The BSP is the central bank and monetary authority of the Republic of the Philippines. It was established on 3 July 1993 pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993, which granted the Bank fiscal and administrative autonomy from the National Government. The BSP has a total of 23 offices/branches throughout the country, including its Main Office in Manila and its Security Plant in Quezon City. Under the leadership of the Monetary Board and its Chairman, BSP Governor Benjamin E. Diokno.