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 · Idaho edition
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Why it matters locally: While BNY Mellon does not have a major physical presence in Idaho, changes to the prime lending rate can influence interest rates for various loans across the country, potentially affecting Idaho businesses and consumers seeking credit.
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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