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