Banks once more shied away from the 28-day term deposits supplied on Wednesday, pushing the Bangko Sentral ng Pilipinas (BSP) to cut to P140 billion the amount to be auctioned off subsequent week. Bids for the P150-billion 28-day term deposit facility (TDF) reached solely P114.113 billion on Wednesday, making it the sixth straight week that the tenor was undersubscribed. The BSP awarded P113.113 billion. The accepted yield for the one-month facility was inside the Three.Three-Three.5 % vary, up from Three.25-Three.5 % final week. For the seven-day TDF, P66.502 billion had been tendered for the P30-billion providing. The BSP awarded all of the one-week term deposits on the Three-Three.four % yield, a narrower …

Keep on studying: Frigid market forces BSP to cut term deposit offer

Source: inquirer