Significant Subsidiaries (continued)1 (millions of Canadian dollars)
International
TD Bank International S.A. TD Bank N.V. TD Ireland
TD Global Finance
TD Luxembourg International Holdings TD Ameritrade Holding Corporation3
TD Wealth Holdings (UK) Limited TD Direct Investing (Europe) Limited Thirdco II Limited
TD Asset Administration UK Limited Toronto Dominion Australia Limited Toronto Dominion Investments B.V.
TD Bank Europe Limited
Toronto Dominion Holdings (U.K.) Limited TD Securities Limited
Toronto Dominion (South East Asia) Limited 1
2
Address of Head or Principal Office2
Luxembourg, Luxembourg Amsterdam, The Netherlands Dublin, Ireland
Dublin, Ireland
Luxembourg, Luxembourg Omaha, Nebraska
Leeds, England Leeds, England
Leeds, England Leeds, England
Sydney, Australia London, England
London, England London, England London, England
Singapore, Singapore
Unless otherwise noted, The Toronto-Dominion Bank, either directly or through its subsidiaries, owns 100% of the entity and/or 100% of any issued and outstanding voting securities and non-voting securities of the entities listed.
Each subsidiary is incorporated or organized in the country in which its head or principal office is located, with the exception of Toronto Dominion Investments B.V., a company incorporated in The Netherlands, but with its principal office in the United Kingdom.
SUBSIDIARIES WITH RESTRICTIONS TO TRANSFER FUNDS Certain of the Bank’s subsidiaries have regulatory requirements to fulfill, in accordance with applicable law, in order to transfer funds, including paying dividends to, repaying loans to, or redeeming subordinated debentures issued to, the Bank. These customary
requirements include, but are not limited to: • Local regulatory capital and/or surplus adequacy requirements; • Basel requirements under Pillar 1 and Pillar 2; • Local regulatory approval requirements; and • Local corporate and/or securities laws.
As at October 31, 2016, the net assets of subsidiaries subject to regulatory or capital adequacy requirements was $73.1 billion (October 31, 2015 – $66.2 billion), before intercompany eliminations.
3 Description
International Direct Brokerage Dutch Bank
Holding Company Securities Dealer
Holding Company Securities Dealer
Holding Company Direct Broker
Investment Holding Company Foreign Securities Dealer
Securities Dealer Holding Company
UK Bank
Holding Company Securities Dealer
Foreign Financial Institution 1,310
As at October 31, 2016, the Bank’s reported investment in TD Ameritrade Holding Corporation was 42.38% (October 31, 2015 – 41.54%) of the outstanding shares of TD Ameritrade Holding Corporation. TD Luxembourg International Holdings and its ownership of TD Ameritrade Holding Corporation is included given the significance of the Bank’s investment in TD Ameritrade Holding Corporation.
As at October 31, 2016 Carrying value of shares
owned by the Bank $
43 699 1,056 7,091 139 108 238 1,028
In addition to regulatory requirements outlined above, the Bank may be subject to significant restrictions on its ability to use the assets or settle the liabilities of members of its group. Key contractual restrictions may arise from the provision of collateral to third parties in the normal course of business, for example through secured financing transactions; assets securitized which are not subsequently available for transfer by the Bank; and assets transferred into other consolidated and unconsolidated structured entities. The impact of these restrictions has been disclosed in Notes 9 and 28.
Aside from non-controlling interests disclosed in Note 21, there were no significant restrictions on the ability of the Bank to access or use the assets or settle the liabilities of subsidiaries within the group as a result of protective rights of non-controlling interests.
200 TD BANK GROUP ANNUAL REPORT 2016 FINANCIAL RESULTS
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