Press Release on Macroprudential Framework (2024-48)

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No: 2024-48

August 29, 2024

Press Release on Macroprudential Framework

To support the monetary transmission mechanism, the Central Bank of the Republic of Türkiye introduces the following changes to the reserve requirement practice:

  • The monthly growth target has been increased to 0.8 points for banks with real person TRY deposit shares between 45% and 50%.
  • The monthly growth target is abolished for banks with real person TRY deposit shares exceeding 60%, and a condition of keeping this share above 60% has been introduced.
  • Legal person KKM accounts will henceforth be included in the calculation of the total target for KKM accounts’ transition to TRY and renewals.
  • The upper limit for the remuneration of required reserves, which should be maintained for TRY deposits, based on the rate of transition to TRY has been increased to 84% of the policy rate.
  • The ratio for maintaining TRY required reserves in blocked accounts has been increased by 5 points.

Contact

For further information, please send an e-mail to basin@tcmb.gov.tr.

Press Release on Macroprudential Framework (2024-48)