{"id":143337,"date":"2018-01-02T22:04:12","date_gmt":"2018-01-03T03:04:12","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=143337"},"modified":"2018-01-02T22:04:12","modified_gmt":"2018-01-03T03:04:12","slug":"bsp-bank-execs-mull-3rd-tdf-tenor","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/02\/bsp-bank-execs-mull-3rd-tdf-tenor\/","title":{"rendered":"BSP, bank execs mull 3rd TDF tenor"},"content":{"rendered":"
\"The<\/a>
The central bank executive said banks needed the money to service their clients’ higher liquidity needs during the holidays. (Photo<\/a>: Bangko Sentral ng Pilipinas\/Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014 Regulators and bank officials are currently in talks over the possibility of introducing a third Term Deposit Facility (TDF) tenor.<\/p>\n

This as the 28-day facility remains undersubscribed, especially ahead of the Christmas season, which made the central bank stop offering it for auction.<\/p>\n

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said central bank officials understand why banks offered less bids for the longer-term TDF.<\/p>\n

“We know that banks have alternative use for their money instead of just putting their (funds) with the BSP,” he said.<\/p>\n

The central bank executive said banks needed the money to service their clients’ higher liquidity needs during the holidays.<\/p>\n

He, however, stressed that this situation “does not prevent us from considering other tenors”.<\/p>\n

Aside from the 28-day facility, the TDF also has a seven-day tenor.<\/p>\n

Guinigundo said bank officials had suggested a third tenor “probably between seven and 28 days”.<\/p>\n

“Whatever that is, it is something subject to discussion between the BSP and the banks,” he added.<\/p>\n

Operations of the TDF facility began in June 2016 as a central bank measure to provide banks another option for their excess liquidity.<\/p>\n

BSP officials said they were satisfied with how the TDF had been serving its purpose.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014 Regulators and bank officials are currently in talks over the possibility of introducing a third Term Deposit Facility (TDF) …<\/p>\n","protected":false},"author":33,"featured_media":135062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[41454,1215,30891],"class_list":["post-143337","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bank-execs-mull-3rd-tdf-tenor","tag-bsp","tag-term-deposit-facility-tdf","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/143337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=143337"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/143337\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/135062"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=143337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=143337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=143337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}