Both tenors of the term deposit facility (TDF) auctioned off by the Bangko Sentral ng Pilipinas (BSP) yesterday were oversubscribed as total volume was reduced a week earlier to P140 billion.
For the P40-billion seven-day TDF, banks tendered P64.076 billion.
The BSP accepted the one-week term deposits at a yield of 3.23-3.38 percent, lower than the 3.32-3.4 percent range last week.
As for the P100-billion 28-day facility, bids reached P102.88 billion.
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The one-month TDF was awarded at 2.5-3.5 percent, below last week’s yield of 3.45-3.5 percent.
Since last week, the BSP has been offering P40 billion in seven-day on top of P100 billion in 28-day TDF.
