Canadian banks plug away at TLAC as Yankees dominate dollar market

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By David Rothnie
10 Oct 2019

Yankee banks took advantage of a strong market backdrop this week ahead of US third quarter earnings season, with Canadian banks leading the charge.

Toronto Dominion and Bank of Nova Scotia both tapped the front end of the curve with trades aimed at meeting their total loss absorbing capital (TLAC) requirements.

Toronto Dominion, rated Aa3/A, was first out of the blocks on Tuesday with a two-part offering of three year notes. 

The ...

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