MANILA – The rates of the Philippines’ Treasury bills (T-bills) declined across the board Monday in line with the path of domestic interest rates.
Average rate of the 91-day paper slipped to 0.977 percent, the 182-day to 1.360 percent, and the 364-day to 1.605 percent.
These were at 0.987 percent, 1.369 percent, and 1.614 percent for the three- and six- month papers and one-year T-bill during the auction on Jan. 4, 2020.
“Rates trending down with abundant liquidity,” National Treasurer Rosalia de Leon told journalists in a Viber message Monday.
All the tenors were oversubscribed by at least thrice the offer.
The Bureau of the Treasury (BTr) offered the three-month paper for PHP5 billion and the auction committee made a full award. Total bids reached PHP21.45 billion.
Bids for the 182-day paper amounted to PHP22.22 billion, more than four times the initial PHP5-billion offer.
The auction committee awarded PHP7 billion after accepting double for the non-competitive bids amounting to PHP4 billion.
It also made a full award for the one-year paper at PHP10 billion. Total bids reached PHP43.045 billion. (PNA)