Customer Notice
Federal Reserve adjustments to the federal funds rate
![FX](/content/scotiabank/tc/en/about-scotiabank/media-centre/federal-reserve-rate-increase/_jcr_content/main-par/section_container/section-container-par/row/row-par-1/image.img.jpg/1648519369622.jpg)
Scotiabank Turks & Caicos Ltd. wishes to advise that the Federal Reserve has increased the federal funds rate to 4%, and as such the following changes will occur:
- USD Prime Rate increase from 3.50% to 4.00% effective May 5, 2022.
All products linked to USD Prime Rates will be adjusted on the effective dates indicated.