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Information on Subsidiaries | 12 Months Ended
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Oct. 31, 2025
Information on Subsidiaries [Abstract] |
Information on Subsidiaries | NOTE 31: INFORMATION ON SUBSIDIARIES The following is a list of the directly or indirectly held significant subsidiaries. SIGNIFICANT SUBSIDIARIES 1 (millions of Canadian dollars) October 31, 2025 Address of Head Carrying value of shares North America or Principal Office 2 owned by the Bank 3 Meloche Monnex Inc. Montreal, Québec $ 3,202 Security National Insurance Company Montreal, Québec Primmum Insurance Company Toronto, Ontario TD Direct Insurance Inc. Toronto, Ontario TD General Insurance Company Toronto, Ontario TD Home and Auto Insurance Company Toronto, Ontario TD Wealth Holdings Canada Limited Toronto, Ontario 12,683 TD Asset Management Inc. Toronto, Ontario GMI Servicing Inc. Winnipeg, Manitoba TD Waterhouse Private Investment Counsel Inc. Toronto, Ontario TD Waterhouse Canada Inc. Toronto, Ontario TD Auto Finance (Canada) Inc. Toronto, Ontario 4,542 TD Group US Holdings LLC Wilmington, Delaware 75,699 Toronto Dominion Holdings (U.S.A.), Inc. New York, New York Cowen Inc. New York, New York Cowen Structured Holdings LLC New York, New York Cowen Structured Holdings Inc. New York, New York TD Arranged Services LLC New York, New York RCG LV Pearl, LLC New York, New York Cowen Financial Products LLC New York, New York Cowen Holdings, Inc. New York, New York Cowen CV Acquisition LLC New York, New York Cowen Execution Holdco LLC New York, New York Westminster Research Associates LLC New York, New York RCG Insurance Company New York, New York TD Prime Services LLC New York, New York TD Financial Products LLC Chicago, Illinois TD Securities (USA) LLC New York, New York Toronto Dominion (Texas) LLC New York, New York Toronto Dominion (New York) LLC New York, New York Toronto Dominion Investments LLC New York, New York TD Bank US Holding Company Cherry Hill, New Jersey Epoch Investment Partners, Inc. New York, New York TD Bank USA, National Association Cherry Hill, New Jersey TD Bank, National Association Cherry Hill, New Jersey TD Equipment Finance, Inc. Mt. Laurel, New Jersey TD Private Client Wealth LLC New York, New York TD Public Finance LLC New York, New York TD Wealth Management Services Inc. Mt. Laurel, New Jersey TD Investment Services Inc. Toronto, Ontario 68 TD Life Insurance Company Toronto, Ontario 180 TD Mortgage Corporation Toronto, Ontario 14,052 TD Pacific Mortgage Corporation Vancouver, British Columbia The Canada Trust Company Toronto, Ontario TD Securities Inc. Toronto, Ontario 3,589 TD Vermillion Holdings Limited Toronto, Ontario 24,279 TD Reinsurance (Barbados) Inc. St. James, Barbados International Ramius Enterprise Luxembourg Holdco S.à.r.l. Luxembourg, Luxembourg 49 Cowen Reinsurance S.A. Luxembourg, Luxembourg TD Ireland Unlimited Company Dublin, Ireland 2,973 TD Global Finance Unlimited Company Dublin, Ireland TD Securities (Japan) Co. Ltd. Tokyo, Japan 12 Toronto Dominion Australia Limited Sydney, Australia 107 TD Bank Europe Limited London, England 1,420 Toronto Dominion International Pte. Ltd. Singapore, Singapore 10,701 TD Execution Services Limited London, England Toronto Dominion (South East Asia) Limited Singapore, Singapore 1,813 1 Unless otherwise noted, The Toronto-Dominion Bank, either directly or through its subsidiaries, owns 100 % of the entity and/or 100 % of any issued and outstanding voting securities and non-voting securities of the entities listed. 2 Each subsidiary is incorporated or organized in the country in which its head or principal office is located. 3 Carrying amounts are prepared for purposes of meeting the disclosure requirements of Section 308 (3)(a)(ii) of the Bank Act (Canada) . Intercompany transactions may be included herein which are eliminated for consolidated financial reporting purposes. SUBSIDIARIES WITH RESTRICTIONS TO TRANSFER FUNDS Certain of the Bank’s subsidiaries have regulatory requirements to fulfil, in accordance with applicable law, in order to transfer funds, including paying dividends to, repaying loans to, or redeeming subordinated debentures issued to, the Bank. These customary requirements include, but are not limited to: ● Local regulatory capital and/or surplus adequacy requirements; ● Basel requirements under Pillar 1 and Pillar 2; ● Local regulatory approval requirements; and ● Local corporate and/or securities laws. Pursuant to the terms of the orders that TD Bank USA, N.A. (TDBUSA) and TDBNA (collectively the “U.S. Bank”) entered into with the OCC, the Boards of Directors of the U.S. Bank are required to certify to the OCC that the U.S. Bank has allocated appropriate resources and staffing to the remediation required by the orders before declaring or paying dividends, engaging in share repurchases, or making any other capital distribution. In addition, pursuant to the terms of the cease and desist order that the Bank, TDGUS and TDBUSH entered into with the Federal Reserve, the Boards of Directors of the Bank, TDGUS and TDBUSH are required to certify to the Federal Reserve that appropriate resources and staffing have been allocated to remediation, as required by the order, before declaring or paying any dividends, engaging in share repurchases, or making any other capital distributions. If the Bank, the U.S. Bank, TDGUS or TDBUSH are unable to so certify, then there would be restrictions on (i) the payment of dividends or making of any other capital distributions, or (ii) the repurchase of shares by these entities . As at October 31, 2025, the net assets of subsidiaries subject to regulatory or CAR was approximately $ 107 billion (October 31, 2024 – $ 109 billion), before intercompany eliminations. In addition to regulatory requirements outlined above, the Bank may be subject to significant restrictions on its ability to use the assets or settle the liabilities of members of its group. Key contractual restrictions may arise from the provision of collateral to third parties in the normal course of business, for example through secured financing transactions; assets securitized which are not subsequently available for transfer by the Bank; and assets transferred into other consolidated and unconsolidated structured entities. The impact of these restrictions has been disclosed in Notes 9 and 25.

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