Preamble
WHEREAS, supervisory and regulatory authorities should have the means to achieve their objectives and accomplish their responsibilities; WHEREAS, the Central Bank should be able to enforce banking laws and rules and regulations in order to promote and maintain a safe and sound banking system 5 WHEREAS, it is necessary to afford the Central Brink greater-flexibility in the use of its credit facilities to meet the demands of 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 order the amendment of Republic Act No. 265 as amended, as follows: