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The Prime Premium : Is Relationship Banking Too Costly for Some?

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  • Beim, D-O
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    Abstract

    The most important determinant of bank loan pricing is not borrower risk or other conventional variable but whether the interest rate is pegged to the Prime Rate or to a market index such as Livor. Controlling for the difference in level among such benchmarks, and for many other variables explanatory of bank loan pricing, Prime-based borrowers paid 140-150 basis points more on average during 1990-1995.

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    Bibliographic Info

    Paper provided by Columbia - Graduate School of Business in its series Papers with number 96-22.

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    Length: 29 pages
    Date of creation: 1996
    Date of revision:
    Handle: RePEc:fth:colubu:96-22

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    Postal: U.S.A.; COLUMBIA UNIVERSITY, GRADUATE SCHOOL OF BUSINESS, PAINE WEBBER , New York, NY 10027 U.S.A
    Phone: (212) 854-5553
    Web page: http://www.columbia.edu/cu/business/
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    Related research

    Keywords: BANKS ; LOANS ; INTEREST RATE;

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    Cited by:
    1. Charles Calomiris & Thanavut Pornrojnangkool, 2009. "Relationship Banking and the Pricing of Financial Services," Journal of Financial Services Research, Springer, Springer, vol. 35(3), pages 189-224, June.
    2. Hubbard, R Glenn & Kuttner, Kenneth N & Palia, Darius N, 2002. "Are There Bank Effects in Borrowers' Costs of Funds? Evidence from a Matched Sample of Borrowers and Banks," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 75(4), pages 559-81, October.
    3. Charles W. Calomiris & Thanavut Pornrojnangkool, 2005. "Monopoly-Creating Bank Consolidation? The Merger of Fleet and BankBoston," NBER Working Papers 11351, National Bureau of Economic Research, Inc.

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