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ATB’s new GIC now available to investors4 C: @$ H2 s5 l6 B. F$ g
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: U7 q$ R3 e, Fedmontonjournal.comSeptember 1, 2009Comments (1). b4 y+ `4 q9 A
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) A6 }& |- |+ b9 f4 P! t2 z# WEDMONTON — 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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; X5 @0 ?2 X D" d. E, e7 OThe 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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\) X7 A1 E$ H$ A! i* xThe 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 $7 billion, ATB said at the time.2 |9 Z! ]5 Q: ~$ d/ O
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.- J' b; {) W) I$ z' @3 [4 e8 H
: h; E; F" _& c6 A0 x0 C$ ?“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 e. _% b. | Z8 \" m' e8 {
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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.”6 U1 w. ~- K' H* j
% W# N' E; f" i1 ?8 ~# h2 `The GICs will be available for a limited time only. |
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