Feedback Corner

Publications and Research

Media Releases

BSP Rediscount Rates for February 2010


The BSP announced today the rediscount rates applicable on loan availments by banking institutions for the month of February 2010.

For loans under the Peso Rediscount Facility, the BSP Peso Rediscount Rate is set at 4.0 percent p.a. for all maturities effective 01 February 2010. The Peso Rediscount Rate is based on the applicable BSP overnight reverse repurchase rate per Circular No. 679 dated 01 February 2010. 

Meanwhile, for loans under the Exporters’ Dollar and Yen Rediscount Facility (EDYRF), the rates for the month of February are as follows:

Dollar                   0.22906 percent p.a.
Yen                       0.15563 percent  p.a.

The EDYRF rediscount rates are based on the respective London Inter-Bank Offered Rate (LIBOR) for the last working day of January 2010.

The BSP also announced the level of availments of rediscounting loans for the period 01 to 31 January 2010.  Under the Peso Rediscount Facility, total availments of commercial, thrift and rural banks amounted to P16.762 billion, of which 48.3 percent went to commercial credits, 2.9 percent to agricultural and industrial credits, and 48.8 percent to other credits consisting of other services (40.1 percent), CAPEX (4.2 percent), permanent working capital (2.4 percent), housing (2.0 percent) and microfinance (less than 0.1 percent). The P16.762 billion availments under the Peso Rediscount Facility exclude the P2.6 million rediscounting loans granted to micro, small and medium enterprises (MSMEs) affected by tropical storms “Ondoy” and “Pepeng”. It will be recalled that the BSP established an additional P 5.0 billion budget for rediscounting to cover for typhoon-affected MSMEs.

Since the start of the Export Dollar Facility in 1995, aggregate availments of 29 commercial banks amounted to US$2.264 billion, benefiting 574 exporters. For the month of January 2010, dollar availments totaled US$13.5 million. On the other hand, four commercial banks had total availments of Y1.995 billion under the Yen facility since its opening in June 1999.  There was no Yen availment for the month of January 2010.

RSS Subscribe for updates