ESTABLISHING THE CENTRAL BANK OF THE PHILIPPINES AS THE CENTRAL MONETARY AUTHORITY

• Number: Presidential Decree No. 1801
• Sections: 3

Preamble

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;

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;

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:

Section 1

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.

Section 2

SEC. 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.

(Sgd.) FERDINAND E. MARCOS

President of the

Philippines

By the President:

(Sgd.) JUAN C. TUVERA

Presidential Executive

Assistant

Vol. 25, Vital Documents, Presidential Decree 1980-1981