Risk and risk weighting

Assessment of rating

All our issues carry the full faith and credit of the Canadian government rather than an explicit guarantee, which, in effect, elevates its credit standing to sovereign. The ratings on us reflect its status as an agent of His Majesty in right of Canada and 100% ownership by the government of Canada (AAA/Stable/A-1+).

The Japan Credit Rating Agency conducted an assessment and re-confirmed its AAA rating of our debt securities.

Risk weighting

0% BIS risk weighted, according to Basel II Framework.

Our debt obligations incur favourable capital treatment as they constitute a direct claim on a central government within the OECD. This is in accordance with the International Convergence of Capital Measurement and Capital Standards set forth by the Basel Committee on Banking Regulations and Supervisory practices. As such, we carry a zero-risk weighting for regulatory capital applications.

Trade matching statement

National Instrument 24-101-Institutional Trade Matching and Settlement came into effect on April 01, 2007. This instrument provides a foundation in provincial securities regulation for timely trade settlement processing and increased efficiency. It is a step towards straight-through processing in the Canadian securities market.

In accordance to the National Instrument 24-101, participants are required to publish a trade matching statement (TMS), or alternatively enter into a trade matching agreement (TMA) prior to institutional trade execution.

Full Trade matching statement (PDF)

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