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ATB’s new GIC now available to investors
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edmontonjournal.comSeptember 1, 2009Comments (1)
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' f" p) S: I! h' ~% UEDMONTON — 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.. O: B) C' s% D/ P0 ^
" `8 A h: u# d" J0 h, w3 cThe 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.4 W1 _, q6 a/ O9 K. y! c' N
) y7 F h2 F* w5 {3 _1 V& U0 MThe 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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2 i, |1 [7 Z/ M6 t3 S! mFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses. x5 q/ e- N- U+ Z7 p
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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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“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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( X- h& a, N0 H6 CThe GICs will be available for a limited time only. |
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