Group 6: Philippine Peso Flashcards
Administers the Philippine Peso
BSP
Is crucial in driving the economy, facilitating trade, commerce, and daily transactionsl
Peso
It controls inflations, handles liquidity, and ensures financial stability for the currency.
PH Peso
BSP incorporates advanced security features
PH Peso
The currency pays tribute to _______________ and _____________ like Mayon Volcano and Chocolate Hills.
National Heroes, Culture Heritage
The Peso reflects both ____________ and ________________.
economic utility and Philippine heritage
BSP actively manages the circulation of pesos across the country, ensuring its _________ and __________.
Availability and Reliability
These efforts help maintain ____________ in the currency and its role in supporting the economy.
Public Trust
History of the Philippine Peso
- Pre-Hispanic Era
- Spanish Occupation
- Revolutionary Period
- American Occupation
- Japnese Occupation
Pre-Hispanic Era
- Cowry Shells
- Piloncitos
- The Barter System
Spanish Occupation
- Cobs or Macuquinas
- Dos Mundos
- Barilla
In Spanish Occupation, Gold coins with the portrait of _________ were minted in Manila and Silver pesos with the profile of ___________ were the last coins minted in Spain.
Queen Isabela; Alfonso XII
What was the firs paper money in circulation?
Pesos Fuertes
This included two types of two-centavo copper coins and revolutionary notes in denominations of ____________.
1, 5, and 10 pesos
Large-denomination war notes issued without backing, leading to hyperinflation and were mockingly referred to as __________ by Filipinos
Mickey Mouse
In 1973, the Ang Bagong Lipunan (ABL) series introduced from ______ - _______ pesos.
2- 100 pesos
The NEw Design Series (NDS) which included a new _____ in 1987 and the first _______ issued by the BSP in 1991 followed by ______ in 2002.
500, 1000, 200 Pesos
are part of the New Generation Currency (NGC) series, which was introduced by the BSP in December 2010.
Philippine Banknotes
The process by which criminals disguise the origins of illicit funds to make them appear legitimate, has long posed a serious threat to the integrity of the Philippine financial system.
Money Laundering
Creation of the Anti-Money Laundering Council (AMLC),
The Anti-Money Laundering Act of 2001 (Republic Act No. 9160)
Which acts as the central body responsible for implementing AML measures, investigating suspicious activities, and coordinating with international counterparts.
Anti-Money Laundering Council (AMLC)
Covered transactions reporting requirements, which obligate financial institutions to report transactions above a certain threshold or suspicious activities to the AMLC.
The Anti-money laundering Act of 2001 (Republic Act No. 9160)
Reforms and Strengthening of Amla Laws
- Republic Act No. 9194 (2003):
- Republic Act No. 10167 (2012):
- Republic Act No. 10365 (2013):
- Republic Act No. 10927 (2017):
Key Institutions Involved in AMLA Efforts
- Anti-Money Laundering Council (AMLC)
- Bangko Sentral ng Pilipinas (BSP)
- Securities and Exchange Commission (SEC)
