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ATB’s new GIC now available to investors0 m" M h' A5 c& G# g8 [. w3 p
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. u7 L' n- |6 bedmontonjournal.comSeptember 1, 2009Comments (1)9 O! I+ D M6 H6 [7 b. I
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2 ?6 A" B9 J S4 r/ m3 ~, JEDMONTON — 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.4 g- Q8 b% O( v# _6 A7 ?* E$ I
0 ~' |% {3 U% i. b! ZThe 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 $7 billion, ATB said at the time.
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# |" t2 p/ @2 i# sFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.0 H$ r( l% v6 v' F t# L- C4 L
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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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& G6 z. _% K2 V' ~The GICs will be available for a limited time only. |
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