Chapter 4 Flashcards
It provides policy directions in the areas of money, banking and credit
BSP
It supervises operations of banks and exercise regulatory powers over non-bank financial institutions with quasi-banking functions
BSP
Functions of BSP
Liquidity Management
Currency Issue
Lender of last resort
Financial Supervision
Management of foreign currency reserves
Determination of exchange rate policy
Other activities
The BSP formulates and implements monetary policy aimed at influencing money supply consistent with its primary objective to maintain price stability
Liquidity Management
The BSP has the exclusive power to issue the national currency
Currency Issue
The BSP extends discounts, loans and advances to banking institutions for liquidity purposes
Lender of last resort
The bsp supervises banks and exercises regulatory powers over non-bank institutions performing quasi-banking functions
Financial supervision
The bsp seeks to maintain sufficient international reserves to meet any foreseeable net demands for foreign currencies in order to preserve the international stability and convertibility of the Philippine peso
Management of foreign currency reserves
The bsp determines the exchange rate policy of the philippines
determination of exchange rate policy
Other bsp functions
acts as the banker of the government
financial advisor of the government
official depository of the government
Describe the 1st organizational structure
Functional sectors
Monetary stability sector
Supervision and Examination sector
resource management sector
Offices under The executive management services
Monetary Board
- Office of the secretary to the monetary board
- Internal Audit Office
- Office the General counsel and legal services
- Office of special investigation
Governor
- Treasury delartment
- systems and method office
- BSP staff in almcs
- Corporate planning office
- risk management office
- corporate affairs office
provides administrative and secretarial services to the monetary board
office of the secretary to the monetary board
prepares opinions anf rulings for the MB, the governor, and the deputy governors on matters relating to policies, functions, operations and regukations of the bank
office of the general counsel and legal services
prosecutes and defends cases involving the bsp, the mb and management in judicial and administrative proceedings
office of the general counsel and legal services
evaluates bank irregularities and anomalies noted in the examination reports submitted by examining departments
office of the special investigation
monitors the internal control system of the bsp
internal audit office
reviews and appraises the effectiveness of operating control systems
internal audit office
monitors utilization of security materials, disposal of production wastes, and receipt of gold and other precious metals at the spc
internal audit office
manages the bsp’s international reserves at a level and a mix that allows the bsp to meet any demands for foreign currency
treasury department
undertakes open market operations and transacts with accredited government securities dealers and the rest of the members
treasury department
participates in the philippine dealing system to ensure the competitiveness of the philippine peso and its convertibility
treasury department
ensures a well organized and integrated bank wide effort to develop and maintain efficient systems and procedures
systems and method office