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About The Bank

About the Bank

BSP Citizen's Charter

1.

Access to Economic and Financial Information, Library Resources and Learning Services

Provide free access to current and /or historical economic and financial data/informaiton

   

2.

Prior BSP Approval of Foreign/Foreign Currency Loans.and their Subsequent Registration

The BSP approval serves as authority for the client to finalize negotiations with the prospective creditor/s, sign covering agreements, and draw on the proposed loan. On the other hand, the BSP registration authorizes the client to purchase foreign exchange (FX) from authorized agent banks (AABs) and AAB-foreign exchange corporations (forex corps) for loan payments for amounts on due dates indicated in the Bangko Sentral Registration Document (BSRD)

   

3.

Registration of Foreign/Foreign Currency Loans not requiring prior BSP Approval

The BSP registration authorizes the client to purchase foreign exchange from AABs and AAB-foreign exchange corporations (forex corps) for loan payments on scheduled due dates indicated in the BSRD

   

4.

 

Registration of Inward Foreign Investment

The BSP registration authorizes the client to purchase foreign exchange from Authorized Agent Banks (AABs) and AAB-foreign exchange corporations (forex corps) for capital repatriation or remittance of cash dividends/profits/earnings accruing on said foreign investments.

   

5.

Servicing of Bank Withdrawals

The BSP releases cash withdrawal of notes and coins for debit to client banks’ demand deposit accounts with the BSP.

   

6.

Servicing of Bank Deposits and Subsequent Verification

The BSP Cash Department (CD) receives and keeps in custody banknotes and coins  currency deposit   for credit to  client banks'   demand deposit   account,   pursuant to MAAB#2015-006 dated 23 January 2015. Bank Deposits must be sorted by series and denomination.

   

7.

Sale of Commemorative Notes and Coins

The BSP sells Commemorative Notes and Coins to the General Public.

   

8.

Redemption of Mutilated Notes/Coins Through Cash Payment

Examination of mutilated Philippine Peso notes and coins as to their genuineness and redemption value

   

9.

Examination of Doubtful Currency Notes for Issuance of Certification

Examination of doubtful notes as to their genuineness, for issuance of certification

 

 

10.

Issuance of Permit to Reproduce or Use Facsimiles of Legal Tender Philippine Notes and Coins

BSP approval is required by law for the reproduction of facsimiles of legal tender Philippine currency for promotional purposes in all print and broadcast media

   

11.

Availment of the BSP Rediscounting Facility

Rediscounting is a prividege of a qualified bank to obtain loans or advances from the BSP using eligible papers of its borrowers as collaterals. Rediscounting Line establishes the maximum balance of rediscount that can be maintaned with the BSP. Electronic Rediscounting System (eRS) allows qualified banks to conduct their rediscounting transactions and inquiries with the BSP on an on-line and real-time basis at the convenience of their bank premises.

   

12.

Sale of Real Properties Acquired by the BSP Through Foreclosure/Dacion en Pago

The Asset Management Department (AMD) is tasked to preserve and eventually dispose of the properties acquired by the BSP through foreclosure or dacion en pago arrangements from its debtor-banks in settlement of their loans.

   

13.

Lease of Real Properties of the BSP

The BSP offers properties not yet disposed of for lease to the public to save the BSP administration expenses for security and maintenance of the properties.

   

14.

Redemption of Mutilated Currencies and Referral to Currency Issue and Integrity Office (CIIO)

BSP replaces or redeems notes and coins considered unfit for circulation or mutilated pursuant to R.A. No. 7653 and Circular No. 829, series of 2014

   

15.

Integrated Regional Information System (IRIS) user ID Registration and Recertification

IRIS registration allows client banks to engage in electronic transactions with the BSP regional offices and branches

   

16.

Servicing and Verification of Deposits of Client Banks

BSP receives and takes custody of subject-to-verification (SV) currrency banknote and coin deposits of client banks for credit to their demand deposit account. Deposit transactions must have been entered in IRIS by client banks prior to actual deposit of currencies to BSP

   

17.

Servicing of Withdrawals of Client Banks

BSP releases currency banknotes and coins to service the withdrawals of client banks for debit from ther demand deposit account. Withdrawal transactions must have been entered in IRIS by client banks at least one (1) working day prior to actual withdrawal of currrencies from BSP.

   

18.

Purchase of Gold from the General Public

The BSP purchases gold from the general public who comply with the BSP Responsible Gold Sourcing Policy.

   

19.

Access to Economic and Financial Information, Library Resources and Learning Services in the BSP Regional Offices and Branches

BSP provides the general public free access to currenct and/or historical economic and financial data/information

   

20.

Grant of Authority to Establish a New Domestic Bank/Non-Stock Savings and Loan Association (NSSLA)

Processing of client's request for approval to establish a new domestic bank/NSSLA

   

21.

Grant of Authority to Establish a Domestic Branch of a Local Bank/Non-Bank Financial Institution

Processing of client's request to establish a domestic branch of a local bank/NBFI

   

22.

Grant of Emergency Loan Facilitiy

Processing and evaluation of applications for emergency loans

   

23.

Registration of Foreign Exchange (FXDs), Money Changers (MCs) and Remittance Agents (RAs)

Processing of clients's applications for the issuance of Certificate of Registration for FXD/MC and RA

   

24.

Registration of Pawnshops

Processing of clients's applications for the issuance of any of the following: (1) Acknowledgement of Registration/ (AOR) for Pawnshop Head Office; (2) Authority to Operate (AO) for Pawnshop Branch

   

25.

Grant of Authority to Engage in Electronic Banking (E-Banking) Services

Processing of client's request to engage in e-banking services

   

26.

Extend Initial Assistance to Clients with Complaints on the Financial Products and/or Services of BSP-Supervised Financial Institutions (BSFI)

Refer complaints to Senior Management of BSFIs

   

27.

Provide Assistance for Further or Alternative Dispute Resolution for Clients who Remain Dissastisfied with BSFIs Initial Comments/Explanation/Action on Initial Referral

Dissatisfied clients are informed of possible venues for addressing their complaint or settling the dispute

   

28.

BSP Museum Tours

Exhibit about Money, the BSP and the Evolution of Philippine Currency

   

29.

Sell BSP Publications and Corporate Gifts

Sell BSP publications and corporate gifts

   

30.

Mediation of Administrative Cases Involving Directors and Officers of Banks, Quasi-Banks and Trust Entities

Conducting mediation proceedings to help resolve disputes between the public complainants and the directors and officers of banks, quasi-banks and trust entities in relation to BSP Circular No. 477, s. 2005. The complaint must be media table. A complaint is media table if it is not a patent violation of banking laws, rules and regulations.

   

31.

PhilPaSS Participant Browser User Registration

The PhilPaSS Participant Browser is a web-based facility that will provide the participant banks easier and faster access to PhilPaSS, in order that they can effectively monitor and control their daily real time gross settlement system transactions on a real time basis.

   

32.

 

Participation in the PhilPaSS/REMIT System

PhilPaSS REMIT is a system that provides an efficient interbank clearing facility for the settlement of OFW remittances for credit to other banks via the RTGS otherwise known as Philippine Payments and Settlements System (PhilPaSS), which is owned and operated by the BSP. It was developed and implemented by BSP to actualize its advocacy to help the OFWs and to encourage them to use the formal banking channel for safer aand more efficient sending of their hard-earned money to their relatives back home.

   

33.

Participation in the Philippine Payments and Setttlements System (PhilPaSS)

The PhilPaSS is a payments and settlements systems and participation thereto will ensure prompt, final, efficient payments and settlements of banks/non-banks/other government agencies transactions with high degree of security and operational reliability

   

34.

PhilPaSS Smart Card Registration

The smart cards are stored digital certificates that provide users with authorization access to the PhilPaSS Participant Browser (PPB). These card users are bank officers who are authorized by their respective banks to approve payments instructions for settlement in PhilPaSS; including resetting of user-passwords. Such authorizers will not be able to log-on to the PPB without the smart card. Public Key Infrastructure technology is used to register/configure the smart cards.

   

35.

Security Plant Complex Gold-Buying Program

Purchase of Gold from the General Public (SPC)

   

36.

SPC Gallery Tours

Guided gallery tours of SPC showcasing currency production, minting, and gold refining

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