NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree:.chan robles virtual law library

Section 1. The Central Bank of the Philippines is hereby constituted as the central monetary authority pursuant to Section 14, Article XV of the Constitution. It shall provide policy direction in the areas of money, banking and credit and shall have supervisory authority over the operations of banks and exercise such regulatory authority as may be provided by law over the operations of non-bank financial intermediaries.

Sec. 2. This Decree shall take effect immediately..chan robles virtual law library

Done in the City of Manila this 16th day of January, in the year of Our Lord, nineteen hundred and eighty-one..chan robles virtual law library