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ATB’s new GIC now available to investors3 B* O4 D9 c" v, a( U
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7 F, y, b0 L/ {3 E/ d m9 D6 Medmontonjournal.comSeptember 1, 2009Comments (1)6 T; p9 E4 C6 m' ~! y' R
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1 h) X( G& p Q7 s4 G7 L0 O8 nEDMONTON — 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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% I1 _) A- ?. I5 R; Q0 uThe 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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5 k2 J/ B0 C# l1 L9 l- ?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 $7 billion, ATB said at the time.' i# }# R) ]$ p& M! U1 d
' c5 T2 f& B( Y' [2 K r5 Z6 PFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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% Z( R5 t1 |9 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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2 g/ N) | U! E2 o' [6 `. DThe GICs will be available for a limited time only. |
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