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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Erdogan Approves Third Capital Boost for Banks Since 2019
- ERDOGAN APPROVES THIRD CAPITAL BOOST FOR STATE BANKS SINCE 2019
- Turkish authorities plan to inject capital into state-owned banks to ensure they keep lending to businesses as the lira’s record drop erodes the lenders’ buffers
- The exact size of the capital boost and its funding method are being ironed out by the Treasury and Finance Ministry following the final go-ahead by President Recep Tayyip Erdogan on Monday
- Should the authorities proceed with the plan, it would be the third capital boost for state lenders in about three years. The sovereign wealth fund, which holds a majority stake in all three, injected $6.7 billion to support all state lenders in two separate rounds in 2019 and 2020.
- Despite the injections, the average capital adequacy ratio of state-owned banks fell to 16% at the end of October from 18% at the end of 2019, according to data from the banking watchdog.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.