Fixed Income Quarterly—Banks
Page 7
Table 8: Insured vs Uninsured Mortgages
Insured Mortgages
Residential Condo
Uninsured Mortgages
Avg. LTV 1 HELOCs
Total RESL Exposure
Uninsured %
(C$ billion)
(C$ billion)
BMO BNS 2 CM NA3 RY TD4
Total / Avg.
Residential
31.2 76.9 40.5
9.4 98.8 37.4
294.3
Condo
6.1 8.6 4.5 1.1 9.8 7.0
37.1
% 31-Jan-14
59% 26.4
57% 18.6
60% 19.2
58% 15.6
56% 43.1
60% 60.6
58% 183.5
Insured
51.9 103.3 101.3
21.1
75.4 147.5
500.5
%
Total
115.7 207.4 165.5
47.2 227.1 226.4
989.3
BMO
BNS
CM
NA
RY
TD 100.4 21.0
45.5 6.4 92.9 10.4 89.2 12.1 18.9 2.2 68.7 6.8
45% 63.8 55% 50% 104.1 50% 61% 64.2 39% 45% 26.1 55% 33% 151.6 67% 65% 79.0 35%
51% 488.8 49%
Total 415.6 58.9
1. Based on December 31, 2013 housing prices and is for entire uninsured portfolio 2. BNS $14 million of HELOCs is insured
3. NA LTV is for uninsured residential mortgages, LTV on HELOCs was 59%
4. TD $26.0B of HELOCs is insured
Source: Company Reports; As at January 31, 2014
Chart 6: 2014 Maturity Profile by Month, Including IMPP (C$ Equivalent)
Chart 7: Canadian Banks: Year-Over-Year Loan Growth (In Canada)
(C$ billion)
8
7.4
Senior Unsecured
Covered
4.9
Sub Debt
1.1
Aug
Hybrids - Tier 2A
Hybrids - Tier 1
6.1
Nov
IMPP
4.3
Dec
25% 20% 15% 10%
5% 0% -5% -10% -15% -20%
7 6 5 4 3 2 1 0
5.1
5.6
2.7
0.8
Apr May
Total Credit
Commercial Credit
Consumer Credit
Jun Jul
Sep Oct
Dec-88 Dec-90 Dec-92 Dec-94 Dec-96 Dec-98 Dec-00 Dec-02 Dec-04 Dec-06 Dec-08 Dec-10 Dec-12
Note: Year-over-year percentage change includes securitization, Consumer Loans include Residential Mortgages as well as Consumer Lending, Total Credit sum of Commercial and Consumer Credit.
As at February 2014
Source: Bank of Canada Banking and Financial Statistics
Note: Excludes issues less than C$100 mm, less than 2 years and extendibles; As at March 31, 2014
Source: BMO Capital Markets, Bloomberg
Year over Year Change