TD Bank looking to sell $9 billion of mortgages to meet asset cap, Bloomberg News reports

1 month ago 17

(Reuters) - Toronto-Dominion Bank (TSX:) is aiming to merchantability astir $9 cardinal of residential owe loans successful bid to modify its equilibrium expanse to comply with a caller headdress imposed by the U.S. regulators, Bloomberg News reported connected Tuesday.

This is simply a portion of the plea statement the Canadian lender reached past twelvemonth with the authorities authorities, the study added, citing radical acquainted with the matter.

TD Bank, Canada's 2nd biggest slope and the 10th largest successful the U.S., did not instantly respond to a Reuters petition for comment.

In October 2024, TD Bank became the largest slope successful U.S. past to plead blameworthy to violating a national instrumentality aimed astatine preventing wealth laundering. It agreed to wage implicit $3 cardinal successful penalties to resoluteness the charges.

 TD slope  ATM machines are seen successful  New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon/File Photo

The plea woody included a uncommon imposition of an plus headdress and different concern limitations.

The merchantability portfolio, for which bids are owed adjacent week, includes alleged jumbo mortgages obtained by U.S. homeowners with comparatively precocious recognition scores, the study added.

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