The Reserve Requirement Ratios for the Banks and Financing Companies has been Amended by the CBRT

The Article 6/Subparagraph 3 of The Communiqué on Mandatory Reserves has been amended by the Central Bank of the Republic of Türkiye (“CBRT”) with the “Communiqué No. 2022/24 Amending the Communiqué No. 2013/15 on Mandatory Reserves” which has published and entered into force with the Official Gazette dated 20 August 2022 and numbered 31929. As per this amendment, for the assets subject to reserve requirements, it has been regulated that the reserve requirement ratios to be provided for the CBRT will be applied as 0 percent for the banks and 20 percent for the financing companies.

Following the amendment, the reserve requirement ratio to be provided for the CBRT has been lowered from 10 percent to 0 percent for the banks, while the reserve requirement ratio for the financing companies has been raised from 10 percent to 20 percent. The amendment will come into force at the date of 16 September 2022.

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