PRELIMS - MONETARY POLICY AND CENTRAL BANKING

January 1948, President Manuel Roxas submitted to Congress a bill “Establishing the Central Bank of the Philippines

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• FALSE

In 1933, particular group of Filipinos were trying to conceptualize a central bank for the Philippines. Resulted from a careful understanding of the economic provisions of HARE HAWES CUTTING BILL.

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• FALSE

In March of 1929, The Bureau of Banking under the Department of Finance took over the task of banking supervision.

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• FALSE

3 January 1949, The Central Bank of the Philippines (CBP) was inaugurated and formally opened with Pres. Elpidio Quirino as the first governor.

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• FALSE

Manuel Roxas drafted a bill establishing of central bank who was the president that time.

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• FALSE

15 June 1948, the bill was signed into law as Republic Act No. 266 (The

Central Bank Act) by President Elpidio Quirino.

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• FALSE

In the year 1900, the First Philippine Commission passed Act No. 52 placing all banks under the Bureau of Treasury.

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• FALSE

Amando M. Tetangeo, Sr. is the current Governor of BSP.

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• FALSE

In 1939, a bill establishing a central bank was drafted by Secretary of Finance Manuel Roxas and approved by the Philippine Legislature.

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• FALSE

The Central Bank of the Philippines defines its powers in the administration of the monetary and banking system.

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• FALSE