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The change to the Philippine central bank logo came as a surprise, if not a shock. Let’s see what all the fuss is about as netizens weigh in on the new logo.
In fact, the new Bangko Sentral ng Pilipinas (BSP) logo provoked mixed reactions. There were likes, while others found time to criticize and comment on social media.
“The golden Philippine eagle looked retro, from the disco era of the 70s.” That’s just one of the nicer comments. Another said the color tone and placement of the three stars is “a little creepy.” No further descriptions are required.
Others said that the golden eagle looked more like the American bald eagle or the dollar coin bird. But, it could be inspired by the Philippine eagle, found in Davao, home of President Duterte.
Twitter hashtags emerged, #ANGPANGITNGBSPLOGO is one. “Please go back to the old,” José said. [email protected]
“I like the old man better,” he said [email protected]
“It seems they thought more about the old logo,” Ai-Sha said. [email protected]
“Rexona asan ka na,” he said [email protected]
Whatever it is, the new logo is done. The BSP in a statement said the new logo was endorsed by the National Historical Commission of the Philippines and was approved by Malacañang last week.
The BSP seal
According to the BSP, your logo design change will be implemented “in phases.” In January it will be explained how they will do it, considering that they have to redesign, to some extent, our banknotes. But they will change their seal, they will, after President Duterte approved the proposal this month.
The current BSP seal was first launched in 2010 under then-BSP governor Amando M. Tetangco Jr., a two-term (12-year) central bank governor. At that time, the BSP was about to circulate a new series of banknotes or the New Generation Coin (NGC), replacing the New Design Series (NDS) first issued in 1985 until it was demonetized in the mid-1990s. 2017. NGC and NDS coexisted over a four-year period for a smooth transition from NDS to NGC.
In 2010, a new logo seemed appropriate and the time was right because the BSP was changing the look and feel of our legal tender. The system was up and running and planning was in place since 2018 when the BSP issued a new series of coins.
The NDS carried the first BSP seal, around 1993. It was in 1993 that the New Central Bank Law was enacted and what we now know as the BSP was created, which first emerged from the ashes of the former Central Bank of the Philippines (CBP). . established in 1949. Last year, the BSP Charter was amended.
Today, there is no plan or requirement to review the NGC. Although in July this year, the BSP “improved” the NGC design with new features and security that are suitable for the elderly and “more responsive” to the needs of the visually impaired. The enhanced NGC also features the latest anti-counterfeiting technology. The newest NGC with improvements was made on floors 50, 100, 200, 500, and 1000 floors. They left out the 20th floor because this bill is coming out in favor of the P20 coin.
What does that mean?
This means that over the next two months the BSP will have to set up a system for this and how they will redesign the notes and coins. It will be expensive, some observed.
The BSP said the new logo “adapts to changing times.”
However, some netizens commented that the 2010 logo is still modern by today’s standards. Also, it’s only been 10 years since the last logo design was changed. Before that, the original BSP seal had been around for 17 years. And before that, the CBP logo dates back to 1949.
The BSP said they decided to “update” the logo to reorient the Philippine eagle (our national bird) in a pure gold color and change the location of the three stars.
BSP Governor Benjamin E. Diokno, when announcing the new logo last Friday, said it was designed by his in-house artists from the Security Plant Complex (SPC) in Quezon City. The SPC is where the BSP prints banknotes and mints and refines coins and gold.
Diokno said his BSP team “are not only dedicated as public servants, but they are also creative and talented.”
There is no complete description of the new logo yet, but in the case of the 2010 BSP seal, the three stars represented the three pillars of central banking, such as price stability, a stable banking system, and a secure and reliable payment system. . It also symbolizes our three main islands of Luzon, Visayas and Mindanao.
Diokno said the new logo has all the elements of the old one, “but with more emphasis on the Philippine eagle as a symbol of strong leadership and foresight.”
He also said that the central bank logo needed an update. “While the strong foundation of the BSP brand remains the same, its visual representation in the form of the logo requires an update to infuse the institution with renewed vitality, underline its integrity and competence, and further promote understanding of its mandates.” , Diokno concluded.
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