Bangko Sentral ng Pilipinas

The BSP is the Philippines’ central bank. It was established on 3 July 1993 pursuant to the provisions
of the 1987 Philippine Constitution and the New Central Bank Act of 1993. Its forerunner is the Central
Bank of the Philippines which was founded on January 3, 1949. The Central Bank of the Philippines was
reorganized as the Bangko Sentral ng Pilipinas.

The BSP Main Complex - The BSP Main Complex in Manila houses the offices of the Governor, the
Monetary Board and the different operating departments/ offices. The Complex has several buildings,
namely: 5-Storey building, Multi-storey building, the EDPC building and the BSP Money Museum, which
showcases the Bank's collection of currencies.

The BSP Security Plant Complex - The Security Plant Complex which is located in Quezon City
houses a banknote printing plant, a securities printing plant, a mint and a gold refinery. The banknote
printing plant and the mint take care of producing currency notes and coins, respectively.

The BSP Regional Offices and Branches - The BSP has three regional offices performing cash
operations, cash administration, loans and rediscounting, bank supervision and gold buying operations.
These regional offices are in La Union, Cebu City and Davao City as well as 18 branches in key Cities and
Municipalities.

The BSP Vision - The BSP aims to be recognized globally as the monetary authority and primary
financial system supervisor that supports a strong economy and promotes a high quality of life for all
Filipinos.

The BSP Mission - To promote and maintain price stability, a strong financial system, and a safe and
efficient payments and settlements system conducive to a sustainable and inclusive growth of the
economy.

The main responsibilities and functions of the BSP, all of which have direct effects of everyone’s
daily lives are as follows:

 The BSP is tasked with promoting price stability. It uses its various policy tools to help keep
inflation low.
 The BSP is also the supervisor of all banks. It monitors and examines the operations of banks and
quasi-banks all over the country. It also regulates under special laws other financial institutions
such as Non-Stocks Savings and Loan Associations as well as pawnshops.
 The BSP is the only agency that can issue Philippine banknotes and coins.
 The BSP manages the country’s international reserves. It maintains adequate international
reserves to meet the economy’s needs. This also helps keep the Philippine peso stable.
 The BSP determines the country’s exchange rate policy. It follows a policy of allowing market
forces to determine the exchange rate.
 The BSP is the bank of banks as the lender of last resort. It can provide loans and assistance to
banks when necessary
 Finally, the BSP is the banker, financial adviser and official depository of the Philippine
government.
 The Bangko Sentral ng Pilipinas is primarily tasked with promoting low inflation and a healthy
financial system to carry out its mandate.

The BSP focuses on three areas or pillars:

 Price stability – entails keeping inflation low to promote economic efficiency and improve the
well-being of Filipinos.
 Financial stability – ensures banks’ compliance with Prudential Rules and regulation. It ensures
that bank conduct business in a safe and sound manner
 Efficient Payments and Settlements System – enables people to make safe, timely and accurate
settlements of financial transactions.