BANK. notes.docx

Bank

A financial institution that deals in money, generally accepting deposits and making loans.

Bangko Sentral ng Pilipinas

The central bank of the Philippines, regulated by the government and not under private authority.

Rothschild Family

A historically wealthy and noble banking family, often considered one of the richest families in the world.

BSP Logo

The emblem representing the Bangko Sentral ng Pilipinas, incorporating design elements that symbolize its mission and values.

Golden Philippine Eagle

A symbol in the BSP logo representing strength, leadership, and foresight in the financial sector.

Outstretched Wings

Symbolizes the BSP's balanced and inclusive approach to growth and development.

Talons

Represent the BSP's strong will and the financial tools it uses to fulfill its mandates.

Perfect Circle

The shape of the BSP logo, symbolizing the integrative nature of the BSP and its holistic approach to development.

Golden Stars

Represent the three pillars of central banking:price stability, a stable banking system, and an efficient payments system.

Corporate Text

The name of the Bangko Sentral ng Pilipinas in gold, signifying operational efficiency and clarity of vision.

Yellow Gold

A color in the BSP logo representing economic growth and high ethical standards.

Midnight Blue

A color in the BSP logo symbolizing honor, dignity, and commitment to serve the Filipino people.

Early Banking Practices

Banking activities that began around 2000 BC in Babylon, evidenced by clay tablets.

Obras Pias

The first bank in the Philippines, established in the 16th century to support charitable foundations.

Banco Espanol-Filipino

The first commercial bank in the Philippines, established in 1828, later known as Bank of the Philippine Islands.

Monte de Piedad

A savings bank established in 1882 aimed at helping the poor.

American Era Banking

The period when international banks began operating in the Philippines post-World War I.

Japanese Era Banking

A time when only Filipino and Japanese-owned banks were allowed to operate during the occupation.

Central Bank Act

The 1949 legislation that established the Central Bank of the Philippines.

E-Banking

The provision of banking services through electronic means, revolutionizing the banking industry.

General Banking Law of 2000

Legislation that institutionalized banking reforms in the Philippines.

Anti-Money Laundering Act

A law passed in 2001 to combat money laundering activities.

Merger

The absorption of one corporation by another, retaining the identity of the surviving corporation.

Consolidation

The union of two or more corporations into a new single corporation.

Types of Banks

Classification based on ownership, incorporation, structure, function, and management.

Economic Significance of Banks

Banks facilitate credit flow, create money, and maintain foreign trade.

State Supervision of Banks

The government's role in ensuring banks operate in the best interest of clients and maintain public trust.

Economic Justification for Banks

The need for careful analysis of competition, risk, and customer potential before establishing a bank.

Selection of Stockholders

The importance of choosing stockholders with good character and knowledge of banking for a bank's success.

Bank Location

Factors influencing a bank's location include accessibility and consumer shopping needs.

Regulatory Government Bodies

Entities like the SEC and BSP that oversee the establishment and operation of banks.

Certificate of Authority

A document required for the registration of a bank's articles of incorporation.

Board of Directors

A governing body of a bank, required to have independent directors to ensure proper oversight.

Licensing of Foreign Banks

Regulations governing the entry and operation of foreign banks in the Philippines.

Limited Liability

A benefit of establishing banks as corporations, protecting owners from personal liability beyond their investment.