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ATB’s new GIC now available to investors% t* K1 J3 c5 B- p8 x: q: h4 a# A
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edmontonjournal.comSeptember 1, 2009Comments (1)6 J5 b3 ]; r( X0 j# r0 c2 y
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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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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." T; ^# u, B& |) u3 r6 g" @
1 s0 `0 g. g( ^/ i: l0 zThe 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 $7 billion, ATB said at the time.4 K3 _6 |4 u3 A, D
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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0 }3 { D7 p0 M- @“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
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7 h$ C' |5 E# A% [; i3 W" k, U“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”/ `3 |+ T: V1 f" u% h
4 \- Z6 f* j6 n; R" ]The GICs will be available for a limited time only. |
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