Section 39
SEC. 39. The Chairman of the Board shall be the chief executive officer of the Reserve Bank. He shall, on behalf of the Board, have the direction and control of the business of the Reverse Bank, with authority to act in connection with the conduct of the business of the Reverse Bank in all matters which are not by this Act or by the by-laws of the Reserve bank speciffically reserved to be done by the Board. In case of absence of the Chairman or in his incapacity to act, the Vice-Chairman shall act in his place. The Chairman shall have the following duties among others: (a) To carry out the orders and resolutions of the Board; (b) To report weekly to the Board the main facts concerning the operations of the Reserve Bank during the preceeding week and to suggest changes in rates of discount rediscount, exchange, or of policy which may to him seem best; (c) To furnish, upon request, to the President of the Philippines or the Secretary of Finance, any information in his possession regarding the operations of the Reverse Bank.