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Economic Perspectives
Vol. 4, No. 3, 1978
Last Updated: 05/31/1978

Prime Rate Update

Randall C. Merris

A widely reported development in commercial bank lending over the past two years has been the extension of business credit at interest rates below prime. If these "superprime" loans become widespread, they could signal structural, or long-range, changes in bank lending and the concept of the prime rate itself.