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FinMin Nebati Says Capital Boost For State Banks Due By End-Jan

TURKEY

LOCAL NEWS

  • FinMin Nebati says the capital boost for state banks is nearly finalized with an announcement due at the end of the month.
    • Credit Guarantee Fund will also announce a new loan package during the same period. Loans at preferential rates will be offered to companies in some industries; the work is underway to select eligible sectors Nebati said
  • Nebati also notes that FX-protected deposits have reached TRY126bn ($9.32bn) with over 300k individuals participating in the govt-backed programme intended to protect lira savings from FX fluctuations.
    • Roughly 10b liras ($740m) join the system every day with as much as 15% of those funds coming directly from FX-deposits – bbg

Data:

  • 0700GMT: Dec home sales, 178k prior
  • 0700GMT: Dec Home Sales y/y, 59.0% prior
  • 0700GMT: Jan Expected inflation next 12 months, 21.39% prior
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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