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ATB’s new GIC now available to investors
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& `# e+ w5 K0 cedmontonjournal.comSeptember 1, 2009Comments (1)
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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.2 {$ _$ c* a$ h! S/ W; D
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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.) t) w8 G( j- h# U5 G3 d2 D
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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 $7 billion, ATB said at the time.
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2 F9 G: K8 ?3 F$ VFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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; c. `3 |6 J* L. G+ A. t“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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5 Q2 w: b# N2 H+ ?“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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9 D, s+ o# V! c4 pThe GICs will be available for a limited time only. |
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