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IFRS 7 Disclosure (Tables)
 3 Months Ended
Jan. 31, 2025
Text Block [Abstract]  
Summary of Loans Contractually Past Due But Not Impaired
$ millions, as at                   
2025
Jan. 31
      2024
Oct. 31		  
     
31 to
90 days
     
Over
90 days
     
Total
      Total  
Residential mortgages
   
$
1,241
  
$
–
  
$
1,241
   $ 1,216  
Personal
   
265
  
–
  
265
     261  
Credit card
   
268
  
179
  
447
     392  
Business and government
   
352
  
–
  
352
     226  
   
$
  2,126
  
$
  179
  
$
  2,305
   $   2,095  
Summary of Market Risks by Type of Risks
The following table shows VaR for our trading activities based on risk type.
 
$ millions, as at or for the three months ended
                       
2025
Jan. 31
           
2024
Oct. 31
           
2024
Jan. 31
  
    
High
    
Low
    
As at
    
Average
     As at     Average     As at     Average  
Interest rate risk
  
$
14.2
 
$
4.6
 
$
7.0
 
$
8.9
  $ 6.3     $ 7.5     $ 7.5     $ 7.4  
Credit spread risk
  
2.9
 
1.3
 
1.3
 
2.1
    1.9       2.2       2.6       2.4  
Equity risk
  
9.2
 
7.1
 
8.9
 
7.9
    6.9       5.7       5.2       5.7  
Foreign exchange risk
  
3.6
 
0.8
 
1.3
 
1.6
    0.6       1.2       1.2       0.9  
Commodity risk
  
6.0
 
1.1
 
5.9
 
2.8
    1.2       2.9       3.0       2.7  
Diversification effect
  (1)
  
n/m
 
  n/m
 
(13.3
) 
  
(12.4
) 
     (9.4 )      (11.0 )      (9.1 )      (9.8 ) 
Total VaR (one-day measure)  
$
  13.6
 
$
8.4
 
$
   11.1
 
$
   10.9
  $    7.5     $     8.5     $    10.4     $    9.3  
(1)
Total VaR is less than the sum of the VaR of the different market risk types due to risk offsets resulting from a portfolio diversification effect.
n/m
Not meaningful. It is not meaningful to compute a diversification effect because the high and low may occur on different days for different risk types.
Summary of Structural Interest Rate Sensitivity - Measures
$ millions (pre-tax), as at          
2025
Jan. 31
                     2024
Oct. 31		                     2024
Jan. 31		          
    
 
CAD
 
(1)
 
  
USD
  
Total
     CAD  
(1)
 		     USD        Total        CAD  
(1)
 		     USD        Total  
100 basis point increase in interest rates
                        
Increase (decrease) in net interest income
   
$
109
 		  
$
    41
 		   
$
150
 		    $    
159
     $     
45
      $
204
      $    
163
     $    
114
      $
277
  
Increase (decrease) in EVE
   
 		   
(1,061
)
 		  
 
(454
)
 		   
 		   
(1,515
)
 		      (956 )      (400 )         (1,356 )       (787 )      (363 )       (1,150 ) 
100 basis point decrease in interest rates
                        
Increase (decrease) in net interest income
   
 
(174
)
 		  
 
(44
)
 		   
 
(218
)
 		      (193 )      (49 )       (242 )       (217 )      (111 )       (328 ) 
Increase (decrease) in EVE
   
 
975
 		  
 
464
 		   
 
1,439
 		      829       408        1,237        708       379           1,087  
(1)
Includes CAD and other currency exposures.
Summary of Encumbered and Unencumbered Assets from On- and Off-Balance Sheet Sources
Encumbered and unencumbered liquid assets from on- and off-balance sheet sources are summarized as follows:
 
$ millions, as at    Bank owned
liquid assets		      Securities received
as collateral		      Total liquid
assets		      Encumbered
liquid assets		     Unencumbered
liquid assets 
(1)
  
2025
   
Cash and deposits with banks
   
$
47,811
  
$
–
  
$
47,811
  
$
593
 
$
47,218
Jan. 31
   
Securities issued or guaranteed by sovereigns, central banks, and multilateral development banks
   
186,503
  
127,831
  
314,334
  
178,768
 
135,566
  
Other debt securities
   
6,373
  
13,525
  
19,898
  
4,351
 
15,547
  
Equities
   
67,475
  
35,615
  
103,090
  
69,700
 
33,390
  
Canadian government guaranteed National Housing Act mortgage-backed securities
   
34,198
  
2,757
  
36,955
  
23,107
 
13,848
  
Other liquid assets
(2)
   
19,352
  
3,674
  
23,026
  
11,149
 
11,877
  
  
$
361,712
  
$
183,402
  
$
545,114
  
$
287,668
 
$
257,446
2024
    Cash and deposits with banks    $ 48,064      $ –      $ 48,064      $ 560     $ 47,504  
Oct. 31
   
Securities issued or guaranteed by sovereigns, central banks, and multilateral development banks
      178,324        108,499        286,823        146,992       139,831  
   Other debt securities      6,093        11,328        17,421        3,696       13,725  
   Equities      58,102        33,424        91,526        54,269       37,257  
  
Canadian government guaranteed National Housing Act mortgage-backed securities
      35,155        2,038        37,193        20,263       16,930  
    Other liquid assets
 (2)
      16,021        2,849        18,870        8,971       9,899  
   
   $   341,759      $   158,138      $   499,897      $   234,751     $   265,146  
(1)
Unencumbered liquid assets are defined as on-balance sheet assets, assets borrowed or purchased under resale agreements, and other off-balance sheet collateral received less encumbered liquid assets.
(2)
Includes cash pledged as collateral for derivatives transactions, select asset-backed securities and precious metals.
Summary of Contractual Maturity Profile of On-Balance Sheet Assets, Liabilities and Equity at their Carrying Values
The following table provides the contractual maturity profile of our on-balance sheet assets, liabilities and equity at their carrying values. Contractual analysis is not representative of our liquidity risk exposure, however, this information serves to inform our management of liquidity risk, and provide input when modelling a behavioural balance sheet.
 
$ millions, as at January 31, 2025   Less than
1 month		     1–3
months		     3–6
months		     6–9
months		     9–12
months		     1–2
years		     2–5
years		     Over
5 years		     No
specified
maturity		     Total  
Assets
                    
Cash and non-interest-bearing deposits
with banks 
(1)
  
$
13,530
 
$
–
 
$
–
 
$
–
 
$
–
 
$
–
 
$
–
 
$
–
 
$
–
 
$
13,530
Interest-bearing deposits with banks
  
34,281
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
34,281
Securities
  
7,468
 
8,301
 
15,558
 
9,611
 
14,995
 
32,005
 
62,839
 
49,654
 
72,610
 
273,041
Cash collateral on securities borrowed
  
18,609
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
18,609
Securities purchased under resale agreements
  
49,767
 
16,203
 
12,705
 
3,915
 
2,247
 
1,295
 
7
 
4
 
–
 
86,143
Loans
                    
Residential mortgages
  
5,657
 
12,463
 
17,892
 
14,262
 
27,972
 
90,598
 
102,630
 
11,201
 
–
 
282,675
Personal
  
1,011
 
693
 
752
 
948
 
666
 
627
 
4,803
 
5,352
 
31,630
 
46,482
Credit card
  
424
 
848
 
1,272
 
1,272
 
1,272
 
5,086
 
10,008
 
–
 
–
 
20,182
Business and government 
(2)
  
3,718
 
4,965
 
16,769
 
15,048
 
15,655
 
54,962
 
78,595
 
20,704
 
12,468
 
222,884
Allowance for credit losses
  
–
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
(4,104
)
  
(4,104
)
Derivative instruments
  
3,248
 
4,619
 
3,336
 
2,223
 
3,913
 
5,950
 
8,613
 
6,670
 
–
 
38,572
Other assets
  
–
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
50,169
 
50,169
   
$
137,713
 
$
48,092
 
$
68,284
 
$
47,279
 
$
66,720
 
$
190,523
 
$
267,495
 
$
93,585
 
$
162,773
 
$
1,082,464
October 31, 2024
   $  130,008     $  45,680     $  57,993     $  52,094     $  61,184     $  186,218     $  260,975     $  101,546     $  146,287     $  1,041,985  
Liabilities
                    
Deposits 
(
3
)
  
$
47,327
 
$
53,168
 
$
57,862
 
$
44,816
 
$
45,255
 
$
54,037
 
$
66,119
 
$
22,582
 
$
391,010
 
$
782,176
Obligations related to securities sold short
  
20,778
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
20,778
Cash collateral on securities lent
  
8,914
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
8,914
Obligations related to securities sold under repurchase agreements
  
93,959
 
31,970
 
412
 
141
 
500
 
654
 
–
 
–
 
–
 
127,636
Derivative instruments
  
3,698
 
5,503
 
3,353
 
2,605
 
3,916
 
8,124
 
6,300
 
11,398
 
5
 
44,902
Other liabilities 
(2)
  
52
 
47
 
70
 
69
 
69
 
270
 
611
 
842
 
26,899
 
28,929
Subordinated indebtedness
  
–
 
–
 
–
 
–
 
–
 
–
 
34
 
7,464
 
–
 
7,498
Equity
  
–
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
61,631
 
61,631
   
$
174,728
 
$
90,688
 
$
61,697
 
$
47,631
 
$
49,740
 
$
63,085
 
$
73,064
 
$
42,286
 
$
479,545
 
$
1,082,464
October 31, 2024
   $ 188,502     $ 48,833     $ 75,616     $ 49,168     $ 46,158     $ 55,388     $ 73,705     $ 39,445     $ 465,170     $ 1,041,985  
(1)
Cash includes interest-bearing demand deposits with Bank of Canada.
(2)
Certain information has been revised to conform to the current period presentation.
(3)
Comprises $258.7 billion (October 31, 2024: $252.9 billion) of personal deposits; $503.4 billion (October 31, 2024: $492.0 billion) of business and government deposits and secured borrowings; and $20.1 billion (October 31, 2024: $20.0 billion) of bank deposits.
Summary of Off-Balance Sheet Credit Related Commitments
The following table provides the contractual maturity of notional amounts of credit-related commitments. Since a significant portion of commitments are expected to expire without being drawn upon, the total of the contractual amounts is not representative of future liquidity requirements.
 
$ millions, as at January 31, 2025
Less than
1 month
1–3
months
3–6
months
6–9
months
9–12
months
1–2
years
2–5
years
Over
5 years
No
specified
maturity 
(1)
Total
Unutilized credit commitments
  
$
1,911
 
$
9,772
 
$
6,599
 
$
7,604
 
$
6,399
 
$
23,826
 
$
85,343
 
$
3,223
 
$
250,479
 
$
395,156
Standby and performance letters of credit
  
5,372
 
2,537
 
4,632
 
3,749
 
6,084
 
604
 
712
 
208
 
–
 
23,898
Backstop liquidity facilities
  
10
 
50
 
327
 
56
 
24,642
 
353
 
271
 
–
 
–
 
25,709
Documentary and commercial letters of credit
  
22
 
116
 
29
 
30
 
10
 
8
 
10
 
–
 
–
 
225
Other 
(2)
  
697
 
–
 
–
 
–
 
–
 
–
 
–
 
–
 
57
 
754
 
$
8,012
 
$
12,475
 
$
  11,587
 
$
11,439
 
$
37,135
 
$
24,791
 
$
86,336
 
$
3,431
 
$
250,536
 
$
445,742
October 31, 2024
   $   18,455     $   35,462     $ 8,910     $   11,720     $   12,084     $   26,766     $   77,636     $   3,562     $   245,816     $   440,411  
(1)
Includes $192.9 billion (October 31, 2024: $189.6 billion) of personal, home equity and credit card lines, which are unconditionally cancellable at our discretion.
(2)
Includes forward-dated securities financing trades.
Summary of Contractual Maturities of Other Contractual Obligations Affecting Our Funding Needs
Other off-balance sheet contractual obligations
The following table provides the contractual maturities of other off-balance sheet contractual obligations affecting our funding needs:
 
$ millions, as at January 31, 2025   Less than
1 month		      1–3
months		      3–6
months		      6–9
months		      9–12
months		      1–2
years		      2–5
years		      Over
5 years		      Total  
Purchase obligations 
(1)
  
$
97
  
$
173
  
$
302
  
$
254
  
$
246
  
$
730
  
$
819
  
$
282
  
$
2,903
Future lease commitments 
(2)
  
–
  
–
  
–
  
2
  
5
  
28
  
97
  
441
  
573
Investment commitments
  
3
  
9
  
–
  
2
  
1
  
1
  
45
  
475
  
536
Underwriting commitments
  
590
  
–
  
–
  
–
  
–
  
–
  
–
  
–
  
590
Pension contributions 
(3)
  
14
  
28
  
41
  
41
  
–
  
–
  
–
  
–
  
124
 
$
704
  
$
210
  
$
343
  
$
299
  
$
252
  
$
759
  
$
961
  
$
1,198
  
$
4,726
October 31, 2024 
(2)
   $   607      $   263      $   292      $   321      $   279      $   737      $   850      $   1,203      $   4,552  
(1)
Obligations that are legally binding agreements whereby we agree to purchase products or services with specific minimum or baseline quantities defined at fixed, minimum or variable prices over a specified period of time are defined as purchase obligations. Purchase obligations are included through to the termination date specified in the respective agreements, even if the contract is renewable. Many of the purchase agreements for goods and services include clauses that would allow us to cancel the agreement prior to expiration of the contract within a specific notice period. However, the amount above includes our obligations without regard to such termination clauses (unless actual notice of our intention to terminate the agreement has been communicated to the counterparty). The table excludes purchases of debt and equity instruments that settle within standard market time frames.
(2)
Excludes lease obligations that are accounted for under IFRS 16, which are recognized on the consolidated balance sheet, and operating and tax expenses relating to lease commitments. The table includes lease obligations that are not accounted for under IFRS 16, including those related to future starting lease commitments for which we have not yet recognized a lease liability and right-of-use asset.
(3)
Includes estimated minimum funding contributions for our funded defined benefit pension plans in Canada, the U.S., the U.K., and the Caribbean. Estimated minimum funding contributions are included only for the remaining annual period ending October 31, 2025 as the minimum contributions are affected by various factors, such as market performance and regulatory requirements, and therefore are subject to significant variability.