(MENAFN) Turkey's central bank announced on Saturday the implementation of a plan to reduce reserve requirement ratios, aiming to increase liquidity within local markets.
In a statement, the Central Bank of the Republic of Turkey (CBRT) affirmed "Turkish lira reserve requirement ratios have been reduced by 100 basis points for deposits and participation funds with maturities up to 1-year, and for other liabilities with maturities up to (and including) 3-year."
"And by 50 basis points for all other liabilities subject to reserve requirements," stressed the Turkish central bank.
It added: "furthermore, the upper limit of the facility of holding standard gold converted from wrought or scrap gold collected from residents has been increased from 5 percent to 10 percent of Turkish lira reserve requirements."
MENAFN1602201900450000ID1098128825
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.