TD Bank's $500+ Million Writedown for Q4 2008

Dow Jones Newswires, 21 November 2008RBC Capital Markets downgrades TD Bank to underperform following disclosure yesterday it'll take 4Q charge of C$503M (U$391M) in losses on its credit and securities trading portfolios. RBC expects TD's exposure to US banking will lead to higher loss provisions in 2009 than in 2008, and several overhangs in TD's Alt-A securities and other areas that could