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Publications and Research

Regular Publications

Note: The data series contained are updated as of the date of release of said report/publication. For more recent updates/revisions on selected indicators, please visit the SDDS page and the Key Statistical Indicators page.


Annual Report
The Annual Report (AR) is submitted annually to the President of the Philippines and the Congress highlighting the major developments in the Philippine economy and the key activities, policies and operations of the BSP during the year.

Annual Report for the Layman
This version of the Annual Report is published by the BSP in terms understandable to the layman.

Inflation Report
The Inflation Report (IR) is published quarterly as part of the BSP's transparency mechanism under inflation targeting and to convey to the public the overall thinking and analysis behind the BSP's decision on monetary policy.

Report on the Philippine Financial System
The Report on the Philippine Financial System is a comprehensive assessment of major developments in the Philippine financial system during the semester.

Financial Inclusion in the Philippines
The Financial Inclusion in the Philippines is a quarterly publication aimed to increase public awareness and appreciation of the BSP's initiatives in financial inclusion, the state of financial inclusion in the Philippines, as well as the new developments and emerging issues in both domestic and global contexts.

Financial Stability Report (FSR)
The FSR is an annual publication that provides a thematic approach and an in-depth analysis of recent developments and potential risks that may have financial stability implications to the Philippine financial system.

Balance of Payments Report
The Balance of Payment (BOP) Report contains a comprehensive analysis of the developments in the country’s balance of payments including the current account (i.e., trade-in-goods and services, income, and current transfers) and the capital and financial account (i.e., direct, portfolio and other investments). Also included are brief discussions on the country’s gross international reserves and exchange rate.

International Investment Position
The International Investment Position (IIP) is a companion framework to the Balance of Payments (BOP) statistics. While the BOP is a statistical statement that records the country’s transactions or flows with the rest of the world for a given period, the IIP summarizes the country’s stock of financial claims on and financial liabilities to the rest of the world as of a specific reporting period.

Philippine Flow of Funds
The Philippine Flow of Funds (FOF) presents the financial transactions among the different institutions of the economy, and between these institutions and the rest of the world; also shows which institutions are net lenders and net borrowers in the series of transactions.

Quarterly Report on Economic and Financial Development
The Quarterly Report on Economic and Financial Development is a quarterly report which outlines the major developments in the real, monetary and fiscal sectors of the Philippine economy.

Report on Regional Economic Developments
The Report on Regional Economic Developments in the Philippines tracks economic activities in the regions, focusing on the demand and supply conditions, price developments and monetary conditions, as well as the emerging outlook. Analysis of regional trends and developments supplements BSP’s analytical tools for monetary policy formulation and financial supervision. Qualitative and quantitative information used in the report are collected from primary and secondary sources and reflect the extensive information gathered by the BSP regional offices and branches.

Think Growth. Think Philippines
The quarterly newsletter carries articles and information about the Philippine economy, including economic statistics, policy reforms, major infrastructure development projects, credit rating updates, investor relations activities, and outlook on the Philippine economy.


Daily Key Statistical Indicators Report
The daily key statistical indicators report contains data on selected domestic and foreign interest rates, commodity prices of sugar, coconut oil, gold and silver, and Peso-Dollar exchange rates.

Reference Exchange Rate Bulletin
The Reference Exchange Rate Bulletin contains the weighted average rates of selected currencies.

Selected Economic and Financial Indicators
The Selected Economic and Financial Indicators (SEFI) is a weekly compilation of various indicators on output, employment and wages, prices, money and interest rates, external indicators and public finance.

Monthly Selected Philippine Economic Indicators
The Monthly Selected Philippine Economic Indicators (SPEI) is a monthly compilation of various statistical tables on external accounts, financial system, fiscal, prices, and other real sector accounts.

Factbook: The Philippine Banking System
A two-volume compilation of various information and statistical data of the BSP Supervised Financial Institutions such as Physical Network and Directory, Aggregated Balance Sheet and Income Statement, Regional Distribution of Selected Accounts, individual Published Balance Sheet of Universal/Commercial/Thrift Banks and Summary Report on Compliance with Agri-Agra and MSME.

Annual Report Volume II - Statistical Bulletin
The Statistical Bulletin contains statistical data relating to economic areas covering money, banking, credit and investment, public finance, foreign exchange transactions; balance of payments and external debt; production, construction and public utilities; and prices. The series presented in this report may be used as indicators of the impact of policies and measures adopted by the Monetary Board and in support of the analysis of the economic and financial developments discussed in the Annual Report text. The Statistical Bulletin is published in compliance with Article V, Section 40 of the New Bank Act (R.A. 7653).

Residential Real Estate Price Index (RREPI)
RREPI is an indicator of change in the prices of residential properties in the Philippines over a period of time. The growth of the index measures the house price inflation.


Business Expectations Survey
The Business Expectations Survey (BES) reports the overall sentiments and prospects/outlook of the businesses during the reference period.

Consumer Expectations Survey Report
The Consumer Expectations Survey (CES)captures the economic outlook of consumers as an indication of the country's future economic conditions.

Consumer Finance Survey
The Consumer Finance Survey (CFS) generates data on the financial conditions of households, including what they own (financial and non-financial assets) as well as from whom and how much they borrow (sources of credit and level of indebtedness). It also generates data on the income, spending and insurance coverage of households. The survey results also provide a breakdown of respondents residing in the National Capital Region (NCR) and in Areas Outside the National Capital Region (AONCR).

Senior Bank Loan Officers' Survey
Report on the results of the quarterly Senior Bank Loan Officers' Survey conducted by the BSP to enhance its understanding of banks’ lending behavior, which is an important indicator of the strength of credit activity in the country.

Survey of IT-BPO Services Report
The report on the Survey of IT-BPO Services, formerly known as the Survey of IT and IT-Enabled Services, provides information on the economic contribution of IT and IT-Enabled services based on a survey conducted by the BSP. The survey covers member-firms of the different information and communication technology (ICT) associations and firms registered with attached agencies of the Department of Trade and Industry, namely, the Philippine Economic Zone Authority and the Board of Investments.

Coordinated Portfolio Investment Survey
The Coordinated Portfolio Investment Survey (CPIS) reports an annual survey on residents’ holdings of foreign-issued equities and long- and short-term debt securities. CPIS is a global undertaking spearheaded by the International Monetary Fund (IMF) in coordination with participating countries worldwide to improve statistics on holdings of external portfolio investment assets and promote international data comparability.

Philippine Banking Sector Outlook Survey
The Banking Sector Outlook Survey (BSOS) serves as a complimentary tool in validating the assessments of banking supervisors.


BSP Working Paper Series
The BSP Working Paper Series constitutes studies relevant to central banks, which are conducted by BSP researchers and occasionally, in collaboration with external contributors. The working papers are reviewed by the Editorial Committee, led by the Deputy Governor of the Monetary and Economics Sector.

Completed working papers are published annually for the purpose of soliciting comments and discussion for further refinements. The views and opinions expressed are those of the author(s) and do not necessarily reflect those of the Bangko Sentral ng Pilipinas. Authors keep the copyright and hence, improved versions of working papers may be submitted to peer-reviewed journals at any time.

BSP International Research Conference Volume
The BSP International Research Conference Volume is the compendium of all research papers presented during the BSP International Research Conference.

BS Review
The BS Review serves primarily as a forum for presenting the research findings of BSP staff; includes analytical and policy-oriented research articles on various economic, financial and statistical issues of interest to the BSP.

BSP Economic Newsletter
The BSP Economic Newsletter aims to provide to the BSP community and the public a readily accessible, up-to-date, concise and reader-friendly compendium of studies on current economic and financial issues.


Manual of Regulations for Banks
The Manual of Regulations for Banks (MORB) is the primary source of regulations governing entities supervised by the Bangko Sentral ng Pilipinas. It provides the rules and policy issuances that implement the broader provisions of Republic Act No. 8791, also known as the General Banking Law of 2000, as wella s other pertinent banking laws.

Manual of Regulations for Non-Bank Financial Institutions
The Manual of Regulations for Non-Banks Financial Institutions (MORNBFI) consolidates Philippine rules and policy issuances governing quasi-banks, investment houses, non-stock savings and loan associations and pawnshops in the country.

Manual of Regulations on Foreign Exchange Transactions
The Manual of Regulations on Foreign Exchange Transactions is a consolidation of all regulations governing foreign exchange transactions. This Manual replaces Circular No. 1389 dated 13 April 1993, as amended, which was the first consolidation of foreign exchange regulations. This is an enhanced and complete version of Circular No. 1389, as amended, as it incorporates all amendments made since 1993 and consolidates all regulations on foreign exchange and related transactions.


BSP Comic Series
The BSP Comic Series, produced by the Economic and Financial Learning Center, explains economic and financial concepts through the adventures of teenage friends David and Milo.

InfoSeries on Central Banking
The Economic and Financial Learning Center (EFLC) regularly feature various central banking topics as exhibit panels in its premises. To make the information more widely available, previously exhibited materials are now available for download.


Directory of Philippine Exporters
A ready reference and easy guide to foreign buyers of Philippine products, local suppliers of exporters, foreign investors, government agencies, commercial banks and the interested public in general.