Podcast Beta
Questions and Answers
The banking system and early banking practices originated in the temples of Babylon around 2,000 B.C.
True
The Fugger Family were known as the greatest moneylenders of the 15th century.
False
Banko Enpaño-Filipino is currently known as Bank of the Philippines Islands.
True
The Chartered Bank of India, Australia, and China established branches in the Philippines in 1873.
Signup and view all the answers
The opening of the Suez Canal had no impact on the accessibility of European Markets.
Signup and view all the answers
The General Banking Act provided the rules of conduct for banking institutions regarding organization, management, and operation.
Signup and view all the answers
By the end of the Spanish Regime, there were five banks in operation in the Philippines.
Signup and view all the answers
The first private bank with genuine Filipino capital opened in 1916.
Signup and view all the answers
The Manila Clearing House was established in 1930 by a combination of domestic and international banks.
Signup and view all the answers
During the Japanese Era, both Filipino and Japanese-owned banks were permitted to operate.
Signup and view all the answers
Executive Order 96 invalidated all Japanese occupation deposits.
Signup and view all the answers
Republic Act No. 7653 governs Philippine Banking Today, focusing on establishing an independent monetary authority.
Signup and view all the answers
