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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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5 |1 n' E) \0 [1 fEDMONTON — 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 Z, r% J/ m+ t& G% R
1 v8 [6 `# m$ B' d3 aThe 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.. v, @0 `' x, Z1 W2 |! m' N. p: t/ K
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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 $7 billion, ATB said at the time.
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7 u* ]; D1 _" `! J: sFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.' {+ i/ |5 q Y% B& `
+ A8 c8 B" n/ E+ w$ I; M6 r“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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) e# R* K" C* S“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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( j* _& ~% ^. T; `1 I( J H, f( gThe GICs will be available for a limited time only. |
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