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RE:TD

[wildrunner11]

retiredcf wrote:

• The CET 1 ratio (capital) continues to build and implies material excess capital that could ultimately be returned to shareholders. 22.3% as of Q2/21 is up from 21.0% q/q and 18.5% y/y. This implies $577mm ($11.47/share) of excess capital relative to the mid-point of the company's targeted CET 1 level of 14%-15%. Management suggests they will review opportunities to "optimize capital levels" once OSFI modifies or removes restrictions on capital returns.

 

From the call this morning once OFSI lifts the distribution restrictions, HCG expects to take 18 to 24 months to get to the target CET 1 of 14%-15%, another SIB of $300M was mentioned with then NCIB and dividends being used to bring the ratio down. 

Also mentions was if CET 1 was at 15% the ROE would have been around 25% this quarter. 

I noticed the last 2 quarter releases have been on Friday, where they used to be mid week, I'm wondering if this impacts the shorted stocks by not giving them time to play the market or makes them hold the stocks for a few extra days to make interest payments. Definitely gives the market a couple of days to consume the information and, I hope, reduce volatility by the shorted stock owners.