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BSP Rediscount Rates for December 2015 and Availments as of November 2015

12.10.2015

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

The Peso Rediscount Facility rates for Rediscounting Windows (RWs) I and II for December 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 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.  These rates have been in effect since 15 September 2014 and will remain until the policy rates are revised.

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

 

Rate (%) 

Loan Maturity 

Dollar

Yen

1-90 days

2.41620

2.07357

91-180 days

2.47870

2.13607

181-360 days

2.54120

2.19857


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

Availments under the Peso Rediscount Facility and the EDYRF have declined due to the increase in rediscounting rates and ample liquidity in the financial system. 

Under the Peso Rediscount Facility, the total availments of thrift and rural banks amounted to P424 million for the period 01 January to 30 November 2015, which is 65.4 percent lower than the P1,227 million total for the same period last year.  Out of the aggregate availments for the period, 86.8 percent went to commercial credits, 5.2 percent to production credits and 8.0 percent to other credits consisting of housing (5.1 percent), permanent working capital (1.6 percent) and CAPEX (1.3 percent).

Under the EDYRF, total dollar availments of a universal bank for the period 01 January to 30 November 2015 amounted to US$0.7 million and benefitted one exporter. This represents a 92.4 percent decrease in availments compared to the US$9.2 million grants for the same period last year.  There was no Yen-denominated availment under EDYRF for the subject period in 2015, nor for the same period last year.

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