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| Government
Securities Dealership |
Government evidenced by Confirmation of Sale (COS)
or Confirmation of Purchase (COP) are offered to investors
for a guaranteed rate of interest for a fixed period of time.
Opportunity for capital gains when prices of securities rise in
response to a fall in interest rates (Conversely, there maybe
losses if interest rates rise).
Interest income is subject to final withholding taxes of 20% for
T-Bills and FXTNs. For ROPs, interest income is not subject to
withholding taxes.
Bangko Sentral ng Pilipinas Circular no. 392 require securities
to be delivered to a Third Party Custodian. PBCom has nominated
Deutsche Bank as its Third Party Custodian (for both Peso and
dollar) and have also arranged to safekeep peso denominated
securities with the Bureau of Treasury Registry of Scripless
Securities. (BoTR RoSS). Regular statements of your Bond holdings
will be mailed to you.
Liquidity is available as these can readily be sold for cash before
their maturity date at prevailing rates. Minimum investment of
P100,000 for the Retail Treasury Bonds (RTBs), P100,000 for T
Bills and FXTNs or US$ 100,000 for ROPs.
- a) Treasury Bills (T-Bills)
Short term borrowing instruments issued by the
Philippine Government with original maturities
of between 3 to 12 months. They are issued at a
discount from the face value and redeemed at the
full face value upon maturity.
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b) Fixed Rate Treasury Notes (FX TNs)
Long term certificates of indebtedness issued by the Philippine Gevernment with original maturities of 2, 3, 5, 7, 10, 20
and 25 years. They yield a fixed rate of interest
(coupon) payable semi-annually for the entire life
of the securities.
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c) U S Dollar Bonds (ROPs)
Long term debt obligations of the Philippine
Government, denominated in United States Dollars.
These yield fixed rate of interest (coupon)
payable semi annually for the entire life of
the securities, normally from 2 to 25 years.
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| Money
Market Placement |
| Term Placement offered to investors at guaranteed
interest rate for a fixed period of time. Minimum
placement is Php 100,000 |
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| Commercial
Paper Trading |
| The Bank provides conversion rates at all times for USD/PHP or for major third currencies. Please call selected branches for timely quotations. |
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