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Bangko Sentral Ng Pilipinas
The Bangko Sentral ng Pilipinas (; commonly abbreviated as BSP in both Filipino and English) is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993 as amended by Republic Act 11211 or the New Central Bank Act of 2019. History American era and World War II In 1900, the First Philippine Commission passed Act No. 52, which placed all banks under the Bureau of the Treasury and authorizing the Insular Treasurer to supervise and examine banks and all banking activity. In 1929, the Department of Finance, through the Bureau of Banking, took over bank supervision. By 1933, a group of Filipinos had conceptualized a central bank for the Philippine Islands. It came up with the rudiments of a bill for the establishment of a central bank after a careful study of the economic provisions of the Hare–Hawes–Cutting Act, which would grant Philippine independence after 12 years, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governor Of The Bangko Sentral Ng Pilipinas
The Governor of the Bangko Sentral ng Pilipinas (Filipino language, Filipino: ''Tagapangasiwa ng Bangko Sentral ng Pilipinas'') is the chief executive officer of the Bangko Sentral ng Pilipinas, the Philippines' central bank. This position succeeds and replaces the earlier post of Governor of the Central Bank of the Philippines. On June 30, 2022, President of the Philippines, President Bongbong Marcos appointed Felipe Medalla as the sixth Governor of the Bangko Sentral ng Pilipinas, serving the unexpired term of his predecessor (which will end in July 2023), Benjamin Diokno, who was subsequently appointed as Secretary of Finance (Philippines), Secretary of Finance. Roles with other agencies He also serves as the chairman and principal representative of the Bangko Sentral ng Pilipinas#Organization of the Bangko Sentral, Monetary Board; Chairman of Anti-Money Laundering Council, chairman of Anti-Money Laundering Council (Philippines), Anti-Money Laundering Council and Philippine Inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sui Generis
''Sui generis'' ( , ) is a Latin phrase that means "of its/their own kind", "in a class by itself", therefore "unique". A number of disciplines use the term to refer to unique entities. These include: * Biology, for species that do not fit into a genus that includes other species * Creative arts, for artistic works that go beyond conventional genre boundaries * Law, when a special and unique interpretation of a case or authority is necessary ** Intellectual property rights, for types of works not falling under general copyright law but protected through separate statutes * Philosophy, to indicate an idea, an entity, or a reality that cannot be reduced to a lower concept or included in a higher concept Biology In the taxonomical structure "genus → species", a species is described as ''sui generis'' if its genus was created to classify it (i.e. its uniqueness at the time of classification merited the creation of a new genus, the sole member of which was initially the ''sui g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
President Of The Philippines
The president of the Philippines ( fil, Pangulo ng Pilipinas, sometimes referred to as ''Presidente ng Pilipinas'') is the head of state, head of government and chief executive of the Philippines. The president leads the executive branch of the Philippine government and is the commander-in-chief of the Armed Forces of the Philippines. The president is directly elected by the people, and is one of only two nationally elected executive officials, the other being the vice president of the Philippines. However, four vice presidents have assumed the presidency without having been elected to the office, by virtue of a president's intra-term death or resignation. Filipinos generally refer to their president as ''pangulo'' or ''presidente'' in their local language. The president is limited to a single six-year term. No one who has served more than four years of a presidential term is allowed to run or serve again. The current president of the Philippines is Bongbong Marcos, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second World War
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries. The major participants in the war threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. Aircraft played a major role in the conflict, enabling the strategic bombing of population centres and deploying the only two nuclear weapons ever used in war. World War II was by far the deadliest conflict in human history; it resulted in 70 to 85 million fatalities, mostly among civilians. Tens of millions died due to genocides (including the Holocaust), starvat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Philippine Republic
The Second Philippine Republic, officially known as the Republic of the Philippines ( tl, Repúbliká ng Pilipinas; es, República de Filipinas; ja, フィリピン共和国, ''Firipin-kyōwakoku'') and also known as the Japanese-sponsored Philippine Republic, was a Japanese puppet state established on October 14, 1943 during the Japanese occupation of the islands. Background After the Japanese invasion of the Philippines, President Manuel L. Quezon had declared the national capital Manila an "open city", and left it under the rule of Jorge B. Vargas, as mayor. The Japanese entered the city on January 2, 1942, and established it as the capital. Japan fully captured the Philippines on May 6, 1942, after the Battle of Corregidor. General Masaharu Homma decreed the dissolution of the Commonwealth of the Philippines and established the Philippine Executive Commission (), a caretaker government, with Vargas as its first chairman in January 1942. KALIBAPI — (Tagalog for the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Japanese Occupation Of The Philippines
The Japanese occupation of the Philippines ( Filipino: ''Pananakop ng mga Japones sa Filipinas''; ja, 日本のフィリピン占領, Nihon no Firipin Senryō) occurred between 1942 and 1945, when Imperial Japan occupied the Commonwealth of the Philippines during World War II. The invasion of the Philippines started on 8 December 1941, ten hours after the attack on Pearl Harbor. As at Pearl Harbor, American aircraft were severely damaged in the initial Japanese attack. Lacking air cover, the American Asiatic Fleet in the Philippines withdrew to Java on 12 December 1941. General Douglas MacArthur was ordered out, leaving his men at Corregidor on the night of 11 March 1942 for Australia, 4,000 km away. The 76,000 starving and sick American and Filipino defenders in Bataan surrendered on 9 April 1942, and were forced to endure the infamous Bataan Death March on which 7,000–10,000 died or were murdered. The 13,000 survivors on Corregidor surrendered on 6 May. Japan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Assembly Of The Philippines
The National Assembly of the Philippines ( tl, Kapulungáng Pambansâ ng Pilipinas, es, Asamblea Nacional de Filipinas) refers to the legislature of the Commonwealth of the Philippines from 1935 to 1941, and of the Second Philippine Republic during the Japanese occupation. The National Assembly of the Commonwealth was created under the 1935 Constitution, which served as the Philippines' fundamental law to prepare it for its independence from the United States of America. The National Assembly during the Japanese occupation of the Philippines during the Second World War in the Pacific was created by the 1943 Constitution. With the invasion of the Philippines, the Commonwealth government had gone into exile to the United States. It left behind a skeletal bureaucracy whose officials formed a government under the Japanese Imperial Army. In an attempt to win the loyalty of Filipinos, the Japanese established a nominally independent ''Republic of the Philippines'', with a Nati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Reserve
A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of the national currency. The World Gold Council estimates that all the gold ever mined, and that is accounted for, totalled 190,040 metric tons in 2019How much gold has been mined? , World Gold Council but other independent estimates vary by as much as 20%. At a price of US, reached on 16 August 2017, one metric ton of gold has a value of approximately $40.2 million. The total value of all gold ever mined, and that is accounted for, would exceed $7.5 trillion at that valuation and using WGC 2017 estimates. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Piso
The Philippine peso, also referred to by its Tagalog name ''piso'' (Philippine English: , , plural pesos; tl, piso ; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 ''sentimo'', also called centavos. The Philippine peso sign is denoted by the symbol "₱", introduced under American rule in place of the original peso sign "$" used throughout Spanish America. Alternative symbols used are "PHP", "PhP", "Php", or just "P". The monetary policy of the Philippines is conducted by the Bangko Sentral ng Pilipinas (BSP), established on July 3, 1993, as its central bank. It produces the country's banknotes and coins at its Security Plant Complex, which is set to move to New Clark City in Capas, Tarlac."Overview of the BSP" Bangko Sentral ng Pilipinas (BSP) Official Website. Retrieved on October 1, 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Stability
Price stability is a goal of monetary and fiscal policy aiming to support sustainable rates of economic activity. Policy is set to maintain a very low rate of inflation or deflation. For example, the European Central Bank (ECB) describes price stability as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the Euro area of below 2%. However, by referring to "an increase in the HICP of below 2%" the ECB makes clear that not only persistent inflation above 2% but also deflation (i.e. a persistent decrease of the general price level) are inconsistent with the goal of price stability. In the United States, the Federal Reserve Act (as amended in 1977) directs the Federal Reserve to pursue policies promoting "maximum employment, stable prices, and moderate long-term interest rates". The Fed long ago determined that the best way to meet those mandates is to target a rate of inflation of around 2%; in 2011 it officially adopted a 2% annual increase in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonwealth Of The Philippines
The Commonwealth of the Philippines ( es, Commonwealth de Filipinas or ; tl, Komonwelt ng Pilipinas) was the administrative body that governed the Philippines from 1935 to 1946, aside from a period of exile in the Second World War from 1942 to 1945 when Japan occupied the country. It was established following the Tydings–McDuffie Act to replace the Insular Government, a United States territorial government.. The Commonwealth was designed as a transitional administration in preparation for the country's full achievement of independence. Its foreign affairs remained managed by the United States. During its more than a decade of existence, the Commonwealth had a strong executive and a Supreme Court. Its legislature, dominated by the Nacionalista Party, was at first unicameral, but later bicameral. In 1937, the government selected Tagalog – the language of Manila and its surrounding provinces – as the basis of the national language, although it would be many years befor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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