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ATB’s new GIC now available to investors
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" u% Y. u4 y+ E" T) {& _. Nedmontonjournal.comSeptember 1, 2009Comments (1)% h9 p m& x6 {5 Y
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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.
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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., K* ~, {' K: Q8 V' G. V5 s. t7 w
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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.6 W3 R6 e& o) y5 n0 X
9 B- O( H) E; H1 M9 nFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses." I' N# u% Y) K5 l
( l F) z |8 R# l' x% v# L1 O“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.' y2 ^1 O: u1 T) _) I1 ^
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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.”" U9 x! K. m' V4 w. ~* `& R
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The GICs will be available for a limited time only. |
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