Business Technology, Finance Technology & Information Technology
Higher yield is obtained from undersubscribed 28-day securities: BSP
Following a Friday auction that saw an under-subscription of its 28-day securities, the Bangko Sentral ng Pilipinas (BSP) awarded a portion of the securities.
Only PHP109.469 billion in tenders were received for the 28-day securities, which were offered for PHP120 billion.
However, bids brought in a greater interest rate of 6.0031 percent than the auction from last week, which had a yield of 5.8005 percent.
The bid coverage ratio for this offer by BSP was 0.9122, and the accepted yields ranged from 5.7950 to 6.2000 percent.
According to a statement from BSP Deputy Governor Francisco Dakila Jr., “the under subscription in today’s auction could be ascribed to the increased demand for cash by qualified counterparties in preparation for the December holidays.”
Dakila continued by saying that the central bank would stick to its judgment of the most recent market events and liquidity conditions.
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