Senate ratifies bicam reports on discounted political ad rates, New Central Bank Act 32 SHARES Share it! Increased capitalizationSenator Francis “Chiz” Escudero, chair of the Senate committee on banks, financial institutions and currencies, said the reconciled version of the measures Senate Bill No. 7653, otherwise known as “The New Central Bank Act”, will increase BSP’s capitalization from P50 billion to P200 billion. Senate Bill No. 7742 which amended RA 7653, otherwise known as “The New Central Bank Act,” further empowers the central monetary authority’s mandate in protecting the banking system.

Source: Manila Bulletin December 02, 2018 15:56 UTC