FILE: Bangko Sentral ng Pilipinas[1] The Bangko Sentral ng Pilipinas (English: Central Bank of the Philippines; sometimes, Spanish: Banco Central de Filipinas), and commonly abbreviated as BSP on documents written in Filipino or English, is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993. as seen from the — Cultural Center of the Philippines[2] The Cultural Center of the Philippines (Filipino: Sentrong Pangkultura ng Pilipinas, or CCP) is a government owned and controlled corporation established to preserve, develop and promote arts and culture in the Philippines. The CCP was established through Executive Order No. 30 s. 1966 by President Ferdinand Marcos. Although an independent corporation of the Philippine government, it receives an annual subsidy and is placed under the National Commission for Culture and the Arts for purposes of policy coordination. (Photo By: Ramon FVelasquez – Own work, CC BY-SA 3.0)
MANILA – The Bangko Sentral ng Pilipinas (BSP) did not offer anew the 28-day term deposit facility (TDF) Wednesday but oversubscriptions were registered for both the seven- and 14-day facilities.
Data released by the central bank showed that the rate of the shortest tenor rose to 1.8813 percent and the 14-day to 1.9051 percent.
These were at 1.8466 percent and 1.8426 percent during the auction last Oct. 14.
The BSP offered the shortest tenor facility still for PHP220 billion, and bids reached PHP225.955 billion. This tenor was fully awarded.
Its bid coverage ratio declined to 1.0271 from 1.1568 last week when the PHP220-billion offer was met with PHP254.485 billion.
Meanwhile, the BSP hiked the offer for the 14-day facility to PHP270 billion from last week’s PHP250 billion. The auction committee made a full award.
The bid coverage ratio dropped to 1.0849 from last week’s 1.2788 when tenders totaled to PHP319.705 billion.
In a statement, BSP Deputy Governor Francisco Dakila Jr. said the volume of tenders in this week’s TDF auction is within their expectations, citing the ample liquidity in the domestic financial system.
“Looking ahead, the BSP’s monetary operations will remain guided by its assessment of market developments and liquidity conditions,” he added.
