Royal Bank of Canada said to be preparing launch of first bail-in bonds: Bloomberg [Seeking Alpha]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Source: Seeking Alpha
Royal Bank of Canada (NYSE: RY ) appears to be preparing to issue Canada's first so-called bail-in bonds, a type of security that's expected to gradually replace deposit notes in the country, Bloomberg reports. The bank held a call with fixed-income investors Tuesday to review the legal framework for the new securities, according to people with access to the call. The bail-in bonds were developed in response to the 2008 financial crisis, in an effort to avoid using taxpayer money to save failing banks. The new securities have more risk than deposit notes because they can be converted into equity in case a bank gets into trouble. Deposit notes, a cheap and versatile source of funding for Canadian banks, have become a mainstay for the nation's corporate bond market. It still isn't known how much interest, or spread over federal government bonds, banks will offer to investors for taking on higher risk than deposit notes. Canadian lenders will be allowed to start issuin
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RY
Earnings
- 2/28/24 - Beat
RY
Sec Filings
- 4/25/24 - Form 424B2
- 4/25/24 - Form 424B2
- 4/25/24 - Form 424B2
- RY's page on the SEC website