BSP rediscount rates, set at 2.75%

The Bangko Sentral ng Pilipinas’ (BSP) rediscount rate for loans under the Peso Rediscount Facility has been set at 2.75 percent, regardless of loan maturity on 23 May 2022, central bank said.

The BSP stressed this is in line with the temporary reduction of the term spread on peso rediscounting loans relative to BSP’s overnight lending rate to zero until 30 June 2022.

Meanwhile, the applicable BSP rediscount rates for loans under the Exporters’ Dollar and Yen Rediscount Facility for May 2022 remain at 3.33486 percent for United States Dollar and 1.98246 percent for Japanese Yen, regardless of loan maturity.