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ARTICLE · 05 APRIL 2016

Turkey's Banking Legislation Found Compliant With International Basel III Standards

Moroglu Arseven
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Turkey's banking legislation has been found to comply with the Third Basel Accord requirements related to risk-based capital and liquidity coverage ratio standards.

TurkeyFinance and Banking
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
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Turkey's banking legislation has been found to comply with the Third Basel Accord requirements related to risk-based capital and liquidity coverage ratio standards. Turkey's Banking Regulation and Supervision Agency ("Agency") has made a series of changes to secondary legislation recently, ensuring the local regulatory framework meets the international benchmark standards established by the Basel Committee on Banking Supervision ("Committee") after the 2008 global financial crisis.

After the financial crisis in 2008, the Committee took steps to strengthen the global banking sector and published the Third Basel Accord ("Basel III").  Member states are expected to harmonize domestic law with Basel III provisions by 31 March 2019. The Committee introduced the Regulatory Consistency Assessment Program ("RCAP") in 2012, to assess the extent of legislative compliance in each country with the Basel standards.

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