Bangko Sentral ng Pilipinas Deputy Governor Francisco G. Dakila Jr. said the “results of the BSP bill auction continue to reflect the normalization of liquidity conditions in the financial system amid ample supply.”
The 28-day BSP securities is still offered at P100 billion. Its tenders were however lower this week compared to the previous Friday’s P211.39 billion. “The BSP maintained the offering at P100 billion for the issuance of 28-day bills which was awarded in full amid sustained strong demand from market participants,” said Dakila.
The BSP bills’ yield is lower this week or by 3.682 basis points to 1.7298 percent. “The yields accepted, likewise, shifted lower and narrowed to a range of 1.7000-1.7490 percent,” noted Dakila.The bid coverage ratio is 1.9470 which was lower compared to Jan. 7’s 2.1139. The BSP securities facility is one of the central bank’s primary liquidity mopping-up tool to control inflation. It was first introduced in September 2020.
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