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Email this6:49 pm
December 12, 2021
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Toronto-Dominion Becomes Biggest Bank Short With $3.7 Billion on the Line
8:31 am
December 20, 2019
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ehmmmmm
Trust me, there is also another reason people are pulling money out of TD.
If you are in the know you are pulling money out and it's for another reason that TD brought on themselves.
8:51 am
April 14, 2021
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KamWest said
If you are in the know you are pulling money out and it's for another reason that TD brought on themselves.
Okay, I'll bite. What do the rest of us great unwashed not know about TD and why deposits are being withdrawn?
8:55 am
December 20, 2019
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HermanH said
Okay, I'll bite. What do the rest of us great unwashed not know about TD and why deposits are being withdrawn?
You would have received a letter or an email but a lot of people would not have given it a second look.
The people in the know with money simply went transferred their cash out of TD and as far as I know that is still happening.
I'll hang off on the big reveal because I'm positive there are other "in the know" members here.
9:18 am
April 14, 2021
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How about posting the message so that the rest of us (who may not bank with TD) have a chance to play and try to figure it out?
9:43 am
December 20, 2019
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Here is a Twitter feed where you can do some research
https://twitter.com/search?q=td%20digital%20id&src=typed_query
9:44 am
March 30, 2017
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agit said
Toronto-Dominion Becomes Biggest Bank Short With $3.7 Billion on the Line
Means nothing. Short sellers routinely target cad banks, citing mortgage books issue. It had happened at least a couple of times in the past few years.
In terms of ‘people in the know’ pulling deposits, I don’t know what that news is that make it so secretive. Either way, it’s good for media headline to draw attention and nothing else.
Having said that, TD at 4.5% yield is not a bargain either.
11:04 am
January 12, 2019
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.
What Savemoresaveoften said ⬆
It's just another 'Chicken Little' day . . .
- Dean
" Live Long, Healthy ... And Prosper! "
11:17 am
April 6, 2013
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Dean said
.
What Savemoresaveoften said ⬆It's just another 'Chicken Little' day . . .
…
That's right.
TD is updating one of its agreements to formally allow the Interac Verification service (used to be known as Verify.Me). The service allows one to request TD to vouch for one's identity in online signups for services at non-TD providers.
Somehow, the sky is now falling and TD is now mandating digital ID's. Other banks will surely follow TD!
Of course, when one asks branch staff about this digital ID push no-one seems to know about it. The branch staff don't know about it because there is no such push!
Instead of relying on Twitter, one should have a look at what Verified.Me has to say.
12:01 pm
December 20, 2019
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Yup, people are relying exactly on what TD and Verify me had to say.
Thats exactly why people are moving out, they read the whole terms.
12:06 pm
March 30, 2017
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WTH ! I just wasted 2 mins of my time watching the blonde babbling, and thats what the "insiders" are having "their deposits leaving the bank" ?!
I can bet u the amount of deposits leaving the bank for THAT purpose is not even a rounding error to TD's daily cash balance !
12:30 pm
August 6, 2018
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Just saying...
- The opposite side of every short trade is a long trade.
- TD dropped because it's ex-dividend day. Otherwise it's comparable to other banks today.
- TD's bonds are not yielding more than other banks'.
1:26 pm
January 9, 2011
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Isn't it just the First Horizon (US regional bank) pending acquisition that is causing TD shares to be shorted, and nothing else of consequence?
"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green
2:20 pm
December 25, 2020
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Sounds to me as though someone is trying to stir up a barrel of something!
6:06 pm
January 12, 2019
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dollarbill said
Sounds to me as though someone is trying to stir up a barrel of 'Nothing'!
There ⬆ ... I Fixed It 4 U.
- Dean
" Live Long, Healthy ... And Prosper! "
5:48 pm
December 12, 2009
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dougjp said
Isn't it just the First Horizon (US regional bank) pending acquisition that is causing TD shares to be shorted, and nothing else of consequence?
That is more likely the reason for the elevated short interest in TD, yes. That and their existing regional bank deposit exposure.
It's perhaps counterintuitive and ironic, though, because the First Horizon acquisition will actually catapult TD to being the sixth-largest U.S. bank. So not only will they be Canada's second largest bank, by assets and/or deposits, they'll be the sixth-largest in the U.S. The next largest Canadian bank in the U.S. will be BMO, at 23rd.
In my personal view, RBC probably has the most SVB-like U.S. banking franchise, primarily catering to ultra high net worth elites in Hollywood (instead of the Bay Area). CIBC is the next most, catering primarily to high net worth business accounts in the midwest.
Cheers,
Doug
6:47 pm
December 12, 2021
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https://financialpost.com/fp-finance/banking/crisis-hits-canadian-bank-deposits-us-td-worst
Crisis hits Canadian banks' deposits in U.S. with TD faring the worst, filings show
7:33 pm
March 15, 2019
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The SVB contagion.
10:32 am
April 6, 2013
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Just noise.
The "steepest declines were recorded in non-interest-bearing deposits." Losing some chequing account deposits is not important. Just less money to park.
What's important is the "U.S. filings also showed that loan growth across the Canadian banks managed to hold steady at an average of 11 per cent year over year, up one per cent from the previous quarter." Loans are where banks make their money.
11:05 am
April 27, 2017
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The question is “what is the next domino to fall”?
As long as uninsured deposits are generating fear during this round of QT, reduction in deposits increases risks. These numbers could generate a lot of unwelcome interest in a bank with most withdrawals and become a self-fulfilling prophecy.
Please write your comments in the forum.