Banking and Finance
1. What is a bouncing check and does it occur? Explain and give examples. (20)
A bouncing check is a term used to describe a check that could not be processed because the
drawer or the check writer’s bank account does not have enough or sufficient money to pay or
release the required amount of the check. The term “bouncing” is used as per the concept of the
fact that the bank returns back the check to its writer. Yes, bouncing checks still occur and I
believe that this usually happens to businessmen as a criminal activity or not. Taking what
happened to my uncle a few years ago, he was issued a check by a store owner at Masinloc Mall
of Masinloc Zambales. The check bounced as it was discovered that the store owner does not
really fund his account. My uncle did really want to punish that store owner, however, the store
owner did reach out to him to keep things from getting worse. Nevertheless, he still faced
charges of charges and penalties as a result of legal judgment.
2. According to an international financial group. The most trusted industry in the
Philippines is “banking industry” . Do you agree with this statement? Yes or No? Explain and
give a concrete example of it. (10)
Yes, I do agree with this statement. It could be because of the idea that the banking industry
makes the safeties a place to keep or save everyone’s money. By means of “safeties,” the
banking industry makes banking and financial laws and regulations which are highly regulated
and supervised to govern every single activity of all banks and other financial institutions. It is
also said to be the most trusted industry because careers in banking firms offer integrity and
stability.
One of trusted banks in the Philippines is the Bank of the Philippine Islands that maintains its
client’s privacy through Data Privacy Statement when their clients give their personal
information through their designed website. This is in compliance with Republic Act 10173 also
known as Data Privacy act of 2012 and its implementing rules and regulations.
3. All banking and Financial institutions in the country are highly regulated and supervised
by the Bangko Sentral ng Pilipinas. In your own opinion. Explain what is meant by that
statement and support your answer by giving concrete examples. (10)
The Bangko Sentral ng Pilipinas (BSP) could act as a governing body that regulates and
supervises all banking and financial institutions in the country because it is the only Republic’s
central monetary authority of the Philippines. BSP ensures that all banking and financial
institutions are operating as what is mandated by the law. This is to ensure that these institutions
are operating lawfully and ethically for the reason that they are entrusted with other people's
money. If the public-image of banks was destroyed, people might not trust banks with their
money anymore. As a result, it will have negative effects on developing the economy. These
institutions' only option is to cooperate with the BSP because banks are also quasi-public
corporations, thus, they should collaborate with the state in the service of the public.
One of the mandates of BSP applied to all banking and financial institutions is the
prohibition of all bank employees to receive and/or require remuneration or any material benefits
for himself or another in connection with the approval of the loan and other credit accumulation
from banks. This is unethical thus it is forbidden. Plus, this action could tarnish the reputation of
1. What is a bouncing check and does it occur? Explain and give examples. (20)
A bouncing check is a term used to describe a check that could not be processed because the
drawer or the check writer’s bank account does not have enough or sufficient money to pay or
release the required amount of the check. The term “bouncing” is used as per the concept of the
fact that the bank returns back the check to its writer. Yes, bouncing checks still occur and I
believe that this usually happens to businessmen as a criminal activity or not. Taking what
happened to my uncle a few years ago, he was issued a check by a store owner at Masinloc Mall
of Masinloc Zambales. The check bounced as it was discovered that the store owner does not
really fund his account. My uncle did really want to punish that store owner, however, the store
owner did reach out to him to keep things from getting worse. Nevertheless, he still faced
charges of charges and penalties as a result of legal judgment.
2. According to an international financial group. The most trusted industry in the
Philippines is “banking industry” . Do you agree with this statement? Yes or No? Explain and
give a concrete example of it. (10)
Yes, I do agree with this statement. It could be because of the idea that the banking industry
makes the safeties a place to keep or save everyone’s money. By means of “safeties,” the
banking industry makes banking and financial laws and regulations which are highly regulated
and supervised to govern every single activity of all banks and other financial institutions. It is
also said to be the most trusted industry because careers in banking firms offer integrity and
stability.
One of trusted banks in the Philippines is the Bank of the Philippine Islands that maintains its
client’s privacy through Data Privacy Statement when their clients give their personal
information through their designed website. This is in compliance with Republic Act 10173 also
known as Data Privacy act of 2012 and its implementing rules and regulations.
3. All banking and Financial institutions in the country are highly regulated and supervised
by the Bangko Sentral ng Pilipinas. In your own opinion. Explain what is meant by that
statement and support your answer by giving concrete examples. (10)
The Bangko Sentral ng Pilipinas (BSP) could act as a governing body that regulates and
supervises all banking and financial institutions in the country because it is the only Republic’s
central monetary authority of the Philippines. BSP ensures that all banking and financial
institutions are operating as what is mandated by the law. This is to ensure that these institutions
are operating lawfully and ethically for the reason that they are entrusted with other people's
money. If the public-image of banks was destroyed, people might not trust banks with their
money anymore. As a result, it will have negative effects on developing the economy. These
institutions' only option is to cooperate with the BSP because banks are also quasi-public
corporations, thus, they should collaborate with the state in the service of the public.
One of the mandates of BSP applied to all banking and financial institutions is the
prohibition of all bank employees to receive and/or require remuneration or any material benefits
for himself or another in connection with the approval of the loan and other credit accumulation
from banks. This is unethical thus it is forbidden. Plus, this action could tarnish the reputation of
