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Bangko Sentral ng Pilipinas (BSP)
Reference entry · last updated 20260910
Bangko Sentral ng Pilipinas (BSP) is the central bank of the Philippines. Its primary objective is price stability conducive to balanced and sustainable economic growth.[1]
1. First principles: central banking
A central bank manages a country’s monetary system. BSP formulates monetary policy, issues Philippine currency, manages international reserves, and supervises banks and certain non-bank financial institutions.[1]
2. Role in payments
BSP oversees Philippine payment and settlement systems. The National Retail Payment System (NRPS) sets the framework for retail payments between participating institutions.[2]
BSP also operates PhilPaSSplus, the peso settlement system. Participating institutions use central-bank accounts to discharge payment obligations. This institutional settlement is distinct from the balance shown in a customer’s banking app.[3]
3. Retail payment context
InstaPay and PESONet are retail payment arrangements under NRPS.[2]
4. See also
- National Retail Payment System (NRPS)
- PhilPaSSplus (Philippine Peso Settlement)
- InstaPay (Philippines)