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ATB’s new GIC now available to investors
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. |$ f U0 k6 y5 I) {3 Iedmontonjournal.comSeptember 1, 2009Comments (1)5 Q: _0 l& ~7 Z
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' G# {: d1 M# y; j: q6 s" U% ^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.
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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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“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 |0 J8 |0 d) L" b
8 P5 `0 r" |; |! c: ]0 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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# X4 L- C- }( o8 T4 D' jThe GICs will be available for a limited time only. |
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