In an ideal world, though, only tardy, shiftless types will pay those high fees, prompting banks to go easier on more punctual sorts.

It was expected to prompt banks and building societies to further reduce mortgage rates, currently averaging just under 12pc.

It remained after tough Government restrictions prompted other foreign banks to leave.

Yet the prospects of slow revenue growth and increasing loan losses are prompting smaller banks to sell out at what could be their peak prices.

Muggers are robbing people at money machines with increasing frequency, prompting banks and some cities to take unusual protective measures.

The action prompted major banks to follow suit immediately, causing borrowing costs to rise for millions of Americans.

Analysts said the recent rise in short-term rates, if sustained, was likely to prompt commercial banks to lift the prime lending rate, now at 8.5 percent.

Republic's move is significant because it could prompt other banks to revalue their loan portfolios and also take write-downs.

The increase, the Fed's seventh in 12 months, prompted large banks to follow suit immediately, causing borrowing costs to rise for millions of Americans.

It prompted banks to raise prime rates for the second time in less than two weeks.