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Banks not too keen on Bangko Sentral’s term deposit facility

The central bank's bid to put a firmer lid on the inflation rate ---by siphoning off more idle pesos from the local economy ---was met with lukewarm reception by financial institutions which were unimpressed by the regulator's willingness to pay more for deposits. Data from the Bangko Sentral ng Pilipinas (BSP) yesterday showed that banks submitted only P98.3 billion worth of tenders for the weekly term deposit facility auction, despite authorities' offer to accept as much as P120 billion. This marked a sharp reversal from the previous week's results where banks scrambled to place as much as P129.7 billion in idle funds in the BSP's vaults where only P80 billion was accepted. Th...Keep on reading: Banks not too keen on Bangko Sentral’s term deposit facility.....»»

Category: newsSource: inquirer inquirerMay 23rd, 2018

Banks not too keen on Bangko Sentral’s term deposit facility

The central bank's bid to put a firmer lid on the inflation rate ---by siphoning off more idle pesos from the local economy ---was met with lukewarm reception by financial institutions which were unimpressed by the regulator's willingness to pay more for deposits. Data from the Bangko Sentral ng Pilipinas (BSP) yesterday showed that banks submitted only P98.3 billion worth of tenders for the weekly term deposit facility auction, despite authorities' offer to accept as much as P120 billion. This marked a sharp reversal from the previous week's results where banks scrambled to place as much as P129.7 billion in idle funds in the BSP's vaults where only P80 billion was accepted. Th...Keep on reading: Banks not too keen on Bangko Sentral’s term deposit facility.....»»

Category: newsSource:  inquirerRelated NewsMay 23rd, 2018

Yields on BSP deposits up

Tight liquidity in the local financial system pushed yields on the central bank's antiinflation management facility higher for the second time in a row yesterday, aggravated by banks' muted interest in the short term deposits. At the weekly auction for the term deposit facility of the Bangko Sentral ng Pilipinas, interest rates across all three tenors rose even as the longer dated instruments continued to be undersubscribed, echoing the previous week's results. "There is no [cash] volume in the market," said the treasurer of a commercial bank speaking on condition of anonymity. "And there is little appetite among banks for the TDF right now. But it's more a situation of tight liqui...Keep on reading: Yields on BSP deposits up.....»»

Category: newsSource:  inquirerRelated NewsJun 27th, 2018

BSP issuing more term deposits to mop up cash

The Bangko Sentral ng Pilipinas is ready to siphon off around P100 billion worth of liquidity from the financial system by expanding its auction-based monetary operations through the term deposit auction facility next week to check the potential liquidity impact of the reduction in the reserve requirement ratio of banks, according to BSP Governor Nestor Espenilla Jr......»»

Category: financeSource:  philstarRelated NewsMay 30th, 2018

Term deposit volume back to normal

The Bangko Sentral ng Pilipinas has raised the volume of the term deposit auction facility to P80 billion as banks continue to pick up shorter-dated term deposits with the expected rate hike today......»»

Category: financeSource:  philstarRelated NewsMay 9th, 2018

Banks swarm term deposit auction, rates rise

Term deposit rates rose across the board yesterday as banks swarmed the term deposit auction facility of the Bangko Sentral ng Pilipinas amid the rising expectation of a rate hike next week......»»

Category: financeSource:  philstarRelated NewsMay 3rd, 2018

Term deposit rates pick up

YIELDS on term deposits picked up anew yesterday as banks matched the offerings of the Bangko Sentral ng Pilipinas (BSP), mirroring market expectations for rising interest rates. Players betted as much as P97.548 billion under the term deposit facility (TDF) during Wednesday’s auction, slightly higher than the P96.262 billion the previous week and more than […] The post Term deposit rates pick up appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 2nd, 2018

Banks crowd BSP’s term deposit facility

By Melissa Luz T. Lopez Senior Reporter BANKS CROWDED the one-week term deposits offered by the Bangko Sentral ng Pilipinas (BSP) yesterday as market players preferred the short-termed instruments ahead of policy decisions by key central banks. Demand for the term deposit facility (TDF) totalled P128.211 billion during Wednesday’s auction, lower than the P145.828 billion […] The post Banks crowd BSP’s term deposit facility appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 21st, 2018

Yields on BSP’s term deposits climb as banks crowd offering

By Melissa Luz T. Lopez Senior Reporter BANKS again swarmed the central bank’s term deposit facility (TDF) yesterday, although yields continued to climb as players sought higher yields amid some uncertainties in the market. Demand for the three tenors reached P145.828 billion during this week’s auction, shooting beyond the P110 billion the Bangko Sentral ng […] The post Yields on BSP’s term deposits climb as banks crowd offering appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 14th, 2018

Demand for term deposits picks up

Banks again swarmed the central bank’s term deposit facility (TDF) on Wednesday, March 14, although yields continued to climb as players sought higher yields amid some uncertainties in the market. Demand for the three tenors reached P145.828 billion, shooting beyond the P110 billion which the Bangko Sentral ng Pilipinas (BSP) placed on the auction block. […] The post Demand for term deposits picks up appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 14th, 2018

Term deposit auction oversubscribed — Bangko Sentral ng Pilipinas

MANILA, Philippines — Banks swarmed yesterday the term deposit auction facility (TDF) with the release of additional liquidity into the financial system afte.....»»

Category: financeSource:  philstarRelated NewsMar 7th, 2018

BSP moves to neutralize cash from bank reserve cut

The Bangko Sentral ng Pilipinas has raised the amount of cash it siphons off from the market weekly to its highest level since November 2017 in an effort to "sterilize" liquidity freed up by last week's bank reserve requirement cut. On Wednesday, the BSP made a full award of P110 billion for all the three tenors of its term deposit facility, which it uses to encourage financial institutions to deposit idle cash with the central bank in exchange for a fixed yield. The 7-, 14- and 28-day instruments were all oversubscribed though not by as much as previous weeks, possibly indicating that the demand and supply for short-term liquidity management tools between banks and regulators were...Keep on reading: BSP moves to neutralize cash from bank reserve cut.....»»

Category: newsSource:  inquirerRelated NewsFeb 21st, 2018

Yields on term deposits inch up despite strong investor demand

By Melissa Luz T. Lopez, Senior Reporter YIELDS on term deposits offered by the Bangko Sentral ng Pilipinas (BSP) inched higher yesterday despite strong demand, which comes ahead of the release of additional money supply due to lower bank reserves. Banks wanted to place as much as P130.488 billion under the term deposit facility (TDF) […] The post Yields on term deposits inch up despite strong investor demand appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsFeb 21st, 2018

Loaded, banks swarm BSP’s liquidity window

Financial institutions crowded the Bangko Sentral ng Pilipinas' (BSP) 28-day liquidity management window after regulators accepted bids for longer term deposits for the first time in nearly two months. Data from the central bank showed banks submitted P51.4 billion in bids for the P20 billion offered, meaning that the reopening of the facility was over twice oversubscribed by market players who had very few options for parking their longer term funds in the last few weeks. BSP Gov. Nestor Espenilla Jr. last week told reporters the central bank decided to reopen its 28-day term deposit facility due to clamor from banks who were seeking instruments to help them manage their liquidity...Keep on reading: Loaded, banks swarm BSP’s liquidity window.....»»

Category: newsSource:  inquirerRelated NewsFeb 7th, 2018

Deposits attract demand

By Melissa Luz T. Lopez, Senior Reporter BANKS swarmed yesterday’s auction of term deposits following the return of the month-long tenor, driving yields lower amid overwhelming demand. The Bangko Sentral ng Pilipinas (BSP) received bids cumulatively worth P140.003 billion during Wednesday’s offering under the term deposit facility (TDF), more than double the P60 billion it […] The post Deposits attract demand appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsFeb 7th, 2018

BSP’s TDF offer oversubscribed

BANKS and trust firms swarmed the week-long term deposit facility (TDF) offered by the Bangko Sentral ng Pilipinas (BSP) on Wednesday as yields declined. Banks wanted to place as much as P119.582 billion under the TDF yesterday, nearly three times larger than the P40 billion the BSP had placed on the auction bloc. The bids […] The post BSP’s TDF offer oversubscribed appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 24th, 2018

Market swarms 7-day term deposits

MANILA, Philippines — Banks swarmed yesterday the term deposit auction facility (TDF) as the Bangko Sentral ng Pilipinas (BSP) continued to offer only short-.....»»

Category: financeSource:  philstarRelated NewsDec 27th, 2017

BSP scraps 28-day TDF offering for Dec. 20 auction

The Bangko Sentral ng Pilipinas (BSP) will not be offering the 28-day Term Deposit Facility (TDF) during the auction on Dec. 20 as it continues to be less attractive to banks......»»

Category: newsSource:  interaksyonRelated NewsDec 14th, 2017

Term deposits undersubcribed

MANILA, Philippines — The term deposit auction facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) remained undersubscribed yesterday as banks continued.....»»

Category: financeSource:  philstarRelated NewsSep 20th, 2017

Term deposit rates ease from record highs

Term deposits fetched lower yields as banks swarmed yesterday’s auction with rates starting to normalize after the Bangko Sentral ng Pilipinas (BSP) raised benchmark rates by 150 basis points so far this year......»»

Category: financeSource:  philstarRelated NewsOct 17th, 2018

Term deposit volume reduced

The Bangko Sentral ng PIlipinas (BSP) has slashed the volume of the term deposit auction facility (TDF) for the second straight week amid the tighter monetary condition......»»

Category: financeSource:  philstarRelated NewsSep 21st, 2018