MANILA — Weighted average accepted yield of the 28-day term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) rose Wednesday, unlike that of the seven-day facility.
Data released by the central bank show that weighted average accepted yield of the longer-tenor facility went up to 3.4958 percent from 3.4936 percent in the auction last August 9.
On the other hand, weighted average accepted yield of the shorter-dated facility declined to 3.3241 percent from 3.3327 percent last week.
This development transpired even as bids for both tenors declined this week compared to the previous week’s levels.
Bids for the seven-day TDF reached PHP50.051 billion this week, higher than the PHP40 billion offering but lower than the PHP60.818 billion last week. The auction committee made a full award for this tenor.
Its bid coverage ratio dropped to 1.2513 from last week’s 1.5205.
Tenders for the longer-dated facility reached PHP103.328 billion, lower than last week’s PHP119.356 billion and the PHP140 billion offering.
Bid coverage ratio declined to 0.7381 from last week’s 0.8525.
For the auction on Aug. 23, the seven-day facility will still be offered for PHP40 billion and the 28-day facility for PHP140 billion. (PNA)