Preamble
WHEREAS, it is the responsibility of the government to foster conditions conducive to the development of healthy competition among the different banking institutions; WHEREAS, one important segment of the banking industry is the thrift banking system whose continued viability is essential to the efficient functioning of the financial system as well as to the attainment of national economic goals; and WHEREAS, a strong thrift banking system will further enhance its capacity to service fully the increasing needs of households for a more convenient payments facility for personal and consumer finance as well as for long-term financing for home building and home 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 No. 337, as amended: