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Turkey Incentivizes Banks to Increase Lira-Based Collateral: AA

TURKEY
  • Turkish central bank revises its collateral decree to encourage banks to increase lira-based collaterals for transactions, state-run Anadolu Agency reports, citing banking sources it does not name.
    • Collateral basket is expanded to include lira-denominated TLRef-linked bonds, zero-coupon bonds, fixed-coupon bonds, FRN and sukuk
    • Central bank also increases discount rate to 15% from 5% for non-lira denominated collaterals
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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