BSP is set to fill up the 5th slot for the position of deputy governor.
BSP — The Bangko Sentral ng Pilipinas is set to fill up the 5th slot for the position of deputy governor in order to take charge of the central bank’s expanding presence across the Philippines.
On Friday, Monetary Board member Bruce J. Tolentino said that the new yet-to-be-named deputy governor “will take on key tasks” not covered by the other 4 existing deputy governors such as overseeing BSP’s 13 infrastructure projects, its own “Build, Build, Build” undertaking.
Manila Bulletin reported that 3 of the 13 projects worth PHP 504.32 million will be completed this year.
According to Tolentino, appointing another deputy governor will reduce the “too many functions” that are currently reporting directly to the Office of the Governor.
“The new DG (deputy governor) will take on key tasks like the many regional offices and key infrastructure-related projects,” Tolentino said in a text message obtained by Manila Bulletin.
The revised BSP Charter or Republic Act No. 11211 (“The New Central Bank Act”) was signed into a new law in 2019.
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A month later, Macalanang appointed Benjamin E. Diokno, the budget secretary at the time, as the central bank’s 5th governor following the passing of the late Governor Nestor A. Espenilla Jr. Under Espenilla and now Diokno, the central bank has undergone a reorganization and expansion.
Previously, the central bank only has 3 deputy governors. Under the new BSP law, the Bangko Sentral ng Pilipinas is allowed to have up to 5 deputy governors.
At present, the central bank has 4 deputy governors: Chuchi G. Fonacier for the financial supervision sector, Francisco G. Dakila Jr. for the monetary and economics sector, Eduardo G. Bobier for the corporate services sector, and Mamerto E. Tangonan for the payments and currency management sector.
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