|
|
 |
|
Viewing report
|
|
|
|
ARCHIVE | Criteria | Financial Institutions | Banks: CICA Handbook Revisions Are Credit Neutral For Existing Canadian Bank And Insurance Hybrid Securities Mar 04
Standard & Poors, March 2004
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
Standard & Poor's Ratings Services has reviewed the position of the Canadian regulators on the final changes made in November 2003 to Section 3860 of the Canadian Institute of Chartered Accountants (CICA) handbook. Based on this review, Standard & Poor's will not be making any changes to the ratings or outlooks on the Canadian banks or insurance companies, or to the ratings on any of their existing regulatory Tier 1 preferred shares or trust-preferred securities (innovative Tier 1 instruments). As well, Standard & Poor's has grandfathered existing Tier 1 hybrid capital instruments and will continue to include them in its calculation of core capital to the predetermined limits set out in Standard & Poor's criteria. In future, hybrid securities will...
Companies mentioned in this report are: Canada,Royal Bank of Canada,Toronto-Dominion Bank (The),Bank of Montreal,Bank of Nova Scotia (The),Canadian Imperial Bank of Commerce,National Bank of Canada,Sun Life Assurance Co. of Canada,Great-West Life Assurance Co.,Manufacturers Life Insurance Co. (The),Canada Life Assurance Co. (The),London Life Insurance Co.,HSBC Bank Canada,Maritime Life Assurance Co.,Transamerica Life Canada,Laurentian Bank of Canada,Industrial Alliance Insurance and Financial Services Inc.
|
|
|
|
