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General Banking Act
General Banking Act
CREATION,
RESPONSIBILITIES
AND CORPORATE
POWERS OF THE
BANGKO SENTRAL
DECLARATION
OF POLICY
The State shall maintain
a central monetary authority
that shall function and
operate as an independent
and accountable body
corporate in the discharge of
its mandated responsibilities
concerning money, banking
and credit system of the
country.
The BSP is a government-owned
corporation which enjoys fiscal and
administrative autonomy.
RESPONSIBILITY AND PRIMARY
OBJECTIVES OF BSP:
RECEIVERSHIP LIQUIDATION
CONSERVATORSHIP
CONSERVATORSHIP