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Page 39 - பாதுகாக்கப்பட்டது ஓவர்‌நைட் நிதி ரேட் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

No takers for BSP rediscounting loans

Published March 10, 2021, 2:57 PM The central bank said its rediscounting facility has zero releases for the first two months of 2021 for both the peso and foreign currency-denominated windows because banks are still awash with cash and not lending. “The Bangko Sentral ng Pilipinas (BSP) updates the public that the applicable rediscount rate for the month of March 2021 on loans under the Peso Rediscount Facility (PRF) remains at 2.50 percent, regardless of maturity,” the BSP said in a statement Wednesday. The rediscount rates on loans under the Exporters’ Dollar and Yen Rediscount Facility (EDYRF) are set at 2.18838 percent for US Dollar and 1.91800 percent for Japanese Yen, regardless of maturity, the BSP added.

What Happened to My Interest Rate? Fed Intensifies Scrutiny of Lenders SOFR Transition Efforts | King & Spalding

To embed, copy and paste the code into your website or blog: In recent weeks, U.S. banks have been receiving inquiries from the U.S. Federal Reserve System (the “Fed”) in connection with the banks’ current London Inter-Bank Offered Rate (“LIBOR”) exposure, plans for amendments which add fallback rates to current contracts, and the status of fallback provisions for alternate rates, namely the Secured Overnight Financing Rate (“SOFR”). Industry analysts believe that this move is intended to provide the banking industry with a sense of urgency and to demonstrate the importance of an orderly LIBOR transition from the Fed’s perspective.

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