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ATB’s new GIC now available to investors/ q4 j8 Y1 ]( E; u8 @' k
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edmontonjournal.comSeptember 1, 2009Comments (1)
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e8 S1 |% O! }( o7 e6 A1 |5 m$ REDMONTON — 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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^' {# Y4 D8 s" bThe 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.' Y D/ x7 }4 e. a
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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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3 g- J# k6 H; E" [: tFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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6 m3 k! R0 ^+ w( ^- g! l) L4 u“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.3 z2 F) k% I7 o- W# v2 e- D* v6 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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. ]' `( Z! F8 G/ h! ]" W2 iThe GICs will be available for a limited time only. |
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