Bank of America, N.A., LaSalle Bank N.A. and LaSalle Bank Midwest N.A., announced today that they are lowering their prime-lending rates to 6.50 percent from 7.25 percent, effective January 22, 2008.
In some Bank of America and LaSalle 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.
Bank of America acquired LaSalle Bank on October 1, 2007.
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