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ATB’s new GIC now available to investors6 U9 p. O: h2 f: Y0 n
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edmontonjournal.comSeptember 1, 2009Comments (1)
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0 _3 `# V: `0 b. v. ]+ X# fEDMONTON — 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.; S' P# j# N5 m" \6 j' k7 }
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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.
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The 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 $7 billion, ATB said at the time.5 V9 M( u. d7 r% U1 M
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.0 y, T9 O7 y9 Q4 T5 k( y8 A" L
/ r4 [( w" u7 R$ t' Q. x“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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! B0 r7 ]3 [1 lThe GICs will be available for a limited time only. |
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