Just recently, Bangko Sentral ng Pilipinas released a 1-piso commemorative coin 150 years of Rizal, its reverse side blatantly displays the new BSP seal and like any other seal, the design has symbols and meanings.
Adopted in 1993, the original seal consisted of a stylized representation of the sun hovering over mountain ranges and above the Philippine flag which was framed by a wheel. Former Prime Minister Cesar E. A. Virata, however, noted that the Philippine flag was incorrectly displayed as it was depicted below the sun and the mountain ranges. It violated the provisions of the Flag and Heraldic Code of the Philippines, which states that the Philippine flag should never be displayed under any picture and shall always be hoisted aloft. The BSP Numismatic Committee concurred with PM Virata’s view and agreed to recommend switching to another seal which is legally compliant, eventually paved way for the new seal we see today.
Launched in the middle of 2010, the new BSP logo is a perfect round shape in blue that features three gold stars and a stylized Philippine eagle rendered in white strokes. These main elements are framed on the left side with the text inscription “Bangko Sentral ng Pilipinas” underscored by a gold line drawn in half circle. The right side remains open, signifying freedom, openness, and readiness of the BSP, as represented by the Philippine eagle, to soar and fly toward its goal. Putting all these elements together is a solid blue background to signify stability.
1. The Philippine Eagle, our national bird, is the world’s largest eagle and is a symbol of strength, clear vision and freedom, the qualities we aspire for as a central bank.
2. The three stars represent the three pillars of central banking: price stability, stable banking system and a safe and reliable payments system. It may also be interpreted as a geographical representation of BSP’s equal concern for the impact of its policies and programs on all Filipinos, whether they are in Luzon, Visayas or Mindanao.
1. Blue signifies stability.
2. Gold symbolizes wisdom, wealth, idealism, and high quality.
3. White represents purity, neutrality, and mental clarity.
The use of Non-serif bold fonts for the text “BANGKO SENTRAL NG PILIPINAS” suggests solidity, strength, and stability. The use of non-serif fonts characterized by clean lines portrays the no-nonsense professional manner of doing business at the BSP.
Its Round shape symbolizes BSP’s continuing and unending quest to become a world- class monetary authority committed to improving the quality of life of Filipinos. This round shape is also reminiscent of Philippine coins, the basic units of our currency.
The shift embodies the BSP’s continuing transformation to adapt to a changing environment. It now appears in the New Generation Currency money, and is expected on coins by 2013.
The very first seal of the Central Bank of the Philippines (CBP) was originally designed by Dan Zamora of Crispulo Zamora & Sons based from the suggested ideas of Governor Miguel Cuaderno, Sr.
According to Mr. Rufo Buenviaje of the Department of Economic Research, each features represent a symbolism. The seal of the CBP shows a man in the foreground, symbolizing the Filipino Nation pushing the Wheel of Progress. The rays of the rising sun at the background, denotes the Dawn of Prosperity and revealing the country’s traditional agricultural products as the basic ingredients for industrial production and commerce. The arms proper is a circle, represents perpetuity, and around it the text CENTRAL BANK OF THE PHILIPPINES to suggest that the bank provides the necessary fiscal, commercial, and monetary policies.
Based on the same design, the seal was simplified during the term of Gov. Gregorio S. Licaros.
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