NextGen Day

The country’s continued strong domestic liquidity situation, particularly after the Christmas holidays, continues to boost demand for the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF), which saw rates fall on Wednesday.

The central bank reported higher offerings for the seven-day and 14-day TDFs this week, at PHP180 billion and PHP250 billion, respectively, according to data issued by the central bank.

These amounts are PHP10 billion and PHP20 billion greater than the offer volumes for the one-week and two-week tenors during the previous auction on Dec. 29, 2021, respectively.

Both tenors received full rewards from the auction committee.

The bid coverage ratio for the one-week facility was 1.5575, with tenders totaling PHP280.34 billion.

This tenor’s average rate fell to 1.7371 percent from 1.7428 percent the previous auction.

The two-week TDF received a total of PHP451.889 billion in bids, increasing the bid coverage ratio to 1.8076.

The average rate for this tenor fell to 1.7760 percent from 1.8011 percent previously.

The results of the TDF auction this week “are in line with the anticipation of normalization in cash demand as excess liquidity in the financial sector gradually returns to the BSP’s deposit facilities,” according to BSP Deputy Governor Francisco Dakila Jr. in a statement.

“The stronger demand for longer tenors bolsters the argument that financial sector liquidity is abundant.” The BSP’s monetary operations would continue to be guided by its assessment of current liquidity conditions and market developments in the future,” he added.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---