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BSP Reaction

The document summarizes a visit by the author and other students to the Banko Sentral ng Pilipinas (BSP) in Albay. During the visit, BSP Albay presented videos about its goals of price stability, financial stability, and efficient payments and settlement systems. They discussed BSP's organizational structure, role in the economy and producing currency. BSP also advised that old currencies would be demonetized by year's end and must be surrendered, and that they help small businesses and communities manage money and avoid scams. Videos presented encouraged wise spending and saving, which was an eye-opener for the author about their own compulsive buying habits.

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Reymond Lovendino
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5K views1 page

BSP Reaction

The document summarizes a visit by the author and other students to the Banko Sentral ng Pilipinas (BSP) in Albay. During the visit, BSP Albay presented videos about its goals of price stability, financial stability, and efficient payments and settlement systems. They discussed BSP's organizational structure, role in the economy and producing currency. BSP also advised that old currencies would be demonetized by year's end and must be surrendered, and that they help small businesses and communities manage money and avoid scams. Videos presented encouraged wise spending and saving, which was an eye-opener for the author about their own compulsive buying habits.

Uploaded by

Reymond Lovendino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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LOVENDINO REYMOND N.

BSBA FM 4
BANKO SENTRAL NG PILIPINAS REACTION

The Banko Sentral ng Pilipinas is not just known as the bank of all banks here
in the Philippines but also known as the last resort of banks. Its already my
3rd visit at BSP Albay but its only my first time to visit their Library. BSP
always welcome students like us to visit their compound to know more about
them and how they function in circulating currencies in the economy. BSP
Albay presented a video all about them and their main goals, also the three
pillars of BSP which are the (1) price stability, (2) financial stability, and (3)
efficient payments and settlement system.
They also presented their Organizational Structure and who is their
current president. The video also discussed how they function in the
economy and the government as well as their Security Plant Complex which
is located in Quezon City, which they produce all the Philippine currency
either note and coins.
They also presented the design of the new currency that will be
circulated effective next year and advised that they will demonetize all old
currencies and must be surrendered to them before the year ends. Aside
from that, they also help small businesses and small rural communities on
how to manage their money and how they can detect if an investment plan
is a scam through seminars and consultations.
BSP Albay also presented other videos such as Jenny Ipon-Ipon on
how to spend our money wisely and encouraged us to save our money even
at our young age. Also they featured a PCSO employee who won the
sweepstakes but because he did not manage his money well he became poor
again. It was an eye opener to me because Im often times a compulsive
buyer, thats why Ill try to save and spend not beyond my means.

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