07:21 AM EST, 01/22/2025 (MT Newswires) -- Toronto-Dominion Bank ( MLWIQXX ) is seeking to sell about $9 billion of residential mortgages to comply with an asset cap imposed by US regulators, Bloomberg News reported Wednesday, citing sources familiar with the matter.

The cap is set at about $434 billion and is part of a settlement of almost $3.1 billion agreed to in October after TD pleaded guilty to failing to stop money laundering by drug cartels, Bloomberg reported.

TD is restructuring its holdings to continue daily operations under the cap, including selling up to $50 billion in lower-yielding securities, according to Bloomberg.

TD did not immediately respond to MT Newswires' request for comment.

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