TD Bank closes on TLAC target
Lender sold four bail-in bonds last quarter, boosting its TLAC ratio to 18.9%
A series of bail-in bond issuances helped TD Bank shrink the gap between its current and target total loss-absorbing capacity (TLAC) ratios over the three months to end-July.
The Canadian bank reported TLAC-eligible debt and capital of C$86 billion ($64.7 billion), up 10% on end-April and 22% on end-January. Total capital made up 85.3% of this total, and external TLAC debt the remaining 14.7%.
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