TDF posts mixed results anew

By Joann Villanueva/PNA

MANILA — Average accepted yield of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) went in different directions Wednesday, sans the undersubscription that was registered in last week’s auction.

Data released by the central bank showed that rate of the 7-day facility declined to 5.0447 percent from 5.0638 percent during the auction last January 16. Its bid coverage ratio, meanwhile, rose to 1.5078 from 1.4870 last week.

This, after the PHP20 billion offering was met with PHP30.155 billion worth of bids. The auction committee awarded all PHP20 billion.

On the other hand, rate of both the 14-day and 28-day TDF went up.

The 14-day facility’s rate increased to 5.1437 percent from the previous week’s 5.1290 percent.

Banks submitted a total of PHP20.163 billion worth of bids, higher than the PHP20 billion offering. This facility was also awarded in full. Bid coverage ratio inched up to 1.0082 from 0.8660 last week.

Similarly, rate of the 28-day TDF ended better at 5.1547 percent, from the previous week’s 5.1339 percent. On the other hand, its bid coverage ratio declined to 1.0511 from 1.2720 last week.

This transpired after tenders amounted to PHP10.511 billion, higher than the PHP10 billion offering but lower than last week’s PHP12.720 billion. The auction committee made a full award.

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