The Bangko Sentral ng Pilipinas (BSP) on Wednesday raised the term deposit facility (TDF) volume to PHP290 billion from last week’s PHP210 billion.
In a statement, BSP Deputy Governor Francisco Dakila Jr. said the allocation for the eight-day tenor was adjusted to PHP140 billion from PHP100 billion.
The 14-day tenor was also adjusted to PHP150 billion from PHP110 billion.
Dakila said total tenders amounted to PHP293.309 billion, well within the BSP’s expected volume range.
The BSP said the eight-day tenor was slightly undersubscribed, while the 14-day tenor was oversubscribed.
“The BSP accepted PHP138.331 billion in the eight-day TDF and awarded in full the offered volume in the 14-day TDF,” Dakila said.
The resulting weighted average interest rate slightly increased by 0.09 basis point to 6.5345 percent in the eight-day TDF and remained unchanged at 6.5761 percent in the 14-day TDF.
“Looking ahead, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” he said. (PNA)
