CHARLOTTE, N.C., Dec. 11 /PRNewswire-FirstCall/ -- Effective today,
Wachovia Corporation (NYSE: WB) lowered its prime interest rate to 7.25
percent from 7.50 percent at Wachovia Bank, National Association and all of
its other banking subsidiaries.
The prime rate is a benchmark used to set interest rates on various
forms of corporate and consumer credit. It is one of several interest rate
bases used by Wachovia, which lends at interest rates above and below the
prime rate. The prime rate last changed on Oct. 31, 2007.
About Wachovia
Wachovia Corporation (NYSE: WB) is one of the nation's largest
diversified financial services companies, with assets of $754.2 billion and
market capitalization of $95.3 billion at September 30, 2007. Wachovia
provides a broad range of retail banking and brokerage, asset and wealth
management, and corporate and investment banking products and services to
13 million household and business customers. Wachovia has 3,400 retail
financial centers in 21 states from Connecticut to Florida and west to
Texas and California, and nationwide retail brokerage, mortgage lending and
auto finance businesses. Globally, clients are served in selected corporate
and institutional sectors and through more than 40 international offices.
Our retail brokerage operations under the Wachovia Securities brand name
manage more than $800 billion in client assets through 11,400 registered
representatives in 786 offices nationwide. The acquisition of A.G. Edwards,
Inc., following the end of the third quarter, added approximately 740
offices, 6,300 financial consultants and $384 billion in brokerage client
assets. Online banking is available at wachovia.com; online brokerage
products and services at wachoviasec.com; and investment products and
services at evergreeninvestments.com.
SOURCE Wachovia Corporation
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Related links:
http://www.wachovia.com/
http://www.prnewswire.com/comp/314125.html/
CONTACT:
Media, Christy Phillips-Brown,
+1-704-383-8178, or Carol Clarke, +1-704-383-5188, or Investors,
Alice Lehman, +1-704-374-4139, or Ellen Taylor, +1-704-383-1381,
all of Wachovia Corporation
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