The Amendment to the Communiqué on Required Reserves
12.07.2023
Melis Uslu
The Communiqué (No. 2023/16) on the Amendment to the Communiqué on Required Reserves (No. 2013/15) (Communiqué) is published in the Official Gazette dated 08.07.2023 and numbered 32242. The Communiqué entered into force on the date of its publication, effective as of 07.07.2023. With the Communiqué, amendments were made regarding additional mandatory reserves:
- An additional 5 points of required reserves shall be maintained by banks, in addition to the required reserve ratio applied to foreign currency deposits/participation funds and precious metal deposit accounts, applicable when the lower of the percentage of Turkish lira deposits/participation funds in total deposits/participation funds to be calculated for real and legal persons is below 57%. The Turkish Lira ratio was 60% before the amendment.
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