Japanese Banks Keep Prime Rate at 5.7%

From United Press International

Japan’s three long-term credit banks said they would keep their long-term prime lending rates at 5.7% in April for the eighth straight month.

They said five-year interest-bearing bank debt with a coupon rate of 4.8%, on which the prime rate is based, remained almost unchanged in recent months.

The banks are Industrial Bank of Japan, Long-Term Credit Bank of Japan and Nippon Credit Bank.