Amendment to Usury Law on Interest Rates

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PRESIDENTIAL DECREE NO. 858: Amendment to Usury Law on Interest Rates

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Title Supreme Court: Amendment to Usury Law on Interest Rates

Law: Presidential Decree No. 858

Decision Date: Dec 31, 1975

Presidential Decree No. 858 amends the Usury Law to address high returns on investment in the money market, authorizing the Monetary Board to prescribe maximum interest rates for loans and allowing exemptions based on prevailing economic and social conditions.

amendments

usury law

monetary board

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