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ATB’s new GIC now available to investors) ^4 k; t. z7 E: \
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edmontonjournal.comSeptember 1, 2009Comments (1)
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1 G+ w% w3 y! l$ ]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.. P' J6 O6 Q8 z% b% T$ u. E
" L; w0 O" [& ^ T, h5 VThe 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.' Z- T/ H! a7 O6 [/ {; v7 T
) ?8 k/ h" K* D$ f! SThe 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 $7 billion, ATB said at the time.0 `) ^5 V% Q0 _- q$ Q; t
5 t( A6 P/ s5 kFunds 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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% C s: a# {$ W, u9 x“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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0 L7 a* e; G9 B* w. GThe GICs will be available for a limited time only. |
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