Latest news with #TurkishCentralBank
Business Recorder
24-05-2025
- Business
- Business Recorder
Turkish central bank raises two reserve requirement ratios
ISTANBUL: The Turkish Central Bank said on Saturday it was raising reserve requirement ratios for short-term lira-denominated funding obtained from abroad to strengthen macro financial stability and the monetary transmission mechanism. Turkish central bank gross reserves rose $6bn, reversing weeks of drops The reserve requirement ratio, which was 12% for maturities up to 1 year for lira-denominated funds from repo transactions abroad, was raised to 18% for maturities up to one month, and to14% for maturities up to three months.
Al Arabiya
24-04-2025
- Business
- Al Arabiya
Turkey, Kazakhstan cenbanks sign $735 million currency swap arrangement
The Turkish Central Bank said on Thursday it had signed a bilateral currency swap arrangement with the National Bank of the Republic of Kazakhstan to promote bilateral trade through a swap-financed trade settlement facility. It said the swap arrangement, signed by the banks' governors in Washington, allows for the exchange of local currencies between the two central banks of up to 28.0 billion lira ($735 million) or 423 billion Kazakhstani tenge. The arrangement will be effective for three years and could be extended by mutual agreement between the two sides, it said.
Reuters
23-03-2025
- Business
- Reuters
Turkish central bank to meet bank executives, banking sources say
ISTANBUL, March 23 (Reuters) - Turkish Central Bank Governor Fatih Karahan will meet with board members of Turkey's Banks Association (TBB) on Sunday to discuss recent developments in the market, three banking sources with the knowledge of the matter said. Turkish lira, stocks and bonds suffered heavy declines since Wednesday when Istanbul Mayor Ekrem Imamoglu, the main political rival to President Tayyip Erdogan, was detained. A Turkish court jailed Imamoglu pending trial over graft charges on Sunday. He denies the charges. Karahan's meeting with TBB will start at 1200 GMT, the sources said. The central bank declined to comment on the meeting.
Al Arabiya
14-02-2025
- Business
- Al Arabiya
Turkish Central Bank says FX-protected accounts for legal entities discontinued
Turkish Central Bank said on Saturday that opening and renewal of FX-protected deposit (KKM) accounts for legal entities have been discontinued as part of the strategy to phase out KKM accounts. 'Effective February 15, 2025, legal entities will no longer be able to open or renew KKM accounts,' the bank said in a statement.
