Comerica Bank to Transfer Canadian Liabilities

Summary#

This notice says Comerica Bank plans to ask the Minister of Finance (Canada) on or after December 20, 2025 for permission to move its Canadian liabilities to Fifth Third Bank, National Association. If approved and the deal closes, Comerica Bank would merge into Fifth Third Bank, National Association and the Canadian business’s assets and liabilities would become those of Fifth Third Bank, National Association. The notice was published in the Canada Gazette on December 6, 2025.

What it does#

• Tells the public that Comerica Bank intends to apply, under the Bank Act, for approval to transfer all or most liabilities tied to its Canadian business to Fifth Third Bank, National Association.
• Says the transfer would happen when the merger closes and any required consents are received. At that point, the Canadian assets, liabilities and obligations of Comerica Bank would become those of Fifth Third Bank, National Association.
• Notes that the transfer depends on the normal application review and the discretion of the Minister of Finance (Canada); publication does not mean approval is guaranteed.
• Gives a way to object: anyone who objects can send a written submission to the Office of the Superintendent of Financial Institutions (Canada) at 255 Albert Street, 12th Floor, Ottawa, Ontario K1A 0H2.

Who's affected#

• Customers and depositors at Comerica Bank in Canada — their accounts and loans could move to Fifth Third Bank, National Association if the transfer is approved.
• Borrowers, creditors and other business counterparties of Comerica Bank in Canada.
• Employees, branches and local operations of Comerica Bank in Canada could be affected, although the notice does not say what will happen to jobs or specific branches.
• Regulators: the Minister of Finance (Canada) and the Office of the Superintendent of Financial Institutions (Canada) will review the application and any objections.

Why it matters#

• If approved, the bank that legally holds and manages Canadian accounts and loans would change. That can affect who you contact for service, who enforces loan terms, and who is responsible for claims.
• Customers and counterparties should watch for communications from the banks explaining any changes to accounts, contracts or service arrangements.
• Anyone with concerns about the transfer had an official route to object before regulators decide. The notice makes clear approval is not automatic.