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Home » Announcements » Launch of the New BAP PhP BVAL Reference Rates

Launch of the New BAP PhP BVAL Reference Rates

Posted on: October 27, 2018

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 previously published rates will remain accessible in the PDS MarketPage as well as the PDS website.

For its new set of Reference Rates, the BAP, as the Benchmark Administrator, has engaged Bloomberg to be the Benchmark Calculation Agent and use its BVAL Evaluated Pricing Service to calculate the PHP BVAL Reference Rates every day.  The BAP has also engaged PDEx to be its Benchmark Publication Agent, and in this role, starting on Monday, October 29, 2018, PDEx will receive the set of PHP BVAL Reference Rates from Bloomberg which shall include the PHP BVAL Reference Rates – Benchmark Tenors, PHP BVAL Rates Government Securities (Bills) and PHP BVAL Rates Government Securities (Bonds) and publish the same once daily at 5:00 PM on the PDS MarketPage and the PDS website.

To access the PHP BVAL Reference Rates, please refer to the following links:

PDS Website (www.pds.com.ph)

  • PDS Website Homepage > PHP BVAL Reference Rates
  • Home>Market Data>Government Securities> PHP BVAL Reference Rates
  • Home>Market Data>Government Securities> PHP BVAL Rates Government Securities

MarketPage

  • Government Securities Tab>BVAL Rates
    • PHP BVAL Reference Rates
    • PHP BVAL Rates for Government Securities

Bloomberg terminal

  • Type “PDEX” <Go>

Should you have any queries regarding the publication of the new benchmarks, please do not hesitate to call PDS Client Services at 884-5063/884-5017/884-4408/884-5022 or email us at clientservices@pds.com.ph.  Queries regarding the new methodology will be responded to by the BAP and/or Bloomberg. You may also access the BVAL methodology document from the PDS Group website (www.pds.com.ph) at the following locations:

  • Home > Press Room Tab > Publications > BVAL Methodology
  • Home>Market Data>Government Securities> PHP BVAL Reference Rates
  • Home>Market Data>Government Securities> PHP BVAL Rates Government Securities

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