European banks eye Maple market as next MREL frontier

By Tyler Davies
14 May 2019

European financial institutions have made very limited use of Canadian dollars in recent years, but the region’s issuers could soon start to embrace the Maple market as they look to diversify their funding bases for the minimum requirement for own funds and eligible liabilities (MREL).

Stalwarts in the Canadian dollar market include some of the big US financial institutions, such as Bank of America, which sold a C$1bn ($748m) six year senior bond in April.

European banks, on the other hand, have hardly touched the currency since 2012. Up until then, it would not ...

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