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ATB’s new GIC now available to investors
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9 d# L; X) H ?7 ^; ` J( {9 Cedmontonjournal.comSeptember 1, 2009Comments (1)6 j' s% t1 c& [0 c$ \5 O& C3 B
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# v) h. ^5 f# m- y5 v& U) }/ @4 ~+ \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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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 $7 billion, ATB said at the time. D, D. {3 b) J5 U5 M& ]
7 b' c3 R$ e, z, S5 GFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.2 t R C& k) T1 A* o; ?- N! P
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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.1 W& r8 {, f$ C- A2 q/ f
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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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4 u4 h( c/ P1 |The GICs will be available for a limited time only. |
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