By Joann Villanueva/Philippine News Agency
MANILA — All three tenors of the Bangko Sentral ng Pilipinas’ (BSP) will be offered during the auction scheduled on Wednesday, July 10, 2019.
In an advisory, the central bank said each of the seven, 14, and 28-day facility will be offered for PHP20 billion.
The BSP has recently adopted a new policy of announcing the TDF volume up for auction only two days in advance instead of the previous one week in order to give it a better outlook of the liquidity situation.
However, the BSP released the offer volume announcement for this week only today, Tuesday.
During the auction last July 3, the central bank also offered all tenors, with rates of all tenors lower than in the previous auction.
Average rate of the seven-day declined to 4.5537 percent and the 14-day TDF to 4.6129 percent. These were at 4.6240 percent and 4.7002 percent for the shortest and mid-tenor TDF during the auction last June 26.
The rate of the 28-day facility also went down to 4.6347 percent from 4.7848 percent during the auction last June 13.
All the tenors in last week’s auction were oversubscribed, which BSP Governor Benjamin E. Diokno pointed to higher domestic liquidity partly because of the cut in banks’ RRR (reserve requirement ratio).
For the latest updates about this story, visit the Philippine News Agency website
