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ATB’s new GIC now available to investors* S$ m9 m5 l. s9 `; Q
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7 K3 i! ` r9 A# Zedmontonjournal.comSeptember 1, 2009Comments (1)7 i4 N. ]" @5 |7 k
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5 w D, D( w# `1 m4 ~8 e- hEDMONTON — 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.* T* w7 h2 }/ J! k
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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.! d1 O7 c+ D, c& v4 J8 v- }
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.- F/ ~5 [( v! \9 q; H
- ~5 ~, w9 E2 Y( f“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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/ q3 l7 h& a* D“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”* G3 w. D: M: V& W5 }9 ~0 |
0 R! X/ j8 H4 r/ C# pThe GICs will be available for a limited time only. |
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