TD Bank Financial Group has reiterated that it is willing to consider measures proposed by Pan-Canadian Investors Committee to resolve the asset backed commercial paper (ABCP) crisis. But the bank says it won’t take unnecessary risk.
“TD is willing to consider measures that support attempts to resolve liquidity issues in the financial markets. However, our position has been that it would not be in the best interest of TD shareholders to assume incremental risk for activities in which we were not involved,” said Ed Clark, president and CEO, TD, in a news release.
Following on comments made during its third and fourth quarter of 2007 earnings conference calls, TD Bank further reiterated that it does not have any exposure to non-bank sponsored ABCP products covered by the Montreal Accord.
The bank noted that markets for TD-sponsored asset ABCP “have continued to perform satisfactorily.”
TD to consider proposals on non-bank ABCP
Bank won’t take risk for activities in which it was not involved, Clark says
- By: IE Staff
- December 18, 2007 December 18, 2007
- 08:15
IE Staff