According to Moody’s, four domestic banks in Ghana, including the foreign held First National Bank Ghana Ltd., may need to raise new equity to restore capital and meet regulatory thresholds after being impacted by a domestic debt exchange program that replaced existing bonds with new ones featuring longer maturities and lower interest rates. The banking industry’s overall capital adequacy ratio dipped to 14.3% of risk-weighted assets in June, down from 19.4% a year earlier. However, this is still above the revised minimum of 10% set by the central bank, which lowered it from 13% to shield lenders. The bank’s governor noted that no bank has yet requested liquidity support.