Monthly Canadian Covered Bond Report: December 2020
Total outstanding covered bonds decreased to $258.9 billion (Canadian-dollar equivalent) in December 2020, down from $261.8 billion the prior month. During December 2020, the covered bond market saw three maturities, one each from the Canadian Imperial Bank of Commerce (rated AA with a Stable trend by DBRS Morningstar), the National Bank of Canada (rated AA (low) with a Stable trend by DBRS Morningstar) and the Royal Bank of Canada (rated AA (high) with a Stable trend by DBRS Morningstar). There was no new issuance during the same period. Net growth in outstanding covered bonds posted $93.5 billion in 2020.
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