According to the CBRT’s announcement regarding the “Communiqué on Amendments to the Communiqué on Required Reserves” published in today’s issue of the Official Gazette, the Central Bank decided to take some simplification steps, taking into account the increasing share of TL deposits.
The required reserve ratios applied to TL deposit accounts and the required reserve ratio in TL for foreign currency (FX) deposits have been changed.
Accordingly, the 15 percent rate for short-term TL deposits was increased to 17 percent, while the TL facility rate for FX deposits was reduced from 5 percent to 4 percent. Required reserves will be established on December 6, 2024.
Legal entity TL deposit share target has been removed. The total target for the transition and renewal of exchange rate protected deposits (KKM) to TL was also reduced from 75 percent to 70 percent.
Source: www.dunya.com
