Ministry of Finance shared the measures taken by the BRSA due to the earthquakes

In the publication shared on the Ministry’s social media account, it was indicated that various arrangements were made in order to give flexibility to the debts of citizens living in the earthquake zone.

In the publication, it was indicated that the application of the grace period will remain in the hands of the banks after the abolition of the terms previously determined for the maturities of the loans for housing, vehicles and consumption that will be made available to residents in the earthquake zone or will be restructured. , and included the following information:

“In the sales of goods and services that are made with credit cards by affiliated businesses located in the provinces affected by the earthquake, the terms of the credit card installments will increase up to one time. Regardless of the limit for credit cards, the minimum payment amount will be determined as 20 percent of the term debt. When determining the limit of the card, the limits taken into account by the banks are increased and it is determined that the total limit of the card does not exceed 4 times the average monthly net income of the person in question for the first year and 8 times for the second and subsequent years, and if the average monthly or annual income level cannot be determined, the credit cards that natural persons can obtain. It was decided to increase the total limit from 2 thousand liras to 5 thousand liras”.

In the exchange, it was indicated that the problems related to the use of cash, the closing of the purchase of goods and services, the cancellation of credit cards for which the minimum amount is not paid and the non-issuance of a new credit card credit until the debt is fully paid are left to the initiative of banks, and during the period in which card debts are postponed, banks do not require your accounts receivable, including the minimum amount, and do not request accounts for collect from banks. them.

THE PASSWORD WILL BE ENTERED IN THE FIRST CONTACTLESS TRANSACTION FOR CARD PAYMENTS

In the post where it was pointed out that if the principal and interest payments of consumer and vehicle loans granted by banks, financial leasing, factoring and finance companies are postponed at the request of clients, the postponement period will not be taken into account within the the maturity limits determined in the pertinent legislation will be at the discretion of the banks. The deadlines for submission of required information and documents to banks by companies subject to independent audit regarding loan disbursements will be extended for companies in the earthquake zone. his statement was included.

In the sharing, it was indicated that the deadlines related to the valuation of the real estate guarantees of the loans granted to the clients affected by the earthquake disaster were postponed, and the following statements were used:

“The flexibility provided for the maturity limit of the loans and the limit of credit card installments will be extended until January 1, 2024. In telephone banking operations, in cases in which the Two-Component Verification During the identity verification process, the identity verification process will be implemented using the PIN, security question, customer demographic information, or other information at the bank. To prevent customers from using cards without their information, a password will be entered on the first contactless transaction made for card payments, continuing with the current application for subsequent transactions. It has been decided that the shares of banks whose shares are listed on the stock exchange, acquired through repurchase between February 6 and January 1, 2024, will not be taken into account as a core capital discount item.

MOBILE BRANCHES FOR BANKING SERVICES ARE SENT TO THE DISASTER REGION

It is indicated that until January 1, 2024, the high-risk weightings applied to individual credit cards and consumer loans will be applied for those extended to individuals residing in the provinces in the earthquake zone after February 6. by the BRSA not apply until January 1, 2024 in terms of those used.

In the exchange, it was highlighted that the work to deliver aid to the region by public banks continues, and the following was noted:

“Mobile branches were sent to the disaster area to maintain banking services. The Association of Turkish Banks and the Association of Participation Banks of Turkey have decided to postpone the maturity of overdue or overdue debts in 6 months to 6 months from today, and provide additional facilities to customers. The decision was made not to charge commissions for transactions made at associated ATMs. It was decided that customers who have an address/place of work or an account at the branch in the place where the force majeure occurred, will report credit risk, loan payments, promissory notes and check operations, within the framework of the Force Majeure Regulation. Major of the Risk Center. (AA)