Establishing the Central Bank of the Philippines as the Central Monetary Authority
Presidential Decree No. 1801, issued on January 16, 1981, establishes the Central Bank of the Philippines as the central monetary authority in accordance with the Constitution. The decree mandates that the Central Bank provide policy direction in money, banking, and credit, while also granting it supervisory and regulatory authority over banks and non-bank financial intermediaries. This order was enacted to ensure a structured monetary policy framework until the National Assembly enacts further legislation. The decree took immediate effect upon its issuance.
Law Information
- Reference Number
- Presidential Decree No. 1801
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
January 16, 1981
PRESIDENTIAL DECREE NO. 1801
ESTABLISHING THE CENTRAL BANK OF THE PHILIPPINES AS THE CENTRAL MONETARY AUTHORITY
WHEREAS, the Constitution provides that the National Assembly shall establish a central monetary authority which shall provide policy direction in the areas of money, banking and credit; casia
WHEREAS, until the National Assembly shall otherwise provide, the Central Bank of the Philippines, operating under existing laws, shall function as the central monetary authority;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree:
SECTION 1. The Central Bank of the Philippines is hereby constituted as the central monetary authority pursuant to Section 14, Article XV of the Constitution. It shall provide policy direction in the areas of money, banking and credit and shall have supervisory authority over the operations of banks and exercise such regulatory authority as may be provided by law over the operations of non-bank financial intermediaries. casia
SECTION 2. This Decree shall take effect immediately.
DONE in the City of Manila, this 16th day of January, in the year of Our Lord, Nineteen Hundred and Eighty-One.
Published in the Official Gazette, Vol. 77 No. 19, 2451-116 Supp., on May 11, 1981.
Cite This Law
Establishing the Central Bank of the Philippines as the Central Monetary Authority, Presidential Decree No. 1801, Jan 16, 1981 (Philippines)
Establishing the Central Bank of the Philippines as the Central Monetary Authority, Presidential Decree No. 1801 (Phil. 1981)
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