Global Banking and Markets Financial Performance
IMPACT FROM ADOPTION OF IFRS 9
Adoption of IFRS 9 effective November 1, 2017 and no restatement of prior period results
Current period January 31, 2018 results are based on IFRS 9, while prior periods are based on
IAS 39
• Net reduction to Shareholder's Equity of $610 million and CET1 ratio impact of -14 basis points
•
Recognize provision for credit losses on performing loans (Stage 1 and Stage 2) each quarter
。 Q1/18: Net benefit of $20 million
• Minimal change to gross impaired loans from Stage 3 definition of impaired loans
• Certain allowances previously attributed to impaired loans now attributed to performing loans
。 Approximately $1 billion now attributed to performing loans
。 Results in higher net impaired loans from Stage 3 definition of impaired loans
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