Philippine Monetary

Board

What is the Philippine Monetary

Board?
The Monetary Board exercises the powers and functions
of the BSP, such as the conduct of monetary policy and
supervision of the financial system.
Its chairman is the BSP Governor, with five full-time
members from the private sector and one member from
the Cabinet.

What is the function of

the monetary board?

What is the function of the Monetary

Board?
The major functions of the Monetary Board include the
power to:
1.) Issue rules and regulations it considers necessary for
the effective discharge ofthe responsibilities and
exercise of the powers vested in it.
2.) Direct the management, operations, and
administration of Bangko Sentral,organize its personnel
and issue such rules and regulations as it may
deemnecessary or desirable for this purpose.
3.) Establish a human resource management system
which governs the selection,hiring, appointment,

What is the function of the Monetary

Board?
4.) Adopt an annual budget for and authorize such expenditures
by Bangko Sentral asare in the interest of the effective
administration and operations of Bangko Sentralin accordance
with applicable laws and regulations.
5.) Indemnify its members and other officials of Bangko Sentral,
including personnel of the departments performing supervision
and examination functions, against all costs and expenses
reasonably incurred by such persons in connection with any civil
or criminal action, suit or proceeding, to which any of them may
be made a party by reason of the performance of his functions
or duties, unless such members or other officials is found to be
liable for negligence or misconduct.

Current members of the Monetary

Board
Chairman:
Amando M. Tetangco, Jr.
Members:
Cesar V. Purisima
Alfredo C. Antonio
Juan D. De Zuiga, Jr.
Valentin A. Araneta
Felipe M. Medalla
Armando L. Suratos

The Governor
The Governor is the chief executive officer of BSP and is
required to direct and supervise the operations and
internal administration of BSP.
Specifically, the Governor:
Prepares the agenda for the meetings of the Monetary
Board and submits policy recommendations for
consideration of the Board.
Executes and administers policies and measures
approved by the Monetary Board.

 Appoints and fixes the remunerations and other

emoluments of personnel, as well as imposes
disciplinary measure upon personnel of the Bangko
Sentral;
Renders opinions, decision, or ruling, which shall be
final and executory until reversed or modified by the
Monetary Board, on matters regarding application or
enforcement of laws pertaining to institutions
supervised by the BSP and laws pertaining to quasibanks, as well as regulations, policies or instructions
issued by the Monetary Board, and the implementation
thereof.
Exercises such other powers as may be vested in him by
the Monetary Board.

The Governor is the principal representative of the

Monetary Board and of the BSP.
As such, the Governor is empowered to:
Represent the monetary Board and the BSP in all
dealing with other offices, agencies and
instrumentalities of the Government and all other
persons or entities, public or private, whether domestic,
foreign or international.
Sign contracts entered into by the BSP, notes and
securities issued by the BSP, all reports, balance sheets,
profit and loss statements, correspondence and other
documents of the BSP.

Governance of the Bank

The Monetary Board exercises the powers and functions
of the BSP, such as the conduct of monetary policy and
supervision of the financial system. Its chairman is the
BSP Governor, with five full-time members from the
private sector and one member from the Cabinet.
The Governor is the chief executive officer of the BSP and
is required to direct and supervise the operations and
internal administration of the BSP. A deputy governor
heads each of the BSPs operating sector.

The BSPs operating sector are as follows:

Monetary Stability Sector
takes charge of the formulation and implementation of the
BSPs monetary policy, including serving the banking needs
of all banks through accepting deposits, servicing
withdrawals and extending credit through the rediscounting
facility.
Supervision and Examination Sector
enforces and monitors compliance to banking laws to
promote a sound and healthy banking system.
Resource Management Sector
serves the human, financial and physical resource needs of
the BSP.
Organizational Structure of BSP