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ATB’s new GIC now available to investors
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$ d _' h! X, a- [1 I& L- gedmontonjournal.comSeptember 1, 2009Comments (1)
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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.; b1 q2 z. \+ [6 D/ }
6 r) v% r# |2 @/ ~( d: bThe 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 $7 billion, ATB said at the time.
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$ ? d# F& Q1 K! kFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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1 k1 h$ B0 ^: I+ F+ j6 V5 ]“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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“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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! x C2 Q& e7 {- FThe GICs will be available for a limited time only. |
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