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ATB’s new GIC now available to investors4 k$ P8 q/ P) H; X X3 t% m
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" N' Y: T2 l" J9 o, hedmontonjournal.comSeptember 1, 2009Comments (1)
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9 X( x; g5 f5 m" e( H/ f+ q$ b! \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. u1 j! S* d$ L5 V- P) Q4 W
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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.+ _6 M/ j8 B# M; L: J9 q
" P8 G7 V3 U! [9 s9 _$ GThe 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 $7 billion, ATB said at the time.& y: N% [8 `3 `" m2 Y8 y# u; i
5 y/ I' w5 z4 r- Z8 aFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.- a+ q3 d3 ^: g. b. F0 f
6 S4 r* V/ Q" p+ A9 [' C6 c“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO./ h$ {9 b7 m+ s
' m' y0 j; E2 o5 y* }" ?; i“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”; a0 @' V) _2 O6 f! a1 j4 F
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The GICs will be available for a limited time only. |
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