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ARTICLE · 31 MAY 2022

New Threshold For Frozen Receivables

Sadik& Çapan
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With this amendment, it will be at the discretion of the bank to classify the total amount of receivables of TL 2,500 (two thousand five hundred) or less from a debtor as frozen receivables.

TurkeyFinance and Banking
Serra Sadik Hiziroglu
Serra Sadik Hiziroglu
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The threshold for the voluntary inclusion of banks in the category of frozen receivables due to default in loans was increased from TL 100 (one hundred) to TL 2,500 (two thousand five hundred) in accordance with Amendment Regulation re. Regulation on Procedures and Principles for Classification of Loans and Provisions To be Set Aside dated 24 May 2022 and numbered 31845 ("Amendment Regulation") issued by Banking Regulation and Supervision Agency ("BRSA").

With this amendment, it will be at the discretion of the bank to classify the total amount of receivables of TL 2,500 (two thousand five hundred) or less from a debtor as frozen receivables. This threshold however must not exceed 1% (one) percent of the total on-balance sheet debts of the debtor customer to the bank and its subsidiaries, which are consolidated financial institutions, excluding partnership shares.

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