TOTAL ASSET-TO-CAPITAL RATIO - TAC
Leverage covenant, placed by the Office of the Superintendent of Financial Institutions (OSFI), on Canadian institutions. Not a risk-adjusted leverage gauge, it is determined by adding all the assets divided by the capital. All Canadian banks are subject to a maximum ratio of 23 times. Also called TAC Multiple.
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The amount of time for a business to receive payments owed.
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