Central Bank announces reserve requirement decision

The Central Bank has announced that the reserve requirement ratio for short-term Turkish Lira deposits has been increased from 15 percent to 17 percent.

According to the announcement by the CBRT regarding the "Communiqué on Amending the Communiqué on Reserve Requirements" published in today's issue of the Official Gazette, the Central Bank has decided to take certain simplification steps, taking into account the increasing share of TL deposits.

The reserve requirement ratios applied to TL deposit accounts and the reserve requirement ratio that must be maintained in TL for foreign currency (FX) deposits have been changed.

Accordingly, while the rate for short-term TL deposits was increased from 15 percent to 17 percent, the TL maintenance ratio for FX deposits was reduced from 5 percent to 4 percent. The reserve requirements will be maintained on December 6, 2024.

The target for the share of legal entity TL deposits has been abolished.

The total target regarding the transition of FX-protected deposits (KKM) to TL and their renewal has also been reduced from 75 percent to 70 percent.