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ATB’s new GIC now available to investors. H! ?, o- Z; o1 q% K$ b& R/ o
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, m! m6 g# [: T1 H( ]. Aedmontonjournal.comSeptember 1, 2009Comments (1)1 R- d9 ?+ r" ]1 e* H
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2 e" Z9 O* H7 c' R/ w; _( \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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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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; e7 ^* J s" G- }/ I$ I2 MThe 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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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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# `6 d& t* r5 d+ H( r" z“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.! t! o# c- t& Q! ~* G
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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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, A6 N7 W6 L/ B1 xThe GICs will be available for a limited time only. |
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