3 banks drop prime rate to 13% as demand falls

Chase Manhattan Bank Wednesday cut its prime lending rate by a point to 13 percent, followed by Morgan Guaranty Trust and Company and manufacturers Bank, a small Los Angeles bank. The decline reflects lower demand for corporate borrowing and a drop in the banks' cost of funds.

You've read  of  free articles. Subscribe to continue.
QR Code to 3 banks drop prime rate to 13% as demand falls
Read this article in
https://www.csmonitor.com/1980/0605/060522.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe