FMGT 55 Flashcards
(100 cards)
It was the first state bank in the Philippines that was established on August 1, 1851 by the Board of Authorities (Junta de Autoridades) in Manila
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Banco Espanol-Filipino de Isabel II
it was among the first bank that emerged in the early 19th century which was more of a loan association than a regular bank.
Rodriguez Bank
it was put up and it was the first agricultural bank.
Postal Savings Bank
It is the first mutual savings in the country. A unique combination of savings banks and pawnshop opened in 1982 was provided initial capital by the Obras Pias.
Monte de Piedad y Caja de Ahorros
It is the service performed by the financial institution known as a bank, which is primarily concerned with the safekeeping of funds through the acceptance of deposits of money, and the provision of credit through lending of money.
Banking
The first proper banks would have sprung up where?
Ancient Mesopotamia
the first ‘proper’ bank could be said to be this
Goldsmiths of London
The first bank to offer banknotes was the Bank of England. Bank notes were, initially what?
Promissory notes
These 20th century technology was still used up until today
ATM Machines and SWIFT Payments
in 1900, was passed by the First Philippine Commission placing all banks under the Bureau of Treasury.
Act no. 52
In 1939, was created to study the Philippine currency and banking system. The Commission recommended the reform of the monetary system, the formation of a central bank and the regulation of money and credit.
Philippine-American Finance Commission
In 1946, this charter was chosen as the model of the proposed central bank charter
Central Bank of Guatemala
In Aug. 1947, lt was formed to review the Commission’s report and prepare the necessary legislation for implementation.
Central Bank Council
When did President Manuel Roxas submitted to Congress a bill “Establishing the Central Bank of the Philippines, defining its powers in the administration of the monetary and banking system, amending pertinent provisions of the Administrative Code with respect to the currency and the Bureau of Banking, and for other purposes.
February 1948
This bill was signed into law as Republic Act No. 265 by President Elpidio Quirino.
The Central Bank Act
When did the Central Bank of the Philippines (CBP) was inaugurated and formally opened?
January 3, 1949
Who is the first governor of BSP?
Miguel Cuaderno Sr.
RA No. 265 was amended this presidential decree to make the CBP more responsive to changing economic conditions.
Presidential Decree No. 72
Further amendments were made with the issuance of this to improve and strengthen the financial system, among which was the increase in the capitalization of the CBP from P10 million to P10 billion.
PD No. 1771
When did Republic Act No. 7653 passed establishing the Bangko Sentral ng Pilipinas (BSP), replacing CBP as the country’s central monetary authority
July 3, 1993
This law was passed amending RA No. 7653. The charter amendments bolster the capability of the BSP to safeguard price stability and financial system stability.
Republic Act no. 11211
It is a type of digital “currency” created by a community of online users, is stored in electronic wallets (e-wallets), and generally transacted online.
Virtual Currency
it is a type of VC that uses cryptography – a method of storing and transmitting data in unreadable form so that only the intended receivers can read and process it.
Cryptocurrency
The first and most popular cryptocurrency to date is this which was introduced in 2009
Bitcoin
