Bangko Sentral ng Pilinipas (Central Bank of Philippines)

By: EconomyWatch   Date: 9 September 2010

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The Bangko Sentral ng Pilinipas (BSP) is the central bank of Philippines. The bank was founded in the year 1993 on the basis of Philippine Constitution and the New Central Bank Act of 1993. Since then the bank has been operating with an objective of becoming a world-class monetary authority with a globally competitive economic and financial system.

Important functions of the bank is as follows:

  • Issues National Currency
  • Implements the monetary policies
  • Supervises the activities of the commercial banks and other financial institutions
  • Manages the foreign exchange reserves
  • Determines various policy frameworks
  • Acts as a banker and financial advisor to the Government
  • Maintains the liquidity properly

With regards to the functioning, the monetary board is vested different powers to execute. The chairman of the board is the bank's Governor.

The Address and Contact details of the bank is as follows:

Bangko Sentral ng Pilipinas

Address:
A. Mabini Corner P.Ocampo Str.
Streets Malate Manila 1004 PHILIPPINES
Phone No.: ++63-2-524 70 11
Fax: ++63-2-536 07 34
Website: http://www.bsp.gov.ph


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