With effect from April 30, 2019 the Bank introduced a new 7-day BoBC as the main instrument for conducting monetary operations to replace the 14-day BoBC. However, the move to 7-days is purely a technical change with no impact on the monetary policy stance, in particular the bidding behaviour at auctions by commercial banks. On that note, the yield on the new 7-Day BoBC maturing on May 8, 2019, was 1.59 percent, 1 basis point higher than at the previous auction for the 14-Day BoBC. For a 91-day paper maturing on July 31, 2019, the yield went up to 1.65 percent from 1.64 percent. The results of the auction held on April 30, 2019 are summarised below.

DATE: April 30, 2019

Note:
BoBC080519 - Bids at and above P99.974 received full allotment.
BoBC310719 - Bids at and above P99.579 received full allotment.