Central Bank

CHAPTER Xll Central Bank

Article 97
  1. There shall be an autonomous body of a technical nature with patrimonial assets of its own, known as the Central Bank, whose composition, organization, functions and powers shall be deter mined by a constitutional organic law.
Article 98
  1. The Central Bank may only perform transactions with financial institutions, either public or private. In no way whatsoever may it act as collateral thereof nor secure documents issued by the State, its Bodies or Enterprises.
  2. No public expenditure or loan may be financed with direct or indirect credits of the Central Bank
  3. However, in case of a foreign war or the menace of such a war, as determined by the National Security Council, the Central Bank may secure, grant or finance credits to the State and public or private entities.
  4. The Central Bank may not adopt any agreement which should represent, in a direct or indirect manner, the establishment of different or discriminatory norms or requirements in relation to persons, institutions or entities performing transactions of the same nature.