The new amount that Canada’s second-largest bank is setting aside to cover expected regulatory fines adds to the US$450 million it announced in April. TD posted a third-quarter loss of $181 million, compared with net income of $2.88 billion the previous year. (The Logic)

Talking point: The loss is TD Bank’s first since 2003, intensifying questions about Bharat Masrani’s future as CEO and a reflection of the magnitude of the problems it faces with its high-profile U.S. anti-money-laundering woes. Multiple U.S. court cases allege serious misconduct by TD employees and failure of the institution’s anti-money-laundering controls, including a US$653-million drug case in which multiple banks, including TD, allegedly took cash deposits from a fentanyl ring and helped to move the money abroad. Adjusted to exclude the massive provision and other one-time charges, TD’s profit was $3.65 billion—similar to last year, but short of analyst expectations. On a conference call, TD CEO Bharat Masrani said the total US$3-billion provision is what the bank expects “is the amount it will take to move forward.”