Manila Bulletin

BSP ups TDF volume; rates still down

The central bank’s term deposit facility (TDF) has a higher offered volume this week of ₱510 billion versus ₱490 billion on April 28, but yields were still down as banks await the decision of the Monetary Board’s policy meeting next Thursday. Based on Bangko Sentral ng Pilipinas (BSP) numbers, total tenders yesterday reached ₱583.06 billion, higher than last week’s ₱546.57 billion. The 7-day TDF was offered at ₱150 billion, ₱10 billion more than last week’s auction. It attracted ₱157.38 billion bids, lower than ₱174.27 billion previously. Bid coverage ratio was at 1.1824. The shorter tenor’s average interest rate fell to 1.7314 percent from 1.7411 percent last week. The 14-day TDF also has a higher volume this week of ₱360 billion from ₱350 billion previously. Tenders totaled ₱425.68 billion, up from ₱372.30 billion last April 28. Bid coverage ratio was at 1.0492. Its yield, in the meantime, dropped to 1.7486 percent versus last week’s 1.7601 percent. BSP Deputy Governor Francisco G. Dakila Jr. noted that both tenors continue to be oversubscribed, with the 7-day’s bids exceeding the volume by 1.05x, and 1.18x for the 14-day percent,” said Dakila. (Lee C. Chipongian)

Business

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2021-05-06T07:00:00.0000000Z

2021-05-06T07:00:00.0000000Z

https://manilabulletin.pressreader.com/article/281908776013340

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