Outstanding local IOUs hit high of P7.68T in August | Inquirer Business
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TREASURY BILLS, BONDS

Outstanding local IOUs hit high of P7.68T in August

/ 05:24 AM September 11, 2021

Sustained reliance on domestic borrowings, especially bonds, further raised the amount of outstanding locally issued debt paper to a record P7.68 trillion as of August.

The latest Bureau of the Treasury data showed that the face amount of outstanding treasury bills and bonds rose from P7.58 trillion in July.

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Outstanding treasury bonds, whose auctions had been flocked by investors looking for long-term yields, climbed to P6.72 trillion in August from July’s P6.58 trillion.

On the other hand, outstanding T-bills further declined to P963.5 billion from P994.6 billion in July due to maturities of these short-dated IOUs across the three tenors.

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As of August, the benchmark 91-day securities had an outstanding volume of P136 billion; 182-day, P228.4 billion; and 364-day, P599.1 billion.

Outstanding bonds included P252.5 billion in three-year; P401.8 billion in five-year; P774.1 billion in seven-year; and P901.6 billion in 10-year. Treasury data showed the face amount of seven- and 10-year bonds jumped compared to month-ago levels.

The outstanding amount for 10-year agrarian reform bonds was P7.8 billion; P475.2 billion in 20-year; P235.9 billion in 25-year bonds; and P97.1 billion from the $6.582-million Philippine Par Bond redenominated into 28.5 years.

Also outstanding were P2.5 trillion in retail treasury bonds (RTBs); P1.1 trillion in benchmark bonds; P50 billion in 25-year CB-BoL T-bonds; P24.9 billion in onshore dollar T-bond; and P6.6 billion in one-year “premyo” bonds.

Larger local borrowings reduced risks from foreign exchange. The reliance on fund-raising mainly from the sale of T-bills and bonds also took advantage of oozing domestic liquidity.

—Ben O. de Vera
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TAGS: Bonds, Bureau of the Treasury, outstanding treasury bills
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