BSP’s term deposit facility rates up

By Joann Villanueva

May 3, 2023, 7:36 pm

MANILA – The rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose on Wednesday and undersubscription was registered for both the seven- and 14-day tenors.

BSP data show that the average rate of the seven-day facility increased to 6.5952 percent from 6.5898 percent during the auction on April 26.

The rate of the 14-day facility also inched up to 6.6159 percent from last week’s 6.6095 percent.

The BSP hiked the offer volume for the one-week facility to PHP190 billion from last week’s PHP170 billion.

However, bids only amounted to PHP187.453 billion. The auction committee awarded PHP185.453 billion worth of the one-week TDF.

The offer volume for the two-week TDF was increased to PHP140 billion from last week’s PHP130 billion.

Tenders reached PHP132.196 billion and the auction committee accepted PHP130.196 billion.

BSP Deputy Governor Francisco Dakila Jr. earlier said that despite the lower tenders submitted during the TDF auctions, domestic liquidity remains ample. (PNA)