Senators on Monday approved a P150-billion increase in the Bangko Sentral ng Pilipinas’ (BSP) capitalization, noting the need to upgrade the central bank’s resources given changing times.

Passed on third and final reading was Senate Bill 1297, which seeks to amend Republic Act 7653 by raising the BSP’s capitalization to P200 billion from the current P50 billion and providing for a review every five years, among others.

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