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AAE 130 > UNIT II: The Philippine Financial System > Flashcards

UNIT II: The Philippine Financial System Flashcards

1
Q

OBRAS PIAS is translated as? and was founded in?

A

pious works; 1594

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2
Q

EXPLAIN OBRAS PIAS

A

a fund that was donated for charitable and pious projects managed by religious confraternities or friars

it was used to LOAN TO TRADERS

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3
Q

the OBRAS PIAS ended in _____ and it became the ___________ of a banking insti in the PH

A

1820; forerunner

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4
Q

organized by Governor Jose y Vargas in 1781, it helped transform the PH into a self-sufficient economy that became fin independent from Mexico

A

ECONOMIC SOCIETY OF FRIENDS OF THE COUNTRY

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5
Q

___________________ happened when King Ferdinand VII abolished the monopoly of galleon trade and the privileges of the Royal Company of the PH

A

TRADE LIBERALIZATION

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6
Q

what was the FIRST FILIPINO BANK?

A

Rodriguez Bank

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7
Q

who formed the FIRST FILIPINO BANK and WHEN DID HE FORM IT?

A

RODRIGUEZ BANK; 1830

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8
Q

the RODRIGUEZ BANK was called a bank, but it was more of a _________________

A

LOAN ASSOCIATION

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9
Q

what is the FIRST GOVERNMENT BANK in the PH?

A

Banco Espanol-Filipino de Isabel II

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10
Q

who established the FIRST GOVERNMENT BANK in the PH? and when?

A

Governor Antonio de Urbiztondo y Eguia in 1851

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11
Q

first bank in SOUTHEAST ASIA?

A

Banco Espanol-Filipino de Isabel II

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12
Q

bank that is currently known as BPI?

A

Banco Espanol-Filipino de Isabel II

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13
Q

what is the first SAVINGS BANK?

A

Monte de Piedad y Caja de Ahorros de Manila also know as Monte de Piedad Savings Bank

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14
Q

the first savings bank (Monte de Piedad Savings Bank) was established in _____ by ______?

A

1882; Felix Huertas

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15
Q

was considered as the “big bank for the small people”

A

PHILIPPINE NATIONAL BANK (PNB)

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16
Q

the assets and liabilities of the
First Agricultural Bank of the Philippine Government were transferred to this bank

A

PHILIPPINE NATIONAL BANK (PNB)

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17
Q

on July 18 1980, the first universal bank in the PH was inaugurated which is?

A

PHILIPPINE NATIONAL BANK (PNB)

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18
Q

on January 03 1949, this bank was inaugurated by Miguel Cuadero Sr. serving as its first governoe

A

CENTRAL BANK OF THE PHILIPPINES

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19
Q

who was the first governor of the CENTRAL BANK OF THE PHILIPPINES?

A

Miguel Cuadero Sr.

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20
Q

network of various institutions which generates and controls money and credit

A

FINANCIAL SYSTEM

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21
Q

composed of “all financial institutions, financial markets and instruments, legal and regulatory environment, and financial norms and behavior”

A

FINANCIAL SYSTEM

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22
Q

money and rights to receive money under specific circumstances

A

FINANCIAL CLAIMS

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23
Q

evidenced by financial instruments that specify the terms of the claims

A

FINANCIAL CLAIMS

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24
Q

two types of claims????

A

DEBTS and EQUITIES

25
Q

comprise private and public organizations whose assets consist of claims or incomes primarily derived from dealing in and/or performing services in connection with claims

A

FINANCIAL INSTITUTIONS

26
Q

transform assets of lender-savers into financial instruments such as loans, mutual funds, and pension funds

A

FINANCIAL INSTITUTIONS

27
Q

firms that provide financial services to consumers, businesses, and government units

A

FINANCIAL INSTITUTIONS

28
Q

TYPES OF FINANCIAL INSITUTIONS

A
  1. private banking institutions
  2. gov’t banking institutions
  3. private non-bank financial institutions
  4. govt non-bank financial institutions
  5. informal institutions
29
Q

means of bringing the forces of demand and supply of financial claims

A

FINANCIAL MARKETS

30
Q

perform the essential economic function of channeling from households, firms, and government

A

FINANCIAL MARKETS

31
Q

FINANCIAL MARKETS

spending less than their income results to?

A

SURPLUS FUNDS

32
Q

FINANCIAL MARKETS

spend or intend to consume or invest more than their means

A

SHORTAGE OR DEFICIT OF FUNDS

33
Q

FINANCIAL MARKETS

examples

A

debt and equity markets, primary and secondary markets, money and capital markets (i.e., Philippine Stock Exchange or PSE), futures market, options market, foreign exchange markets, domestic and international markets

34
Q

composed of government agencies that supervise and/or regulate financial institutions and markets based on existing laws and policies

A

SUPERVISORY AND REGULATORY AGENCIES

35
Q

supervise the operations of financial institutions, exercise regular powers over them,

A

SUPERVISORY AND REGULATORY AGENCIES

36
Q

evaluate the fin insti’s compliance to requirements, rules, guidelines, and restrictions in the conduct of their business,

A

SUPERVISORY AND REGULATORY AGENCIES

37
Q

build transparency and maintain the integrity of the financial system

A

SUPERVISORY AND REGULATORY AGENCIES

38
Q

SUPERVISORY AND REGULATORY AGENCIES IN THE PH FINANCIAL SYSTEM

provides policy directions in the areas of money, banking and credit

A

BANGKO SENTRAL NG PILIPINAS (BSP)

39
Q

SUPERVISORY AND REGULATORY AGENCIES IN THE PH FINANCIAL SYSTEM

supervises operations of banks and exercises regulatory powers over non-bank fin institutions with quasi-banking functions

A

BANGKO SENTRAL NG PILIPINAS (BSP)

40
Q

SUPERVISORY AND REGULATORY AGENCIES IN THE PH FINANCIAL SYSTEM

the national government regulatory agency charged with supervision over the corporate sector, the capital market participants, and the securities and investment instruments market, and the protection of the investing public.

A

SECURITIES AND EXCHANGE COMISSION

41
Q

SUPERVISORY AND REGULATORY AGENCIES IN THE PH FINANCIAL SYSTEM

tasked to regulate the sale and registration of securities, exchanges, brokers, dealers and salesmen.

A

SECURITIES AND EXCHANGE COMMISSION (SEC)

42
Q

SUPERVISORY AND REGULATORY AGENCIES IN THE PH FINANCIAL SYSTEM

mandated to regulate and supervise the insurance, pre-need, and HMO industries in accordance with the provisions of the Insurance Code,

A

INSURANCE COMMISSION (IC)

43
Q

SUPERVISORY AND REGULATORY AGENCIES IN THE PH FINANCIAL SYSTEM

promotes the viability and growth of cooperatives as instruments of equity, social justice and sustainable economic development,

A

COOPERATIVE DEVELOPMENT AUTHORITY (CDA)

44
Q

SUPERVISORY AND REGULATORY AGENCIES IN THE PH FINANCIAL SYSTEM

central policy-making and regulatory body mandated to safeguard the State’s ownership rights and ensure that the operations of GOCCs are transparent and responsive to the needs of the public.

A

GOVERNANCE COMISSION FOR GOCCS (GCG)

45
Q

implemented to ensure price stability, strong financial system, and economic growth

A

LAWS AND POLICIES

46
Q

OBJECTIVES OF THE FINANCIAL SYSTEM (6)

A
  1. provide intermediation
  2. provide loans
  3. stimulate social and economic development
  4. reduce strong dependence on foreign fund
  5. encourage the transformation of savings into investments
  6. assure that all types of clients have access to fin services
47
Q

FINANCIAL INSTITUTIONS may be generally classified as??

A
  1. banking or depository institutions
  2. non-bank financial institutions (NBFI’s)`
48
Q

FINANCIAL INSITUTIONS

BANKING OR DEPOSITORY INSTITUTIONS may be classified according to?

A
  1. ownership (private or public)
  2. place of incorporation (domestic or foreign)
  3. structure (stock or non-stock)
  4. management (unit bank, group banking, branch banking, or chain banking)
49
Q

FINANCIAL INSTITUSIONS
1. private banking institutions
2. gov’t banking institutions
3. private non-bank financial institutions
4. govt non-bank financial institutions
5. informal institutions

which are BANKING OR DEPOSITORY INSTITUTIONS?

A

1 and 2!!!

50
Q

FINANCIAL INSTITUSIONS
1. private banking institutions
2. gov’t banking institutions
3. private non-bank financial institutions
4. govt non-bank financial institutions
5. informal institutions

which are NON-BANK FINANCIAL INSTITUTIONS?

A

3 to 5!!!

51
Q

TYPE OF FINANCIAL CLAIM

a type of financial claim that does not convey ownership rights

A

DEBT

52
Q

TYPE OF FINANCIAL CLAIM

conveys ownership rights

A

EQUITY

53
Q

OTHER FINANCIAL SERVICES

A

advice

automated teller machine (ATM)

electronic payment system (EPS)

local and international remittance

telephone banking

electronic, mobile, and internet banking

online shopping/payment

54
Q

TYPES OF SAVINGS ACCOUNT

A
  1. deposit or transactional savings account
  2. money market account
  3. certificate of deposit
55
Q

TYPES OF SAVINGS ACCOUNT

earn interest, small minimum deposit, highest liquidity, can be transferred to a checking account or used for payment services, comes with an ATM Card

A

DEPOSIT AND TRANSACTIONAL SAVINGS ACCOUNT

56
Q

TYPES OF SAVINGS ACCOUNT

larger initial deposit and charges fees if the minimum balance is not maintained, higher interest rate than deposit savings account

A

MONEY MARKET ACCOUNT

57
Q

TYPES OF SAVINGS ACCOUNT

lowest liquidity, highest interest rate, depositor selects the duration, term, or maturity of the deposit; reinvestment for interest to compound

A

CERTIFICATE OF DEPOSIT

58
Q

GENERAL CLASSIFICATION OF INSURANCE

A
  1. life insurance
  2. non-life insurance
59
Q

TYPES OF INSURANCE

A

marine

fire

casualty

life

micro

bank deposit

agricultural

AAE 130 (9 decks)

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