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BSP eyes more investors in weekly debt notes offer

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The central bank is looking to attract more bids for its weekly issuance of 28-day securities after seeing strong demand last year. It now wants to open the bids to more entities apart from banks to shore up liquidity.

The Bangko Sentral ng Pilipinas wants to open its weekly bond offerings to more investors after seeing strong demand during its pilot run late last year.

Bids for the auctions held every Friday from September 18 to December 18 accumulated to ₱1.532 trillion, nearly double the ₱890 billion put up for sale. Some ₱259.7 billion of placements remain payable as of December 18, accounting for 14.2% of available cash in the financial system. BSP Senior Director Zeno Abenoja said they are in talks with the local organization of trust entities in the country for months now to"increase their involvement" in this tool.

 

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