TD Bank

Is TD Bank safe?

For deposits, yes. This page covers TD Bank Group: the Canadian parent, The Toronto-Dominion Bank, which runs TD Canada Trust, and its main US bank, TD Bank, N.A. The group had a CET1CET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary capital ratio of 14.3% at 31 July 2026, well above the 11.0% Canada's regulator requires, and its deposits are rated Aa1 by Moody's and AA+ by Fitch. Canadian deposits are insured by CDIC and US deposits by the FDICDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary. We score it 74/100. The money is safe; the reason for the lower score is a conduct record that includes the largest Bank Secrecy Act case ever brought against a US bank.

Which TD holds your money

Where you bank	Legal entity	Deposit protectionDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary
TD Canada Trust (Canada)	The Toronto-Dominion Bank	CDIC, C$100,000 per eligible category
TD Bank in the US East Coast states	TD Bank, N.A.	FDIC, $250,000 per depositor per ownership category
Smaller US bank	TD Bank USA, N.A.	FDIC, separate limit

TD Bank, N.A. is a large US bank in its own right, with $343 billion of assets and $278 billion of deposits in June 2026, according to FDIC data. The FDIC estimated about $104 billion of those deposits as above the insurance limit. If you hold more than $250,000 there in one ownership category, that excess relies on TD itself.

The US money laundering case

In October 2024 TD reached what it calls the Global Resolution with US authorities. TD Bank, N.A. pleaded guilty to conspiring to fail to maintain an adequate anti-money launderingAnti-money launderingThe rules and checks that stop criminals from moving illegal money through banks, payment firms and crypto exchanges.More in the glossary programme and to related charges, and the group agreed to pay about US$3.09 billion. FinCEN's share, $1.3 billion, was the largest penalty against a depository institution in US Treasury history. FinCEN said TD's failures let drug traffickers and other criminals move money through the bank for years.

The settlement also imposed:

• an independent monitor overseeing the US remediation;
• an asset cap that keeps the average combined assets of TD's two US banks below US$434 billion until the OCC is satisfied;
• an enterprise-wide review of TD's anti-money laundering programme, including in Canada.

TD expects to spend about US$550 million on US remediation in fiscal 2026 and to finish its own remediation actions in 2027, with more lookback reviews possible after that. Canada's FINTRAC fined the parent C$9,185,000 in 2024 for its own reporting and monitoring failures, and the Financial Consumer Agency of Canada fined it C$5.5 million in 2025 after loan cost disclosures went wrong on 160,658 accounts between 2001 and 2024.

None of this touched depositors' money. It does say something about how the bank was run, which is what our conduct factor measures.

Capital and liquidity

Measure (31 July 2026)	TD Bank Group
CET1 ratioCET1 ratioA bank's highest-quality capital (mainly shares and retained profits) as a share of its risk-weighted assets. Higher means more room to absorb losses.More in the glossary	14.3%
OSFI CET1 target	11.0%
Leverage ratioLeverage ratioA bank's Tier 1 capital divided by its total exposures, without adjusting for risk. It is a simple backstop to risk-based capital rules.More in the glossary	4.5%
TLAC ratio	31.1%
Liquidity coverage ratioLiquidity coverage ratioA bank's cash and easy-to-sell assets compared with the money that could flow out in a 30-day crisis. It must be at least 100%.More in the glossary	133%
Total deposits	C$1.26 trillion

TD's capital was boosted when it sold its stake in Charles Schwab in 2025, and it plans to bring the CET1 ratio down to about 13% by October 2027 through buybacks. Even then it would sit about two points above OSFI's target. The target includes Canada's Domestic Stability Buffer, which OSFI cut to 3% in June 2026. Liquidity is a little deeper than at Royal Bank of Canada, whose LCR was 125% in the same quarter.

Crisis record

TD came through 2008 without government capital. Its management had pulled back from US structured credit before the crisis, and Canadian mortgage insurance limited losses at home. Like every big Canadian bank it used liquidity support, including a federal programme that bought insured mortgage pools. Its US bank grew through acquisitions of Banknorth and Commerce Bancorp in the 2000s, the same network now operating under the asset cap.

How to keep your money safe with TD

1. Check which TD you bank with. TD Canada Trust is CDIC-covered; TD Bank in the US is FDICDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary-covered. The two schemes do not add up across borders for one account.
2. In Canada, spread savings across CDIC categories (own name, joint, TFSA, RRSP, FHSA) for separate C$100,000 limits.
3. In the US, keep balances at TD Bank, N.A. within $250,000 per ownership category, or use another bank such as Bank of America for the excess.
4. Turn on two-step verificationTwo-factor authenticationSigning in with a second proof of identity on top of your password, such as a code from an app, a security key or a passkey.More in the glossary and alerts. TD will not call and ask you to move money to a "safe account" or read out a one-time code.

How we scored it

Stability history (86), capital (85) and deposit protectionDeposit insuranceA government-backed scheme that repays bank customers up to a set limit if their bank fails, such as the FDIC in the US or the FSCS in the UK.More in the glossary (84) are TD's strongest factors. Conduct (28) is below Wells Fargo at 35, which also spent years under a US asset cap. The guilty plea, record FinCEN penalty and remediation still under way drive that score.