TD Bank next to collapse? Discuss.

[mr2mike]

TD bank just fined by Fintrac for $9.2M on questionable transactions that went unreported. Tip of the ice berg as in the USA, TD bank has been under investigation allowing a single person to launder $650M worth of fentanyl money through them with massive fines looming.
This cannot be the only case with this bank allowing Chinese money laundering to happen.
People estimating fines to be over $1B when it's done along with restrictions on their business eroding them to continue to build their business for years.
Add in that there is $6.1B worth of short interest on their stock and growing.

I can see this dropping one of Canada's biggest banks.
How many mortgages do they hold as well?

[cycosis]

So what happens to the mortgage holders if they do go?

[Twin_Cam_Turbo]

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So what happens to the mortgage holders if they do go?

Their mortgage gets sold to another bank.

[killramos]

You think Justin is going to let a bank fail?

[ExtraSlow]

[suntan]

TD has $371b in cash.

[89coupe]

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TD has $371b in cash.

I was about to say lol

[vengie]

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TD has $371b in cash.

"Cash"

[ZenOps]

They have a 14 month GIC @ 5%, which makes me think they aren't desperate for money either way.

[ExtraSlow]

[killramos]

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"Cash"

lol no kidding. Cash against what liabilities?

Too lazy to go pull real numbers but they seem have PLENTY of debt. 400 billion of it.

[mr2mike]

Reddit history shows guys were horny on td shorts years ago. Now short $ is more than doubled.
Other side said, too big to fail without much to back it up.

This story ends with USA gov't fines and Cdn gov't propping them up?

[max_boost]

No way omg
TD bank is the best bank
This gonna be cwazy cupcakes

[pheoxs]

Zero chance Canada lets any of its oligopolies fall. Even if TD fell apart they’d just get a bailout of some sorts.

[ExtraSlow]

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lol no kidding. Cash against what liabilities?]

Woah slow down there Mr Quant.

[suntan]

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lol no kidding. Cash against what liabilities?

Too lazy to go pull real numbers but they seem have PLENTY of debt. 400 billion of it.

Yes that's right, they have no other assets.

How the hell do you have an MBA and not know what a bank's liabilities are?

[mr2mike]

From a G&M Dec 23 article. TD's top management have almost all departed through the pandemic and into 2023.

Succession planning turned messy in late 2021 when the bank abruptly parted ways with its Canadian and U.S. banking heads, right as Mr. Masrani was entering the third act of his tenure. And Norie Campbell, technically the bank’s general counsel, but more importantly a beloved figured internally who oversaw TD’s corporate citizenship, public affairs and environment, social and governance strategy, decided to leave in early 2022, and no one really understood why.

[ThePenIsMightier]

If their stock took a big dive, I'd buy the shit out of it.

[killramos]

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Yes that's right, they have no other assets.

How the hell do you have an MBA and not know what a bank's liabilities are?

I guess it wasn’t obvious, but I was making fun of you quoting a cash number that is entirely offset by debt.

No worries though, I’ll check the shareholder agreement here later.

[Buster]

Bank financials and balance sheets can't be analysed in quite the same way as other businesses.