Central Bank's decision in the Official Gazette: Will be applied at a 0 percent rate for 1 year

According to the "Communiqué on Amending the Communiqué on Reserve Requirements" by the Central Bank of the Republic of Türkiye (CBRT), published in today's issue of the Official Gazette, the duration of the zero percent reserve requirement rate applied to foreign currency liabilities has been extended by one year.

With the amendment, for liabilities other than deposits/participation funds—excluding those belonging to foreign banks—the reserve requirement rates for those with maturities longer than 1 year, as listed in the first paragraph of Article 4 of the communiqué which determines the items subject to reserve requirements, will be applied at 0 percent until the calculation date of December 19, 2025.

According to the paragraph added to the same article, liabilities that were excluded from the scope of this article by the Communiqué that introduced this paragraph will continue to be considered within the scope of this implementation until the end of their maturities, according to the calculation method to be determined by the Central Bank.

The communiqué will enter into force on December 21, 2024.

News Source: AA