An pagkakaiba han mga rebisyon han "Bangko Sentral ng Pilipinas"

The [[Bangko]] Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. The BSP was established as an independent central monetary authority pursuant to the Philippine Constitution and the New Central Bank Act of 1993 as part of the restructuring of the old Central Bank of the Philippines (CBP), which was originally established in 1949. The need for such restructuring arose as a result of substantial deficits in the CBP's operations prior to 1993 that were incurred in connection with (i) certain quasi-fiscal activities conducted by the CBP consistent with policies of the National Government at the time (i.e., foreign exchange forward cover contracts and swaps entered into by the CBP with certain banks and government-owned and -controlled corporations or GOCCs) and the CBP's assumption of foreign exchange liabilities of certain GOCCs and private sector companies during the Philippines' foreign exchange crisis in 1980s; (ii) development banking and financing by the CBP; and (iii) the CBP's conduct of open market operations and incurrence of high interest expenses on the CBP's domestic securities issued in connection with such operations. Under the New Central Bank Act, the BSP was granted increased fiscal and administrative autonomy from other sectors of the Government. As such, the BSP no longer undertakes the quasi-fiscal activities described above. In addition, pursuant to the New Central Bank Act, the BSP is not permitted to engage in development banking or financing.