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ATB’s new GIC now available to investors8 `7 o8 R; o/ s1 o6 z- u& ?
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. k6 S! g6 ^5 g6 I2 I0 z1 [edmontonjournal.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.$ K+ h: b* F1 U/ s" F, y$ M: D
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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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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.; P' E2 Z: _. I/ S6 Z( u
; b, M- L7 J! ^8 P% i' F“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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- m0 s9 g- a& N1 y“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.” f4 g9 `' B. F T. |4 f: l
7 c6 [0 R, ]/ R8 C7 ~/ o+ E2 ^The GICs will be available for a limited time only. |
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