business
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BNY Mellon Raises Prime Lending Rate to 7.00%
BNY Mellon announced a 0.25% increase in its prime lending rate, moving it from 6.75% to 7.00%. The change applies starting Thursday, September 17, 2026.
09/27/2026 · New Jersey edition
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Why it matters locally: The increase in BNY Mellon's prime lending rate will likely lead to higher borrowing costs for New Jersey businesses and consumers with variable-rate loans, potentially impacting economic activity and investment in the state.
NEW YORK – The Bank of New York Mellon Corporation (BNY) increased its prime lending rate by 0.25%, raising it from 6.75% to 7.00%. This adjustment becomes effective Thursday, September 17, 2026. BNY Mellon, a global financial services company, made the announcement today, September 16, 2026. The institution trades on the New York Stock Exchange under the ticker BNY.Related Topics
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