The CBRT changed the reserve requirement ratios for Turkish lira (TL) and foreign currency (FX) deposit accounts.
According to the new regulation, the required reserve ratio for short-term TL deposits was raised from 12 percent to 15 percent, and for long-term TL deposits from 8 percent to 10 percent. The required reserve ratio for FX deposits in TL was reduced from 8 percent to 5 percent. These changes will enter into force on September 27, 2024.
In addition, the requirement of the rate of switching to TL regarding the interest rate on required reserves to be applied to TL deposits was abolished, while the maximum commission rate applied according to the rate of switching to TL was increased from 5 percent to 8 percent.
