Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila Jr. said the term deposit facility (TDF) which had the same offer volume of P600 billion Wednesday, (March 3) continued to be oversubscribed at P645.75 billion.
Both the 7-day and 14-day tenors were offered at P200 billion and P400 billion, respectively, amid the Retail Treasury Bond offering of the Bureau of the Treasury, noted Dakila.
“The two tenors were oversubscribed with tenders reaching 1.14x and 1.04x the respective offered volumes in the 7-day and 14-day TDF. Total bids received amounted to P645.75 billion, consistent with the BSP’s expectations,” he said.
Dakila also noted that yields were mixed, with the shorter TDF falling by 0.097 basis point to 1.6332 percent while the 14-day TDF was up by 7.493 bps to 1.7804 percent.
“The range of accepted yields remained low but wider for the 7-day TDF at 1.600-1.675 percent, and slightly higher and narrower for the 14-day TDF at 1.648-2.000 percent,” he added.