Business Context and Reporting Period
This Form 6-K filing by The Bank of Nova Scotia (Scotiabank) and Scotiabank Covered Bond Guarantor Limited Partnership covers the month of August 2016, with a filing date of August 26, 2016. The report relates to the Registrants' U.S.$25,000,000,000 global covered bond program registered under the National Housing Act (Canada) and the Canadian Registered Covered Bond Programs Guide.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document is a procedural filing regarding the amendment of legal agreements rather than a financial performance report.
Material Changes
The primary material change reported is the execution of three amending agreements dated August 22, 2016, to update the Registrants' covered bond program documentation:
- Amending Agreement to Mortgage Sale Agreement: Revises the agreement originally dated January 7, 2014.
- Amending Agreement to Servicing Agreement: Revises the agreement originally dated July 19, 2013.
- Amending Agreement to Intercompany Loan Agreement: Revises the agreement originally dated July 19, 2013.
These amendments were made to provide program updates and are incorporated by reference into the Registrants' Form F-3 registration statement.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, financial guidance, outlook, or specific risk factors. The document focuses solely on the legal execution of the aforementioned amendments.
Investor Verification Checklist
- Verify the terms of the three amending agreements (Exhibits 4.1, 4.2, and 4.3) to understand specific program updates.
- Confirm the continued registration status of the U.S.$25 billion covered bond program with Canada Mortgage and Housing Corporation (CMHC).
- Review the original Mortgage Sale, Servicing, and Intercompany Loan Agreements to assess the scope of the amendments.