English: Bangko Sentral ng Pilipinas[1] The Bangko Sentral ng Pilipinas (English: Central Bank of the Philippines; sometimes, Spanish: Banco Central de Filipinas), and commonly abbreviated as BSP on documents written in Filipino or English, is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993. as seen from the -- Cultural Center of the Philippines[2] The Cultural Center of the Philippines (Filipino: Sentrong Pangkultura ng Pilipinas, or CCP) is a government owned and controlled corporation established to preserve, develop and promote arts and culture in the Philippines. The CCP was established through Executive Order No. 30 s. 1966 by President Ferdinand Marcos. Although an independent corporation of the Philippine government, it receives an annual subsidy and is placed under the National Commission for Culture and the Arts for purposes of policy coordination.