The Amendment to the Reserve Requirement Ratios
The Communiqué (No: 2024/2) Amending the Communiqué on Reserve Requirements (No: 2013/15) (Communiqué) has been published in the Official Gazette dated 30.01.2024 and numbered 32445. The Communiqué entered into force on the date of its publication, effective from 19.01.2024. The amendments made pursuant to the Communiqué are summarized below.
Reserve requirement ratios for Turkish lira liabilities have been amended as follows:
- For deposits/participation funds excluding bank deposits/participation funds from abroad; 8% for demand deposits, notice deposits up to 1-month and 3- month (including 3 months) maturity; 0% for up to 6-month (including 6 months) maturity; 0% for up to 1-year maturity; 0% for 1-year maturity or longer; 25% for FX protected accounts with up to 6-month (including 6 months) maturity and 10% for FX protected accounts with up to 1-year maturity or longer,
- 0% for borrower funds,
- For other liabilities including bank deposits/participation funds from abroad; 8% for up to 1-year (including 1 year) maturity; 5.5% for up to 3-year (including 3 years) maturity; 3% for longer than 3-year maturity; 0% for securities issued by development and investment banks with maturity longer than 1-year.
The additional reserve requirement ratio for FX deposits/participation funds (excluding bank deposits/participation funds from abroad and precious metal deposit accounts) is set at 8%.
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