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ATB’s new GIC now available to investors( e7 d" d1 N: v; X
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5 ]$ D1 H& C$ T5 n6 cedmontonjournal.comSeptember 1, 2009Comments (1), I. h. x9 e. o2 e6 v+ Y% i- K
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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.
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* |0 \7 y) O- v$ N6 e1 WThe 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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! b6 p) |3 j5 E0 A( rThe 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.( ` N* n+ j( L( k: W. y4 C
4 D l# z& R( d9 r5 G- a% m4 u5 E, GFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.8 A' B6 F6 n7 t
7 z# N: c" y4 A, j“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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The GICs will be available for a limited time only. |
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