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3-12. BA FM31P > Group 6: Philippine Peso > Flashcards

Group 6: Philippine Peso Flashcards

1
Q

Administers the Philippine Peso

A

BSP

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2
Q

Is crucial in driving the economy, facilitating trade, commerce, and daily transactionsl

A

Peso

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3
Q

It controls inflations, handles liquidity, and ensures financial stability for the currency.

A

PH Peso

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4
Q

BSP incorporates advanced security features

A

PH Peso

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5
Q

The currency pays tribute to _______________ and _____________ like Mayon Volcano and Chocolate Hills.

A

National Heroes, Culture Heritage

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6
Q

The Peso reflects both ____________ and ________________.

A

economic utility and Philippine heritage

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7
Q

BSP actively manages the circulation of pesos across the country, ensuring its _________ and __________.

A

Availability and Reliability

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8
Q

These efforts help maintain ____________ in the currency and its role in supporting the economy.

A

Public Trust

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9
Q

History of the Philippine Peso

A
  1. Pre-Hispanic Era
  2. Spanish Occupation
  3. Revolutionary Period
  4. American Occupation
  5. Japnese Occupation
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10
Q

Pre-Hispanic Era

A
  1. Cowry Shells
  2. Piloncitos
  3. The Barter System
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11
Q

Spanish Occupation

A
  1. Cobs or Macuquinas
  2. Dos Mundos
  3. Barilla
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12
Q

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.

A

Queen Isabela; Alfonso XII

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13
Q

What was the firs paper money in circulation?

A

Pesos Fuertes

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14
Q

This included two types of two-centavo copper coins and revolutionary notes in denominations of ____________.

A

1, 5, and 10 pesos

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15
Q

Large-denomination war notes issued without backing, leading to hyperinflation and were mockingly referred to as __________ by Filipinos

A

Mickey Mouse

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16
Q

In 1973, the Ang Bagong Lipunan (ABL) series introduced from ______ - _______ pesos.

A

2- 100 pesos

17
Q

The NEw Design Series (NDS) which included a new _____ in 1987 and the first _______ issued by the BSP in 1991 followed by ______ in 2002.

A

500, 1000, 200 Pesos

18
Q

are part of the New Generation Currency (NGC) series, which was introduced by the BSP in December 2010.

A

Philippine Banknotes

19
Q

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.

A

Money Laundering

20
Q

Creation of the Anti-Money Laundering Council (AMLC),

A

The Anti-Money Laundering Act of 2001 (Republic Act No. 9160)

21
Q

Which acts as the central body responsible for implementing AML measures, investigating suspicious activities, and coordinating with international counterparts.

A

Anti-Money Laundering Council (AMLC)

22
Q

Covered transactions reporting requirements, which obligate financial institutions to report transactions above a certain threshold or suspicious activities to the AMLC.

A

The Anti-money laundering Act of 2001 (Republic Act No. 9160)

23
Q

Reforms and Strengthening of Amla Laws

A
  • Republic Act No. 9194 (2003):
  • Republic Act No. 10167 (2012):
  • Republic Act No. 10365 (2013):
  • Republic Act No. 10927 (2017):
24
Q

Key Institutions Involved in AMLA Efforts

A
  1. Anti-Money Laundering Council (AMLC)
  2. Bangko Sentral ng Pilipinas (BSP)
  3. Securities and Exchange Commission (SEC)
25
Q

is the making of fake money with intention of gaining something, a form of forgery in which an object is imitated with the intention of deceiving by making it look like the real thing.

A

Counterfeiting

26
Q

Role of BSP in the Currency management

A
  1. Currency Design and Production
  2. Currency Distribution and Circulation
  3. Maintaining Currency Integrity
  4. Currency Policy and Regulation
  5. Management of Currency Reserves
  6. Adapting to the Digital Economy
27
Q

aims to further enhance financial inclusion, especially for the unbanked and underbanked sectors of the population

A

Digital Philippine Peso

28
Q

a digital currency secured by cryptography and operates independently of a central authority

A

Cryptocurrency

29
Q

uses encrypted data and is managed by a decentralized network called blockchain

A

Cryptocurrency

30
Q

a digital form of a country’s official currency issued and regulated by its central bank.

A

Central Bank Digital Currency

3-12. BA FM31P (6 decks)

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