In a statement on its website, the TCMB announced that it has made changes to the reserve requirement application based on credit growth in order to support a tight monetary stance, taking into account developments in foreign currency loans.
The statement indicated that while the monthly growth limit for foreign currency loans was reduced from 1 percent to 0.5 percent, the scope of exempted foreign currency loans was also narrowed.
The TCMB had last reduced the growth limit for foreign currency loans to 1 percent with a change made at the beginning of January. However, in the two months following this change, foreign currency loan growth exceeded the growth limit due to the impact of the exempted loans.
News Source: 12punto
