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ATB’s new GIC now available to investors
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5 z. I6 j0 j* {& k- oedmontonjournal.comSeptember 1, 2009Comments (1)+ ^; e$ D' u. C! H8 ~8 g
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0 o0 P( g$ i, {5 V) TEDMONTON — 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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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 $7 billion, ATB said at the time.
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0 n! T$ ~( B4 OFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.& H( l5 V! ?+ l* D% [* \. [! }
% T! o! Z w9 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., I; |, U1 t1 `# P- e
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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.”) R$ ]$ `; A; C
$ F N& q+ `+ UThe GICs will be available for a limited time only. |
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