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IFRS 7 Disclosure (Tables)

12 Months Ended

Oct. 31, 2025

Total credit exposures at default by type and industry sector, as at October 31, 2025 and 2024, based on the Basel III classifications, are disclosed in the table below.

TABLE 33


(Canadian $ in millions)	Drawn (3) (7)				Commitments (undrawn) (3) (8)				Other off-balance sheet items (3) (9)				OTC derivatives (4) (10)				Repo-style transactions (4) (5) (11)				Total (1)
	2025		2024		2025		2024		2025		2024		2025		2024		2025		2024		2025		2024
Individual		293,947		287,741		66,867		65,568		–		–		–		–		–		–		360,814		353,309
Financial institutions		79,224		105,378		22,460		20,484		5,750		7,447		26,790		27,393		18,756		17,712		152,980		178,414
Governments		259,618		230,353		3,137		3,024		1,663		1,760		8,631		4,481		2,426		1,070		275,475		240,688
Manufacturing		34,540		33,561		15,840		15,555		1,726		1,696		1,182		1,049		–		–		53,288		51,861
Real estate		72,516		66,650		10,750		8,632		1,265		1,234		520		412		–		–		85,051		76,928
Retail trade		29,470		30,595		4,258		4,262		855		645		158		152		–		–		34,741		35,654
Service industries		59,153		54,433		14,793		13,830		2,674		3,192		1,334		990		–		–		77,954		72,445
Wholesale trade		22,848		21,868		7,328		7,212		706		670		306		268		–		–		31,188		30,018
Oil and gas		3,479		3,180		3,064		3,010		510		623		677		610		–		–		7,730		7,423
Utilities		7,141		10,068		11,840		9,304		4,446		3,799		2,344		2,444		–		–		25,771		25,615
Others (2)		55,231		54,173		21,482		19,247		4,753		4,343		3,106		2,306		–		–		84,572		80,069
Total exposure at default (6)		917,167		898,000		181,819		170,128		24,348		25,409		45,048		40,105		21,182		18,782		1,189,564		1,152,424

(1)

Credit exposure excluding equity, securitization and other assets, such as

non-significant

investments, goodwill, deferred tax assets and intangibles.

(2)

Includes remaining industries that individually comprise less than 2% of total exposures.

(3)

Represents gross credit exposures without accounting for collateral.

(4)

Credit exposure at default is inclusive of collateral.

(5)

Repo-style transactions include repos, reverse repos and securities lending transactions, which represent both asset and liability exposures. The impact of collateral on the credit exposure for repo-style transactions is

332,756 million ($270,482 million in fiscal 2024).

(6)

Excludes exposures arising from derivative and repo-style transactions that are cleared through a clearing house or a central counterparty totalling $8,137 million ($7,086 million in fiscal 2024).

(7)

Drawn exposures include loans, acceptances, deposits with regulated financial institutions and certain securities.

(8)

Undrawn commitments cover unutilized authorizations associated with the drawn exposures noted above, including any authorizations that are unconditionally cancellable. EAD for undrawn commitments is model-generated, based on internal empirical data.

(9)

Other

off-balance

sheet exposures include items such as guarantees, standby letters of credit and documentary credits.

(10)

Over-the-counter

(OTC) derivatives are those in proprietary accounts that result in exposure to credit risk in addition to market risk. EAD for OTC derivatives is calculated inclusive of collateral.

(11)

EAD for repo-style transactions is the calculated exposure, net of collateral.

Credit Risk Rating Systems

BMO’s credit risk rating systems are designed to assess and measure the risk of exposure.

Credit risk parameters for both the wholesale and retail models are monitored for performance on a quarterly basis, and reviewed or revalidated regularly.

Refer to the Model Risk section for a discussion of model risk mitigation processes.

Summary Total Trading Value at Risk (VaR) Summary

Total Trading Value at Risk (VaR) Summary

(1)

TABLE 43


As at or for the year ended October 31 (Pre-tax Canadian $ equivalent in millions)	2025										2024
	Year-end			Average			High		Low		Year-end			Average			High		Low
Commodity VaR		8.2			8.0			16.1		2.0		2.1			3.8			5.4		2.0
Equity VaR		12.8			20.1			35.7		11.7		24.0			16.1			24.0		8.1
Foreign exchange VaR		0.8			1.8			5.1		0.8		1.0			1.2			2.9		0.4
Interest rate VaR (2)		30.0			28.2			41.9		21.4		23.0			30.8			44.7		22.1
Diversification		(25.9	)		(21.1	)		nm		nm		(17.6	)		(19.7	)		nm		nm
Total Trading VaR		25.9			37.0			48.1		25.9		32.5			32.2			45.5		23.1

(1)

One-day

measure using a 99% confidence interval. Gains are presented in brackets and losses are presented as positive numbers.

(2)

Interest rate VaR includes general credit spread risk.

nm – not meaningful

Structural Interest Rate Sensitivity

Structural

Interest Rate Sensitivity

(1) (2)


	Economic value sensitivity												Earnings sensitivity
(Pre-tax Canadian $ equivalent in millions)	October 31, 2025									October 31, 2024			October 31, 2025									October 31, 2024
(Pre-tax Canadian $ equivalent in millions)	Canada (3)			United States			Total			Total			Canada (3)			United States			Total			Total
100 basis point increase		(986	)		(750	)		(1,736	)		(1,483	)		104			252			357			367
100 basis point decrease		983			80			1,063			660			(26	)		(296	)		(322	)		(210	)

(1)

Losses are presented in brackets and gains are presented as positive numbers.

(2)

Interest rate sensitivities assume an immediate and sustained parallel shift in assumed interest rates across the entire yield curve as at the end of the period, using a constant balance sheet.

(3)

Includes Canadian dollar and other currencies.

Summary of Remaining Contractual Maturity


																				2025
(Canadian $ in millions)	0 to 1 month		1 to 3 months		3 to 6 months		6 to 9 months		9 to 12 months		1 to 2 years		2 to 5 years		Over 5 years		No specific maturity			Total
Assets
Cash and cash equivalents		65,232		–		–		–		–		–		–		–		2,252			67,484
Interest bearing deposits with banks		2,461		328		47		2		–		–		–		–		–			2,838
Securities		4,613		5,026		7,358		6,635		11,121		43,792		84,041		190,809		70,081			423,476
Securities borrowed or purchased under resale agreements		105,268		15,571		6,399		1,880		303		–		–		–		–			129,421
Loans (1)
Residential mortgages		2,596		6,037		10,583		14,475		13,025		46,764		66,853		35,365		335			196,033
Consumer instalment and other personal		691		1,584		3,079		4,292		3,376		12,991		20,184		19,079		27,465			92,741
Credit cards		–		–		–		–		–		–		–		–		12,649			12,649
Business and government		11,283		14,430		18,395		23,398		20,399		61,935		98,451		36,768		95,729			380,788
Allowance for credit losses		–		–		–		–		–		–		–		–		(5,050	)		(5,050	)
Total loans, net of allowance		14,570		22,051		32,057		42,165		36,800		121,690		185,488		91,212		131,128			677,161
Other assets
Derivative instruments		6,336		10,429		5,146		4,122		3,997		7,688		10,420		9,013		–			57,151
Customers’ liability under acceptances		711		–		–		–		–		–		–		–		–			711
Receivable from brokers, dealers and clients		43,167		–		–		–		–		–		–		–		–			43,167
Other		3,752		1,155		455		26		8		15		14		7,990		61,978			75,393
Total other assets		53,966		11,584		5,601		4,148		4,005		7,703		10,434		17,003		61,978			176,422
Total assets		246,110		54,560		51,462		54,830		52,229		173,185		279,963		299,024		265,439			1,476,802


																			2025
(Canadian $ in millions)	0 to 1 month		1 to 3 months		3 to 6 months		6 to 9 months		9 to 12 months		1 to 2 years		2 to 5 years		Over 5 years		No specific maturity		Total
Liabilities and Equity
Deposits (2) (3)		37,399		65,186		66,458		58,424		49,572		55,403		68,983		29,023		545,754		976,202
Other liabilities
Derivative instruments		5,789		9,844		6,317		4,517		4,264		7,180		10,924		9,894		–		58,729
Acceptances		711		–		–		–		–		–		–		–		–		711
Securities sold but not yet purchased (4)		54,876		–		–		–		–		–		–		–		–		54,876
Securities lent or sold under repurchase agreements (4)		113,549		17,158		762		–		–		3,498		–		–		–		134,967
Securitization and structured entities’ liabilities		1		2,375		200		481		1,377		2,980		10,287		33,861		–		51,562
Insurance-related liabilities		90		82		21		23		33		91		220		745		19,131		20,436
Payable to brokers, dealers and clients		45,170		–		–		–		–		–		–		–		–		45,170
Other		11,733		5,244		222		339		120		2,567		2,784		2,659		11,881		37,549
Total other liabilities		231,919		34,703		7,522		5,360		5,794		16,316		24,215		47,159		31,012		404,000
Subordinated debt		–		25		–		–		–		–		25		8,450		–		8,500
Total equity		–		–		–		–		–		–		–		–		88,100		88,100
Total liabilities and equity		269,318		99,914		73,980		63,784		55,366		71,719		93,223		84,632		664,866		1,476,802

(1)

Loans receivable on demand have been included under no specific maturity.

(2)

Deposits payable on demand and payable after notice have been included under no specific maturity.

(3)

Deposits totalling $

27,819

million as at October 31, 2025 have a fixed maturity date; however, they can be redeemed early (either fully or partially) by customers without penalty. These are classified as payable on a fixed date due to their stated contractual maturity date.

(4)

These are presented based on their earliest maturity date.


																			2025
(Canadian $ in millions )	0 to 1 month		1 to 3 months		3 to 6 months		6 to 9 months		9 to 12 months		1 to 2 years		2 to 5 years		Over 5 years		No specific maturity		Total
Off-Balance Sheet Commitments
Commitments to extend credit (1)		2,889		4,405		10,029		15,588		22,066		55,191		130,267		6,417		–		246,852
Letters of credit (2)		2,372		5,167		6,192		5,787		5,982		2,530		3,807		76		–		31,913
Backstop liquidity facilities		429		72		–		2,304		2,845		4,543		7,804		361		–		18,358
Other commitments (3)		59		92		154		144		136		444		805		256		–		2,090

(1)

Commitments to extend credit exclude personal lines of credit and credit cards that are unconditionally cancellable at BMO’s discretion. A large majority of these commitments expire without being drawn upon. As a result, the total contractual amounts may not be representative of the funding likely to be required for these commitments.

(2)

Letters of credit can be drawn down at any time. These are classified based on their stated contractual maturity.

(3)

Other commitments comprise purchase obligations and lease commitments for leases signed but not yet commenced.


																				2024
(Canadian $ in millions)	0 to 1 month		1 to 3 months		3 to 6 months		6 to 9 months		9 to 12 months		1 to 2 years		2 to 5 years		Over 5 years		No specific maturity			Total
Assets
Cash and cash equivalents		62,827		–		–		–		–		–		–		–		2,271			65,098
Interest bearing deposits with banks		2,513		628		481		18		–		–		–		–		–			3,640
Securities		6,787		14,011		7,840		6,707		9,720		21,264		84,775		172,886		72,890			396,880
Securities borrowed or purchased under resale agreements		85,185		16,803		5,701		2,330		888		–		–		–		–			110,907
Loans (1)
Residential mortgages		1,683		3,284		6,413		6,653		9,252		52,489		77,867		33,227		212			191,080
Consumer instalment and other personal		581		974		1,703		1,827		2,671		14,815		24,595		18,830		26,691			92,687
Credit cards		–		–		–		–		–		–		–		–		13,612			13,612
Business and government		8,647		14,418		16,461		19,448		21,828		63,613		105,740		32,444		102,394			384,993
Allowance for credit losses		–		–		–		–		–		–		–		–		(4,356	)		(4,356	)
Total loans, net of allowance		10,911		18,676		24,577		27,928		33,751		130,917		208,202		84,501		138,553			678,016
Other assets
Derivative instruments		5,573		7,996		7,211		2,482		1,660		6,365		8,374		7,592		–			47,253
Customers’ liability under acceptances		359		–		–		–		–		–		–		–		–			359
Receivable from brokers, dealers and clients		31,916		–		–		–		–		–		–		–		–			31,916
Other		3,847		1,012		948		31		14		13		13		7,717		61,983			75,578
Total other assets		41,695		9,008		8,159		2,513		1,674		6,378		8,387		15,309		61,983			155,106
Total assets		209,918		59,126		46,758		39,496		46,033		158,559		301,364		272,696		275,697			1,409,647


																			2024
(Canadian $ in millions )	0 to 1 month		1 to 3 months		3 to 6 months		6 to 9 months		9 to 12 months		1 to 2 years		2 to 5 years		Over 5 years		No specific maturity		Total
Liabilities and Equity
Deposits (2) (3)		47,637		74,759		69,479		68,110		48,835		51,789		87,297		25,602		508,932		982,440
Other liabilities
Derivative instruments		6,769		10,541		10,828		3,311		2,160		6,470		9,112		9,112		–		58,303
Acceptances		359		–		–		–		–		–		–		–		–		359
Securities sold but not yet purchased (4)		35,030		–		–		–		–		–		–		–		–		35,030
Securities lent or sold under repurchase agreements (4)		99,364		7,777		721		106		1,016		1,807		–		–		–		110,791
Securitization and structured entities’ liabilities		44		981		1,072		2,183		152		4,353		9,913		21,466		–		40,164
Insurance-related liabilities		93		89		18		18		30		83		195		701		17,543		18,770
Payable to brokers, dealers and clients		34,407		–		–		–		–		–		–		–		–		34,407
Other		12,409		2,968		805		144		1,611		2,492		4,058		2,799		9,434		36,720
Total other liabilities		188,475		22,356		13,444		5,762		4,969		15,205		23,278		34,078		26,977		334,544
Subordinated debt		–		–		–		–		–		25		25		8,327		–		8,377
Total equity		–		–		–		–		–		–		–		–		84,286		84,286
Total liabilities and equity		236,112		97,115		82,923		73,872		53,804		67,019		110,600		68,007		620,195		1,409,647

(1)