The Bangko Sentral ng Pilipinas (BSP) performs several key functions as the central monetary authority of the Philippines. These include managing liquidity and formulating monetary policy, issuing the national currency, acting as the lender of last resort by providing loans and discounts to banks, and supervising banks while regulating non-bank financial institutions.
The Bangko Sentral ng Pilipinas (BSP) performs several key functions as the central monetary authority of the Philippines. These include managing liquidity and formulating monetary policy, issuing the national currency, acting as the lender of last resort by providing loans and discounts to banks, and supervising banks while regulating non-bank financial institutions.
The Bangko Sentral ng Pilipinas (BSP) performs several key functions as the central monetary authority of the Philippines. These include managing liquidity and formulating monetary policy, issuing the national currency, acting as the lender of last resort by providing loans and discounts to banks, and supervising banks while regulating non-bank financial institutions.
Under the New Central Bank Act of 1993, the BSP performs the following functions, all of which relate to its status as the Republic’s central monetary authority. 2nd Slide Liquidity Management. The BSP formulates and implements monetary policy. 3rd Slide Currency issue. The BSP has the exclusive power to issue the national currency. 4th slide Lender of last resort. The BSP extends discounts, loans and advances to banking institutions for liquidity purposes. 5th slide Financial Supervision.
The BSP supervises banks and exercises regulatory powers over non-bank institutions performing quasi-banking functions.