President Rodrigo R. Duterte (fourth from left) presents to Senate President Pro-Tempore Ralph G. Recto and Bangko Sentral ng Pilipinas (BSP) Deputy Governor Maria Almasara Cyd N. TuaAo-Amador (fifth and sixth from left) the newly signed Republic Act No. 11211, or An Act Amending Republic Act No. 7653, Otherwise Known as the 'New Central Bank Act', and for Other Purposes during ceremonies held on 20 February 2019 in MalacaAang. The amended BSP Charter, which the President signed into law last 14 February 2019, strengthens the capability of the BSP to promote the stability of prices and the financial system as well as the efficiency of local payment systems. The ceremony was witnessed by Cabinet Secretary Karlo B. Nograles (first from left)Senate President Vicente C. Sotto III, House Speaker Gloria Macapagal-Arroyo, Representatives Ben P. Evardone, Henry C. Ong, Estrellita B. Suansing, Dakila Carlo E. Cua and Executive Secretary Salvador C. Medialdea.

Source: Bangko Sentral ng Pilipinas (BSP)