Republic Acts1 min read
Section 36Sec./Art. 36
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Section 22 paragraph (a) of the same Act, as renumbered, is hereby amended to read as follows:
CORPORATE FUNDS AND ASSETS
SEC. 22. (a) Subject to guidelines and limits as approved by the Board of Directors, money of the Corporation denominated in the local currency, not otherwise employed, shall be invested in obligations of the Republic of the Philippines or in obligations guaranteed as to principal and interest by the Republic of the Philippines.
The Corporation may also invest in debt instruments denominated in foreign currencies issued or guaranteed by the Republic of the Philippines, or debt instruments denominated in freely convertible foreign currencies issued by supranationals, multilateral agencies, or foreign governments with at least an investment grade credit rating.
The Corporation shall likewise be authorized to buy and/or sell debt instruments and foreign currencies from any government securities eligible dealers or any counterparties or brokers, accredited by the PDIC Board.
For this purpose, the Corporation shall be authorized to open securities custodianship and settlement accounts.
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