Comerica to Transfer Canadian Liabilities to Fifth Third
Canada Gazette, Part I, Volume 159, Number 49: MISCELLANEOUS NOTICES
Comerica Bank intends to apply to the Minister of Finance on or after 2025-12-20 to transfer all or substantially all liabilities of its Canadian business to Fifth Third Bank, National Association, contingent on a merger and required regulatory approvals. If approved and closing conditions are met, Comerica’s Canadian assets and obligations would become those of Fifth Third, affecting customers, creditors and counterparties; objections may be submitted to the Office of the Superintendent of Financial Institutions (OSFI).
Summary
Summary#
Comerica Bank says it will apply to the Minister of Finance (Canada) to transfer most or all of the liabilities connected with its business in Canada to Fifth Third Bank, National Association. The application is planned for on or after December 20, 2025, and the transfer would follow a merger of the two banks if approvals and other closing conditions are met.
What it does#
- Seeks approval under the Bank Act (Canada) to move all or substantially all liabilities from Comerica Bank’s Canadian business to Fifth Third Bank, National Association.
- Says that, once closing steps and consents are satisfied, Comerica Bank will merge into Fifth Third Bank, National Association and the Canadian assets and liabilities of Comerica will become those of Fifth Third.
- Makes clear the transfer depends on receiving the required regulatory approvals and other consents, and is not guaranteed.
- Notes that anyone who objects can write to the Office of the Superintendent of Financial Institutions (Canada) at 255 Albert Street, 12th Floor, Ottawa, Ontario K1A 0H2.
Who's affected#
- People and businesses with accounts, loans, deposits, or other dealings with Comerica Bank in Canada.
- Creditors and counterparties of Comerica Bank’s Canadian business.
- Employees or branches tied to Comerica’s Canadian operations (possible effects, but the notice does not spell these out).
- It is not clear from the notice whether individual account terms, branch hours, or staff roles will change — that would depend on the final deal and approvals.
Why it matters#
- If approved, the legal owner of Comerica’s Canadian obligations would become Fifth Third Bank, National Association, which could mean different contact points, customer service arrangements, or contract administrators for affected customers.
- The notice creates uncertainty until regulators decide. The publication itself does not mean approval will be given; the decision rests with regulators and the Minister of Finance (Canada) after their review.
Key topics
Source: Canada Gazette