v3.26.1
Subordinated Notes and Debentures
6 Months Ended
Apr. 30, 2026
Subordinated Notes and Debentures [Abstract]  
Subordinated Notes and Debentures
NOTE 11: SUBORDINATED NOTES AND DEBENTURES
Issuances
On April 30, 2026, the Bank issued $
1
 
billion of Non-Viability Contingent Capital (NVCC)
 
fixed rate reset notes constituting subordinated
 
indebtedness of the Bank,
maturing on June 16, 2036. The notes will
 
bear interest at a fixed rate of
4.208
% per annum (paid semi-annually) until
 
June 16, 2031, and at the Daily
Compounded Canadian Overnight Repo Rate
 
Average plus
1.270
% thereafter (paid quarterly) until maturity
 
on June 16, 2036. With prior approval of
 
OSFI, the
Bank may, at its option, redeem the notes on or after June 16, 2031,
 
in whole or in part, at par plus accrued and unpaid
 
interest on not more than
60
 
nor less than
10
 
days' notice to holders.
Redemptions
On March 4, 2026, the Bank redeemed all of
 
its outstanding $
1.25
 
billion
4.859
% NVCC subordinated notes due March 4,
 
2031, constituting subordinated
indebtedness of the Bank, at a redemption price
 
of
100
 
per cent of the principal amount, plus accrued
 
and unpaid interest up to, but excluding,
 
the redemption
date.