【出版时间及名称】：2010年加拿大银行业前景展望
        【作者】：TD newcrest证券
        【文件格式】：pdf
        【页数】：67
        【目录或简介】：


Table of Contents
Investment Overview …...………………………………….…………………… 3
Executive Summary …...…..……………………………….…………………… 4
Favourable Sensitivity to Rising Rates..….....……….……..………………….. 7
Changing Accounting and Capital Standards……………….……………….. 12
Accounting Standards/IFRS…...………………………………………….. 13
Capital Standards….………………..……………………………………... 19
Peaking Credit Cycle…..………………..……………………………………... 33
Banks vs LifeCos – we Favour the Latter…………….………...…………….. 38
Operating Outlook…….……………….………………………………………. 41
Valuations……….…….……………….………………….……………………. 48
Table of Comparables .……………….………………….……………………. 51
Company Profiles
Bank of Montreal (BMO)..…….……………………………….………...... 52
Bank of Nova Scotia (Scotiabank)….……………………………………... 53
Canadian Imperial Bank of Commerce (CIBC)……………………......... 54
National Bank of Canada (National)…………………..………………..... 55
Royal Bank of Canada (Royal)…………………………………………..... 56
Appendix 1: Assumptions Around Rate Sensitivity Analysis – Securities..... 57
Appendix 2: Assumptions Around Rate Sensitivity Analysis – Loans …....... 58
Appendix 3: Assumptions Around Rate Sensitivity Analysis – Deposits ....... 59
Justifications and Key Risks to Target Prices ..…………………………........ 60
APPENDIX A: IMPORTANT DISCLOSURES …………………………….. 62