Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was established on 3 July 1993 as the country’s independent central monetary authority, pursuant to the Constitution and Republic Act No. 7653 or the New Central Bank Act. The BSP replaced the old Central Bank of the Philippines, which was established on 3 January 1949.

As the Philippines’ central monetary authority, the BSP is responsible, among other things, for:

  • Maintaining price stability conducive to a balanced and sustainable growth of the economy;
  • Maintaining financial stability by ensuring that the banking system is sound and stable; and
  • Ensuring the safe, timely, and accurate payment and settlement of financial transactions.