{"id":22367,"date":"2013-06-28T00:04:51","date_gmt":"2013-06-28T04:04:51","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=22367"},"modified":"2013-06-28T00:04:51","modified_gmt":"2013-06-28T04:04:51","slug":"etc-to-become-bank","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=22367","title":{"rendered":"ETC To Become Bank"},"content":{"rendered":"<p>Equitable Trust Company <a href=\"http:\/\/phx.corporate-ir.net\/phoenix.zhtml?c=177447&#038;p=irol-newsArticle&#038;ID=1833654&#038;highlight=\">has announced<\/a>:<\/p>\n<blockquote><p> that it has received approval from the Minister of Finance to continue its wholly owned subsidiary, The Equitable Trust Company, as a Schedule I bank called Equitable Bank in English and Banque \u00c9quitable in French, effective July 1, 2013.<\/p>\n<p>Converting The Equitable Trust Company into Equitable Bank is part of a strategy to strengthen the Equitable brand, established in 1970, to appeal to a new generation of financial services customers.<\/p>\n<p>&#8220;Equitable&#8217;s conversion to a Schedule I bank will elevate our standing with Canadian depositors, deposit brokers, borrowers and mortgage brokers,&#8221; said Andrew Moor, President and Chief Executive Officer. &#8220;While the conversion does not alter our business model, market focus, required capital levels, risk tolerance or proven economics, it does represent an important evolution that should improve our long-term competitiveness and growth prospects in the Canadian financial services industry.&#8221;<\/p>\n<p>Equitable announced its intention to apply to the Office of the Superintendent of Financial Institutions Canada (&#8220;OSFI&#8221;) and to the Minister of Finance, Canada for consent to make this change in February 2013.<\/p><\/blockquote>\n<p>Equitable Trust is the proud issuer of ETC.PR.A a 7.25%+453 FixedReset <a href=\"http:\/\/www.prefblog.com\/?p=7576\">announced in August, 2009<\/a>. This issue is not tracked by HIMIPref&trade; because it is not rated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Equitable Trust Company has announced: that it has received approval from the Minister of Finance to continue its wholly owned subsidiary, The Equitable Trust Company, as a Schedule I bank called Equitable Bank in English &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-22367","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22367"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/22367\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}