|
THE
government has capped the sale of retail Treasury bonds
or RTBs to P70 billion despite higher demand for the
three- and five-year IOUs.
Treasury
chief Roberto Tan said there was a “surge in demand”
from banks and government-owned or -controlled
corporations (GOCCs).
The sale
was programmed to last until July 29.
Tan told
reporters selling more than P70 billion would have a
negative impact on the national coffers, because the
cost of warehousing the money until the government
actually uses it would go beyond the interest it pays
investors who bought the IOUs.
“There
was too much surge in demand for it,” Tan told
reporters.
This
year’s RTB sale compares with the P77.6 billion sold
last year. |
