FX reserve requirement practice, ratios revised

December 28 2019 11:47:49

FX reserve requirement practice, ratios revised

ANKARA-Anadolu Agency

The Turkish Central Bank on Dec. 28 revised Foreign Exchange reserve requirement practice and ratios in order to support financial stability and the real loan growth-linked reserve requirement practice, the bank said in a statement.

The bank has decided to raise reserve requirement ratios for FX deposits/participation funds by 200 basis points for all maturity brackets, it added.

The bank will apply these ratios 200 basis points lower for banks that comply with TL real loan growth conditions to ensure that these banks are not affected by this rise.

"As a result of these revisions, approximately $2.9 billion of FX liquidity will be withdrawn from the market," it explained.

The revised ratios will be effective from the calculation period of Dec. 27 with the maintenance period starting on Jan. 10.

Türkiye to receive larger foreign capital: Chamber head

Local textile industry facing challenges in export markets

Turkish Airlines hopes to bring more tourists from Chile

Credit card payments increase 78 percent in November

Central Bank expected to cut key interest rate this week

Trump threatens to take back control of Panama Canal

Sri Lanka’s Dissanayake to pay visit to key lender China

WORLD

Syria's territorial integrity 'non-negotiable,' Fidan says

Türkiye’s Foreign Minister, Hakan Fidan, emphasized on Dec. 22 that Syria’s territorial integrity is “non-negotiable” and reiterated there is no place for the PKK/YPG terror group in the country.

ECONOMY

Türkiye to receive larger foreign capital: Chamber head

Türkiye is expected to receive larger foreign capital and resource inflows next year as its economy becomes increasingly more stable and incentives investors, according to Erdal Bahçıvan, chairman of the board of directors of the Istanbul Chamber of Industry (İSO).

SPORTS

Fenerbahçe in tatters after Athletic loss

Fenerbahçe headed into turbulent times after a home loss in the Europa League against Athletic Bilbao on Dec. 11 night added to the club’s wounds and sparked fan protests.