This Law also introduced significant changes in terms of enhancing the Bank’s duties and powers. First of all, the Central Bank’s control over direct and indirect monetary policy instruments was extended and the Bank was authorized to conduct open market operations to regulate money supply and liquidity. Meanwhile, it was decided that the Government would consult the Central Bank while taking measures with respect to money and loans. The Bank was authorized, through rediscount transactions, to lend medium-term loans to support investments and economic development. The upper limit for short-term advances to the Treasury was increased to 15 percent of budget allocations pertaining to the respective year.