TD Bank 2010 Annual Report Download - page 115
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TD BANK GROUP ANNUAL REPORT 2010 FINANCIAL RESULTS 113
Subordinated notes and debentures are direct unsecured obligations
of the Bank or its subsidiaries and are subordinated in right of payment
to the claims of depositors and certain other creditors. Redemptions,
cancellations, exchanges and modifications of subordinated deben-
tures qualifying as regulatory capital are subject to the consent and
approval of OSFI.
Interest expense is recognized on the accrual basis using the effective
interest rate method.
Term Deposits
(millions of Canadian dollars) 2010 2009
Over Over Over Over
Within 1 year to 2 years to 3 years to 4 years to Over
1 year 2 years 3 years 4 years 5 years 5 years Total Total
Personal $ 12,614 $ 15,786 $ 22,110 $ 8,571 $ 2,429 $ 15,602 $ 77,112 $ 77,899
Banks 8,482 25 41 7 1 29 8,585 2,054
Business and government 33,036 5,158 3,816 451 2,932 2,554 47,947 38,434
Trading 21,753 84 249 194 171 540 22,991 35,419
Total $ 75,885 $ 21,053 $ 26,216 $ 9,223 $ 5,533 $ 18,725 $ 156,635 $ 153,806
Subordinated Notes and Debentures
(millions of Canadian dollars)
Earliest par Foreign
Maturity date Interest rate (%) redemption date currency amount 2010 2009
December 2010 – August 2011 – – $ 3 $ 3
June 20111 7.63 – US$ 201 million 205 220
May 20121 7.00 – US$ 206 million 210 226
August 2014 10.05 – 148 150
January 2016 4.32 January 2011 998 997
October 2016 4.87 October 2011 490 500
November 2017 5.38 November 2012 2,493 2,500
June 2018 5.69 June 2013 898 900
April 2020 5.48 April 2015 855 874
September 20221 4.64 September 2017 270 270
July 2023 5.83 July 2018 650 650
May 2025 9.15 – 198 199
July 20301 11.30 – – 11
October 20301 10.88 – – 26
February 20311 10.20 February 2011 US$ 4 million 4 4
June 20331 3.39 December 2010 US$ 3 million 3 –
March 20341 3.08 December 2010 US$ 21 million 21 22
June 20351 2.00 December 2010 US$ 10 million 11 11
June 20351 2.00 December 2010 US$ 10 million 11 11
June 20361 1.88 June 2011 US$ 41 million 42 –
July 20361 1.85 July 2011 US$ 36 million 37 –
September 20371 1.72 September 2012 US$ 78 million 79 –
September 20371 1.61 September 2012 US$ 31 million 31 –
October 20371 1.62 October 2012 US$ 18 million 18 –
October 2104 4.97 October 2015 800 796
December 2105 4.78 December 2016 2,231 2,233
December 2106 5.76 December 2017 1,800 1,780
Total $ 12,506 $ 12,383
Other Liabilities
(millions of Canadian dollars) 2010 2009
Amounts payable to brokers, dealers and clients $ 7,911 $ 6,333
Accounts payable, accrued expenses and other items 4,761 5,214
Insurance-related liabilities 4,091 3,730
Accrued interest 1,538 1,559
Accrued salaries and employee benefits 1,619 1,331
Accrued benefit liability 923 855
Cheques and other items in transit 473 610
Total $ 21,316 $ 19,632
OTHER LIABILITIES
NOTE 13
SUBORDINATED NOTES AND DEBENTURES
NOTE 14
1
Obligation of a subsidiary.