Googled NVCC and got the following….…..
Non-viability contingent capital (NVCC) securities……..Subordinated debt or preferred shares that are issued by banks and can be converted into common stock if a trigger event occurs.
What are bail-in and NVCC bonds? Bail-in capital bonds and non-viable contingent capital (NVCC) bonds are distinct from existing debt issued by financial institutions primarily because they are both designed to convert into common equity in the event that regulators determine an institution is no longer viable.
Want to read more:
https://www.mondaq.com/canada/Finance-and-Banking/178502/The-Implementation-Of-The-New-Non-Viability-Contingent-Capital-Requirements-Of-The-Basel-III-Rules
People also ask “Can banks seize your deposits?”
To be clear, depositor funds and assets can be legally confiscated by the bank to maintain its solvency. This is called a “bail-in,” and it affects every depositor in the US. If you are like most Americans, you too are a depositor, meaning that your funds are vulnerable to confiscation.
Dec 21, 2018
Can the Canadian government take your money from the bank account?
When you deposit money into your bank savings account, you in effect are lending money to the bank. … What this means is that if a Canadian bank starts to fail, it would be allowed to seize the money in your bank account or wipe out your shareholder value if you happen to own that bank’s stocks to pay its bills.
Feb 10, 2017
Royal Bank of Canada to redeem NVCC subordinated debentures
http://www.rbc.com/newsroom/news/2020/20200424-subdebentures.html
http://td.mediaroom.com/2020-05-19-TD-Bank-Announces-Redemption-of-2-692-Medium-Term-Notes-Non-Viability-Contingent-Capital-NVCC
Bank of Montreal also has NVCC
https://newsroom.bmo.com/index.php?s=2429&item=129179
TD Bank Announces Redemption of 2.692% Medium Term Notes (non-Viability Contingent Capital (NVCC)
http://td.mediaroom.com/2020-05-19-TD-Bank-Announces-Redemption-of-2-692-Medium-Term-Notes-Non-Viability-Contingent-Capital-NVCC
CIBC Announces Results of Conversion Privileges of NVCC Preferred Shares Series 41
http://cibc.mediaroom.com/2020-01-20-CIBC-Announces-Results-of-Conversion-Privileges-of-NVCC-Preferred-Shares-Series-41
For Scotia Bank, search NVCC Scotia Bank
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