In Brief: Money-Center Banks, Regionals Cut Prime

A slew of regional and money-center banks cut their prime rates from 8.25% to 8% late Thursday and on Friday.

They include: Chase Manhattan Corp., New York; First Union Corp., Charlotte, N.C.: Bank One Corp., Chicago ; Norwest Corp., Minneapolis; U.S. Bancorp, Minneapolis; Mellon Bank Corp., Pittsburgh; PNC Bank Corp., Pittsburgh; and Comerica Inc., Detroit.

Also, Marine Midland Bank, Buffalo (a unit of HSBC Americas Inc.); Harris Bank, Chicago (a unit of Bank of Montreal); National City Corp., Cleveland; KeyCorp, Cleveland; Northern Trust Corp., Chicago; Citibank, New York; and Fleet Financial Group, Boston.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER