Starting with the auction on 14 February 2018, the BSP will introduce a 14-day tenor under its Term Deposit Facility (TDF) as part of its efforts to have a more market-based approach to monetary operations. The offering of the 14-day TDF tenor stems in part from a series of BSP consultations with counterparties intended to refine its instruments and operations under the interest rate corridor system (IRC) to better respond to market requirements. The auction volume for the new tenor will be announced on the BSP website.

Source: Bangko Sentral ng Pilipinas (BSP)