The following table shows a reconciliation of the accumulated other comprehensive income from derivatives designated as cash flow hedges and an analysis of other comprehensive income relating to hedge accounting:
Accumulated Other Comprehensive Income - Cash Flow Hedges
2021
2020
Balance at beginning of year
$
96,006 $
22,858
Amounts recognized in other comprehensive income: Interest rate risk - Interest rate swaps and bond forward contracts Effective portion of changes in fair value
(15,660) (49,028)
108,838
Amounts reclassified to net income
(34,294)
Equity risk - Equity swaps
Effective portion of changes in fair value
9,463
(3,835)
Amounts reclassified to net income
(7,093)
2,439
Balance at End of Year
$
33,688 $
96,006
12. OTHER ASSETS
As at October 31 2021
As at October 31 2020
Accrued interest receivable
$
74,954 $
71,810 67,876 49,578 12,229 12,359
Accounts receivable Deferred tax assets Income tax receivable
53,156 50,772 47,768 14,055 13,879 13,310 19,350
(Note 21)
Prepaid expenses Financing costs (1)
8,455
Derivative collateral receivable
-
(Note 27)
Other
29,216
Total
$
287,244 $
251,523
(1) Amortization for the year amounted to $3,835 (2020 – $3,103).
13. DEPOSITS
Deposits are accounted for on an amortized cost basis. Costs relating to the issuance of fixed term deposits are amortized over the expected life of the deposit using the effective interest method.
As at October 31, 2021
Business and Government
Individuals
Total
Payable on demand Payable after notice Payable on a fixed date
$
41,271 $
1,310,964 $
1,352,235
7,274,688 7,882,861
5,838,025 7,627,930
13,112,713 15,510,791
Total
$
15,198,820 $
14,776,919 $
29,975,739
As at October 31, 2020
Business and Government
Individuals
Total
Payable on demand Payable after notice Payable on a fixed date
$
35,520 $
949,514 $
985,034
6,128,753 9,497,047
4,399,327 6,300,193
10,528,080 15,797,240
Total
$
15,661,320 $
11,649,034 $
27,310,354
A summary of all outstanding deposits payable on a fixed date, by contractual maturity date, follows:
As at October 31 2021
As at October 31 2020
Within 1 year
$
7,054,012 $
8,068,489
1 to 2 years
3,928,322
3,366,283
2 to 3 years
2,261,152
2,583,480
3 to 4 years
1,111,274
1,071,237
4 to 5 years
652,183
707,751
More than 5 years
503,848
-
Total
$
15,510,791 $
15,797,240
CWB Financial Group 2021 Annual Report | 95
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