Mission and Vision of the BSP

Mission:
BSP is committed to promote and maintain price stability and provide proactive leadership in
bringing about a strong financial system conductive to a balanced and sustainable growth of the
economy. Towards this end, it shall conduct sound monetary policy and effective supervision
over financial institutions under jurisdiction.
Vision:
The BSP aims to be the 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.

What do you know about the Bangko Sentral ng Pilipinas

The BSP in the Philippines' central bank. Its forerunner was Central Bank of the Philippines
(CBP), which was founded in 1949. 1993, the CBP ceased operation. The new BANGKO
SENTRAL NG PILIPINAS (BSP) was established by Congress pursuant to R.A 7653 or the
BSP CHARTER.
Its new logo, adopted in 2010 features the Philippine Eagle which symbolizes the BSP's
aspiration to soar toward becoming a word-class monetary authority. It has Three Stars
representing the three pillars of central banking.
To carry out its mandate, the BSP focuses on these Three Pillars of Strength:
Price Stability
This entails keeping inflation low and stable to promote economic efficiency and improve the
well-being of Filipinos. This is the primary mandate of the BSP.
Financial Institutions' Stability
The BSP seeks to maintain the health of the banking system so that it can effectively
intermediate between providers and users of funds. The BSP enforces rules and regulations to
ensure that banks conduct business in a safe and sound manner.
Payments and Settlements System Efficiency
This helps ensure the safe, timely, and accurate payment and settlement of financial transactions.
The BSP’s Various responsibilities touch the lives of many Filipinos
Maintaining price stability
It uses its policy tools to keep inflation low and create the environment for sustained and
inclusive growth. Price stability preserves the purchasing power of the Filipino people.
Supervises all banks
It monitors and examines the operation of banks and quasi-banks all over the country. It also
regulates under special laws other financial institutions such as non-stock savings and loan
association as well as pawnshops. If the banks are strong, people are encouraged to save and, in
the process, help finance economic activities. Jobs are created, income is earned.
Issues Philippine banknotes and coins.
These are used by the public in daily business and commercial transactions.
Manages the country’s international reserves
These are foreign assets mostly composed of investments in foreign-issued securities, gold, and
foreign exchange.
Banker of banks
As the lender of last resort, it can provide loans and financial assistance to banks when
necessary.
BSP determines the country’s exchange rate policy
The current policy allows market forces to determine the exchange rate. This flexibility ensures
that the true level of scarcity of foreign exchange is reflected and induces a more efficient
allocation of resources in the economy.