News In Brief

Prime interest rate cut back a quarter-point by big banks

Leaders in the banking industry, responding to generally lower interest rates in the marketplace, lowered their prime lending rate to blue-chip borrowers Thursday.

Citibank, the nation's second largest, along with No. 3 Chase Manhattan Bank, No. 4 Manufacturers Hanover Trust Company, and No. 6 Chemical Bank, lowered the prime rate to 12.75 percent, from 13 percent.

You've read  of  free articles. Subscribe to continue.
QR Code to News In Brief
Read this article in
https://www.csmonitor.com/1984/0928/092831.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe