05:57 PM EDT, 08/21/2024 (MT Newswires) -- Toronto-Dominion Bank ( MLWIQXX ) said Wednesday its fiscal Q3 results include a further provision of $2.6 billion to reflect fines in anticipation of a global resolution of probes into its US anti-money laundering program.

The bank expects a global resolution of the civil and criminal investigations to be finalized by calendar year end.

"We recognize the seriousness of our US AML program deficiencies and the work required to meet our obligations and responsibilities is of paramount importance to me, our senior leaders, and our Boards," TD Bank Group Chief Executive Bharat Masrani said in a statement.

TD also said it sold 40.5 million common shares of Charles Schwab, which reduced its ownership in the US financial services company to 10.1% from 12.3%.

While the bank has agreed not to sell any additional Schwab shares for 45 days, TD said it has no intention currently to divest additional shares.