NextGen Day

The term deposit facility (TDF) rate of the Bangko Sentral ng Pilipinas (BSP) saw a little increase on Wednesday, and the facility received lesser bids, leading to partial awards.

According to central bank data, the average interest rate for a seven-day facility increased to 4.9569 percent and for a 14-day facility to 5.0567 percent.

During the auction last October 26, they were at 4.8146 percent for the one-week TDF and at 4.9044 percent for the two-week facility.

The BSP charged PHP220 billion for the seven-day facility, up from PHP170 billion a week earlier.

There were PHP144.578 billion in total tenders, and the BSP awarded PHP127.778 billion.

The price for the two-week facility was increased from PHP110 billion to PHP160 billion.

The awarded volume was PHP115.909 billion, with lower bids of PHP116.709 billion.

The accepted yields for the shorter-dated facility “moved higher but were in a constant range of 4.8000-5.1500 percent,” according to a statement from BSP Deputy Governor Francisco Dakila Jr., while those for the longer tenor increased to between the range of 4.7500-5.3500 percent.

The outcomes of the TDF auction, he continued, “reflect the lower excess liquidity in the short term as well as the decreased demand for the BSP deposit facility following the All Saints’ Day vacations.”

The BSP’s monetary operations, he continued, “would continue to be informed by its evaluation of the most recent market developments and liquidity conditions.”

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