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[ LETTER OF INSTRUCTION NO. 95, June 30, 1973 ]

TO: The Executive Secretary
Office of the President
   
  The Secretary
Department of Finance
   
  The Secretary
Department of Education and Culture
   
  The Governor
Central Bank of the Philippines

In order to assure success of the National Savings for Progress Campaign, and for the proper observance of the Savings Consciousness Year from June 29, 1973 to June 29, 1974, launched under Proclamation no. 1155, dated June 29, 1973;
  1. The Secretary of Education and Culture is hereby directed to order School Superintendents, Principals and Head Teachers to invite an official of any banking institution in their community to speak before the school children on the subjects of thrift, savings, banks and the responsible use of credit, at any time during the Savings Consciousness Year.

    The said official is also directed to allow authorized banks to distribute to school children promotional materials or similar devices designed to encourage said children to deposit in banks or otherwise make them conscious of the importance of savings in these institutions, and to instruct School Superintendents, Principals and Head Teachers to request officials of any bank situated in their locality to allow school children to observe banking operations during class hours.

  2. The Central Dank of the Philippines is hereby directed to allow banks and banking institutions to offer promotional schemes based on the lottery principle during the Savings Consciousness Year to encourage and attract savings and deposit accounts, and to publicize the National Savings for Progress Campaign.

    To maintain the savings campaign as a continuing effort that will involve and attract all sectors of society to save in banks, the secrecy feature of deposits under Republic Act No. 3019 is hereby strengthened, and the Executive Secretary and the Secretary of Finance are hereby directed, in the implementation of the pertinent provisions of Republic Act No. 3019 or any other Law or regulation which may require the declaration of assets and liabilities, to cause the adoption of a proper form under which cash holdings in the form of bank deposits and the banks in which such deposits are maintained shall not be identified and such deposits may be declared as part of a more general grouping of assets.
Done in the City of Manila, this 30th day of June, in the year of Our Lord, nineteen hundred and seventy-three.

(Sgd.) FERDINAND E. MARCOS
President
Republic of the Philippines
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