Wall Street Journal prime rate (WSJ Prime Rate), or Prime lending rate, is a benchmark rate published by The Wall Street Journal (WSJ) based on a market survey. It is computed by taking into average the various prime rates that the ten biggest banks of the US charge from their best credit quality customers. It is the charge on relatively short-term maturity loans. The Journal surveys the big banks, and when data changes, the Journal changes its rate, which stands effective from publication date.   
• WSJ Prime Rate is a benchmark rate computed by The Wall Street Journal (WSJ)  
• It used by US banks as a reference rate for variable interest rate loan products.  
• It holds importance not just for banks or companies but also for retail banking customers. 

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