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
: I want to ask, Ajai, a couple of questions here on the credit stuff. First, $2.2 billion of provisions, about 60% of that is performing provisions. Wondering
if you can maybe ballpark. How much of the performing was due to model adjustments? And how much was due to management overlay or
whatever we call it these days?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: Over the past 2 quarters, so NAV about the same, no difference in the skew this quarter?
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Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: Got you. And then wondering if you can quantify this for me. And you talked about what conditions need to arise for you to make adjustments to
your ACL. Just wondering, what would your ACL look like? Or what kind of increase are we talking about if you were to shift 100% to the pessimistic
scenario?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: Okay. So your weighting on the downside is greater than you're weighting on the base case?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: Two quickies. One, if I can just maybe ask Ajai. Maybe it's a bit of a redundant question, but is -- in past calls, you've kind of reminded us that there
is a seasonality in the provisioning levels with the cards partnership. And that tends to kind of have historically had spikes kind of towards the
Christmas time frame and coming out of it, so Q4 and Q1.
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Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: Okay. And maybe a quick question for -- maybe not so quick, I don't know, for Bob. Bob, obviously, having the diversification benefits of your
segment was quite helpful this quarter. I wonder if you could just paint us a picture of where you think you can take the business from here and
what sort of additional resources you may need, both people, call it, expenses and capital or balance sheet type resources and what sort of
expectations you want to set for us for the next, call it, couple of years.
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: I forgot how to retract my question. I don't need to ask anything.
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: Just wanted to get on the record.
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