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ATB’s new GIC now available to investors' h: Z6 P1 } w: e5 @
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& J9 E, T7 S; ?: k, o( { G- Medmontonjournal.comSeptember 1, 2009Comments (1); ~# \/ U8 m% Q( g* h# T
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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.
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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.
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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 $7 billion, ATB said at the time.. E3 A# {' I6 i
0 I$ C- q3 U d( bFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.. M' H8 q( `1 A- f# K$ l. }& ~
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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.1 G5 Q; y, n. ]' Z9 h I" @% X
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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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1 b( M$ m7 w5 ]" L* E; _( eThe GICs will be available for a limited time only. |
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