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ARTICLE · 01 MAY 2020

Banking Regulation And Supervision Board Decision On Time Extensions Due To COVID-19 Outbreak

Erdem & Erdem Law
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The Energy Market Regulatory Authority (EMRA) published an announcement on 03.04.2020 within the scope of the measures taken against COVID-19 outbreak.

TurkeyFinance and Banking
Erdem & Erdem
Erdem & Erdem
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The Banking Regulation and Supervision Board ("Board") published its decision dated 02.04.2020 and numbered 8976 ("Decision") within the scope of the measures taken against COVID-19 outbreak.

In this regard, the Board has granted the banks, independent auditing firms, credit rating institutions, asset management companies, leasing, factoring and financing companies an additional period of 60 days, to be in effect until 31.12.2020, for the submission of the financial reports, independent audit reports and activity reports, which are required under various regulations listed in the Decision for the year-end reports of 31.12.2019 and the interim reports of 31.03.2020, to the Banking Regulation and Supervision Agency ("BRSA") and other relevant authorities. The Board granted the same extension to the periods determined for certain notifications under the regulations mentioned in the Decision.

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