Monthly Canadian Covered Bond Report: October 2019
As at October 2019, total outstanding covered bonds stood at $165.4 billion, down from $165.8 billion (Canadian-dollar equivalent) in September 2019. During October 2019, the market saw two new issuances - one from the Royal Bank of Canada (rated AA (high) with a Stable trend by DBRS Morningstar) and one from the Canadian Imperial Bank of Canada (CIBC; rated AA with a Stable trend by DBRS Morningstar). There were two maturities during the same period, one from CIBC and the other from the Federation des caisses Desjardins du Quebec (FCDQ; rated AA with a Stable trend by DBRS Morningstar).
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