Section 38
Sec. 38. The Board shall have, among others, specific authority on the following matters: (a) Internal organization of the Reserve Bank; (b) Appointment or removal of the officers and employees of the Deserve bank not otherwise provided in this Act; (c) Provisions for the general supervision and control of the business of the Reserve Bank; (d) Instructions and regulations relative to the clearing functions of the Reserve Bank; (e) Eligibility of persons, associations and corporations whose checks, drafts or other negotiable instruments can-be accepted for discount, rediscount or advances, and fixing the limits of such discounts or advances; (f) Fixing of rates of discounts, rediscounts and interests on advances for each class of papers; (g) Purchase and acquisition of real property required for the business of the Reverse Bank. (h) Sale, lease, mortgage, pledge and other form of disposition of properties of the Reverse Bank; (i) Matters concerning the form, text and denominations of the notes of the Reverse Bank, and the issuance, withdrawal and cancellation of said notes; (j) Perform such other acts as may be necessary and convenient to carry out the purposes of this Act. DUTIES OF THE CHAIRMAN