CENTRAL BANK OF THE PHILIPPINES
States President Franklin D. Roosevelt's
It was established on July 3, 1993, pursuant
to the provision to the Republic Act 7653 or
the New Central Bank Act of 1993 as
amended by Republic Act 11211 or the New
Central Act of 2019.
3 PILLARS OF CENTRAL BANKING
 Price Stability
 Financial Stability
 Efficient Payments and Settlements
System- enables people to make
safe, timely and accurate
settlements of financial transactions.
American era and World War II
history story
In 1900, the First Philippine Commission
passed Act No. 52, which placed all banks
under the Bureau of the Treasury and
authorizing the Insular Treasurer to
supervise and examine banks and all
banking activity. In 1929, the Department of
Finance, through the Bureau of Banking,
took over bank supervision.
By 1933, a group of Filipinos had
conceptualized a central bank for the
Philippine Islands.
It came up with the rudiments of a bill for
the establishment of a central bank after a
careful study of the economic provisions of
the Hare-Hawes-Cutting Act, which would
grant Philippine independence after 12
years, but reserving military and naval
bases for the United States and imposing
tariffs and quotas on Philippine exports.
However, the Hare-Hawes-Cutting Act
would be rejected by the Senate of the
Philippines at the urging of Commonwealth
President Manuel L. Quezon. This Senate
then advocated a new bill that won United
support, this would be the Tydings-
McDuffie Act, which would grant Philippine
independence on July 4, 1946,
Third Republic and martial law
Shortly after President Manuel Roxas
assumed office in 1946, he instructed then-
Finance Secretary Miguel Cuaderno, Sr. to
draw up a charter for a central bank.
The establishment of a monetary authority
became imperative a year later as a result
of the findings of the Joint Philippine-
American Finance Commission chaired by
Cuademo. The Commission, which studied
Philippine financial, monetary, and fiscal
problems in 1947. recommended a shift
from the dollar exchange standard to a
managed currency system. A central bank
was necessary to implement the proposed
shift to the new system.
Roxas then created the Central Bank
Council to prepare the charter of a
proposed monetary authority. It was
submitted to Congress in February 1948. By
June of the same year, the newly
proclaimed President Elpidio Quirino, who
succeeded President Roxas, affixed his
signature on Republic Act (RA) No. 265, the
Central Bank Act of 1948.
Present Time
In accordance with a provision in the 1987
Ramos signed Republic Act No. 7653,
otherwise known as the New Central Bank
Act,into law on June 14, 1993.
On the evening of September 26, 2012, a
Wednesday. the BSP website was hacked by
a group named Anonymous Philippines in a
protest against the recently passed
Cybercrime Prevention Act of 2012.
On April 23, 2013, The Asian Banker named
the BSP as the Best Macroeconomic
Regulator in the Asia-Pacific Region for
2013 in The Asian Banker Leadership
Achievement Awards in Jakarta, Indonesia.
The BSP was cited as a "good, strong, and
fair-minded regulator."
About a month later, the BSP was given the
country award by the Child and Youth
Finance International in its 2013
International Summit in Istanbul, Turkey, in
recognition of its initiative to integrate
financial education in the Philippine
elementary school curriculum.
ROLES AND RESPONSIBILITY
1. Liquidity management, by formulating
and implementing 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, by extending
discounts, loans and advances to banking
institutions for liquidity purposes,
4. Financial supervision, by supervising
banks and exercising regulatory powers
over non-bank institutions performing
quasi-banking functions,
5. Management of foreign currency
reserves, by maintaining sufficient
international reserves to meet any
foreseeable net demands for foreign
currencies in order to preserve the
international stability and convertibility of
the Philippine peso,
6. Determination of exchange rate policy,
by determining the exchange rate policy of
the Philippines. Currently, the BSP adheres
to a market-oriented foreign exchange rate
policy, and
7. Being the banker, financial advisor and
off ial depository of the Government, its
political subdivisions and instrumentalities
and GOCCs( Government Owned and
Controlled Corporation)
BSP Logo
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.
The Bangko Sentral ng Pilipinas ('Central
Bank of the Philippines'; commonly
abbreviated as BSP in both Filipino and
English) is the central bank of the
Philippines.
It was established on July 3, 1993, pursuant
to the provision of Republic Act 7653 or the
New Central Bank Act of 1993 as amended
by Republic Act 11211 or the New Central
Act of 2019.
Principal Elements: 1. The blue background signifies stability. 2.
The stars are rendered in gold to symbolize
1. The Philippine Eagle, our national bird, is wisdom, wealth, idealism, and high quality.
the world's largest eagle and is a symbol of
strength, clear vision and freedom, the 3. The white color of the eagle and the text
qualities we aspire for as a central bank. for BSP represents purity, neutrality, and
mental clarity.
2. The three stars represent the three pillars
of central banking: price stability, stable
banking system, and safe and reliable
payments 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.

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.

Colors