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