Central bank sees no liquidity tightening
The weekly public sale of P180-time period deposit facility (TDF) didn't draw enough bids for the longer tenor, but with the 7-day tenor attracting extra than the P30-billion offer, the critical financial institution stated.
Overall, the Bangko Sentral ng Pilipinas (BSP) provided simply extra than P179 billion at the Wednesday public sale, short of the whole P180-billion offer.
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For the 7-day tenor, bids reached P39.18 billion, prompting the BSP to award the authorities’s full provide of P30 billion.
Bids for the 28-day facility totaled only P140.Seventy six billion – brief of the P150-billion provide. The BSP provided P140.Seventy six billion.
The hobby price for the seven-day facility rose to 2.9896 percent from 2.9823 percent, whilst that for the 28-day tenor fell to a few.3028 percentage from three.3249 percent.
“There is extra choice for the seven-day device because the marketplace is positioning for any opportunistic brief-term propositions,” BSP Deputy Governor Diwa Gunigundo stated in a textual content message to newshounds.
Gunigundo additionally said that the less than 1 percentage bid-to-cowl ratio for the 28-day tenor does now not always suggest that market liquidity is tightening.
The bid-to-cowl ratio compares the wide variety of general bids with the ideal bids. The higher the ratio, the greater the public sale is considered oversubscribed.
The bid-to-cowl ratio for the 28-day tenor dropped to 0.9384 from 1.1793 the previous week. The seven-day bid-to-cowl ratio also fell to one.3062 from 1.3708 a week ago.
The weekly public sale of P180-time period deposit facility (TDF) didn't draw enough bids for the longer tenor, but with the 7-day tenor attracting extra than the P30-billion offer, the critical financial institution stated.
Overall, the Bangko Sentral ng Pilipinas (BSP) provided simply extra than P179 billion at the Wednesday public sale, short of the whole P180-billion offer.
PDEA seizes 'deadly' P120, 000 party drugs in Parañaque00:56PDEA Seizes 'Deadly' P120, 000 Party Drugs In ParañaquePacquiao on Manila Times TV02:58Pacquiao On Manila Times TVTrending Articles00:50Trending ArticlesMayor Isko Moreno: 'The Grand Old Dame' eyes go back in May03:50Mayor Isko Moreno: 'The Grand Old Dame' Eyes Return In MayGoing Up00:59Going UpCovid-19 may be contained with right measures -- WHO chief08:10Covid-19 Can Be Contained With Right Measures -- WHO Chief'Project Destination'04:22'Project Destination''Individual Art'02:12'Individual Art'First time 'Titos'01:16First Time 'Titos'WATCH: FDCP chairman and CEO Liza Diño on FDCP’s aid to filmmakers03:09WATCH: FDCP Chairman And CEO Liza Diño On FDCP’s Support To Filmmakers
For the 7-day tenor, bids reached P39.18 billion, prompting the BSP to award the authorities’s full provide of P30 billion.
Bids for the 28-day facility totaled only P140.Seventy six billion – brief of the P150-billion provide. The BSP provided P140.Seventy six billion.
The hobby price for the seven-day facility rose to 2.9896 percent from 2.9823 percent, whilst that for the 28-day tenor fell to a few.3028 percentage from three.3249 percent.
“There is extra choice for the seven-day device because the marketplace is positioning for any opportunistic brief-term propositions,” BSP Deputy Governor Diwa Gunigundo stated in a textual content message to newshounds.
Gunigundo additionally said that the less than 1 percentage bid-to-cowl ratio for the 28-day tenor does now not always suggest that market liquidity is tightening.
The bid-to-cowl ratio compares the wide variety of general bids with the ideal bids. The higher the ratio, the greater the public sale is considered oversubscribed.
The bid-to-cowl ratio for the 28-day tenor dropped to 0.9384 from 1.1793 the previous week. The seven-day bid-to-cowl ratio also fell to one.3062 from 1.3708 a week ago.
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