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PRESIDENTIAL DECREE NO. 1801
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PRESIDENTIAL DECREE NO. 1801
- ESTABLISHING THE CENTRAL BANK OF THE PHILIPPINES AS THE CENTRAL
MONETARY AUTHORITY
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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; chanroblesvirtualawlibrary
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;chanroblesvirtualawlibrary
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:cralaw:red
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. chanroblesvirtualawlibrary
Section 2. This Decree shall take effect immediately.
Done in the City of Manila this
16th day of January, in the year of Our Lord, nineteen hundred and
eighty-one.
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