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ATB’s new GIC now available to investors, G6 i9 x/ S! L+ e
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+ v3 @5 v7 X7 ~$ Y) a" Z7 Hedmontonjournal.comSeptember 1, 2009Comments (1)
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1 Q1 r7 V+ k+ D% Z3 bEDMONTON — 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., d( ^; m0 W5 p4 d; K R
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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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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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& r- r5 @7 p( v0 Q! J( S“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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6 n9 {) O/ f4 f4 i3 OThe GICs will be available for a limited time only. |
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