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Prime rate cut to 19 1/2% by several big US banks

By With Analysis From Monitor Correspondents Around the World, Edited By Clara Germani / September 22, 1981

New York

Several major banks led by Chase Manhattan cut their prime lending rates Monday to 19 1/2 percent from 20 percent. The late reductions followed Friday's report that the nation's money supply grew $1.1 billion in the latest week -- well within the Federal Reserve's growth targets.

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