BSP jacks up term deposit size to P60 B Lawrence Agcaoili (The Philippine Star) – July 10, 2019 – 12:00am MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has doubled the volume of the term deposit auction facility (TDF) to P60 billion this week from last week’s P30 billion as liquidity continues to return into the financial system. The BSP’s auction committee decided to double the volume for the seven, 14, and 28-day tenors to P20 billion for each tenor in today’s auction from last week’s P10 billion. The central bank earlier shortened the lead time for the posting of the issue size of one of the liquidity absorption facility starting this quarter to get a better view of the latest market liquidity conditions. In an advisory, the central bank said it has shortened the lead time for posting the offer volumes for the TDF from seven days to two days before the auction date. “The implementation of a shorter lead time for announcing TDF offer volumes is part of the BSP’s initiatives to enhance the conduct of its monetary operations by ensuring that auction volumes are based on latest information on market liquidity conditions,” the BSP said. Term… Read full this story
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