TD confirms support for the Defence, Security and Resilience Bank
Press Release + Noah Note
TORONTO, Feb. 5, 2026 /CNW/ - The Toronto-Dominion Bank ("TD Bank Group" or "TD") announced today that it has confirmed its role as a partner bank of the Defence, Security and Resilience Bank (DSRB) Development Group.
The DSRB Development Group supports the advancement of the DSRB, an international financial institution whose goal will be to mobilize the capital needed to help NATO members and allied nations finance their capabilities for defence, security and resilience. The DSRB will give governments access to affordable funding and strengthen opportunities across defence, security and resilience supply chains, including small and medium enterprises.
"As Canada and its allies increase their focus on advancing defence, security and resilience, TD is committed to supporting the financial foundation that helps drive this progress forward," said Raymond Chun, Group President and Chief Executive Officer, TD Bank Group. "Drawing on TD's more than 170-year history, deep sector knowledge, and full-service platform, we are focused on ensuring these national initiatives have the backing, guidance, and support needed to reinforce our country's economic resilience for decades to come."
"TD's engagement reflects a forward-looking approach to the financing challenges at the heart of defence, security and resilience. DSRB is being established to work with banks like TD, alongside a growing network of institutions, to provide the long-term, scalable financing that allows industry to respond effectively to allied commitments," said Kevin Reed, President and COO of the DSRB Development Group.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 28.1 million clients in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among North America's leading digital banks, with more than 13 million active mobile users in Canada and the U.S. TD had $2.1 trillion in assets on October 31, 2025. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.
Noah Note: Canada continues to slowly build up the support and industry backing as part of it's ongoing bid to be host to the future Defence, Security, Resilience Bank. To quote myself a bit…
The DSRB envisions itself as a conduit delivering long-term, low-cost financing for defence and dual-use projects backed by the combined credit strength of member states and financial tools from private partners.
The bank will provide AAA-backed loans and guarantees not just to countries looking to finance new procurements, but also to companies looking to strengthen the Western Defence Industrial Base and supply chain.
The bank is owned by the collective member states that sign the charter. As a cost of signing, member states pay an immediate contribution (representing 20% of the bank's funding) to provide initial capital to the bank. This is supported by Callable Capital, which will be backed by the proposed AAA-rating the bank aims to secure through the ownership of its member states.
In theory, this allows member states and industry access to significant capital without having to take on the debt directly. It provides defence-specific financial support that doesn't contain the restrictions, while providing more long-term, diverse financing options.
The bank envisions itself as a global system accessible to NATO members, EU member states, and Indo-Pacific partners. It is not a NATO fund as some media portrays it. It is an open, collective financing instrument that, in theory, would allow anyone deemed eligible.
Canada, specifically Ontario have been very public eith their desire to host this Bank here, even releasing a bid book a few weeks ago. Other financial institutions like Scotiabank have also been vocal in their support. I of course am a bit more hesitant after all the SAFE hype to be throwing my coins into this well in hopes of an award.
I am ready to be proven wrong.
Huge