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ATB’s new GIC now available to investors2 t: _& q( K$ o' s4 t; I
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# o% }0 N4 b- Z/ ~9 y* uedmontonjournal.comSeptember 1, 2009Comments (1)1 ~2 A- S* B, g3 o6 E9 r0 g* k
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EDMONTON — 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.
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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.9 I4 w( e: t9 N
x" [, P% T2 SThe 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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8 p4 }+ r, z4 ^7 `Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.% V# [2 Z K& @+ e/ _8 |0 N' ]) D
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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.
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“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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The GICs will be available for a limited time only. |
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