MANILA, Philippines The yield of seven-day term deposits
eased for the sixth straight week, falling below three percent since June as banks continued to swarm the weekly term deposit
auction facility (TDF).
The Federal Reserve plans to continue its previously announced periodic testing of the Term Deposit
Facility (TDF) with one operation in October.
In June, the maiden month of the term deposit
facility (TDF) auctions, the total offering was only P30 billion, as only P20 billion in 28-day and P10B in seven-day term deposits
was auctioned off.
The bank has also declared the profit rates for Corporate Premier Term Account, PLS Supreme Saving Account, Senior Citizen Saving Account, Gharayloo Saving Account, Ziada Munafa Saving Account, PLS Saving Bank - Staff Accounts, PLS Saving Pension Account, Munafa Hi Munafa Term Deposits
, Munafa Hi Munafa Term Account - I, Munafa Hi Munafa Term Account - II, Munafa Hi Munafa Term Account - III, Munafa Hi Munafa Term Account, BOP Bonus Munafa Term Deposit
, BOP Bai Misaal Term Deposit
, Pehlay Munafa Deposit, BOP Kisan Dost Term Deposit
, BOP Senior Citizen Term Deposit
, BOP Young Lions Savings Account and BOP Behtareen Munafa Account.
Restrictive measures on fixed term deposits
are included in the decree: (a)On the first maturity of the fixed term deposit
, there is a provision for renewal for another period of the same duration by Bank of Cyprus.
Global Banking News-March 6, 2013--Al Hilal launches term deposit
account(C)2013 ENPublishing - http://www.
Banks swarmed the term deposit
auction facility (TDF) yesterday as bids for the short-dated term deposits
amounted to P127.
The key risk for investors is that at the end of the term, their term deposit
can roll over automatically from a high interest rate to a much lower interest rate.
The central bank has reduced the volume of the term deposit
facility (TDF) five times since it was launched in June 2016 as part of the shift to the interest rate corridor (IRC) framework.
The three state-owned financial services companies have announced hikes in their retail term deposit
rates by up to 125 basis points (1.
MANILA, Philippines Banks swarmed yesterday the term deposit
auction facility (TDF) as the Bangko Sentral ng Pilipinas (BSP) continued to offer only short-dated term deposits
due to the holiday season.
The rate of interest on this term deposit
for less than Rs.