No. 11



Lebanese Banks Cut Prime Lending Rate In Local Currency To 16%

The Lebanese Banks Association announced on 12 March a cut in theprime lending rate on the Lebanese Pound (LL) to 16% from 18% in line with falling yieldson treasury bills. The prime rate, which commercial banks charge for loans to their bestcustomers, was reduced in mid-January 1997 from 24% to 18%. In January 1996 the rate wascut from 30% to 24%. The latest reduction brought the prime rate...