Press Release on Macroprudential Framework (2024-52)
No: 2024-52
September 21, 2024
Press Release on Macroprudential Framework
To support macrofinancial stability and the monetary transmission mechanism, the Central Bank of the Republic of Türkiye has decided to take the following steps:
- Reserve requirement ratios for Turkish lira (TRY) deposits and the ratio for TRY-denominated required reserves that should be maintained for foreign currency (FX) deposits have been changed as follows. The new ratios will be applied as of September 27, 2024.
|
|
Previous Ratio | New Ratio |
| Short-term TRY deposits1 | 12% | 15% |
| Long-term TRY deposits2 | 8% | 10% |
| Maintenance of TRY for FX deposits | 8% | 5% |
- The remuneration of required reserves that should be maintained for TRY deposits will no longer be conditional on the transition-to-TRY rate.
- The maximum commission rate of 5% applied based on the level of transition-to-TRY rate has been raised to 8%.
(1) Turkish lira deposits/participation funds (excluding deposits/participation funds obtained from banks abroad) – Demand, notice, with maturities up to 1 month and up to (and including) 3 months
(2) Turkish lira deposits/participation funds (excluding deposits/participation funds obtained from banks abroad) with maturities up to 6 months, up to 1 year, 1 year and longer than 1 year
Contact
For further information, please send an e-mail to basin@tcmb.gov.tr.