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ATB’s new GIC now available to investors/ Y6 N: }0 V T c3 R
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edmontonjournal.comSeptember 1, 2009Comments (1). @' B8 [ y* |
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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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$ C9 x; @8 X t+ T) qThe 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.: j9 \. u) N, z Y; R% n6 P
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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 $7 billion, ATB said at the time.
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* P F8 w' d, O @2 `Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.' a& G. \& L' p" l, @9 D$ @
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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.5 `9 q& Y6 A T1 o
: q) P) E, f; u( Z“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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7 }3 o0 k7 j3 YThe GICs will be available for a limited time only. |
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