The terms of the facility announced Monday include a 0

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iPhone Cases sale Equitable confirmed Wednesday that Royal Bank of Canada, the country largest bank by market capitalization, would also be backing the emergency funding.Home Capital pushes back Q1 earnings airoshock, shareholders meeting’It won’t be a problem’: Home Capital woes ‘not a systemic issue,’ Brookfield CEO saysTerence Corcoran: Home Capital Group didn’t just fall from the edge of a cliff it was pushed all six of Canada largest banks have the confidence to support Equitable Bank, it is evident that our customers, whether they be savers and depositors or borrowers should have similar confidence, said Andrew Moor, president and chief executive of Equitable Bank, in a statement on Wednesday.Last week, Equitable saw an but manageable decrease in its deposit balances which helps the company fund its mortgage lending of roughly $225 million between April 26 and April 28, representing 2.4 per cent of its total deposit base.In turn, Equitable started reaching out to the Big Six banks as in case its liquidity became eroded further, Moor told the Financial Post on Monday.Equitable already had a $1 billion credit facility with one of the banks, said Moor. This new funding with the syndicate adds $2 billion on top of that, but at more costly terms.The terms of the facility announced Monday include a 0.75 per cent commitment fee and a 0.5 per cent standby charge on any unused portion of the facility, Equitable said Monday. The interest rate on the funding facility is approximately 60 basis points over the cost of Equitable Group Guaranteed Investment Certificates (GICs) one of the mortgage lender sources of funding, it added.Ratings agency DBRS said in a statement Wednesday the funding facility terms still allow (Equitable) Group to deliver sound financial results, if drawn upon. iPhone Cases sale

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