Central Bank: Growth limit for foreign currency loans reduced to 0.5 percent for eight-week periods
The Central Bank of the Republic of Turkey (TCMB) announced that it has made changes to reserve requirements and reduced the growth limit for foreign currency loans to 0.5 percent for eight-week periods.
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In a written statement regarding the macroprudential framework, the Central Bank stated, "The Central Bank of the Republic of Turkey has made changes to the reserve requirement application to support a tight monetary stance and strengthen macrofinancial stability, taking into account developments in foreign currency loans and overdraft accounts.
The growth limit for foreign currency loans, which was 1 percent for eight-week periods, has been reduced to 0.5 percent.
A growth limit has been introduced for overdraft account limits allocated to consumers, and the growth limit for eight-week periods has been set at 2 percent," the statement read.