GROUP FINANCIAL CONDITION


Balance Sheet Review AT A GLANCE OVERVIEW


Total assets were $1,177 billion as at October 31, 2016, an increase of $73 billion, or 7%, compared with October 31, 2015.


T ABLE 22 CONDENSED CONSOLIDATED BALANCE SHEET (millions of Canadian dollars)


October 31 2016


Assets


Interest-bearing deposits with banks Available-for-sale securities Held-to-maturity securities


Loans, net of allowance for loan losses Other


Total assets Liabilities


Trading deposits Derivatives Deposits


Obligations related to securities sold under repurchase agreements


Other


Total liabilities Total equity


Total liabilities and equity $ 53,714 $


107,571 84,395


585,656 345,631


79,786 65,425


773,660 48,973


134,909


1,102,753 74,214


42,483 88,782 74,450


544,341 354,317


$ 1,176,967 $ 1,104,373


74,759 57,218


695,576 67,156


142,636


1,037,345 67,028


$ 1,176,967 $ 1,104,373


Total assets were $1,177 billion as at October 31, 2016, an increase of $73 billion, or 7%, from October 31, 2015. The increase was primarily due to an increase in loans, net of allowance for loan losses of $41 billion, available-for-sale securities of $19 billion, interest-bearing deposits with banks of $11 billion, and held-to-maturity securities of $10 billion. The foreign currency translation impact on total assets, primarily in the U.S. Retail segment, was $12 billion or 1%.


Loans (net of allowance for loan losses) increased $41 billion primarily due to an increase in the U.S. Retail, Canadian Retail, and Wholesale Banking segments. The increase in U.S. Retail was primarily due to growth in business and government loans and personal loans. The increase in Canadian Retail was primarily due to growth in business and government loans, personal loans, and residential mortgages. The increase in Wholesale was primarily due to growth in business and government loans.


As at


October 31 2015


Available-for-sale securities increased $19 billion primarily due to new investments, net of maturities and sales.


Interest-bearing deposits with banks increased $11 billion primarily due to higher personal deposit volumes.


Held-to-maturity securities increased $10 billion primarily due to new investments, net of maturities and foreign currency translations.


Total liabilities were $1,103 billion as at October 31, 2016, an increase of $66 billion, or 6%, from October 31, 2015. The increase was primarily due to an increase in deposits of $78 billion, derivatives of $8 billion, trading deposits of $5 billion, partially offset by obligations related to securities sold under repurchase agreements of $18 billion. The foreign currency translation impact on total liabilities, primarily in the U.S. Retail segment, was $11 billion or 1%.


Deposits increased $78 billion largely driven by the U.S. Retail, Canadian Retail, and Corporate segments. U.S. Retail deposits increased primarily due to personal non-term deposits and business and government deposits. Canadian Retail reflected increases in business and government deposits, and personal non-term deposits. Corporate segment’s deposits increased primarily due to senior debt and covered bond issuances, net of maturities.


Derivatives increased $8 billion primarily due to the current interest rate and foreign exchange environment, partially offset by netting of positions.


Trading deposits increased $5 billion primarily due to higher issuance of certificates of deposits and commercial paper in Wholesale Banking.


Obligations related to securities sold under repurchase agreements decreased $18 billion primarily due to a decrease in trading volumes.


Equity was $74 billion as at October 31, 2016, an increase of $7 billion, or 11%, from October 31, 2015. The increase was primarily due to higher retained earnings, higher preferred shares due to new issuances, and an increase in accumulated other comprehensive income due to foreign currency translation.


TD BANK GROUP ANNUAL REPORT 2016 MANAGEMENT’S DISCUSSION AND ANALYSIS


41


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