More announcement from CBRT as Albayrak promised.
Below is full statement.
To support effective functioning of financial markets and flexibility of the banks in their liquidity management;
- Turkish lira reserve requirement ratios have been reduced by 250 basis points for all maturity brackets.
- Reserve requirement ratios for non-core FX liabilities have been reduced by 400 basis points for the following maturities.
| Other FX Liabilities | Current Reserve Requirement Ratios | New Reserve Requirement Ratios |
| Up to (and including) 1-year maturity | 24% | 20% |
| Up to (and including) 2-year maturity | 19% | 15% |
| Up to (and including) 3-year maturity | 14% | 10% |
- The maximum average maintenance facility for FX liabilities has been raised to 8 percent.
- In addition to US dollars, euro can be used for the maintenance against Turkish lira reserves under the reserve options mechanism.
With this revision, approximately 10 billion TL, 6 billion US dollars, and 3 billion US dollars equivalent of gold liquidity will be provided to the financial system.
