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ATB’s new GIC now available to investors% x |0 n8 f# L' }) \
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edmontonjournal.comSeptember 1, 2009Comments (1)/ q# \" T& Q3 L# H
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6 J. r5 S6 [/ [$ \) c4 v- z/ gEDMONTON — 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.- t8 G9 Y" d3 v- ~4 B0 ]7 r4 H2 a
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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.7 f( I* O" T* _6 S' N8 W0 y2 X
* s( p. O! t" C3 |% o3 yThe 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 $7 billion, ATB said at the time.) }' f4 i J7 t0 |$ c# Q; G, z' O
+ f4 }. Q( n1 l" WFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.8 n( F0 |, {2 H O
* ^0 y$ ~) V2 p9 z8 g“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.2 c1 v6 L$ V$ D' f
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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.”* C9 v- e( e; h* X
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The GICs will be available for a limited time only. |
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