19 SELECTED DOMESTIC INTEREST RATES                                                                 19 SELECTED DOMESTIC INTEREST RATES (CONT'D)                                                                                  
      in percent per annum                                                                       in percent per annum                                                                                            
      for periods indicated                                                                       for periods indicated                                                                                            
                                                                                                                                                                           
                                                                                                                                                                           
  2019 2020 2021 2020       2021 2022  
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec       Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct  
                                                                                                                                                                           
                                                                                                       
  Treasury Bill Rates       Treasury Bill Rates  
  35 - Day 1.869 .. 2.714 2.033 1.950 1.160       35 - Day  
  91 - Day 4.674 2.018 1.113 3.299 3.094 3.019 3.204 2.234 1.978 1.519 1.146 1.152 1.094 1.022 1.014       91 - Day 0.980 0.870 1.208 1.335 1.270 1.108 1.061 1.067 1.072 1.103 1.152 1.140 0.861 0.806 1.501 1.248 1.485 1.646 2.095 1.967 2.318 4.085  
  182 - Day 5.065 2.261 1.431 3.554 3.442 3.345 3.221 2.343 2.076 1.674 1.409 1.549 1.585 1.450 1.395       182 - Day 1.350 1.107 1.489 1.692 1.554 1.373 1.386 1.406 1.395 1.390 1.418 1.436 1.117 1.082 1.551 1.610 1.767 2.051 2.918 3.240 3.724 4.518  
  364 - Day 5.232 2.422 1.694 3.860 3.874 3.618 3.371 2.698 2.298 1.791 1.748 1.826 1.794 1.736 1.691       364 - Day 1.586 1.470 1.889 1.895 1.812 1.590 1.607 1.620 1.597 1.595 1.623 1.646 1.460 1.484 1.767 1.880 1.933 2.439 3.090 3.636 .. 4.875  
  All Maturities 5.022 2.223 1.450 3.583 3.510 3.406 3.185 2.373 2.107 1.689 1.416 1.544 1.555 1.463 1.448       All Maturities 1.364 1.198 1.608 1.718 1.600 1.363 1.351 1.364 1.362 1.363 1.407 1.482 1.146 1.124 1.583 1.570 1.623 2.035 2.674 2.932 3.380 4.433  
         
  Time Deposit Rates1       Time Deposit Rates1  
  Short-term (1 Year and below) 4.059 1.155 p 0.459 p 2.016 p 1.974 p     1.992 p      1.752 p      1.273 p      1.130 p     0.728 p     0.619 p    0.540 p    0.464 p    0.445 p    0.545 p       Short-term (1 Year and below)    0.463 p    0.424 p    0.454 p    0.468 p     0.447 p    0.448 p     0.487 p     0.474 p    0.439 p    0.458 p    0.448 p    0.494 p     0.412 p    0.400 p    0.499 p    0.455 p     0.576 p     0.765 p       1.141 p      1.710 p  -   -   
  Long-term (above 1 Year) 4.598 2.105 p 1.668 p 3.165 p 3.197 p     2.881 p     2.498 p     2.436 p     2.463 p     2.322 p     1.649 p     1.640 p     2.352 p     2.269 p     0.687 p       Long-term (above 1 Year)      1.581 p     1.695 p      1.597 p       1.181 p     1.485 p     1.399 p     1.856 p    2.203 p     1.839 p      1.676 p     1.620 p      1.867 p     1.526 p      1.785 p    2.240 p     3.413 p     3.013 p    3.028 p     3.326 p      3.718 p  -   -   
         
  Savings Deposit Rates 1,2 1.231 0.201 p 0.121 p    0.200 p    0.203 p    0.232 p     0.221 p    0.226 p    0.205 p     0.212 p     0.201 p    0.223 p      0.173 p     0.168 p     0.153 p       Savings Deposit Rates 1,2     0.108 p      0.116 p      0.112 p     0.122 p      0.127 p    0.096 p      0.114 p      0.110 p     0.145 p     0.145 p     0.142 p     0.143 p     0.126 p      0.116 p      0.121 p      0.115 p      0.118 p     0.128 p     0.143 p     0.169 p  -   -   
         
  Bank Average Lending Rates 1,3 7.087 7.041 p 6.066 p     7.082 p      7.160 p      7.014 p      6.977 p     7.405 p      7.261 p     7.346 p     7.246 p       7.116 p     6.457 p    6.360 p     7.089 p       Bank Average Lending Rates 1,3     6.132 p     5.612 p    6.604 p     6.007 p    6.602 p     6.364 p     6.010 p    6.008 p     5.965 p     5.878 p     5.753 p    5.909 p     5.962 p     5.462 p     5.813 p     5.570 p     5.752 p      5.811 p     5.925 p    6.099 p  -   -   
         
  Lending Rates 1,4       Lending Rates 1,4  
  High 8.018 10.485 p 9.964 p 10.943 p 10.894 p     11.148 p     11.197 p   10.947 p     9.769 p   10.630 p   10.667 p   10.228 p     9.894 p    10.216 p     9.282 p       High     9.455 p     9.516 p     9.431 p     9.827 p   10.061 p    9.800 p    9.800 p    9.860 p    10.101 p   10.302 p   10.587 p   10.828 p   10.444 p   10.756 p   10.539 p   10.332 p   10.038 p   10.065 p   10.678 p   10.520 p  -   -   
  Low 5.497 5.964 p 5.579 p 5.754 p 6.113 p    6.240 p     6.557 p     6.126 p     5.929 p     6.352 p     5.958 p      5.817 p     5.622 p     5.837 p     5.264 p       Low     5.543 p     5.491 p     5.479 p     5.592 p     5.619 p     5.616 p     5.356 p    5.450 p     5.876 p     5.657 p    5.630 p     5.641 p     5.289 p      5.471 p     5.493 p     5.128 p     5.134 p     5.362 p     5.331 p     5.496 p  -   -   
         
  Overnight Lending Facility (OLF) Rates 5 4.996 4.063 2.500 4.500 4.300 .. .. .. .. .. 2.750 .. 2.750 2.750 2.500       Overnight Lending Facility (OLF) Rates 5 2.500 .. 2.500 2.500 .. .. 2.500 .. 2.500 2.500 2.500 2.500 .. 2.500 2.500 2.500 2.500 .. .. 3.750 4.500 4.750  
         
  Overnight Reverse Repurchase Rates (RRP) 5 4.408 2.733 2.000 4.000 3.804 3.554 3.092 2.750 2.652 2.250 2.250 2.250 2.250 2.158 2.000       Overnight Reverse Repurchase Rates (RRP) 5 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.000 2.097 2.308 2.936 3.460 3.883 4.250  
         
  Overnight Deposit Facility (ODF) Rates 5 3.798 2.054 1.500 3.500 3.329 2.979 2.491 2.250 2.169 1.750 1.750 1.750 1.750 1.655 1.500       Overnight Deposit Facility (ODF) Rates 5 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.595 1.799 2.353 2.963 3.373 3.750  
         
  BSP Securities 6       BSP Securities 6  
  28 - Day 1.844 1.770 1.840 1.935 1.843 1.691       28 - Day 1.642 1.658 1.908 1.854 1.776 1.802 1.787 1.741 1.720 1.773 1.776 1.865 1.721 1.751 2.003 1.934 2.252 2.698 3.231 r 3.821 4.283 4.966  
         
  Term Deposit Facility (TDF) Rates 5 4.541 2.241 1.753 4.203 4.001 3.828 3.074 2.261 2.251 1.769 1.780 1.840 1.866 1.971 1.722       Term Deposit Facility (TDF) Rates 5 1.662 1.637 1.799 1.823 1.750 1.797       1.777 1.736 1.736 1.762 1.763 1.870 1.748 1.703 1.952 1.947 2.042 2.424 2.902 3.618 3.932 4.585  
         
  7 - Day 4.528 2.123 1.715 r 4.079 3.911 3.769 2.523 2.256 2.251 1.755 1.771 1.831 1.878 1.917 1.717       7 - Day 1.642 1.624 1.746 1.763 1.725 1.737 1.710 1.727 1.715 1.737 1.739 1.752 1.723 1.704 1.897 1.932 2.028 2.452 2.997 3.657 4.016 4.633  
         
  14 - Day 4.572 2.042 1.762 4.123 3.913 3.791 .. .. 2.251 2.251 1.812 1.848 1.912 1.947 1.715       14 - Day 1.660 1.651 1.854 1.800 1.746 1.803 1.774 1.732 1.744 1.777 1.770 1.827 1.735 1.713 2.011 1.939 2.099 2.507 3.031 3.700 4.086 r 4.686  
         
  28 - Day 4.521 2.705 .. 4.159 3.944 3.760 .. .. .. 1.758 1.802 1.849 1.845 ... ...       28 - Day ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
         
  Interbank Call Loan Rates 4.665 3.537 1.626 3.822 3.708 3.539 3.308 2.430 2.349 1.813 1.914 1.871 1.875 1.883 1.997       Interbank Call Loan Rates 1.688 1.312 1.571 1.560 1.906 1.750 1.761 2.000 1.688 1.682 1.830 1.955 .. 1.997 1.890 1.875 1.875 2.371 3.052 3.273 3.971 4.234  
                                                                                                                                                                       
                                                                     
  1 Starting 1 January 2020, universal and commercial banks (U/KBs) are required to submit the amended reporting templates on banks' lending and deposit rates or Interest Rates on Loans and Deposits (IRLD) in accordance with Circular Nos. 1029 and 1037, series of 2019. Data are preliminary estimates as of 25 October 2022. Further, bank submissions with interest rates of 100% and above were excluded per account code from the computation per the Department of Supervisory Analytics (DSA) and Supervisory Policy and Research Department's (SPRD) definition of outliers. As such, IRLD data may not be consistent with the historical series on interest rates of U/KBs prior to 2020.       1 Starting 1 January 2020, universal and commercial banks (U/KBs) are required to submit the amended reporting templates on banks' lending and deposit rates or Interest Rates on Loans and Deposits (IRLD) in accordance with Circular Nos. 1029 and 1037, series of 2019. Data are preliminary estimates as of 25 October 2022. Further, bank submissions with interest rates of 100% and above were excluded per account code from the computation per the Department of Supervisory Analytics (DSA) and Supervisory Policy and Research Department's (SPRD) definition of outliers. As such, IRLD data may not be consistent with the historical series on interest rates of U/KBs prior to 2020.  
         
         
  2 Refers to the interest rate based on reporting U/KBs' interest expense and peso-denominated deposits       2 Refers to the interest rate based on reporting U/KBs' interest expense and peso-denominated deposits  
  3 Refers to the interest rate based on reporting U/KBs' interest income and outstanding peso-denominated loans       3 Refers to the interest rate based on reporting U/KBs' interest income and outstanding peso-denominated loans  
  4 Refers to the average of U/KBs' reported high/low lending rates       4 Refers to the average of U/KBs' reported high/low lending rates  
  5 Beginning 3 June 2016, the BSP shifted its monetary operations to an interest rate corridor (IRC) system. The repurchase (RP) and Special Deposit Account (SDA) windows have been replaced by the standing overnight lending  and overnight deposit facilities, respectively. The reverse repurchase (RRP) facility has been modified to a purely overnight RRP. In addition, the term deposit facility (TDF) serves as the main tool for absorbing liquidity. The Overnight Lending Facility (OLF) and Overnight Deposit Facility (ODF) serve as the upper and lower bound, respectively, of the IRC system. The weighted average interest rates (WAIR) of BSP rates are based on actual transactions during the period.        5 Beginning 3 June 2016, the BSP shifted its monetary operations to an interest rate corridor (IRC) system. The repurchase (RP) and Special Deposit Account (SDA) windows have been replaced by the standing overnight lending  and overnight deposit facilities, respectively. The reverse repurchase (RRP) facility has been modified to a purely overnight RRP. In addition, the term deposit facility (TDF) serves as the main tool for absorbing liquidity. The Overnight Lending Facility (OLF) and Overnight Deposit Facility (ODF) serve as the upper and lower bound, respectively, of the IRC system. The weighted average interest rates (WAIR) of BSP rates are based on actual transactions during the period.   
         
         
  6 Beginning 18 September 2020, the BSP has offered BSP Securities as part of its initiative to shift to more market-based monetary operations. The inclusion of BSP Securities issuance in the standard monetary operations of the BSP provides an additional instrument for managing liquidity in the financial system and support the implementation of monetary policy under the Interest Rate Corridor (IRC) framework.        6 Beginning 18 September 2020, the BSP has offered BSP Securities as part of its initiative to shift to more market-based monetary operations. The inclusion of BSP Securities issuance in the standard monetary operations of the BSP provides an additional instrument for managing liquidity in the financial system and support the implementation of monetary policy under the Interest Rate Corridor (IRC) framework.   
         
         p      Preliminary              p      Preliminary  
         r      Revised              r      Revised  
        ..      No Transaction/No Quotation/No Issue              -      Not Available  
        ...     Blank             ..      No Transaction/No Quotation/No Issue  
  Sources: Bangko Sentral ng Pilipinas, Bureau of the Treasury             ...     Blank  
                                                                            Sources: Bangko Sentral ng Pilipinas, Bureau of the Treasury