Press Release on Reserve Requirements – 01/09/2016, (2016-38)

No: 2016-38

1 September 2016

Press Release on Reserve Requirements

In order to bring out residents’ gold into the economy and to increase foreign exchange reserves, it has been decided that:

A new separate tranche of 5 percent, in addition to the existing facility of 30 percent allowing reserves requirement to be maintained as "standard gold" within the context of Reserve Option Mechanism, will be introduced.
Only wrought or scrap gold collected by banks from residents following the date to be announced within the implementation principles will be eligible for this new tranche.
The Reserve Option Coefficient will be set as 1 for the new tranche.

Details of implementation principles will be explained by a separate announcement.

For further information, please contact Press Secretary Yücel Yazar

Tel No: +90 (312) 507 56 56