Turkiye: Central Bank unveils new macroprudential measures

The Central Bank has announced a raft of new macroprudential measures as part of its liraization strategy.

The bank said in a statement on Jan. 7 that local banks in general have reached the 50 percent liraization target in deposits announced for 2022 and that the liraization target in deposits for the first half of 2023 was set at 60 percent.

Accordingly, changes have been made in the securities maintenance practice effective from Feb. 24.

As part of those measures, the securities maintenance ratio has been raised to 10 percent from 5 percent.

“Banks that exceed the 60 percent Turkish Lira share target in real and legal person deposits will be subject to a discounted securities maintenance ratio. Accordingly, the banks, of which the lower of these shares for real and legal person is: I.

between 60 percent (included) and 70 percent, will get a 5-point discount,and II. above 70 percent, will get a 7-point discount on the securities maintenance ratio.”

For banks with Turkish lira shares below the 60 percent target, the previously determined additional ratios will continue to be applied by adding them to the securities maintenance ratio, it added.


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