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ATB’s new GIC now available to investors/ H* c! ^* s6 i+ c* ~$ ]5 A! O+ F J
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2 _4 b& [. s# }, R6 `3 t, H. ^edmontonjournal.comSeptember 1, 2009Comments (1)* W5 _* ~6 C- U1 _0 P: U
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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.% i4 u( l& B# y" s, |" X, C
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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 $7 billion, ATB said at the time.8 D0 X3 Z) c' k" x2 P2 g5 K
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.: h/ e3 l7 R& H, ~- c0 F$ Y. W$ F
$ f" \$ v, W- \3 N* B9 a! {; Q# b“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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7 ]% @$ O9 _ T“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”+ z1 J3 q, F5 Y1 [- X
8 q6 B9 v( [- d3 Q4 b& zThe GICs will be available for a limited time only. |
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