TD plots another $10-billion buyback as capital piles up
What it means for the broker channel
Capital returned to shareholders is capital not deployed into new lending, though TD’s balance sheet is large enough that both can coexist simultaneously.
TD also indicated in late September that it is working to narrow pricing disparities between its broker and branch mortgage channels, a development worth tracking alongside the bank’s concurrent decision to raise fixed rates as five-year bond yields climbed above 3.70%.
Together, the moves suggest TD is in margin optimisation mode rather than volume growth mode for now.
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