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ATB’s new GIC now available to investors$ J* B" R6 \. {! ?& `* L
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' I. a- \+ _. q7 a: O! vedmontonjournal.comSeptember 1, 2009Comments (1)
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# b3 a1 D7 r( ~+ U. i4 W2 b) J: H7 dEDMONTON — 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., U3 L9 b% J% V
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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.. B; j' h9 p1 t6 M
; \: v( ?2 _4 L 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 $7 billion, ATB said at the time./ Y5 B: A6 }" p3 B) P8 v, R- J
7 D6 _: i/ O$ s2 I) M5 F2 b1 bFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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Q7 p! z. X2 w- p8 r" M( `“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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