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ATB’s new GIC now available to investors
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( F1 g: ]' i- p# ~8 c# u/ B3 F# Nedmontonjournal.comSeptember 1, 2009Comments (1)
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7 ^/ M" ~( X2 A5 p4 p0 G1 m2 eEDMONTON — 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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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., G' ~5 U5 B/ k5 n) q& Z& I
4 n- Y4 x. {5 E% b6 r& f7 ]: `( \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 $7 billion, ATB said at the time.
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4 \, E% W. U( y* LFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
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' ?& ^3 U) R$ ^& Y# \6 |: c" \8 i“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”" ?0 F1 t/ s2 l T: ? K. @
8 n/ c% r7 [6 E1 R7 W0 v" H" TThe GICs will be available for a limited time only. |
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