Central Bank as Monetary Authority

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PRESIDENTIAL DECREE NO. 1801: Central Bank as Monetary Authority

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Title Supreme Court: Central Bank as Monetary Authority

Law: Presidential Decree No. 1801

Decision Date: Jan 16, 1981

Presidential Decree No. 1801 establishes the Central Bank of the Philippines as the central monetary authority, responsible for policy direction in money, banking, and credit, with supervisory and regulatory authority over banks and non-bank financial intermediaries.

central monetary authority

presidential decree

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Functions and Powers of the Central Monetary Authority

The Central Bank shall provide policy direction in the areas of money, banking, and credit.
It has supervisory authority over the operations of banks.
It exercises regulatory authority over non-bank financial intermediaries, as provided by law.
Its role encompasses formulation and implementation of monetary and banking policy to ensure financial stability.

Continuity of the Central Bank’s Role

Until the National Assembly enacts a law providing otherwise, the Central Bank shall continue functioning as the central monetary authority.
This ensures no vacuum in monetary policy direction and financial regulation.

Effectivity of the Decree

The decree establishing the Central Bank as the central monetary authority takes effect immediately upon issuance.

Legal Authority

The decree is issued under the constitutional powers vested in the President of the Philippines.
It serves as an executive order with the force of law to operationalize the Constitution’s mandate on central monetary authority.

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