Chapter 3

Question 1

is the central bank of the Republic of the Philippines

Answer 1

Bangko Sentral ng Pilipinas

Question 2

It was established on… pursuant to the provisions of the 1987 Philippine Constitution and the New central bank act of 1993

Answer 2

july 3 1993

Question 3

location of bsp main complex

Answer 3

manila

Question 4

located in quezon city and houses a banknote printing plant, a securities printing plant, a mint and a gold refinery

Answer 4

security plant complex

Question 5

the bsp regional offices

Answer 5

la union
cebu city
davao city

Question 6

regional offices perform

Answer 6

cash operations
casn administration
loans and rediscounting
bank supervision
gold buying operations

Question 7

act no 52 wa passed by the first philippine commission placing all banks under the bureau of treasury

Answer 7

1900

Question 8

it was authorized to supervise and examine banks and banking activities

Answer 8

insular treasurer

Question 9

the bureau of banking under tge department of finance took over the task of banking supervision

Answer 9

february 1929

Question 10

a bill establishing a central bank was drafted by secretary of finance manuel roxas and approved by the philippine legislature

Answer 10

1939

Question 11

a joint philippine american finance commission was created to study the philippine currency anf banking system

Answer 11

1946

Question 12

a central bank council was formed to review the commissions report and prepare the necessary legislation for implementation

Answer 12

august 1947

Question 13

president manuel roxas submitted to congress a bill “establishing the central bank of the philippines, defining its powers…

Answer 13

february 1948

Question 14

the bill was signed into law as republic act no 265 by president elpidio quirino

Answer 14

june 15 1948

Question 15

the central bank of the philippines was inaugurated and formally opened with Hon. miguel cuaderno sr as the first governor

Answer 15

January 3 1949

Question 16

RA no 265 was amended by presidential decree no 72 to make the cbp more responsive to changing economic conditions

Answer 16

november 1972

Question 17

further amendments were made with the issuance of PD no 1771 to improve and strengthen the financial system

Answer 17

january 1981

Question 18

exexutive order no 16 amended the monetary board membership to promote greater harmony and coordination of government monetary and fiscal policies

Answer 18

1986

Question 19

the bangko sentral ng pilipinas was established to replace the cbp as the countrys central monetary authority

Answer 19

july 3 1993