Increase in Capitalization of Rural Banks

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PRESIDENTIAL DECREE NO. 447: Increase in Capitalization of Rural Banks

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Title Source: Supreme Court: Increase in Capitalization of Rural Banks

Law: Presidential Decree No. 447

Decision Date: May 7, 1974

Presidential Decree No. 447 aims to strengthen rural banks in the Philippines by increasing their capitalization, allowing them to actively support the agrarian reform program and promote agricultural and industrial production in rural areas. The law authorizes the Central Bank to convert rediscounting obligations into additional capitalization and government equity, while also requiring rural banks to match government equity with private equity.

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