5 months TDF undersubscribed; rates lower this week MB |Biz
By Lee C. Chipongian Yields and bids of the central bank’s term deposit facility (TDF) fell this week, with tenders reaching only P29.15 billion against offer of P40 billion. All three tenors’ average rate dropped, with the 28-day yields declining to 4.5974 percent versus the previous week’s 4.6380 percent. Bids for the longest-dated TDF amounted to P8.06 billion, lower than May 22’s P10.37 billion and against offer of P10 billion. The 14-day tenor, still offered at P10 billion, only attracted P6.11 billion, also lower compared to last week’s P8.28 billion. The average rate for the mid-tenor decreased to 4.5910 ... more