The central bank said its P180 billion offer of term deposit facility (TDF) was oversubscribed at Wednesday’s auction, indicating that the country’s liquidity system remains sound and that investors continue to favor short-dated papers.

The Bangko Sentral ng Pilipinas (BSP) fully awarded the P180-billion TDF offer. The total bids for the seven- and 28-day facilities exceeded P208 billion.

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