THE government sold its 91-day Treasury bills on Monday, after withdrawing the benchmark bills for nearly six months so as to reign in interest rates.

The Bureau of Treasury allowed the benchmark yield to rise by 202.4 basis points to 5.699 percent. The yield for the government’s 364-day bills rose by 4.4 basis points to 6.747 percent.

National Treasurer Roberto Tan said the rates reflect the market’s concern about inflation.

Out of the P3 billion worth of benchmark bills that were auctioned off Monday, the bureau awarded P2.238 billion.

THE National Economic and Development Authority-Investment Coordination Committee (Neda-ICC)-Cabinet Committee has validated two lending facilities that government units may use to tap concession loans from the governments of Japan and Korea.

Security Bank upgrades Treasury software

SECURITY Bank Corp., one of the country’s leading treasury dealers, is upgrading its treasury system to Guava Suite, a new system that allows greater customization, the bank said in a statement.

Foreign reserves grow to $36.7B

THE country’s gross international reserves (GIR) grew from $500 million to $36.7 billion.

Bangko Sentral ng Pilipinas (BSP) governor Amando Tetanco Jr. said GIR grew on the heels of deposits by the Power Sector Assets and Liabilities Management Corp., or PSALM. The money came from the asset sale of the National Power Corp. (Napocor).

Yield for 91-day T-bills advances to 5.699%

THE government sold its 91-day Treasury bills on Monday, after withdrawing the benchmark bills for nearly six months so as to reign in interest rates.

Metrobank expands remittance service to OFWs in South Korea

THE Metropolitan Bank & Trust Co. (Metrobank) has signed a remittance agreement with Hana Bank of South Korea to expand its remittance business, Metrobank said in a statement Monday.