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40 <br />(b) Loan substmstd <br />Loan substitutts are securities which have <br />been structured as after-tax instruments <br />rather than conventional loans to order <br />to provide the Issuers with a borrowing <br />race advantage. and are tdent,ul in risk <br />Term preferred shares' <br />Income debentures' <br />Small busmen development bonds <br />and small business bonds <br />'Drf tied .s 1— nrretred snares enu <br />("O''lun <br />He, nN a IIJen <br />Ni <br />4, 'N from the ewer "r'n'_ t3 <br />and security to bank loans of comparable <br />term. These securities less any provisions <br />established to recognize anticipated credit <br />losses. are tn,juded to the following care. <br />¢ones <br />1986 1985 1984 <br />31.0'1.8'6 31.263.168 31.02x.856 <br />24.743 44.'57 51.591 <br />111.34' 188.772 244.126 <br />31.2n7.966 11.496.69' 31.320.673 <br />i�un ��1n t Cr�rlle Cntemt�. �• . <br />�1N3 p.rrW ril` N, <br />19u�tsna •4•.r ine uses. A. <br />to Estimated market value of securities at year end <br />Securities issued or guaranteed by Canada. <br />the provinces and Canadian municipalities <br />Securities of l' 5 Tteasury and other U S. <br />government agencies and corporations <br />Securities of Sates of the L• 5 and pulit"I <br />subdtvtswm thereof <br />Other securities <br />Total <br />Total book value <br />Where the market value of a security is not <br />readily determinable. the book value has <br />been used. Other stcuntia Include the <br />book value of the Bank s interest in Toronto' <br />Dominion Centre (50¢ ). Toronto Eaton <br />Centre ;_5011 and PauGc Centre 135' -%I_ <br />S Loans net of unearned income <br />and provision for loan losses <br />Domestic <br />Personal <br />Resident, at mortgages <br />Service. tlnanual, retail and wholesale trade <br />Manufacturing and industrial <br />Cunstructiun and real estate <br />All other loans <br />International <br />Deductpruvttion fur !oat, iwses <br />Provision for loan losses <br />Balance it beginning of vear <br />Balance Irom uqusred subsldlary <br />Write-offs agalost the pruvsvun <br />Reversals of provisions no longer required <br />New provolons <br />Balance at end of vear <br />1986 1985 1984 <br />SIASS.9S5 $1.981.399 $2.191.307 <br />23.296 66.092 139.081 <br />BSO 1.495 1.665 <br />4.159.813 3.780.261 2.767.211 <br />35.369.914 35.8 $5-0 <br />35.296.999 $5ta�367 <br />earalrara <br />whete, to the view of mansgement, the <br />,urrent market v Ilue of the underlying <br />assets represents . substantial multiple of <br />the recorded bo- value of 39,6 million <br />11985-36 2 mtG1»n. 1984-15 million) <br />1986 1985 1984 <br />3 4."9.505 3 4.402.598 3 3.7"4.056 <br />066.821 5.5"9.285 4.949.368 <br />5.214.150 4.210.638 4,139.96- <br />4.4 58.464 <br />.139.96'4,458.464 4.558.305 4.511,040 <br />1.959.841 1,830.301 1.56' 81' <br />2.699. 1 ' 1 3.806.905 2.665.841 <br />26,151,9S2 23.38'.928 21,608.089 <br />12.608.'89 l;.}95.12 12.33',408 <br />58•166.'41 ;(,.'91.055 13,945.49' <br />'01.22' 4'6.952 31" 495 <br />538.065.514316® S;;,568.002 <br />1986 1985 1984 <br />5 4"6.852 $ t" 495 3 330-68- <br />- 8,692 — <br />1 1.325) 187671) 1123.5;91 <br />t 47.169) 146.'1,81 154.5851 <br />342.869 '-25.074 224.9;0 <br />3 01.22' 3® 3® <br />spa+• <br />A•18 <br />