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BSP Wins Award From the Asian Banker as the Best Macroeconomic Regulator in Asia Pacific

05.20.2016

BSP Wins Award From the Asian Banker as the Best Macroeconomic Regulator in Asia Pacific

The Bangko Sentral ng Pilipinas (BSP) was awarded The Best Macroeconomic Regulator in Asia Pacific by The Asian Banker for the 2nd time.  The Asian Banker Regulation and Supervision Awards Programme evaluates and recognizes the achievements of central banks and banking regulators in fulfilling their varied roles of managing macroeconomic performance, in terms of maintaining inflation and price stability; systemic and prudential regulation to ensure soundness and stability of the financial system; and conduct of business regulation to engender professional conduct and ethical practices amongst financial services providers as well as fair treatment of consumers.  The award was presented by United States Congressman Barney Frank, former Chairman of the US House Financial Services Committee.  Also present were Nguyen Thi Hong, Deputy Governor of the State Bank of Vietnam; and Cesar Virata, a member of the advisory council that decides on the award, and the former prime minister of the Philippines. 

Monetary Policy Sub-Sector (MPSS) Managing Director Francisco G. Dakila, Jr. (leftmost) represented the BSP during The Asian Banker Awards Dinner in Hanoi, Vietnam last 10 May 2016. He presented the plaque to BSP Governor Amando M. Tetangco, Jr. (center) along with (from left) Deputy Governors Nestor A. Espenilla, Jr., Diwa C. Guinigundo, and Vicente S. Aquino. The Asian Banker believes that the BSP and the progress it has made in the years under review has brought the central bank a step closer to the realization of a world-class monetary authority, and a catalyst for a globally competitive economy and financial system.  Specifically, the BSP has been commended for achieving low and stable inflation and effectively stabilizing the domestic currency.

Governor Tetangco acknowledged the collective effort of the staff of the BSP to ensure that monetary policy remains robust and responsive to threats of price stability while promoting sustainable growth of the Philippine economy.  He affirmed that the BSP shall remain watchful of unfolding developments in the Philippines and overseas to calibrate responses in a timely manner, and continue to find better ways of conducting central banking policies.

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