Toronto-Dominion Becomes Biggest Bank Short With $3.7 Billion on the Line | Page 2 | General financial discussion | Discussion forum

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Toronto-Dominion Becomes Biggest Bank Short With $3.7 Billion on the Line
May 3, 2023
12:29 pm
savemoresaveoften
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Norman1 said
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.
 

Exactly, with rates going so much higher past 12 months, a depositor has to be super dumb or live under a rock to continue to keep their cash in a non-interest bearing deposits....

It did mean the banks' ride of free funding is over.

May 4, 2023
8:06 am
Norman1
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Not much of a free ride for the banks.

Those demand deposits, interest paying or not, are not really a big source of funding for the deposit taking financial institutions. It's not like they can lend the demand deposits out as two or three year loans. There would be a serious problem if that was done and those demand depositors need the money back before the loans have to be repaid at the end of term.

May 4, 2023
10:11 am
COIN
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Heard this morning that TD is walking away from buying a U.S. regional bank.

The regional U.S. banks are now toxic.

May 4, 2023
12:55 pm
HermanH
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Walking away, after paying a $200M penalty. Cheap at twice the price. Looks like TD dodged a bullet.

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