Today’s JP Morgan Chase Prime Rate is 3.25. The Prime Interest Rate is the reference interest rate charged by banks to their prominent, stable customers. It is an index and not a law but it is almost always the same amongst major banks. When it does infrequently change, the banks usually adjust at the same time. The Prime Rate is often used as an index or foundation rate to calculate changes to the interest paid on adjustable rate mortgages and other variable loans. Providers of loans will use the Prime Rate as their base lending rate and then add a profit margin which is usually based on the risk involved. Lenders may offer Below-Prime-Rate loans in order to generate new business with financially secure customers. The Prime Rate remains consistent in order to enable banks to offer profitable yet competitive loans to individuals and businesses who can then compare similar loan products offered by various competing banks. JP Morgan Chase & Co. Is one of the big four banks of America and is a leading global financial services firm. They deal with investment banking and retail banking, financial transaction processing, asset management and private equity. They have assets of $2 trillion. They operate in more than 60 countries and have over 200,000 employees. Their millions of customers range from small businesses to the world's most prominent corporate, institutional and government clients. The corporate headquarters are in New York City and the retail and commercial bank is headquartered in Chicago. The company was formed in 2000 when Chase Manhattan, founded in 1799, merged with J.P Morgan & Co. JP Morgan Chase divide the business into six sections; Investment Banking, Retail Financial Services, Card Services, Commercial Banking, Treasury and Security Services, Asset Management and Corporate.