Two big US banks raise prime rates to 20.5%

Under the pressure of rising shortterm rates in the money markets, two big banks raised their prime lending rates thursday to 20.5 percent from 20 percent. Chase Manhattan, the third-largest bank, was the first to make the move, followed by First National of Chicago, ranked ninth.

of stories this month > Get unlimited stories
You've read  of  free articles. Subscribe to continue.

Unlimited digital access $11/month.

Get unlimited Monitor journalism.