Is TD safe? If their US division gets rekt, how much will it impact the rest of the company?

https://void.cat/d/H7TZqEZEwc6RSfCgji7bau.webp

Image credit: nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx

In terms of size by total assets, they are relatively comparable to other banks that failed - First Republic Bank and SVB.

Financial Post wrote an article a couple of days ago:

"On average, deposits at the four Canadian banks with significant U.S. divisions slipped by three per cent quarter over quarter, according to a May 1 note..."

"Toronto-Dominion Bank was hit the hardest with a quarter-over-quarter drop in deposits at five per cent, driven by an 18 per cent decline in sweep deposits, or accounts that move excess funds between a chequing account to a higher interest-earning account, since last quarter"

Of the Canadian banks with the most at risk, TD seems to be the leading candidate. This does not bode well for the Canadian banking sector.

https://financialpost.com/fp-finance/banking/crisis-hits-canadian-bank-deposits-us-td-worst