Banks looking for new TDF tenor

Banks want the Bangko Sentral ng Pilipinas (BSP) to offer a new tenor for the liquidity-mopping term deposit facility (TDF), a senior official said.

“Based on our initial discussion with the banks — these are initial, preliminary discussions — they prefer a third tenor, probably a cross between seven and 28 days,” central bank Deputy Governor Diwa Guinigundo told reporters.