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ATB’s new GIC now available to investors+ O8 f7 X% v$ |1 ^0 a. ]
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edmontonjournal.comSeptember 1, 2009Comments (1)
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. u* n' V# }1 X0 ]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." v2 G: p' O( q5 o
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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. h5 j7 T$ H p: A e8 L
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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.' E, l n5 B9 ^( M; {9 j# g
6 d' z2 M% W2 m2 _5 W9 LFunds 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.
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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.”8 ?2 a+ n2 v2 [% t
8 K. Y5 S' Z; ~# ?& C6 SThe GICs will be available for a limited time only. |
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