Federal fund rates increase
effective December 16, 2022
![Computer](/content/scotiabank/ky/en/about-scotiabank/media-centre/prime-rate-increase-effective-november-2-2022-scotiabank-cayman/_jcr_content/main-par/section_container_co/section-container-par/row/row-par-1/image.img.png/1663946743961.png)
Scotiabank & Trust (Cayman) Ltd. wishes to advise that due to the announcement by the Federal Reserve to increase the federal funds rate by 0.50% on December 14, 2022, the following changes will occur:
- USD Prime Rate increase from 7.00% to 7.50%, effective December 16, 2022
- KYD Prime Rate increase from 7.00% to 7.50%, effective December 16, 2022
All products linked to USD and KYD Prime Rates will be adjusted on the effective dates indicated.