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BSP Rediscount Rates for June 2010


The BSP announced today the rediscount rates applicable on loan availments by banking institutions for the month of June 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 June are as follows:

Dollar   0.35125 percent p.a.
Yen       0.16188 percent p.a.

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

The BSP also announced the level of availments of rediscounting loans for the period 01 January to 31 May 2010.  Under the Peso Rediscount Facility, total availments of commercial, thrift and rural banks amounted to P41.84 billion, of which 55.0 percent went to commercial credits, 3.8 percent to agricultural and industrial credits, and 41.2  percent to other credits consisting of other services (28.0 percent), CAPEX (9.0 percent), permanent working capital (2.7 percent) and housing (1.5 percent). The P41.84 billion availments under the Peso Rediscount Facility exclude the P9.0 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.

Under the Export Dollar Facility, aggregate availments for the period 01 January to 31 May 2010 of seven commercial banks amounted to US$45.4 million benefiting 23 exporters. On the other hand, there was no availment under the Export Yen Facility for the period January to May 2010.

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