Economy

Turkey to Double Lira Loan Reserve Requirement Ratio to 20%


Turkey to Double Lira Loan Reserve Requirement Ratio to 20%

(Bloomberg) —

Turkey will double the reserve requirement ratio for lira-denominated commercial cash loans to 20%, the central bank said.

Banks will maintain additional lira long-term fixed-rate securities for foreign currency deposits as a complementary step to the higher weighting of securities in the collateral pool that will become effective on June 24, the central bank said in a statement on its website Friday.

Turkey Central Bank to Implement Collateral, Liquidity Measures

“The aim of this regulation is to increase the effectiveness of the monetary policy within the scope of the liraization strategy,” it said.

Turkey subjected lira loans to reserve requirements in April as it moves to keep loan growth in check to protect the current-account balance. The lira has fallen almost 15% this quarter, the worst performer in emerging markets.

The lira fell 0.6% to 17.2209 per dollar on Friday in Asia trading.

(Updates with lira exchange rate in 5th paragraph.)

©2022 Bloomberg L.P.

Source

Похожие статьи

Добавить комментарий

Ваш адрес email не будет опубликован.

Кнопка «Наверх»