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.