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Equitable Bank looks to grow USD GIC market in Canada with launch of new products
Equitable Bank looks to grow USD GIC market in Canada with launch of new products ...
About this update from Eqb Inc
[{"type":"text","content":"\n \n \n \n Equitable Bank looks to grow USD GIC market in Canada with launch of new products\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Foreign currency GIC investments provide a unique, secure and stable option for diversified portfolios\n \n \n \n \n TORONTO\n \n ,\n \n Dec. 7, 2020\n \n /CNW/ - Equitable Bank, a wholly owned subsidiary of Equitable Group Inc. (TSX: EQB) (TSX: EQB.PR.C), today announced it has launched U.S. currency GICs, further building out its suite of competitive investment options for Canadians. These new GICs are available exclusively through Investment Advisors and provide investors with high-rate U.S. dollar investment options -- from cashable to 10-year – that challenge the limited offering that's traditionally been available in the advisor market.\n \n \n \n \n \n \n \n \n \n GICs are an effective cash management solution for a range of needs, including currency diversification for Canadians who also hold U.S. assets. GICs act as a strong risk mitigation tool that ensure stability and earnings potential, while simultaneously providing a guaranteed investment option that instills confidence — and grows wealth.\n \n \n \"This year, we have considerably grown our suite of wealth management products and, in turn, helped to create an entirely new market for foreign currency investments in\n \n Canada\n \n ,\" said\n \n \n Damon Knights\n \n , Head of Wealth Solutions at Equitable Bank\n \n . \"With the addition of U.S. dollar GICs, along with our U.S. high interest savings accounts that were introduced in April, we're helping forge a new wealth path for Canadians – one that provides secure, guaranteed and competitive options for foreign currency investments.\"\n \n \n The addition of U.S. GICs to Equitable's portfolio follows the expansion of deposit insurance coverage announced by Canada Deposit Insurance Corporation (CDIC) in\n \n April 2020\n \n , which allows eligible deposits held in foreign currencies at member institutions to be covered for CDIC insurance. For more information, visit\n \...