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Total assets of the banking industry as at the end of July 2013 increased to GH�31.6 billion compared to GH�24.3 billion in July 2012. This was driven mainly by advances, which accounted for 48.5 percent of the total assets. The disclosure was made in the September 2013 report of the Monitory Policy Committee (MPC) of the Bank of Ghana (BoG). Dr. Kofi Wampah, Governor, BoG, addressing a press conference in Accra, said the banking industry remained well capitalized, liquid and profitable. He said the asset growth was funded by deposits which recorded an annual growth of 15.7 percent to GH�20.3 billion at the end of July 2013. Dr. Wampah said the Non-Performing Loans (NPL) ratio within the banking industry was 12.9 percent in July 2013 down from 13.4 percent in July 2012, while the ratio excluding the loss category also fell by 5.3 percent from 6.4 percent in the same period. He said interest rates on the money market recorded slight decline between December 2012 and August 2013. Dr. Wampah said the 91-day Treasury bill rate declined to 22.8 percent from 23.1 percent while the 182-day Treasury bill rate fell to 22.3 from 23 percent, adding that the 1-year note reduced to 21.9 from 22.9 percent while the 2-year note declined to 22 from 23 percent. He said the 3-year bond rate fell to 19.24 from 21 percent, stating that the yield curve was lengthened with the introduction of the 7-year bond, which was issued at 17.5 percent. Dr. Wampah said the weighted average interbank rate declined by 17.1 percent in August 2013 from 17.5 percent in December 2012. �The August 2013 Bank of Ghana survey of credit conditions again showed a net easing of credit conditions. With the exception of long-term credit, which saw some tightening, the credit stance for all other loan types including credit to SMEs, large enterprises, short-term and mortgage loans eased during the period,� he said. Dr. Wampah said the annual growth of private sector credit moderated to 28.1 percent in nominal terms at the end of July 2013 from 41.3 percent in July 2012. Similarly, the annual growth of real private sector credit was 15 percent in July 2013 down from 29 percent in July 2012.