A collection of Philippine laws, statutes and codes
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Presidential Decree No. 1801
ESTABLISHING THE CENTRAL BANK OF THE PHILIPPINES AS THE CENTRAL MONETARY AUTHORITY.
PRESIDENTIAL DECREE NO. 1801
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WHEREAS, the Constitution provides that the National Assembly shall establish a central monetary authority which shall provide policy direction in the areas of money, banking and credit; . chanrobles virtual law library
WHEREAS, until the National Assembly shall otherwise provide, the Central Bank of the Philippines, operating under existing laws, shall function as the central monetary authority; . chanrobles virtual law library
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:chanroblesvirtuallawlibrary . chanrobles 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. . chanrobles 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. . chanrobles virtual law library
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