The Financial Stability Board (FSB) has published the 2019 list of global systemically important banks (G-SIBs).
The FSB added Toronto Dominion Bank (TD) to the list of G-SIBs, making the overall number of G-SIBs increase from 29 to 30.
TD’s regulator, Office of the Superintendent of Financial Institutions (OSFI), is reported to have confirmed that TD is already subject to its framework for domestic systemically important banks.
As such, OSFI believes that TD is well-positioned to meet the G-SIB requirements starting in November 2020.
The G-SIB designation and subsequent increased regulatory expectations are designed to reduce the likelihood of a failure and the potential impact that a failure would have on the global economy.
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