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PLS SUMMARIZE AND INCLUDE THE MAIN POINTS   SECTION 22

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PLS SUMMARIZE AND INCLUDE THE MAIN POINTS

SECTION 22. Research and Statistics. — The Bangko Sentral shall prepare data and conduct economic research for the guidance of the Monetary Board in the formulation and implementation of its policies. Such data shall include, among others, forecasts of the balance of payments of the Philippines, statistics on the monthly movement of the monetary aggregates and of prices and other statistical series and economic studies useful for the formulation and analysis of monetary, banking, credit and exchange policies.

SECTION 23. Authority to Obtain Data and Information. — The Bangko Sentral shall have the authority to require from any person or entity, including government offices and instrumentalities, or government-owned or -controlled corporations, any data, for statistical and policy development purposes in relation to the proper discharge of its functions and responsibilities: Provided, That disaggregated data gathered are subject to prevailing confidentiality laws. The Bangko Sentral through the Governor or in his absence, a duly authorized representative shall have the power to issue a subpoena for the production of the books and records for the aforesaid purpose. Those who refuse the subpoena without justifiable cause, or who refuse to supply the Bangko Sentral with data required, shall be subject to punishment for contempt in accordance with the provisions of the Rules of Court.

The authority of the Bangko Sentral to require data from banks shall continue to be exercised pursuant to its supervisory powers set forth in this Act and other applicable laws.

Data on individuals and firms, other than banks, gathered by the Bangko Sentral shall not be made available to any person or entity outside of the Bangko Sentral whether public or private except under order of the court or under such conditions as may be prescribed by the Monetary Board: Provided, however, That the collective data on firms may be released to interested persons or entities: Provided, finally, That in the case of data on banks, the provisions of Section 27 of this Act shall apply.

SECTION 24. Training of Technical Personnel. — The Bangko Sentral shall promote and sponsor the training of technical personnel in the field of money and banking. Toward this end, the Bangko Sentral is hereby authorized to defray the costs of study, at home or abroad, of qualified employees of the Bangko Sentral, of promising university graduates or of any other qualified persons who shall be determined by proper competitive examinations. The Monetary Board shall prescribe rules and regulations to govern the training program of the Bangko Sentral.