Changes in the federal funds rate and the discount rate also dictate changes in The Wall Street Journal prime rate, which is of interest to borrowers. The prime rate is the underlying index for most credit cards, home equity loans and lines of credit, auto loans, and personal loans. Many small business loans are also indexed to the Prime rate.
https://www.bankrate.com/rates/interest-rates/prime-rate.aspx
What is the Prime Rate? The Prime Rate is the interest rate charged by banks to their most creditworthy customers (usually the most prominent and stable business customers). The rate is almost always the same amongst major banks. Adjustments to the prime rate are made by banks at the same time; although, the rate does not adjust on any regular basis. The Prime Interest Rate is usually adjusted at the same time and in correlation to the adjustments of the Fed Funds Rate.
https://www.moneycafe.com/personal-finance/prime-rate/
Click here for Prime Rate history for 1990-1999, 1980-1989, or 1975-1979. Click here for more ARM indexes. The prime rate is currently defined by The Wall Street Journal (WSJ) as The base rate on corporate loans posted by at least 70% of the nation's 10 largest banks. It is not the 'best' rate offered by banks. This definition has changed over time.
https://www.hsh.com/indices/prime00s.html
Some banks use the name “Reference Rate” or “Base Lending Rate” or “Preferred Rate” to refer to their Prime Lending Rate which they use as a benchmark for commercial loans and consumer loans. Publications may also refer to the Wall Street Prime Rate or the WSJ Prime Rate. In addition to commercial loans and credit card rates, many consumer loans are based upon Prime, including: home equity loans, car loans, and personal loans.
https://www.moneycafe.com/personal-finance/prime-rate/
Prime rate, federal funds rate, COFI By Bankrate.com The prime rate, as reported by The Wall Street Journal's bank survey, is among the most widely used benchmark in setting home equity lines of credit and credit card rates.
https://www.bankrate.com/rates/interest-rates/prime-rate.aspx
The prime rate may not change for years, but it has also changed several times in a single year. Any bank can declare its own prime rate. Some smaller banks will use a larger bank's prime as a reference for pricing loans, but most use the Wall Street Journal version.
https://www.hsh.com/indices/prime00s.html
The most recent previous definition from The Wall Street Journal (WSJ) was The base rate on corporate loans posted by at least 75% of the nation's 30 largest banks. HSH uses the print edition of the WSJ as the official source of the prime rate.
https://www.hsh.com/indices/prime00s.html
Wall Street Journal prime rate The Wall Street Journal prime rate is the most common measure of the prime rate, which is an index 3 percentage points above the federal funds rate set by the Federal Reserve. To get the rate, the Wall Street Journal surveys the nation's 30 largest banks on their prime rates and publishes it in their print edition. Credit card issuers often peg their variable-rate cards' interest rates to the prime rate, plus a margin that varies according to how risky the issuer views a consumer.
https://www.creditcards.com/glossary//term-wall-street-journal-prime-rate.php
Wall Street Journal prime rate definition: The Wall Street Journal prime rate is the most common measure of the prime rate ...
https://www.creditcards.com/glossary//term-wall-street-journal-prime-rate.php
Prime rate, federal funds rate, COFI. The prime rate, as reported by The Wall Street Journal's bank survey, is among the most widely used benchmark in setting home equity lines of credit and credit card rates. It is in turn based on the federal funds rate, which is set by the Federal Reserve.
https://www.bankrate.com/rates/interest-rates/prime-rate.aspx
wall street prime rate definition
The Wall Street Journal prime rate is the most common measure of the prime rate, which is an index 3 percentage points above the federal funds rate set by the Federal Reserve.