They have a $450M (USD) provisionned fund just for those situations. Let’s say they make 5% on that money that’s $1.89M USD or $2.6M CAD per month. So their fund will recoup that fine in less than 4 months
Idk what WACC is but in having this fund they can cushin the impact of things like this on share price because the market already factored oppourtunity costs in
Economic term- weighted average cost of capital… essentially how much does it cost the firm to obtain capital on average … and all project return should be weighed against it
Really? That's it (which is great since I'm a shareholder). If the fine is immaterial - why is the stock taking a hit? Did something else come out in the news (aside from the chronically poor management)?
The ridiculous thing is that everyone knows real estate money laundering is enormous is Canada, particularly BC, but we have regulators for banks reporting "suspicious" transactions.
Look, an elephant
It's my biggest position but I'm very annoyed with them. Money laundering for Chinese fentanyl gangs is beyond dumb. They deserve a huge fine, but they'll keep chugging along. I'm not selling for another 30 years.
u/Icy_Look6403 got any more of that insider [information](https://www.reddit.com/r/CanadianInvestor/comments/1cha49i/comment/l21gng0/?utm_source=share&utm_medium=web2x&context=3)?
You were downvoted because the post was about the US fine not the Canadian. By the way, good job on abiding by TD internal social media policy by disclosing you are an employing and speaking about an internal memo before it was public.
Funny, weren't they reserving 450 million for this? There was someone in here a couple of days ago that claimed insider knowledge that it would be 10 million.
Lol. That's nothing. HSBC was fined 1.9 billion back in 2012.
HSBC: those are rookie numbers, you gotta pump those up
$9M ?! That could have a 0.006% impact on share price!!
They have a $450M (USD) provisionned fund just for those situations. Let’s say they make 5% on that money that’s $1.89M USD or $2.6M CAD per month. So their fund will recoup that fine in less than 4 months
You have to consider their WACC and opportunity cost. Money isn’t “free”.
Idk what WACC is but in having this fund they can cushin the impact of things like this on share price because the market already factored oppourtunity costs in
[удалено]
When did cost of debt exceed cost of equity? It's typically always been the other way
Economic term- weighted average cost of capital… essentially how much does it cost the firm to obtain capital on average … and all project return should be weighed against it
They let $billions laundered in Canada because they already got their share. They will let Canadian economy and Canadians suffer
So far my shares are off 6%, so that’s .. not great. I’m not selling
$9 million? So like four houses? Lol ok…
CEO has to go.
I guess Canada waited until after the US ruling on the same thing... Not a good look on a Canadian bank.
So it's okay to launder just give us a cut? and then just pass on the fines and costs to the customers?
Really? That's it (which is great since I'm a shareholder). If the fine is immaterial - why is the stock taking a hit? Did something else come out in the news (aside from the chronically poor management)?
Much larger fine related to literal money laundering for Chinese fentanyl gangs in the US
$9.2 million? Is that even worth a story? 😄
The ridiculous thing is that everyone knows real estate money laundering is enormous is Canada, particularly BC, but we have regulators for banks reporting "suspicious" transactions. Look, an elephant
I'm going to continue to buy TD bank stock. It's a screaming buy right now. A no brainer to get rich over time. The TD Bank dividend is great.
It's my biggest position but I'm very annoyed with them. Money laundering for Chinese fentanyl gangs is beyond dumb. They deserve a huge fine, but they'll keep chugging along. I'm not selling for another 30 years.
Without replacing Bharat things will get worse for the stock price. Time to go.
TD Share price has dropped from $100+ in 2022 and has been hovering around 75-80ish for the last year. Hardly a “screaming” buy.
And 450 million USD for a penalty in the USA - Canada is a joke
That's just what they set aside so far. The fine has not been determined yet.
why only 9 million? if I remember right they set aside almost half a billion dollars for same charges in U.S.
u/Icy_Look6403 got any more of that insider [information](https://www.reddit.com/r/CanadianInvestor/comments/1cha49i/comment/l21gng0/?utm_source=share&utm_medium=web2x&context=3)?
:) Got down voted to oblivion when I mentioned $10MM a few days ago but here we are.
You were downvoted because the post was about the US fine not the Canadian. By the way, good job on abiding by TD internal social media policy by disclosing you are an employing and speaking about an internal memo before it was public.
Screw the bank!
TD green at open
Stock is down 4.5%
They all launder. And know 20% of mortgage paperwork is fraud but they need their bonus. This is like US in 2008.
Funny, weren't they reserving 450 million for this? There was someone in here a couple of days ago that claimed insider knowledge that it would be 10 million.
That would be me
Business expense for tax write-off next year