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TD Bank in talks to become a primary dealer-source

Wed Jul 8, 2009 11:31am EDT

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NEW YORK, July 8 (Reuters) - Canada's Toronto Dominion Bank (TD.TO) is in talks with the Federal Reserve about becoming a U.S. primary dealer, a source at the bank said on Wednesday.

If approved, TD Bank would be the second Canadian bank, following Royal Bank of Canada (RY.TO) on Tuesday, to be added to the network of top institutions that deal directly with the Fed, the U.S. central bank.

The New York Federal Reserve declined to comment. (Reporting by Mary Angela Rowe; Editing by James Dalgleish)



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