The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was established on 3 July 1993 pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. The BSP took over from Central Bank of Philippines, which was established on 3 January 1949, as the country’s central monetary authority. The BSP enjoys fiscal and administrative autonomy from the National Government in the pursuit of its mandated responsibilities.
Primer
Who We Are
Audited Financial Statements
Facilities
Acquired Properties for Sale
BSP Calendar
Who We Are
Mandate, Functions & Responsibilities
Monetary policyThe primary objective of BSP's monetary policy is to promote a low and stable inflation conducive to a balanced and sustainable economic growth. The adoption of inflation targeting framework for monetary policy in January 2002 is aimed at achieving this objective.
Monetary OperationsMonetary operations refer to the buying/selling of government securities, lending/borrowing against underlying assets as collateral, acceptance of fixed-term deposits, foreign exchange swaps, and the use of other monetary instruments of the Bangko Sentral aimed at influencing the underlying demand and supply conditions for central bank money.
Systemic Risk ManagementThe promotion of “Financial Stability” is a formal mandate that is uniquely ascribed to the Bangko Sentral ng Pilipinas (BSP). This is provided for in the amended BSP Charter (Republic Act No. 11211) which was signed by President Duterte in February 2019.
Financial SupervisionThe Bangko Sentral has supervision over the operations of banks and exercises such regulatory powers as provided in the New Central Bank Act and other pertinent laws over the operations of finance companies and non-bank financial institutions performing quasi-banking functions.
Payments and Settlements System OversightPayment systems are essential to the effective functioning of financial systems worldwide. They provide the channels through which funds are transferred among banks and other institutions to discharge payment obligations arising from economic and financial transactions across the entire economy. An efficient, secure and reliable payment system reduces the cost of exchanging goods and services, and it is an essential tool for the effective implementation of monetary policy, and the smooth functioning of money and capital markets. It is this key role played by payment and settlement systems (PSS) in the smooth functioning of an economy in general and its financial and monetary system in particular that gives the central bank (CB) a strong incentive for ensuring that an effective, reliable and secure payment and settlement system is in place.
Currency ManagementThe BSP has the exclusive power and authority to issue the national currency. BSP’s notes and coins are issued against, and in amounts not exceeding, the assets of the BSP. All notes and coins issued by the BSP are fully guaranteed by the government and are considered legal tender for all private and public debts.
Inclusive FinanceIn line with its strategic mandate to promote broad and convenient access to high quality financial services and consider the interest of the general public, the BSP undertakes various programs and policy initiatives aimed at enhancing financial inclusion, financial education, and consumer empowerment.
Loans and Credit OperationsThe BSP extends discounts, loans and advances to banking institutions in order to influence the volume of credit consistent with objective of price stability and maintenance of financial stability. It also grants loans or advances to banking institutions in precarious financial condition or under serious financial pressures, subject to certain conditions.
International Reserves Management
The BSP maintains a healthy level of international reserves to provide liquidity support in times of volatility in the exchange rate and balance of payments.
International OperationsThe BSP’s mandate on international operations under the purview of the International Operations Department is to support the promotion and maintenance of price stability, external sustainability, and the integrity and value of the Philippine peso through the effective management of external debt, foreign investments and other foreign exchange (FX) transactions.
International Economic CooperationThe BSP’s proactive engagement in various regional and international fora significantly contributed to domestic policy formulation; assured partners through established crisis prevention safety nets; broadened opportunities offered by financial integration and cooperation agreements; and raised skills and knowledge through capacity building initiatives.
Economic EducationThe BSP’s Economic Education Portal provides the general public a guided access on the BSP’s collection of information on economic education for them to better understand and appreciate the role of the BSP, as the country’s central bank, in the Philippine economy. As the portal strategically presents the BSP’s available learning materials, it aims to develop and strengthen the public’s knowledge on economic concepts that could eventually guide them in making sound economic and financial decisions.
Investor Relations Group (IRG)The Investor Relations Group (IRG) of the Bangko Sentral ng Pilipinas (BSP, the Central Bank of the Philippines) was created in July 2001 to raise the Philippine government’s credit profile and promote the country as a viable investment destination. Now under BSP’s Strategic Communication and Advocacy, the core of IRG’s mandate is to communicate before an international audience key messages on the strengths of the Philippine economy, including sound macroeconomic fundamentals, improved investment climate, game-changing policy reforms, and long-term economic growth potential.
Strategic Communication Framework of the BSP
This document articulates a strategic communication framework for the Bangko Sentral ng Pilipinas (BSP) that is stakeholder-centric, evidence-informed, and results-oriented. While the concepts are not new, the SCF articulates the BSP's good communication and engagement practices through the decades to serve as guide for the conduct of these roles moving forward.
Vision, Mission and Core Values
Vision
English Version
The BSP aims to be recognized globally as the monetary authority and primary financial system supervisor that supports a strong economy and promotes a high quality of life for all Filipinos.
Filipino Version
Naghahangad ang BSP na makilala sa buong mundo bilang pangunahing tagapamahala ng sistema at kaayusan ng pananalapi at ekonomiya upang maitaguyod ang mataas na antas ng kabuhayan para sa lahat ng Filipino.
Mission
English Version
To promote and maintain price stability, a strong financial system, and a safe and efficient payments and settlements system conducive to a sustainable and inclusive growth of the economy.
Filipino Version
Itaguyod at panatilihin ang katatagan ng presyo ng mga bilihin at ng sistemang pinansyal, at ng mahusay, ligtas at maaasahang pamamaraan ng pagbabayad upang makatulong sa patuloy na paglago ng ekonomiya at pag-angat ng kabuhayan ng lahat ng mga Filipino.
Governance of the BankThe Monetary Board exercises the powers and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system. Its chairman is the BSP Governor, with five full-time members from the private sector and one member from the Cabinet.The Governor is the chief executive officer of the BSP and is required to direct and supervise the operations and internal administration of the BSP.
Seal, Charter & History
BSP Seal
BSP Charter
History of the Bank
Audited Financial Statements
The Management of the Bangko Sentral ng Pilipinas (BSP) is responsible for the preparation and fair presentation of the financial statements in accordance with Republic Act No. 7653 (the New Central Bank Act) and applicable Philippine Financial Reporting Standards and Philippine Accounting Standards as aligned with the International Financial Reporting Standards and International Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Facilities
BSP MuseumWithin the complex of the Bangko Sentral ng Pilipinas, the nation's central monetary authority, resides a numismatist's haven - the Museo ng Bangko Sentral ng Pilipinas. Inaugurated on January 3, 1999, as part of the celebration of the 50 years of central banking in the Philippines, the Museo showcases the Bank's collection of currencies.
KYM Briefing
The Payments and Currency Management Sector (PCMS) regularly conducts two (2) Know Your Money (KYM) Programs with gallery tour of the various phases of printing banknotes and security documents.
Acquired Properties For Sale
BSP-acquired properties are available for sale initially through public auction, and in case of unsuccessful bidding, are offered for negotiable sale. The sale of BSP-acquired properties shall be on an "As is, Where is" basis and the buyer shall undertake the responsibility to acquire and maintain peaceful possession and enjoyment of the property at his expense.
Search through our list of available properties for sale via the links below:
Properties for Public Auction
Properties for Negotiated Sale
Click here to download forms.
Interested buyers may inquire through email at acquiredassets@bsp.gov.ph Direct lines: 5306-3417, 5306-2911, 5306-2912, and 5306-3415
BSP Calendar
Calendar
Upcoming Events
As an expert in central banking and financial systems, I bring a wealth of knowledge and experience to elucidate the intricacies of the Bangko Sentral ng Pilipinas (BSP). My background includes an in-depth understanding of monetary policy, financial supervision, international operations, and various other facets of central banking.
Let's delve into the concepts mentioned in the provided article about the BSP:
Monetary Policy:
The BSP's primary objective is to promote low and stable inflation for balanced and sustainable economic growth.
It adopted an inflation targeting framework in January 2002 to achieve this goal.
Monetary Operations:
Involves buying/selling government securities, lending/borrowing against collateral, fixed-term deposits, foreign exchange swaps, and other monetary instruments to influence demand and supply conditions for central bank money.
Systemic Risk Management:
The BSP is mandated to promote financial stability, as per the amended BSP Charter (Republic Act No. 11211, 2019).
Financial Supervision:
The BSP supervises banks, exercises regulatory powers over finance companies and non-bank financial institutions performing quasi-banking functions.
Payments and Settlements System Oversight:
Highlights the importance of efficient, secure, and reliable payment systems in supporting economic and financial transactions.
Currency Management:
The BSP has the exclusive authority to issue the national currency, and its notes and coins are fully guaranteed by the government.
Inclusive Finance:
The BSP undertakes programs to enhance financial inclusion, financial education, and consumer empowerment.
Loans and Credit Operations:
The BSP extends discounts, loans, and advances to influence credit volume for price stability and financial stability.
International Reserves Management:
Maintaining healthy international reserves to provide liquidity support during exchange rate volatility and balance of payments issues.
International Operations:
Focuses on managing external debt, foreign investments, and other foreign exchange transactions to support price stability and the integrity of the Philippine peso.
International Economic Cooperation:
The BSP actively engages in regional and international forums to contribute to domestic policy formulation and enhance cooperation.
Economic Education:
The BSP's Economic Education Portal aims to strengthen the public's knowledge on economic concepts for informed decision-making.
Investor Relations Group (IRG):
Created to raise the Philippine government’s credit profile and promote the country as a viable investment destination.
Strategic Communication Framework:
The document outlines a stakeholder-centric, evidence-informed, and results-oriented communication framework for the BSP.
Vision, Mission, and Core Values:
Clearly defines the BSP's aspirations, goals, and fundamental principles.
Organization and Governance:
Describes the organizational structure and governance, with the Monetary Board exercising key powers.
BSP Seal, Charter & History:
Outlines the seal, charter, and historical background of the BSP.
Audited Financial Statements:
Management is responsible for preparing financial statements in accordance with relevant standards.
Facilities:
The BSP Museum showcases the Bank's collection of currencies, providing a historical perspective.
KYM Briefing:
The Payments and Currency Management Sector conducts Know Your Money programs, offering insights into banknote printing and security.
Acquired Properties For Sale:
BSP-acquired properties are sold through public auction or negotiable sale, and interested buyers can inquire through specified channels.
BSP Calendar:
Provides information about upcoming events and activities related to the BSP.
This comprehensive overview demonstrates the multifaceted role of the Bangko Sentral ng Pilipinas in steering the monetary and financial landscape of the Republic of the Philippines.
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