Wholesale Banking - Positioned for Growth
Endnotes on Slides 17-18
TD
Slide 17
1. Please refer to Slide 7, Endnote 1.
2. Prior to May 4, 2023, the impact shown covers periods before the termination of the First Horizon transaction and includes the following
components, reported in the Corporate segment: i) mark-to-market gains (losses) on interest rate swaps, recorded in non-interest income - Q4
2023: nil, Q3 2023: ($125) million, Q4 2022: $2,208 million, ii) basis adjustment amortization related to de-designated fair value hedge
accounting relationships, recorded in net interest income - Q4 2023: nil, Q3 2023: $11 million, Q4 2022: $111 million, and iii) interest income
(expense) recognized on the interest rate swaps, reclassified from non-interest income to net interest income with no impact to total adjusted net
income - Q4 2023: nil, Q3 2023: $23 million, Q4 2022: $108 million. After the termination of the merger agreement, the residual impact of the
strategy is reversed through net interest income - Q4 2023: ($64) million, Q3 2023: ($63) million. Refer to the "Significant and Subsequent
Events" section in the Bank's 2023 MD&A for further details.
3. FX impact solely related to the U.S. Retail Bank. Adjusted expenses excluding the partners' share of net profits for the U.S. SCP and adjusted
expenses excluding the partners' share of net profits and FX are non-GAAP financial measures. For further information about these non-GAAP
financial measures, please see slide 7, Endnote 1.
4. Please refer to Slide 3, Endnote 3.
Slide 18
1. Please refer to slide 7, Endnote 1.
2.
Net interest margin (NIM) is calculated by dividing net interest income by average interest-earning assets. Average interest-earning assets used
in the calculation of NIM is a non-GAAP financial measure. NIM and average interest-earning assets are not defined terms under IFRS and,
therefore, may not be comparable to similar terms used by other issuers.
3.
Please refer to Slide 3, Endnote 3.
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