Feedback Corner

Publications and Research

Media Releases

BSP Rediscount Rates for December 2012


The BSP announced today the rediscount rates applicable on loan availments by banking institutions for December 2012.

For loans under the Peso Rediscount Facility, the BSP Peso Rediscount Rate is set at 3.50 percent p.a. for all maturities effective 29 October 2012, in line with the Monetary Board policy decision to reduce policy rates during its 25 October 2012 meeting.  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 December are as follows:

Dollar      0.21450 percent p.a.
Yen          0.13371 percent p.a.

The EDYRF rediscount rates are based on the respective London Inter-Bank Offered Rate (LIBOR) as of 30 November 2012.

Under the Peso Rediscount Facility, total availments of commercial, thrift and rural banks amounted to P43,740 million for the period 01 January to 30 November 2012.  This was 73.2 percent higher than the P25,251 million total posted in the same period last year. Of the availments for January – November 2012, 78.6 percent went to commercial credits, 2.6 percent to agricultural and industrial credits, and 18.8 percent to other credits consisting of other services (7.3 percent), CAPEX (6.0 percent), housing (3.0 percent) and permanent working capital (2.5 percent).

Under the EDYRF, aggregate dollar availments of ten commercial banks for the period 01 January to 30 November 2012 amounted to US$169.1 million and benefitted 37 exporters. This represents a 11.7 percent decrease in availments compared to the US$191.4 million grants for the same period last year. Meanwhile, there was no Yen-denominated availment for the period 01 January to 30 November 2012.

RSS Subscribe for updates