BTr

BTr

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The Bureau of the Treasury (BTr) is committed to provide transparent, responsive, and cost efficient Treasury services by continually improving our quality management systems and adopting best practices in governance.

History of Bureau of the Treasury

In 1897, the Filipino nation had its first national Treasurer in the person of Baldomero Aguinaldo who was appointed by President Emilio Aguinaldo as Secretary of the Treasury with the primary function of imposition and tax collection. Then in 1900, Philippine Commission head William H. Taft created the Bureau of Insular Treasury which was tasked to receive and disburse public funds and account for the same. It also began the supervision of the country’s banks. The Bureau of Insular Treasury was renamed to Bureau of the Treasury by Act No. 1679 and given the additional task of coinage and currency supervision in 1905.

In 1949, Republic Act No. 265 transferred the functions of coinage and currency printing from the Bureau to the newly organized Central Bank of the Philippines. Treasury branches were opened throughout the country in 1965. The implementation of the Integrated Reorganization Plan of the government in 1971 under RA 6130, reorganized the Bureau into three major services namely: Financial and Administrative Service, Cash Operations Service, and Public Debt Management. 1986 ushered in Executive Order 127 which reorganized the Bureau with the following mandates: formulating the nation’s policies on financial management; public borrowing and capital market development; preparing annual projections of revenues, expenditures, cash position and borrowings in coordination with NEDA, DBM and BSP; managing the financial assets and controlling the liabilities of the National Government (NG); maintaining the books of accounts of all NG financial transactions; undertake the fidelity bonding of all accountable public officials; and administer the Fidelity Fund.

The Bureau in 1995 assumed the fiscal functions which RA 7653 mandates to be transferred from Bangko Sentral ng Pilipinas (BSP) to the Department of Finance, namely, the issue, service and redemption of Government Securities. In the same year, the electronic auction of the Philippine Government Securities called the Automated Debt Auction Processing System (ADAPS), the first of its kind in Asia, was introduced for faster, more transparent and accurate auctions.

In 1997, the scripless electronic and real time government securities transactions was introduced to eliminate the attendant risk as well as the cost of moving physical securities called the Registry of Scriptless Securities (RoSS).

January 15, 2001 marked the start of listing and trading of small-denominated treasury bonds at the Philippine Stock Exchange.

(Source: Bureau of the Treasury website)