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Related Party Transactions | 12 Months Ended
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Oct. 31, 2025
Related Party Transactions [Abstract] |
Related Party Transactions | NOTE 26: RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability to directly or indirectly control the other party or exercise significant influence over the other party in making financial or operational decisions. The Bank’s related parties include key management personnel, their close family members and their related entities, subsidiaries, associates, joint ventures, and post-employment benefit plans for the Bank’s employees. TRANSACTIONS WITH KEY MANAGEMENT PERSONNEL, THEIR CLOSE FAMILY MEMBERS, AND THEIR RELATED ENTITIES Key management personnel are those persons having authority and responsibility for planning, directing, and controlling the activities of the Bank, directly or indirectly. The Bank considers certain of its officers and directors to be key management personnel. The Bank makes loans to its key management personnel, their close family members, and their related entities on market terms and conditions with the exception of banking products and services for key management personnel, which are subject to approved policy guidelines that govern all employees. As at October 31, 2025, $ 131 million (October 31, 2024 – $ 14 million) of related party loans were outstanding from key management personnel, their close family members, and their related entities. This amount also includes balances from certain retired key management personnel. COMPENSATION The remuneration of key management personnel was as follows: Compensation (millions of Canadian dollars) For the years ended October 31 2025 2024 Short-term employee benefits $ 52 $ 30 Post-employment benefits 3 1 Share-based payments 54 23 Total $ 109 $ 54 In addition, the Bank offers deferred share and other plans to non-employee directors, executives, and certain other key employees. Refer to Note 21 for further details. In the ordinary course of business, the Bank also provides various banking services to associated and other related corporations on terms similar to those offered to non-related parties. TRANSACTIONS WITH SUBSIDIARIES, SCHWAB, AND SYMCOR INC. Transactions between the Bank and its subsidiaries meet the definition of related party transactions. If these transactions are eliminated on consolidation, they are not disclosed as related party transactions. Transactions between the Bank, Schwab, and Symcor Inc. (Symcor) also qualify as related party transactions. As the Bank’s entire remaining equity investment in Schwab was sold on February 12, 2025, Schwab is no longer a related party as of October 31, 2025, but was a related party up to the date of sale. There were no significant transactions between the Bank, Schwab, and Symcor during the year ended October 31, 2025, other than as described in the following sections and in Note 12. i) TRANSACTIONS WITH SCHWAB A description of significant transactions between the Bank and its affiliates with Schwab is set forth below. Insured Deposit Account Agreement As at October 31, 2025, deposits under the Schwab IDA Agreement were $ 106 billion (US$ 76 billion) (October 31, 2024 – $ 117 billion (US$ 84 billion)). The Bank paid fees of $405 million related to sweep deposit accounts from November 1, 2024 to February 11, 2025, the period in which Schwab was a related party to the Bank. The Bank paid fees, net of the termination fees received from Schwab, of $ 908 million during the year ended October 31, 2024. As at October 31, 2025, amounts receivable from Schwab were $ 49 million (October 31, 2024 – $ 12 million). As at October 31, 2025, amounts payable to Schwab were $ 38 million (October 31, 2024 – $ 42 million). ii) TRANSACTIONS WITH SYMCOR The Bank has one-third ownership in Symcor, a Canadian provider of business process outsourcing services offering a diverse portfolio of integrated solutions in item processing, statement processing and production, and cash management services. The Bank accounts for Symcor’s results using the equity method of accounting. During the year ended October 31, 2025, the Bank paid $ 89 million (October 31, 2024 – $ 88 million) for these services. As at October 31, 2025, the amount payable to Symcor was $ 7 million (October 31, 2024 – $ 6 million). The Bank and two other shareholder banks have also provided a $ 100 million unsecured loan facility to Symcor which was undrawn as at October 31, 2025 and October 31, 2024.

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