Bangko Sentral ng Pilipinas
Overview
 
The Bangko Sentral ng Pilipinas (English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...

: Central Bank of the Philippines) and commonly abbreviated as BSP is the central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...

 of the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

. It was rechartered on July 3, 1993, pursuant to the provision of the 1987 Philippine Constitution
Constitution of the Philippines
The Constitution of the Philippines is the supreme law of the Philippines.The Constitution currently in effect was enacted in 1987, during the administration of President Corazon Aquino, and is popularly known as the "1987 Constitution"...

 and the New Central Bank Act of 1993. The BSP was established on January 3, 1949, as the country’s central monetary authority.
In 1900, the First Philippine Commission passed Act No.
Encyclopedia
The Bangko Sentral ng Pilipinas (English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...

: Central Bank of the Philippines) and commonly abbreviated as BSP is the central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...

 of the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...

. It was rechartered on July 3, 1993, pursuant to the provision of the 1987 Philippine Constitution
Constitution of the Philippines
The Constitution of the Philippines is the supreme law of the Philippines.The Constitution currently in effect was enacted in 1987, during the administration of President Corazon Aquino, and is popularly known as the "1987 Constitution"...

 and the New Central Bank Act of 1993. The BSP was established on January 3, 1949, as the country’s central monetary authority.

History

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 Philippines. 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
Hare-Hawes-Cutting Act
The Hare–Hawes–Cutting Act was the first US law passed for the decolonization of the Philippines.By 1932, forces for the creation of this law coalesced around US farmers who were hit by the Great Depression and feared Filipino imports of sugar and coconut oil that were not subject to US tariff...

, which would grant Philippine independence after 12 years, but reserving military and naval bases for the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 and imposing tariffs and quotas on Philippine exports. However, the Hare-Hawes-Cutting Act would be rejected by the Senate of the Philippines
Senate of the Philippines
The Senate of the Philippines is the upper chamber of the bicameral legislature of the Philippines, the Congress of the Philippines...

at the urging of Manuel L. Quezon
Manuel L. Quezon
Manuel Luis Quezón y Molina served as president of the Commonwealth of the Philippines from 1935 to 1944. He was the first Filipino to head a government of the Philippines...

. This Senate then advocated a new bill that won President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....

 Franklin D. Roosevelt
Franklin D. Roosevelt
Franklin Delano Roosevelt , also known by his initials, FDR, was the 32nd President of the United States and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war...

's support, this would be the Tydings-McDuffie Act
Tydings-McDuffie Act
The Tydings-McDuffie Act approved on March 24, 1934 was a United States federal law which provided for self-government of the Philippines and for Filipino independence after a period of ten years. It was authored by Maryland Senator Millard E...

,
which would grant Philippine independence on July 4, 1946.

During the Commonwealth period
Commonwealth of the Philippines
The Commonwealth of the Philippines was a designation of the Philippines from 1935 to 1946 when the country was a commonwealth of the United States. The Commonwealth was created by the Tydings-McDuffie Act, which was passed by the U.S. Congress in 1934. When Manuel L...

, the discussion about a Philippine central bank that would promote price stability and economic growth, continued. The country’s monetary system then was administered by the Department of Finance and the National Treasury. The Philippines was on the exchange standard using the US dollar, which was backed by 100 percent gold reserve, as the standard currency.

In 1939, as required by the Tydings-McDuffie Act, the Philippine legislature passed a law establishing a central bank. As it was a monetary law, it required the approval of the United States president; Roosevelt did not give his. A second law was passed in 1944, during the Japanese occupation, but the arrival of the American liberation forces aborted its implementation.

Shortly after President
President of the Philippines
The President of the Philippines is the head of state and head of government 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...

 Manuel Roxas
Manuel Roxas
Manuel Acuña Roxas was the first president of the independent Third Republic of the Philippines and fifth president overall. He served as president from the granting of independence in 1946 until his abrupt death in 1948...

 assumed office in 1946, he instructed Finance Secretary Miguel Cuaderno, Sr. to draw up a charter for a central bank. The establishment of a monetary authority became imperative a year later as a result of the findings of the Joint Philippine-American Finance Commission chaired by Cuaderno. The Commission, which studied Philippine financial, monetary, and fiscal problems in 1947, recommended a shift from the dollar exchange standard to a managed currency system. A central bank was necessary to implement the proposed shift to the new system.
Roxas then created the Central Bank Council to prepare the charter of a proposed monetary authority. It was submitted to Congress
Congress of the Philippines
The Congress of the Philippines is the national legislature of the Republic of the Philippines. It is a bicameral body consisting of the Senate , and the House of Representatives although commonly in the Philippines the term congress refers to the latter.The Senate is composed of 24 senators half...

 in February 1948. By June of the same year, the newly-proclaimed President Elpidio Quirino
Elpidio Quirino
Elpidio Rivera Quirino was a Filipino politician, and the sixth President of the Philippines.A lawyer by profession, Quirino entered politics when he became a representative of Ilocos Sur from 1919 to 1925. He was then elected as senator from 1925–1931...

, who succeeded President Roxas, affixed his signature on Republic Act (RA) No. 265, the Central Bank Act of 1948. On January 3, 1949, the Central Bank of the Philippines was formally inaugurated with Miguel Cuaderno, Sr. as the first governor. The main duties and responsibilities of the Central Bank were to promote economic development and maintain internal and external monetary stability.

Over the years, changes were introduced to make the charter more responsive to the needs of the economy. On November 29, 1972, Ferdinand Marcos
Ferdinand Marcos
Ferdinand Emmanuel Edralin Marcos, Sr. was a Filipino leader and an authoritarian President of the Philippines from 1965 to 1986. He was a lawyer, member of the Philippine House of Representatives and a member of the Philippine Senate...

's Presidential Decree No. 72 amended Republic Act No. 265, emphasizing the maintenance of domestic and international monetary stability as the primary objective of the Central Bank. The Bank's authority was also expanded to include regulation of the entire financial system of the Philippines and not just supervision of the banking system. In 1981, RA 265, as amended, was further improved to strengthen the financial system, among the changes was the increase in the capitalization of the Central Bank from Ps
Philippine peso
The peso is the currency of the Philippines. It is subdivided into 100 centavos . Before 1967, the language used on the banknotes and coins was English and so "peso" was the name used...

10 million to Ps10 billion.

In the 1973 Constitution
Constitution of the Philippines
The Constitution of the Philippines is the supreme law of the Philippines.The Constitution currently in effect was enacted in 1987, during the administration of President Corazon Aquino, and is popularly known as the "1987 Constitution"...

, the Interim Batasang Pambansa (National Assembly) was mandated to establish an independent central monetary authority. Later, Presidential Decree No. 1801 designated the Central Bank of the Philippines as the central monetary authority (CMA). Years later, the 1987 Constitution adopted the CMA provisions from the 1973 Constitution that were aimed essentially at establishing an independent monetary authority through increased capitalization and greater private sector representation in the Monetary Board.

In accordance with a provision in the 1987 Constitution, President Fidel V. Ramos
Fidel V. Ramos
Fidel "Eddie" Valdez Ramos , popularly known as FVR, was the 12th President of the Philippines from 1992 to 1998. During his six years in office, Ramos was widely credited and admired by many for revitalizing and renewing international confidence in the Philippine economy.Prior to his election as...

 signed Republic Act No. 7653, otherwise known as the New Central Bank Act, into law on June 14, 1993. The law provides for the establishment of an independent monetary authority to be known as the Bangko Sentral ng Pilipinas, its primary objective being the maintenance of price stability. This objective was only implied in the old Central Bank charter. The law also gives the Bangko Sentral fiscal and administrative autonomy which the old Central Bank did not have. On July 3, 1993, the New Central Bank Act took effect.

Within the complex of the Bangko Sentral ng Pilipinas, the nation's central monetary authority, resides a numismatist's haven - the Museo ng Bangko Sentral ng Pilipinas. Inaugurated on January 3, 1999, as part of the celebration of the 50 years of central banking in the Philippines, the Museo showcases the Bank's collection of currencies.

As repository and custodian of the country's numismatic heritage, the Museo collects, studies and preserves coins, paper notes, medals, artifacts and monetary items found in the Philippines during its different historical periods. These collections have been placed on permanent display at the Museo.

Designed to "walk" the visitor through a number of galleries, individually dedicated to a specific historical period of the country, the Museo visually narrates the development of the Philippine economy, parallel to the evolution of its currency. Complementary paintings from the BSP art collection, together with chosen artifacts, enhance each gallery.

A panoramic memorabilia of 50 years of central banking in the Philippines, showcases the strides made in bringing about price stability, to sustain economic growth in the country. The exhibition hall also carries the busts of the governors of the Central Bank/ Bangko Sentral.

Roles and responsibilities

As prescribed by the New Central Bank Act, the main functions of the Bangko Sentral are:
  1. Liquidity Management, by formulating and implementing monetary policy aimed at influencing money supply, consistent with its primary objective to maintain price stability,
  2. 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
    Legal tender
    Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....

     for all private and public debts,
  3. Lender of last resort
    Lender of last resort
    A lender of last resort is an institution willing to extend credit when no one else will. The term refers especially to a reserve financial institution, most often the central bank of a country, intended to avoid bankruptcy of banks or other institutions deemed systemically important or 'too big to...

    , by extending discounts, loans and advances to banking institutions for liquidity purposes,
  4. Financial Supervision, by supervising banks and exercising regulatory powers over non-bank institutions performing quasi-banking functions,
  5. Management of foreign currency reserves, by maintaining 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,
  6. Determination of exchange rate policy, by determining the exchange rate policy of the Philippines. Currently, the BSP adheres to a market-oriented foreign exchange rate
    Floating exchange rate
    A floating exchange rate or fluctuating exchange rate is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market. A currency that uses a floating exchange rate is known as a floating currency....

     policy, and
  7. Being the banker, financial advisor and official depository of the Government, its political subdivisions and instrumentalities and GOCCs.
  8. and be reasonably responsible for the faults of the people behind it get the blame of the opposition to which it is grouped.

Organization of the Bangko Sentral

The basic structure of the Bangko Sentral includes:
  • The Monetary Board, which exercises the powers and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system,
  • The Monetary Stability Sector, which takes charge of the formulation and implementation of the BSP’s monetary policy, including serving the banking needs of all banks through accepting deposits, servicing withdrawals and extending credit through the rediscounting facility,
  • The Supervision and Examination Sector, which enforces and monitors compliance to banking laws to promote a sound and healthy banking system, and
  • The Resource Management Sector, which serves the human, financial and physical resource needs of the BSP.


The powers and function of Bangko Sentral are exercised by its Monetary Board, whose seven members are appointed by the President of the Philippines. As provided for by the New Central Bank Act, one of the government sector members of the Monetary Board must also be a member of the President's Cabinet. Members of the Monetary Board are prohibited from holding certain positions in other government agencies and private institutions that may give rise to conflicts of interest. The members have fixed, overlapping, terms, except for the cabinet secretary representing the incumbent administration and it was the expansionary.

The current members of the Monetary Board are:
  • Amando M. Tetangco, Jr., Chairman
  • Cesar Purisima
    Cesar Purisima
    Cesar V. Purisima is the current Philippine Secretary of Finance. On June 29, 2010, President Benigno Aquino III picked him as his Secretary of Finance...

  • Peter Favila
  • Ignacio Bunye
    Ignacio Bunye
    Ignacio Rivera Bunye is a Filipino politician who is currently serving as the Monetary Board Member of the Bangko Sentral ng Pilipinas since July 3, 2008...

  • Juanita D. Amatong
  • Alfredo C. Antonio
  • Nelly F. Villafuerte

Convertible currencies

The Bangko Sentral has 18 currencies directly convertible with the Philippine Peso
Philippine peso
The peso is the currency of the Philippines. It is subdivided into 100 centavos . Before 1967, the language used on the banknotes and coins was English and so "peso" was the name used...

, which serves as a benchmark for all Philippine banks.
Australian Dollar
Australian dollar
The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...

 (AUD) Bahraini Dinar
Bahraini dinar
The dinar is the currency of Bahrain. It is divided into 1000 fils . The name dinar derives from the Roman denarius. The dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees = 1 dinar. The Bahraini dinar is abbreviated .د.ب or BD...

 (BHD) British Pound (GBP) Brunei Dollar
Brunei dollar
The ringgit Brunei or the Brunei dollar , has been the currency of the Sultanate of Brunei since 1967...

 (BND) Canadian Dollar
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...

 (CAD) Chinese Yuan
Chinese yuan
The yuan is the base unit of a number of modern Chinese currencies. The yuan is the primary unit of account of the Renminbi.A yuán is also known colloquially as a kuài . One yuán is divided into 10 jiǎo or colloquially máo...

 (CNY)
Euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...

 (EUR) Hong Kong Dollar
Hong Kong dollar
The Hong Kong dollar is the currency of the jurisdiction. It is the eighth most traded currency in the world. In English, it is normally abbreviated with the dollar sign $, or alternatively HK$ to distinguish it from other dollar-denominated currencies...

 (HKD) Indonesian Rupiah
Indonesian rupiah
The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. Informally, Indonesians also use the word "perak" in referring to rupiah...

 (IDR) Japanese Yen
Japanese yen
The is the official currency of Japan. It is the third most traded currency in the foreign exchange market after the United States dollar and the euro. It is also widely used as a reserve currency after the U.S. dollar, the euro and the pound sterling...

 (JPY) Korean Won
Korean won
The won was the currency of Korea between 1902 and 1910. It was subdivided into 100 chon .-Etymology:Won is a cognate of the Chinese yuan and Japanese yen.-History:...

 (KRW) Libyan Dinar
Libyan dinar
The dinar is the currency of Libya. Its ISO 4217 code is "LYD". The dinar is subdivided into 1000 dirham . It was introduced in 1971 and replaced the pound at par. It is issued by the Central Bank of Libya, which also supervises the banking system and regulates credit...

 (LYD)
Saudi Riyal
Saudi riyal
The Riyal is the currency of Saudi Arabia. It is abbreviated as ر.س or SR . It is subdivided into 100 Halalas . The Saudi Ghirsh is 5 Halalas.-History:...

 (SAR) Singapore Dollar
Singapore dollar
The Singapore dollar or Dollar is the official currency of Singapore. It is normally abbreviated with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies...

 (SGD) Swiss Franc
Swiss franc
The franc is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. Although not formally legal tender in the German exclave Büsingen , it is in wide daily use there...

 (CHF) Thai Baht
Thai baht
The baht is the currency of Thailand. It is subdivided into 100 satang . The issuance of currency is the responsibility of the Bank of Thailand.-History:The baht, like the pound, originated from a traditional unit of mass...

 (THB) United Arab Emirates Dirham
United Arab Emirates dirham
The dirham is the currency of the United Arab Emirates. The ISO 4217 code for the United Arab Emirates dirham is AED. Unofficial abbreviations include DH or Dhs. The dirham is subdivided into 100 ....

 (AED) United States Dollar
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

 (USD)

Microfinance

In 2000, the General Banking Law mandated the BSP to recognize microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....

 as a legitimate banking activity and to set the rules and regulations for its practice within the banking sector. In the same year, the BSP declared microfinance as its flagship program for poverty
Poverty
Poverty is the lack of a certain amount of material possessions or money. Absolute poverty or destitution is inability to afford basic human needs, which commonly includes clean and fresh water, nutrition, health care, education, clothing and shelter. About 1.7 billion people are estimated to live...

 alleviation. The BSP has then the prime advocate for the development of microfinance. To this end, the Bangko Sentral aims to:
  1. provide the enabling policy and regulatory environment,
  2. increase the capacity of the BSP and banking sector on microfinance operations, and
  3. promote and advocate for the development of sound and sustainable microfinance operations.

Anti-Money laundering

With money laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...

 being one of the perennial problems of the Philippines, the BSP has issued a number of measures to bring the Philippines' regulatory regime on money laundering closer to international standards. In September 2001, the Anti-Money Laundering Act (AMLA) signed into law and defined money laundering a criminal offense, prescribed penalties for such crimes committed and formed the foundation of a central monitoring and implementing council called the Anti-Money Laundering Council (AMLC). The AMLC is composed of the Governor of the Bangko Sentral as Chairman and the Commissioner of the Insurance Commission and the Chairman of the Securities and Exchange Commission as members. It acts unanimously in the discharge of its functions.

Governors

Term started Term finished Name
Governors of the Central Bank
1949 1960 Miguel Cuaderno, Sr.
Miguel Cuaderno, Sr.
Miguel Cuaderno, Sr. was the 17th Finance Secretary of the Philippines under Manuel Roxas and the first Governor of the Bangko Sentral ng Pilipinas from 1949 to 1960....

1961 1967 Andres Castillo
Andres Castillo
Andres Castillo was the second Governor of the Bangko Sentral ng Pilipinas from 1961 to 1967....

1968 1970 Alfonso Calalang
Alfonso Calalang
Alfonso Calalang was the 3rd Governor of the Bangko Sentral ng Pilipinas from January 1, 1968 to January 9, 1970....

1970 1981 Gregorio Licaros
1981 1984 Jaime C. Laya
Jaime C. Laya
Jaime C. Laya was the 5th Governor of the Bangko Sentral ng Pilipinas. He served from the years of 1981 to 1984. His term covered two significant points in Philippine history, the "election" that made Ferdinand Marcos have his third term and the assassination of Benigno S. Aquino, Jr. that...

1984 1990 Jose B. Fernandez, Jr.
Jose B. Fernandez, Jr.
Jose B. Fernandez, Jr. was the 6th Governor of Bangko Sentral ng Pilipinas. Under his term, he served two presidents and was the governor under one turbulent event - People Power Revolution of 1986....

1990 1993 Jose L. Cuisia, Jr.
Jose L. Cuisia, Jr.
Jose L. Cuisia, Jr. was the seventh Governor of the Central Bank of the Philippines, serving from 1990 to 1993....

Governors of the Bangko Sentral
Tagapangasiwa ng Bangko Sentral
1993 1999 Gabriel C. Singson
Gabriel C. Singson
Gabriel C. Singzon was the Governor of Bangko Sentral ng Pilipinas from 1993 to 1999. He was the first Governor of the BSP after former President Fidel V. Ramos signed the Republic Act 7653, otherwise known as New Central Bank Act, into law in 1993. Singzon has also served or currently serving...

1999 2005 Rafael B. Buenaventura
Rafael Buenaventura
Rafael Carlos Baltazar Buenaventura was a prominent banker in the Philippines and one-time governor of the Bangko Sentral ng Pilipinas ; he served under two Philippine presidents during one of the most tumultuous political transitions in the country’s history.Known for his fierce independence,...

2005 present Amando M. Tetangco, Jr.
Amando Tetangco, Jr.
Amando Tetangco, Jr. assumed office as Governor of the Bangko Sentral ng Pilipinas starting July 2005. He served two presidents - Gloria Macapagal Arroyo and Benigno Aquino III. He is a career central banker, occupying different positions in the organization in a span of over three decades...


The Security Plant Complex (SPC)

The Security Plant Complex (SPC) was formally established on September 7, 1978 to safeguard the printing/minting/refining, issuance, distribution and durability of coins, banknotes, gold bar
Gold bar
A gold bar is a quantity of refined metallic gold of any shape that is made by a bar producer meeting standard conditions of manufacture, labeling, and record keeping....

s, government official receipts, lottery tickets, internal revenue stamp
Revenue stamp
A revenue stamp, tax stamp or fiscal stamp is a adhesive label used to collect taxes or fees on documents, tobacco, alcoholic drinks, drugs and medicines, playing cards, hunting licenses, firearm registration, and many other things...

s, passport
Passport
A passport is a document, issued by a national government, which certifies, for the purpose of international travel, the identity and nationality of its holder. The elements of identity are name, date of birth, sex, and place of birth....

s, seaman identification record books, strip stamps
Postage stamp
A postage stamp is a small piece of paper that is purchased and displayed on an item of mail as evidence of payment of postage. Typically, stamps are made from special paper, with a national designation and denomination on the face, and a gum adhesive on the reverse side...

, official documents, registration certificates, Torrens title
Torrens title
Torrens title is a system of land title where a register of land holdings maintained by the state guarantees an indefeasible title to those included in the register...

s, treasury warrant
Warrant (finance)
In finance, a warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed exercise price until the expiry date....

s, stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...

s and bonds
Bond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...

, government contracts, ration coupons
Ration stamp
A ration stamp or ration card is a stamp or card issued by a government to allow the holder to obtain food or other commodities that are in short supply during wartime or in other emergency situations...

, official ballot
Ballot
A ballot is a device used to record choices made by voters. Each voter uses one ballot, and ballots are not shared. In the simplest elections, a ballot may be a simple scrap of paper on which each voter writes in the name of a candidate, but governmental elections use pre-printed to protect the...

s, election return forms, check
Cheque
A cheque is a document/instrument See the negotiable cow—itself a fictional story—for discussions of cheques written on unusual surfaces. that orders a payment of money from a bank account...

s and other security printing or minting jobs of the Philippine government. Later on, printing of official ballots and other public documents were transferred to the National Printing Office (NPO) pursuant to Executive Order No. 285 issued on July 25, 1987. On August 4, 2003, President Gloria Macapagal-Arroyo
Gloria Macapagal-Arroyo
Gloria Macapagal-Arroyo is a Filipino politician who served as the 14th President of the Philippines from 2001 to 2010, as the 12th Vice President of the Philippines from 1998 to 2001, and is currently a member of the House of Representatives representing the 2nd District of Pampanga...

 issued Administrative Order No. 79, it designates the SPC to be sole manufacturer of presidential medals and decorations.
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