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Questions and Answers
When was the Bangko Sentral ng Pilipinas (BSP) established?
When was the Bangko Sentral ng Pilipinas (BSP) established?
- 1987
- July 3, 1993 (correct)
- January 3, 1949
- June 30, 2022
Who appoints the Governor of the Bangko Sentral ng Pilipinas (BSP)?
Who appoints the Governor of the Bangko Sentral ng Pilipinas (BSP)?
- The Supreme Court of the Philippines
- The President of the Philippines (correct)
- The Department of Finance
- The Congress of the Philippines
What is the primary responsibility of the Bangko Sentral ng Pilipinas (BSP)?
What is the primary responsibility of the Bangko Sentral ng Pilipinas (BSP)?
- To supervise all banks in the Philippines
- To issue bank notes and coins
- To manage the international reserves of the Philippines
- All of the above (correct)
What is the purpose of the Bangko Sentral ng Pilipinas (BSP) having fiscal and administrative autonomy from the national government?
What is the purpose of the Bangko Sentral ng Pilipinas (BSP) having fiscal and administrative autonomy from the national government?
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Which of the following is not a responsibility of the Bangko Sentral ng Pilipinas (BSP)?
Which of the following is not a responsibility of the Bangko Sentral ng Pilipinas (BSP)?
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Study Notes
Bangko Sentral ng Pilipinas (BSP) Overview
- Established on July 3, 1993, to serve as the central bank of the Philippines.
- The Governor of BSP is appointed by the President of the Philippines.
Primary Responsibilities
- The main responsibility includes formulating and implementing monetary policy to ensure price stability conducive to a balanced and sustainable economic growth.
Fiscal and Administrative Autonomy
- Fiscal and administrative autonomy allows BSP to effectively pursue monetary policy without political interference, ensuring independent decision-making.
Responsibilities Excluded from BSP
- Certain responsibilities, such as managing government funding or directly running government banks, do not fall under the purview of the BSP.
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