BANK OF GHANA ACT - 2002 (ACT 612)

    Section - 34 - Managing the monetary and banking system

    Without prejudice to subsection (2) of section 33, the Bank may, for the purposes of monetary management,

    (a) alter the minimum ratio of reserve to deposits or the minimum capital adequacy ratio which each banking institution shall maintain;

    (b) alter the discount and interest rates of the Bank to be applied in credit operations with banking institutions;

    (c) buy or sell in the open market commercial bills, Government bonds and securities or bonds and securities guaranteed by the Government;

    (d) issue, sell, re-purchase or redeem Bank of Ghana securities;

    (e) expand or contract credit facilities to the banks;

    (f) authorise a banking institution that it considers fit to accept deposits for the Government or order the transfer of government deposits with any bank;

    (g) impose special requirements on deposit with banking institutions that it may determine; and

    (h) impose such other measures as the Board may determine.