BSP hikes weekly auction to P110b
BANGKO Sentral ng Pilipinas raised to P110 billion from P80 billion the total volume of term deposits in the next auction on Feb. 21 due to strong demand for both short- and long-term instruments.
Data showed the seven-day deposits worth P40 billion would be increased to P50 billion, while 14-day deposits would be raised to P40 billion from P20 billion. The 28-day instruments amounting to P20 billion will remain.
The P80-billion term deposits offered by Bangko Sentral ng Pilipinas on Wednesday remained highly oversubscribed. Data showed the seven-day deposits worth P40 billion lured total bids of P65.36 billion, while the 14-day P20-billion instruments attracted P45.46 billion.
The P20 billion worth of month-long deposits, meanwhile, attracted total bids of P39.9 billion.