CBRT, Securities and Required Reserve Regulation

The Central Bank of the Republic of Turkey, the residents of the earthquake zone, which are due or due in 6 months. in case of delaying the maturity of loan debts, these loans for 6 months from security establishment and required reserves. will exempt.

The CBRT informed the banks about the regulation regarding securities and required reserves.

In the letter sent to the banks, it was stated that as of February 6, it would be appropriate that the loans extended or to be made available to SMEs residing in Adana, Adıyaman, Diyarbakır, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Osmaniye and Şanlıurfa should not be subject to a document against expenditure application. given:

“As of February 6, in case the maturity of the loans that are due or due within 6 months of the people residing in the earthquake zone are postponed, these loans are excluded from the securities establishment applications according to the loan type and loan growth rate for the banks, and that they are not subject to the application of a document against expenditure, but the loan It is considered that it would be appropriate for the financing companies to continue to be subject to the security facility (provisional Article 7) according to the interest/profit share rate, and to be excluded from the reserve requirement facility for financing companies.”

Banks Association of Turkey And Association of Participation Banks of Turkey Bank customers, who were exposed to the negative effects of the earthquake in the region’s economy and whose solvency was adversely affected, had announced the principle decision to postpone the maturity of their debts to banks, which are due or due within 6 months, from 8 February until 6 months later.