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ATB’s new GIC now available to investors5 Z% z9 n% W9 i" x, b$ a+ _
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7 Q8 i! f/ E* p+ Z/ D* X% {edmontonjournal.comSeptember 1, 2009Comments (1)
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EDMONTON — 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 ^: X; S5 P7 W! h- b
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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.5 g2 d2 n( f, W, E7 U
( Q0 J1 w$ ?) P7 J7 ~% F0 BThe 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 $7 billion, ATB said at the time.5 x# M3 g) Z( `! R
* `- x7 @7 N$ o/ c$ Y6 D" S, wFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.5 C2 W, N& n/ _1 y& v; ?) U
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“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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The GICs will be available for a limited time only. |
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