About the Bangko Sentral ng Pilipinas

The BSP is responsible for promoting price stability, supervising banks and other financial institutions like non-stock savings and loan associations and pawn shops, issuing Philippine banknotes and coins, managing international reserves to keep the Peso stable, determining the country's exchange rate policy, and acting as the bank of banks and the lender of last resort. It also serves as the banker, financial advisor, and official depository of the Philippine government.

To fulfill its mandate of promoting low inflation and a healthy financial system, the BSP focuses on three pillars: price stability (keeping inflation low), financial stability (ensuring banks comply with rules and operate safely), and an efficient payments and settlement system (enabling safe and timely financial transactions).

The BSP is headed by the BSP Governor, who also chairs the Monetary Board, the policy-making body. The board includes six other members, five from the private sector and one from the cabinet. The organization also has three Deputy Governors overseeing monetary stability, supervision and examination, and resource management, along with key departments and offices. The BSP has a security plant complex for minting coins, printing banknotes, and refining gold, three regional offices, and 18 branches.

Beyond its regular tasks, the BSP is committed to various advocacy programs. These programs aim to educate Filipinos on financial products and the economy, help OFWs achieve financial freedom, assist micro-borrowers in starting businesses, engage school children and future entrepreneurs, and provide support to the less fortunate and those needing financial assistance. The BSP strives to provide a solid anchor for the economy and leadership through changing times.

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Philippines, reorganized in 1993 from its predecessor, the Central Bank of the Philippines, founded in 1949.