BSP Rediscount Rates for November 2021 and Loan Availments for the Period 01 January to 31 October 2021.
ENPNewswire-November 11, 2021--BSP Rediscount Rates for November 2021 and Loan Availments for the Period 01 January to 31 October 2021
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Release date- 10112021 - ?The Bangko Sentral ng Pilipinas (BSP) updates the public that the applicable rediscount1 rate for the month of November 2021 on loans under the Peso Rediscount Facility (PRF) remains at 2.50 percent, regardless of maturity (i.e., 1 to 180 days).
Meanwhile, rediscount rates on loans under the Exporters' Dollar and Yen Rediscount Facility (EDYRF) are set at 2.13225 percent for United States Dollar (USD) and 1.91700 percent for Japanese Yen, regardless of maturity (i.e., 1 to 360 days).
For the period 01 January to 31 October 2021, total availments2 of banks against their RLs3 remain unchanged at P6.12 million for loans under the PRF. These availments represent the rediscount of Production Credits that financed industrial processing (65.35 percent); and Other Credits that funded capital asset expenditures (24.81 percent) and permanent working capital (9.84 percent).4 On the other hand, there was no loan availment under the EDYRF for the period 01 January to 31 October 2021.5
1 Rediscounting is one of the credit facilities offered by the BSP. This facility is extended to qualified banks with active rediscounting lines (RLs) to meet their temporary liquidity needs by refinancing the loans they extend to their clients using the eligible papers of their end-user borrowers. These eligible papers include credit instruments such as promissory notes, drafts or bills of exchange of the following nature: a) Commercial Credits - resulting from the importation, exportation, purchase, sale, local transportation or storage of non-perishable and insured goods or products in authorized bonded warehouses or in other places approved by the Monetary Board; b) Production Credits - used for production or processing of agricultural, animal, mineral, or industrial products; or...
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