{"id":252995,"date":"2020-04-23T06:52:23","date_gmt":"2020-04-23T10:52:23","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=252995"},"modified":"2020-04-23T06:52:23","modified_gmt":"2020-04-23T10:52:23","slug":"bsps-term-deposit-facility-rate-declines-on-high-demand","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/04\/23\/bsps-term-deposit-facility-rate-declines-on-high-demand\/","title":{"rendered":"BSP&#8217;s term deposit facility rate declines on high demand"},"content":{"rendered":"<figure id=\"attachment_239989\" aria-describedby=\"caption-attachment-239989\" style=\"width: 1920px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/12\/manila-2832784_1920.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-239989\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/12\/manila-2832784_1920.jpg\" alt=\"\" width=\"1920\" height=\"1280\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/12\/manila-2832784_1920.jpg 1920w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/12\/manila-2832784_1920-300x200.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/12\/manila-2832784_1920-768x512.jpg 768w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/12\/manila-2832784_1920-1024x683.jpg 1024w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption id=\"caption-attachment-239989\" class=\"wp-caption-text\">Data released by the central bank showed that average accepted yield of the facility fell to 2.4369 percent from 2.9578 percent during the auction last April 15. (Pixabay photo)<\/figcaption><\/figure>\n<div dir=\"auto\"><strong>MANILA<\/strong>\u00a0\u2013 Rate of the Bangko Sentral ng Pilipinas\u2019 (BSP) seven-day term deposit facility (TDF) fell Wednesday due to strong demand and further cut in the central bank\u2019s key policy rates.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Data released by the central bank showed that average accepted yield of the facility fell to 2.4369 percent from 2.9578 percent during the auction last April 15.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">BSP offered the facility at PHP30 billion and made a full award after tenders reached PHP119.288 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The large volume of bids resulted in the bid coverage ratio of 3.9763 this week.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">This is higher than the 2.6165 bid coverage ratio in the previous week\u2019s auction when tenders reached PHP78.496 billion, more than twice the PHP30-billion offer.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In a statement, BSP Deputy Governor Francisco Dakila said the 52.1 basis points drop in the seven-day TDF\u2019s average rate \u201cis consistent with the 50 basis points cut in the (BSP) policy rate on 16 April 2020.\u201d<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cMore importantly, the results of today\u2019s auction reflect the impact of the recent measures by the BSP to boost market liquidity as well as indicative of a\u00a0 broader increase in market appetite for BSP instruments and government securities,\u201d he added.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 Rate of the Bangko Sentral ng Pilipinas\u2019 (BSP) seven-day term deposit facility (TDF) fell Wednesday due to strong demand &hellip;<\/p>\n","protected":false},"author":44,"featured_media":239989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-252995","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/252995","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=252995"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/252995\/revisions"}],"predecessor-version":[{"id":252999,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/252995\/revisions\/252999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/239989"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=252995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=252995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=252995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}