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ATB’s new GIC now available to investors l. ]! a% i, \0 X# A6 H8 Q
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9 O5 w% i) t# n+ F( ]+ Vedmontonjournal.comSeptember 1, 2009Comments (1)( X* j& C6 k9 b: y
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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$ o& Z! A; | ?& v4 Z
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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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5 y* d: [7 Y. i" mThe 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 $7 billion, ATB said at the time., w, I$ _0 U8 j- {
' t. v; ]4 _1 h0 XFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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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.7 m. x: V, P" `5 Y4 k
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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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: @( v' K4 H! Y3 |- j# N) rThe GICs will be available for a limited time only. |
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