Preamble
WHEREAS, there are transactions, which, although involving lending of funds, offer returns on investment higher than the maximum ceilings prescribed in the Usury Law; WHEREAS, the higher return of investment in the money market, among other facts, has drawn money supply away from desirable areas of investment to the detriment of national interest; WHEREAS, the interest rate, together with other monetary and credit policy instruments, plays a vital role in directing domestic savings and capital resources to economic activities where they are needed most; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby declare and order the amendment of Act No. 2655, as amended, as follows: