Scotiabank Canadian Legislative Covered Bonds Presentation
Funding Strategy
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Build customer deposits in all of our key markets
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Continue to reduce wholesale funding and shift mix towards longer term funding
Absolute level of wholesale funding down $14B to $219B Y/Y
Wholesale funding as % of total assets down to 24% from 26% Y/Y
Asset growth funded through deposits
Money market funding as % of total WSF down to 37% from 42% Y/Y
Achieve appropriate balance between cost and stability of funding
Maintain pricing relative to peers
Diversify funding by type, currency, program, tenor and markets
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Regular issuance in all markets executed via wholesale funding centers in Toronto, New York, London and Singapore
New credit card and auto securitization programs launched in 2016
Look to pre-fund at least one quarter ahead, market permitting
Funding strategy and associated risk are managed centrally from Toronto within framework of policies and
limits approved by Board of Directors
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Branch banking subsidiaries are largely self-funded in the local market
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