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Securities (Tables)
 9 Months Ended
Jul. 31, 2025
Text Block [Abstract]  
Summary of Securities
Securities
 
$ millions, as at   
2025
Jul. 31
      2024
Oct. 31		  
      Carrying amount  
Securities measured and designated at FVOCI
   
$
84,093
 
    $ 76,693  
Securities measured at amortized cost 
(1)
   
 
68,812
 
      71,610  
Securities mandatorily measured and designated at FVTPL
   
 
122,092
 
      106,042  
    
$
   274,997
 
    $   254,345  
(1)
There were no sales of securities measured at amortized cost during the quarter (October 31, 2024: a realized gain of nil).
Fair Value of Debt Securities Measured and Equity Securities Designated at FVOCI
Fair value of debt securities measured and equity securities designated at FVOCI
 
$ millions, as at                          
2025
Jul. 31
                            2024
Oct. 31		  
    
 

 
Cost/
Amortized
cost
 
 
 
(1)
 
  
 

 
Gross
unrealized
gains
 
 
 
   
 

 
Gross
unrealized
losses
 
 
 
   
 
Fair
value
 
     
 		 Cost/
Amortized
cost		  
 
 
(1)
 		    
 		 Gross
unrealized
gains		  
 
 		     
 		 Gross
unrealized
losses		  
 
 		     Fair
value
 
Securities issued or guaranteed by:
                     
Canadian federal government
   
$
12,596
 
  
$
7
 
   
$
(16
)
   
$
12,587
 
    $ 11,715     $ 1      $ (31 )    $ 11,685  
Other Canadian governments
   
 
16,729
 
  
 
17
 
   
 
(59
)
   
 
16,687
 
      16,506       9        (101 )      16,414  
U.S. Treasury and agencies
   
 
31,729
 
  
 
52
 
   
 
(118
)
   
 
31,663
 
      29,362       10        (220 )      29,152  
Other foreign governments
   
 
7,051
 
  
 
27
 
   
 
(2
)
   
 
7,076
 
      5,542       22        (4 )      5,560  
Mortgage-backed securities
   
 
3,631
 
  
 
3
 
   
 
(15
)
   
 
3,619
 
      3,493       –        (23 )      3,470  
Asset-backed securities
   
 
1,503
 
  
 
2
 
   
 
–
 
   
 
1,505
 
      656       1        –       657  
Corporate debt
   
 
9,993
 
  
 
10
 
   
 
(5
)
   
 
9,998
 
      9,085       7        (9 )      9,083  
    
 
83,232
 
  
 
118
 
   
 
(215
)
   
 
83,135
 
      76,359       50        (388 )      76,021  
Corporate equity 
(2)
   
 
916
 
  
 
65
 
   
 
(23
)
   
 
958
 
      653       51        (32 )      672  
    
$
  84,148
 
  
$
    183
 
   
$
    (238
)
   
$
  84,093
 
    $   77,012     $   101      $   (420 )    $   76,693  
(1)
Net of allowance for credit losses for debt securities measured at FVOCI of $23 million (October 31, 2024: $19 million).
(2)
Includes restricted stock.
Summary of Allowance for Credit Losses measured at FVOCI
Allowance for credit losses
The following table provides a reconciliation of the opening balance to the closing balance of the ECL allowance for debt securities measured at FVOCI and amortized cost:
 
         Stage 1     Stage 2     Stage 3                
$ millions, as at or for the three months ended     
 		 Collective provision
12-month ECL
performing		  
 
 		    
 		 Collective provision
lifetime ECL
performing		  
 
 		    

 		 Collective and
individual provision
lifetime ECL
credit-impaired
  
 
 
 
(1)
 		  
 
 
 
      Total  
2025
  
Debt securities measured at FVOCI and amortized cost
            
Jul. 31
  
Balance at beginning of period
   
$
6
 
  
$
16
 
  
$
11
 
     
$
33
 
 
Provision for (reversal of) credit losses 
(2)
   
 
(1
)
  
 
4
 
  
 
26
 
     
 
29
 
 
Write-offs
   
 
–
 
  
 
–
 
  
 
–
 
     
 
–
 
 
  
Foreign exchange and other
   
 
1
 
  
 
–
 
  
 
–
 
  
 
 
 
   
 
1
 
 
  
Balance at end of period
   
$
6
 
  
$
20
 
  
$
37
 
  
 
 
 
   
$
63
 
 
Comprises:
            
 
Debt securities measured at FVOCI
   
$
3
 
  
$
20
 
  
$
–
 
     
$
23
 
 
  
Debt securities measured at amortized cost
   
 
3
 
  
 
–
 
  
 
37
 
  
 
 
 
   
 
40
 
2025
  
Debt securities measured at FVOCI and amortized cost
            
Apr. 30
  
Balance at beginning of period
    $ 7     $ 18     $ 12        $ 37  
 
Reversal of credit losses 
(2)
      (1 )      (1 )      –          (2 ) 
 
Write-offs
      –       –       –          –  
 
  
Foreign exchange and other
      –       (1 )      (1 )   
 
 
 
      (2 ) 
 
  
Balance at end of period
    $ 6     $ 16     $ 11    
 
 
 
    $ 33  
 
Comprises:
            
 
Debt securities measured at FVOCI
    $ 2     $ 16     $ –        $ 18  
 
  
Debt securities measured at amortized cost
      4       –       11    
 
 
 
      15  
2024
  
Debt securities measured at FVOCI and amortized cost
            
Jul. 31
  
Balance at beginning of period
    $ 6     $ 19     $ 13        $ 38  
 
Provision for (reversal of) credit losses 
(2)
      1       (1 )      (1 )         (1 ) 
 
Write-offs
      –       –       –          –  
 
  
Foreign exchange and other
      –       –       –    
 
 
 
      –  
 
  
Balance at end of period
    $    7     $   18     $   12    
 
 
 
    $   37  
 
Comprises:
            
 
Debt securities measured at FVOCI
    $ 1     $ 18     $ –        $ 19  
 
  
Debt securities measured at amortized cost
      6       –       12    
 
 
 
      18  
$ millions, as at or for the nine months ended
  
2025
  
Debt securities measured at FVOCI and amortized cost
            
Jul. 31
  
Balance at beginning of period
   
$
7
 
  
$
17
 
  
$
12
 
     
$
36
 
 
Provision for (reversal of) credit losses 
(2)
   
 
(2
)
  
 
3
 
  
 
25
 
     
 
26
 
 
Write-offs
   
 
–
 
  
 
–
 
  
 
–
 
     
 
–
 
 
  
Foreign exchange and other
   
 
1
 
  
 
–
 
  
 
–
 
  
 
 
 
   
 
1
 
 
  
Balance at end of period
   
$
6
 
  
$
20
 
  
$
37
 
  
 
 
 
   
$
63
 
2024
  
Debt securities measured at FVOCI and amortized cost
            
Jul. 31
  
Balance at beginning of period
    $    8     $   20     $   14        $   42  
 
Reversal of credit losses 
(2)
      –       (2 )      (2 )         (4 ) 
 
Write-offs
      –       –       –          –  
 
  
Foreign exchange and other
      (1 )      –       –    
 
 
 
      (1 ) 
 
  
Balance at end of period
    $ 7     $ 18     $ 12    
 
 
 
    $ 37  
(1)
Includes stage 3 ECL allowance on originated credit-impaired amortized cost debt securities.
(2)
Included in gains (losses) from debt securities measured at FVOCI and amortized cost, net on our interim consolidated statement of income.