BAP Advisory to Trading Participants: Inclusion of Done Deals in the calculation of PHP BVAL Reference Rates
BANKERS ASSOCIATION OF THE PHILIPPINES
BAP Advisory to Trading Participants
Inclusion of Done Deals in the calculation of PHP BVAL Reference Rates
We are pleased to announce that commencing today, November 9, 2018, PHP BVAL Reference Rates calculations already include rates from done deals for transactions with notional amounts equal to or greater than PHP 50 Million. This transaction cut-off of PHP50 Million is consistent with the previous transaction cut-off set for the calculation of PDST rates for individual trades. The delay in (more)
Advisory to Trading Participants
1. Published BVAL rates:
Please be advised that the BAP’s PHP BVAL Reference Rates (for Benchmark Tenors and for Government Securities) are now available on the terminals of Bloomberg, the Calculation Agent, and the website of PDEx, the Publication Agent.
a. On the Bloomberg terminals:
i. For the PHP BVAL Reference Rates for Government Securities, there are 3 PHP BVAL values displayed/published:
- BVAL Bid – is calculated from outstanding bids posted by market participants on the Bloomberg fixed (more)
Please be advised that effective Monday, October 29, 2018, the Bankers Association of the Philippines (BAP) will launch its new set of reference rates, the PHP BVAL Reference Rates to replace the current set of PDST Reference Rates (PDST-R1 & PDST-R2).
With the retirement of the PDST Reference Rates, PDEx shall cease to perform the daily calculation and publication of these rates after the last sets are published at the end of day of Friday, October 26, 2018. Please note that while the daily calculation and publication will cease, for parties interested in the historical data, the pages for the (more)
23 September 2019, Makati Philippines – Security Bank Corporation (SECB) issued and listed PHP 6.06 Billion worth of Long-Term Negotiable Certificates of Time Deposit Due 2025, the initial tranche of the approved PHP 20 Billion LTNCTD issuance, with a 5.5 year tenor and a 4% coupon rate to be paid quarterly. The issuance was driven… (more)
20 September 2019, Makati Philippines – SL Agritech Corporation (SLAC) lists PHP 2 Billion worth of Commercial Paper on the Philippine Dealing & Exchange Corp. (PDEx), across three short term tenors. The issue due December 20, 2019 carries a 5.996% discount rate, while the issue due March 20, 2020 a 6.100% rate, and the issue… (more)
13 August 2019, Makati Philippines – Robinsons Bank (RBank) lists PHP5 Billion Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx), twice as large from the planned base of PHP2.5 Billion. Maturing in 2021, its quarterly coupon has a 5.125% interest rate. This issue’s proceeds aim to sustain loan growth and boost long-term… (more)