TORONTO, March 17 /CNW/ - TD Bank Financial Group (TDBFG) today confirmed
that, following a specific request, the Bank will provide financial support to
the agreement commonly known as the Montreal Accord aiding in the
restructuring of the non-bank sponsored asset-backed commercial paper (ABCP)
market. TD's financial participation will not be material to the Bank,
reflecting the fact TD did not have exposure to the non-bank ABCP market.
"In light of continued challenges facing financial markets, TD was asked
to play a role and we've agreed on the basis that both the government and the
Montreal Accord Committee indicated our participation is critical to the
overall success of the restructuring process. We have always said that we
would be part of a solution if our participation was needed to resolve this
issue and did not involve significant risks to our shareholders," said Ed
Clark, President and CEO, TDBFG. "The Pan-Canadian Committee's ability to
reach an agreement is a positive step forward in contributing to a solution
that brings stability to this market issue."
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group serves more than14 million
customers in four key businesses operating in a number of locations in key
financial centres around the globe: Canadian Personal and Commercial Banking,
including TD Canada Trust; Wealth Management, including TD Waterhouse and an
investment in TD Ameritrade; U.S. Personal and Commercial Banking through
TD Banknorth; and Wholesale Banking, including TD Securities. TD Bank
Financial Group also ranks among the world's leading on-line financial
services firms, with more than 4.5 million on-line customers. TD Bank
Financial Group had CDN$435 billion in assets, as of January 31, 2008. The
Toronto-Dominion Bank trades on the Toronto and New York Stock Exchanges under
the symbol "TD", as well as on the Tokyo Stock Exchange.
For further information: Simon Townsend, Media Relations, (416)
944-7161; Tim Thompson, Investor Relations, (416) 308-9030