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ATB’s new GIC now available to investors" c3 T& Z# B y9 e: a& O
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edmontonjournal.comSeptember 1, 2009Comments (1)
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! l2 { D+ X' a) M! \ d7 @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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, n6 E, y3 P# ?6 U5 `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.: d, _. ?2 h" D* v5 a- O
+ F& G, [$ |3 w" m6 H1 N4 fThe 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 $7 billion, ATB said at the time.9 K* E$ E& ] _& }5 q8 H
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.3 p& P: i0 L1 u: k; ?. R% }
3 Q# g1 g" C6 k0 W: m' Q“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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# z; X m8 f* E+ b) [“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
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The GICs will be available for a limited time only. |
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