MANILA, Sept 9 (Reuters) - The Philippine central bank will
auction 28-day bills with an indicative offer volume of about 20
billion pesos ($411 million) in its maiden securities issuance
this month, it said on Wednesday.
The regular offer of bills and bonds via auctions, which
begins on Sept. 18 and will be scaled up gradually depending on
market response, is part of its initiative to shift to more
market-based monetary operations.
"The inclusion of BSP securities issuance in the standard
monetary operations of the BSP provides an additional instrument
for managing liquidity," it said in a statement.