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Bangko Sentral ng Pilipinas (BSP)

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was established on July 3, 1993 pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. It has since then functioned as the country's central monetary authority that enjoys fiscal and administrative autonomy from the national government.

Under the New Central Bank Act, the BSP performs functions such as liquidity management, currency issue, lender of last resort, financial supervision, management of foreign currency reserves, and determination of exchange rate policy. It also acts as the banker, financial advisor, and official depository of the government, its political subdivisions and instrumentalities, and government-owned and -controlled corporations.

Currently, the BSP provides policy directions in the areas of money, banking, and credit. It supervises operations of banks and exercises regulatory powers over nonbank financial institutions with quasi-banking functions.

Know more about BSP here. Click here to access BSP materials in the SERP-P database.