Section 4
SEC. 4. To effectively implement the provisions of the preceding section, loans or advances by the Philippine National Bank to the Philippine Exchange Company, Inc. for the purpose directed in this Decree shall be exempt from the loan limits imposed in the charter of the said Bank. The Central Bank of the Philippines shall rediscount the loans or notes referred to in paragraph (c) of the of the preceding section and shall grant the authorization or approval for the foreign borrowings that may be contracted by the Philippine National Bank authorized under paragraph (a) thereof. Foreign borrowings obtained under these provisions shall be exempt from any and all taxes, including withholding tax.