The Bangko Sentral ng Pilipinas (BSP) has just launched a book entitled “Banking Laws of the Philippines Annotated” at its head office in Manila. Supreme Court Chief Justice Alexander G. Gesmundo, who was awarded the Most Outstanding Solicitor in 1998, served as the event’s special guest speaker.
Photo shows BSP Governor Felipe M. Medalla (middle) together with (from left): former Monetary Board Member (MBM) Ignacio R. Bunye, MBM Eli M. Remolona, MBM V. Bruce J. Tolentino, Senator Mark A. Villar, Supreme Court Chief Justice Alexander G. Gesmundo, former BSP Governor Amando M. Tetangco, Jr., MBM Anita Linda R. Aquino, former MBM Fe B. Barin, Sr. Assistant Governor and General Counsel Elmore O. Capule, and former MBM Juan D. de Zuñiga, Jr.
In his speech, the Chief Justice described the book as a welcome supplement to the compilations of books on banking laws and regulations.
“Let us not view this book as a mere collection of laws and regulations but regard it as the embodiment of our people’s aspiration for social justice, economic stability, and national progress,” he said.
Providing a historical record of legislative changes in banking
For his part, BSP Governor Felipe M. Medalla said that the book aims to provide regulatory clarity, aid compliance, and provide a historical record of legislative changes in the country’s banking landscape.
“As the central bank engages in legal and regulatory activities, the many benefits of developing this publication cannot be understated,” Medalla said.
The 733-page publication provides legal explanations of relevant laws to help industry practitioners, members of the judiciary, and law students apply and interpret banking laws and regulations. It also consolidates and updates an earlier three-part series that featured the New Central Bank Act, the General Banking Law, and the Special Banking Laws.
The book also covers recently enacted laws, such as the National Payment Systems Act, the Financial Institutions Strategic Transfer Act, and the Financial Products and Services Consumer Protection Act.
Aside from presenting in-depth perspectives, the publication employs a topical format in tackling the powers and functions of the BSP and the business of banking in the Philippines.
Book to help ensure that the rule of law is followed
During the book-launching, BSP Senior Assistant Governor and General Counsel (SAGGC) Elmore O. Capule, who served as the book’s Editor-In-Chief, said, “The BSP hopes that with proper guidance, this book will help ensure that the rule of law is followed in the field of banking.”
The event gathered more than 300 representatives from the banking community; the judicial, legislative, and executive branches of government; the legal sector; the academe; and the media.
The book’s Editorial Board included SAGGC Capule (Editor-In-Chief); Teofilo R. Ragadio (Managing Editor); Asma A. Panda, Thomas Andrew T. Yuzon, Jocelyn Angelita C. Angeles, Vanessa P. Tabernero-Bunag, Michael R. Cucio, Christine Genevive L. De Castro-Lejano, Noel Neil Q. Malimban (Editors); and Janice G. Ayson-Zales and Ma. Amaya Mara Yadana B. Soriano-Dela Cruz (Associate Editors).
The Editorial Staff included Phoebe Samantha S. Allanigue, Richard Armand C. Angeles, Kariza Bianca M. Borlagdan, Anne Caroline C. Bugayong-Cruz, John Patrick S. Coloma, Daphne Y. De Paz, Fatima Anjanette P. Ferrer-Magtuba, Katrina Anne T. Limbonhai-Aldon, Joseph Edward L. Matias, Kathrina Grace F. Matibag, Janelle Aquilina Marie Navarra, Peter John T. Navarro, Jenee Monique R. Ocampo-Fonseca, Alain Bert G. Regis, April Michelle D. Salamatin, Joseph B. Salud, Johana T. Sunga-Tagal, Roselle M. Villamonte, Nicolo F. Bernardo, and Ma. Cristina E. Villarroya-Moreno.
The book is now available through the online store and physical branches of Rex Bookstore nationwide.