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FinancialNews


  • 24-11-20

    Turkish Supervisory Agency adopts new regulation measure

    (MENAFN) The Turkish Banking Regulation and Supervisory Agency (BDDK) reported on Tuesday that it would revoke the measurement of the Asset Ratio (AR) as part of the standardization process by the end of this year.

    Borsa Istanbul's banking index increased by 3 percent, with the US dollar/Turkish lira exchange rate declined under 7.85 from 7.96 onward.

    The banking watchdog decided to implement the AR requirement as of last April "to accelerate the flow of bank funding into the economy, thereby mitigating the adverse economic effects of the COVID-19 pandemic."

    The ratio was intended to increase the availability of money to small and medium-sized enterprises and exporters, promote funding ventures and encourage banks to reduce the difference between their foreign exchange revenues and expenses.

    "As a continuation of the normalization steps to be taken for the aforementioned Board decisions promulgated during the pandemic period where uncertainties and risks in global markets increased," the BDDK said in a statement on Tuesday.۬

    MENAFN24112020000045011136ID1101176531

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