Wholesale Banking - Positioned for Growth
Endnotes on Slides 8-9
TD
Slide 8
1. Based on total assets. Source: SNL Financial, Top 50 US banks and Thrifts in the U.S.
2. Investor Economics | A division of ISS Market Intelligence. "Retail Brokerage and Distribution Report - Canada" (Summer 2023). Online
brokerage rankings as of June 2023.
3. Investor Economics | A division of ISS Market Intelligence. "Managed Money Advisory Service-Canada" (Fall 2023). Assets under management
(AUM) as of June 2023.
4. Rankings based on data available from OSFI, Insurers, Insurance Bureau of Canada, and Provincial Regulators as at July 2023.
5. Rankings based on data available from OSFI, Insurers, Insurance Bureau of Canada, and Provincial Regulators as at July 2023.
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8.
For the purpose of calculating contribution by each business segment, earnings from the Corporate segment are excluded. Numbers may not
add to 100% due to rounding.
For financial reporting purposes, the Bank's share of Schwab's earnings is part of the U.S. Retail business segment, but it is shown separately
here for illustrative purposes.
On October 6, 2020, the Bank acquired an approximately 13.5% stake in Schwab following the completion of Schwab's acquisition of TD
Ameritrade Holding Corporation of which the Bank was a major shareholder. On August 1, 2022, the Bank sold 28.4 million non-voting common
shares of Schwab, which reduced the Bank's ownership interest in Schwab to approximately 12.0%. For further details, refer to "How the Bank
reports" in the "How We Performed" section of the Bank's 2023 MD&A. The Bank's share of Schwab's earnings is reported with a one-month lag
and the Bank started recording its share of Schwab's earnings on this basis in the first quarter of fiscal 2021.
Slide 9
1. Primary dealers serve as trading counterparties of the New York Fed in its implementation of monetary policy. For more information, please visit
https://www.newyorkfed.org/.
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