BSP term deposit facility rates rise again

The interest rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) rose anew Wednesday due to strong demand.

Data released by the central bank showed that the average yield of the seven-day facility increased to 1.9373% from last week’s 1.8813%.

Rate of the 14-day TDF went up to 2.0337% percent from 1.9051% during the auction last Oct. 21.

The BSP kept the offer volume for the seven days TDF at P220 billion, and the 14 days at P270 billion. Both were fully awarded.

Tenders for the shortest tenor facility reached P227.445 billion.

Its bid coverage ratio increased to 1.0338 from last week’s 1.0271 when bids amounted to P225.955 billion.

Tenders for the 14-day TDF totalled P325.525 billion, higher than last week’s P292.925 billion. This resulted in the rise of the bid coverage ratio to 1.2056 from last week’s 1.0849. (PNA)

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