The prime rate charged by big money center banks at any one time is likely to vary greatly (for example,as much as 2 to 4 percentage points)across banks due to banks' ability to differentiate themselves and because different banks operate in different parts of the country.

Question

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The prime rate is a benchmark interest rate used by banks, often set in relation to a rate determined by the Federal Reserve, and tends to be uniform across major banks as it reflects overall economic conditions rather than individual bank policies or regional differences.

The Prime Rate Charged by Big Money Center Banks at Any