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BSP Rediscount Rates for February 2015 and Availments as of January 2015

02.10.2015

The BSP announced today the applicable Peso Rediscount Facility and Exporters Dollar and Yen Rediscount Facility (EDYRF) rates for the month of February 2015 and loan availments as of end January 2015.

The Peso Rediscount Facility rates for Rediscounting Windows (RWs) I and II for February 2015 are as follows: 

 

Rate (%) 

Loan Maturity

RW I

RW II

30 days

6.1250

4.0000

90 days

6.1875

4.0000

180 days

6.2500

4.0625

360 days

n/a

4.1250

The Peso rediscount rates for RW I and RW II are effective starting 15 September 2014 up to the next policy rates revision and are based on the applicable BSP one-month repurchase rate and overnight reverse repurchase rate, respectively, plus term premia for longer maturities per Circular No. 806 dated 15 August 2013.

The following are the rates for the month of February for loans under the EDYRF:

Loan Maturity

Rate (%) 

Dollar

Yen

1-90 days

 2.25310

2.10429

91-180 days

2.31560

2.16679

181-360 days

2.37810

2.22929


The EDYRF rates are based on the respective 90-day London Inter-Bank Offered Rate (LIBOR) as of 30 January 2015 plus 200 basis points plus term premia for longer maturities pursuant to Circular No. 807 dated 15 August 2013.

Under the Peso Rediscount Facility, the total availments of thrift banks amounted to P61 million for the period 01 to 31 January 2015, which is 69.4 percent higher than the P36 million total for the same period last year. Out of the aggregate availments for the period, 84.3 percent went to commercial credits and 15.7 percent to other credits consisting of housing (13.2 percent) and permanent working capital (2.5 percent).

There was no dollar availment for the period 01 to 31 January 2015 under the EDYRF. This represents a 100.0 percent decrease in availments compared to the US$0.2 million grants for the same period last year.  There was likewise no Yen-denominated availment under the EDYRF in 2014 and 2015.

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