Monetary Policy - Mod 3

Bangko Sentral ng Pilipinas (BSP)

the central bank of the Republic of the Philippines

Bangko Sentral ng Pilipinas (BSP)

It was established on July 3, 1993 purusant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993

New Central Bank Act of 1993

The BSP was established pursuant to the povisions of the 1987 Ph Constitution and ______

July 3, 1993

The BSP was established on ____

Central Bank of the Philippines

the name of the BSP before it became the BSP that was established on Januar 3, 1949 as the country’s central monetary authority

January 3, 1949

the Central Bank of the Philippines was established on ___ as the country’s central monetary authority

1933

a group of filipinos had conceptualized a centrl bank for the Philippines as early as ___

Commonwealth period (1935-1941)

During ___, the discussion about a Philippine central bank that would promote price stability and economic growth continued

Dept. of Finance and National Treasury

the country’s monetary system was then administered by _____

Tydings Mc-Duffie Act

In 1939, as required by ____ , the Philippine legislature passed a law establishing a central bank. As it was a monetary law, it required the approval of the United States president.

Franklin D.. Roosevelt

the president who disapproved the monetary law due to strong opposition from vested interests

1944

the second law was passed in 1944 during the Japanese occupation, but the arrival of the American liberalization forces aborted its implementation

Manuel Roxas

• Assumed office in 1946

• he instructed Finance Secretary Miguel Cuaderno Sr. to draw up a charter for a central bank