Q: Good morning 5i team
TD's Oct. 10 news release regarding reaching a resolution of Anti-Money Laundering issues with US regulators stated, among other things that
"The total assets of TD's two U.S. banking subsidiaries (TD Bank, NA and TD Bank USA, NA) ("US Bank") cannot exceed US$434 billion (total assets as at September 30, 2024)"
I could not see any reference to how long this limitation applies. Does 5i know how long the limitation is to be in place?
What is 5i's view of the impact of this restriction on TD's ability to grow its overall company, broadly speaking, over the next few years?
Thank you
Thank you
TD's Oct. 10 news release regarding reaching a resolution of Anti-Money Laundering issues with US regulators stated, among other things that
"The total assets of TD's two U.S. banking subsidiaries (TD Bank, NA and TD Bank USA, NA) ("US Bank") cannot exceed US$434 billion (total assets as at September 30, 2024)"
I could not see any reference to how long this limitation applies. Does 5i know how long the limitation is to be in place?
What is 5i's view of the impact of this restriction on TD's ability to grow its overall company, broadly speaking, over the next few years?
Thank you
Thank you
5i Research Answer:
It is still unclear when the cap will be lifted, and the upper asset limit could be lowered...