans exclude $1.1 billion (October 31, 2015 – $1.2 billion) of gross impaired debt securities classified as loans.


Excludes trading loans with a fair value of $12 billion as at October 31, 2016 (October 31, 2015 – $11 billion), and amortized cost of $11 billion as at October 31, 2016 (October 31, 2015 – $10 billion).


4


Includes insured mortgages of $118 billion as at October 31, 2016 (October 31, 2015 – $126 billion).


FORECLOSED ASSETS


Foreclosed assets are repossessed non-financial assets where the Bank gains title, ownership, or possession of individual properties, such as real estate properties, which are managed for sale in an orderly manner with the proceeds used to reduce or repay any outstanding debt. The Bank does not generally occupy foreclosed properties for its business use. The Bank predominantly relies on third-party appraisals to determine the


Impaired Loans1 (millions of Canadian dollars)


Related Unpaid


principal balance2


Residential mortgages


Consumer instalment and other personal


Credit card


Business and government Total


$ 909 1,557


374 984


$ 3,824


1 Excludes ACI loans and debt securities classified as loans. 2 Represents contractual amount of principal owed.


Carrying value


$ 852 1,392


374 891


$ 3,509


October 31, 2016 Average


allowance for credit losses


$ 49 166


290 219


$ 724 gross


impaired loans


$ 844 1,492


345 883


$ 3,564 Unpaid


principal balance2


$ 844 1,437


306 978


$ 3,565


Carrying value


$ 786 1,278


306 874


$ 3,244 Related


allowance for credit losses


$ 47 136


217 184


$ 584 6


$ 208,802 $ 2,343 128,123 28,148


163,840


5,923 1,761 1,990


$ 528,913 $ 12,017


impaired impaired Impaired2 $ 213,586 $ 2,523


136,650 29,715


191,229


6,390 1,825 1,454


$ 571,180 $ 12,192 Total


$ 852 $ 216,961 1,392 144,432 374


31,914 891 193,574


$ 3,509 $ 586,881 1,674


974 $ 589,529


$ 786 $ 211,931 1,278 135,324 306


30,215 874 166,704


$ 3,244 $ 544,174 2,187


1,414 $ 547,775


specific $ –


– –


189


$ 189 206


4 $ 399


$ – – –


156


$ 156 207


6 $ 369


Counter- insignificant party


Individually impaired


Allowance for loan losses1 Incurred


Total identified $


166 290 30


$ 535 –


58 $ 593


$ 47 136 217 28


$ 428 –


77 $ 505


loans loan losses $ 49


but not allowance for loan losses


48 $


656 924


1,198 – 1,214


261 62


Net loans


97 $ 216,864 822 143,610 30,700


1,417 192,157


$ 2,826 $ 3,550 $ 583,331 55


1,413 912


$ 2,881 $ 3,873 $ 585,656 October 31, 2015


$ 58


632 897 916


$ 2,503 57


– $ 2,560


$ 105 $ 211,826 768 134,556 29,101


1,114


1,100 165,604 $ 3,087 $ 541,087 264


83


1,923 1,331


$ 3,434 $ 544,341


As at October 31, 2016, impaired loans with a balance of $448 million did not have a related allowance for loan losses (October 31, 2015 – $419 million). An allowance was not required for these loans as the balance relates to loans that are insured or loans where the realizable value of the collateral exceeded the loan amount.


Includes Canadian government-insured real estate personal loans of $18 billion as at October 31, 2016 (October 31, 2015 – $21 billion).


As at October 31, 2016


carrying value of foreclosed assets. Foreclosed assets held for sale were $106 million as at October 31, 2016 (October 31, 2015 – $134 million), and were recorded in Other assets on the Consolidated Balance Sheet.


The following table presents information related to the Bank’s impaired loans as at October 31.


As at


October 31, 2015 Average


gross


impaired loans


$ 790 1,045


294 866


$ 2,995


152 TD BANK GROUP ANNUAL REPORT 2016 FINANCIAL RESULTS


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