One of the five dominant universal banks in Canada Prudent credit risk management High systemic importance in the Canadian banking system Growing, though still manageable, exposure to the increasingly leveraged Canadian household sector Higher exposure to commercial real estate lending through the acquisition of U.S.-based Marshall&Ilsley Fairly high dependence on wholesale funding Standard&Poor's Ratings Services' ratings outlook on Bank of Montreal (BMO) is stable, reflecting our expectations that the bank will maintain a risk profile consistent with the current rating through continued favorable asset quality metrics, prudent balance-sheet management, a still-adequate risk-adjusted capital (RAC) ratio supported by earnings generation, and a funding and liquidity profile that benefits from a well-established core deposit franchise though wholesale funding
