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ATB’s new GIC now available to investors! `/ _# z2 y/ v3 Y) M
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edmontonjournal.comSeptember 1, 2009Comments (1)+ h( u8 p; K7 T# F. {/ }! t9 H
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, s# U* R* F/ p7 a; S+ VEDMONTON — 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.% Z+ e- a3 y& k
7 M4 p+ p6 R( u/ W! t, 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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2 w6 ~4 ~) a; g. ~ g# K+ B' dThe 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 $7 billion, ATB said at the time.
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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( a" E% t1 X. U5 \“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.+ n6 a9 M+ C N0 q# M; _
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“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
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# D( a6 p' g$ A, T( X% m6 i, x( ZThe GICs will be available for a limited time only. |
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