Philippine central bank shifts to variable rate repo auction

Central Bank of the Philippines
Patrick Roque (

The Philippine central bank has changed how it operates its overnight reverse repurchase (RRP) facility, its key monetary policy tool.

It said on September 4 that it would shift its RRP auctions to a variable rate format with a predetermined offer size starting today (September 8). Previously, the Bangko Sentral ng Pilipinas used a fixed rate format.

In an RRP operation, the BSP sells government securities to banks and selected non-banks with a commitment to buy them back on a specified future

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account