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The Bangko Sentral ng Pilipinas (lit. '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 as amended by ...
On June 23, 2023, President Bongbong Marcos appointed Eli M. Remolona, Jr. as the seventh Governor of the Bangko Sentral ng Pilipinas, replacing Felipe Medalla. [1] Medalla had shared a six-year term with Benjamin Diokno, who was subsequently appointed as Secretary of Finance. [2] and Nestor Espenilla, Jr., who died while in office.
Monetary policy of the Philippines. In the Philippines, monetary policy is the way the central bank, the Bangko Sentral ng Pilipinas, controls the supply and availability of money, the cost of money, and the rate of interest. With fiscal policy (government spending and taxes), monetary policy allows the government to influence the economy ...
The Development Bank of the Philippines (DBP) is a state-owned development bank headquartered in Makati, Philippines. It is primarily tasked to provide banking services to cater to the needs of agricultural and industrial enterprises. [4] It has 146 branches including 14 branch lite units. [5]
Signature. Benjamin Estoista Diokno (born March 31, 1948) is a Filipino economist who currently serves as one of the six members of the Monetary Board of the Bangko Sentral ng Pilipinas, which conducts the country's monetary policy and supervises its financial system. [3][4] Diokno previously served as Secretary of Budget and Management under ...
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.
The council is composed of the governor of the Bangko Sentral ng Pilipinas (BSP) as chairman, and the commissioner of the Insurance Commission(Philippines) (IC) and the chairperson of the Securities and Exchange Commission (SEC) as members. It acts unanimously in the discharge of its functions. [2]
The primary functions of the NIC are in the formulation and development of the National Innovation Agenda and Strategy Document (NIASD), the management of the Innovation Fund, the oversight over Innovation Credit and Financing programs through the Bangko Sentral ng Pilipinas, and in monitoring the Global Innovation Index (GII) ranking of the ...