Canadian Retail: Loans and Provisions Financial Overview
Energy - E&P and OFS Exposure¹
Total Exploration & Production (E&P)
Canadian E&P
U.S. E&P
Oilfield Services (OFS)
Total E&P and Oilfield Services Exposure
Loans and Acceptances
Outstanding ($B)
% of Total E&P
and OFS
% of Total Loans and
Acceptances
% Investment
Grade
Outstanding
7.2
85%
1.2%
52%
3.3
39%
0.5%
62%
0.9
10%
0.1%
14%
1.3
15%
0.2%
6%
8.5
100%
1.4%
45%
Total Loans and Acceptances Outstanding reduced by $1.3Bn (13%) vs. Q3
·
45% is rated investment grade. 51% of Total Energy (including
Midstream and Downstream) exposure is investment grade.
•
•
Outlook has improved due to the recent increase in oil prices.
Exploration & Production
Canada
(49%)
4.3
C&CA
(0%)
Majority of non-investment grade exposure is to secured reserve-
based loans or sovereign owned/controlled entities.
0.2
Europe
E&P and OFS
0.4
(62%)
Exposure by
•
Oilfield Services
Geography
·
Majority of non-investment grade exposure is secured. Focused on
companies with stronger liquidity and balance sheets.
$8.5B
0.6
•
ACL coverage in E&P and OFS beyond Stage 3
Asia
(94%)
(%IG)
2.0
Latin
America
(40%)
Maintained substantial Stage 1&2 ECL built in Q2 and Q3 through
expert credit judgement.
1.0
U.S.
(12%)
1 As of October 31, 2020. Excludes Midstream and Downstream
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