KKM instruction to the banks of the Central Bank

The Central Bank has set the transition target to TL term deposits at at least 10 percent for currency conversion accounts of real people, at least 50 percent for TL currency protected deposits, and at least 32 days for deposits in TL.

With the implementation instruction, it was also explained how banks are expected to achieve the 95 percent rollover target on conversion accounts and the transition to TL.

UP TO 10 PERCENT…

Accordingly, banks will be able to achieve their 95 percent target by renewing their individual and legal person conversion accounts or switching from foreign currency conversion accounts to TL term deposits of 32 days or more. Additionally, new conversion accounts opened for real people were allowed to count up to a maximum of 10 percent of the conversion amount due toward the goal.

STOCK INSTALLATION

Setting values ​​according to the interest/profit sharing ratio will apply to 1.4 times the reference rate on export and investment loans, 1.8 times on other TL commercial loans, and 2 times on TL commercial loans. for general purposes, while maintaining the previously valid coefficients.

In this regulation, the difficulties created by the differences in the business models of the participation banks were taken into account. In order for such institutions to achieve the targets set for the transition to TL and TL shares, the period they are obliged to regulate is determined in April 2024. Therefore, it was possible for them to achieve the target at the same level in a period of time longer.

The Central Bank also extended the exemption period for loans granted in the earthquake zone from August 31, 2023 to January 1, 2024. (BRITISH AUTOMOBILE CLUB)