Make a simple explanation with example of the given section below, Section 75
Make a simple explanation with example of the given section below, Section 75
Note: this is a Republic Act No. 7653 of the New Central Bank Act, of Article II. Operations in Gold and Foreign Exchange
Section 75. Operations with Foreign Entities. - The Monetary Board may authorize the Bangko Sentral to grant loans to and receive loans from foreign banks and other foreign or international entities, both public and private, and may engage in such other operations with these entities as are in the national interest and are appropriate to its character as a central bank. The Bangko Sentral may also act as agent or correspondent for such entities. Upon authority of the Monetary Board, the Bangko Sentral may pledge any gold or other assets which it possesses as security against loans which it receives from foreign or international entities.
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