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ATB’s new GIC now available to investors
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edmontonjournal.comSeptember 1, 2009Comments (1)) D. F7 F& D( |) I9 C! T9 F3 T, e
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8 Q5 w$ |6 k3 k, F: b. CEDMONTON — Tuesday marked the first day investors could purchase a new GIC that ATB Financial says will help fellow Albertans and businesses hurting due to tight credit markets.9 `( m, l& w0 q* F j
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The ATB Growth Note will be a five-year guaranteed investment certificate with a 4.25-per-cent interest rate, announced the provincial Crown corporation and Edmonton-based financial institution on Tuesday.3 X4 ~+ n& u5 E, ]0 w- B4 p
& Z! d! ^# T' D/ F3 _; B& [8 FThe initiative was first revealed in July as part of a commitment by ATB to increase its lending capacity to small business to offset the effects of tight credit markets by as much as $15 billion. Changes to ATB’s notional capital requirements will increase its lending capacity by about $8 billion and the investment deposit product would raise another $7 billion, ATB said at the time.
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.. U/ e& d' m! C8 @2 w2 s
) N- C8 ]; ?: k# v7 M1 F- H$ _“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
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. L: v# X7 l* B& R3 {6 D# eThe GICs will be available for a limited time only. |
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