CHARLOTTE, N.C., June 29 /PRNewswire/ -- Bank of America, N.A., announced today that it is raising its prime-lending rate to 8.25 percent from 8.00 percent, effective June 29, 2006.
(In some Bank of America loan documentation, the term "reference rate" has been used to refer to this lending rate. The terms "prime rate" and "reference rate" refer to the same rate.)
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 54 million consumer and small business relationships with more than 5,700 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 19 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE:BAC) is listed on the New York Stock Exchange.
Source: Bank of America