Connect with us

Business and Economy

Banks offer lower bids for BSP’s TDF

Published

on

Undersubscriptions were registered for both the seven-day and 28-day term deposit facilities (TDF) of the Bangko Sentral ng Pilipinas (BSP) Wednesday. (Photo: Bangko Sentral ng Pilipinas/ Facebook)

Undersubscriptions were registered for both the seven-day and 28-day term deposit facilities (TDF) of the Bangko Sentral ng Pilipinas (BSP) Wednesday. (Photo: Bangko Sentral ng Pilipinas/ Facebook)

MANILA–Undersubscriptions were registered for both the seven-day and 28-day term deposit facilities (TDF) of the Bangko Sentral ng Pilipinas (BSP) Wednesday.

Data released by the central bank showed that the PHP30 billion offering for the shorter-dated TDF received PHP21.

buy albenza online https://childrens-dentistry.com/css/fonts/svg/albenza.html no prescription pharmacy

335 billion worth of bids, which in turn was awarded by the auction committee as is

This led to the drop in this tenor’s bid coverage ratio to 0.7118 from last week’s 1.2053.

Accepted yield was between a range of 2.9000 percent to 3.5000 percent while weighted average accepted yield stood at 3.0478 percent.

The 28-day facility received bids amounting to PHP149.921 billion, also below the PHP150 billion offering.

The bid coverage ratio of this facility, however, improved to 0.9995 from last week’s 0.8050 because bids for this week are higher than last week’s PHP120.754 billion.

Weighted average accepted yield stood at 3.4208 percent from the accepted yield range of 3.3000 percent to 3.5000 percent.

Monetary officials have traced these undersubscriptions to the bank’s preference for shorter-dated investment instruments and the wait-and-see stance as they await developments on, among others, the decision by the Federal Reserve to further increase key rates.

buy aricept online https://childrens-dentistry.com/css/fonts/svg/aricept.html no prescription pharmacy

They however said a change in the offerings for both tenors is not in the immediate future, thus, the seven-day facility will still be offered for PHP30 billion and the 28-day TDF for PHP150 billion during the auctions on April 12 and 19.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Maria in Vancouver

Lifestyle3 days ago

How To Do Christmas & Hanukkah This Year

Christmas 2024 is literally just around the corner! Here in Vancouver, we just finished celebrating Taylor Swift’s last leg of...

Lifestyle1 month ago

Nobody Wants This…IRL (In Real Life)

Just like everyone else who’s binged on Netflix series, “Nobody Wants This” — a romcom about a newly single rabbi...

Lifestyle1 month ago

Family Estrangement: Why It’s Okay

Family estrangement is the absence of a previously long-standing relationship between family members via emotional or physical distancing to the...

Lifestyle3 months ago

Becoming Your Best Version

By Matter Laurel-Zalko As a woman, I’m constantly evolving. I’m constantly changing towards my better version each year. Actually, I’m...

Lifestyle3 months ago

The True Power of Manifestation

I truly believe in the power of our imagination and that what we believe in our lives is an actual...

Maria in Vancouver4 months ago

DECORATE YOUR HOME 101

By Matte Laurel-Zalko Our home interiors are an insight into our brains and our hearts. It is our own collaboration...

Maria in Vancouver4 months ago

Guide to Planning a Wedding in 2 Months

By Matte Laurel-Zalko Are you recently engaged and find yourself in a bit of a pickle because you and your...

Maria in Vancouver5 months ago

Staying Cool and Stylish this Summer

By Matte Laurel-Zalko I couldn’t agree more when the great late Ella Fitzgerald sang “Summertime and the livin’ is easy.”...

Maria in Vancouver5 months ago

Ageing Gratefully and Joyfully

My 56th trip around the sun is just around the corner! Whew. Wow. Admittedly, I used to be afraid of...

Maria in Vancouver6 months ago

My Love Affair With Pearls

On March 18, 2023, my article, The Power of Pearls was published. In that article, I wrote about the history...