Preamble
WHEREAS, long-term lending institutions play a vital role in providing medium and long-term funds for housing and other priority programs of the Government; WHEREAS, it is necessary to afford the Central Bank of the Philippines greater flexibility in the use of its credit facilities as to augment medium and long-term funds for economic development; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order the amendment of Republic Act Numbered Two Hundred Sixty-Five, as amended, as follows: