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ATB’s new GIC now available to investors @* B2 H( T0 c+ u$ U$ ]7 D
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edmontonjournal.comSeptember 1, 2009Comments (1)$ R" a7 Q7 |0 X1 V, u2 ^9 Y
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% @+ J" w% ~/ `. W% m7 g; DEDMONTON — 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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4 R1 b7 x2 _1 _2 e5 GThe 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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6 s ]( r* ]1 b a- kThe 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 $7 billion, ATB said at the time.
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) W' w- k H* ~+ [" k/ qFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.- H3 M/ a' r' \6 X) _
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.5 w' S- {. U9 b2 |
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“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”: @. {2 N8 P$ R$ L5 w1 n7 ^- G
3 J I- c$ [/ s# ^; }The GICs will be available for a limited time only. |
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