Recent development
On October 23, 2015, the Banking Regulation and Supervision
Authority ("BRSA") issued sixteen new and amended
regulations and communiqués in accordance with the Basel
Committee's Regulatory Consistency Assessment Program
("RCAP") in an effort to further harmonize Turkish
banking rules with Basel III criteria. This most recent package of
changes introduces Basel III standards for capital adequacy
calculations and risk-weighting methods along with a new set of
rules for banks' risk management disclosures for financial
statements. The changes are set to take effect on March 31,
2016.
Background
Since 2013, the BRSA has been active in harmonizing Turkish
banking rules with the Basel III criteria, issuing numerous
regulations, communiqués and guidelines on banks'
capital requirements, leverage ratios and liquidity coverage
ratios. The Basel Committee's RCAP assessment is currently
underway, with its report to be published in early 2016. To
