COMMONWEALTH BANK CUTS AUSTRALIAN SPLIT PRIME
  The Commonwealth Bank of Australia said
  it will lower its reference rate for loans to 15.75 pct from
  16.25 pct and its overdraft reference rate to 16.25 pct from
  16.75, effective June 24.
      Bank officials have said the bank regards the overdraft
  reference rate, based on short-term rate trends, as its key
  prime lending rate to corporate customers. The loan reference
  rate is based on longer term trends.
      The bank is the latest to cut prime rates in recent days
  following a continuing decline in market rates. Other prime
  rates now range from 16 pct to 17.5 pct.
  

