Office of the Superintendent of Financial Institutions
For Immediate Release
OTTAWA ─ November 22, 2019 ─ Office of the Superintendent of Financial Institutions
Today the Financial Stability Board (FSB) added Toronto-Dominion Bank to the list of global systemically important banks (G-SIBs). 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.
TD is already subject to OSFI’s framework for domestic systemically important banks (D-SIBs), and therefore is well positioned to meet the G-SIB requirements starting in November 2020.
The Office of the Superintendent of Financial Institutions Canada (OSFI) is an independent agency of the Government of Canada, established in 1987, to protect depositors, policyholders, financial institution creditors and pension plan members, while allowing financial institutions to compete and take reasonable risks.
OSFI – Public Affairs email@example.com 343-550-9373