|
19 |
PHILIPPINES: SELECTED DOMESTIC INTEREST
RATES |
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weighted averages in percent per annum |
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for periods indicated |
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2018 |
2019 |
2020 |
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2019 |
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2020 |
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2021 |
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Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
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Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
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Jan |
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Treasury Bill Rates |
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35 - Day |
… |
… |
1.869 |
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… |
… |
… |
… |
… |
… |
… |
… |
… |
… |
… |
… |
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… |
… |
.. |
2.714 |
2.033 |
1.950 |
… |
1.160 |
… |
… |
… |
… |
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… |
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91 - Day |
3.539 |
4.674 |
2.018 |
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5.444 |
5.575 |
5.754 |
5.606 |
5.309 |
4.596 |
3.826 |
3.326 |
3.093 |
2.995 |
3.168 |
3.192 |
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3.299 |
3.094 |
3.019 |
3.204 |
2.234 |
1.978 |
1.519 |
1.146 |
1.152 |
1.094 |
1.022 |
1.014 |
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0.980 |
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182 - Day |
4.489 |
5.065 |
2.261 |
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6.096 |
5.926 |
5.953 |
5.978 |
5.721 |
4.976 |
4.169 |
3.574 |
3.425 |
3.173 |
3.224 |
3.348 |
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3.554 |
3.442 |
3.345 |
3.221 |
2.343 |
2.076 |
1.674 |
1.409 |
1.549 |
1.585 |
1.450 |
1.395 |
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1.350 |
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364 - Day |
5.144 |
5.232 |
2.422 |
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6.207 |
5.978 |
6.036 |
6.023 |
5.866 |
5.151 |
4.628 |
3.767 |
3.662 |
3.577 |
3.507 |
3.475 |
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3.860 |
3.874 |
3.618 |
3.371 |
2.698 |
2.298 |
1.791 |
1.748 |
1.826 |
1.794 |
1.450 |
1.691 |
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1.586 |
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All Maturities |
4.389 |
5.022 |
2.223 |
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6.019 |
5.842 |
5.938 |
5.851 |
5.669 |
4.944 |
4.261 |
3.585 |
3.414 |
3.280 |
3.330 |
3.324 |
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3.583 |
3.510 |
3.406 |
3.185 |
2.373 |
2.107 |
1.689 |
1.416 |
1.544 |
1.555 |
1.450 |
1.448 |
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1.364 |
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Time Deposit Rates1 |
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Short-term (1 Year and below) |
3.157 |
4.059 |
- |
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4.728 |
4.864 |
4.613 |
4.455 |
4.723 |
4.403 |
4.158 |
3.145 |
3.002 |
2.921 |
3.142 |
3.369 |
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2.164 |
1.861 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
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- |
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Long-term (above 1 Year) |
3.456 |
4.598 |
- |
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5.482 |
5.374 |
5.190 |
5.637 |
4.835 |
4.588 |
4.668 |
3.739 |
3.463 |
3.178 |
2.891 |
3.361 |
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3.258 |
1.513 |
- |
- |
- |
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- |
- |
- |
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Savings Deposit Rates 1,2 |
0.899 |
1.231 |
- |
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1.403 |
1.239 |
1.409 |
1.326 |
1.358 |
1.244 |
1.365 |
1.341 |
1.130 |
0.994 |
0.999 |
0.974 |
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Bank Average Lending Rates 1,3 |
6.139 |
7.087 |
- |
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7.267 |
6.680 |
7.424 |
7.196 |
7.476 |
7.212 |
7.382 |
7.108 |
6.991 |
7.105 |
6.767 |
6.542 |
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- |
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- |
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- |
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Lending Rates 1,4 |
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High |
7.109 |
8.018 |
- |
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8.249 |
8.380 |
8.486 |
8.615 |
8.525 |
8.383 |
8.103 |
7.778 |
7.628 |
7.367 |
7.348 |
7.350 |
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10.894 |
10.780 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
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- |
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Low |
4.573 |
5.497 |
- |
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5.500 |
5.686 |
5.797 |
5.899 |
5.844 |
5.708 |
5.603 |
5.444 |
5.263 |
5.092 |
5.075 |
5.051 |
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6.072 |
6.001 |
- |
- |
- |
- |
- |
- |
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- |
- |
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Overnight Lending Facility (OLF) Rates 5 |
4.581 |
4.996 |
4.063 |
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.. |
5.250 |
5.250 |
5.250 |
5.000 |
5.000 |
5.000 |
4.806 |
4.696 |
4.500 |
4.500 |
4.500 |
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4.500 |
4.300 |
.. |
.. |
.. |
.. |
.. |
2.750 |
.. |
2.750 |
2.750 |
2.500 |
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2.500 |
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Overnight RRP Rates 5 |
3.625 |
4.408 |
2.733 |
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4.750 |
4.750 |
4.750 |
4.750 |
4.500 |
4.500 |
4.500 |
4.316 |
4.217 |
4.000 |
4.000 |
4.000 |
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4.000 |
3.804 |
3.554 |
3.092 |
2.750 |
2.652 |
2.250 |
2.250 |
2.250 |
2.250 |
2.158 |
2.000 |
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2.000 |
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Overnight Deposit Facility (ODF) Rates 5 |
2.921 |
3.798 |
2.054 |
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4.250 |
4.250 |
4.250 |
4.250 |
4.000 |
4.000 |
4.000 |
3.858 |
3.709 |
3.500 |
3.500 |
3.500 |
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3.500 |
3.329 |
2.979 |
2.491 |
2.250 |
2.169 |
1.750 |
1.750 |
1.750 |
1.750 |
1.655 |
1.500 |
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1.500 |
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BSP Securities 5 |
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28 - Day |
- |
- |
1.844 |
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- |
- |
- |
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- |
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- |
- |
- |
- |
- |
- |
- |
- |
1.840 |
1.935 |
1.843 |
1.691 |
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1.642 |
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Term Deposit Facility (TDF) Rates 5 |
3.894 |
4.541 |
2.241 |
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5.150 |
5.160 |
5.073 |
4.950 |
4.619 |
4.693 |
4.643 |
4.574 |
4.457 |
4.304 |
4.290 |
4.332 |
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4.203 |
4.001 |
3.828 |
3.074 |
2.261 |
2.251 |
1.769 |
1.780 |
1.840 |
1.866 |
1.971 |
1.722 |
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1.662 |
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7 - Day |
3.840 |
4.528 |
2.123 |
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5.063 |
5.131 |
5.005 |
4.865 |
4.643 |
4.650 |
4.570 |
4.487 |
4.358 |
4.226 |
4.230 |
4.285 |
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4.079 |
3.911 |
3.769 |
2.523 |
2.256 |
2.251 |
1.755 |
1.771 |
1.831 |
1.878 |
1.917 |
1.717 |
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1.642 |
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14 - Day |
3.921 |
4.572 |
2.042 |
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5.149 |
5.173 |
5.108 |
4.897 |
4.655 |
4.675 |
4.624 |
4.530 |
4.414 |
4.246 |
4.316 |
4.329 |
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4.123 |
3.913 |
3.791 |
.. |
.. |
2.251 |
1.755 |
1.812 |
1.848 |
1.912 |
1.947 |
1.715 |
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1.660 |
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28 - Day |
3.938 |
4.521 |
2.705 |
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5.161 |
5.187 |
5.137 |
5.099 |
4.630 |
4.726 |
4.656 |
4.502 |
4.473 |
4.263 |
4.342 |
4.350 |
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4.159 |
3.944 |
3.760 |
.. |
.. |
.. |
1.758 |
1.802 |
1.849 |
1.845 |
.. |
.. |
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.. |
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Interbank Call Loan Rates |
3.734 |
4.665 |
3.537 |
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5.098 |
5.114 |
5.175 |
5.223 |
5.043 |
4.937 |
4.773 |
4.408 |
4.323 |
4.092 |
4.018 |
3.970 |
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3.822 |
3.708 |
3.539 |
3.308 |
2.430 |
2.349 |
1.813 |
1.914 |
1.871 |
1.875 |
1.883 |
1.997 |
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1.688 |
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1 Starting
1 January 2020, universal and commercial banks are required to submit the
amended reporting templates on banks' lending and deposit rates or Interest
Rates on Loans and Deposits (IRLD) |
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in
accordance with Circular Nos. 1029 and 1037, series of 2019. In view of the gradual lifting of the suspension of submission of bank reports
amid the New Economy Arrangement (NEA), |
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banks'
submission of IRLD reports is not yet complete. |
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2
Refer to the annual percentage
equivalent of commercial banks' actual monthly interest expenses on
peso-savings deposits to the total outstanding levels of these deposits. |
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3
Monthly rates reflect the annual
percentage equivalent of all commercial banks' actual monthly interest income
on their peso-denominated loans to the total outstanding levels of their
peso-denominated loans, bills discounted, |
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mortgage contract receivables and restructured loans. |
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4
Average of all high/low values. |
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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
were replaced by standing overnight lending
and overnight deposit facilities, respectively.
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The
reverse repurchase (RRP) facility was modified to a purely overnight RRP. In
addition, the term deposit facility (TDF) will serve as the main tool for
absorbing liquidity. The Overnight Lending Facility (OLF) and Overnight
Deposit Facility (ODF) will serve as |
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upper and lower bound, respectively, of the IRC system. The weighted
average interest rates (WAIR) of BSP rates are based on outstanding balance
as of month-end. Blank entries (…) refer to transactions within the month
that have matured by month-end, |
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hence
there were no outstanding balance and WAIR. |
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Beginning 18 September 2020, the BSP offers 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 |
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in the financial system and support the
implementation of monetary policy under the Interest Rate Corridor (IRC)
framework. For its initial offering, the BSP auctions 28-day BSP Bills with
an indicative offer volume of about P20 billion subject to confirmation two
days before the actual auction date. |
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r |
Revised |
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p |
Preliminary |
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- Not Available |
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.. No Transaction/No
Quotation/No Issue |
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... Blank |
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Sources: Bureau of the Treasury, Bangko Sentral
ng Pilipinas |
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