BANK OF GHANA ACT - 2002 (ACT 612)

    Section - 39 - Currency cover assets of the Bank

    (1) The currency cover assets of the Bank may include

    (a) gold, gold coin and bullion;

    (b) convertible currency notes and coins and bank balances in convertible currency with a bank outside Ghana;

    (c) treasury bills of the Government of a country whose currency is convertible;

    (d) bills of exchange bearing at least two good signatures drawn on a place outside Ghana, payable in convertible currency and having a maturity not exceeding three months exclusive of days of grace;

    (e) securities of Government other than the Government of Ghana expressed in convertible currency;

    (f) special drawing rights;

    (g) securities or bonds in convertible currency issued by any international financial institution or bank; and

    (h) subject to subsection (2),

    (i) treasury bills of the Government denominated in cedis and maturing within ninety-one days;

    (ii) other securities of the Government denominated in cedis and maturing in not more than twenty years which have been publicly issued or form part of an issue which is being made to the public at the time of acquisition.

    (2) The aggregate holding of treasury bills and of securities under paragraph (h) of subsection (1) shall not at any time exceed sixty per cent of the currency in circulation.