BSP Quiz

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Questions and Answers

Which bank took over from the Central Bank of the Philippines as the country's central monetary authority?

  • Bangko Sentral ng Pilipinas (correct)
  • Bank of the Philippines
  • National Government Bank
  • New Central Bank

What is the primary role of the BSP?

  • Establishing a safe and efficient payments system
  • Providing fiscal and administrative autonomy
  • Promoting and maintaining price stability (correct)
  • Supporting a strong economy globally

When was the BSP established?

  • 3 July 1949
  • 3 January 1993
  • 3 July 1993 (correct)
  • 3 January 1949

Which government document established the Bangko Sentral ng Pilipinas (BSP)?

<p>The New Central Bank Act of 1993 (D)</p> Signup and view all the answers

What is the main objective of the BSP?

<p>To promote and maintain price stability (B)</p> Signup and view all the answers

What is the vision of the BSP?

<p>To support a strong economy and promote a high quality of life for Filipinos (D)</p> Signup and view all the answers

Which government document established the Bangko Sentral ng Pilipinas (BSP)?

<p>The New Central Bank Act of 1993 (B)</p> Signup and view all the answers

What is the primary role of the BSP?

<p>To promote and maintain price stability (C)</p> Signup and view all the answers

What is the BSP's vision?

<p>To support sustainable and inclusive growth of the economy (B)</p> Signup and view all the answers

Flashcards

BSP's primary role

Promoting and maintaining price stability in the Philippines.

BSP's main objective

Supporting a strong Philippine economy and a good quality of life.

BSP establishment date

3 July 1993.

BSP establishing law

The New Central Bank Act of 1993.

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BSP's vision

Supporting sustainable and inclusive economic growth.

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Central Bank of the Philippines replacement

The Bangko Sentral ng Pilipinas (BSP).

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BSP's purpose

Promoting and maintaining stable prices

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BSP's vision (alternative)

Support a strong economy/high quality of life for Filipinos

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BSP establishment document

The New Central Bank Act of 1993

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Study Notes

Bangko Sentral ng Pilipinas (BSP)

  • The Bangko Sentral ng Pilipinas (BSP) took over from the Central Bank of the Philippines as the country's central monetary authority.

Establishment and Role

  • The Bangko Sentral ng Pilipinas (BSP) was established in 1993.
  • The primary role of the BSP is to maintain price stability and promote a stable financial system.
  • The BSP was established through Republic Act No. 7653.

Objectives and Vision

  • The main objective of the BSP is to maintain price stability and promote a stable financial system.
  • The vision of the BSP is to be a world-class monetary authority, promoting a strong and stable financial system.

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