NextGen Day

Due to the national holiday celebrating Eid al-Adha, the term deposit facility (TDF) rates of the Bangko Sentral ng Pilipinas (BSP) shifted in opposite directions on Thursday.

During the auction last June 21, the six-day facility’s average rate increased to 6.5847 percent from 6.5835 percent.

On the other hand, the 14-day facility’s rate decreased from 6.5966 percent last week to 6.5961 percent this week.

The BSP increased the offering size for the six-day tenor from last week’s PHP120 billion to PHP140 billion.

Tenders only totaled PHP134.829 billion, though. The auction committee approved bids totaling PHP131.829 billion.

The 13-day TDF offering from BSP was reduced from PHP110 billion last week to PHP100 billion.

After bids reached PHP110.426 billion, the auction committee made a complete award.

The range of yields accepted in this week’s TDF auction increased but narrowed to between 6.5500 and 6.6200 for the six-day TDF. At the same time, those for the 13-day tenor decreased and spread to between 6.5000 and 6.6188 percent, according to a statement from BSP Deputy Governor Francisco Dakila Jr.

HE ADDED THAT the BSP’s monetary operations will continue to be directed by its evaluation of current liquidity conditions and market developments.

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