Business Technology, Finance Technology & Information Technology
T-bills are awarded by BTr in part at higher rates.
On Monday, T-bill rates increased, and the Bureau of the Treasury (BTr) only gave partial awards in all areas due to oversubscription.
The average rate for the 91-day paper increased to 5.50%, for the 182-day paper to 5.71%, and for the 364-day paper to 6.073%.
During the auction on April 11, they were at 5.314 percent, 5.700 percent, and 5.991 percent for the three-month, six-month, and one-year papers.
All tenors were offered PHP5 billion by BTr, however only PHP1.5 billion, PHP3.45 billion, and PHP4.225 billion were awarded for the three-month paper, six-month paper, and one-year T-bill, respectively.
The total amount of bids for the 91-day T-bill was PHP5.2 billion; for the 182-day and 364-day tenors, it was PHP7.05 billion and PHP7.575 billion, respectively.
The increase in T-bill rates is consistent with the central bank’s adjustment to its key policy rates, which were raised by a total of 425 basis points between May 2022 and March of this year. (
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