1 month TDF rates lower, oversubscribed MB |Biz
By Lee C. Chipongian Banks continue to have high demand for the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) with fresh funds from required reserves’ cut, and pushing the yields down after the benchmark rate. The BSP offered P100 billion this week, higher than August 7’s P80 billion. Total bids amounted to P137.14 billion. The 7/8-day TDF, offered at P40 billion from the previous week’s P30 billion, attracted tenders amounting to P51.25 billion. The average rate fell to 4.4389 percent from the previous week’s 4.5844 percent. The 14-day tenor, still offered at P30 billion, were ... more