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EASY40 and DDFI5899 C-560's out of New Orleans NASJRB
ATILA25 C-560 out of JBA sw and WING25 C-560 w from McGuire AFB
_59-1462 KC-135 tanker heading to Honduras and _58-0050 tanker appears off Cancun
NATO06 E-3 Sentry AWACS over Netherlands and Belgium from Geilenkirchen AB
NATO02 E-3 Sentry AWACS heading north to Nroway
TD Warns of $800 Million of Loan-Loss Provisions for U.S. Unit
Toronto-Dominion Bank said it expects to record about C$1.1 billion ($800 million) in loan-loss provisions for its U.S. retail division in its fiscal second quarter, the result of the coronavirus pandemic’s economic impact.
The Toronto-based lender also will have about C$600 million of set-asides tied to U.S. credit cards that consist primarily of its retailer partners’ share of provisions for credit losses, Toronto-Dominion said Friday in a statement. Those are fully offset through corporate non-interest expenses and won’t have an impact on earnings, the bank said. Its U.S. credit-card retail partners include Target Corp. and Nordstrom Inc.
While the loan-loss provisions “figure is certainly higher than what we had estimated, in a vacuum and without comparisons to other banks we think this new information should be viewed as neutral and not terribly surprising,” RBC Capital Markets analyst Darko Mihelic wrote in a note to clients. The Canadian banks under international accounting standards “should be expected to book larger provisions” in the second quarter, he said.
Toronto-Dominion, Canada’s second-largest lender by assets, is scheduled to report quarterly results on May 28.
https://news.bloombergtax.com/financial-accounting/td-warns-of-800-million-of-loan-loss-provisions-for-u-s-unit