Very strong domestic retail platform anchoring a diverse business portfolio, and a significant U.S. retail franchise Scale advantages as one of Canada's two largest banks Higher reserve coverage than that of domestic peers Less reliance on wholesale funding than that of domestic peers Higher exposure than peers' to credit cards and automobile lending, lending categories we view as riskier Higher exposure than peers' to highly indebted Canadian households The stable outlook reflects S&P Global Ratings' expectation that The Toronto-Dominion Bank (TD) will continue to post strong operating results and maintain its premier franchise with either the No. 1 or No. 2 market share position in all of its domestic consumer products. The stable outlook also reflects our expectation that the
