Presentation Transcript

1. KEYNOTE MESSAGE

   International Commercial Cash Operations Seminar (ICCOS) Manila, 16 October 2012 Deputy Governor Juan D. De Zuñiga, Jr. BangkoSentralngPilipinas
2. CASH DEPT./ REGIONAL MONETARY AFFAIRS CURRENCY FLOW CURRENCY ISSUE & RETIREMENT Places orders for new currency BANKNOTES PRINTING /MINT CURRENCY ISSUE & RETIREMENT BANKS PUBLIC Delivers new notes/coins Issues new notes/coins Issues new notes/coins Issues fit currency CASH DEPT REGIONAL MONETARY AFFAIRS Submits doubtful / mutilated currency Transfers unfit note deposits for verification/ retirement Deposits fit/unfit currency Deposits currency
3. Location of BSP Regional Offices/ Branches Three (3) Regional Offices San Fernando City Cebu City Davao City
4. Location of BSP Regional Offices/ Branches Eighteen (18) Regional Offices
5. Location of BSP Regional Offices/ Branches In terms of geographical location, the BSP has presence in thirteen (13) administrative regions of the country.
6. Regional branches - functions Ensure adequate availability of BSP services across the country; Serve as an effective channel of information for the Bank in the countryside; and Perform regional economic and non-economic surveillance as inputs in monetary policy formulation
7. A BSP branch… Performs cash operations and currency management services to bank branches in its area Provides auxiliary/support services such as administrative, personnel, financial accounting, security and transport, property, building maintenance and information management.
8. Currency Requirements of Regional Branches/ Offices The Regional Monetary Affairs Sub-sector, together with the Currency Management Sub-Sector, submits to Management projected currency requirements. Upon review and approval, these are translated into currency orders and are referred to the currency manufacturing units for production.
9. Currency Requirements of Regional Branches/ Offices (cont’d) Projected cash requirements are determined after due consultations with banks within their area of coverage. These are the bases for the regular cash requisitions of the BSP branches. Branches are required to maintain a manageable currency level.
10. Distribution of Currency to Regional Branches/ Offices (cont’d) Currency movements to the Central Luzon are conducted through use of land transportation facilities. Regional offices are responsible for transporting cash requirements of branches.
11. Distribution of Currency to Regional Branches/ Offices (cont’d) Higher-denominated banknotes chartered aircrafts Lower-denominated notes and coins cargo services of accredited commercial airlines Lower denominated notes and coins to certain Visayas and Mindanao branches commercial shipping lines
12. FILIPINO CUSTOMS REGARDING MONEY How does money figure in the lives of the Filipinos?
13. How does money figure in life in the Philippines? At some wedding receptions, guests pin bills on the bride and groom during their first dance as a married couple.
14. How does money figure in life in the Philippines? Ambulant vendors and conductors of public buses clip folded bills in between their fingers closely pulled together. This serves like a portable cash register where bills are sorted for ease in giving change to passengers paying bus fares
15. How does money figure in life in the Philippines? Drivers of jeepneys tightly roll their bills like cigarettes and stick them in the ceiling or dashboard of the jeepney to serve as a cash register.
16. How does money figure in life in the Philippines? When market stall owners make their first sale of the day, they lightly shake the bills received in payment over their merchandise, so they will have good sales for the rest of the day.
17. BSP’s Advocacies Clean Note Policy Reward System Coin Recirculation Program
18. briefing with the transport groups
19. Future Plans The BSP envisions to further improve its service level, expand its operation, and offer a more efficient cash management service. Three (3) main objectives: 1. Elevate the level of cash management services to banks; 2. Strive to a more efficient and cost effective cash management system; and 3. Ensure the sustained implementation of our Clean Note Policy. Cash Management CENTER
20. Cash Management Center (cont’d) The Cash Management Center project will offer the commercial banks the following new services and enhancements: 1. Extension of operating hours to receive deposits and service of withdrawals; 2. Improvement of turn-around time; 3. Sorting and orienting of mixed banknote deposits; 4. Servicing of withdrawals in casette-ready form; 5. Introduction of bar-coded strip seal packaging to allow consignment tracking; 6. Extensive use of vault management system and CCTV cameras to further enhance internal control and security in operations.
21. Cash Management Center (cont’d) Central Bank will accept deposits and service withdrawals from commercial bank branches. This project will be in all of the Central Bank’s regional offices and branches.
22. On the part of commercial banks, the benefits include: 1. Allowing deposit of unsorted and in-oriented banknotes; 2. Allowing deposits and withdrawals on an extended operating time; 3. Eliminating the need for commercial bank’s representatives to witness verification process; and 4. Giving the option to withdraw banknotes in cassette-ready form for an easier and faster replenishment of Automated Teller Machines.
23. provide perspectives for better planning for harnessing modern technology for business continuity programs
24. Thank you.