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BSP Rediscount Rates for June

06.04.2001

The BSP announced today the Peso Rediscount and Exporters Dollar and Yen Rediscount Facility (EDYRF) rates applicable on loan availments by banking institutions for the month of June, 2001: 8.037% p.a. for Peso Rediscount, 3.935% p.a. for US Dollar (USD) and 0.035% p.a. for Japanese Yen (JPY).

The Peso Rediscount rate of 8.037% is one percentage point below the average 91-day Treasury Bill rate of 9.037% p.a. during the auction held on May 28, 2001, while the EDYRF rates are based on the applicable London Interbank Bid (LIBID) rate.

The BSP also announced that under the peso rediscounting, total availments of commercial, thrift and rural banks from January 2 to May 31,, 2001 amounted to P10.682 billion, of which P8.584 billion 80.4%) went to export financing, P1.628 billion (15.2%) to agricultural credits and P0.470 billion (4.4%) to commercial and industrial credits.

As of end of May, 2001, availments of twenty-eight (28) commercial banks under the Export Dollar Facility, which commenced in 1995, amounted to $1.415 billion, of which $0.052 billion pertained for the period from January 2 to May 31, 2001, benefiting 401 exporter-borrowers. Under the Yen Facility, which was opened in June, 1999, four (4) commercial banks had total availments of Y0.296 billion and participated by 9 exporter-borrowers.

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