TORONTO, June 28, 2017 /CNW/ - The Board of Governors of
the Federal Reserve System (Fed) today announced 2017 Comprehensive
Capital Analysis and Review (CCAR) results. The Fed did not object
to the capital plan submitted for TD Group US Holdings LLC (TDGUS),
TD Bank Group's top-tier bank holding company in the US.This
positive result reflects the strength of our US business, our
capital position and risk appetite framework.
Caution Regarding Forward-Looking
Statements
From time to time, the Bank (as
defined in this document) makes written and/or oral forward-looking
statements, including in this document, in other filings with
Canadian regulators or the United
States (U.S.) Securities and Exchange Commission (SEC), and
in other communications. In addition, representatives of the Bank
may make forward-looking statements orally to analysts, investors,
the media and others. All such statements are made pursuant to the
"safe harbour" provisions of, and are intended to be
forward-looking statements under, applicable Canadian and U.S.
securities legislation, including the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements include,
but are not limited to, statements made in this document, the
Management's Discussion and Analysis ("2016 MD&A") in the
Bank's 2016 Annual Report under the heading "Economic Summary and
Outlook", for each business segment under headings "Business
Outlook and Focus for 2017", and in other statements regarding the
Bank's objectives and priorities for 2017 and beyond and strategies
to achieve them, the regulatory environment in which the Bank
operates, and the Bank's anticipated financial performance.
Forward-looking statements are typically identified by words such
as "will", "should", "believe", "expect", "anticipate", "intend",
"estimate", "plan", "may", and "could".
By their very nature, these forward-looking statements
require the Bank to make assumptions and are subject to inherent
risks and uncertainties, general and specific. Especially in light
of the uncertainty related to the physical, financial, economic,
political, and regulatory environments, such risks and
uncertainties – many of which are beyond the Bank's control and the
effects of which can be difficult to predict – may cause actual
results to differ materially from the expectations expressed in the
forward-looking statements. Risk factors that could cause,
individually or in the aggregate, such differences include: credit,
market (including equity, commodity, foreign exchange, and interest
rate), liquidity, operational (including technology and
infrastructure), reputational, insurance, strategic, regulatory,
legal, environmental, capital adequacy, and other risks. Examples
of such risk factors include the general business and economic
conditions in the regions in which the Bank operates; the ability
of the Bank to execute on key priorities, including the successful
completion of acquisitions and dispositions, business retention
plans, and strategic plans and to attract, develop and retain key
executives; disruptions in or attacks (including cyber-attacks) on
the Bank's information technology, internet, network access or
other voice or data communications systems or services; the
evolution of various types of fraud or other criminal behaviour to
which the Bank is exposed; the failure of third parties to comply
with their obligations to the Bank or its affiliates, including
relating to the care and control of information; the impact of new
and changes to, or application of, current laws and regulations,
including without limitation tax laws, risk-based capital
guidelines and liquidity regulatory guidance; exposure related to
significant litigation and regulatory matters; increased
competition, including through internet and mobile banking and
non-traditional competitors; changes to the Bank's credit ratings;
changes in currency and interest rates (including the possibility
of negative interest rates); increased funding costs and market
volatility due to market illiquidity and competition for funding;
critical accounting estimates and changes to accounting standards,
policies, and methods used by the Bank; existing and potential
international debt crises; and the occurrence of natural and
unnatural catastrophic events and claims resulting from such
events. The Bank cautions that the preceding list is not exhaustive
of all possible risk factors and other factors could also adversely
affect the Bank's results. For more detailed information, please
refer to the "Risk Factors and Management" section of the 2016
MD&A, as may be updated in subsequently filed quarterly reports
to shareholders and news releases (as applicable) related to any
transactions or events discussed under the heading "Significant
Events" in the relevant MD&A, which applicable releases may be
found on www.td.com. All such factors should be considered
carefully, as well as other uncertainties and potential events, and
the inherent uncertainty of forward-looking statements, when making
decisions with respect to the Bank and the Bank cautions readers
not to place undue reliance on the Bank's forward-looking
statements.
Material economic assumptions underlying the
forward-looking statements contained in this document are set out
in the 2016 MD&A under the headings "Economic Summary and
Outlook", and for each business segment, "Business Outlook and
Focus for 2017", each as may be updated in subsequently filed
quarterly reports to shareholders.
Any forward-looking statements contained in this document
represent the views of management only as of the date hereof and
are presented for the purpose of assisting the Bank's shareholders
and analysts in understanding the Bank's financial position,
objectives and priorities and anticipated financial performance as
at and for the periods ended on the dates presented, and may not be
appropriate for other purposes. The Bank does not undertake to
update any forward-looking statements, whether written or oral,
that may be made from time to time by or on its behalf, except as
required under applicable securities legislation.
About TD Bank Group
The
Toronto-Dominion Bank and its subsidiaries are collectively known
as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank
in North America by branches and
serves more than 25 million customers in three key businesses
operating in a number of locations in financial centres around the
globe: Canadian Retail, including TD Canada Trust, TD Auto Finance
Canada, TD Wealth (Canada), TD
Direct Investing, and TD Insurance; U.S. Retail, including TD Bank,
America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth
(U.S.), and an investment in TD Ameritrade; and Wholesale Banking,
including TD Securities. TD also ranks among the world's leading
online financial services firms, with approximately 11.5 million
active online and mobile customers. TD had CDN$1.3 trillion in assets on April 30, 2017. The Toronto-Dominion Bank trades
under the symbol "TD" on the Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group