MANILA -- Data from the Bangko Sentral ng Pilipinas (BSP) showed that weighted average accepted yields for term deposit facility (TDF) across all tenors declined on Wednesday’s auction.
The central bank awarded in full the seven-day TDF at 3.757 percent rate, lower than last week’s yield of 3.7779 percent.
This tenor was offered at PHP40 billion, but tenders for the short-term TDF amounted to PHP49.38 billion.
The 14-day TDF fetched a weighted average rate of 3.9258 percent, declining from its 3.9309 percent yield in last week’s auction.
Likewise, the facility was oversubscribed at PHP51.39 billion, where it was only bidded at PHP40 billion.
Rates for the 28-day TDF also decreased its yield to 3.9346 percent this week from last week’s interest rate of 3.9442 percent.
Tenders were also higher than the PHP20 billion offering for the 28-day TDF, as bids reached PHP28.23 billion.
Meanwhile, the BSP will offer the same amount of TDF next week amounting to PHP100 billion. TDF offerings remain stable at this level since June 6. (PNA)
