P100-B in TDF to be offered today: BSP

MANILA -- The Bangko Sentral ng Pilipinas (BSP) said it will offer PHP100 billion under its Term Deposit Facility (TDF) today.

In an advisory, the central bank said the eight-day facility will be offered for PHP40 billion, and the 14day and 28-day facilities for PHP30 billion each.

The adjustment on the shortest tenor, which is a seven-day facility, was made in line with the holiday on August 21, a regular TDF auction day.

Last week, the BSP awarded PHP30 billion worth each of seven-day and 15-day TDF and PHP20 billion worth of 28-day TDF, based on its offer.

Tenders for the shortest tenor TDF reached PHP37.187 billion; the 15-day, PHP44.427 billion; and 28-day, PHP41.80 billion.

Monetary officials said tenders submitted during the TDF auctions are based on banks’ outlook on liquidity requirements, as well as on interest rates. (PNA)