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ATB’s new GIC now available to investors4 y* t: b! \3 C( `" N' L/ \ `5 u
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edmontonjournal.comSeptember 1, 2009Comments (1)
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( W9 j2 G, h9 J' a6 kEDMONTON — 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.3 ~$ w" Q1 T" [7 Y' n
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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 $7 billion, ATB said at the time.
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" Q$ }5 p B! ^4 p8 yFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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# W- o7 c3 d1 A" y! s) e( g“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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/ p; H @7 l1 p v. `“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”/ }0 s& }% J3 m! `
. o# \- F& ?. t& X7 e, ?The GICs will be available for a limited time only. |
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