By Kris Crismundo/PNA
MANILA – The Bureau of Treasury (BTr) awarded the 91-day Treasury bills (T-bills) in full while rejecting tenders for the 182- and 364-day T-bills during Monday’s auction.
BTr awarded the PHP4 billion T-bills at 5.323 percent. Total tenders for the debt paper reached PHP6.575 billion.
On the other hand, the Auction Committee rejected bids for 182-day T-bills offered at PHP5 billion as well as the 364-day T-bills at PHP6 billion.
Total tenders for T-bills reached PHP19.3 billion, surpassing the government’s PHP15-billion offer.
“The (US) Fed would be meeting on the rate hike action, so I think they are still waiting for the outcome. And secondly, a lot of banks are holding onto their cash given a lot of this time of heavy withdrawals, they would rather prefer to stash cash rather than put into the securities,” National Treasurer Rosalia de Leon said.
