MANILA – The country’s Treasury bill (T-bill) rates declined Monday on back of continued strong demand for government securities and the high liquidity environment.
The rate of the 91-day paper declined to 0.969 percent, the 182-day to 1.323 percent and the 364-day to 1.542 percent.
These were at 0.984 percent, 1.348 percent and 1.582 percent for the three-month, six-month, and one-year paper during the auction last Jan. 18.
The Bureau of the Treasury (BTr) offered the shortest tenor for PHP5 billion and the auction committee made a full award. Total bids reached PHP17.33 billion.
The six-month paper was initially offered for PHP5 billion but the auction committee doubled the non-competitive bids, resulting in the total award of PHP7 billion. Total tenders amounted to PHP31.527 billion.
The one-year paper was fully-awarded at PHP10 billion after total tenders reached PHP63.355 billion.
National Treasurer Rosalia de Leon said they opened the tap facility during the day to offer the one-year paper for additional PHP10 billion.
Data released by the BTr showed it fully awarded the PHP10-billion offering through the tap facility. Total bids reached PHP33.172 billion.
“Market (is) overflowing with liquidity with bias on (the) front end of (the) curve,” de Leon added. (PNA)
