THE P110-billion worth of term deposits offered by Bangko Sentral ng Pilipinas in its weekly auction remained oversubscribed Wednesday due to investors’ strong demand for the seven-day, 14-day and 28-day instruments.
Data showed total tenders reached P130.47 billion, exceeding the weekly volume of P110 billion.
The week-long deposits worth P50 billion attracted total tenders of P53.36 billion and fetched a weighted average accepted yield of 2.81 percent.
The P40-billion 14-day instruments lured total bids of P46.76 billion, while the month-long deposits amounting to P20 billion attracted total tenders of P30.35 billion.
The Bangko Sentral raised the total volume of term deposits in the auction on Feb. 21 to P110 billion from P80 billion on strong demand.