MANILA -- The rates of Bangko Sentral ng Pilipinas’ (BSP) Term Deposit Facility (TDF) fell across-the-board Wednesday even as the bid coverage ratio improved due to healthy demand.
Data released by the central bank showed that average rate of the seven-day facility declined to 4.5844 percent from 4.5967 percent during the auction last July 31.
It was offered for PHP30 billion and banks submitted PHP37.187 billion worth of tenders. The auction committee made a full award. Its bid coverage ratio rose to 1.2396.
The average rate of the 15-day facility went down to 4.6176 percent from 4.6548 percent last week.
It was offered for PHP30 billion and received tenders amounting to PHP44.427 billion. The auction committee made a full award. Bid coverage ratio improved to 1.4809 from the previous auction’s 0.9926.
The rate of the 28-day facility went down to 4.6033 percent from 4.6853 percent in the previous auction.
It was offered for PHP20 billion and received tenders totaling PHP41.8 billion. The auction committee made a full award. With tenders more than twice the offered volume, bid coverage ratio likewise improved to 2.09 from 0.9205. (PNA)
