The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: Okay. Now I've got one question, I'll do my big picture one. Dave, you had some comments the other day in the paper about the
under-tapped potential of a resource economy and framing it in a broad context of Canada's economy. I'm wondering if you could
tie that back to your business so we can guess what the impact is of weak energy activity on the Capital Markets business. But more
on the PNC business, like how was that, I guess, weak market backdrop for the energy industry affecting your retail business? I mean,
if I want to play devil's advocate, I'd say, you're still growing quite well in PNC. Is it really that big of an issue?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: No big credit concerns at this stage or -- you sounded a little bit like...
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: Rod, a few quarters ago, you had talked about some of capital being tied up in the underwriting businesses, generally speaking, in
Capital Markets. Any chance you can give an update as to how much basis points of CET1 is still tied up in underwriting activity?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: So nothing material coming from that?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: Just Graeme, when you think about your total PCL outlook in that 25 to 30 basis point range, can you just provide some color as to
what, if any, expectations you have around the impact of Brexit on the lending portfolio of the Capital Markets has out there?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: But would it be something that at some stage would be noticeable in that PCL rate?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: I'll make it quick. The leverage loan balance you gave, the $10.7 billion. How do you classify that in your wholesale loan book --
breakdown in the industries? Is it in a specific category? Or does it go by industry?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: Okay. Because there's one category, investments. But I was wondering if that one's not -- what is in that any way?
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