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Bankers Trust Triggers Prime Rate Jump Across Banks
Bankers Trust Co announced a one point increase to the prime lending rate to 8.5 percent, the highest in years, prompting nationwide banks to follow. Officials cited market forces and long-term bond rates as drivers, with concerns about inflation and credit rationing affecting major corporations and, eventually, smaller borrowers.
MENTIONED IN THIS ARTICLE
New York
Bankers Trust Co
Bankers
Bankers Trust
Washington
Edmund F. Ebert
Ebert