BMO Launches Silver Deposit Program
Allows investors to hold physical, allocated silver instead of paper or certificates
TORONTO, ONTARIO--(Marketwire - Nov. 26, 2012) - BMO Financial Group is expanding its Canadian precious metals deposit service offering with the addition of the BMO Vaulted Physical Silver Deposit Program. BMO launched its Gold Deposit Program in September 2011.
"Since the launch of our Gold Deposit Program, there has been an overwhelming amount of demand for real physical precious metals products in the Canadian marketplace," said Simon Carling, Managing Director, BMO Capital Markets. "Physical silver offerings that completely avoid the use of derivatives, unallocated metal, or certificates are surprisingly difficult to find-which may explain why they are so highly sought after."
BMO's vault-based programs are designed to take the guesswork out of a physical precious metal investment. All programs are backed on an ounce-for-ounce basis with real, physical bullion at all times.
Highlights of this program:
- All bullion is separated and identifiable at a secure and approved vault facility in Canada
- The bullion cannot be loaned, swapped or used for other purposes
- All bullion is unencumbered
- All bullion is segregated from the assets of BMO Financial Group
- No annual storage fees or MER. Withdrawal and delivery fees may apply
- Physical delivery is available upon request
For more information please visit: www.bmobullion.com.
To learn more, clients should contact their Investment Advisor and obtain a copy of the Disclosure Statement and Terms and Conditions for the Program. Neither Bank of Montreal, BMO Nesbitt Burns nor any of their respective affiliates provide any guarantee as to the value of silver under this Program. The silver under this Program will not constitute deposits that are insured under the Canada Deposit Insurance Corporation Act or any other deposit insurance regime.
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American financial services provider, with 2,200 employees operating in 29 offices worldwide, including 16 in North America and offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group, one of the largest diversified financial services providers in North America with total assets of $542 billion and more than 46,000 employees as at July 31, 2012.
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