Call Girls Service Pune ₹7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...
History of philippine banking ( and kinds of checks )
1. History of Philippine Banking
Obras Pias
A charity foundation by laymen used for charity
works and religious activities. It became a
banking institution run by the friars.
2. Rodriguez Bank
• One of the first banks to emerge in the 19th
century. It was more of a loan association
than a modern bank.
6. Monte de Piedad
• First mutual savings established in 1882
• A Spanish Franciscan friar Felix Huertas was
the prime mover in convincing the Archbishop
of Manila and the Governor-General to
establish a bank especially for the poor.
• The original name in Spanish was Monte de
Piedad y Caja de Ahorros.
• It was bank and a pawnshop.
7. • 1994 closed and re-opened as Keppel Bank
• 2005 bought and renamed by GE
8. • Established 1851, it was the first state bank.
• It was renamed Bank of the Philippine Island
in 1912
Banco Espanol-Filipinas de Isabel II
10. Philippine National Bank
• First agricultural bank,
established in 1916
• PNB has also functioned as the
de facto Central Bank of the
Philippines until 1949. It was
given the special power to issue
circulating notes
• The first universal bank in the
Philippines (1980)
13. Notes on the BSP
• The BSP actually started out as the Central bank of the Philippines established in January 3,
1949 as the Philippines’ Central Monetary Authority.
• In accordance with the pursuant of the 1987 constitution, the Central Bank of the Philippines
was re-chartered in July 3, 1993 and was renamed as the Bangko Sentral ng Pilipinas.
• The BSP’s primary objective is to maintain price stability, financial stability and economic
stability.
• Main functions of the BSP:
1. Liquidity management. The BSP is responsible for liquidity management by formulating
and implementing monetary policy aimed to influence the supply of money. The BSP may
decide to contract or expand the economy. Consistent with its primary objective the BSP
stands on its three pillars: price stability, financial stability, and economic stability.
2. Lender of last resort. The BSP is also the lender of last resort to banks facing bankruptcy.
3. Currency Issue. The BSP has the exclusive power to issue the national currency.
4. Financial Supervision. The BSP supervises banks and exercises regulatory powers over non-
bank institutions performing quasi-banking functions.
• The current BSP is headed by the BSP Governor Mr. Amando M. Tetangco Jr.
14.
15. Functions of a Commercial Bank
• Collection function
• Paying function
• Loaning function
• Receiving function
• Trust
16.
17. Kinds of Deposits
• As to source:
• A. Private
• B. Government
• As to withdrawals:
• A. Demand deposit
• B. Savings deposit
• C. Time deposit
18. Kinds of Accounts
• Individual account
• Survivorship account
• Joint account
• Partnership or Corporation account
19. Checks
• A written order to a bank from the depositor
to pay the bearer an amount of money.