Other banks as agents of the Central Bank.
Section 120
SEC. 120. Other banks as agents of the Central Bank.—In the performance of its functions as fiscal agent, the Central Bank may engage the services of the Philippine National Bank and of other domestic banks for operations in localities at home or abroad in which the Central Bank does not have offices or agencies adequately equipped to perform said operations: Provided, however, That for fiscal operations in foreign countries, the Central Bank may engage the services of foreign banking and financial institutions.