New Central Bank Act No. 7653


(enacted in 1993)

New Central Bank Act No. 7653 of 1993 is the governing document of the Bangko Sentral Ng Pilipinas. The act governs the creation, responsibilities, governance, and operations of the Bangko Sentral Ng Pilipinas. 

The act is organized as follows:

  • Creation, Responsibilities and Corporate Powers;
  • Monetary Board;
  • Governor and Deputy Governors of the Bangko Sentral;
  • Operations of the Bangko Sentral;
  • Reports;
  • Profits, Losses and Special Accounts;
  • Auditing functions;
  • Monetary Unit;
  • Currency;
  • Monetary Stabilization;
  • Instruments of Action;
  • Operations of Gold and Foreign Exchange;
  • Regulation of Foreign Exchange Operations of the Banks;
  • Loans to Banking and other Financial Institutions;
  • Open Market Operations;
  • Bank Reserves;
  • Selective Reguation of Bank Operations;
  • Coordination of Credit Policies;
  • Functions as Banker and Financial Advisor of the Government; and
  • Marketing and Stabilization of Securities.