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CBRT Adjusts Interest Rate Ceilings on Reserve Requirement Amounts

TURKEY
  • The CBRT have adjusted reserve requirement ratios in order to "strengthen the monetary transmission mechanism, increase the share of Turkish lira deposits and support the transition from exchange rate protected deposits to Turkish lira deposits"
  • The upper limit interest rate applied to the reserve required amounts for KKM deposits will be 60%, and 80% for standard TRY deposits.
  • See the full statement here.

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