Republic Acts1 min read
Section 8Sec./Art. 8
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Section 8, paragraph Eighth of the same Act is hereby amended to read as follows:
"Eighth - To conduct examination of banks with prior approval of the Monetary Board: Provided, That no examination can be conducted within twelve (12) months from the last examination date: Provided, further, That, to avoid overlapping of efforts, the examination shall maximize the efficient use of relevant reports, information and findings of the Bangko Sentral which it shall make available to the Corporation: Provided, finally, That the Board of Directors shall, in close coordination with the Monetary Board, prescribe such guidelines as may be necessary to ensure that there are no duplications of functions."
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