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RA 265 Section 90

Emergency loans and advances.

Section 90

SEC. 90. Emergency loans and advances.—In periods of emergency or of imminent financial panic which directly threaten monetary and banking stability, the Central Bank may grant banking institutions extraordinary advances secured by any assets which are defined as acceptable security by a concurrent vote of at least five members of the Monetary Board. While such advances are outstanding, the debtor institution may not expand the total volume of its loans or investments without the prior authorization of the Monetary Board. E. CREDIT TERMS

Read the full instrument → · Open the chapter this section belongs to: CHAPTER IV.—INSTRUMENTS OF CENTRAL BANK ACTION →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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