19 SELECTED DOMESTIC INTEREST RATES                                   19 SELECTED DOMESTIC INTEREST RATES (CONT'D)                              
  weighted average in percent per annum       weighted average 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  
                                                                                   
           
  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  
  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  
  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  
  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  
         
  Time Deposit Rates1       Time Deposit Rates1  
  Short-term (1 Year and below) 4.059 - - 2.164 1.861  -   -   -   -   -   -   -   -   -   -        Short-term (1 Year and below)  -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   
  Long-term (above 1 Year) 4.598 - - 3.258 1.513  -   -   -   -   -   -   -   -   -   -        Long-term (above 1 Year)  -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   
         
  Savings Deposit Rates 1,2 1.231 - -  -   -   -   -   -   -   -   -   -   -   -   -        Savings Deposit Rates 1,2  -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   
         
  Bank Average Lending Rates 1,3 7.087 - -  -   -   -   -   -   -   -   -   -   -   -   -        Bank Average Lending Rates 1,3  -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   
         
  Lending Rates 1,4       Lending Rates 1,4  
  High 8.018 - - 10.894 10.780  -   -   -   -   -   -   -   -   -   -        High  -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   
  Low 5.497 - - 6.072 6.001  -   -   -   -   -   -   -   -   -   -        Low  -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   -   
         
  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  
         
  Overnight RRP Rates 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 RRP Rates 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  
         
  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  
         
  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  
         
  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  
         
  7 - Day 4.528 2.123 1.715 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  
         
  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  
         
  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  
                                                                                 
                                                 
  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) 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), banks' submission of IRLD reports is not yet complete.       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) 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), banks' submission of IRLD reports is not yet complete.  
         
  2 Refers to the interest rate based on reporting universal and commercial banks' (U/KBs') interest expense and peso-denominated deposits       2 Refers to the interest rate based on reporting universal and commercial banks' (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 Refer to the average of U/KBs' reported high/low lending rates       4 Refer 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 were replaced by the standing overnight lending  and overnight deposit facilities, respectively. The reverse repurchase (RRP) facility was 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 were replaced by the standing overnight lending  and overnight deposit facilities, respectively. The reverse repurchase (RRP) facility was 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 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 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.       6 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 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.  
         
         
         -      Not Available              -      Not Available  
        ..      No Transaction/No Quotation/No Issue             ..      No Transaction/No Quotation/No Issue  
        ...     Blank             ...     Blank  
  Sources: Bangko Sentral ng Pilipinas (BSP), Bureau of the Treasury (BTr)                                   Sources: Bangko Sentral ng Pilipinas (BSP), Bureau of the Treasury (BTr)