Overview of the Banking and Financial Institutions
Bank/s
• Banking – Can be defined as the business activity of
accepting and safeguarding money owned by other
individuals and entities and then lending out this money to
earn profit.
• Financial System – A network of various institutions,
together with government agencies, laws and policies, which
generates, circulates and control money credits. A complex
structure and operation involving every individual and
business organization in a civilized society.
• Financial Institutions – are firms that connect borrowers
and lenders, provide savers and borrowers access to
financial instruments and markets.
• Financial Management – involves financial planning,
asset management and fund-raising decisions to enhance
the value of businesses.
Types of Financial Institution
1. Private Banking Institutions
A.)Commercial Banking Institutions – collects deposits
from individual and lend to businesses and individuals.
B.)Thrift Banks – primarily engaged in mobilizing the small
savings of people. They encourage the habit of thrift and
savings and provide loans at reasonable interest rates.
C.)Universal Banks – a bank that combines the three main
services of banking under one roof.
c.1. Retail banking – it services the members of the public
and small and medium size businesses.
c.2. Wholesale banking – involves borrowing and lending
money on a very large scale. It includes pension funds, giant
companies, governments and other financial institutions.
c.3. Investment Banking – it focuses on services for major
investors and companies. They specialize in the investment
requirements of pension funds.
2. Government Banking Institutions
A.)Philippine National Bank – a universal bank which
operates under the provision of Executive Order No. 80, the
1996 revised charter of PNB.
B.)Development Bank of the Philippines – provides
banking services principally to service the medium and long
term needs of agricultural and industrial enterprises,
particularly in the countryside and preferably for small and
medium enterprises.
C.)Landbank of the Philippines – created by the Agrarian
Reforms Code to finance the acquisition and distribution of
agricultural estates for division and resell these to small
landholders. It also financed the purchase of landholdings
by Agricultural lessees.
D.)Al-Amanah Islamic Investment Bank of the
Philippines – created for the purpose of promoting and
accelerating the socio-economic growth and development of
Mindanao.
3. Private Non-Bank Institutions
A.)Securities brokers – are agents of investors who match
buyers with sellers of securities.
B.)Securities dealers – link buyers and sellers by buying
and selling securities at stated price.
C.)Building and Loan Association - corporations whose
capital stock is required to be paid in by the stockholders in
regular, equal periodical payments.
D.)Lending Investors – They operate as money brokers.
E.)Pawnshops – provide credit to small borrowers who are
not qualified to obtain small loans from other financial
institutions with the security of personal property.
4. Government Non-Bank Financial Institutions
1.) Government Service Insurance System – extends life
insurance coverage and benefits to government employees.
2.)Social Security System – provide benefits to
workers/employees in the private sector.
Banking Institutions, Classifications and Functions
–A financial institutions who lends and borrow money, bank
is an office or institution for keeping, lending, and
exchanging of money.
– bank is either derived from old Italian word banca or from
a French word Banque both mean a Bench or money
exchange table.
–Bank is a business institution that receives surplus funds
from individuals, trading or non-trading institution,
government or private institution as deposit and supply
money with assurance of repayment against security in
exchange of profit or interest to trading or non-trading
institution, government or private institution who has deficit
funds and demand for money and to facilitate this process,
create various credit instruments and give facility of
withdrawals of deposit as and when needed.
–Financial institution that gives loans to spenders which are
repayable with interest over a certain amount of time.
Role of Banks
1)Mobilization of Savings. It encourages saving habits
amongst people and thereby makes funds available for
productive use.
2.)Capital Formation. It acts as an intermediary between
people having surplus money to those requiring money for
various business activities.
3.)Reduces use of Currency. It facilitates business
transactions through receipts and payments by cheques
instead of currency.
4.)Services to Business. It provides loans and advances
to businessmen for short term and long term purposes.
5.)Development of Credit Policy. It also facilitates import
export transactions.
6.)Balanced Development of Economy. It helps in
national development by providing credit to farmers, small-
scale industries and self-employed people as well as to
large business houses which leads to balanced economic
development in the country.
7.)Increasing the standard of Living. It helps in raising
the standard of living of people in general by providing
loans for purchase of consumer durable goods, houses,
automobiles, etc.
Functions Of Banks
1.Accepting Deposits- The banks borrow in the form of
deposits. This function is important because banks mainly
depend on the funds deposited with them by the public.
a.)Demand Deposits or Current Account Deposits -If a
depositor deposits money in the bank in the current account
(i.e., demand deposits), he can withdraw it in part or in full
at any time he likes without notice.
b.)Fixed Deposits or Time Deposits – These deposits are
made for a fixed period of time, which varies from fifteen
days to a few years.
c.)Savings Bank Deposits – In this case the depositor can
generally withdraw money usually once a week. Sometimes
there are also restrictions as to the total amount that can be
withdrawn at one time and the total amount that can be
placed in one deposit.
2.Accepting Loans – Banks give loans to businessmen
and firms usually for short periods only. This is so because
the bank must keep itself ready to meet the demands of the
people who have deposited money for short period only.
a.)By allowing an overdraft – Those people who keep
current account with the banks are sometimes given the
right to overdraw their accounts.
b.)Cash-Credit Loan – Under the cash-credit system,
borrower is sanctioned a credit limit up to which he can
borrow from the bank. c.)Demand Loan – Demand loans
granted by a bank are those loans which can be recalled on
demand by the bank any time.
3. Bills of Exchange or Hundies – A very important
3. Discounting Bills of Exchange or Hundies – A very important
function of a modern bank is to discount bills or hundies of
businessmen. 4.Transfer of Money – Banks
transfer money from one place to another for their customers.
5.Miscellaneous Functions – A bank now-a-days serves its
customers in various other ways. It has lockers or ‘safe deposit
vaults. They are meant to keep the valuables of customers in safe
custody.
Classification of Banks
1.Banking Institution or Depository Institutions - as used in this
part shall be construed to mean any bank, trust company, bank and
trust company, stock savings bank, or mutual savings bank, which
is now or may hereafter be organized under the laws of this state.
2.Non-Banking Institution or Non-Depository Institution - A
non-banking financial institution (NBFI) is a financial institution that
does not have a full banking license or is not supervised by a
national or international banking regulatory agency. NBFIs facilitate
bank-related financial services, such as investment, risk pooling,
contractual savings, and market brokering.
HISTORICAL DEVELOPMENT OF THE BANKING SYSTEM
Obras Pias – A charity foundation by layman used for charity works
and religious activities. It became a banking institution run by the
friars.
Rodriguez Bank – One of the first banks to emerge in the 19th
century. It was more of a loan association than a modern bank.
Banco Español-Filipino de Isabel II – It was the first state bank
established in the Philippines. The first bank that issued the paper
notes.
Monte de Piedad – It was the bank and a pawnshop.
Philippine National Bank – First agricultural bank. It has also
functioned as the de facto Central Bank of the Philippines until
1949. It was given the special power to issue circulating notes The
first universal bank in the Philippines (1980).
BANGKO SENTRAL NG PILIPINAS Objectives:
The BSP’s main primary objective is to maintain price stability
conducive to balanced and sustainable economic growth. The BSP
also aims to promote and preserve monetary stability and the
convertibility of the national currency.
Responsibilities: The BSP provides policy directions in the areas
of money, banking and credit. It supervises operations of banks
and exercises regulatory powers over non-bank financial
institutions with quasibanking functions.
Mission: 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.
Vision: 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 Filipino.
The BSP Seal
The new BSP logo is a perfect round shape in blue that features
three gold stars and a stylized Philippine eagle rendered in white
strokes. These main elements are framed on the left side with the
text inscription “Bangko Sentral ng Pilipinas” underscored by a gold
line drawn in half circle. The right side remains open, signifying
freedom, openness, and readiness of the BSP, as represented by
the Philippine eagle, to soar and fly toward its goal. Putting all
these elements together is a solid blue background to signify
stability.
Principal Elements:
1. The Philippine Eagle, our national bird, is the world’s
largest eagle and is a symbol of strength, clear vision and
freedom, the qualities we aspire for as a central bank.
2. The three stars represent the three pillars of central
banking: price stability, stable banking system, and a safe
and reliable payment system. It may also be interpreted as
a geographical representation of BSP’s equal concern for
the impact of its policies and programs on all Filipinos,
whether they are in Luzon, Visayas or Mindanao.
Colors
1. The blue background signifies stability.
2. The stars are rendered in gold to symbolize wisdom,
wealth, idealism, and high quality.
3. The white color of the eagle and the text for BSP
represents purity, neutrality, and mental clarity.
Font or Type Face non-serif, bold for “BANGKO SENTRAL NG
Font or Type Face non-serif, bold for “BANGKO SENTRAL NG
PILIPINAS” to suggest solidity, strength, and stability. The use of non-
serif fonts characterized by clean lines portrays the no-nonsense
professional manner of doing business at the BSP.
Shape: Round shape to symbolize the continuing and unending quest
to become an excellent monetary authority committed to improve the
quality of life of Filipinos. This round shape is also evocative of our
coins, the basic units of our currency
BSP Security Plant Complex – is responsible for the production of the
Philippine currency. Its establishment enables the BSP to have control
of the supply, security and quality of the Philippine currency.
Core Values of BSP
1.Excellence 2.Patriotism 3.Integrity 4.Solidarity 5.Accountability
FUNCTIONS OF BSP
- Under the New Central Bank Act of 1993, the BSP
performs the following functions, all of which relate to its status as the
Republic’s central monetary authority.
1.Liquidity Management – The BSP formulates and implements
monetary policy aimed at influencing money supply consistent with its
primary objective to maintain price stability.
2.Currency Issue – The BSP has the exclusive power to issue the
national currency. 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.
3.Lender of last Resort – The BSP extends discounts, loans, and
advances to banking institutions for liquidity purposes.
4.Determination of Exchange Rate POLICY – The BSP determines the
exchange rate policy of the Philippines. Currently, the BSP adheres to
a market-oriented foreign exchange rate policy such that the role of
BSP is principally to ensure orderly conditions in the market.
ORGANIZATION of the BANGKO SENTRAL
The basic structure of the Bangko Sentral includes:
1.The Monetary Board which exercises the powers and functions of the
BSP, such as conduct of monetary policy and supervision of the
financial system. The policy-making body of the bank. It is headed by
the Governor who is concurrently the Chairman of the Board with five
full-time members from the private sector and one member from the
cabinet.
2.The Monetary Stability Sector which takes charge of the formulation
and implementation of the BSP’s monetary policy, including serving the
banking needs of all banks through accepting deposits, servicing
withdrawals, and extending credit through the rediscounting facility.
3.The Supervision and examination Sector which enforces and
monitors compliance to banking laws to promote a sound and healthy
banking system, and
4.The Resource Management Sector which serves as the human,
financial and physical resource needs of the BSP
Three Pillars of Central Banking
1.Price Stability – BSP manage inflation and price fluctuations for
conducive balanced and sustainable growth of the economy.
2.Financial Stability – BSP ensures banks compliance with prudential
rules and regulations. It ensures that banks conduct business in a safe
and sound manner.
3.Efficient Payment and Settlement System – this enables people to
make safe, timely and accurate settlements of financial transactions.
• Special Security paper – use to print the bank notes. It has security
fibers with different watermark and security threads specific to
denominations. •
• Offset Printing – a printing process wherein there is 15 to 20 colors
are printed in one pass.
• Intaglio Printing – it is also called direct plate printing. It gives the
details in the money an embossed effect.
• 10 months – number of months in producing the Philippine bank
notes from ordering of materials to shipping to the volt of BSP.
FINANCIAL INNOVATION AND THE EVOLUTION OF THE
BANKING INDUSTRY - It is the act of creating new financial
instruments as well as new financial technologies, institutions, and
markets.
3 categories of innovation : Institutional, Product, Process
What is Science?
2.Middle Ages (Dark Ages) 1000 yrs. – 1450
1. Science is an empirical field.
- Medieval Period, Fall of Roman Empire)
- “empeirikos”, Greek word means experienced; uses senses and
- Feudalism – Lord and peasants
experiences.
2. Science is a systematic field; systematized body of knowledge
Different Inventions from Different Countries:
covering general truths and facts.
• EUROPE – horse collar, clock, magnetic compass, watermill
- uses scientific methods (observation, question, hypothesis, plan, collect
• CHINA – gunpowder, magnetic compass, wheel barrow,
data, analyze, conclusion, and communicate.
seismoscope, movable type printing, chinese paper (invented in
3. Science is our most effective way of understanding the natural world;
140 BC – widely known in 105 AD), acupuncture, cannon
covers general truths and facts.
• INDIA – calendar (12 months in a year), square root, linear
- proper allocation of the scientific method, observe
equations, Ayurveda or Ayurvedic medicine (good health)
4. Science is a total societal enterprise
- achieves social impact alongside a financial return. (Impact Investing)
• Christopher Columbus – Italian master navigator, completed four
• Traditional Charity (social value); for free, charitable
voyages across Atlantic Ocean.
• Traditional Business (financial value); for profit.
• First civilizations in America – Meso-American region including
What is Technology? Guatemala, Honduras, Belize, and El Salvador: Maya, Aztec, Inca
.1 Technology is an applied Science.
A.) Maya – pottery, agriculture, hieroglyphs, Math, calendar;
- scientific progress
- Pymarids made up of limestones; artistic
2. Technology is a body of knowledge and skills by which we can control - Cocoa beans as monetary unit
and modify the world. - Mayan Solar Calendar (end of the world, 2012)
- collection of variable information about a certain phenomenon. B.) Aztec – astronomical observations in stones
3. Technology is a total societal enterprise. - farming (cutting trees and burning fields)
- social welfare or benefit of the community. - human sacrifices, use of obsidian blades
SOCIETY – a group of people with common interests, traditions, purpose, C.) Inca – more advanced farming method (terraces)
and/or activity. - animal’s skin for clothing

SCIENCE (brain) 3. Scientific Revolution

Seeks to improve / \ informs - drastic changes in scientific thought; use of philosophical than
/ \ empirical.
Demands more / \ demands more - dominated Science in 20,000 years ago.
/ \ - printing machine; publishing works to spread info.
(nation/ SOCIETY ---- > < --- TECHNOLOGY (skills)
Community) benefits makes life Science
from easier Produce / \ Benefits
STS Triad: / \
Humans - Society
Science aims to improve Society, as the Society improves it’ll crave for • Benefit individual human
further improvement and so demands more from Science. Society also
benefits from Technology because Technology makes life easier for Creativity --- Science Ideas
Society. As new technology is created, Society will enjoy benefits from it, Curiosity --- Scientists --- Science Discoveries
but as some problems arises, some Technology will need to be improved Critical Thinking -- | Technology
and so Technology will knock to Science to demand because Science • Passion to know
informs Technology. There are also some other facts that come into play. • Passion to discover
The influence of government, the capitalists, and other sectors in the
Society makes it complicated. Nicolaus Copernicus
• Geocentrism – Alexandria (Earth is the center)
EMERGENCE OF STS: • Copernican Heliocentrism – Sun is the center
Johannes Kepler
- interwar period continued til the start of Cold War.
• Law of Planetary Motion – Earth revolves around the Sun in
- best-known product of this interest: Thomas Kuhn (1962, The Structure
elliptical and not circular.
of Scientific Revolution)
Isaac Newton (Physics)
- UP Diliman, then 2013 CHED enlisted STS.
• 3 laws of motion
- it tracks the history of disciplines, the dynamics of Science as a social
A.) Law of Interaction – for everyone there is an equal and opposite
Institution and the philosophical basis for scientific knowledge.
reaction.
B.) Law of Inertia – object at rest will remain at rest or in motion
STS: HISTORICAL ANTECEDENTS OF THE WORLD
unless acted upon by force.
The Human Condition Before Common Era
C.) Law of Acceleration – acceleration is produced when force acts
- Technology can be discovered by chance.
upon on a mass.
- Discover/ Technological Advancement doesn’t always spring from
Charles Darwin (Biology)
Science.
- Theory of Evolution : Book (On the Origin of Species)
- 2.5 mya – 1200 BC.; Homo erectus have been using fire to cook.
- group of animals evolve from one or few ancestors.
- instinct to survive allowed them to create things
Sigmund Freud
“ The primal need to survive paved way for the invention of several
- Structural Theory of Personality (id – desire, ego – mediates,
developments.
superego – what is right/wrong)
“It is difficult to pinpoint where technology is said to have started.”
3 Archeological Period
1. Stone Age (2.5 mya – 3000 BC) 4. Industrial Revolution
- marked hy the inventions and use of stones - started in Great Britain, 18th century
- practically difficult for our ancestors to live because resources are not - transform rural to industrialized and urbanized
abundant; living in the wild. Information – knowledge from investigation/observation
- little to no written accounts making it hard to contemplate • Gutenberg Revolution
- cave drawings, unearthed artifacts - 1st European successfully used movable type printing
A.) Paleolithic Period – paleo (old) lithic (lithos-rock) (Johannes Gutenberg), first book: Gutenberg’s Bible (1456),
- no permanent houses (pit houses), The Venus (Ivory), fur clothing, press era called Incunabula (cradle or birthplace)
ornaments, hunting tools. • Post-Gutenberg Revolution
B.) Mesolithic Period – End of the Last Ice Age - use of internet, Worldwide web (www), ease and convenience
- extinction of large mammals, sea level rises. 5. Information Age
- microliths (small stones) - began 1970’s until today
C.) Neolithic Period – ancient human switches from hunters to food - Digital, New Media, Computer Age
production.
2. Bronze Age (2.5 mya – 3000 BC) Rise of the Digital Age
- ores (naturally occurring minerals) - born of computer out of urgent necessity after 2nd World War to
- birth of smelting (Sumerians and Mesopotamia) face challenges of Nazism through innovation.
- 88% Copper, 12% alloy (ex. Ox-drawn plow, wheel) - Charles Babbage: Analytical Engine (1830) 1st computer
- organized government, law, religion (Pyramids are created)
3. Iron Age (1500 BC – 500 BC) – more precious than gold.
- first smelted in ore in South Caucasus.
 B.) Economy
STS: HISTORICAL ANTECEDENTS IN THE PHILIPPINES - Progressive economy; our country is endowed with abundant natural
resources, only to be traded free of tax to the United States during this
1.) Pre-Colonial Period time. This halted our country’s industrialization.
A.)Culture and Traditions
- Animism is the belief that various things possess distinctive spiritual 4. COMMONWEALTH PERIOD
qualities; diwata, Bathala, Bathaluman. - start of political independence
- Superstitions are related to natural phenomenon like rain. - independent nation, but the goal in achieving the economic self-
B.)Writing System reliance isn’t achieved because Americans are in control this time and
- Baybayin was the early Filipino script that they used. Japanese troops came to cause chaos.
C.)Social Organization - several government departments: National Economic Council or the
- Barangays are a number of geographically scattered, self-sufficient, now National Economic and Development Authority, National Power
autonomous communities present all over the Archipelago long before the Corporation, and National Abaca and other Fibers corporation, the now
Spaniards came. Philippine Fiber Industry Development Authority.
D.)Craftsmanship
- For about 40,000 years, they made simple tools or weapons of stone 5. PERIOD SINCE INDEPENDENCE
flakes, stone tools, pottery, weapons - Gave birth on DepEd and DOST
- Settlements in Sulu, Mindanao (Zamboanga, and Davao), Negros, DOST intervention’s main goals are as follows:
Samar, And Luzon (Batangas, Laguna, Rizal, Bulacan and the Cagayan) • To meet the increasing demands for intervention of science and
-Adzes ornaments of seashells and pottery of various designs. Metal tools technology in national development.
and implements – copper, gold, bronze and, later, iron. • Pursuing the local capability for technological self-reliance
- Excavation, Ore smelting and refining. • Encouraging greater private sector participation in S & T Development.
E.)Transportation
- Build boats, Spanish: refined warship (caracoa). Existing Programs Supported by the Philippine Government
F.)Agriculture - scholarship
- Crops such as rice, cotton, and other vegetables. They were also able to - K-12 programs
domesticate swine, goats, and fowls. Cultivated fields to terraces. - Balik Scientist Program
G.)Settlement - Science schools
- Coastal areas settlements: foreign trade and cultural contacts, such as - researches
Manila, Mindoro, Cebu, Southern Mindanao and Sulu, seemed to have
attained a more sophisticated technology. Science Revolution
- Interior and mountain settlements: hunters. > Internal Influences – survival, culture, economic, activities
H.)Tools and Products > External Influences – foreign colonizers, trades w/ foreign countries,
- Filipinos were raising swine, goats and fowls, making wine, vinegar and int’l economic demands
salt, weaving cloth, producing beeswax, honey, and growing rice,
vegetables and cotton.
- The Filipinos were also mining gold in such places as Panay, Mindoro STS: THE PHILIPPINE SCIENCE AND TECHNOLOGY AGENDA AND
and Bicol. DEVELOPMENT PROGRAMS PHIL. GOVERNMENT S&T AGENDA
-Some tools found were copper (for table display), porcelain jars (for
storage of food and other materials), iron (used in warfare called 1.)National Integrated Basic Research Agenda
Lantaka), and handwoven blankets, in Raja Sulayman’s house. A.) Water Security – TUBIG (Tubig ay Buhayin at Ingatan) Program
B.) Food and Nutrition – SAPAT (Saganang Pagkain Para sa Lahat)
2.) Spanish Regime Program
- Christianity C.)Health Sufficiency – LIKAS (Likas Yaman sa Kalusugan) Program
A.) Education D.)Clean Energy – ALERT (Alternative Energy Research Trends)
- formal education Program
- schools established by missionaries and churches for religious orders; E.)Sustainable Energy – SAKLAW (Saklolo sa Lawa) Program
limited for elites. F.)Inclusive Nation-building – ATIN (Ang Tinig Natin) Program
- Colegio de San Ildefonso (1595) in Cebu, Manila: Colegio de San 2.)Health Research and Development Agenda Diagnostics
Ignacio (1595), Colegio de San Jose (1601), Ateneo de Manila (1859); A.)Drug Discovery & Dev.
Jesuits B.)Functional Foods
- The Dominicans: Colegio de San Juan de Letran (1640) in Manila. C.)Hospital Equipment
- Studying abroad like Jose Rizal (optalmology-Madrid), Juan Luna D.)Health InfoTech
(engineering-Belgium), Graciano Apacible (medicine-Madrid), Jose E.)Dengue
Alejandrino (pharmacy-Madrid) to study medicinal courses. F.)Nutrition
B.) Reduccion System G.)Disaster Risk Reduction
- A strategy in which far-flung, scattered barangays were grouped into H.)Climate Change Adapt.
fewer but larger and more compact towns within the area of church bells. I.)Omic Technologies
- re-organized barangays; cabeza de barangay (datus) 3.)Agriculture Aquatic and Natural Resources
- From among their ranks, the head of the town, the Gobernadorcillo or A.)Crops R&D Agenda
Capitan Municipal, was elected. Furthermore, only the members of their B.)Livestock R&D Agenda
class could elect the Gobernadorcillo. C )Aquatic R&D Agenda
C.) Agriculture D.)Forestry R&D Agenda
- Manila School of Agriculture (1887) E.)Natural Resources and Environment
- Little development in agriculture and mining, it was totally neglected F.)Climate Change
during the Galleon Trade (Manila-Acapulco) leading to the decline of G.)Technology Transfer
native handicrafts and industries in the Philippines. H.)Socio-economic and Policies
4.)Industry, Energy, and Emerging Technology - The Phil.
Council for Industry, Energy, and Emerging Technology Research and
3.) American Regime
Development is responsible for the implementation of research priorities
- Thomasites
of this agenda.
A.) Agriculture
A.)Food Security
- remained an exporter to U.S.
B.)Countryside Development
- marked the rapid advancement of science and technology in the Phil.
C.)Competitive Industry
B.) Education
D.)Delivery of Social Services
- scholarship, higher ed. In Science and Engineering, researches, all have
E.)Intelligent Transportation Solutions
given the right to education.
F.)Renewable Energy
- Philippine Normal University and other private schools, demand for
G.)Security
professional education increased in UP
5.)Disaster Risk Reduction and Climate Change Adaptation
- Private School Act (Act No. 2076) was established, recognizing the
A.)Observation and monitoring networks
increasing number of private schools as educational and not commercial
B.)Technology Development
institutions.
C.)Risk Assessments
- Likewise, for promotion of scientific research in the country, the
D.)Climate Change Mitigation
Americans established the NRCP or the National Research Council of the
E.)Modeling and Simulation
Philippine Islands in 1933.
F.)Warning and Risk Communication
• Education was one of the main tools the Americans primarily utilized to
G.)Disaster Risk Management
establish the development of science and technology in the Philippines.
H.)Policy Research
 CONTEMPORARY ISSUES AFFECTING FINANCIAL INSTITUTION
Agencies Responsible for the Implementation of the Harmonized
R&D Agenda 2017-2022: DOST, NCRP, PCHRP, DOST-PCIEERD,
PHIVOLCS, PAGASA, DOAT-PCAARRD
Government Policies Pertaining to Science and Technology: 1. BSP on Money Supply and Deposit Expansion.
1. Republic Act 10055 – known as the Philippine Technology
a) Money Supply – The total supply of money in circulation in a given
Transfer Act of 2009 which aims to provide a framework and support
country’s economy at a given time.
system for the ownership, management, use and commercialization
of intellectual property resulting from research and development b) Deposit Expansion – Change in the money supply as a result of
funded by the government. an increase in bank reserves.
2. Republic Act 2067 – known as Science Act of 1958 which focuses
on the integration, coordination, and intensification of scientific and 2.Monetary Board – The powers and function of Bangko Sentral are
technological research and development and fostering inventions, to exercised by its Monetary Board, which has seven members
provide funds and for other purposes. appointed by the President of the Philippines.

STS: THE PHILIPPINE SCIENCE EDUCATION
The concept of science education:
Pedagogy – method and practice of teaching or learning, especially
as an academic subject or theoretical concept.
Basic education – learn important concepts and facts that are related
to our everyday lives.
• processing skills • critical thinking skills • life skills
- uses of senses - encourage to pursue their love of knowledge
- passion to innovate things - curiosity to study nature
- creativity
R.A 7722 (1994) – DepEd oversees the implementation of the school
curricula and school programs in both elementary and high school
levels.
- separate entity CHEd to oversee the system of higher education in
our country and to formulate policies, plans, and programs for the
development of public and private higher education.
3.Monetary Policy – measures or actions taken by the Central bank
to influence the general price level and the level of liquidity in the
economy.
KEY FACTORS ON CONTEMPORARY ISSUES AFFECTING
FINANCIAL INSTITUTIONS
1.Financial Stability – is defined in terms of its ability to facilitate and
enhance economic processes, manage risks, and absorb shocks.
2.Regulator – an official or body that monitors the behavior of
companies and the level of competition in particular markets.
3.Transparency – the full, accurate, and timely disclosure of
information.
4.Deregulation – is the removal or simplification of government rules
and regulations that constrain the operation of market forces.

1. Science as one of the focus of K-12 programs.
2. Presents importance of science and technology.
3. Provides learners with a repertoire of competencies important in
the world and in knowledge-based society.
Philippine Science High School
- specialized public high school organized by DOST.
- science curriculum – more advanced math and science subjects.
Education System
Teacher-Student Ratio
Lack of facilities
Lack of teaching materials and equipment
Tertiary Education
- it deals with developing students understanding and appreciation of
science ideas and works. Application of ideas and concepts made by
previous scientists.
- focuses on preparation of science teachers, scientists, engineers,
and other professionals. State offers scholarships to encourage more
student to pursue science courses.
Security Features: (1) embossed prints, (2) serial number, (3)
security fibers, (4) watermark, (5) see-through mark, (6) concealed
value, (7) security thread, (8) optically variable device, (9) optically
variable ink (10) tactile Mark
Money – can be defined as an object that is readily accepted from
anybody as full payment for purchase of a certain commodity or for
service rendered by an individual.
Barter System – Barter System is the direct exchange for goods to
goods, services for services, goods for services and services for
goods and it is the earliest system of trading.
Characteristics of Money
1. Durability – means that the item must be able to withstand being
used repeatedly.
2. Portability – means that individuals are able to carry money with
them and transfer it easily to other individuals.

STS: SELECTED INDIGENOUS SCIENCE AND TECHNOLOGIES 3. Divisibility – means that the money can easily be divided into
smaller units of value.
• Indigenous science is a product of indigenous knowledge
perfected by people through life experiences. It is the use of science 4. Uniformity – means that all versions of the same denomination of
process skills guided by community culture and values composed of currency must have the same purchasing power.
traditional/indigenous; food preservation, transforming soils. 5. Limited Supply- means that restrictions on the amount of money in
• Indigenous knowledge is one that is embedded in the cultural circulation ensure the values remain relatively constant for the
traditions of regional, indigenous, or local communities. This currency.
knowledge system is passed on orally and is evident in their stories,
poems, and songs. These includes superstitious beliefs and
practices which may be a product of human imagination.
• Indigenous technologies are processes or products resulting from
studying.

Indigenous science. It is designed and fabricated based on the

culture, tradition and needs of people and which is adopted for use in
the environment of those people. While some indigenous sciences
and technologies are already obsolete, their importance lies in that
they helped early communities in understanding the natural
environment and in coping with their everyday lives.

Philippine Indigenous Technologies

1.) Yoyo by Pedro Flores – popularized 1920’s and reproduced in

November 1928.

2.) Medical Incubator – bamboo incubator in 1941 by Dr. Fe del

Mundo

3.) Erythromycin (antibiotic) by Dr. Abelardo Aguilar in 1949 (Iloilo

6.) Anti-cancer cream and mole remover (carcinoma) by Rolando
backyard) for bacterial infections, skin and respiratory tract. 1952
dela Cruz – “DeBcc” cream.
launched, Eli Lily Co. took credit.
7.) 16-bit microchip by Diosdado Banatao to make computers faster.
4.) Fish sauce by Ruperta David (1940). 1949 launched Tentay Food
(1981 – 10-bit microchip)
and Sauces Inc.

5.) Banana Catsup by food tech Maria Orosa y Ylagan, calamanai

juice, Soyalac and Darak.