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ATB’s new GIC now available to investors5 c8 A0 {' ]2 G$ h' m
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' P( H. ^7 W# Z! R0 T: l/ _edmontonjournal.comSeptember 1, 2009Comments (1)- X% |. B# V6 V3 v. d
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6 u3 ]% a6 S \/ yEDMONTON — 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.+ U+ Q0 \1 a/ q; Q- b7 M/ B/ _5 b
7 P( \' O1 u. w; G7 G" Z- RThe 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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3 z, j8 F% D v m' kThe 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. |1 l# i2 s, L' |
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.! r4 ]+ w {/ D# w0 z
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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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, ~. A" Q' M0 Y- Z5 x0 B" l+ OThe GICs will be available for a limited time only. |
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