TD Bank’s op risk charges spike amid anti-money laundering probe
Record-high RWAs push bank’s core ratio to its lowest in four years
Operational risk hit a record high at TD Bank in the three months to end July, partly driven by a provision set aside in the previous quarter related to ongoing investigations into the bank’s anti-money laundering (AML) programme.
As of July 31, TD Bank’s operational risk-weighted assets (RWAs) reached C$100.3 billion ($74.3 billion), a 9.2% increase from three months earlier. The C$8.5 billion jump is the largest quarterly rise since the implementation of the final Basel III reforms for op risk
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