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ATB’s new GIC now available to investors( l. X) ^# H8 u
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5 O! Y9 ^$ p0 `. ^+ @& t/ O9 ]$ ~/ Sedmontonjournal.comSeptember 1, 2009Comments (1); h+ O: u0 \) O
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7 k, {( K+ h, `2 ~2 ^# wEDMONTON — 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.4 t) A: Z7 E2 H6 M( B
* v( P+ C+ N$ h% n0 `9 l1 E4 MThe 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./ d g4 _( m- D
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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 $7 billion, ATB said at the time. p7 L. ^6 \! Q5 _
6 T; w( x8 E( Z9 D7 ?, W5 vFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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6 x( L. n7 d \/ g; H“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.( O: M6 }- n5 p9 c$ j/ Y
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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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