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40 <br />The provision for income taxes shown In the <br />Consolidated statement of income is less then <br />that obtained by applying statutory tax rates <br />Canadian statutory income tax late <br />Decre see restslskig has <br />Tu exempt dierieleoda hom tuable <br />Canadian eorporaeiau <br />Tax exempt interest on income debentures <br />and small business development bonds <br />Gains from sale of securities nor <br />subject to full Canadian tax <br />Income from foreign subsidiaries not subject <br />to Canadian tax. net of non -Canadian taxes <br />payable by foreign subsidiaries <br />Other - net <br />Effective income tax rate <br />The recovery of income taxes shown to the <br />retained earnings section of the Consolidated <br />statement of changes in shareholders" equity <br />includes an income tax reduction related to <br />3 Deposits with Other Banks <br />Included in deposits with other banks are <br />interest besting deposits of 12.029.482 <br />(1985-S5.392.837. 1984 -1 i.5 36.2 30) <br />to the net income before provision for <br />income tarts for the following reasons: <br />1986 1965 1984 <br />51.0% 49.7% 49.2% <br />(12.3) (11.1) (11.8) <br />11.1) (1.5) (2.7) <br />(2.1) (0.6) (0.4) <br />12.5) (2 6) (2.6) <br />— 11.4) (0.4) <br />33"0% 32.5% 313% <br />+ter rass�aso <br />the transfer from retained earmny to the <br />appropriations for contingencies for the year <br />which. for income tax purposes. is deduct. <br />ible to the current year or to future years. <br />and federal funds told of Wil (1985- $55: <br />1984-$4.259). <br />UI Securities maturity schedule at year end <br />tier 1 <br />Over 1 <br />Over 5 <br />• -- <br />No <br />Within <br />1. <br />to <br />rn <br />0ver10 <br />speuhc <br />1986 <br />04% <br />;984 <br />wrl6e.r oaall.rm <br />l year <br />I rn <br />5 tis <br />IOrn <br />wean <br />muunry <br />TuW <br />Tru <br />U,ul <br />Securities issued or guaranteed by. <br />_ <br />Canada <br />1 9107 <br />1 911 <br />1489 <br />1 149 <br />1 - 1 <br />- <br />$1.066.0 $1 <br />t+l <br />$1'159 <br />Pr,.unces <br />09 <br />2% 9 <br />22 S <br />4 3 <br />0 1 <br />65 2 <br />116.8 <br />"' + <br />sf's I <br />Other debt securities <br />Securities of Mum—pal Corpurumns <br />2 _' <br />o6 <br />0 8 <br />i 1 <br />- <br />- <br />69 <br />_ <br />9 2 <br />In,ume debentures <br />Flwtmg rue <br />08 <br />5 4 <br />- <br />- <br />- <br />- <br />6 2 <br />Fixed rate <br />15 <br />1-1 <br />- <br />- <br />- <br />- <br />186 <br />Small business development bands <br />and small business bunds <br />82 6 <br />11 5 <br />1; 2 <br />- <br />- <br />- <br />11 1 3 <br />•• <br />2 t4 2 <br />x11,of rather Can,Jun issuers <br />i 4 <br />_'0 2 <br />__ 2 <br />5 4 <br />9; 1 <br />- <br />Srs urines ul ❑suers other <br />than Canadian <br />�esuntics of the L S Treasury and <br />other C S gusernment agenues <br />and corporations <br />1 4 <br />2 + <br />- <br />- <br />:8' <br />- <br />.: t` <br />l •9 1 <br />)ewnties of states of the U S and <br />political subdivisions thereof <br />- <br />0 4 <br />0 4 <br />0 1 <br />- <br />- <br />Other <br />12; 6 <br />142 0 <br />'t, t <br />118 5 <br />2' 0 <br />- <br />46' 4 <br />--� <br />- <br />Equity securities <br />Term preferred shares <br />Floating rue <br />Li" 8 <br />408 9 <br />64' 4 <br />69 3 <br />18 4 <br />- <br />1.191 8 <br />2 s s 6 <br />FFxed rate <br />5 ' <br />- 1 <br />29 _' <br />- <br />_' 4 <br />- <br />64 6 <br />Taral fixed term securities <br />1.280 6 <br />'S5 1 <br />840 9 <br />215 8 <br />149 - <br />65 2 <br />3.30' 3 <br />9 <br />Assocuarad corporations <br />0 8 <br />1 5 <br />1 5 <br />2 4 <br />- <br />11 ' <br />1' 9 <br />: J 9 <br />Preterred shares -other <br />- <br />- <br />- <br />- <br />- <br />5 15 1 <br />5151 <br />0'', <br />Common shares <br />- <br />- <br />- <br />- <br />- <br />41' 2 <br />41'.2 <br />s <br />Total investment securities <br />1.281 4 <br />'56 6 <br />442 4 <br />218 2 <br />149.' <br />1.009 2 <br />4.2S' 5 <br />Trading secunues <br />949 1 <br />14 2 <br />1 i 1 <br />22 0 <br />40.0 <br />0 9 <br />1.039 S <br />4.1 n <br />Total securities <br />$2.2;0 5 <br />8"08 <br />$855' <br />easstr�� <br />$240 2 <br />�� <br />$189 7 11.010 t <br />rrraa— rat. <br />85.29'.0 11 '^' + <br />� rrrrrra.r <br />3` 11' 4 <br />Percentage <br />sae <br />42 I <br />visit® <br />14 StE <br />4 5"f <br />t 61i <br />W 1'i <br />100.09E <br />® <br />sala�sss� <br />® <br />es® <br />®tear <br />�® <br />taaasaaa® <br />A•17 <br />