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Extended Banking Hours for the 2023 Annual Income Tax Filing Deadline. Read here.
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Advisory on Clickable Links in E-mails or SMS. Read here.

Government Securities

Government Securities (GS) are unconditional obligations of the Republic of the Philippines. These are relatively free from credit risk because the principal and interest are guaranteed by the National Government, backed by the full taxing power of the sovereign as the issuer and DBP as the selling agent. However, there may be market risks due to changes in the interest rates.

The Philippine Government issues both Peso and US Dollar denominated securities. There are two kinds of Peso Government Securities (GS): (1) Treasury Bills and (2) Treasury Bonds. Treasury Bills are obligations with maturity of one year or less, typically issued at a discount to the maturity value. Treasury Bonds are obligations with maturities ranging from 2 years to 25 years, typically issued at par with periodic coupon payments to be made up to final maturity. Some bonds may be issued without coupons and these are known as zero coupon bonds.

As for the dollar denominated GS, it has tenors of up to 25 years. Interest rates are paid semi-annually based on a fixed coupon rate.

GS are listed on the Bloomberg platform, executed at the best rate in the market and can be redeemed prior to maturity at prevailing market rates, subject to availability of buyers. Peso and Dollar Denominated GS are not insured by the Philippine Deposit Insurance Company (PDIC).

Peso Denominated Securities

    • Treasury Bills (TBills), Fixed Rate Treasury Notes (FXTNs) and Retail Treasury Bonds (RTB)
    • Minimum investment – Php100,000.00
    • May be used as collateral for loan
    • Interest rates are subject to prevailing market rate
    • Subject to the following fees*:
      • For securities with remaining term of 365 days or lower:
        • Broker’s fee = Face Value x 0.10% x Term/360 or PHP200.00 whichever is higher
        • Trading platform fee = Face Value x 0.0025% x Term/365
      • For securities with remaining term of more than a year:
        • Broker’s fee = Face Value x 0.10% or PHP200.00 whichever is higher
        • Trading platform fee = Face Value x 0.0025%
    1. Treasury Bills (TBills)
        • Term- 1 year and below
        • Issued at a discount; subject to 20% final tax
    2. Fixed Rate Treasury Notes (FXTNs)
        • Term – 2 to 23 years remaining term
        • Interest – payable semi-annually throughout the term of investment if held until maturity; subject to 20% final tax (except for Tax Exempt Institutions)
    3. Retail Treasury Bonds (RTB)
        • Term – 2 to 24 years remaining term
        • Interest – payable quarterly throughout the term of the investment if held until maturity; subject to 20% final tax (except for Tax Exempt Institutions)

US Dollar Denominated Securities

Republic of the Philippines (ROP) Bond / Retail Dollar Bond (RDB)

    • Minimum investment – US$100,000.00
    • Term – 1 to 35 years remaining term
    • Interest rates subject to prevailing market rate and coupon payment payable semi-annually throughout the term of investment if held until maturity
    • Tax – Non-taxable
    • Subject to the following fees*:
      • For securities with remaining term of 365 days or lower:
        • Broker’s fee = Face Value x 0.10% x Term/360 or PHP200.00 whichever is higher
        • Trading platform fee = Face Value x 0.0025% x Term/365
        • Clearstream (custodian) safekeeping fee of 0.8bps per annum based on account balance (if applicable)
      • For securities with remaining term of more than a year:
        • Broker’s fee = Face Value x 0.10% or Php200.00 whichever is higher
        • Trading platform fee = Face Value x 0.0025%
        • Clearstream (custodian) safekeeping fee of 0.8bps per annum based on account balance (if applicable)

*For applicable fees, please refer to the DBP website or contact our Treasury and Corporate Finance Marketing Department at (+632) 8818-9511 loc. 2831 or 2834.

Disclosures:
Market prices of Government Securities and/or Corporate Bonds are subject to fluctuations and may involve certain risks that may have significant impact on the performance of these investment options. Investors in these securities further understand and acknowledge that the bank is acting as a broker and not as a fiduciary/financial adviser. The information published on this brochure does not purport to provide all of the terms and conditions of any transaction or all or any of the risks associated with these securities. Thus, you may wish to contact a competent legal, financial, tax, accounting, and other professionals to help you better understand and recognize the risks arising from these securities and accompanying transactions.

To invest in these products and services, please go to the nearest DBP branch or contact our SEC Licensed Fixed Income Market Salesmen from the Treasury and Corporate Finance Marketing Department:

Lorena Go-Espanol
SEC C.R. No. 02-2009-03328
Tel.: (+632) 8818-9511 loc. 2834
Email: lgespanol@dbp.ph

Melea M. Maldia
SEC C.R. No 02-2013-08586
Tel.: (+632) 8818-9511 loc. 2831
Email: mmmaldia@dbp.ph

Maryrose G. Espino
SEC C.R. No. 02-2011-06336
Tel.: (+632) 8818-9511 loc. 2831
Email: mgespino@dbp.ph

Alyssa Joy M. Navarro
SEC C.R. No. 02-2017-12684
Tel.:  (+632) 8818-9511 loc. 2834
Email: ajmnavarro@dbp.ph

Mayvelyn P. Ver
SEC C.R. No. 02-2019-13516
Tel.:  (+632) 8818-9511 loc. 2834
Email: mpver@dbp.ph

Rizza Francesca B. Noscal
SEC C.R. No. 02-2021-14235
Tel.: (+632) 8818-9511 loc. 2831
Email: rfbnoscal@dbp.ph

 

“The Development Bank of the Philippines (DBP) is regulated by the Bangko Sentral ng Pilipinas (BSP). For inquiries and complaints, please visit your branch of account, email customerservice@dbp.ph, or contact the BSP Financial Consumer Protection Department at (02) 8708-7087; BSP Webchat – https://www.bsp.gov.ph/; SMS:021582277 (for Globe subscribers only); BSP Facebook https://www.facebook.com/BangkoSentralngPilipinas.”

 

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