BORROWINGS. The government will offer PHP215 billion worth of government securities in November 2022, higher by PHP15 billion compared to this month's offerings. National Treasurer Rosalia de Leon on Thursday (Oct. 27, 2022) attributed the increase in the borrowing program to five weeks of Treasury bill (T-bill) auctions, a week more than this month's program. (File photo)
MANILA – Government borrowings for November 2022 have been set at PHP215 billion, higher than this month’s PHP200 billion.
“Because (it is for) five weeks,” National Treasurer Rosalia de Leon told journalists in a Viber message.
Data released by the Bureau of the Treasury (BTr) on Thursday showed that Treasury bills (T-bills) offering remains at PHP5 billion for each of the 91-day, 182-day, and 364-day tenors.
T-bills auctions are normally scheduled on Mondays, except during holidays.
For November, there will be five T-bills auctions, higher than this month’s four weeks. The issue date for the T-bills, which is two days after every auction, is scheduled on November 3, 9, 16, 23, and 29.
For Treasury bonds (T-bond), the offering is also still at PHP35 billion per auction.
T-bond auctions are held every Tuesday, with tenors of three years, five years, 12 years, and 20 years starting in the first week, respectively.
T-bills and T-bond auctions are regular fundraising exercises of the government to help finance its programs and projects, as well as pay its other expenses.
Domestic borrowings in recent years usually account for about 75 percent of the annual program as the government takes advantage of lower interest rates domestically compared to overseas and reduces foreign exchange risks. (PNA)
