CREATING A NATIONAL COMMISSION ON COUNTRYSIDE CREDIT AND COLLECTION
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CREATING A NATIONAL COMMISSION ON COUNTRYSIDE CREDIT AND COLLECTION
Executive Order No. 465
April 28, 1976
Case Overview and Summary
EXECUTIVE ORDER NO. 465Purpose: To create a National Commission on Countryside Credit and Collection to strengthen and rationalize the country's rural credit system.
Composition of the Commission:
- Governor, Central Bank of the Philippines, Chairman
- Secretary, Department of Agrarian Reform, Vice-Chairman
- Secretary, Department of Industry, Member
- Secretary, Department of Local Government and Community Development, Member
- Secretary, Department of Agriculture, Member
- Secretary, Department of Education and Culture, Member
- Secretary, Department of Public Information, Member
Responsibilities of the Commission (Section 2):
- Formulate policies, measures and programs to:
- Foster credit consciousness in rural areas
- Develop better paying habits and attitudes among credit beneficiaries and intermediaries
- Contribute to improvement in collection efforts for government-assisted financing programs
- Undertake studies for inclusion of bank credit consciousness and responsible use of credit in school curricula
Support for the Commission (Section 3):
- The Central Bank of the Philippines shall provide staff, financial, material and other support required by the Commission.
Authority of the Commission (Section 4):
- The Commission can call upon any government department, bureau, office, agency or instrumentality, including government-owned or controlled corporations, for assistance.
- The Commission may contract with corporations, associations or individuals on any aspect of its work as deemed necessary.
Emolument for Commission Members (Section 5):
- Members shall receive an emolument determined by the Monetary Board, not exceeding one thousand pesos for any single month.
- The amount shall be disbursed from financial assistance provided by the Central Bank.
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Executive Issuances
Executive Orders
countryside credit
collection
national commission
rural credit system
credit consciousness
paying habits
collection effort
government-assisted financing
school curricula
credit resources
financial intermediation
lending operations
agricultural credit
agrarian reform beneficiaries
rural development
economic development
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responsible use of credit
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CREATING A NATIONAL COMMISSION ON COUNTRYSIDE CREDIT AND COLLECTION
Executive Order No. 465
•April 28, 1976
EXECUTIVE ORDER NO. 465 April 28, 1976
CREATING A NATIONAL COMMISSION ON COUNTRYSIDE CREDIT AND COLLECTION
WHEREAS, it is the policy of the State to pursue a massive and sustained food self-sufficiency program, a rational dispersal of industries in the rural areas, a redirection of credit resources from the urban centers towards the countryside, and a mandatory allocation of at least twenty-five per cent (25%) of the loanable funds of all banking institutions for agricultural credit in general, of which at least 10% shall be made available to agrarian reform beneficiaries.
WHEREAS, in order to accelerate rural development and growth, credit resources have to be generated and expanded through effective financial intermediation and sound lending operations so that the same could be channeled to, and utilized in, priority agricultural, industrial production areas;
WHEREAS, on the other hand, increased credit resources in banks and other financial intermediaries could be generated and increased only if the vital importance of credit, insofar as it relates to the country's economic development, is inculcated in the minds of the citizenry...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
countryside credit
collection
national commission
rural credit system
credit consciousness
paying habits
collection effort
government-assisted financing
school curricula
credit resources
financial intermediation
lending operations
agricultural credit
agrarian reform beneficiaries
rural development
economic development
credit intermediaries
bank credit
responsible use of credit
EXECUTIVE ORDER NO. 465 April 28, 1976
CREATING A NATIONAL COMMISSION ON COUNTRYSIDE CREDIT AND COLLECTION
WHEREAS, it is the policy of the State to pursue a massive and sustained food self-sufficiency program, a rational dispersal of industries in the rural areas, a redirection of credit resources from the urban centers towards the countryside, and a mandatory allocation of at least twenty-five per cent (25%) of the loanable funds of all banking institutions for agricultural credit in general, of which at least 10% shall be made available to agrarian reform beneficiaries.
WHEREAS, in order to accelerate rural development and growth, credit resources have to be generated and expanded through effective financial intermediation and sound lending operations so that the same could be channeled to, and utilized in, priority agricultural, industrial production areas;
WHEREAS, on the other hand, increased credit resources in banks and other financial intermediaries could be generated and increased only if the vital importance of credit, insofar as it relates to the country's economic development, is inculcated in the minds of the citizenry...
Login to see full content