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ATB’s new GIC now available to investors- w( \% i' T% k; k/ Z3 h" X
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+ B6 s" G( R+ m" ^( R/ Medmontonjournal.comSeptember 1, 2009Comments (1)9 g2 }6 N3 U, i1 Z2 V- F
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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., E; {8 d2 T7 K$ v7 T5 Y
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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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The 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 $7 billion, ATB said at the time.0 j1 O, U- ]" A+ d
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.# @/ X5 f" }4 ~
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
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“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
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2 k3 H6 y2 M7 z p) k$ |" xThe GICs will be available for a limited time only. |
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