Canada's Equitable Bank has announced plans to issue its first covered bond, possibly as early as next year. Its decision follows an increase in Canada’s regulatory issuance limit and paves the way for several other smaller Canadian banks to follow suit.
Equitable Bank has selected Barclays and TD Securities to help develop a covered bond funding programme. According to a press release, the “management's goal is to launch the programme as early as 2020,” subject to regulatory approval and market conditions.
Equitable said it would likely become