Prime Rate

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August 25, 2024 4 min read Definitions
Broker Loan Rate: Interest Rate for Stockbrokers
Finance Banking Investments Broker Loan Rate Interest Rates Stockbrokers Prime Rate Banking
The interest rate at which stockbrokers borrow from banks to cover clients' securities positions, usually close to the prime rate.
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August 25, 2024 4 min read Definitions
Prime Rate: Interest Rate Banks Charge to Their Most Creditworthy Customers
Finance Banking Prime Rate Interest Rate Banking Creditworthiness Market Forces
The Prime Rate is the interest rate that banks charge to their most creditworthy customers, influenced by market forces affecting a bank's cost of funds and borrower acceptance rates. It typically becomes standard across the banking industry when a major bank adjusts its rate.
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