RBC, TD Have Traits of ‘Important’ Banks, Moody’s Says
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Royal Bank of Canada and Toronto-Dominion Bank, the two largest Canadian lenders, have traits that may make them “systemically important” because of their large capital markets businesses, according to Moody’s Investors Service.
Moody’s included Royal Bank, the largest Canadian lender, and Toronto-Dominion, the No. 2 bank, on a list of 28 “global systemically important banks” based on three criteria, according to a report today. Royal Bank ranks 22nd and Toronto-Dominion ranks 27th on the list, which includes banks with “significant” capital markets investments.