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BANKING > 01 > Flashcards

01 Flashcards

1
Q

a public institution that is responsible for implementing monetary policy, managing the currency of a country, or a group of countries, and controlling the money supply

A

central bank

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2
Q

a central bank is a public institution that is responsible for implementing what?

A
  1. monetary policy
  2. managing the currency of a country or group of countries
  3. controlling the money supply
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3
Q

what are the main responsibilities of central banks

A
  1. defining monetary policy
  2. regulating money in circulation
  3. overseeng the inter-bank market
  4. loaning liquidity to commercial banks if necessary for solvency issues
  5. taking on an advisory role
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4
Q

defining monetary policy

A

main responsibilities of central banks

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5
Q

regulating money in circulation

A

main responsibilities of central banks

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6
Q

overseeing the inter-bank market

A

main responsibilities of central banks

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7
Q

loaning liquidity to commercial banks if necessary for solvency issues

A

main responsibilities of central banks

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8
Q

taking on an advisory role

A

main responsibilities of central banks

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9
Q

in 1933, what happened?

A

the system of central banking was conceptualized in the Philippines by a group of Filipino

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10
Q

what year did the system of central banking was conceptualized in the Philippines by a group of Filipino?

A

1933

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11
Q

the Philippine independence bill approved by the US Congress

A

Hare-Hawes Cutting Bill

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12
Q

the first governor of the central bank of the philippines

A

Miguel Cuaderno

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13
Q

what is Hare-Hawes Cutting Bill

A

the Philippine independence bill approved by the US Congress

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14
Q

In 1939, what happened?

A
  1. Tydings McDuffie Act.
  2. The Philippines legislature passed a law establishing a central bank
  3. As it was a monetary law, however, President Franklin D. Roosevelt disapproved it.
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15
Q

what year Tydings McDuffie Act

A

1939

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16
Q

what year The Philippines legislature passed law establishing a central bank

A

1939

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17
Q

As it was a monetary law, however President Franklin D. Roosevelt disapproved it

A

1939, philippine legislature passed a law establishing a central bank

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18
Q

what happened in 1944

A

second law was passed during the Japanese occupation

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19
Q

what year did the second law was passed during the Japanese occupation

A

1944

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20
Q

what happend in 1946

A
  1. a joint Philippine-american finance commission was created to study the philippine currency and banking system
  2. President Manuel Roxas instructed the sec. Miguel Cuaderno to drew up the charter of the central bank. he chose the charter of the central bank of Guatemala
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21
Q

what year did the joint of Philippine-American Finance Commision was created to study the Philippine currency and banking system

A

1946

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22
Q

what year did President Manuel Roxas instructed sec. Miguel Cuaderno to drep up the charter of the central bank and then he chose the charter of the central bank of guatemala

A

1946

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23
Q

what happend in 1947

A

result of joint of the Philippine-American Finance Commission = they recommended to shift to a dollar exchange standard system

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24
Q

what year did the result of joint of the Philippine-American Finance Commission recommended to shift to a dollar exchange standard system

A

1947

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25
Q

what happend in feb 1948

A

President Manuel Roxas submitted a bill “Establishing the Central Bank of the Philiippines”

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26
Q

what year did President Manuel Roxas submitted a biill “Establishing the Central Bank of the Philippines”

A

Feb 1948

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27
Q

what happned in jan 3, 1949

A

the central bank of the Philippines was inaugurated and formally opened with Hon. Miguel Cuaderno as the first governor

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28
Q

what date did the central bank of the Philippines was inaugurated and formally opened with Hon. Miguel Cuaderno as the first governor

A

Jan 3, 1949

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29
Q

what is monetary policy?

A
  1. the macroeconomics policy laid down by the central bank
  2. involves management of money supply and interest rate and is the deman dside economic poicy used by the government of a country
  3. to achieve macroeconomic objectives like inflation, consumption, growth, and liquidity
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30
Q

the macroeconomics policy laid down by the central bank

A

monetary policy

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31
Q

involves management of money supply and interest rate and is the deman dside economic poicy used by the government of a country

A

monetary policy

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32
Q

to achieve macroeconomic objectives like inflation, consumption, growth, and liquidity

A

monetary policy

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33
Q

monetary policy objectives

A
  1. price stability
  2. full employment
  3. economic growth
34
Q

what is banking policy?

A
  1. involves regulations and oversight of the banking sector to ensure its stability and proper functioning
  2. these aim policies to aim to safeguard consumers, prevent financial crises, and promote a fair and competitive banking environment
35
Q

involves regulations and oversight of the banking sector to ensure its stability and proper functioning

A

banking policy

36
Q

these aim policies to aim to safeguard consumers, prevent financial crises, and promote a fair and competitive banking environment

A

banking policy

37
Q

what could be done to achieve price stability

A
  1. open market operations
  2. acceptanc of terms deposits
  3. standing liquidity facilities
  4. other liquidity management facilities
38
Q

fiscal policy?

A
  1. use of government spending and taxation to influence the economy
  2. typically used to promote strong and sustainable growth and reduce poverty
39
Q

use of government spending and taxation to influence the economy

A

fiscal policy

40
Q

typically used to promote strong and sustainable growth and reduce poverty

A

fiscal policy

41
Q

types of fiscal policy

A
  1. contractionary policy
  2. expansionary policy
42
Q

Government increases spending or decreases taxes to stimulate economic growth.

A

expansionary fiscal policy

43
Q

Government reduces spending or increases taxes to cool down an overheated economy and control inflation

A

contractionary fiscal policy

44
Q

what are the fiscal functions

A
  1. allocation
  2. distribution
  3. stabilization
  4. economic growth
45
Q

what is the monetary board

A
  1. responsible for creating all the policy related to the adminisration, operation, and management of the Central Bank
  2. is the one responsible for exercising the powers and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system
46
Q

responsible for creating all the policy related to the adminisration, operation, and management of the Central Bank

A

monetary board

47
Q

is the one responsible for exercising the powers and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system

A

monetary board

48
Q

members of the monetary board

A
  1. government of the Central Bank
  2. The secretary of finance
  3. % other members
49
Q

what are monetary tools

A
  1. are tools to utilized to regulate both the supply and demand for money in the economy as well as the sectoral flow of credit in the financial system
50
Q

are tools to utilized to regulate both the supply and demand for money in the economy as well as the sectoral flow of credit in the financial system

A

monetary tools

51
Q

what are open market operations

A
  1. these involve the buying and selling of government securities
  2. the Repurchase Window is basically a credit facility whereby and/or non-banks temporarily sell their holding of Bangko Sentral Certificate of Indebtness (BSCIS) and other government securities to the Bangko Sentral
  3. a variant of these tool is the “reverse Repurchase Window” whereby the Bangko Sentral is the seller of securities on a buy-back agreement
52
Q

these involve the buying and selling of government securities

A

open market operations

53
Q

the Repurchase Window

A

basically a credit facility whereby and/or non-banks temporarily sell their holding of Bangko Sentral Certificate of Indebtness (BSCIS) and other government securities to the Bangko Sentral

54
Q

basically a credit facility whereby and/or non-banks temporarily sell their holding of Bangko Sentral Certificate of Indebtness (BSCIS) and other government securities to the Bangko Sentral

A

the Repurchase Window

55
Q

(BSCIS)

A

Bangko Sentral Certificate of Indebtness

56
Q

a variant of these tool is the “reverse Repurchase Window” whereby the Bangko Sentral is the seller of securities on a buy-back agreement

A

open market operations

57
Q

To promote and maintain price stability, a strong financial system, and a safe and efficient payments and settlements system conducive to a sustainable and inclusive growth of the economy

A

BSP mission

58
Q

BSP mission

A

To promote and maintain price stability, a strong financial system, and a safe and efficient payments and settlements system conducive to a sustainable and inclusive growth of the economy

59
Q

The BSP aims to be recognized globally as the monetary authority and primary financial system supervisor that supports a strong economy and promotes a high quality of life for all Filipinos

A

BSP vision

60
Q

BSP vision

A

The BSP aims to be recognized globally as the monetary authority and primary financial system supervisor that supports a strong economy and promotes a high quality of life for all Filipinos

61
Q

objectives of bsp

A
  1. maintain price stability conducive to a balanced and sustainabble growth of the economy and employment
  2. shall also promote and maintain monetary stability and the convertibility of the peso
  3. shall promote financial stability and closely work with the National Government, including, but not limited to, the Department of Finance, Securities and Exchange Commission, the Insurance Commission, and the Philippine Deposit Insurance Corporation
  4. oversee the payment and settlement systems in the Philippines, including critical financial market infrastructures, in order to promote sound and prudent practices consistent with the maintenance of financial stability
  5. shall promote broad and convenient access to high-quality financial services and consider the interest of the general public
62
Q

maintain price stability conducive to a balanced and sustainabble growth of the economy and employment

A

objectives of bsp

63
Q

shall also promote and maintain monetary stability and the convertibility of the peso

A

objectives of bsp

64
Q

shall promote financial stability and closely work with the National Government, including, but not limited to, the Department of Finance, Securities and Exchange Commission, the Insurance Commission, and the Philippine Deposit Insurance Corporation

A

objectives of bsp

65
Q

oversee the payment and settlement systems in the Philippines, including critical financial market infrastructures, in order to promote sound and prudent practices consistent with the maintenance of financial stability

A

objectives of bsp

66
Q

shall promote broad and convenient access to high-quality financial services and consider the interest of the general public

A

objectives of bsp

67
Q

core values

A
  1. excellence
  2. patriotism
  3. integrity
  4. solidarity
  5. accountability
68
Q

principal elements of BSP

A
  1. three stars
  2. the philippine eagle
  3. round shape
  4. font
69
Q

roles of the BSP

A
  1. operator of the real-time gross settlement known as PhilPaSS
  2. Provider of credit facilities to banks as a lender of last resort = Intraday Liquidity Facility (ILF), Overdraft Credit Line (OCL)
  3. overseer of the payments and settlements system
  4. user of its own RTGS system
  5. initiate changes/reforms for the payments system
70
Q

BSP function

A
  1. Bank of Issue
  2. Government’s Banker, Agent, and Adviser
  3. Custodian of the Cash Reserves of Banks
  4. Custodian of the Cash Nation’s Reserves of International Currency
  5. Bank Rediscount and Lender of Last Resort
  6. Controller Credit
71
Q

The establishment and organization of the Bangko Sentral ng Pilipinas is mandated according to

A

Republic Act No. 7553 (New
Central Bank Act).

72
Q

Republic Act No. 7553

A

(New Central Bank Act).

73
Q

is mandated according to Republic Act No. 7553 (New Central Bank Act).

A

The establishment and organization of the Bangko Sentral ng Pilipinas

74
Q

characteristics of central bank

A
  1. Monetary Authority
  2. Regulator and Financial Advisor of Financial System
  3. Manager of Foreign Exchange
  4. Issuer of Currency
  5. Place of the Profit Motive
  6. Central Bank Independence
75
Q

acitivities of the central bank

A
  1. Supervision/Pawnshop Regulation
  2. External Debt Regulation
  3. Money Market Involvement
  4. Foreign Exchange Regulation
  5. Export Related Measures
  6. Workers Remittances
76
Q

present officers of the monetary board

A
  1. Benjamin E. Diokno
  2. V. Bruce J. Tolentino
  3. Anita Linda R. Aquino
  4. Romeo L. Bernardo
  5. Rosalia V. de Leon
77
Q

chairman of the monetary board and governor

A

Eli M. Remolona, Jr.

78
Q

present officers of the deputy governors

A
  1. Francisco G. Dakila, Jr. - monetary and economics sector
  2. Chuchi G. Fonacier - financial supervision sector
  3. Mamerto E. Tangonan - payments and currency mangement sector
  4. Eduardo G. Bobier - corporate services sector
  5. Bernadette Romulo-Puyat - regional operations and advocacy sector
79
Q

senior assistant governors

A
  1. Elmore O. Capule - office of the general counsel and legal services
  2. Maria Ramona Gertrudes T. Santiago - financial markets
  3. Iluminada T. Sicat - monetary policy sub-sector
  4. Johny Noe Estanislao Ravalo - office of the systematic risk management
  5. Edna C. Villa - payments and currency development sub-sector
80
Q

assistant governors/executive director ii

A
  1. Arifa A. Ala - finaical supervision sub-sector 3
  2. Lyn I. Javier - policy and specialized supervision sub-sector
  3. Matthew M. David - anti-money laundering council secretariat
  4. Mary Jane T. Chiong - internal audit office
  5. Laura L. Ignacio - bsp research academy
  6. Mary Anne P. Lim - currency and securities production sub-sector

BANKING (4 decks)

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