The auction committee of the Bangko Sentral ng Pilipinas (BSP) temporarily stopped the auction of 28-day term deposits
In an advisory, the BSP said it would offer P10 billion in seven-day and P60 billion in 28-day term deposits
at the auction on Aug.
Additionally, the remaining 88% of the deposits that were blocked will be converted into three equal new fixed term deposits
with a term of 6,9 and 12 months respectively within Bank of Cyprus with a higher interest rate.
The bank said that it has launched a Sharia-compliant term deposit
As to our plans for the 28-day term deposits
, this is something that is part of our monitoring.
The report reveals that consumer outcomes on rollovers of term deposits
have improved by billions of dollars.
20 as it dropped the 28-day term deposits
in June last year.
The term deposits
from 30 days to below 1 year will carry an interest rate of 8.
For next Wednesday's auction, the BSP will only offer P40 billion worth of seven-day term deposits
State Bank of India has decided to revise downwards its retail term deposit
rates with effect from Sep 7, 2012," according to an announcement of SBI.
MANILA, Philippines The yield of the seven-day term deposits
slipped yesterday as the Bangko Sentral ng Pilipinas (BSP) decided to drop the offering of the longer-dated instrument due to tight market conditions.