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Treasury Bills
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Fixed Rate Treasury Notes
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Retail Treasury Bonds
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Local Corporate Bonds (Php)
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Foreign Currency Sovereigns
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Fees and Charges
Treasury Bills
Features |
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|---|---|
| Description | Most Actively traded zero-coupon debt instrument |
| Investor Profile | Those seeking short-term and risk-free investments |
| Minimum Transaction Amount | PHP 100,000.00 |
| Term/Tenor | 91,182, and 364 days from original issue date |
| Counterparty Risk | Republic of the Philippines |
| Taxation | Interest income subject to 20% final withholding tax |
| Manner of Purchase | Through the secondary market |
| Documentation | Confirmation of Sale (COS) Without Recourse 3rd Party Custodianship documents |
| Liquidity | Bank will provide liquidity for those willing to sell their securities, subject to prevailing market rates. |
| Availability | 91, 182, and 364 days from original issue date. |
Fixed Rate Treasury Notes
Features |
|
|---|---|
| Description | Debt instruments that promise to pay a specific sum of money with frequent fixed rate coupon payments at a specified future date. |
| Investor Profile | Those seeking short-term and risk-free investments |
| Minimum Transaction Amount | PHP 100,000.00 |
| Term/Tenor | 2,5,7,10,20, and 25 years from original issue date. |
| Counterparty Risk | Republic of the Philippines |
| Taxation | Interest income subject to 20% final withholding tax |
| Manner of Purchase | Through the secondary market |
| Documentation | Confirmation of Sale (COS) Without Recourse 3rd Party Custodianship documents" |
| Liquidity | Bank will provide liquidity for those willing to sell their securities, subject to prevailing market rates. |
| Availability | All RCBC branches nationwide (cutt-off:4:00 PM) |
Retail Treasury Bonds
Features |
|
|---|---|
| Description | Debt instruments that promise to pay a specific sum of money with frequent fixed rate coupon payments at a specified future date. |
| Investor Profile | Those seeking short-term and risk-free investments |
| Minimum Transaction Amount | PHP 5,000.00 |
| Term/Tenor | Up to 25 years from original issue date |
| Counterparty Risk | Republic of the Philippines |
| Taxation | Interest income subject to 20% final withholding tax |
| Manner of Purchase | Through the secondary market |
| Documentation | Confirmation of Sale (COS) Without Recourse 3rd Party Custodianship documents |
| Liquidity | Bank will provide liquidity for those willing to sell their securities, subject to prevailing market rates. |
| Availability | All RCBC branches nationwide (cutt-off:4:00 PM) |
Local Corporate Bonds (Php)
Features |
|
|---|---|
| Description | A debt instrument issued by private and public corporations, usually with regular coupon payments |
| Investor Profile | Those who are seekung medium to long term investments and are comfortable with corporate risk. |
| Minimum Transaction Amount | PHP 100,000.00 |
| Term/Tenor | From 3 years to 10 years from original issue date. |
| Counterparty Risk | Philippine Corporations e.g. Enegy Development Corporation, San Miguel Brewery Inc. |
| Other Features | Usually pays a premium over government securities and bank deposits. |
| Taxation | Interest income on PHP corporate bonds is subject to 20% final withholding tax |
| Manner of Purchase | Through the secondary market |
| Documentation | Confirmation of Sale (COS) Without Recourse 3rd Party Custodianship documents |
| Liquidity | Bank will provide liquidity for those willing to sell their securities, subject to prevailing market rates. |
| Availability | All RCBC branches nationwide (cutt-off:4:00 PM) |
Foreign Currency Sovereigns
US Treasuries |
Republic of the Philippines |
Other Sovereign |
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|---|---|---|---|
| Description | Debt instruments backed by the full faith and credit of the U.S. Government | Debt instruments issued by the Republic of the Philippines in other currencies, usually in US Dollars | A debt security issued by a national government within a given country and denominated in a foreign currency |
| Investor Profile | Those who are looking for investments in currencies other than PHP, in a variety of tenors and with minimal risk. | ||
| Minimum Transaction Amount | USD 100,000.00 |
USD 200,000.00 |
USD 200,000.00 |
| Term/Tenor | From 1 month to 10 years from original issue date | From 3 years to 25 years from original issue date | From 2 years to 30 years from original issue date |
| Counterparty Risk | U.S. Government | Republic of the Philippines | Country of Origin |
| Taxation | Please consult your tax counsel | ||
| Manner of Purchase | Through the secondary market | ||
Fees and Charges
| Type of Fees | Client Fees Retail | Description | Sample Computation |
| Ph Government Securities | FV Php1Mn | ||
| Broker Fees | 12.5bps | Commission charges of RCBC; Charged based on Face Value (FV) of each trade (p.a. if less than 1year); or min of Php500 | (1) FV 1Mn x 0.00125 = 1,250.00 (2) Less than 1yr = FV1Mn x 0.00125 x 180/360 = 625.00 |
| Bid-Thru Fees | 12.5bps | Charged to allow investors to participate in primary issuances (i.e. Tbills and FXTNs) Min amount of Php10mn | FV Php10Mn x 0.00125 = 12,500.00 |
| Php Corporate Securities | |||
| Broker Fees (Primary Market) | 15bps | Commission charged to allow investors to participate in the primary issuances | FV 1Mn x 0.0015 = 1,500.00 |
| Broker Fees (Secondary Market) | 15bps | Commission charges of RCBC; Charged based on Face Value (FV) of each trade (p.a. if less than 1yr); or min of Php500 | (1) FV 1Mn x 0.0015 = 1,500.00 (2) Less than 1yr = FV1Mnx0.0015x180/360 = 750.00 |
| Foreign Currency Denominated Bonds | |||
| Custody Fee | 2.5bps p.a. | Charged by Landbank Trust for maintaining a Broker managed security arrangment as supported by Client's SPA | FV1Mnx0.00025 = 250.00 (if held for at least 1yr) |
| LBP Transaction Fee | $15 or $18 | Charged by Landbank Trust for each USD bond transaction (deliver and receive of securities); $15 for securities issued uner Core Market (securities issued in US, Australia, France, Germany, Italy, UK, Netherlands) or $18 for securities issued other than the Core Market | |
| Bid-thru Fees | 25bps | Charged to allow investors to participate in the primary issuances (i.e. ROPs, other Sovereign and Corporate Bonds) | FV USD 100k x 0.0025 = $250.00 |
| Broker Fees - non-QIB | 25bps | Commission charges of RCBC; Charged based on Face Value (FV) of each trade. | FV USD 100k x 0.0025 = $250.00 |
| Fees/Commission - QIBs | As applicable | Fees/Commission applied may range from 0-2% of purchase price. | |
| Broker Fees - Below Min Trading amount | $50 or 25bps of FV |
Commission charges of RCBC on securities being traded below the minimum tradable amount. This applies mostly on securities previously bought from the bank (but currently specified as illiquid by the bank) and being sold back to the market. Minimum of $50; or 25bps of FV whichever is higher. | FV Usd 25k x 0.0025 = $62.50 |
| US Treasury Bills (Min of $50,000.00 Face Value) | |||
| Broker Fees ($50k - 199,999.99) | 25bps | Commission charges of RCBC; Charged based on Face Value (FV) of each trade (pro-rated based on tenor); or min of $50.00 | Less than 1yr = FV50k x 0.0025 x 180/360 = $62.50 |
| Broker Fees ($200k - 999,999.99) | 25bps | Commission charges of RCBC; Charged based on Face Value (FV) of each trade (pro-rated based on tenor); or min of $50.00 | Less than 1yr = FV200k x 0.0025 x 180/360 = $250.00 |
| Broker Fees ($1Mn and up) | 25bps of $1mn | Commission charges of RCBC; Charged based on Face Value (FV) of each trade (capped at 25bps of $1Mn) | Less than 1yr FV3Mn = $1Mn x 0.0025 x 180/360 = $1,250.00 |
| Transfer of Securities | Php250.00 or $5.00 |
Fees charged for transfering securities to/from other banks, for both Php and FCDU (charged per security) | |
