Republic Acts1 min read
Section 21Sec./Art. 21
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Section 14 of the same Act is re-numbered as Section 19 and is hereby amended to read as follows:
"SEC. 19. With the approval of the President of the Philippines, the Corporation is authorized to issue bonds, debentures, and other obligations as may be necessary for purposes of settlement of insured deposits in closed banks as well as for financial assistance as provided herein: Provided, That the Board of Directors shall determine the interest rates, maturity and other requirements of said obligations: Provided, further, That the Corporation shall provide for appropriate reserves for the redemption or retirement of said obligation.
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