Monetary Board Chairman and Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. (center) administers the oath of office of Atty. Raul Boncan (third from left) as member of the Monetary Board, the policy making-body of the BSP. His first term covered January 2005 to July 2008. Atty. Boncan's reappointment completes the MB which has seven members. Witnessing the oathtaking are (from left) Monetary Board members Alfredo Antonio, Nelly Favis-Villafuerte, Juanita Amatong, Trade & Industry Secretary Peter Favila, and Ignacio Bunye.