Section 21. Deputy-Governor. —

The Governor of the Central Bank, with the approval of the Monetary Board, shall appoint one or more senior deputy governors and deputy-governors, in a maximum number as may be approved by the President of the Philippines. They shall perform duties as may be assigned to them by the Governor and the Board.

In the absence of the Governor of the Central Bank, a Senior Deputy Governor designated by the Governor shall act as chief executive of the Central Bank and shall exercise the powers and perform the duties of the Governor. Whenever the Governor or Senior Deputy Governor, as the case may be, is unable to attend meetings of a government boards or councils in which he is an ex-officio member pursuant to provisions of special laws, a Senior Deputy Governor or Deputy Governors as may be designated by the Governor, shall be vested with authority to participate and exercise the right to vote in such meetings. They shall have such line or staff authority as may be delegated by the Governor and the Monetary Board.

The other deputy-governors shall be assigned specific areas of responsibility such as, but not necessarily limited to, bank supervision, economic research, operations and administration: Provided, however, That the Deputy-Governor for Supervision shall be in charge of all bank supervision and examination.