13:22:47 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,208,473,054
Close 2017-01-10 C$ 76.96
Market Cap C$ 93,004,086,236
Recent Sedar Documents

Globe/wire say BMO, others stock up on cash

2017-01-11 09:17 ET - In the News

See In the News (C-BMO) Bank of Montreal

The Globe and Mail reports in its Wednesday edition that the banks have started their 2017 financing programs by selling a record amount of bonds backed by residential mortgages abroad, taking advantage of lower borrowing costs amid demand for their top-rated debt. A Bloomberg dispatch to The Globe says that the country's biggest financial institutions have sold about $6-billion (U.S.) in covered bonds denominated in euros, U.S. dollars and pounds this year, the most on record for a year through Jan. 9. Bank of Montreal and TD Bank have issued the most, with a $1.75-billion (U.S.) deal each, followed by a euro sale equalling $1.75-billion (Canadian) from Bank of Nova Scotia. "It's a sound economy, a sound housing market still and good credit quality of the banking sector itself," said strategist Joost Beaumont at ABN Amro Bank. Canadian issuers are drawn to Europe by interest rates that are still relatively low, and ahead of possible market risks posed by upcoming European elections. Canadian banks are continuing their trend of looking outside the domestic market for lower borrowing costs and diversified funding sources, issuing nearly 28 billion euros in covered bonds last year across multiple markets.

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