These are debt instruments issued by the National Government. These are direct, unconditional, and fully guaranteed obligations of the Republic of the Philippines, therefore, virtually risk-free.
Product Features
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Treasury Bills |
Retail Treasury Bonds |
Fixed Treasury Notes |
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Minimum Face Amount |
P200,000.00 |
P200,000.00 |
P200,000.00 |
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Original Tenor |
Up to 364 days |
Up to 25 years |
Up to 25 years |
|
Rate/Price |
Subject to prevailing market rates |
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Interest Computation |
Discounted Formula |
Quoted on clean price or gross yield |
Quoted on clean price or gross yield |
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Coupons |
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Paid quarterly or semiannually |
Paid semiannually |
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Tax Feature |
Subject to 20% final withholding tax |
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Liquidity |
Clients may sell securities subject to prevailing market price |
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Standard Settlement |
T+1 (all deals settled the next banking day) |
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Trading Hours |
9:00 a.m. to 12:00 p.m.; 2:00 p.m. to 4:00 p.m. |
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Documentation |
Confirmation of Sale (COS) / Confirmation of Purchase (COP) |
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Required Documents |
Notarized third party documents |
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Fees/Charges |
Minimum of 10 basis points based on face amount plus relevant third party fees |
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