(MENAFN)The Central Bank of the Republic of Turkey (CBRT) changed on Friday its rules on reserve obligations to expand the efficiency of the financial transmission system in the state.
It had settled on employing the same reserve obligation ratios and payment rates to all banks, also tip over the previous practice of connecting reserve obligation ratios and payment rates to actual loan growth rates, the CBRT stated. The bank declared that "As a result of these changes,
required reserves of the banking system is expected to increase by approximately 12.3 billion Turkish liras [USD1.57 billion] and USD5.7 billion in FX and gold, should the reserve option utilization rates remain unchanged."
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