Bangko Sentral ng Pilipinas fully awarded P180 billion worth of term deposits during its regular auction Wednesday.
Bangko Sentral said the term deposit auction was oversubscribed, as both the seven-day and 28-day deposit facilities received total tenders of P243.395 billion, exceeding the original offer of P180 billion.
Rates for the 7-day debt facility settled at 3.0269 percent, or 1.62 basis point lower than the previous rate of 3.0431 percent.
The week-long debt papers or the seven-day P30 billion was fully awarded with tenders reaching P43.664 billion.
Bangko Sentral Governor Amando Tetangco Jr. said in a text message the TDF auction result was within expectations. “Today’s TDF auction results were more along what is expected, as the relatively heavy funding requirements reported last week were no longer present this week.. Right now we don’t see any need to make any adjustments to our market operations but we will continue to monitor market liquidity conditions,” Tetangco said.