Expanded foreign currency authority for banks

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PRESIDENTIAL DECREE NO. 1035: Expanded foreign currency authority for banks

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Title Source: Supreme Court: Expanded foreign currency authority for banks

Law: Presidential Decree No. 1035

Decision Date: Sep 30, 1976

Presidential Decree No. 1035 expands the foreign currency lending authority of depository banks in the Philippines, allowing them to engage in foreign exchange transactions and grant foreign currency loans to resident corporations and firms, while also implementing tax regulations and exempting certain transactions from existing laws.

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