Exam (elaborations)
Bangko Sentral ng Pilipinas
- Module
- TEAS Practice.
- Institution
- TEAS Practice.
Bangko Sentral ng Pilipinas
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Bangko Sentral ng Pilipinascentral monetary authority - ANS-The BSP took over from the Central Bank of
Philippines, which was established on January 3, 1949 as the country's
_____________.
Commonwealth period - ANS-During the ________________ (1935-1941), the
discussion about a Philippine central bank that would promote price stability and
economic growth continued.
economy and financial system - ANS-The BSP aims to be a world-class monetary
authority and a catalyst for a globally competitive ___________ that delivers a high
quality of life for all Filipinos
Functions of the BSP - ANS-(1) Liquidity Management
(2) Currency issue
(3) Lender of last resort
(4) Financial Supervision
(5) Management of foreign currency reserves
(6) Determination of exchange rate policy
(7) Other Activities
Hon. Miguel Cuaderno, Sr. - ANS-The Central Bank of the Philippines (CBP) was
inaugurated and formally opened with _____________ as the first governor on January
3, 1949.
national currency - ANS-The BSP also aims to promote and preserve monetary stability
and the convertibility of the ____________.
New Central Bank Act - ANS-BSP was established on July 3, 1993 pursuant to the
provisions of the 1987 Philippine Constitution and the _____________ of 1993.
President Elpidio Quirino - ANS-The bill was signed into law as Republic Act No. 265
(The Central Bank Act) by _________________ on June 15, 1948.
price stability - ANS-BSP is committed to promote and maintain __________ and
provide proactive leadership in bringing about a strong financial system conducive to a
balanced and sustainable growth of the economy.
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