Creation of the Department.
Section 25
SEC. 25. Creation of the Department.—In order to assure the observance of this Act and of other pertinent laws, and of the rules and regulations of the Monetary Board, the Central Bank shall have a Department of Supervision and Examination which shall be charged with the supervision and periodic examination of all banking institutions operating in the Philippines, including all government credit institutions. The Department of Supervision and Examination shall discharge its responsibilities in accordance with the instructions of the Monetary Board. The Chief of the department shall be known as the Superintendent of Banks. The Superintendent of Banks and the examiners of the Department of Supervision and Examination are hereby authorized to administer oaths to any director, officer, or employee of any institution under the supervision of the department and to compel the presentation of all books, documents, papers or records necessary in has or their judgment to ascertain the facts relative to the true condition of any institution.