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ARTICLE · 18 JUNE 2020

Additional Reporting Requirement For Transactions Affecting FX Positions

Esin Attorney Partnership
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The companies must report their FX positions quarterly and utilizing a standard reporting form issued by the CBRT.

TurkeyFinance and Banking
Muhsin Keskin
Muhsin Keskin
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Recent Developments

As per the Regulation on the Procedure and Principles regarding the Central Bank of the Republic of Turkey's Monitoring of Transactions Affecting the FX Position ("Regulation"), Turkish companies the aggregate of foreign currency loans and foreign currency indexed loans balance of which amounts to USD 15 million or more as at the end of a quarterly accounting period are obliged to report their FX position to the Central Bank of the Republic of Turkey ("CBRT"). The companies must report their FX positions quarterly and utilizing a standard reporting form issued by the CBRT.

In addition to the abovementioned quarterly reporting requirement, the CBRT's new announcement also introduced an additional weekly reporting requirement for companies.

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