Fixed-income Investors
Financial information
Covered bonds
Access our most recent reports about our covered bonds.
Sustainable bonds
Learn more about how our sustainable bonds finance environmental and social initiatives, their positive impacts and their frameworks.
Senior debt
Find documents and information on bail-in senior debt emissions and related terms.
Credit ratings
The Fédération des caisses Desjardins du Québec receives top credit ratings, reflecting the solidity of Desjardins Group.
| Types of debt and financing | Moody’s | S&P | DBRS | Fitch |
|---|---|---|---|---|
| Counterparty/Deposits | Aa1 | A+ | AA | AA+ |
| Short-term debt | P-1 | A-1 | R-1 (high) | F1+ |
| Medium- and long-term debt, senior excluded from bail-in regime | Aa2 | A+ | AA | AA+ |
| Medium- and long-term debt, senior | A1 | A- | AA (low) | AA- |
| NVCC (non-viability contingent capital) subordinated notes | A2 | BBB+ | A (low) | A |
| Covered bonds | Aaa | – | – | AAA |
| Outlook | Stable | Stable | Stable | Stable |
Current programs
| Program | Currency | Limit |
|---|---|---|
| Commercial paper | ||
| Canadian market | Canadian dollar (CAN) | None |
| U.S. Market | US dollar (USD) | USD$20 billion |
| European market | Euro (EUR) | EUR€5 billion |
| Medium-term | ||
| Canadian market | Canadian dollar (CAN) | CAN$13 billion |
| European and U.S. markets | Multi | EUR€15 billion |
| Australian market | Australian dollar (AUD) | AUD$3 billion |
| NVCC capital subordinated debt | Canadian dollar (CAN) | CAN$9 billion |
| Covered bonds | Multi | CAN$32 billion |
Issuers
Fédération des caisses Desjardins du Québec is a federation of financial services cooperatives owned by the Desjardins caisses.
It is responsible for orientation, framework, coordination and development activities for Desjardins Group. It also serves as a financial agent on the Canadian and international markets and offers its member caisses various technical, financial and administrative services. It also offers financing, banking and international services to institutional organizations (governments, municipalities, school service centres, etc.), large and medium-sized businesses and various Desjardins Group entities.
Fédération des caisses Desjardins du Québec acts as treasurer for Desjardins Group and as its financial agent on Canadian and international markets.
As treasurer, Fédération des caisses Desjardins du Québec develops and implements liquidities and asset liability management strategies for Desjardins Group. It is also responsible for meeting the liquidity needs of Desjardins Group, as well as increasing and diversifying its sources of funds on national and international markets.
As financial agent for Desjardins Group, Fédération des caisses Desjardins du Québec represents its member caisses with Payments Canada. On behalf of Desjardins Group, it guarantees and assumes the clearing for banking instruments with the Bank of Canada and assumes settlement of securities and derivatives negotiated on Canadian and international markets.