Advisory on the Cancellation of the TDF Auction Scheduled on 18 March 2020

The Bangko Sentral ng Pilipinas (BSP) will not hold the auction on its Term Deposit Facility (TDF) tomorrow, 18 March 2020. Placements in the TDF that are due to mature will be credited automatically to their respective account balances.

The cancellation of the scheduled TDF auction is intended to ensure adequate short-term peso liquidity conditions in the financial system and support the smooth flow of funding to businesses and households as enhanced quarantine measures are implemented in Luzon. At the same time, the overnight lending facility (OLF) will remain available to cover temporary liquidity needs of BSP counterparties.

The RRP and overnight deposit facilities will likewise remain open to help counterparties manage their liquidity requirements.

Source: Bangko Sentral ng Pilipinas (BSP)