With the temporary article added to the Communiqué on the Establishment of Securities within the scope of the Liraization Strategy, an additional conversion target will be applied from real person foreign currency deposit/participation funds to Turkish lira deposit/participation accounts for the remainder of 2023.
The Communiqué of the Central Bank of the Republic of Turkiye (CBRT) on the Amendment of the Communiqué on the Establishment of Securities” was published in the Official Gazette.
With the temporary article added to the Communiqué on the Establishment of Securities within the scope of the Liraization Strategy, an additional conversion target will be applied from real person foreign currency deposit/participation funds to Turkish lira deposit/participation accounts for the remainder of 2023.
As of July 28, 2023, in case of additional conversion below 10% from the calculation date of May 26, 2023 until the calculation date of July 28, 2023 (inclusive), as much as the missing amount, for banks that remain below 30%, additional securities at the rate of 10% of the deposit/participation fund amount in the denominator of the additional conversion rate will be blocked until the said target is reached.
Source: AA / Prepared by Irem Yildiz
