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Details On Lira Loan Bans For Some Firms, USDTRY Extending Lower

TURKEY
BulletEM BulletEmerging Markets
  • Details on the headlines from a Bloomberg note:- Turkey’s banking regulator banned commercial lira loans to some corporate borrowers if their FX cash position exceeds a certain level relative to their assets or annual sales, Bloomberg HT television reports, citing decision by authority known as BDDK.
  • A company won’t be able to get new local-currency loans if it holds more than 15 million liras in foreign-exchange cash assets and they exceed 10% of total assets or annual sales.
    • USDTRY now trading over 3% lower below 16.85.
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  • Details on the headlines from a Bloomberg note:- Turkey’s banking regulator banned commercial lira loans to some corporate borrowers if their FX cash position exceeds a certain level relative to their assets or annual sales, Bloomberg HT television reports, citing decision by authority known as BDDK.
  • A company won’t be able to get new local-currency loans if it holds more than 15 million liras in foreign-exchange cash assets and they exceed 10% of total assets or annual sales.
    • USDTRY now trading over 3% lower below 16.85.