TD Bank Group Newsroom
TD Bank Financial Group states its position on the Pan-Canadian Investors Committee Proposal
TORONTO, Dec. 17 /CNW/ - TD Bank Financial Group (TDBFG) today reiterated that it is willing to consider measures that support the orderly resolution of the situation covered under what has been called the Montreal Accord. "TD is willing to consider measures that support attempts to resolve liquidity issues in the financial markets. However, our position has been that it would not be in the best interest of TD shareholders to assume incremental risk for activities in which we were not involved," said Ed Clark, President and CEO, TD Bank Financial Group. Following on comments made during its third and fourth quarter of 2007 earnings conference calls, TD Bank Financial Group further reiterated that it does not have any exposure to non-bank sponsored Asset Backed Commercial Paper (ABCP) products covered by the Montreal Accord. This includes holdings within TD Mutual Funds and other money market funds managed by TD Asset Management Inc. TD also noted that it did not distribute any related products to customers through its systems. The Bank noted that markets for TDBFG-sponsored asset backed commercial paper (ABCP) have continued to perform satisfactorily. About TD Bank Financial Group The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Group serves more than 14 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking through TD Banknorth; and Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks among the world's leading on-line financial services firms, with more than 4.5 million on-line customers. TD Bank Financial Group had CDN$422 billion in assets as of October 31, 2007. The Toronto-Dominion Bank trades on the Toronto and New York Stock Exchanges under the symbol "TD", as well as on the Tokyo Stock Exchange.
For further information: Simon Townsend, Senior Manager, Corporate Communications, (416) 944-7161; Kelly Milroy, AVP, Investor Relations, (416) 944-5422
Get News Alerts by Email
Receive breaking news from TD Bank Group directly to your inbox.