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ATB’s new GIC now available to investors% ?' h0 }1 F7 a* D0 n6 H- ?
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9 |# {4 ~8 }& F% ^edmontonjournal.comSeptember 1, 2009Comments (1)
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0 f* l5 k9 b- o7 ?- GEDMONTON — 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.: m* X# T/ P6 S0 X( s% G
: _( t3 H* q2 g" wThe 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.
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: a: }& f( M) D+ U/ L/ S“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.+ ~1 P' l! g v5 B" O: n
. _: I& G8 Q3 M7 g/ F“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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+ i w2 y C1 L5 z' ?+ BThe GICs will be available for a limited time only. |
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