The bank increased Turkish lira reserve requirement ratios by 200 basis points- for all liability types and maturity brackets.
It noted: “The upper limit of the facility for holding FX [foreign exchange] has been decreased from 30% to 20% of Turkish lira reserve requirements.
“The upper limit of the facility for holding standard gold has been decreased from 20% to 15% of Turkish lira reserve requirements.”So the bank expects that Turkish-lira-denominated required reserves will increase by approximately 25 billion Turkish liras, while FX and gold will be down by $500 million.
“In addition, the remuneration rate applied to TL-denominated required reserves has been increased by 150 basis points to 13.5%,” it said, adding: “These changes will be effective from the calculation date of 19 February 2021 with the maintenance period starting on 5 March 2021.”
Hurriyet Daily News