Scotiabank Strategic Priorities and Track Record
TLAC Requirements and Eligibility
Two concurrent minimum TLAC compliance requirements
Risk-based TLAC ratio > 21.5% of RWA
&
TLAC leverage ratio > 6.75%
TLAC eligibility
Tier 1 and 2 regulatory capital as per CAR guideline
+
Bail-in debt
Eligibility criteria for bail-in debt to qualify as TLAC
Subject to permanent conversion into common shares in whole or in part
pursuant to CDIC Act
Directly issued by Canadian parent operating company
Not secured or covered by a guarantee of the issuer or related party
Perpetual or have remaining term >365 days
No acceleration rights outside of bankruptcy, insolvency, wind-up, liquidation
or failure to make principal or interest payments for 30 days or more
Callable without OSFI prior approval if, following the transaction, the minimum
TLAC requirement is satisfied
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