JAPAN

Key Banks to Keep Prime at 6%: Japan’s three long-term credit banks have decided to keep their prime rate at 6% for May despite a climb in bond yields on the open market. It is the fourth month in a row in which the rate has been 6%. The banks decided to maintain the coupon rate on their monthly issues of five-year debentures at 5.1% despite the jump in the papers’ yield the past two months. The yield reached nearly 5.5% Friday. The coupon rate on the debentures determines the prime rate. The three banks are Industrial Bank of Japan, Long-Term Credit Bank of Japan and Nippon Credit Bank.