US unit of TD Group close to a VAR breach in Q3
Largest loss-to-VAR ratio at the firm was highest among 10 US intermediate holding companies
Trading losses at the US unit of TD Group came close to exceeding its value-at-risk estimate in the third quarter, after the highest losses-to-VAR ratio reached 94.66%.
Banks must disclose their three largest trading losses each quarter as a percentage of VAR. If losses exceed 100% of VAR, the bank incurs a breach.
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