Senior Assistant Governor

ELMORE O. CAPULE Official Photo


Senior Assistant Governor and General Counsel (SAGGC)
Office of the General Counsel and Legal Services

Senior Assistant Governor and General Counsel (SAGGC) Elmore O. Capule, who placed third in the 1987 Bar Examinations, joined the Bangko Sentral ng Pilipinas (BSP) in 1994 as Bank Attorney.

Since then, he held several positions in the BSP and was appointed General Counsel in 2013. In recognition of his accomplishments and consistent exemplary performance, the BSP designated him as Assistant Governor in 2016 and as Senior Assistant Governor in 2019.

SAGGC Capule headed various committees in the BSP, including the Bids and Awards Committee and Committee on the Disposal of Real Properties.

SAGGC Capule also played major roles in the publication of three BSP law books: as Editor-in-Chief of the first book titled “The Banking Laws of the Philippines, The New Central Bank Act”; as Editor-in-Chief of the second book titled “The General Banking Law Annotated”; and Executive Editor of the third book titled “Special Banking Laws Annotated.” He was also co-author of articles in the publications titled “The Story of Philippine Central Banking” (2019) and “BSP Unbound” (2020).

Given his extensive background in law, he served as resource speaker and subject matter expert in several seminars and training programs for bankers offered by the Bankers Institute of the Philippines, for judges organized by the Philippine Judicial Academy, and in the Mandatory Continuing Legal Education seminars for lawyers. SAGGC Capule also served as resource person in international seminars hosted by the Federal Reserve Bank of New York, Forum for Asian Insolvency Reform, and IMPST (Indonesia, Malaysia, Philippines, Singapore, and Thailand) Meeting with the general counsels of the legal departments of other central banks in the Southeast Asian region.

He attended a number of foreign training programs, seminars, and meetings hosted by the International Monetary Fund-World Bank, Bank of International Settlements, Federal Bureau of Investigation, University of Washington, Banque de France, New York Institute of Finance, South East Asian Central Banks Research and Training Center, Asia Pacific Group on Money Laundering, and Center for Latin American Monetary Studies, among others.

As Head of the BSP Legislative Team, he marshalled BSP’s efforts to pass major legislations, such as the law amending The New Central Bank Act (Republic Act No. 11211), the National Payment Systems Act (Republic Act No. 11127), the law strengthening the country’s gross international reserves (Republic Act No. 11256), the Islamic banking law (Republic Act No. 11439), the Financial Institutions Strategic Transfer Act (Republic Act No. 11523), and the Financial Products and Services Consumer Protection Bill (Republic Act No. 11765). SAGGC Capule also spearheaded the approval of significant BSP-initiated/sponsored bills, such Agri Agra Bill, and Philippine Deposit Insurance Corporation Charter Amendments.

SAGGC Capule teaches Banking Laws at the Ateneo de Manila University School of Law. He also used to teach law at the Far Eastern University Institute of Law.

SAGGC Capule earned his Bachelor of Science in Agricultural Business degree from the University of the Philippines Los Baňos and his Bachelor of Laws degree from the Ateneo School of Law.