简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Turkey’s central bank sent a letter to local lenders on Monday, warning them against conducting forex transactions with foreign banks during “off hours” and offering deposits with very high interest rates to avoid bond holding requirements.
The central bank has introduced rules in recent months to reduce the gap between the policy rate and lending rates and encourage loans to sectors including exports and production.
The latest rule mandates lenders with less than half of deposits in lira in 2023 to hold an additional seven percentage points of government bonds. Authorities have also sought to dissuade forex holdings.
The central bank said banks should not direct customers to hold funds from lira loans in demand deposits and they should also not allow lira loans to be deposited in accounts under a scheme that protects against forex depreciation, it said.
Such issues are “not supportive of establishing financial stability,” the central bank said, adding that lenders should make the maximum effort to abide by regulations.
The central bank had already warned banks last week about conducting forex sale-purchase transactions overnight, saying it will take “necessary measures” if the issue continues.
In the past, if central bank requests on various issues have not been followed, it has taken measures such as requiring banks to hold government bonds.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
TMGM Broker Review 2024: A detailed look into TMGM's pros and cons, regulatory status, trading platforms, and customer support, helping traders make informed decisions.
The Commodity Futures Trading Commission (CFTC) has initiated legal action against Aipu and Fidefx, alongside individual defendants Qian Bai, Lan Bai, and Chao Li, accusing them of fraudulently soliciting and misappropriating at least $3.6 million from 32 customers.
Discover new CFD trading opportunities in Dubai and Abu Dhabi with Scope Markets, offering access to UAE equity indices and the growing GCC stock markets.
According to the report, the US dollar is approaching a significant turning point, with expectations growing that the Federal Reserve will accelerate interest rate cuts to bolster the economy. As a result, the dollar is on the verge of erasing nearly all of its gains from this year.