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BSP Rediscount Rates for June 2016 and Availments as of May 2016

06.10.2016

The BSP announced today the applicable Peso Rediscount Facility and Exporters Dollar and Yen Rediscount Facility (EDYRF) rates for the month of June 2016 and loan availments as of end-May 2016.

In line with the implementation of the BSP’s Interest Rate Corridor (IRC) system which adjusted the BSP interest rates effective 03 June 2016, the Peso Rediscount Facility rates are as follows for Rediscounting Windows (RWs) I and II, effective on even date:

 

Loan Maturity

Rate (%)

RW I 1

RW II

30 days

6.1250

3.0000

90 days

6.1875

3.0000

180 days

6.2500

3.0625

360 days

n/a

3.1250

The Peso rediscount rates for RW I and RW II are based on the applicable BSP one-month repurchase (RP) 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 June for loans under the EDYRF:

Loan
Maturity

Rate (%)

Dollar

Yen

1-90 days

2.68580

1.97757

91-180 days

2.74830

2.04007

181-360 days

2.81080

2.10257

The EDYRF rates are based on the respective 90-day London Inter-Bank Offered Rate (LIBOR) as of 31 May 2016 plus 200 basis points plus term premia for longer maturities pursuant to Circular No. 807 dated 15 August 2013.

Under the Peso Rediscount Facility, total availments covering the period 01 January to 31 May 2016 amounted to P10,642.3 million, the bulk of which or 75.8 percent went to other credits consisting of capital expenditures, permanent working capital and other service activities. The remaining portions went to commercial credits (24.2 percent) and production credits (less than 0.1 percent).

Under the EDYRF, total dollar availments for the period 01 January to 31 May 2016 amounted to US$ 10.4 million.  There was no yen-denominated availment under the EDYRF for the same period.

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1 Based on the latest available BSP one-month RP rate

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