MANILA – The Bangko Sentral ng Pilipinas has reduced the term deposit facility (TDF) offering for the auction today to P70 billion from P90 billion last week.
In an advisory, the central bank said the seven-day facility will be offered for P30 billion, similar to the Sept. 23 auction offer.
However, both the 14-day and 28-day facilities will be offered for P20 billion from P30 billion last week.
In the previous week’s auction, all tenors were undersubscribed and the auction committee fully accepted the tenders.
The shortest tenor attracted P26.616 billion worth of bids; the 14-day, P23.07 billion; and the 28-day, P24.779 billion.
The BSP adjusts the TDF offer based on its liquidity projection for the auction week. (PNA)
