Activity 1.

1. The Monetary Board exercises the powers and functions of the BSP.
2. The Governor is the Chief Executive Officer of the BSP.
3. Financial Institutions act as intermediaries between saver and borrowers and are
differentiated by the way they obtain and invest their funds.
4. Depository Financial Institutions are Any group that includes commercial banks,
savings and loan associations, mutual savings bank and credit unions.
5. Corporate Services Sector is mainly responsible for the effective management of
corporate strategy, communications and risks.
6. Monetary and Economics Sector is mainly responsible for the
operations/activities related to monetary policy formulation, implementation and
assessment.
7. Currency Management Sector is Mainly responsible for the forecasting,
production, distribution, and retirement of Philippine Currency.
8. Lender of last resort is responsible for the BSP extends discounts, loans and
advances to banking institutions for liquidity purposes.
9. Hon. Miguel Cuaderno, Sr. is the first governor of BSP.
10. Benjamin Diokno is the current governor of the Central Bank of the Philippines.