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When was BSP established?
3 July 1993
exercises the powers and functions of the BSP, such as the conduct of the monetary policy and supervision of the financial system
MONETARY BOARD
the chairman and the CEO, who is required to direct and supervise the operations and internal administration
GOVERNOR
the functional grouping of all units directly report to the Monetary Board or to the Governor.
EXECUTIVE MANAGEMENT SERVICES (EMS)
mainly responsible for the operations/activities related to monetary policy formulation, implementation, and assessment.
Monetary and Economics Sector (MES)
mainly responsible for the regulation of banks and other BSP-supervised financial institutions, as well as the oversight and supervision of financial technology and payment systems
Financial Supervision Sector (FSS)
mainly responsible for the effective management of BSP’s human, financial, and physical resources to support the BSP’s core functions, including oversight of the operations of the New Clark City – Program Management Office
Corporate Services Sector (CSS)
mainly responsible for maintaining the safety and integrity of the Philippine currency and ensuring a well-functioning payments and cash ecosystem that facilitates the economic activity and supports long-run economic growth
Payments and Currency Management Sector (PCMS)
mainly responsible for the management of activities related to regional operations, consumer empowerment and advocacy, and communications.
Regional Operations and Advocacy Sector (ROAS)
represent the BSP's aim to promote economic growth and prosperity, and the high standards of ethics and performance it holds.
yellow gold foreground elements
evocative of the honor, dignity, and noble character of the Filipino people, and the BSP's unwavering commitment to serve the nation.
two-tone midnight blue background
signify the Bank's operational efficiency, clarity of vision, and singlemindedness of purpose.
name of the Bangko Sentral ng Pilipinas is rendered in gold, using a clean sans-serif font
represent the three pillars of central banking (price stability, a stable banking system, and a safe and efficient payments and settlements system)
three golden stars
convey the singular and integrative nature of the BSP and its impartial approach to holistic growth and development.
Shape
represent the strong will, resolve, and the monetary and financial tools that the central bank uses in discharging its mandates.
talons
BSP's vigilance and readiness to seize challenges and opportunities that rise over the horizon.
eagle's head and eyes
symbolize the BSP's balanced, inclusive approach to growth and development, while also conveying the central monetary authority's mastery over its field.
eagle's outstretched wings and tail feathers
signifying the strength of leadership and foresight that the BSP provides in the financial sector and the economy.
Golden Philippine Eagle
When was the Central Bank of the Philippines established?
3 January 1949
BSP's Mandate
Sec. 3. RA 7653 (New Central Bank Act), as amended by RA 11211
The BSP's main responsibility
formulate and implement policy in the areas of money, banking and credit with the primary objective of preserving price stability.
Managing systematic risks and promoting a secure and reliable banking system by ensuring the safe and sound operation of banks and other BSP Supervised Financial Institutions (BSFIs)
FINANCIAL STABILITY
includes institutional and infrastructure arrangements and processes through which money is transferred from one party to another
EFFICIENT PAYMENTS & SETTLEMENTS SYSTEM
provides channels through which funds are transferred to discharge payment obligations arising from economic and financial transactions (includes digital transactions such as use of online facility and electronic wallet)
EFFICIENT PAYMENTS & SETTLEMENTS SYSTEM
The National Payment Systems Act
RA No. 11127
provides a policy and regulatory framework, also known as the National Retail Payment System or NPRS, to establish safe, efficient, and reliable retail payment system in the country
Overseer, Regulator, & Supervisor of Payment Systems
provide the necessary infrastructure through the operations of the Philippine and Settlements System or the "PhilPaSS".
Owner & Operator of Real Time Gross Settlement System
A group of Filipinos had conceptualized a central bank for the Philippines as early as _____.
1933
When: the discussion about a Philippine central bank that would promote price stability and economic growth continued.
During the Commonwealth period (1935-1941)
During the Commonwealth Period, the country’s monetary system then was administered by the ____________.
Department of Finance and the National Treasury
When: the Philippine legislature passed a law establishing a central bank.
1939
In 1939, as required by the __________,
the Philippine legislature passed a law establishing a central bank.
Tydings-McDuffie Act
President Franklin D. Roosevelt disapproved it due to _________.
strong opposition from vested interests
A second law was passed in ___ during the Japanese occupation, but the arrival of the American liberalization forces aborted its implementation.
1944
he instructed then Finance Secretary Miguel Cuaderno, Sr. to draw up a charter for a central bank.
President Manuel Roxas
President Manuel Roxas instructed __________ to draw up a charter for a central bank.
then Finance Secretary Miguel Cuaderno, Sr.
The establishment of a monetary authority became imperative a year later as a result of the findings of the _________ chaired by _______
Joint Philippine-American Finance Commission, Mr. Cuaderno
studied Philippine financial, monetary and fiscal problems in 1947
Joint Philippine-American Finance Commission
recommended a shift from the dollar exchange standard to a managed currency system.
Joint Philippine-American Finance Commission
created by President Manuel Roxas to prepare the charter of a proposed monetary authority,
Central Bank Council
Central Bank Council'‘s draft was submitted to Congress when?
February 1948
He affixed his signature on Republic Act No. 265, the Central Bank Act of 1948.
President Elpidio Quirino
President Elpidio Quirino, who succeeded President Roxas, affixed his signature on ___________.
Republic Act No. 265, the Central Bank Act of 1948
adopted the recommendations of the Joint IMF-CB Banking Survey Commission which made a study of the Philippine banking system.
Presidential Decree No. 72
When did PD No. 72 adopt the recommendations of the Joint IMF-CB Banking Survey Commission?
29 November 1972
made a study of the Philippine banking system.
Joint IMF-CB Banking Survey Commission
proposed a program designed to ensure the system’s soundness and healthy growth.
Joint IMF-CB Banking Survey Commission
In the ________, the National Assembly was mandated to establish an independent central monetary authority.
1973 Constitution
designated the Central Bank of the Philippines as the central monetary authority (CMA).
PD 1801
signed into law Republic Act No. 7653, the New Central Bank Act, on 14 June 1993.
President Fidel V. Ramos
President Fidel V. Ramos signed into law __________, on 14 June 1993.
Republic Act No. 7653, the New Central Bank Act
President Fidel V. Ramos signed into law Republic Act No. 7653, the New Central Bank Act, on _________
14 June 1993.
The law provides for the establishment of an independent monetary authority to be known as the Bangko Sentral ng Pilipinas, with the maintenance of price stability explicitly stated as its primary objective.
Republic Act No. 7653, the New Central Bank Act
