BSP to auction P80-B under TDF this week

MANILA — The Bangko Sentral ng Pilipinas (BSP) will offer PHP80 billion under its term deposit facility (TDF) on Wednesday.

In an advisory, the central bank said the seven-day and 14-day facilities will be auctioned for PHP30 billion each while the 28-day facility will be offered for PHP20 billion.

During the auction last September 2, the shortest tenor TDF was offered for PHP30 billion and received bids amounting to PHP34.272 billion.

The 14-day facility was offered for PHP20 billion and received tenders amounting to PHP30.834 billion.

The 28-day TDF was offered for PHP20 billion and got bids reaching PHP27.042 billion.

The TDF is among the central bank’s facilities targeted to siphon off excess liquidity in the market. Joann Villanueva /PNA- northboundasia.com