Toronto-Dominion Bank Q4 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : First question for Bharat or Riaz. Dividend increases and buybacks are frozen until OSFI says otherwise. I just want to clear up the possible confusion

Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst : Greg, I actually wanted to pick up where you left off and be a bit of a nervous Nellie and see where do you see concerns around fee pressures maybe? So you talked about credit card and debit card recovery in fees. But are you worried about the compression outside of margins anywhere?

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : Just a follow-up on the U.S. margin there. And Greg, you kind of alluded to it, the excess liquidity, I guess, we're seeing that in the loans to deposits. It was running 60%-ish pre-COVID, and now it's been -- it's at 50%. I'm just wondering, do you think we've hit a bottom or that ratio is going to be the steady state there, 50% loan to deposit ratio? And then you're kind of going to grow back into a higher number before we start to see margins recover, barring a rate increase or something like that?

Question: Sohrab Movahedi - BMO Capital Markets Equity Research - Analyst : I wanted to try that one again, maybe ask a little bit more specifically. Banking service fees, securities brokerage commissions, those are 2 of your larger fee items that would be rich in bottom line contribution. Can I please get an outlook commentary on those for both Canada and the U.S.?