B.S.P. as Supervisor and Regulator

Manila Bulletin, April 1, 2012 | Go to article overview

B.S.P. as Supervisor and Regulator


ONE of the three pillars of central banking is effective supervision and regulation. The other two pillars are:

1. Maintenance of price stability.

2. Maintenance of an effective payment and settlement system.

The Bangko Sentral ng Pilipinas (BSP) acts as supervisor and regulator of the following institutions:

1. Banks.

2. Subsidiaries and affiliates of banks.

3. Quasi-banks.

4. Subsidiaries and affiliates of quasi-banks engaged in allied activities.

5. Trust entities.

6. Non-stock savings and loan associations.

7. Pawnshops.

8. Offshore banking units or OBUs.

According to level of capitalization and authorized banking functions and activities, banks are classified into:

1. Universal banks.

2. Commercial banks.

3. Thrift banks.

4. Rural banks.

5. Cooperative banks.

6. Islamic banks.

7. Other banks.

The Bangko Sentral's supervisory powers over the above-named institutions are exercised primarily through:

1. Issuance of rules.

2. Examination and investigation - which could be either regular or special.

3. Prompt corrective action.

4. When necessary, resolution.

Issuance of rules

In the exercise of its rule-making authority, the Bangko Sentral sets policy directions and issues instructions to banks and other supervised institutions through memorandums and circulars.

All these issuances are pursuant to and consistent with the General Banking Law of 2000 (RA 8791), the New Central Bank Act (RA 7653), and other applicable laws.

Such issuances cover the whole range of banking activities starting from: 1) organization/ capitalization/equity investments; 2) composition of board of directors; 3) qualifications/disqualifications of officers and directors ("fit and proper rule"); and 4) operations [e. …

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