Canadian Bail-in Regulations and Economic Fundamentals
Funding Strategy
Flexible, well-balanced and diversified funding sources
Funding Strategy
• Build customer deposits in all of our key markets
Continue to reduce wholesale funding (WSF)
while focusing on TLAC eligible debt
Achieve appropriate balance between efficiency
and stability of funding including maintaining
pricing relative to peers
Diversify funding by type, currency, program,
tenor and markets
• Pre-fund one quarter ahead, market permitting
Centralized funding strategy and associated risk
management
SHORT-TERM FUNDING
o USD 25 billion Bank CP program
。 USD 3 billion Subsidiary CP program
o CD Programs (Yankee/USD, EUR, GBP, AUD, HKD)
⚫ TERM FUNDING & CAPITAL
Canadian Dollar
。 CAD 36 billion Global Registered Covered Bond Program
(uninsured Canadian mortgages)
Canada Mortgage Bonds and Mortgage Backed Securities
o CAD 15 billion debt & equity shelf
(senior/sub debt, prefs, common shares)
o CAD 15 billion START ABS program (indirect auto loans)
o CAD 7 billion Halifax ABS shelf (unsecured lines of credit)
。 CAD 6 billion Principal at Risk (PAR) Note shelf
o CAD 5 billion Trillium ABS shelf (credit cards)
Foreign Currency
o USD 40 billion debt & equity shelf
(senior/sub debt, preferreds, common shares)
o USD 20 billion EMTN shelf
o AUD 8 billion Australian MTN program
o USD 7.5 billion Singapore MTN program
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