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ATB’s new GIC now available to investors j) y, P4 n6 l# ?. z* l6 v
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edmontonjournal.comSeptember 1, 2009Comments (1)" ]8 b) A' m# p7 U$ r. d' I
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0 b* V5 {% o4 ?7 v" Z7 F' 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., `$ A; R, y T0 S7 D$ Y6 b
9 }5 F: g" z# }( i" @# v* oThe 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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: S$ D; `5 ^4 G7 G! x- }$ 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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6 Z. @4 S7 J% v! KFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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4 l8 Q3 V E, v9 \. |“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.7 \% p6 u" {( f; _2 @ ^4 A
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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.” h% X/ d9 U, h, Z/ z
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The GICs will be available for a limited time only. |
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