Currently, TD Bank’s IDA deposits stand at $103 billion.
TD Bank, a major shareholder of TD Ameritrade, has entered into a new Stockholders' Agreement, and a revised and extended Insured Deposit Account (IDA) agreement with Schwab.Īccording to the newly-framed IDA agreement, IDA deposits might be reduced at Schwab's discretion by $10 billion a year, starting in July 2021, with a floor value of $50 billion. This follows the recent announcement of an all-stock acquisition of TD Ameritrade Holding ( AMTD Quick Quote AMTD - Free Report) by Charles Schwab ( SCHW Quick Quote SCHW - Free Report). The rating action was due to Moody's unchanged credit assessment for TD Bank. Shares of TD Bank have gained 16.6% so far this year, outperforming 3.8% growth recorded by the industry. Notably, Moody’s has affirmed the short-term and long-term debt and deposit ratings, the issuer ratings, the Counterparty Risk Ratings, the Counterparty Risk Assessments and standalone baseline credit assessments (BCAs). Also, the ratings outlook has remained stable.
The Toronto-Dominion Bank ( TD Quick Quote TD - Free Report) and its affiliates, including TD Group US Holdings LLC’s ratings have been affirmed by Moody’s Investors Service, the rating division of Moody’s Corp.
