Canadian bank trio try covered bond market but others will seek ECB refuge
by Bill Thornhill
March 17, 2020 12:45 PM
Royal Bank of Canada, Toronto Dominion Bank and Canadian Imperial Bank of Commerce all attempted to access the covered bond market on Tuesday with euros clearly showing more depth than sterling. The fact the three issuers were in the market simultaneously, whilst a fourth was monitoring the market, is not coincidental and contrasts with European and UK issuers that already have a central bank liquidity life line.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.