The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Philippines, responsible for maintaining monetary stability and promoting a sound financial system. Established in 1993, it aims to ensure price stability, manage inflation, and regulate the banking sector to foster economic growth. The BSP also oversees the issuance of the Philippine peso and manages the country’s foreign exchange reserves. Additionally, it plays a crucial role in implementing monetary policy and safeguarding the stability of the financial system, which includes regulating banks and other financial institutions in the country.