• TDF auction oversubscribed again

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    The central bank awarded on Wednesday P30-billion worth of its term deposit facility (TDF)—P10 billion in the seven-day tenor and P20 billion in the 28-day tenor—rejecting most of the over P150 billion tenders for the second auction of the liquidity management tool under the Interest Rate Corridor.

    Of the total tenders, P63.937 billion was for the seven-day term deposit, and P92.847 billion for the 28-day term deposit—far exceeding the P10 billion and P20 billion set respectively for the auction.

    The offer was oversubscribed with the auction priced at an average of 2.5 percent for both tenors.

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