{"id":143928,"date":"2018-01-05T01:30:27","date_gmt":"2018-01-05T06:30:27","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=143928"},"modified":"2018-01-05T01:30:27","modified_gmt":"2018-01-05T06:30:27","slug":"fmic-exec-welcomes-possibility-of-3rd-tdf-tenor","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/05\/fmic-exec-welcomes-possibility-of-3rd-tdf-tenor\/","title":{"rendered":"FMIC exec welcomes possibility of 3rd TDF tenor"},"content":{"rendered":"<figure id=\"attachment_143943\" aria-describedby=\"caption-attachment-143943\" style=\"width: 468px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/01\/newLogo.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-143943\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/01\/newLogo.png\" alt=\"FILE: In an interview, FMIC Senior Vice President Christopher Ma. Carmelo Y. Salazar said the third tenor would probably be a 14-day facility since it is between the current seven-day and 28-day facilities. (Photo: firstmetro.com.ph)\" width=\"468\" height=\"98\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/01\/newLogo.png 468w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/01\/newLogo-300x63.png 300w\" sizes=\"auto, (max-width: 468px) 100vw, 468px\" \/><\/a><figcaption id=\"caption-attachment-143943\" class=\"wp-caption-text\">FILE: In an interview, FMIC Senior Vice President Christopher Ma. Carmelo Y. Salazar said the third tenor would probably be a 14-day facility since it is between the current seven-day and 28-day facilities. (Photo: firstmetro.com.ph)<\/figcaption><\/figure>\n<p>MANILA \u2014 An official of First Metro Investment Corp. (FMIC) welcomes the news about the possibility of the central bank introducing a third Term Deposit Facility (TDF) tenor, citing that this will be an additional option for banks to temporarily keep their excess funds.<\/p>\n<p>In an interview, FMIC Senior Vice President Christopher Ma. Carmelo Y. Salazar said the third tenor would probably be a 14-day facility since it is between the current seven-day and 28-day facilities.<\/p>\n<p>He said this tenor \u201ccould be more viable than the 28 days because market is looking for short-term.\u201d<\/p>\n<p>\u201cAfter all it\u2019s just excess fund at the moment. They just want to park it somewhere to earn but you don\u2019t want to tie it up there for a long time,\u201d he told journalists after FMIC\u2019s economic briefing Thursday.<\/p>\n<p>Salazar added that a 14-day facility might be something that would work for now \u201cuntil the liquidity comes back\u201d, referring to undersubscription in the longer tenor TDF in the last months of 2017.<br \/>\nThe Bangko Sentral ng Pilipinas (BSP) has cancelled the auction for the 28-day TDF in the last three weeks of December because banks have submitted bids that are less than the PHP40 billion offering.<\/p>\n<p>BSP Deputy Governor Diwa Guinigundo earlier said they understood banks\u2019 decision to offer less for the 28-day TDF given the high liquidity requirements of their clients during the holidays.<\/p>\n<p>He said BSP and bank officials are now in talks on the possible introduction of a third TDF tenor but stressed that discussions are on early stages.<\/p>\n<p>BSP introduced the TDF facility in June 2016 to provide banks additional option to park excess funds. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA \u2014 An official of First Metro Investment Corp. (FMIC) welcomes the news about the possibility of the central bank &hellip;<\/p>\n","protected":false},"author":33,"featured_media":143943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[29530,41814],"class_list":["post-143928","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-first-metro-investment-corp-fmic","tag-third-term-deposit-facility-tdf-tenor","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/143928","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=143928"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/143928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/143943"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=143928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=143928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=143928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}