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Description
Flashcards by Maridave Mago, updated more than 1 year ago
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Created by Maridave Mago
almost 9 years ago
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| Question | Answer |
| serves as a catalyst in the countrys growth and development | Philippine Financial System |
| 2 major roles of Financial Institutions | * as participants, particularly in the money creation process * as intermidiaries in the savings-investment making |
| banks create money through | lending mechanism |
| Types of Banks (4) | Commercial Banks Specialized Government Banks Thrift Banks Rural Banks |
| offer a wide variety of services among financial institutions | Expanded Commercial Banks or Universal Banks |
| Unibanks can engage in (3) | * underwriting activities *equity investments in non allied undertaking *up to 100% equity investments in financial intermidiaries other than commercial banks |
| consist bulk of the financial system | Commercial Banks |
| By large and more commercial banks were allowed to be established since _____ | 1949 |
| Unique government banks that are subject to supervision and regulation of the BSP | Specialized Government Banks |
| Veterans Bank of the Philippines | established as a commercial bank |
| provides an opportunity for veterabs to work in the field of banking and finance, as depositors, borrowers as stock holders and officers | Veterans Bank of the Philippines |
| Two important Specialized Government Institution | DBP LBP |
| DBP | provide long term credit to finance private development projects 1946 - Rehabilitation Finance Corporation |
| 1946 | RFCorp. was established |
| Rehabilitation Finance Corporation | designed to provide long term finance for the rehabilitation of agriculture, industry, and property damage after WWII |
| Land Bank of the Philippines | early 1970's financial arm of the land reform program |
| Philippine Amanah Bank | mid 1970's designed to serve the banking needs of the Muslim areas in the South |
| Thrift Bank Act of 1995 | peovided for establishment, operation and supervision of thrift banks to include savibgs and mortgage banks, private development banks, ans stock and savings and loan associations |
| Savings and Mortgages Banks (SMBs) | organized primarily to accumulate savings of depositors and to invest them together |
| the most ovious of a thrift bank | Savings Bank |
| example of a thrift bank | Banco Filipino |
| 2 major innovations undertaken in the PFS | creation of small ruralor town units thatvdid not have the services provided by joemal banking institutions |
| Small Private Banks | Rural Bank Cooperatives Peivate Development Banks |
| Rural Bank Cooperatives | promote comprehensive development with the end in view of attaining a more eqitable distribution of opportunities, income, wealth and sustained increase in the amount of goods and services |
| Private Developmet Banks | modeled to serve like DBP cater particularly to thee medium and long term financing needs of Filipino entrepreneurs |
| BANKING LAWS | New CB Act Thrift Banks Act of 1995 Cooperative Code of the Ph Aavings and Loan Associations Act R.A. 7721 |
| R.A. 7721 | liberized entry and scope of operations of foreign Banks in the Philippines |
| BSP | provides policy directions in the areas of money, banking and credit |
| Objectives of BSP (2) | * Maintain Price stability conducive to a balanced and sustatinable growth in the economy * To promote and maintati monetary atabiljty and convertibility of peso to other freely convertible currency |
| BSP supports activities that serve to strengthen the country's linkages with the world economy by: | * helping create a stable environment * promoting liberal foreign exchange rules * enchancing access to local and foreign capital support ro investments |
| Philippine Deposits Insurance Corporation (PDIC) | official insurance company of the banking system |
| Securities and Exchange Commission (SEC) | issues certificate of incorporation to financial corporation, votes on and approves amendments thereto, discharges functions in connection with the licensing of financial companies and investment houses |
| Commonwealth Act No.83 | Securities Act SEC was established on October 26, 1936 |
| SEC operations begun | Nov 11, 1936 Commissioner Ricardo Nepomuceno |
| P.D. No. 902-A | the commission shall have powers and functions provided by Securities Regulation Code, as amended, the Corp. Code, the Investment Houses Law, the Financing Company Act, and other existing laws |
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