02:57 PM EST, 02/07/2025 (MT Newswires) -- Bank of America ( BAC ) has agreed to buy a $9 billion portfolio of residential mortgage loans from Toronto-Dominion Bank ( MLWIQXX ), Bloomberg reported Friday, citing people familiar with the matter.

The Canadian bank is selling certain assets to comply with regulatory requirements that limit its US retail banking assets at $434 billion, the people reportedly said.

A deal has not been finalized and discussions are ongoing, according to the people.

Bank of America ( BAC ) declined MT Newswires' request for comment while Toronto-Dominion Bank ( MLWIQXX ) did not immediately respond.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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