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To retain or redeem rate-reset preferred shares? Add to ...

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Canada’s banks must soon decide what to do with the deluge of preferred shares that are about to come due.

In the heat of the financial crisis, the banks sold a slew of so-called rate-reset preferred shares. By the end of 2014, about $7-billion worth of these securities will hit their five-year anniversary – dates at which the banks must decide if they want to keep them in the market, or cough up the cash to redeem them.

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