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ATB’s new GIC now available to investors" J( C5 Q: F" r! ]
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edmontonjournal.comSeptember 1, 2009Comments (1)
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5 v' T4 y" e9 v" O1 TEDMONTON — 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.
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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.5 ?9 ~# g9 n4 n4 g' c6 g
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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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. `* ?, L b4 b0 E/ T“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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: y& j5 X, A! t“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”& y) `) e# `( O" x1 {/ S* A# \ }, _' T
1 v! G5 z/ [% U& b. WThe GICs will be available for a limited time only. |
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