Bank Of Montreal 6-K, filed Feb 23, 2021
Bank Of Montreal (BMO)
About this 6-K
Bank Of Montreal filed this 6-K on February 23, 2021.
FORM6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
| For the month of: February, 2021 | Commission File Number: 001-13354 |
|---|
BANK OF MONTREAL
(Name of Registrant)
| 100 King Street West<br> <br>1 First Canadian Place<br> <br>Toronto, Ontario<br><br><br>Canada, M5X 1A1 | 129 rue Saint-Jacques<br> <br>Montreal, Quebec<br> <br>Canada, H2Y 1L6 | |
|---|---|---|
| (Executive Offices) | (Head Office) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☐ Form 40-F ☑
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| BANK OF MONTREAL | |||||
|---|---|---|---|---|---|
| By: | /s/ Tayfun Tuzun | ||||
| Name: | Tayfun Tuzun | ||||
| Title: | Chief Financial Officer | ||||
| Date: February 23, 2021 | By: | /s/ Barbara M. Muir | |||
| Name: | Barbara M. Muir | ||||
| Title: | Corporate Secretary |
EXHIBIT INDEX
| Exhibit | Description of Exhibit | |
|---|---|---|
| 99.1 | Earnings Coverage Ratio |
EX-99.1
Exhibit 99.1
BANK OF MONTREAL
EXHIBIT TO FINANCIALSTATEMENTS FOR THE QUARTER ENDED
JANUARY 31, 2021
EARNINGS COVERAGE RATIO
The following consolidated financial ratios for the Bank, are calculated for the 12 months ended January 31, 2021 and October 31, 2020*.*
| 12 Months EndedJanuary 31, 2021Actual | 12 Months EndedOctober 31, 2020Actual | |||
|---|---|---|---|---|
| Interest coverage on<br><br><br>subordinated indebtedness | 28.40 times | 24.94 times |
In calculating the interest coverage ratios, foreign currency amounts have been converted to Canadian dollars using rates of exchange as at the end of each month. For the 12 month period ending January 31, 2021 and October 31, 2020 the average monthly exchange rates were $1.3361 per US$1.00 and $1.3441 per US$1.00, respectively.
The Bank’s earnings before interest on subordinated indebtedness and income tax for the 12 months ended January 31, 2021 were $7,192.12 million, which is 28.40 times the Bank’s aggregate interest on subordinated indebtedness requirement for this period. The Bank’s earnings before interest on subordinated indebtedness and income tax for the 12 months ended October 31, 2020 were $6,612.76 million, which is 24.94 times the Bank’s aggregate interest on subordinated indebtedness requirement for this period.
The amounts and ratios reported above are derived from information in the unaudited interim consolidated financial statements for the three months ended January 31, 2021 and the consolidated financial statements for the year ended October 31, 2020.