Practice question
An official explains that confidentiality can encourage holders to place foreign currency in authorized Philippine banks for channeling to local loans and investments. Which source expressly articulates that policy rationale?
- A private bank's slogan alone.
- PD 1246's preamble.
- The personal preference of a teller.
- A restaurant menu.
- A shareholder's unrelated lease.
Legal references
- RA1405, Section1, purpose of deposit secrecy: https://lawphil.net/statutes/repacts/ra1955/ra_1405_1955.html
- PD1246, preamble and Section2 amending RA6426Section8: https://lawphil.net/statutes/presdecs/pd1977/pd_1246_1977.html
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