RE:LVCC/LRCNThe banks are all trying to position themselves for whent he Basell11 come into effect in 2025 which will basically restrict lending, push buffer requirements up. What makes it more punitive for the Canadain banks is that the USA did not adopt the new standard and have said they will devise thier own plans so Canadian banks will be punished in Canada for Canadian operations and treated better n th USA , possibly. This makes the failed attempt to buy the FH even more damaging to TD. Unless Canada modifies thier approach it could be a rough couple fo years for Canadian banks. Now add to this thier current problems it only compounds the fact that investing in TD could be only a vehicle or dividends but no capital appreciation. The bond issue you mentioned is issued as Non Viable Congient Capitial (NVCC) which means the bond can be converted to common equity and we all saw what happened to bond holders for SVP, thier bonds became common shares and melted away in value.