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ATB’s new GIC now available to investors+ {. D I. {$ U1 L# l
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' p! n9 ~3 A0 r/ J' w3 E/ ?edmontonjournal.comSeptember 1, 2009Comments (1)
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8 i. ~) S. T- N% e: ?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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) ~- f+ {3 c9 Q* R" o4 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 $7 billion, ATB said at the time.
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.+ ]! `/ ^9 \8 C$ J" h
2 U, o6 m# a& k }0 _* y) |“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.”; B" u, Y) \1 x# J# _
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The GICs will be available for a limited time only. |
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