The Toronto-Dominion Bank (TD) (NYSE: TD) is one of Canada's Big Five banks, being the second largest bank in the country by assets and market capitalization. The bank offers a full range of financial products, ranging from retail to loans and mortgages. Out of the Big Five, TD has the most branches in the United States.^[1]

Since TD has the most U.S. branches, the bank was more affected by the 2008 Financial Crisis than the rest of the Big Five. TD's Wholesale Banking segment had a 50% decline in revenues.^[1] In response, TD lowered its prime lending rate by 50 basis points to 3.50%.^[2] As a whole, however, Canadian banks are more sound than U.S. banks. Canadian banks as a whole have lost $11.7 billion due to subprime investments^[3] -- which is a fraction of the over $592 billion that U.S. banks have written down.^[4] Even though its banks' losses were minimal compared to their U.S. counterparts, Canada has hinted at raising the minimal Tier 1 Capital Ratio% to 10%.

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