The Bangko Sentral ng Pilipinas (BSP) raised the term deposit facility (TDF) volume to P290 billion on Wednesday, up from P210 billion last week.
BSP Deputy Governor Francisco Dakila Jr. played a pivotal role in these adjustments. In a statement, he announced that the allocation for the eight-day tenor was adjusted to PHP140 billion from P100 billion.
The 14-day tenor was also adjusted to P150 billion from P110 billion. Dakila said total tenders amounted to P293.309 billion, well within the BSP's expected volume range.
The BSP said the eight-day tenor was slightly undersubscribed, while the 14-day tenor was oversubscribed.
"The BSP accepted P138.331 billion in the eight-day TDF and awarded in full the offered volume in the 14-day TD", Dakila said.
The resulting weighted average interest rate slightly increased by 0.09 basis points to 6.5345% in the eight-day TDF and remained unchanged at 6.5761% in the 14-day TDF.
"Looking ahead, the BSP's monetary operations will remain guided by its assessment of the latest liquidity conditions and market development," he said. (PNA)
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