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ATB’s new GIC now available to investors
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edmontonjournal.comSeptember 1, 2009Comments (1)& E4 |$ t% c5 l% q' |! d) E0 o
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% y; [1 o7 ~0 B- K8 q2 D7 ?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.. K2 T" [' u2 j# @, G
! a7 b% @3 v4 n# ?8 c* PThe 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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) I: d; B8 n- C% R* a& dThe 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 $7 billion, ATB said at the time.
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! D% H) ?' v0 q/ mFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
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% j3 G3 S$ X4 h“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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The GICs will be available for a limited time only. |
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