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' 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 January 3, 1949, and then re-established on July 3, 1993 pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993 [ 2 ] as amended by Republic Act 11211 or the New ...
List of initialisms, acronyms ("a word made from parts of the full name's words, pronounceable"), and other abbreviations used by the government and the military of the Philippines. Note that this list is intended to be specific to the Philippine government and military—other nations will have their own acronyms.
The BSP Charter The New Central Bank Act (RA11211) Inaugural holder: Miguel Cuaderno Sr. (as Governor of the Central Bank) Gabriel Singson (as Governor of the Bangko Sentral) Formation: January 3, 1949 (Central Bank) July 3, 1993 (Bangko Sentral) Website: bsp.gov.ph
The BSP's payment increases reserve balances and expands the monetary supply in the Philippines. On the other hand, in Reverse Repurchase, the government acts as the seller, and works to decrease the liquidity of money. These transactions usually have maturities ranging from overnight to one month. Outright Transactions
On December 7, 2022, the 2020 BSP logo is now used on 20, 50, 100, 500, and 1,000-peso (non-polymer version) bills which replaced the 2010 logo that has been in use since the series' release to the public on December 16, 2010, upon the release of banknotes bearing the signatures of President Bongbong Marcos and BSP Governor Felipe Medalla.
The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks.As of September 30, 2022, [1] there were 45 universal and commercial banks, [2] 44 savings banks, [3] 400 rural and cooperative banks, [4] 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ...
Eli M. Remolona Jr. (born 1952) is a Filipino economist serving as the governor of the Bangko Sentral ng Pilipinas (BSP), the central monetary authority of the Philippines, and the ex officio chairman of the Anti-Money Laundering Council, the central anti-money laundering/counter-terrorism financing authority of the Philippines, under the Bongbong Marcos administration since July 3, 2023.
QR Ph (officially the National QR Code Standard) is the standardized quick-response code system adopted in the Philippines, which is based on the Europay-Mastercard-VISA (EMV) standard. It serves as a swift and secure payment method for customers of both participating banks and non-bank electronic money issuers (EMI) in the country.