What does BSP mean in GOVERNMENTAL
Bangko Sentral ng Pilipinas (BSP) is the central monetary authority of the Philippines. It was established on July 3, 1993, pursuant to the provisions of Republic Act 7653 or The New Central Bank Act of 1993. BSP is responsible for providing policy directions in the areas of money, banking and credit. It is also in-charge of the supervision and regulation of banks and other financial institutions throughout the country.
BSP meaning in Governmental in Governmental
BSP mostly used in an acronym Governmental in Category Governmental that means Bangko Sentral ng Pilipinas
Shorthand: BSP,
Full Form: Bangko Sentral ng Pilipinas
For more information of "Bangko Sentral ng Pilipinas", see the section below.
Essential Questions and Answers on Bangko Sentral ng Pilipinas in "GOVERNMENTAL»GOVERNMENTAL"
What is BSP?
BSP stands for Bangko Sentral ng Pilipinas which is the central monetary authority of the Philippines, established on July 3, 1993, pursuant to the provisions of Republic Act 7653 or The New Central Bank Act of 1993.
What does BSP do?
BSP is responsible for providing policy directions in the areas of money, banking and credit. It is also in-charge with supervising and regulating banks and other financial institutions within the Philippines.
How was BSP established?
It was established on July 3, 1993 through Republic Act 7653 or The New Central Bank Act of 1993.
What are some services offered by BSP?
Among its services are maintaining price stability conducive to balanced economic growth; issuing legal tender currency; safeguarding price stability; ensuring an efficient payments system; licensing non-bank financial institutions; regulating foreign exchange operations; setting prudential standards; conducting research and statistics gathering; among others.
Who heads BSP?
The current Governor of BSP since July 2, 2019 is Benjamin Diokno who serves as a member ex officio by virtue of his position as Secretary of Budget and Management. Prior to him were Amando M Tetangco Jr (2005-2017) and Nestor Espenilla Jr (2017-2019).
Final Words:
Through its mandate from Republic Act 7653 or The New Central Bank Act of 1993, Bangko Sentral ng Pilipinas has been serving as banking regulator for over twenty five years now with its main goal being financial stability through central monetary authority that oversees many aspects such as policy direction in money, banking credit, supervision & regulation over banking & financial institutions along with many more services.
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