BMO\u0027s plans for its Bank of the West deal were shaken by changes from OSFI leaving the bank with little choice but to raise capital. Read on
. It also extended the potential range of the buffer to between zero and four per cent, from a prior range of zero to 2.5 per cent.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.
When the deal was first announced last December, BMO chief executive officer Darryl White told analysts during an investor call that the Big Six bank would purchase BNP Paribas SA’s U.S.
“At that time , BMO, just like everyone else, wasn’t aware that we’d be heading into a significant rate hike cycle and that we would be talking about recession risks in 2023, or that OSFI was going to raise the domestic stability buffer in 2022,” D’Souza said
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