BSP reorganizes for better efficiency


By Rose de la Cruz


The Bangko Sentral ng Pilipinas is implementing its phased reorganization to enhance its capability to fulfill its mandate in a changing economic landscape.


The reorganized BSP is expected to have four major sectors: a) the Monetary and Economic Sector in charge of monetary policy formulation, implementation and assessment. It will absorb units formerly under the former Monetary Stability Sector, specifically the departments and offices for economic research and statistics, monetary and financial policy, international operations and relations, and loans and credit; the Treasury Department, Payments and Settlements Office and Investor Relations Office are now part of the Monetary and Economics Sector.


B. Financial Supervision Sector, formerly the Supervision and Examination Sector, which will regulate banks and other BSP-supervised financial institutions and provide oversight on matters relating to financial technology, payment systems, and consumer protection.


C. The Currency Management Sector, which shall be mainly responsible for the forecasting, production, distribution and retirement of Philippine currency. The units in the Security Plant Complex in-charge of banknotes, coins and securities production, mint refining, and the currency production support activities, and the departments and offices that formerly belonged to the Monetary Stability Sector, specifically the Cash Department, the Currency Issue and Integrity Office, and the BSP Regional Offices and Branches, will now be organized into the Currency Management Sector.


D. The Corporate Services Sector, which shall be responsible for the effective management of corporate strategy, communications, and risks, as well as the BSP’s human, financial, technological and physical resources to support the BSP’s core functions.


In addition to the four BSP Sectors, the reorganization will also result in reinforced units that promote effective risk management and compliance as well as internal audit.


Finally, the reorganization institutionalizes the top- level commitments to pro-active systemic risk management and to a more inclusive and responsive financial system.

Like us in Facebook


Latest News

Empowering MSMEs in Dinagat Island province

  By Rose de la Cruz   Bangko Sentral ng Pilipinas is soon signing a memorandum of agreement with the local officials of the island province of... Read More...
Empowering MSMEs in Dinagat Island province

  By Rose de la Cruz   Bangko Sentral ng Pilipinas is soon signing a memorandum of agreement with the local officials of the island province of... Read More...
Bong still unsure of Senate run

Should he stay or should he go?  This is the question that Special Assistant to the President Christopher “Bong” Go is trying to answer and... Read More...
IMAGE In the know: Solar Philippines

Solar Philippines is currently the country’s – and Southeast Asia’s – largest solar-energy company. Founded in August 2013 by Leandro... Read More...
Wrong Dream Girl and Other Laughs

Wrong Dream GirlA FROG telephones the Psychic Hotline. His Personal Psychic Advisor tells him, "You are going to meet a beautiful young girl who will... Read More...
Confession Code and other laughs

Confession Code AN old priest who became sick of all the people in his parish who kept confessing to adultery said one Sunday, in the pulpit,"If I... Read More...

KAMAKAILAN ay tumawag ng atensyon ang plano ni Sen. Manny Pacquiao na maghain ng panukalang batas na naglalayon na isama bilang bahagi ng curriculum... Read More...

SUPORTADO nang ibat-ibang consumer group kabilang na ang Institute for Consumer Research and Empowerment (ICORE) ang panukalang dapat putulin na ang... Read More...

Our Guests

This week3717
This month14805

Visitor Info

  • Your IP:

Who Is Online


Friday, 21 September 2018
© 2016 OpinYon News Magazine Online. All Rights Reserved.

Please publish modules in offcanvas position.