Recent Development
The Central Bank of the Republic of Turkey (the
"CBRT") amended the Communiqué
No. 2013/15 on Mandatory Reserves (the
"Amendment").
What's new?
In December 2019, the CBRT had set certain requirements for
banks to be able to benefit from reserve requirement incentives.
Accordingly, only banks with (i) an annual real loan growth rate
above 15% and an adjusted annual real loan growth rate below 15%
(including 15%) ("Group 1") and (ii) an
annual real loan growth below 15% (including 15%) and an adjusted
real annual loan growth rate below 5% (including 5%)
("Group 2") would benefit from reserve
requirement incentives.
Pursuant to the Amendment, banks that have an annual real loan
growth rate and an adjusted real annual loan growth rate above 15%
will also be considered in Group 1, and thus will be able to
benefit from reserve requirement incentives until December 25,
2020.
