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BSP Rediscount Rates for July 2017 and Availments as of June 2017

07.10.2017

The BSP announced today the applicable Peso Rediscount Facility and Exporters Dollar and Yen Rediscount Facility (EDYRF) rates for the month of July 2017 and loan availments as of 30 June 2017.

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

 

Rate (%) 

Loan Maturity

RW I

RW II1

1-90 days

3.5625

3.0000

91-180 days

3.6250

3.0625

181-360 days

n/a

3.1250

The Peso rediscount rates for RWs I and II are based on the latest available BSP overnight lending rate and overnight reverse repurchase rate, respectively, plus term premia for longer maturities per Circular No. 916 dated 08 July 2016.

Effective 21 July 2017, all banks shall access a unified rediscounting window which shall adopt the terms under RW I. Accordingly, the Peso rediscount rates under RW I will be applicable for all types of banks per Circular No. 964 dated 27 June 2017.

 

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

Loan Maturity

Rate (%) 

 

Dollar

Yen

1-90 days

 3.29917

1.99986

91-180 days

3.36167

2.06236

181-360 days

3.42417

 2.12486


 
The EDYRF rates are based on the respective 90-day London Inter-Bank Offered Rate as of 30 June 2017 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 30 June 2017 amounted to P15 million, of which 1.5 percent went to production credits while the bulk or 98.5 percent went to other credits consisting of housing (97.5 percent) and permanent working capital (1.0 percent).

There was no availment under the EDYRF for the past six months ending 30 June 2017.

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1 Until 20 July 2017

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