Mizuho Corporate Bank will increase its long-term prime lending rate 0.05 percentage point to 2.35 percent Wednesday.
The long-term prime rate, or interest charged on loans of one year or longer to the most creditworthy corporate clients, will be raised for the first time in three months.
The rate is set at a level 0.9 percentage point above the coupon on the bank’s newest five-year debenture.
When the gap between the coupon rate and market yields on the latest month’s debenture widens to more than 0.2 point, the coupon on the new issue and the long-term prime rate are revised the following month.
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