The Bangko Sentral ng Pilipinas has implemented new interest rates for its Discount Window Facility (DWF) effective 10 December 2025, adjusting both peso and foreign currency loan terms in line with prevailing benchmark rates and the central bank’s current monetary stance.
For peso loans, the BSP set the rate at 5.8933 percent for maturities of up to 90 days and 6.0366 percent for 91- to 180-day borrowings. These adjustments remain anchored on the BSP’s Overnight Lending Rate, ensuring consistency between short-term liquidity tools and the broader interest rate environment.
Meanwhile, the central bank maintained uniform pricing for US dollar-denominated DWF loans, with rates fixed at 6.27852 percent across all tenors from 1 to 360 days. Japanese yen loan rates, however, follow a graduated structure, starting at 2.72400 percent for up to 90 days, rising to 2.78125 percent for 91 to 180 days, and reaching 2.87875 percent for 181- to 360-day maturities.
The BSP noted that spreads applied to the facility may be adjusted as needed to reflect monetary policy objectives and shifts in market conditions. This flexibility ensures that the Discount Window remains responsive to liquidity demands and continues to serve as an effective mechanism for stabilizing short-term funding pressures within the financial system.
Market watchers view the updated rates as a signal that the BSP remains committed to maintaining a data-driven approach in calibrating its policy tools, especially as the global interest rate environment continues to evolve heading into 2026.