CA 458 Section 10

Section 10

SEC. 10. In order to prevent injurious credit expansion or contraction, the Board of Governors, subject to the approval of the Secretary of Finance, may from time to time by regulation.change the requirements as to the amount of reserves to be maintained against demand or time deposits or both by manber banks;but the amount of the reserves required maintained by member banks shall not be less than, nor more than twice the amount of the minimum reserves provided by existing laws.

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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