MANILA: The Bangko Sentral ng Pilipinas (BSP) on Wednesday raised the term deposit facility (TDF) volume to PHP270 billion.

In a statement, BSP Deputy Governor Francisco Dakila Jr. said the allocation mix for the seven-day tenor was adjusted to PHP150 billion from PHP120 billion.

The 14-day tenor was also adjusted to PHP120 billion from PHP90 billion.

Total tenders amounted to PHP303.661 billion, which Dakila said, was “within the central bank’s expected volume range.”

The BSP fully awarded its offerings for the seven-day and 14-day tenors.

The resulting weighted average interest rate for the seven-day TDF fell slightly by 0.3291 basis points to 6.5617 percent, while that for the 14-day TDF was relatively unchanged at 6.5951 percent.

“Looking ahead, the BSP’s monetary operations will continue to be guided by its assessment of prevailing liquidity conditions and market developments,” Dakila said.

Source: Philippines News Agency