Treasury keeps P135-B local borrowing cap in Q3

Posted at 06/27/2014 6:10 PM

MANILA – The national government has maintained its domestic borrowing ceiling at P135 billion for the third quarter.

The Bureau of Treasury said it kept its first quarter local borrowing cap through the auction of treasury bills and bonds from July to September to help finance this year's budget.

The treasury’s borrowing plan involves the sale of P20 billion worth of 91-, 182- and 364-day treasury bills from July to September and P25 billion per month during the auction of treasury bonds.

The treasury bill auctions will be held on July 9, August 6 and September 3.

Auctions for treasury bonds, on the other hand, are on July 24 for the 7-year bonds, August 20 for the 10-year bonds and September 18 for the 20-year bonds.

Government is programmed to borrow P730 billion this year to partly finance this year’s budget of P2.265 trillion.