comply with subsection (2), the Bank may, subject to any condonation granted under subsection (6), by way of a written notice impose upon that banking institution, in respect of such failure or inability, a fine not exceeding half a percent of the amount of the shortfall for each day on which such failure or inability continues. [Subsec (7) substituted by sec 9 of Act 11 of 2004.] [Date of commencement of sec 35: 1 June 1998.] [NAMa15y1997s36]36 Additional powers of the Bank (1) In addition to the powers, functions and duties conferred upon or assigned to the Bank by this Act, the Bank shall exercise such powers and perform such functions and duties as may be conferred upon or assigned to it by any other law. (2) Notwithstanding anything to the contrary contained in any law, the Minister may by notice in the Gazette entrust to the Bank any power, function or duty conferred upon or assigned to any other person or authority by a law, the administration of which falls under the responsibility of the Ministry of Finance. [NAMa15y1997s37]37 Disclosure of information by banking institutions Without prejudice to the provisions of any other law relating to the disclosure of information by a banking institution to its customers, every banking institution shall, in such manner as the Board may determine, disclose to(a) each customer who makes a deposit with the banking institution, the terms and conditions upon which the deposit is made, including the effective annual interest rate payable to such customer and any fees, charges or commission, if any, payable by such customer in respect of that deposit; (b) each customer to whom the banking institution extends credit, the terms and conditions upon which such credit is extended, including the effective annual interest rate, fees, charges or commission, if any, payable by such customer in respect of such credit; and (c) the public, the indicative annual rates offered by that banking institution on deposits and loans. [NAMa15y1997s38]38 Maximum positions in foreign currencies (1) The Bank may from time to time determine the maximum netto open position in foreign currency positions that banking institutions may hold generally or in any specified currency or currencies. (2) If any banking institution exceeds the position determined under subsection (1) the Board may impose on that banking institution a penalty not exceeding five percent per day of the amount in excess of the maximum position so determined. [NAMa15y1997s39]39 Clearing operations The Bank may, in conjunction with banking institutions(a) organise facilities for the clearing of cheques and other instruments for effecting payments, and establish such rules and procedures relating to clearing operations as may be appropriate; and (b) establish and enforce arrangements for the settlement of balances arising from clearing operations between the Bank and banking institutions or between banking institutions. PART VII RELATIONS WITH THE GOVERNMENT (ss 40-49) [NAMa15y1997s40]40 Banker, financial advisor, and fiscal agent (1) The Bank shall, as banker for, financial advisor to and fiscal agent of, the Government, render advice and furnish reports to the Minster on(a) any economic or financial matter which the Minister may refer to the Bank for investigation and advice; and