Home Capital says situation more stable
TORONTO — Home Capital Group says the outflow of customer deposits has slowed in recent days and it continues to have access to sufficient funds, including $600 million that’s undrawn on a line of credit from the HOOPP retirement fund.
The Toronto-based mortgage company (TSX:HCG) says it had a total of $1.51 billion in available liquidity and credit capacity as of Friday, down $50 million from the previous day. The company says deposits at Home Trust’s highinterest savings accounts were stable at about $125.4 million.
There was another $150.6 million in savings deposited with its Oaken Financial subsidiary and $12.44 billion deposited with guaranteed investment certificates, both down slightly from Thursday.