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The Central Bank issued circulars fixing the maximum interest rate banks can pay and the manner of computing and paying interest. Bangko Filipino challenged these circulars, arguing the Central Bank lacked power to regulate the manner of interest computation and payment. The trial court issued an injunction restraining enforcement. The Supreme Court took up the case, finding that (1) the issues were purely legal and involved public interest, allowing exemption from exhaustion requirements; (2) the Central B

Author

kuraiireen ho

Language

EN