Fair Value Hierarchy We categorize our fair value measurements of financial instruments according to a three-level hierarchy. Level 1 fair value measurements reflect unadjusted quoted prices in active markets for identical assets and liabilities that we can access at the measurement date. Level 2 fair value measurements are estimated using observable inputs, including quoted market prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, and model inputs that are either observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 fair value measurements are determined using one or more inputs that are unobservable and significant to the fair value of the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available at the measurement date.
Valuation Technique
As at October 31, 2022
Fair Value
Level 1
Level 2
Level 3
Financial Assets Cash resources
$
115,979 $
115,979 $
- $
- -
Securities
4,518,795
1,003,840
3,514,955
Loans
35,478,626
- -
-
35,478,626
Derivatives
110,521
110,521
-
Total Financial Assets
$
40,223,921 $
1,119,819 $
3,625,476 $
35,478,626
Financial Liabilities Deposits
$
32,414,786 $
- $
32,414,786 $
- - - -
Securities sold under repurchase agreements
247,354
- - -
247,354
Debt
3,417,350
3,417,350
Derivatives
156,081
156,081
Total Financial Liabilities
$
36,235,571 $
- $
36,235,571 $
-
Valuation Technique
As at October 31, 2021
Fair Value
Level 1
Level 2
Level 3
Financial Assets Cash resources
$
128,459 $
128,459 $
- $
- - -
Securities
3,573,878
207,209
3,366,669
Securities purchased under resale agreements
30,048
- - -
30,048
Loans
33,138,017
-
33,138,017
Derivatives
52,862
52,862
-
Total Financial Assets
$
36,923,264 $
335,668 $
3,449,579 $
33,138,017
Financial Liabilities Deposits
$
30,118,635 $
- $
30,118,635 $
- - -
Debt
3,058,090
- -
3,058,090
Derivatives
36,068
36,068
Total Financial Liabilities
$
33,212,793 $
- $
33,212,793 $
-
106 | CWB Financial Group 2022 Annual Report
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