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SECURITIZATION OF FINANCING RECEIVABLES (Tables)
 12 Months Ended
Oct. 31, 2016
SECURITIZATION OF FINANCING RECEIVABLES  
Unconsolidated Conduits, Carrying Amount of Liabilities Compared to Maximum Exposure to Loss

The company’s carrying amount of the liabilities to the unconsolidated conduits, compared to the maximum exposure to loss related to these conduits, which would only be incurred in the event of a complete loss on the restricted assets, was as follows at October 31 in millions of dollars:

 

 

 

 

 

 

 

    

2016

 

Carrying value of liabilities

 

$
1,729

 

Maximum exposure to loss

 

 
1,861

 

 

Components of Consolidated Restricted Assets, Secured Borrowings and Other Liabilities Related to Securitization Transactions

The components of consolidated restricted assets related to secured borrowings in securitization transactions at October 31 were as follows in millions of dollars:

 

 

 

 

 

 

 

 

 

 

    

    2016    

    

    2015    

 

Financing receivables securitized (retail notes)

 

$
5,141

 

$
4,848

 

Allowance for credit losses

 

 
(14)

 

 
(13)

 

Other assets

 

 
115

 

 
109

 

Total restricted securitized assets

 

$
5,242

 

$
4,944

 

 

The components of consolidated secured borrowings and other liabilities related to securitizations at October 31 were as follows in millions of dollars:

 

 

 

 

 

 

 

 

 

 

    

    2016    

    

    2015    

 

Short-term securitization borrowings

 

$
5,003

 

$
4,590

 

Accrued interest on borrowings

 

 
2

 

 
2

 

Total liabilities related to restricted securitized assets

 

$
5,005

 

$
4,592