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ATB’s new GIC now available to investors5 h9 _; G0 I4 ^9 S
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edmontonjournal.comSeptember 1, 2009Comments (1)$ q+ Z9 b& h: E; h0 s( f: x4 b
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7 i8 } z. @* D: ^ iEDMONTON — 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.4 {0 S3 u4 J1 G3 ^% c
. a8 x/ w9 w! {" s+ w& kThe 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.7 N; I" S: K3 _) f8 v; _2 G
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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 $7 billion, ATB said at the time.
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& g; J4 `9 b3 b5 ]( TFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.7 F5 k; {% D1 W& T7 ^5 q$ \5 I
5 A7 z4 v; Y# G. R; d“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO., x! C6 Y% H% g9 l
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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.”& a, \$ l% ]. b- M0 D
. ]& e- v' v j9 x& c: E$ o3 ]The GICs will be available for a limited time only. |
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