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ATB’s new GIC now available to investors: j) O) }" H! ?
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edmontonjournal.comSeptember 1, 2009Comments (1) K8 v& M5 j9 }( Z# x
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) P6 l0 a" O7 b# G8 t& ^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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7 M; a' b) b2 p0 _9 v. HThe 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 $7 billion, ATB said at the time.
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) W8 O* v; _% ]* i! X( vFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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6 S4 N A- E! s# {* n$ F“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.”9 w2 A. e& r, W7 ~9 d
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The GICs will be available for a limited time only. |
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