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ATB’s new GIC now available to investors
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" s$ E1 Q0 Y2 i. U5 @8 n1 c9 }: Kedmontonjournal.comSeptember 1, 2009Comments (1)! t2 h, x$ o3 ]
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' T9 }, k+ ~/ ?& ^3 ?2 C0 r* \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.) F4 X1 v# A* h' V) p3 H( v
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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 $7 billion, ATB said at the time.9 q3 Q, d. c7 @* x# X
4 L' ?+ c! C7 o; P; D* w/ a; mFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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2 _4 ~8 O) |7 [9 ^ L! Y' @1 c% w9 C9 t* ]“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
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, ^0 u2 o+ @, _; U$ A“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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" i6 l2 H. v- ?The GICs will be available for a limited time only. |
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