MANILA — The bid coverage ratio of the Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) moved toward separate directions Wednesday after the undersubscription in the 28-day facility.
Data released by the central bank showed that the bid coverage ratio of the seven-day facility rose to 1.0973 from 1.6019 during the auction last week.
However, its weighted average accepted yield fell to 3.3402 percent from last week’s 3.3554 percent.
This after bids reached PHP43.893 billion, higher than the PHP40 billion offering but lower than the previous week’s PHP64.076 billion tenders.
The bid coverage ratio of the longer-dated facility declined to 0.8756 from 1.0288 last week.
The facility’s weighted average accepted yield, meanwhile, slightly improved to 3.4927 percent from week-ago’s 3.4925 percent.
Tenders amounted to PHP87.562 billion, lower than the PHP100 billion offering and last week’s PHP102.88 billion bids. (PNA)