Schedule II Banks definition

Schedule II Banks means those financial institutions which are listed on Schedule II to the Bank Act.
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Schedule II Banks means foreign bank subsidiaries authorized under Schedule II of the Bank Act to accept deposits. Foreign bank subsidiaries are controlled by eligible foreign institutions.
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Schedule II Banks means foreign bank subsidiaries authorized under the Bank Act to accept deposits, which may be eligible for deposit insurance provided by the Canadian Deposit Insurance Corporation. Foreign bank subsidiaries are controlled by eligible foreign institutions.
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Examples of Schedule II Banks in a sentence

  • At least one but not more than two Canadian Banks which are Schedule II Banks or Schedule III Banks under the Bank Act (Canada) to be designated by the Canadian Agent and the Canadian Borrowers (with the consent of each such Canadian Bank).

  • Notwithstanding anything to the contrary contained in this Agreement, participating interests in, and rights and obligations with respect to, Canadian Advances and Canadian Commitments may be granted or assigned only to Schedule I Banks, Schedule II Banks, Schedule III Banks or a Person established under the laws of Canada or any province or territory thereof that is authorized to carry on business in Canada pursuant to Part XII of the Bank Act (Canada).

  • Allocations and reallocations of Commitments of Canadian Schedule I Banks and Canadian Schedule II Banks and their Designated Bank Affiliates pursuant to this Section shall be made ratably among the Canadian Banks in accordance with their respective Maximum Canadian Commitment Amounts.

  • Construction loans for purpose built rental apartments and commercial buildings Mortgage financing to support the construction of purpose built rental apartments and commercial buildings is provided on a strictly limited basis by only a few large financial institutions, primarily a few of the Schedule I and Schedule II Banks and some Trust Companies.

  • Schedule II Banks Investing in the debt of Schedule II Banks offers the opportunity to marginally increase investment returns compared to investing in similar debt of Schedule I Banks, yet at the same time maintaining or even increasing the credit quality of the portfolio.

  • Investments in securities issued by Schedule II Banks and Trust companies must:• Be fully and unconditionally guaranteed as to principal and interest by the parent bank, and;• Have a maximum term to maturity of no more than five years.

  • Moody’s Investors Service, a credit rating agency.One Investment: Prudent Person Rule: Safekeeping:S&P: S&P/TSX Composite Index: Schedule I Banks: Schedule II Banks: Schedule III Banks: Weighted Average Maturity:Co-mingled investment program that guarantees regulatory compliance with the Municipal Act, which is specifically designed for Ontario municipalities, which is jointly operated by LAS and CHUMS Financing Corporation.

  • I Banks, Schedule II Banks, Schedule III Banks or a Person established under the laws of Canada or any province or territory thereof that is authorized to carry on business in Canada pursuant to Part XII of the Bank Act (Canada).

  • Schedule II Banks: are foreign bank subsidiaries authorized under the Bank Act to accept deposits, which may be eligible for deposit insurance provided by the Canada Deposit and Insurance Corporation.

Related to Schedule II Banks

  • UK Non-Bank Lender means where a Lender becomes a Party after the day on which this Agreement is entered into, a Lender which gives a Tax Confirmation in the Assignment Agreement or Transfer Certificate which it executes on becoming a Party.

  • Account Bank Agreement means the account bank agreement dated 15 August 2018 between the Issuer, the Trustee and The Bank of New York Mellon, London branch as the same may be amended, restated, amended and restated, novated, varied, supplemented, substituted, assigned, extended or otherwise replaced or redesignated from time to time;