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ATB’s new GIC now available to investors4 h% A: v$ M1 v, f# ^7 _& @$ z
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edmontonjournal.comSeptember 1, 2009Comments (1)0 B3 q5 M" n# j% H* R
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6 V8 N0 `0 i; d0 VEDMONTON — 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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, |. U. \; Z4 F# }/ h) \. dThe 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 $7 billion, ATB said at the time.! g8 _; g; E' ], y* h# R$ Q' {
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.+ J6 Q [) \9 r7 D1 H: J
+ O% I( H) N! Y- N' O$ c. t1 ?“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.4 Q' _( t i8 Z. G( S
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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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- |' ~( w6 G# `4 PThe GICs will be available for a limited time only. |
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