U.S. Bancorp Raises Prime Lending Rate.MINNEAPOLIS -- U.S. Bancorp  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. (NYSE NYSE See: New York Stock Exchange :USB USB in full Universal Serial Bus Type of serial bus that allows peripheral devices (disks, modems, printers, digitizers, data gloves, etc.) to be easily connected to a computer. ) announced it has raised its prime lending rate The lowest rate of interest that a financial institution, such as a bank, charges its best customers, usually large corporations, for short-term unsecured loans. The prime lending rate is an economic indicator and is often used as a measuring point for adjusting interest to 8.00 percent from 7.75 percent, effective today, Wednesday, May 10, 2006, at all U.S. Bank locations. U.S. Bancorp last announced a change in its prime lending rate on March 28, 2006, when it was increased 25 basis points to 7.75 percent. U.S. Bancorp, with $210 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,430 banking offices and 4,941 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com. |
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