The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: A question for Teri. OSFI, in a recent speech, talked about the -- they're taking a closer look at HELOCs and an issue with readvance loans. Can you
maybe tell me how you interpret that commentary? And what the -- TD, given the size of its HELOC book, what exposure there might be and how
you see this issue playing out?
Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst
: So you're not seeing any increase, I guess, the stubborn levels of indebtedness? So people are actually paying it off rather than as the LTV goes
down, they're not tapping into it more?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: Couple of questions. Maybe one to start off with Bob Dorrance. Bob, the lending book in your -- in the wholesale bank was up about 13%
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: Okay. And in the past, I think you had said that as far as the segment expenses, $600 or so million quarterly is probably the new norm. That's still
valid?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: If I can just sneak one more in for Ajai. Ajai, I think in the Canadian retail risk discussion in the shareholder report. Anyway, you call out credit
migration in auto portfolios. Can you comment a little bit about exactly what that is? And if that's going to have any bearing around future growth
prospects for the portfolio?
Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst
: And so Teri, you're okay to continue to originate -- I guess, with the new -- with whatever risk standards there are, you can maintain that growth
rate?
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