The Bureau of the Treasury (BTr) has raised P22 billion from the treasury bills auctioned yesterday amid healthy demand for the government IOUs.
The auction was more than four times oversubscribed, with bids amounting to P87.11 billion, prompting the auction committee to double the non-competitive bids for the 182-day securities.
Thus, the committee raised P22 billion from the sale of short-term IOUs, versus the P20 billion offering.
“Liquidity remains strong particularly on the front-end with assuring statements from (Bangko Sentral ng Pilipinas) governor (Benjamin) Diokno to continue supportive policies for economic rebound as well as Fed’s (Jerome) Powell message to keep rates low,” Rosalia de Leon, national treasurer, said in a Viber message to reporters yesterday.
The 91-day paper fetched a rate of 0.984 percent, 0.7 basis point (bps) higher than the previous average of 0.977 percent.
Demand reached P17.76 billion, with the auction committee awarding P5 billion as planned.
For the half-year securities, the average stood at 1.348 percent, 1.2 bps down from the previous rate of 1.36 percent.
Tenders amounted to P24.296 billion, with the treasury department awarding P7 billion, against the P5 billion program.
Lastly, the one-year debt instrument recorded a rate of 1.582 percent, lower by 2.3 bps compared to the 1.605 percent average posted in the previous auction.
The amount tendered was P45.055 billion, about 4.5 times the P10 billion which was fully awarded.
De Leon said the BTr also opened the tap facility window.
