CWBFG Annual Report 2023

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

2023

2022

Balance at beginning of year

$

(21,672)

$

33,688

Amounts recognized in other comprehensive income, net of tax: Interest rate risk - Interest rate swaps and bond forward contracts Effective portion of changes in fair value

(57,959)

(30,957) (20,744)

Amounts reclassified to net income

32,904

Equity risk - Equity swaps

Effective portion of changes in fair value

2,901

(7,895)

Amounts reclassified to net income

(601)

4,236

Balance at End of Year

$

(44,427)

$

(21,672)

11. OTHER ASSETS

As at October 31 2023

As at October 31 2022

Accounts receivable

$

51,006 $

135,840 116,281 72,810 42,248 31,669 17,647

Accrued interest receivable

146,290 115,380

Derivative collateral receivable

(Note 25)

Deferred tax assets

41,492

(Note 19)

Income tax receivable

4,640

(Note 19)

Prepaid expenses

19,289

Financing costs

119

999

Other

3,782

5,311

Total

$

381,998 $

422,805

12. 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, 2023

Business and Government

Individuals

Total

Payable on demand Payable after notice Payable on a fixed date

$

30,380

$

980,924 $

1,011,304

6,616,801

6,139,026 6,434,601

12,755,827 19,561,318

13,126,717

Total

$

19,773,898

$

13,554,551 $ 33,328,449

As at October 31, 2022

Business and Government

Individuals

Total

Payable on demand Payable after notice Payable on a fixed date

$

35,688

$

1,314,615 $

1,350,303

6,654,784

6,456,577 8,057,699

13,111,361 18,548,798

10,491,099

Total

$

17,181,571

$

15,828,891 $ 33,010,462

A summary of all outstanding deposits payable on a fixed date, by contractual maturity date, follows:

As at October 31 2023

As at October 31 2022

Within 1 year

$

9,457,625

$

8,378,041

1 to 2 years

3,792,308

5,006,300

2 to 3 years

2,460,089

2,440,222

3 to 4 years

1,750,918

852,884

4 to 5 years

1,905,103

1,305,872

More than 5 years

195,275

565,479

Total

$

19,561,318

$ 18,548,798

90 | CWB Financial Group 2023 Annual Report

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