Preamble
WHEREAS, it is imperative to strengthen the supervisory and regulatory authority of the Central Bank over the financial system; WHEREAS, the Central Bank should be given more flexibility in order to make the financial system more responsive to the needs of the development program of the Government; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the amendment of Republic Act No. 337, as amended, as follows: