According to the announcement made by the CBRT, the reserve requirement ratios applied to Turkish Lira (TL) deposit accounts and the reserve requirement ratio that must be established in TL for foreign currency (FX) deposits have been changed.
REQUIRED RESERVATIONS WILL BE ESTABLISHED ON SEPTEMBER 27
Accordingly, the rate for short-term TL deposits was increased from 12 percent to 15 percent, and the rate for long-term TL deposits was increased from 8 percent to 10 percent, while the TL facility rate for FX deposits was reduced from 8 percent to 5 percent. Required reserves will be established on September 27, 2024.
The condition of the TL conversion rate in the application of interest on the required reserves that must be established for TL deposits has been removed. The maximum commission rate applied according to the TL conversion rate level has been increased from 5 percent to 8 percent.
