Savannah Bancorp Reports Third Quarter Earnings of $346,000 and Declares Quarterly Dividend Oct 21, 2009
The prime rate declined 175 basis points from 5. 00 percent to 3. (Primezone Releases)
Innovative Composites International Inc. Announces Receipt of Final TSXV Bulletin in Respect of Its Qualifying Transaction and Provides Business Update Oct 20, 2009
The debenture will mature on September 22nd, 2014 and bears interest at prime rate plus 2% annually. It is convertible into 6,666,667 units of the Company, each unit consisting of one common share and one share purchase warrant, each warrant exercisable for one additional share of the Company at $0. (CCNMatthews Press Releases)
Guaranty Federal Bancshares, Inc. Announces Third Quarter 2009 Financial Results Oct 16, 2009
First, the Federal Reserve's interest rate cuts beginning in the fourth quarter of 2007 and continuing throughout 2008 dramatically impacted the Company's yield on loans which are tied to the prime rate. Second, the Company has experienced an increase in non-performing assets since the third quarter of the prior year end that has increased the amount of assets that are non-income generating. (Primezone Releases)
S Korea's experiment for helping low income earners Oct 14, 2009
With the Miso loans come interests set below the prime rate, which currently stands at around 5 percent. To be of more help to its beneficiaries, the foundation also plans to apply zero-percent interest rates during the grace periods. (Xinhuanet, China)
Inflation Rate Fell to 18.37% in September Oct 10, 2009
I expect that as inflation goes down, we should start bringing down the prime rate, Amissah-Arthur said in the interview. In August, Finance Minister Kwabena Duffuor predicted inflation would slow to 14. (Ghana Web, Ghana)
Bank of America: No Interest Rate Hikes Oct 8, 2009
The interest on variable-rate cards is tied to the rise and fall of the prime rate. The North Carolina-based bank, along with Chase, in August switched most fixed-rate cards to variable rates to manage costs in light of the sweeping new reforms to the credit card industry. (CBS News)
No definite decision to print additional unit of currency - Governor Oct 7, 2009
Mr Amissah-Arthur said areas that needed to be tackled were the rising base rate against the prime rate and how to stabilise inflation to facilitate business growth. He referred to a recent audit of banks in Nigeria, and said the Central Bank would not undertake any wholesale audit but would carry out the exercise when necessary. (Ghana Web, Ghana)
GTUC submits proposals on 2010 Budget to Government Oct 3, 2009
The prime rate at the beginning of 2008 was 13 ... 2 The increase in the prime rate led to corresponding increases in average interest rates not only on government securities but also on the inter-bank rates. (Ghana Web, Ghana)
Johnson Outdoors Completes New Financing Structure Oct 1, 2009
3 million of the long-term facility is based on the prime rate plus 2. 0 percent, and the remainder on prime rate plus 2. (Primezone Releases)
SARB stutters Sep 24, 2009
The key repo rate remained at seven percent while the prime rate stayed at 10. 5 percent. (iAfrica.com)
BOG Holds Benchmark Interest Rate at 18.5% Sep 24, 2009
The Monetary Policy Committee (MPC) on Wednesday held the prime rate at 18 ... The prime rate is the rate at which the central bank lends money to the commercial banks. (Ghana Web, Ghana)
Ghanas economy stabilizing ... Sep 24, 2009
The prime rate, was therefore, maintained at 18. 5. (Ghana Web, Ghana)
Get a great credit cardand help a great cause Sep 23, 2009
It has a low variable rate based off the prime rate, so you won t see any surprise jumps. You can use it for all your purchases business or pleasure since it s accepted worldwide. (Mattoon Journal-Gazette, IL)
Wegener Corporation Updates Status of Sencore LOI and Bank Financing Sep 18, 2009
00% above the bank's publicly announced Prime Rate. Because the amendment was premised on the possibility of a merger between Wegener Corporation and Sencore, and given the termination of the LOI with Sencore, WEGENER is now in discussions with the bank regarding how to move forward on a path to financial stability for the company. (Yahoo! Wire -- Entertainment News)
Epstein Enterprises Inc. Announces It Has Subscribed for a Convertible Debenture Issued by Kelman Technologies Inc. Sep 18, 2009
TORONTO, ONTARIO--(Marketwire - Sept. 17, 2009) - Epstein Enterprises Inc. ("EEI"), a corporation controlled by Seymour Epstein, Chairman of the Board of Directors and major indirect shareholder of Kelman Technologies Inc. ("Kelman"), today announced that as described in a press release of Kelman dated September 16, 2009 as filed on SEDAR, Kelman has issued to EEI a CDN$500,000 principal amount convertible debenture, which bears interest at the Prime Rate of the Royal Bank of Canada in effect... (CCNMatthews Press Releases)
Carl's Jr: When in trouble, blame socialism Sep 18, 2009
Rate increases and decreases will only occur if the Prime Rate changes ... The prime rate right now is sitting at a historic low of 3 ... The prime rate rises in step with the Fed Funds rates. (Salon)
Quarter and Month-End Portfolio Data Now Available for ING Closed-End Funds Sep 12, 2009
Sept. 11 /PRNewswire/ -- ING Funds Distributor, LLC today announced that quarterly commentary as of June 30, 2009 and monthly portfolio data as of July 31, 2009 is now available for the following closed-end management funds: ING Asia Pacific High Dividend Equity Income Fund (NYSE: ), ING Global Advantage and Premium Opportunity Fund (NYSE: ), ING Global Equity Dividend and Premium Opportunity Fund (NYSE: ), ING International High Dividend Equity Income Fund (NYSE: ), ING Risk Managed Natural... (PR Newswire)
Interest rates too high? Sep 4, 2009
Could the cyclical low in our prime rate after all be single digit. It might well be, if China does what China does, and we can take Obama's Larry at his word, with Bernanke benignly conducting the monetary orchestra. (iAfrica.com)
Residential market has hit bottom - experts Aug 27, 2009
Over the past eight months, interest rates have dropped steadily by five percentage points, which makes the current prime rate of 10,5% one of the lowest seen in 20 years (the only other time this low level was experienced was from April 2005 to June 2006). The result is that home loan repayments have fallen more than 25% since December and affordability has increased substantially. (Business Report, South Africa)
Local banks hold out well but are under more pressure Aug 26, 2009
Online Edition Powered By IOL. DisplayAds('SkyLEFT',17,). (Business Report, South Africa)
Dollars and Sense Aug 22, 2009
However, there are some exceptions: For example, if the card's interest rate is tied to the prime rate and that changes, then the card issuer doesn't have to give you advance notice. Second, card issuers are now required to send your bills at least 21 days before they're due. (San Francisco Chronicle -- Business)
LETTER: Look at a list of what Palin doesn't have Aug 20, 2009
Prime Rate during Mr. Carters Term (Jan. 20, 1977, to Jan. 20, 1981). (Mattoon Journal-Gazette, IL)
Consumer Gains on Credit-Card Reform Law Paired by Lenders' Rate Hikes Aug 19, 2009
The prime rate was 3. 25 percent yesterday, according to Bloomberg data. (Bloomberg -- US)
Would banks refrain from hiking rates for old borrowers? Aug 19, 2009
Moreover, almost all bankers openly concede that PLR has lost its relevance as prime customers are offered loans at rates below the prime rate. Yet, banks insist on linking interest rates on all loans to their respective PLRs, which means that all loans are either a few basis points above or below them. (India Times)
NuVista Energy Ltd.: Second Quarter Interim Report Aug 14, 2009
These advances bear interest at the bank's prime rate and/or at money market rates plus a stamping fee. The credit facility is secured by a first floating charge debenture, general assignment of book debts and the Company's oil and natural gas properties and equipment. (CCNMatthews Press Releases)
Advantage Announces A Revised Credit Facility of $525 Million And Increased Financial Flexibility Aug 14, 2009
The Credit Facilities are provided by a syndicate of financial institutions with various borrowing options available under the Credit Facilities, including prime rate based advances, US base rate advances, US dollar LIBOR advances and bankers' acceptances loans. The interest rates applicable to the Credit Facilities are based on either prime rate, US base rate, LIBOR or bankers' acceptance rates at the Corporation's option, subject to certain basis point or stamping fee adjustments ranging from... (PR Newswire)
Chartwell Announces Second Quarter 2009 Results and Change in Monthly Cash Distributions Aug 14, 2009
Amounts outstanding under the Credit Facility will bear interest at the bank's prime rate plus 2. 75% or at the applicable bankers' acceptance rate plus 4. (CCNMatthews Press Releases)
Clairvest Reports Fiscal 2010 First Quarter Results Aug 14, 2009
5 million, bearing interest at the prime rate made by the Company to CEP during the first quarter of fiscal 2010 were repaid in full during the quarter ... 3 million, bearing interest at the prime rate, were made by the Company to CEP III during the first quarter of fiscal 2010, and $4 ... The share purchase loans bear interest fixed at the prime rate on the date of drawdown less 1%, interest is paid annually, and the loans have full recourse and are collateralized by the common shares of the... (CCNMatthews Press Releases)
BOG boss likely to quit next month Aug 13, 2009
However, Acquah held the prime rate at 18. 5 percent, arguing "risks in the outlook for disinflation and growth are balanced". (Ghana Web, Ghana)
Variable rates replacing fixed for cardholders Aug 13, 2009
The move from fixed rate to variable APRs won't likely cause customers much angst now because the prime rate is at an historically low point: 3 ... Variable vs. fixed rates Variable rate cards have APRs that fluctuate based on the prime rate (also called an index) and a fixed rate (called a margin) ... The prime rate goes up or down with changes in the federal funds rate, which is set every quarter by the Federal Reserve and is the rate banks pay to borrow money from the Fed. (MSNBC -- Business)
Pure Energy Services Ltd. Announces Results for the Second Quarter Ended June 30, 2009 Aug 13, 2009
Borrowings under the Operating Facility will bear interest at either: (i) the lender's prime rate plus 1 ... Borrowings under the Revolving Facility will bear interest at either: (i) the lender's prime rate plus 2. (CCNMatthews Press Releases)
Setting the records straight: What Duffuor wrote to the IMF Aug 12, 2009
The Bank of Ghana responded by increasing the prime rate by a cumulative 350 basis points in 2008, ending the year at 17 percent ... The prime rate was further increased by another 150 basis points to 18. (Ghana Web, Ghana)
BELLUS Health reports results for first half of fiscal 2009 Aug 12, 2009
These facilities have combined maximum aggregate amounts of CDN$7,307,000 and $4,578,000, bear interest at prime rate minus 1% per annum, and are secured by hypothecs having an aggregate principal amount of CDN$18,400,000 on the New ABCP Notes issued to the Company, on the securities accounts in which they are held and on all proceeds of these notes. The amounts of the credit facilities reduce as capital payments are received on the New ABCP Notes. (PR Newswire)
CORRECTION FROM SOURCE: Brookfield Real Estate Services Fund Announces Second Quarter Results and Monthly Cash Distribution Aug 12, 2009
The revolver is subject to annual renewal with outstanding principal under the revolver subject to interest at the lender's prime rate plus 1% to 1 ... Interest on the Term Facility is available in the form of floating prime rate payable quarterly, or a Bankers' Acceptance rates plus 1% with terms of up to six months ... On April 2, 2009 the Fund drew down the remaining $1,000 of the Term Facility at the floating prime rate. (CCNMatthews Press Releases)
Shop around for a home-equity loan Aug 11, 2009
During the real-estate boom years, you could get variable rate HELOC at "prime minus 1." That means that your interest rate would float based on the prime rate, minus 1 percent. Today, lenders are offering far less advantageous rates. (AZCentral -- Business)
Bonavista Energy Trust Announces Second Quarter Results Aug 7, 2009
The facility provides that advances may be made by way of prime rate loans, bankers' acceptances and/or US dollar LIBOR advances. These advances bear interest at the banks' prime rate and/or at money market rates plus a stamping fee. (CCNMatthews Press Releases)
Calfrac Announces Second Quarter Results and Expansion Program Aug 7, 2009
0 million with advances bearing interest at either the bank's prime rate plus 0 ... 0 million and bears interest at either the bank's prime rate plus 1 ... BANK LOAN The Company has an operating loan facility of $25,000 payable on demand and bearing interest at the bank's prime rate plus 0. (Canada Newswire)
Fairborne Energy Ltd. Announces 2009 Second Quarter Financial and Operating Results Aug 7, 2009
Interest payable on amounts drawn under the facilities is at the prevailing bankers' acceptance rates plus stamping fees, lenders' prime rate or LIBOR rates plus applicable margins, depending on the form of borrowing by the Company. The margins and stamping fees vary from 0. (CCNMatthews Press Releases)
Argosy Energy Inc. Announces 2009 Second Quarter Results Aug 7, 2009
Statements relating to "reserves" or "resources' are deemed to be forward looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described can be profitably produced in the future.Investors should not place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. These forward-looking statements are made as of the date... (CCNMatthews Press Releases)
Daylight Resources Trust Reports Second Quarter 2009 Financial and Operating Results- RECORD PRODUCTION DRIVES INCREASED FUNDS FROM OPERATIONS Aug 6, 2009
This MD&A also compares the results of the six months ended June 30, 2009 ("YTD 2009") to the six months ended June 30, 2008 ("YTD 2008). All references are to Canadian dollars unless otherwise indicated.NON-GAAP MEASURESDaylight Resources Trust ("Daylight" or the "Trust") utilizes the following terms for measurement within the MD&A that do not have standardized prescribed meaning under GAAP and these measurements may not be comparable with the calculation of similar measurements of other... (CCNMatthews Press Releases)
First Financial Service Corporation Announces Quarterly Results Aug 4, 2009
Correspondingly, variable rate loans that are tied to the federal prime rate have been repriced downward in relation to the prime rate. However, interest rates paid on customer deposits have not adjusted downward proportionately with the declining interest yields on loans and investments. (PR Newswire)
Global Recession Continues to Weigh Heavily on Canfor's Operating Results in Second Quarter Jul 31, 2009
Except for Facility A and Facility B, interest is payable at floating rates based on lenders' Canadian prime rate, bankers acceptances, US dollar base rate or US dollar LIBOR rate, plus a margin that varies with the Company's net debt to total capitalization ratio ... Interest is payable at floating rates that vary depending on the ratio of net debt to operating earnings before interest, taxes, depreciation and amortization and is based on lenders' Canadian prime rate, bankers acceptances, US... (CCNMatthews Press Releases)
Cathay General Bancorp Reports Second Quarter 2009 Results Jul 30, 2009
The decrease in net interest income from the prior year primarily resulted from increases in non-accrual loans and the increase in the borrowing rate on our long term repurchase agreements and other borrowed funds compared to the decreases in the prime rate. The majority of our variable rate loans contain interest rate floors, which help limit the impact of the recent decreases of the prime interest rate. (PR Newswire)
Streeterville condo conversion hit with foreclosure suit Jul 30, 2009
The loan carried interest of the prime rate plus 1%, or 7. 25%, whichever is greater, according to a document included with the foreclosure suit, which was filed this month in Cook County Circuit Court. (Crain's Chicago Business)
Credit cards Jul 29, 2009
If your card's interest rate is tied to the prime rate or similar benchmark and that benchmark changes, your issuer doesn't have to give you advance notice, says Ben Woolsey, director of marketing and consumer research for. However, Woolsey says, issuers will be required to give you 45 days' notice if they increase the margin, which is the amount added to the benchmark index to calculate your annual percentage rate. (USA Today -- Money)
Imperial fights with state over interest on R90m car hire bill left by Scorpions Jul 27, 2009
35m in September 2005 and has risen steadily with the prime rate, which rose as high as 15 percent in December and is now at 11 percent ... Jeetesh Ravjee of TWB Attorneys ers, Imperial's attorneys, confirmed yesterday the amount claimed by Imperial had, since September 2005, been attracting interest at the prime rate. (Business Report, South Africa)
Credit card firms raise fees before law changes Jul 27, 2009
But since benchmark indexes are extremely low - the prime rate is near zero - analysts said credit card interest rates will almost certainly go up in the future. Fees on foreign transactions have also increased. (Boston Globe)
Small businesses in a pinch for loans Jul 26, 2009
Wilkinson agreed that the modest interest on the loans, prime rate plus 2 percentage points, was not enough to make the loans attractive to banks. "The small-business owner is the person who put these banks in business in the first place," Luthe said. (Florida Today)
Union Bankshares Corporation Reports Earnings Jul 25, 2009
g., Prime rate, Federal funds rate) begin to rise, it will continue to negatively impact the margin in the interim. For the six months ended June 30, 2009, the Federal Open Market Committee ("FOMC") maintained the target range for the Federal funds rate at 0% to 0. (PR Newswire)
MetroCorp Bancshares, Inc. Announces Second Quarter Earnings With Net Income of $1.2 Million or $0.05 EPS, Reduction in Nonperforming Assets and Improvement in Net Interest Margin Jul 25, 2009
The decrease in net interest income was due primarily to lower loan yields as a result of interest rate cuts by the Federal Reserve, which caused the prime rate to decrease from 5% to 3. 25% during the last 12 months, and an increase in nonperforming assets. (Primezone Releases)
Southern National Bancorp of Virginia Inc. Reports Reduced Earnings for the Second Quarter and First Half of 2009 Jul 25, 2009
This was a result of a stabilized prime rate and Sonabank's efforts to establish floors on prime rate based loans. This improvement was partially offset by a decline in the yield on investment securities from 4. (Primezone Releases)
Canfor Pulp Income Fund Announces Second Quarter 2009 Results Jul 25, 2009
The Revolving Facility bears interest and fees at rates that vary depending on the ratio of net debt to operating earnings before interest, taxes, depreciation and amortization (EBITDA) and which may, at the Partnership's option, be based on lenders' Canadian prime rate, bankers acceptances, US dollar base rate or US dollar LIBOR rate. The effective interest rate on the revolving facility for the quarter ended June 30, 2009 was 2. (CCNMatthews Press Releases)
KwaZulu-Natal's BEE ombudsman to tackle fronting Jul 24, 2009
However, if Imperial is ultimately successful in its claim, the government will have to pay substantially more than this because interest at the prime rate is payable on the R89. 88m from September 2005. (Business Report, South Africa)
Obamas visit Fuel shortage and others have taken the shine Jul 24, 2009
85%, Govt of Ghana 1-yr Note is 21%, Bank of Ghana Prime Rate is 18. 5% whilst June 2009 inflation is 20. (Ghana Web, Ghana)
Delphi Reports Ninth Quarter of Production Growth and Increases Cash Flow and Financial Flexibility Jul 23, 2009
The credit facility bears interest based on a sliding scale pricing grid tied to the Company's trailing debt to cash flow ratio: from a minimum of the bank's prime rate plus 2. 0 percent to a maximum of the bank's prime rate plus 5. (CCNMatthews Press Releases)
MPC holds Prime Rate unchanged Jul 22, 2009
"The risks in the outlook for disinflation and growth are balanced and therefore the Monetary Policy Committee decided to maintain the prime rate unchanged at 18.5 per cent," Dr Acquah added. However, he said, consumer sentiments remained increasingly soft while latest surveys indicated that business confidence was at a low point with half of respondents having revised downwards expectations about economic prospects. (Ghana Web, Ghana)
Central Bank Holds Key Interest Rate at 18.5% Jul 22, 2009
The prime rate was held at 18. 5 percent, Bank of Ghana spokeswoman Esi Hammond said in a mobile phone text message from Accra today. (Ghana Web, Ghana)
First M&F Corp. Reports Reduced Loss, Aggressively Manages Problem Assets Jul 21, 2009
Loan yields also decreased from the first quarter of 2009 to the second quarter as the effect of fourth quarter 2008 prime rate cuts continued to trim spreads. Average loans were $1. (PR Newswire)
Public Information Notice: IMF Executive Board Concludes Article IV Consultation with Ghana Jul 19, 2009
Notwithstanding interest rate increases, the prime rate has been lower than annual inflation since early-2008, while real interbank rates have been only slightly positive. The banking sector has continued to register strong asset growth, with private sector credit up 56 percent in the year to April 2009. (IMF News)
Guaranty Federal Bancshares, Inc. Announces Second Quarter 2009 Financial Results Jul 18, 2009
First, the Federal Reserve's interest rate cuts beginning in the fourth quarter of 2007 and continuing throughout 2008 dramatically impacted the Company's yield on loans which are tied to the prime rate. Secondly, the Company has experienced an increase in non- performing assets since the second quarter of the prior year end that has increased the amount of assets that are non-income generating. (Primezone Releases)
ARC Loans' Weak First Month Jul 18, 2009
Banks earn interest of 2% above prime (the prime rate is currently 3. 25%), paid by the SBA borrowers pay no interest. (BusinessWeek)
Six Months of NDC Government Jul 17, 2009
However, the prime rate, a major determinant of lending interest rates of commercial banks, has gone up by about 1. 5 percentage points during the last six months, thus pushing the average lending rates and credit costs to its highest peak of more than 33 percent. (Ghana Web, Ghana)
Fidelity Southern Corporation Reports Second Quarter Loss; Increased Lending and Liquidity Levels Jul 17, 2009
The decreases are a result of lower margins from reductions in the prime rate, foregone interest due to an increase in nonperforming assets and the continued pressures on the cost of deposits in the Atlanta market. However, the net interest margin of 2. (PR Newswire)
Losing a Job Now Could Mean Losing a Home Jul 17, 2009
"People are losing their jobs and unable to make mortgage payments on what had been considered very safe, standard 30-year fixed prime rate loans," said Rick Sharga, senior VP of RealtyTrac. In fact, in the first half of this year, one in every 16 homes in Nevada received a foreclosure notice - a 61 percent jump from last year. (CBS News)
Credit Cards: Goodbye, Fixed Rates? Jul 11, 2009
The interest on variable-rate cards is tied to the rise and fall of the prime rate ... Banks can set a "floor" in the fine print of a card agreement, meaning the customer's interest rate won't fall below a certain level regardless of how much the prime rate drops ... For instance, if a card's rate is based on the prime rate plus 5% with a floor of 10%, the rate on the card wouldn't drop below 10% even if the prime rate fell below 5. (BusinessWeek)
