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ATB’s new GIC now available to investors6 W* k: W: w; W7 c: e7 P W4 e
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edmontonjournal.comSeptember 1, 2009Comments (1)( Y7 i- p$ a% a$ V2 L
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O3 _- v4 ] j/ ^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.: u+ D1 a% M! Y; \* `3 z
5 m& m+ m1 c& u: P7 E1 TThe 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 $7 billion, ATB said at the time., u! ]* @' F: F+ |
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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V- c, |' K& q3 o$ D7 v4 B. R. }“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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9 H6 ]! I6 J4 ?“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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# t, e. X% x+ h' y& r; ^2 tThe GICs will be available for a limited time only. |
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