{"id":98992,"date":"2017-04-19T03:37:27","date_gmt":"2017-04-19T07:37:27","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=98992"},"modified":"2017-04-19T03:37:27","modified_gmt":"2017-04-19T07:37:27","slug":"bids-for-bsps-7-day-tdf-surpass-offering-28-day-facility-remain-undersubscribed","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/04\/19\/bids-for-bsps-7-day-tdf-surpass-offering-28-day-facility-remain-undersubscribed\/","title":{"rendered":"Bids for BSP\u2019s 7-day TDF surpass offering, 28-day facility remain undersubscribed"},"content":{"rendered":"<figure id=\"attachment_84235\" aria-describedby=\"caption-attachment-84235\" style=\"width: 960px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/Bangko-Sentral-ng-Pilipinas.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-84235\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/Bangko-Sentral-ng-Pilipinas.jpg\" alt=\"Banks continue to shy away from the 28-day Term Deposit Facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) but the seven-day facility has regained its attractiveness.  (Photo: Bangko Sentral ng Pilipinas\/Facebook)\" width=\"960\" height=\"473\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/Bangko-Sentral-ng-Pilipinas.jpg 960w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/Bangko-Sentral-ng-Pilipinas-300x148.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/Bangko-Sentral-ng-Pilipinas-768x378.jpg 768w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><figcaption id=\"caption-attachment-84235\" class=\"wp-caption-text\">Banks continue to shy away from the 28-day Term Deposit Facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) but the seven-day facility has regained its attractiveness. (Photo: <a href=\"https:\/\/www.facebook.com\/BangkoSentralngPilipinas\/photos\/a.335647726499063.76156.154917097905461\/920355694694927\/?type=1&amp;amp;theater\">Bangko Sentral ng Pilipinas\/Facebook<\/a>)<\/figcaption><\/figure>\n<p>MANILA\u2014Banks continue to shy away from the 28-day Term Deposit Facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) but the seven-day facility has regained its attractiveness.<\/p>\n<p>Data released by the central bank Wednesday showed that bids for the shorter-dated facility reached PHP41.342 billion, higher than the PHP30 billion offering and the PHP29.724 billion tenders in last week\u2019s auction.<\/p>\n<p>The auction committee made a full award for this tenor, which fetched a bid coverage ratio of 1.3781, higher than the 0.9908 last week.<\/p>\n<p>The facility\u2019s accepted yield remained between 2.9000-3.5000 percent but weighted average accepted yield rose to 3.3615 percent from the previous rate of 3.2109 percent.<\/p>\n<p>On the other hand, the longer-tenor TDF remained undersubscribed after tenders only reached PHP86.166 billion, lower than the PHP150 billion offering and the PHP100.183 billion tenders last week.<\/p>\n<p>The auction committee accepted all the bids and this resulted to a bid coverage ratio of 0.5744, lower than the 0.6679 in the previous auction.<\/p>\n<p>The lower end of the accepted yield\u2019s range was cut to 3.2500 percent from last week\u2019s 3.3000 percent but the higher end is still at 3.5000 percent.<\/p>\n<p>Weighted average accepted yield improved to 3.4565 percent from last week\u2019s 3.4499 percent.<\/p>\n<p>TDF is part of the BSP\u2019s Interest Rate Corridor (IRC) program, which started in June 2016.<\/p>\n<p>IRC is being implemented to help the central bank better manage inflation and promote long-term sustainable growth as well as enhance the link between the central bank\u2019s policy stance and the real economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u2014Banks continue to shy away from the 28-day Term Deposit Facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) but &hellip;<\/p>\n","protected":false},"author":33,"featured_media":84235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[1216,15625],"class_list":["post-98992","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bangko-sentral-ng-pilipinas","tag-term-deposit-facility","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/98992","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=98992"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/98992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/84235"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=98992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=98992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=98992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}