Press Release on Reserve Requirements – 24/07/2014, (2014-49)

No: 2014-49

Release Date: 24 July 2014

PRESS RELEASE ON RESERVE REQUIREMENTS

Taking the latest developments in global financial markets and operational processes regarding reserve requirements into account, the foreign currencies that can be maintained for Turkish lira required reserves within the scope of the Communiqué on Reserve Requirements No. 2013/15 have been limited to the US dollar only.

Under the assumption that the Reserve Options Mechanism (ROM) would continue to be used at current levels after the revision, institutions subject to reserve requirements shall replace 12.7 billion euros that are currently held at the CBRT within the ROM facility with 17.1 billion US dollars.

This revision will be effective as of the calculation period dated 1 August 2014, and the maintenance period will begin on 15 August 2014.

For the previous press release on this issue, press here.

Contact: For further information, please contact Press Secretary Yücel Yazar

Tel No: +90 (312) 507 5656