How to become a registered issuer

Application Requirements

CMHC may register an issuer and a program if, in the Corporation’s opinion, all of the requirements in Part I.1 of the NHA have been met.

Please refer to the Canadian Registered Covered Bonds Program Guide.

Application Forms

Issuers must complete Annex A and Annex B of the Canadian Registered Covered Bond Programs Guide to become a registered issuer. **Important: To use this interactive PDF, right click (Ctrl + click on Mac) the link to save the file, and then open it in Adobe Acrobat

Issuers must complete Annex C of the Canadian Registered Covered Bond Programs Guide to register a covered bonds program. **Important: To use this interactive PDF, right click (Ctrl + click on Mac) the link to save the file, and then open it in Adobe Acrobat

Fees

CMHC charges fees for issuers participating in the Covered Bond Program. For 2024, the annual fee and application fee will be as follows:

• The annual fee is $175,000 per issuer.
• The application fee to become a registered issuer and registered program is $100,000.

As such, the application fee and the annual fee in the initial year for a new issuer will be $275,000 in total.

Annual fees and application fees are revisited each year to ensure they are commensurate with the costs incurred by CMHC with respect to the administration of the program.