RA 4887 Section 4

Section 4

SEC. 4. Section' Seven of R. A. No. 4093 is hereby amended to read as follows: "SEC. 7. Any private development bank may, with the approval of the Monetary Board : "(a) Accept savings and time deposits; "(b) Act as correspondent for other financial institution and as collection agent; "(c) Rediscount paper with the. Central Bank, Philippine National Bank or other Banks and their branches or agencies. The Central Bank shall specify the nature of papers deemed acceptable for rediscount as well as the rediscount rate to be charged by any of these institutions."

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationRA 4887 Section 4 (LawPlayer, data as of July 4, 2026)

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

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