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ATB’s new GIC now available to investors
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. o2 E) @* y" O Yedmontonjournal.comSeptember 1, 2009Comments (1)
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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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( T% F; n& ] e" N. e+ n7 jThe 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.
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) `6 Y3 y- A6 G3 M0 ^# cThe 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 $7 billion, ATB said at the time.* @! ?- i" |9 i6 F( R
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.! D2 \: F9 A- Z0 j6 I7 U
( u) y; ^4 Y/ g" F2 v1 ?7 B# F“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.8 j- k/ U0 v# @( A1 S C! D' {0 ^2 {$ @
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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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/ S% m- M) I% f) CThe GICs will be available for a limited time only. |
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