ECONOMIC POLICIES AND

GROWTH AND DEVELOPMENT

MONETARY POLICIES
An economic policy is a course of action that is intended to influence or
control the behavior of the economy.

Economic policies are typically implemented and administered by the

government..
 GOALS OF ECONOMIC
POLICY
1.Economic growth: Economic growth means that the incomes of all
consumers and firms (after accounting for inflation) are increasing over time.
2.Full employment: The goal of full employment is that every member of
the labor force who wants to work is able to find work.
3.Price stability: The goal of price stability is to prevent increases in the
general price level known as inflation, as well as decreases in the general
price level known as deflation.
4.Keeping the balance of payments in equilibrium
ECONOMIC POLICIES SET BY THE
GOVERNMENT TO ACHIEVE
GROWTH AND DEVELOPMENT
MONETARY POLICIES
- managing the
amount of money
supply in the economy
FISCAL POLICIES –
allocation of
government funds
TRADE POLICIES –
deals with domestic
and international trade
MONETARY
POLICY
 WHAT IS MONEY
Anything of value that serves as a:

(1) generally accepted medium of financial exchange,

(2) legal tender for repayment of debt,
(3) standard of value,
(4) unit of accounting measure, and
(5) means to save or store purchasing power.
 FUNCTIONS OF MONEY
Money as Medium of Exchange
 If money did not exist, goods would have to be exchanged by barter, that is,
exchanging goods and services for other goods and services without the
use of money. Example: exchange of shirt and knife
 Money is the medium through w/c exchange occurs
 Money reduces the transaction costs of exchanges – exchange is easier and
less time-consuming in a money economy than in a barter economy.

Money as a Unit of Account

 A unit of account is a common measure in w/c values are expressed. In
barter economy, the value of every good is expressed in terms of all other
goods; there is no common unit of measure.
 A person needs only to know the price in terms of money, hence,
determining relative prices is easy and quick.
 FUNCTIONS OF MONEY

Money as a Store of Value

 The store of value function is related to a good’s ability to
maintain its value over time. This is the least function of money
because other goods--- like paintings, houses, and stamp
could store value too.
 This function allows us to accept payment in money for our
productive efforts and to keep that money until we decide
how we want to spend it.
Fiat money is a currency without intrinsic value that has been established as money,
often by government regulation. Fiat money does not have use value, and has value only
because a government maintains its value, or because parties engaging in exchange
agree on its value.
The inconvenience of the barter system led to the adoption of a specific medium of exchange
– the cowry shells.
Cowries produced in gold, jade, quartz and wood became the most common and acceptable
form of money through many centuries.
The Philippines is naturally rich in gold. It was used in ancient times for barter rings, personal
adornment, jewelry, and the first local form of coinage called Piloncitos.
These had a flat base that bore an embossed inscription of the letters “MA” or “M” similar to
the Javanese script of the 11th century. It is believed that this inscription was the name by
which the Philippines was known to Chinese traders during the pre-Spanish time.
Barter rings made from pure gold, were hand fashioned by early Filipinos during the 11th and
the 14th centuries. These were used in trading with the Chinese and other neighboring
countries together with the metal gongs and other ornaments made of gold, silver and
copper.
Spanish Era: 1521-1897
The cobs or macuquinas of colonial mints were the earliest coins brought in by the galleons
from Mexico and other Spanish colonies. These silver coins usually bore a cross on one side
and the Spanish royal coat-of-arms on the other.
The Spanish dos mundos were circulated extensively not only in the Philippines but the
world over from 1732-1772. Treasured for its beauty of design, the coin features twin
crowned globes representing Spanish rule over the Old and the New World, hence the
name “two worlds.” It is also known as the Mexican Pillar Dollar or the Columnarias due to
the two columns flanking the globes.
Due to the shortage of fractional coins, the barrillas, were struck in the Philippines by
order of the Spanish government. These were the first crude copper or bronze coins locally
produced in the Philippines. The Filipino term “barya,” referring to small change, had its
origin in barrilla.
Silver coins with the profile of young Alfonso XIII were the last coins minted in Spain.
The pesos fuertes, issued by the country’s first bank, the El Banco Español Filipino de
Isabel II, were the first paper money circulated in the Philippines.
Revolutionary Period
1898-1899
General Emilio Aguinaldo, the first Philippine president, was vested with the
authority to produce currencies under the Malolos Constitution of 1898. At the
Malolos arsenal, two types of two-centavo coppercoins were
struck. Revolutionary banknotes were printed in denominations of 1,5 and 10
Pesos. These were handsigned by Pedro Paterno, Mariano Limjap and Telesforo
Chuidian. With the surrender of General Aguinaldo to the Americans, the
currencies were withdrawn from circulation and declared illegal currency.
American Period 1900-1941
With the coming of the Americans 1898, modern banking, currency and credit systems
were instituted making the Philippines one of the most prosperous countries in East
Asia. The monetary system for the Philippines was based on gold and pegged the
Philippine peso to the American dollar at the ratio of 2:1. The US Congress approved the
Coinage Act for the Philippines in 1903.

The coins issued under the system bore the designs of Filipino engraver and artist, Melecio
Figueroa. Coins in denomination of one-half centavo to one peso were minted. The
renaming of El Banco Espanol Filipino to Bank of the Philippine Islands in 1912 paved the
way for the use of English from Spanish in all notes and coins issued up to 1933. Beginning
May 1918, treasury certificates replaced the silver certificates series, and a one-peso note
was added.
 The Japanese Occupation
1942-1945
The outbreak of World War II caused serious disturbances in the
Philippine monetary system. Two kinds of notes circulated in the
country during this period. The Japanese Occupation Forces issued war
notes in big denominations. Provinces and municipalities, on the other
hand, issued their own guerrilla notes or resistance currencies, most of
which were sanctioned by the Philippine government in-exile, and
partially redeemed after the war.
With the establishment of the Central Bank of the Philippines in 1949, the first currencies issued
were the English series notes printed by the Thomas de la Rue & Co., Ltd. in England and the coins
minted at the US Bureau of Mint.

The Filipinization of the Republic coins and paper money began in the late 60's and is carried through
to the present. In the 70's, the Ang Bagong Lipunan (ABL) series notes were circulated, which were
printed at the Security Printing Plant starting 1978. A new wave of change swept through the
Philippine coinage system with the flora and fauna coins initially issued in 1983. These series featured
national heroes and species of flora and fauna. The new design series of banknotes issued in 1985
replaced the ABL series. Ten years later, a new set of coins and notes were issued carrying the logo of
the Bangko Sentral ng Pilipinas.

As the repository and custodian of country's numismatic heritage, the Museo ng Bangko Sentral ng
Pilipinas collects, studies and preserves coins, paper notes, medals, artifacts and monetary items
found in the Philippines during the different historical periods. It features a visual narration of the
development of the Philippine economy parallel to the evolution of its currency.
CURRENCY IN CIRCULATION
 MONEY SUPPLY: M1
M1 is sometimes referred to as the narrow definition of the money supply or as
transactions money. It is money that can be directly used for everyday
transactions. M1 consists of currency held outside banks (by members of public
for use in everyday transactions), checkable deposits, and traveler’s checks.

 Currency in circulations are coins and paper money in the hands of the
public

 Demand/Checkable deposits are deposits on which checks can be written.

Demand deposits, which are checking accounts that pay no interest, are one
kind of checkable deposit. Two other are NOW (negotiated order of
withdrawal) and ATS (automatic transfer from savings) accounts, which do pay
interest on their balances.
MONEY SUPPLY: M1
 A traveler's check is a medium of exchange utilized as an alternative to
hard currency. Travelers often used traveler's checks on vacation to foreign
countries. Traveler's checks offer a safe way to take currency overseas.

A traveler's check is a prepaid fixed amount that operates like cash that a
purchaser can use to buy goods or services when traveling. A customer
can exchange a traveler's check anywhere for cash. Major financial
service financial institutions issue traveler's checks, and banks and credit
unions sell them.
 MONEY SUPPLY: M2
M2 is commonly referred to as the broad definition of the money supply. It is
made up of M1 plus savings deposits (including money market deposit
accounts), small denomination time deposits, and money market mutual
funds.

 Savings deposit is an interest-earning account at a commercial bank or

thrift institution (Thrift institutions include savings and loan associations,
mutual savings banks, and credit union.)
 A time deposit is an interest-earning deposit with a specified maturity
date. Time deposits are subject to penalties for early withdrawal (before
maturity date). Small denomination time deposits are less than P100,000.
 MONEY SUPPLY: M2
 Money market deposit accounts (MMDA) is an interest-earning account
at a bank or thrift institution, and usually a minimum balance is required.
Most MMDAs offer limited check-writing privileges.

 Money market mutual fund (MMMF) is an interest-earning account at a

mutual fund company. Usually, a minimum balance is required for an
MMMF account, and most offer limited check-writing privileges. MMMF
held by large institutions are referred to as institutional MMMFs. MMMFs
held by all others (eg. by individuals) are referred to as retail MMMFs.
Only retail MMMFs are part of M2.
MONEY SUPPLY: M3
• M3 consists of M2 plus peso deposit substitutes, such as promissory
notes and commercial papers (i.e., securities other than shares included
in broad money).

MONEY SUPPLY: M4
M4 - consists of M3 plus transferable and other deposits in foreign
currency.
 DEMAND FOR MONEY
1. TRANSACTION DEMAND FOR MONEY – to settle business deals
between people or use to pay for goods and services
2. PRECAUTIONARY DEMAND FOR MONEY – use of money for sudden
or emergency / unexpected expenditures such as medical or car repair bills,
which often require immediate payment. The need to have money available
in such situations is referred to as the precautionary motive for demanding
money
3. SPECULATIVE DEMAND FOR MONEY – Money, like other stores of
value, is an asset. The demand for an asset depends on both its rate of
return and its opportunity cost. Typically, money holdings provide no rate
of return and often depreciate in value due to inflation. The opportunity cost
of holding money is the interest rate that can be earned by lending or
investing one's money holdings. The speculative motive for demanding
money arises in situations where holding money is perceived to be less
risky than the alternative of lending the money or investing it in some other
asset.
CHRONOLOGY OF EVENTS:
CENTRAL BANKING IN THE PHILIPPINES

August 1947 ……..A Central Bank Council was formed to review

the Commission’s report and prepare the necessary legislation
for implementation.

February 1948 --------President Manuel Roxas submitted to

Congress a bill “Establishing the Central Bank of the Philippines,
defining its powers in the administration of the monetary and
banking system, amending pertinent provisions of the
Administrative Code with respect to the currency and the
Bureau of Banking, and for other purposes.
 CHRONOLOGY OF EVENTS:
CENTRAL BANKING IN THE PHILIPPINES

1900 ----Act No. 52 was passed by the First

Philippine Commission placing all banks
under the Bureau of Treasury. The Insular
Treasurer was authorized to supervise and
examine banks and banking activities.
February 1929 ---The Bureau of Banking under the
Department of Finance took over the task
of banking supervision.
 CHRONOLOGY OF EVENTS:
CENTRAL BANKING IN THE PHILIPPINES
1939 ---A bill establishing a central bank was drafted by Secretary
of Finance Manuel Roxas and approved by the Philippine
Legislature. However, the bill was returned by the US
government, without action, to the Commonwealth Government.
1946 - A joint Philippine-American Finance Commission was
created to study the Philippine currency and banking system. The
Commission recommended the reform of the monetary system,
the formation of a central bank and the regulation of money and
credit.
The charter of the Central Bank of Guatemala was chosen as
the model of the proposed central bank charter.
 CHRONOLOGY OF EVENTS:
CENTRAL BANKING IN THE PHILIPPINES
15 June 1948 -----The bill was signed into law as Republic Act
No. 265 (The Central Bank Act) by President Elpidio Quirino.
3 January 1949-----The Central Bank of the Philippines (CBP) was
inaugurated and formally opened with Hon. Miguel Cuaderno, Sr.
as the first governor.
The broad policy objectives contained in RA No. 265 guided the
CBP in the implementation of its duties and responsibilities,
particularly in relation to the promotion of economic
development in addition to the maintenance of internal and
external monetary stability.
CHRONOLOGY OF EVENTS:
CENTRAL BANKING IN THE PHILIPPINES
November 1972----------RA No. 265 was amended by
Presidential Decree No. 72 to make the CBP more responsive
to changing economic conditions.
PD No. 72 emphasized the maintenance of domestic and
international monetary stability as the primary objective of
the CBP. Moreover, the CBP’s authority was expanded to
include not only the supervision of the banking system but
also the regulation of the entire financial system.
January 1981……Further amendments were made with the
issuance of PD No. 1771 to improve and strengthen the
financial system, among which was the increase in the
capitalization of the CBP from P10 million to P10 billion.
CHRONOLOGY OF EVENTS:
CENTRAL BANKING IN THE PHILIPPINES

1986 ……Executive Order No. 16 amended the

Monetary Board membership to promote greater
harmony and coordination of government monetary
and fiscal policies.
3 July 1993……The Bangko Sentral ng Pilipinas (BSP)
was established to replace the CBP as the country’s
central monetary authority.
OVERVIEW OF THE BSP

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the

Republic of the Philippines.

It was established on 3 July 1993 pursuant to the provisions of the

1987 Philippine Constitution and the New Central Bank Act of 1993.

The BSP took over from the Central Bank of Philippines, which was
established on 3 January 1949, as the country’s central monetary
authority.

The BSP enjoys fiscal and administrative autonomy from the

National Government in the pursuit of its mandated responsibilities.
The BSP's Organizational Structure
 THE BSP'S ORGANIZATIONAL STRUCTURE
Executive Management Services– a collective term for all
departments/offices directly reporting to the Monetary Board or to
the Governor
Functional Sectors
Monetary Stability Sector- mainly responsible for the
operations/activities related to monetary policy formulation and
implementation
Supervision and Examination Sector– mainly responsible for the
regulation of banks and other BSP-supervised financial
institutions
Resource Management Sector– mainly responsible for the
management of human, financial, and physical resources of the
Bank
Security Plant Complex– responsible for the production of
Philippine currency, security documents, and commemorative
medals and medallions
 OVERVIEW OF FUNCTIONS AND OPERATIONS
Objectives
The BSP’s primary objective is to maintain price stability
conducive to a balanced and sustainable economic
growth. The BSP also aims to promote and preserve
monetary stability and the convertibility of the national
currency.

Responsibilities
The BSP provides policy directions in the areas of money,
banking and credit. It supervises operations of banks and
exercises regulatory powers over non-bank financial
institutions with quasi-banking functions.
FUNCTIONS
Financial Supervision. The BSP supervises banks and
exercises regulatory powers over non-bank
institutions performing quasi-banking functions.

Management of foreign currency reserves. The BSP

seeks to maintain sufficient international reserves to
meet any foreseeable net demands for foreign
currencies in order to preserve the international
stability and convertibility of the Philippine peso.
 FUNCTIONS
Liquidity Management. The BSP formulates and implements
monetary policy aimed at influencing money supply consistent with
its primary objective to maintain price stability.

Currency issue. The BSP has the exclusive power to issue the
national currency. All notes and coins issued by the BSP are fully
guaranteed by the Government and are considered legal tender for
all private and public debts.

Lender of last resort. The BSP extends discounts, loans and

advances to banking institutions for liquidity purposes.
FUNCTIONS
Determination of exchange rate policy. The BSP
determines the exchange rate policy of the Philippines.
Currently, the BSP adheres to a market-oriented foreign
exchange rate policy such that the role of Bangko
Sentral is principally to ensure orderly conditions in the
market.

Other activities. The BSP functions as the banker,

financial advisor and official depository of the
Government, its political subdivisions and
instrumentalities and government-owned and -
controlled corporations.
 Bangko Sentral Governors
Name
Benjamin Diokno, Jr.
Nestor A. Espenilla , Jr.
Amando M. Tetangco, Jr.
Rafael B. Buenaventura
Gabriel C. Singson
Central Bank Governors
Name Tenure
Jose L. Cuisa, Jr.
Jose B. Fernandez, Jr.
Jaime C. Laya
Gregorio S. Licaros
Alfonso Calalang
Andres V. Castillo
Miguel Cuaderno, Sr.
Tenure
March 2019- present
4 July 2017 – 23 February 2019
4 July 2005- 3 July 2017
6 July 1999 - 3 July 2005
6 July 1993 - 5 July 1999
20 February 1990 - 2 July 1993
19 January 1984 - 19 February 1990
16 January 1981 - 18 January 1984
10 January 1970 - 15 January 1981
1 January 1968 - 9 January 1970
6 January 1961 - 31 December 1967
3 January 1949 - 31 December 1960
INFLATION TARGETING: THE BSP'S
APPROACH TO MONETARY POLICY

•Inflation targeting is focused mainly on

achieving a low and stable inflation, supportive
of the economy’s growth objective.

•This approach entails the announcement of an

explicit inflation target that the BSP promises to
achieve over a given time period.
 MONETARY POLICY
Measures or actions taken by the central bank to
influence the general price level and the level of
liquidity in the economy.

They are aimed at influencing the timing, cost and

availability of money and credit, and other financial
factors, for the main objective of stabilizing the
price level
EXPANSIONARY MONETARY POLICY
Intends to increase the level of liquidity/money
supply in the economy and which could also result in
a relatively higher inflation path for the economy.

Tends to encourage economic activity as more funds

are made available for lending by banks. This, in turn,
increases aggregate demand which could eventually
fuel inflation pressures in the domestic economy.
Examples:
the lowering interest rates
the reduction in reserve requirements
CONTRACTIONARY MONETARY POLICY
• Intends to decrease the level of liquidity/money
supply in the economy and which could also result
in a relatively lower inflation path for the economy.

• Tends to limit economic activity as less funds are

made available for lending by banks. This, in turn,
lowers aggregate demand which could eventually
temper inflation pressures in the domestic
economy

• Examples of this are increases in policy interest

rates and reserve requirements.
 MONETARY POLICY INSTRUMENTS
encouraging/discouraging deposits under the term
deposit auction facility (TDF);
standing liquidity facilities, namely, the overnight
lending facility (OLF) and the overnight deposit facility
(ODF);
increasing/decreasing the reserve requirement;
adjusting the rediscount rate on loans extended to
banking institutions on a short-term basis against
eligible collateral of banks' borrowers;
outright sales/purchases of the BSP's holding of
government securities
 MONETARY OPERATIONS
Monetary operations refer to the:
• buying/selling of government securities,
lending/borrowing against underlying assets as
collateral,
• acceptance of fixed-term deposits,
• foreign exchange swaps,

All are aimed at influencing the underlying

demand and supply conditions for central bank
money.
OPEN MARKET OPERATIONS (OMO) – BUYING AND
SELLING OR TREASURY BONDS BY BSP
.
Reverse Repurchase/Repurchase transactions

In a repurchase transaction, the BSP buys government

securities (GS) from a bank with a commitment to sell
them back at a specified future date at a predetermined
rate, resulting in an expansionary effect on liquidity.
Conversely, in a reverse repurchase (RRP) operation, the
BSP also acts as the seller of GS and the bank’s payment
to the BSP has a contractionary effect on liquidity.
 OPEN MARKET OPERATIONS (OMO)
Outright purchases and sales of securities

An outright contract involves direct purchase/sale of

government securities by the BSP from/to the market
for the purpose of increasing/decreasing money
supply on a more permanent basis.

In such a transaction, the parties do not commit to

reverse the transaction in the future, creating a more
permanent effect on the banking system’s level of
money supply.
OPEN MARKET OPERATIONS (OMO)
Foreign exchange swaps

Foreign exchange swaps refer to transactions involving

the actual exchange of two currencies (principal
amount only) on a specific date at a rate agreed on the
deal date (the first leg), and a reverse exchange of the
same two currencies at a date further in the future
(the second leg) at a rate (different from the rate
applied to the first leg) agreed on deal date.
 ACCEPTANCE OF TERM DEPOSITS
The BSP, like other central banks, offers term deposits as
one of the monetary tools to absorb liquidity.
Term Deposit Facility (TDF)
The TDF is a liquidity absorption facility used by the BSP
for liquidity management. Counterparties are asked to
submit bids (volume and rate) for term placements with
the BSP. The BSP will initially offer two tenors—seven
days and 28 days—in its term deposit auction. The
possibility of offering longer tenors will be evaluated
going forward, depending on the liquidity needs and
preferences of the market.
 3. STANDING LIQUIDITY FACILITIES
The BSP offers standing liquidity (lending and deposit)
windows to provide or absorb liquidity at the initiative of
the counterparty.

These standing overnight facilities are available on

demand to qualified counterparties during BSP business
hours. The two standing facilities that form the upper
and lower bound of the corridor are set at ± 50 basis
points (bps) around the policy rate (the overnight RRP
rate under the new IRC structure).
3. STANDING LIQUIDITY FACILITIES
Overnight Deposit Facility
The standing overnight deposit facility will absorb
any residual system liquidity to prevent market
interest rates from falling below the corridor.
Interest rate for the O/N deposit facility is the RRP
rate minus 50 bps (0.50 percentage point). The
interest rate for the O/N deposit facility serves as a
floor for the O/N interbank rate.
3. STANDING LIQUIDITY FACILITIES
Overnight Lending Facility
The standing overnight lending facility provides
collateralized overnight funding to BSP counterparties
to clear end-of-day imbalances. Interest rate for the
O/N lending facility is the RRP rate plus 50 bps (0.50
percentage point). The interest rate for the O/N
lending facility serves as a ceiling for the O/N
interbank rate.
INFLATION TARGETING: THE BSP'S
APPROACH TO MONETARY POLICY

•Inflation targeting is focused mainly on

achieving a low and stable inflation, supportive
of the economy’s growth objective.

•This approach entails the announcement of an

explicit inflation target that the BSP promises to
achieve over a given time period.
 Inflation Rates, Philippines
2011 2012 2013 2014 2015 2016 2017

Average 4.6 3.2 3.0 4.1 1.4 1.8 3.1

January 4.0 4.0 3.1 4.2 2.4 1.3 2.7

February 4.7 2.7 3.4 4.1 2.5 0.9 3.3
March 4.9 2.6 3.2 3.9 2.4 1.1 3.4
April 4.7 3.0 2.6 4.1 2.2 1.1 3.4
May 4.9 3.0 2.6 4.5 1.6 1.6 3.1
June 5.2 2.9 2.7 4.4 1.2 1.9 2.7
July 4.9 3.2 2.5 4.9 0.8 1.9 2.8
August 4.6 3.8 2.1 4.9 0.6 1.8
September 4.7 3.7 2.7 4.4 0.4 2.3
October 5.2 3.2 2.9 4.3 0.4 2.3
November 4.7 2.8 3.3 3.7 1.1 2.5
December 4.2 3.0 4.1 2.7 1.5 2.6

Source: Philippine Statistics Authority (PSA)

2006-100
Inflation rate in the Philippines April 2018- January 2019
KEY RATES

30 Apr 2019
US$ 1.00 PhP 52.106
O/N Lending Rate 5.25%
O/N RRP Rate 4.75%
O/N Deposit Rate 4.25%
8-day TDF 4.7567%
(WAIR)
(24 Apr '19)

14-day TDF (WAIR) 4.7789%

(24 Apr'19)
28-day TDF (WAIR) 5.0987%
(20 Mar '19)

Inflation Rate 3.8 % (2012=100)

(Feb '19)
91-day T-bill Rate 5.563
(29 Apr '19)
Gold Buying/ US$ 1,280.70
troy oz.
Silver Buying US$ 14.90
Exchange Rate Bulletin
FUNCTIONS OF A CENTRAL BANK
1. It is a bank of issue – has the complete monopoly of note issue or
money.

2. It is banker, agent and adviser of the government - conducts the

banking accounts of the government agencies and instrumentalities.

3. It is the custodian of cash reserves of banks.- banks are required to

deposit to CB a certain % of their bank deposits as a means to regulate
money supply.

4. It is the custodian of the nation’s reserves of international currency –

International reserves refer to gold and acceptable foreign currencies
like US dollars, the Japanese yen, and British pound.

5. It is a bank of rediscount and lender of last resort - assists banks in

distress and lends money to banks as a last resort.
 FUNCTIONS OF A CENTRAL BANK
6. It is a bank of central clearance and settlement – Clearing of checks and
settlements of interbank balances.

7. Central bank controls credit - regulates money supply to maintain price

stability and implements the following monetary tools to control credit:

a. Increasing/decreasing interest rates

b. Increasing the legal reserve requirement
c. Buying or selling of government bonds
d. Restricting imports
e. Selecting projects for funding
f. Monitoring and assuring that concerned sectors are supporting and
properly implementing the monetary policies set.
BSP acknowledges the important roles of
banks in the implementation of monetary
policies for economic growth.

It has launched a crusade for responsible

banking based on prudence, service to
community and commitment to
development efforts.
 PHILIPPINE BANKING SYSTEM
.

Universal Banking System

Commercial Banking System
Thrift Banking System
Rural and Cooperative Banks
Non-Bank with Quasi-Banking Functions
Government Financial Institutions
 TO DO : QUIZ AND ASSIGNMENT
Quiz 1: Group Research and Reporting on Different Types of Banks
Operations
Services Offered
Comparison with other banks
Roles/Contributions to the implementation of the monetary policies and
economic growth
Quiz 2 : Individual Report/Reaction

Select one (1) bank under the classification assigned and provide information about
the bank in one-sheet of short bond paper (Printed)

Reflection/Reaction – Filipino, Handwritten, Yellow Paper

Why did you select that bank?

Highlight on the bank’s role/contribution to the economy and society as a whole
REFERENCES
http://www.bsp.gov.ph/

https://www.google.com.ph

https://ph.yahoo.com/