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Banks To Lead Securitization Charge In Canada Jun 98
Standard & Poors, June 1998
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Abstract
The recent surge in Canadian securitized debt issuance is expected to continue throughout this year as Canada's major banks lead the growth of securitization in the nation's bond market. Canada's major financial institutions increasingly will look to the securitization market for capital to assist in facing the challenges of global competition. In addition to this global development, Canada is looking to securitization to meet the increased domestic demand for lending products resulting from a fundamental shift in Canadian credit behavior as consumers become more leveraged. Canadian financial institutions have just begun to engage in the global securitization trend. The banks' delay in entering the securitization market can be attributed to their abundance of capital, which eliminated the benefits of changing...
Companies mentioned in this report are: Royal Bank of Canada,Toronto-Dominion Bank (The),Bank of Montreal,Canadian Imperial Bank of Commerce,National Bank of Canada,Bombardier Inc.,John Deere Ltd.
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