Section 1
Sec. 1. (a) The term "Reserve System" shall be held to mean that banking system herein created under which the Reserve Bank of the Philippines and the member banks shall operate to accomplish the purposes of this Act. (b) The term "Reserve Bank" shall be held to mean the Reserve Bank of the Philippines. (c) The term "Member Bank" shall be held to me an any bank, banking association, trust company, savings bank, or other banking corporation, or any:branch of the same, which.is a member of the Reserve System herein established. (d) The term "Bank" shall be held to mean any bank, banking association , trust company, savings bank, or other banking corporation, or any branch of the same, which is engaged in banking bus iness.in the Philippines. (e) The term "Board" shall be held to mean the Board of Governors of the Reserve Bank. (f) The term "lawful money of the Philippines" shall include Treasury certificates and silver pesos legally is sued under authority of the Government of the Philippines. (g) The term "lawful money of the United States" shall include gold coins, gold certificates, silver dollars and United States notes. (h) The term. "Government" shall mean the'Government of the Philippines.