Two major banks drop prime rate another point

Chase Manhattan and Bankers Trust, two of the nation's largest banks, Thursday cut their prime lending rate to top-rated corporate customers a full point to 15 1/2 percent. The development came less than 24 hours after the Federal Reserve Board indicated it was easing its monetary policy by reducing the federal funds rate target for loans banks make to one another. The rate was reduced to about 9 percent from 10 percent.

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