2008 Financial Overview and Trading Results
Scotiabank
Bank-Sponsored Multi-Seller Conduits
Canadian
(Q4/08, $ billions)
Conduits
U.S.
Conduit
Funded assets
3.8
8.4
Commitments
0.5
4.4
Total exposure
4.3
12.8
Weighted-average: rating (equivalent)
AA- or higher
92% A or higher
life (years)
1.0
1.2
Assets mostly receivables
Auto loans/leases: 42%; trade: 19%; credit cards/consumer: 11%;
equipment loans: 8%; diversified ABS: 8%
No direct CDO or CLO exposure
Scotiabank
27
Auto Industry Exposure Manageable
$ billions
Q4/08
Q3/08
Q4/07
North American & European Wholesale*
Original Equipment Manufacturers (OEM)
0.5
0.5
0.2
Finance & Leasing
1.2
1.0
0.6
Parts Manufacturers
0.7
0.6
0.8
Dealers/Floorplan
2.8
2.7
2.4
5.2**
4.8
4.0
Investment Grade
63%
60%
48%
Loss Ratio (2007 & 2008)
9bps
9bps
Consumer auto-backed securities
7.8
7.1
6.2
(primarily GMAC)
Bank sponsored & third party conduits
7.8
8.2
10.2
* loans and acceptances
**
* represents 4% of Business & Government loans and acceptances
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