MANILA -- Rates of the Bangko Sentral ng Pilipinas (BSP) term deposit facility (TDF) ended mixed Wednesday.
Average rate of the seven-day facility declined to 4.2055 percent from 4.2264 percent during the auction last October 16.
It was offered for PHP20 billion and was awarded in full after tenders reached PHP32.563 billion.
This resulted in the improvement of the bid coverage ratio to 1.6282 from 1.3062 during the auction last October 16.
Bids in the previous session reached PHP39.185 billion, higher than the PHP30-billion offer but lower relative to the tenders and offer this week.
Rate of the 14-day facility increased to 4.2477 percent from 4.2348 percent in the previous session.
It was offered for PHP30 billion and received tenders amounting to PHP30.24 billion, lower than the PHP35.52 billion last week. Bid coverage ratio thus declined to 1.0080 from 1.1840 in the previous auction.
The average rate of the 28-day facility rose to 4.2480 percent compared to the 4.2227 percent previously.
Offer this week was raised to PHP40 billion from PHP30 billion last week but tenders only reached PHP37.686 billion, lower than the PHP39.805 billion last week.
This resulted in the drop in the bid coverage ratio to 0.9422 from 1.3268 in the previous auction. (PNA)
