week 9 Flashcards
(19 cards)
The specific process and criteria for membership evaluation that can vary
depending on the country and the central bank’s legal framework.
Membership Evaluation
Here are the general aspects of membership evaluation in central banking authorities:
Qualifications and Expertise
Independence and Impartiality
Integrity and Ethical Standards
Diversity and Representation
is the highest policy making body of the Bangko Sentral ng Pilipinas,
The monetary board
: The governor is responsible for overseeing the day- to-day operations of the central bank.
Managing the central bank’s operations
The governor often represents the central bank in meetings with other government officials, international organizations, and the media.
Representing the central bank
: The governor promotes financial stability by regulating banks and other financial institutions, monitoring systemic risks, and taking action to address financial crises.
Promoting financial stability
The governor oversees the central bank’s research and analysis of economic and financial trends.
Conducting research and analysis
The governor manages and issues a country’s currency, including controlling its circulation
Issuing currency
exercises the powers and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system. Its chairman is the BSP Governor, with five full-time members from the private sector and one member from the Cabinet.
Monetary Board
is the chief executive officer of the BSP and is required to direct and supervise the operations and internal administration of the BSP.
Governor
heads each of the BSP’s operating sectors
Deputy Governor
mainly responsible for the operations/activities related to monetary policy formulation, implementation, and assessment.
Monetary and Economics Sector(MES)
mainly responsible for the regulation of banks and other BSP-supervised financial institutions, as well as the oversight and supervision of financial technology and payment systems.
Financial Supervision Sector(FSS)
– mainly responsible for the effective management of BSP’s human, financial, and physical resources to support the BSP’s core functions, including oversight of the operations of the New Clark City – Program Management Office.
Corporate Services Sector(CSS)
mainly responsible for maintaining the safety and integrity of the Philippine currency and ensuring a well-functioning payments and cash ecosystem that facilitates the economic activity and supports long-run economic growth.
Payments and Currency Management Sector(PCMS)
mainly responsible for the management of activities related toregional operations, consumer empowerment and advocacy, and communications
Regional Operations and Advocacy Sector (ROAS)
assists the Governor and/or the Deputy Governor in formulating and implementing programs and policies, and manages the overall operations of his/her Sub-Sector/Office.
Senior Assistant Governor/Assistant Governor
policies and actions implemented by central banks with the
International Financial System
International Monetary Policy
