BMO Joins Defence, Security and Resilience Bank (DSRB) Development Group

Press Release + Noah Note

TORONTO, Feb. 11, 2026 /CNW/ - BMO today announced its participation as a partner bank for the Defence, Security and Resilience Bank (DSRB) Development Group.

BMO's participation supports the development of the DSRB – a proposed multilateral financial institution focused on providing financing mechanisms for defence, security, and infrastructure projects for NATO members and allied nations.

"As the Official Bank of the Canadian Defence Community, we're proud to support efforts like the DSRB Development Group that will strengthen Canadian and Allied defence and security sectors," said Carrie Cook, Global Head of Investment & Corporate Banking, BMO. "We look forward to joining with the DSRB Development Group and other partners to strengthen the industries that support military personnel around the world."

"We're pleased to welcome BMO as a partner," said Kevin Reed, President and COO of the DSRB Development Group. "BMO's participation supports the collaborative efforts of financial institutions toward the establishment of the proposed Defence, Security and Resilience Bank, including market-based financing mechanisms that can support defence, security, and resilience across allied nations."

---

About BMO Financial Group

BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.5 trillion as of October 31, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to approximately 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

---

Noah Note: Add BMO to the growing list of Canadian financial institutions pledging their support to the new DSRB. They join National Bank, RBC, CIBC, Scotiabank and TD in confirming their support, with others expected to follow in the coming week. Both Ontario and British Columbia have put out their bid books in an attempt to swoon a potential choice. I feel the need to mention it is not garunteed Canada will get this, though certainly we are being the most vocal and out there about it.

To recap for the third time this week, for all the new folks… The DSRB envisions itself as a conduit delivering long-term, low-cost financing for defence and dual-use projects backed by the combined credit strength of member states and financial tools from private partners.

The bank will provide AAA-backed loans and guarantees not just to countries looking to finance new procurements, but also to companies looking to strengthen the Western Defence Industrial Base and supply chain.

The bank is owned by the collective member states that sign the charter. As a cost of signing, member states pay an immediate contribution (representing 20% of the bank's funding) to provide initial capital to the bank. This is supported by Callable Capital, which will be backed by the proposed AAA-rating the bank aims to secure through the ownership of its member states.

In theory, this allows member states and industry access to significant capital without having to take on the debt directly. It provides defence-specific financial support that doesn't contain the restrictions, while providing more long-term, diverse financing options.

The bank envisions itself as a global system accessible to NATO members, EU member states, and Indo-Pacific partners. It is not a NATO fund as some media portrays it. It is an open, collective financing instrument that, in theory, would allow anyone deemed eligible.

I feel I should have a draft with that just waiting. I have used that same quote so much recently, and I know this won't be the last. We should expect more financial institutions to announce their support soon. There is certainly pressure to do so.