Chapter 3 Flashcards
is the central bank of the Republic of the Philippines
Bangko Sentral ng Pilipinas
It was established on… pursuant to the provisions of the 1987 Philippine Constitution and the New central bank act of 1993
july 3 1993
location of bsp main complex
manila
located in quezon city and houses a banknote printing plant, a securities printing plant, a mint and a gold refinery
security plant complex
the bsp regional offices
la union
cebu city
davao city
regional offices perform
cash operations
casn administration
loans and rediscounting
bank supervision
gold buying operations
act no 52 wa passed by the first philippine commission placing all banks under the bureau of treasury
1900
it was authorized to supervise and examine banks and banking activities
insular treasurer
the bureau of banking under tge department of finance took over the task of banking supervision
february 1929
a bill establishing a central bank was drafted by secretary of finance manuel roxas and approved by the philippine legislature
1939
a joint philippine american finance commission was created to study the philippine currency anf banking system
1946
a central bank council was formed to review the commissions report and prepare the necessary legislation for implementation
august 1947
president manuel roxas submitted to congress a bill “establishing the central bank of the philippines, defining its powers…
february 1948
the bill was signed into law as republic act no 265 by president elpidio quirino
june 15 1948
the central bank of the philippines was inaugurated and formally opened with Hon. miguel cuaderno sr as the first governor
January 3 1949
RA no 265 was amended by presidential decree no 72 to make the cbp more responsive to changing economic conditions
november 1972
further amendments were made with the issuance of PD no 1771 to improve and strengthen the financial system
january 1981
exexutive order no 16 amended the monetary board membership to promote greater harmony and coordination of government monetary and fiscal policies
1986
the bangko sentral ng pilipinas was established to replace the cbp as the countrys central monetary authority
july 3 1993
