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ARTICLE · 22 AUGUST 2022

The BRSA Clarified Its Derivatives Decision

Esin Attorney Partnership
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The Banking Regulatory and Supervisory Authority ("BRSA") shared its advice dated July 20, 2022 ("Letter") with Turkish banks to clarify the implementation of its decision No. 10248...

TurkeyFinance and Banking
Muhsin Keskin
Muhsin Keskin
Büşra Cavas
Büşra Cavas
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Recent Development

The Banking Regulatory and Supervisory Authority ("BRSA") shared its advice dated July 20, 2022 ("Letter") with Turkish banks to clarify the implementation of its decision No. 10248 and dated June 23, 2022 regarding the application of a risk weighting of 500% to commercial cash loans made available to Turkish residents that enter into derivatives transactions with non-Turkish residents ("Decision"). You may refer to  our legal alert dated June 27, 2022 regarding the Decision.

Implementation Principles of the Decision

The BRSA clarified the following points concerning the implementation of the Decision:

  • The risk weighting of 500% within the scope of the Decision will apply to all commercial cash loans of borrower that have entered into derivatives transactions with non-Turkish residents after June 23, 2022 (the "Decision Date") irrespective of whether the borrowers have utilized the loan before or after the date of the

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