Preamble
WHEREAS, monetary, banking and credit policies should be more responsive and more attuned to the needs of economic development; WHEREAS, the Central Bank of the Philippines should be given greater flexibility in administering the monetary, banking and credit system of the Republic and in providing policy direction in the areas of money, banking and credit; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the power vested in me by the Constitution, do hereby order and detiree the amendment of Republic Act No. 265, as amended, as follows: