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ATB’s new GIC now available to investors; U3 G0 H6 a4 k9 C3 ?" {
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& n3 Z1 k m# P& J7 Nedmontonjournal.comSeptember 1, 2009Comments (1)
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) ]' h6 X u/ H& P% m$ y OEDMONTON — 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.0 e, J3 I4 T2 X' a. {- m- H) l) |
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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. G g' ^1 s1 D" |) y
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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.
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.! g0 n+ d* b( f' P7 R. M
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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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2 ^0 X/ `" B% {0 {, E9 rThe GICs will be available for a limited time only. |
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