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.

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

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

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

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

Central Bank Act) by President Elpidio Quirino.

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

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

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

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

The BSP mission is to be a world-class

monetary authority and a catalyst

for a globally competitive economy

and financial system that delivers a

high quality of life for all Filipinos.

The Bangko Central ng Pilipinas (BSP) was established to replace the CBP as the country’s central monetary authority.

Liquidity has the exclusive power to issue the national currency. All notes and coins issued by the BSP are fully guaranteed by the Government and are considered legal tender for all private and public debts.

Financial Supervision means that the BSP extends discounts, loans and advances to banking

institutions for liquidity purposes.

The Monetary Board exercises the powers and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system.