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ATB’s new GIC now available to investors" @$ S/ f1 p% G U( R L
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edmontonjournal.comSeptember 1, 2009Comments (1)
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# E, R: k: p6 M0 x0 O, X8 [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.) S' U( y; T8 @. ]+ ?# A
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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.3 w- g7 g# I: ?: l
7 X9 l- q1 M- 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.7 @8 f# P- N; \# f: @
/ r: M' d( X) t! g“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”( \6 F, e% B+ u; V. ?( n# y
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The GICs will be available for a limited time only. |
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