Name: Sidayen, Jennifer H.

Section: BSBA FM-3C

Date: April 20, 2021

1. The section 9 of the New Central Bank Act specifies the disqualification of a Monetary Board
member. In your own words/understanding, kindly explain the said section. (10 pts)
- This section states that an aspiring to be a member or an already a member of Monetary Board
should not be am employee of any other bank. This was made to promote a high standard of
ethics in public services. It is good to know that there is an existing law that up-hold the integrity
of the government agencies being trust by the people. This help enhanced the behavior of our
public officials and employees because there are norms of behavior that shall strictly observed
by them to the discharge and execution of their official function and duties. And it is mandated
by the law that there shall always be justness and fairness in giving services to the people
because public officials and employees were trusted by the public.

2. Explain the importance of governor of BSP. (10 pts)

- The governor of BSP is the powerful and chairman of the monetary board, which exercises the
powers and functions of the BSP. He is the one who prepare the agenda for the meetings of the
Monetary Board and to submit for the consideration of the Board the policies and measures that
he believes to be necessary to carry out the purposes and provisions. The governor direct and
supervise the operations and internal administration of the Bangko Sentral, appoint and fix the
remunerations and other emoluments of personal below the rank of a department head in
accordance with the position and compensation plans approved by the Monetary Board. He is
also assign to sign contracts entered into by the Bangko Sentral, notes and securities issued by
the Bangko Sentral, all reports, balance sheets, profit and loss statements, correspondence, and
other documents of Bangko Sentral.