US unit of TD Group close to a VAR breach in Q3 

Largest loss-to-VAR ratio at the firm was highest among 10 US intermediate holding companies

Trading losses at the US unit of TD Group came close to exceeding its value-at-risk estimate in the third quarter, after the highest losses-to-VAR ratio reached 94.66%.

Banks must disclose their three largest trading losses each quarter as a percentage of VAR. If losses exceed 100% of VAR, the bank incurs a breach.

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The second- and third-largest trading losses at TD Group US reached 74.92% and 64.74%, respectively. This compared with losses-to-VAR ratios of 73.12%, 65.97% and 62.25% in

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