(iv) such negotiable instruments, security bonds, or debentures as the Board may, with the approval of the Minister, determine and designate by notice in the Gazette. (2) The Bank may, on such terms and conditions as the Board may from time to time determine, grant to the account holders referred to in this section, for periods not exceeding 183 days, advances that are secured by(a) an instrument referred to in paragraph (b) of subsection (1); (b) warehouse receipts or documents of title issued in respect of staple commodities or other goods duly insured; or (c) holdings of any assets that the Bank is permitted to buy, sell, or otherwise deal in under section 29. (3) Notwithstanding the provisions of subsection (2), the Bank may, on such terms and conditions as the Board may determine, grant to an account holder referred to in this section, a loan which is unsecured or secured by assets other than those referred to in that subsection, when, in the opinion of the Board, such loan is necessary to meet the liquidity requirements of that account holder. [NAMa15y1997s34]34 Determination of Bank rates The Bank shall from time to time determine and announce the rates chargeable by the Bank for discounts, rediscounts and advances, and may determine different rates and ceilings for different classes of transactions or maturities. [NAMa15y1997s35]35 Banking institutions to maintain minimum reserve balance (1) Every banking institution shall maintain an account with the Bank in which such banking institution shall maintain a minimum reserve balance in accordance with the provisions of this section. (2) For the purposes of maintaining monetary stability in Namibia, the Bank may from time to time direct a banking institution to deposit or transfer into that banking institution's account held with the Bank pursuant to the provisions of subsection (1), such amounts of money expressed as a percentage of that banking institution's(a) demand deposits; (b) savings accounts; (c) time deposits; (d) deposit liabilities; or (e) any other liabilities, as the Bank may determine. (3) If a banking institution fails or is unable to comply with a directive of the Bank under subsection (2), it shall forthwith submit a written report of its failure or inability to comply with the directive and the reasons therefore, to the Governor. (4) A banking institution which has failed or is unable to comply with a directive of the Bank under subsection (2) shall not without the prior approval of the Board extend new loans or credit to its customers during the period of such failure or inability. (5) Any person who contravenes or fails to comply with a provision of subsection (1), (2), (3) or (4) shall be guilty of an offence and liable on conviction to a fine of N$10 000, or to imprisonment for a period not exceeding six months. (6) The Bank may summarily bring a charge in terms of subsection (5) against the banking institution in question or, if in the circumstances the Board deems it fit to do so, condone the failure or inability and afford that banking institution an opportunity, subject to such conditions as the Board may determine, to comply with the relevant provision within a specified period. (7) Irrespective of whether criminal proceedings in terms of subsection (5) have been or may be instituted against a banking institution in respect of any failure or inability to