The Bangko Sentral ng Pilipinas (BSP) recently launched “Banking Laws of the Philippines – Annotated”, a legal book that chronicles the evolution of banking laws in the Philippines.
“It is important to chronicle these changes (in banking laws) to see where we have come from and to chart where we will go. Just keeping up with these is not easy. That is why it is very important that a good book covers all of these,” said former BSP governor Felipe Medalla.
The Philippines has implemented a number of banking laws that respond to ever-changing practices brought about by increases in financial institutions, among other factors.
The newest volume consolidates, revises, and updates the contents of a three-volume series covering the New Central Bank Act, the General Banking Law, and other special laws were released over a decade ago, covering Philippine banking laws from 2010 to 2012.
Published and distributed by Rex Book Store, Inc., “Banking Laws of the Philippines – Annotated” is a collaboration of BSP experts and seasoned lawyers, led by senior assistant governor and general counsel Elmore O. Capule.