 鲜花( 0)  鸡蛋( 0)
|
ATB’s new GIC now available to investors
Y7 z, L9 V3 S' j5 v- N# b
5 }5 S% F' i" y- ^
$ p* X% I0 q5 q5 K' C1 cedmontonjournal.comSeptember 1, 2009Comments (1)6 B; P' K% p" k- \3 `
! L' N* r/ w2 W6 d , i. n1 ?& V r
9 U- I( D/ w4 C$ [3 C
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., S2 @: V" K# S% i) ^, b
* h0 U9 y$ }/ ^" N) g: iThe 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.$ Z1 Q6 t0 q# y5 y" g( H# H
& Z; Q9 f' |* U' v" p
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 h* A- U2 x" x. O0 I
6 M* y/ U' S# ^3 O1 W& bFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
$ E; }2 m0 x8 o3 {5 F5 U% E2 M+ N C8 D9 j
“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
$ V5 }* q8 }. g" E
+ e- s: q h5 J1 M" A“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”8 n' Q" s/ E0 s
# O3 D5 [. G! @; n0 G- LThe GICs will be available for a limited time only. |
|