Recent Developments
On 7 July 2022, the Banking Regulatory and Supervisory Authority
(“BRSA”) published BRSA Decision No. 10265 (
“Decision No.
10265“) to clarify the implementation of the
decision of the BRSA Decision No. 10250 dated 24 July 2022 (
“Restriction Decision” and, together
with Decision No. 10265, “Decisions“)
introducing Turkish lira borrowing restrictions for non-financial
institutions that are subject to independent audit and to ensure
the effective implementation of the restrictions under the
Restriction Decision.
You may refer to our legal alerts dated
27 June 2022 and
19 July 2022 for the Turkish lira borrowing restrictions
introduced by the BRSA.
On 21 October 2022, the BRSA tightened these restrictions with
its Decision No. 10265 via its decision No. 10389
(”Decision
No. 10389”).
