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MANILA - Banks took out lower peso-denominated rediscounting loans in the first nine months this year amounting to PHP6.12 million compared to the same period in 2020, the Bangko Sentral ng Pilipinas (BSP) reported. Data released by the central bank on Monday showed that end-September 2021 total availments under the Peso Rediscount Facility (RRF), which currently has a 2.5 percent rate, is way lower than the PHP26.9 billion year-ago. "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)," the BSP report said. However, there was no availment under the Exporters Dollar and Yen Rediscount Facility (EDYRF) during the same period, it said. BSP said the last time the EDYRF was tapped by banks was in 2016, through a US dollar-denominated rediscounting loan. Its rediscounting facilities aim to provide a b

Bangko sentralPeso rediscount facilityProduction creditsExporters dollarYen rediscount facilityManila banks took out lower peso denominated rediscounting loans in the first nine months this year amounting to php6 12 million compared same period 2020He bangko sentral ng pilipinas bsp reported data released by the central bank on monday showed that end september 2021 total availments under peso rediscount facility rrfHich currently hasa 2 5 percent rateS way lower than the php26 9 billion year ago quot these availments represent rediscount of production credits that financed industrial processing 65 35 percent and other funded capital asset expenditures 24 81 permanent working 84Uot the bsp report said howeverHere was no availment under the exporters dollar and yen rediscount facility edyrf during same periodT said bsp the last time edyrf was tapped by banks in 2016Hrougha us dollar denominated rediscounting loan its facilities aim to providea boost banks 39 liquidity requirements by extending loansIth the financial institutions using their own borrowers 39 loans as collateral among eligible papers that banks can use to tap facility include promissory notesRafts or bills of exchange commercial creditsProduction credits