Bank of Montreal (BMO) and Toronto-Dominion Bank are each backing split-denomination ABS transactions of their Canadian credit-card receivables.

The notes in BMO's Master Credit Card Trust II 2016-3 are divided between a Class A stack of U.S. dollar-denominated tranche maturing in 2022, with a 5.5% subordination. The Class B Canadian-dollar notes carry a 3.5% subordination. At the bottom of the capital stack is a series of Class C notes, also in Canadian currency.

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