The Bangko Sentral ng Pilipinas (BSP) has generated over P77 billion from the weekly auction of its own securities. Central bank data showed on Friday that its offer of P80-billion securities were undersubscribed by 0.97 times the offered volume, with total bids amounting to P77.45 billion, which were accepted. Through the regular auction of BSP securities, the issuance of such securities can contribute to improved price discovery for debt instruments and support monetary policy transmission in the process. Its authority to issue negotiable certificates of indebtedness, even in normal times, was restored by Republic Act (RA) 11211. BSP Governor Benjamin Diokno said earlier that monetary authorities continued to seek enhancements to the securities and improve its market-friendly features.

Source: Manila Times March 13, 2021 16:17 UTC