search.noResults

search.searching

note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
The Bank continues to explore all opportunities to access lower-cost funding on a sustainable basis. The following table represents the various sources of funding obtained as at October 31, 2016, and October 31, 2015.


T ABLE 63 WHOLESALE FUNDING (millions of Canadian dollars) Less than


Deposits from banks1 Bearer deposit note Certificates of deposit Commercial paper


Asset backed commercial paper2 Covered bonds


Mortgage securitization


Senior unsecured medium term notes Subordinated notes and debentures3 Term asset backed securitization Other4


Total


Of which: Secured


Unsecured Total


1 Includes fixed-term deposits with banks. 1 to 3 1 month months 435


9,109 3,897 – – –


66 – –


1,565 $ – $ 21,218


10,190 8,089 – –


734


2,203 – –


873


3 to 6 6 months Over 1 to months to 1 year


2 years


$ 6,243 $ 4,077 $ 1,986 $ 338


1,626


16,208 5,202 –


4,010 816 512 –


957 105


820 $ 415


18,354 4,223 – –


2,581 7,184 – –


1,004


7 $ –


683 – –


2,298 5,933


16,595 –


2,091 3


Over 2 years Total 2,814


54,544 21,411 –


Total


– $ 13,133 $ 9,902 – – – –


1,678


66,046 15,304 –


22,547 20,342 33,699 10,891 2,421 16


28,855 30,406 60,259 10,891 5,469 3,566


23,719 33,729 53,656 8,637 3,400 1,613


$ 21,218 $ 26,601 $ 31,422 $ 34,581 $ 27,610 $ 89,916 $ 231,348 $ 217,684 25,867


734 $ 5,783 $ 2,581 $ 10,325 $ 45,326 $ 64,749 $ 60,871 25,639


32,000 17,285 44,590 166,599 156,813


$ 21,218 $ 26,601 $ 31,422 $ 34,581 $ 27,610 $ 89,916 $ 231,348 $ 217,684 4


2 Represents ABCP issued by consolidated bank-sponsored structured entities. 3


Subordinated notes and debentures are not considered wholesale funding as they may be raised primarily for capital management purposes.


Excluding the Wholesale Banking mortgage aggregation business, the Bank’s total 2016 mortgage-backed securities issuance was $1.9 billion (2015 – $2.1 billion), and other asset-backed securities was $2.0 billion (2015 – $1.6 billion). The Bank also issued $22.2 billion of unsecured medium-term notes (2015 – $14.8 billion) and $9.1 billion of covered bonds (2015 – $6.5 billion), in various currencies and markets during the year ended October 31, 2016. This includes unsecured medium-term notes and covered bonds issued but settling subsequent to year end.


REGULATORY DEVELOPMENTS CONCERNING LIQUIDITY AND FUNDING


On November 9, 2015, the Financial Stability Board issued the final Total Loss-Absorbing Capacity (TLAC) standard for global systemically important banks (G-SIBs). The TLAC standard defines a minimum requirement for the instruments and liabilities that should be readily available for bail-in in resolution. Separately and on the same day, the Basel Committee on Banking Supervision (BCBS) released a consultative document on TLAC holdings, setting out its proposed prudential treatment of banks’ investments in TLAC. It is applicable to all banks subject to the Basel Committee’s standards, including both G-SIBs and non-G-SIBs. On October 12, 2016, BCBS released the final standard on the regulatory capital treatment of banks’ investments in instruments that comprise TLAC for G-SIBs. The main elements of the final standard include treatments of the deduction of Tier 2 capital, threshold levels and instruments ranking pari passu with subordinated forms of TLAC.


Since TD is not a G-SIB, we do not expect the TLAC requirements


to apply to the Bank. As a Canadian D-SIB, however, TD will be subject to the bail-in law in Canada. On March 22, 2016, the Government of Canada in its 2016 federal budget, proposed to introduce framework legislation for the bail-in regime along with accompanying enhancements to Canada’s bank resolution toolkit. The regime will provide the Canada Deposit Insurance Corporation (CDIC) with a new statutory power to convert specified eligible liabilities of D-SIBs into common shares in the unlikely event such banks become non-viable. On April 20, 2016, the Budget Implementation Act was tabled, providing amendments to the CDIC Act, Bank Act and other statutes to allow for bail-in. TD is monitoring the bail-in developments and expects further details to be included in the regulations and an implementation timeline to be clarified in the near future.


In October 2014, the BCBS released the final standard for “Basel III: the net stable funding ratio.” The Net Stable Funding Ratio (NSFR) requires that the ratio of available stable funding over required stable funding be greater than 100%. The NSFR is designed to reduce structural funding risk by requiring banks to have sufficient stable sources of funding and lower reliance on funding maturing in one year to support their businesses. In June 2015, the BCBS released the final requirements for the “Net Stable Funding Ratio Disclosure Standards”. The standard defines a common public disclosure framework for the NSFR calculated in accordance to the guidelines published by BCBS in October 2014. The NSFR and its public disclosure requirements are expected to become minimum standards by January 2018.


Includes fixed-term deposits from non-bank institutions (unsecured) of $3.5 billion (October 31, 2015 – $1.6 billion).


As at


October 31 October 31 2016


2015


98 TD BANK GROUP ANNUAL REPORT 2016 MANAGEMENT’S DISCUSSION AND ANALYSIS


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150  |  Page 151  |  Page 152  |  Page 153  |  Page 154  |  Page 155  |  Page 156  |  Page 157  |  Page 158  |  Page 159  |  Page 160  |  Page 161  |  Page 162  |  Page 163  |  Page 164  |  Page 165  |  Page 166  |  Page 167  |  Page 168  |  Page 169  |  Page 170  |  Page 171  |  Page 172  |  Page 173  |  Page 174  |  Page 175  |  Page 176  |  Page 177  |  Page 178  |  Page 179  |  Page 180  |  Page 181  |  Page 182  |  Page 183  |  Page 184  |  Page 185  |  Page 186  |  Page 187  |  Page 188  |  Page 189  |  Page 190  |  Page 191  |  Page 192  |  Page 193  |  Page 194  |  Page 195  |  Page 196  |  Page 197  |  Page 198  |  Page 199  |  Page 200  |  Page 201  |  Page 202  |  Page 203  |  Page 204  |  Page 205  |  Page 206  |  Page 207  |  Page 208  |  Page 209  |  Page 210  |  Page 211  |  Page 212