Sunday 24 June 2018
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4 months ago

BSP moves to neutralize cash from bank reserve cut

The Bangko Sentral ng Pilipinas has raised the amount of cash it siphons off from the market weekly to its highest level since November 2017 in an effort to sterilize liquidity freed up by last week s bank reserve requirement cut. On Wednesday, the BSP made a full award of P110 billion for all the three tenors of its term deposit facility, which it uses to encourage financial institutions to deposit idle cash with the central bank in exchange for a fixed yield. The 7-, 14- and 28-day instruments were al

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