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ATB’s new GIC now available to investors
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edmontonjournal.comSeptember 1, 2009Comments (1)
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1 \# t4 C) H4 d+ B2 r& W% p$ X: aEDMONTON — 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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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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6 d* c6 D6 T* T! T5 KThe 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 $7 billion, ATB said at the time.
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) B0 h# r; ?# i$ ~) ~1 WFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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4 L& k) b+ [+ E' P8 Z“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.& K( ^2 j" q I0 Q) {
) C, v$ S) J; r% \5 | A“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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