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The New Central Bank Act and the Bangko Sentral ng Pilipinas (BSP) Quiz

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The New Central Bank Act and the Bangko Sentral ng Pilipinas (BSP) Quiz

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Questions and Answers

Which act established the Bangko Sentral ng Pilipinas (BSP) as an independent monetary authority in the Philippines?

Republic Act No. 6543

Republic Act No. 7653 (correct)

Republic Act No. 9876

Republic Act No. 1234

What is the official name of the independent monetary authority in the Philippines?

Bangko Sentral ng Pilipinas (BSP) (correct)

Monetary Authority of the Philippines (MAP)

Central Bank of the Philippines (CBP)

Philippine Monetary Authority (PMA)

What is the common name of Republic Act No. 7653?

The New Central Bank Act (correct)

The Monetary Authority Act

The Financial Regulation Act

The Philippine Independence Act

Study Notes

Bangko Sentral ng Pilipinas (BSP)

The Bangko Sentral ng Pilipinas (BSP) was established as an independent monetary authority in the Philippines by an act of law.
The official name of the independent monetary authority in the Philippines is Bangko Sentral ng Pilipinas (BSP).
Republic Act No. 7653 is commonly referred to as the New Central Bank Act.
The New Central Bank Act established the Bangko Sentral ng Pilipinas (BSP) as the country's central monetary authority.

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Test your knowledge on the New Central Bank Act of the Philippines and its establishment of the Bangko Sentral ng Pilipinas (BSP) as an independent monetary authority.