01.03.2025 00:30
The Central Bank of the Republic of Turkey (CBRT) announced that it has made changes to the reserve requirement application based on credit growth, taking into account developments in foreign currency loans. In the statement, it was reported that the monthly growth limit for foreign currency loans, which was previously set at 1%, has been reduced to 0.5%, and the scope of exempted foreign currency loans has been narrowed.
In a statement made by the Central Bank of the Republic of Turkey (CBRT), it was reported that the monthly growth limit for foreign currency loans, which was 1%, has been reduced to 0.5%, and the scope of exempted foreign currency loans has also been narrowed.
In a statement on its website, the CBRT announced that changes have been made in the mandatory reserve application based on loan growth to support a tight monetary stance, taking into account the developments in foreign currency loans.
NARROWING DECISION
The statement indicated that while the monthly growth limit for foreign currency loans has been reduced from 1% to 0.5%, the scope of exempted foreign currency loans has also been narrowed.
WHAT HAPPENED?
Most recently, with a change made at the beginning of January, the CBRT had reduced the growth limit for foreign currency loans to 1%. However, in the two months following this change, the growth of foreign currency loans had exceeded the growth limit due to the impact of exempted loans.