The following table presents an analysis of the change in net interest income of volume and interest rate changes. In this analysis, changes due to volume/ interest rate variance have been allocated to average interest rate.
T ABLE 8 ANALYSIS OF CHANGE IN NET INTEREST INCOME1,2 (millions of Canadian dollars) Average volume Interest-earning assets
Interest-bearing deposits with banks Canada U.S.
Securities Trading
Canada U.S.
Non-trading Canada U.S.
Securities purchased under reverse repurchase agreements Canada U.S.
Loans
Residential mortgages Canada U.S.
Consumer instalment and other personal Canada U.S.
Credit card Canada U.S.
Business and government Canada U.S.
International Total interest income Interest-bearing liabilities
Deposits Personal Canada U.S.
Banks
Canada U.S.
Business and government Canada U.S.
Subordinated notes and debentures
Obligations related to securities sold short and under repurchase agreements Canada U.S.
Securitization liabilities
Other liabilities Canada U.S.
International
Total interest expense Net interest income
1 10
(14) 332
(35) 40
(12) (1)
(50) (11) 52
–
$ 426 $ 2,189
Geographic classification of assets and liabilities is based on the domicile of the booking point of assets and liabilities.
2
11 29
(28) 311
(35)
(26) 161
(91) 14 58
–
$ 105 $ (990)
21 15
304 276 5
(38) 160
(141) 3
– 110
$ 531 $ 1,199
9 8
375 248 –
(11) 14
(126) (12) 25
–
$ 638 $ 2,035
7 8
(119) (404) (22)
(74) 50
(58) 3
3 53
$ (876) $ (895)
16 16
256
(156) (22)
(85) 64
(184) (9)
3 78
$ (238) $ 1,140
Interest income includes loan fees earned by the Bank, which are recognized in net interest income over the life of the loan through the effective interest rate method.
$
80 35
$ (264) (35)
$ (184) –
$
66 42
$ (302) (21)
$ (236) 21
259 37
193 156
39
631 251
651 25
$ 2,615
(457) 8
(189) (15)
(51) (82)
(81) (33) (58)
$ (885)
(198) 45
4 141
(12) 549
170 618
(33) $ 1,730
290 139
171 229
14
282 257
761 75
$ 2,673
(578) (13)
(70)
(143) (24)
(119) (306)
(339) (42)
$ (1,771)
(288) 126
101 86
(10) 163 (49)
422 33
$ 902
(132) (23)
150 364
22 (10) 22
(30) (15)
(87)
(17) 121
(110) (53)
135 277
5 111
(127) 96
138 257
49 1
57 25
(36) (102)
(88) 15
(70)
121 102
155
(39) 16
$ 7 (5)
$ (6) 85
$ 1 80 $ 5 36 $
(7) (1)
$ (2) 35 2016 vs. 2015
Increase (decrease) due to changes in Average rate
Net change Average volume 2015 vs. 2014
Increase (decrease) due to changes in Average rate
Net change
18 TD BANK GROUP ANNUAL REPORT 2016 MANAGEMENT’S DISCUSSION AND ANALYSIS
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