Emerging recovery in the economy with successive measures to reduce the risks explained. Following the decision the previous day's rate cut yesterday at the Central Bank's Banking Regulation and Supervision Agency (BRSA), and took the credit card as well as new decisions for housing loans.
The statement made by the Central Bank for the previous day, the current conjuncture of internal and external demand, growth rates of decomposition and increase the current account deficit, rapid credit expansion, which in turn brought about the risks to financial stability is emphasized. That is an increase in loans growth, rising consumption turns, which make imports is causing more companies to increase production.
GROWS ON CURRENT
The Central Bank noted in the description "quick-credit expansion" corresponds to the risk of BRSA, yesterday announced measures to slow down the growth rate of credit card and housing loans. Here are measures taken by the BRSA in loans for growth:
1 - Credit card minimum payment amount from 20% to 40% output
Credit card minimum payment amount to be drawn up to 40 percent. Card debt to pay 3 times less than half, unable to withdraw cash. Banking Regulation and Supervision Agency (BRSA), "Amending the Regulation on Bank Cards and Credit Cards" Regulation in the Official Gazette was published in yesterday's edition.
Regulation is applied as a credit card minimum payment amount is still 20 percent, can be upgraded to up to 40 percent.
Regulation, the minimum payment amounts were related to two separate arrangement. Multiples of existing credit cards with the new credit will be applied to different minimum payment requirements.
TIME OF COMPLIANCE WITH APPLICABLE
Accordingly, the minimum amount to be paid, your credit card limit credit cards of up to 15 thousand Turkish lira, about 25 percent of term debt, the limit of 15 thousand to 20 thousand Turkish Lira Turkish Lira-term debt on credit cards of up to 30, your credit card limit credit cards is over 20 thousand Turkish Lira and about 40 percent of term debt and use credit cards allocated to the new deadline of one year from the date of the beginning of the period until the debt can not be down 40 percent.
According to the amendment of the Regulation, except for credit cards will be the new minimum pay rates starting from today until the 24th month, according to credit card limits by at least 22 per cent increase up to 35 percent of the very process of envisioning an adjustment to be applied.
6 MONTHS AFTER THE CASH LIMIT
Regulation under the branches of another amendment through the appeals relating to the cancellation of the card, which at the time of receipt of this demand is the branch of a document signed by the authorities canceled or completed claim form must be an instance of the card holder was kept.
Credit card debt 3 times in a calendar year, less than half of term debt to be taken from the payer the right to withdraw cash. It also limits the period of credit cards to pay the entire debt artırılamayacak. Regulation, this clause will go into effect after 6 months, and other articles entered into force yesterday.
2 - The amount of the loan will not exceed 75% of the value of real estate
Banking Regulation and Supervision Agency (BRSA), on the banks' lending rates yükseldiğinin seen, to be effective from 1 January 2011 will the banks for housing loans, credit the amount of 75 per cent of the value of real estate, commercial real estate loans as collateral for purchase of the subject real estate value will not exceed 50 percent of the decided.
BRSA Chairman Tevfik Bilgin, the banking sector is important in the future of housing loans, said: "This is a matter of 2-3 months working on. Banks in this direction, taking into account the trend of healthy growth of this sector and we want to grow even more than the initial phase of home loans to the need to take this measure, we heard, "he said.
Bilgin, "The main reason for the crises in the world of all mortgage loans has a large majority. Once you start a business, not take measures that are important ", saying that they think will grow more robust measures in this sector was expressed.
The determination of this limit will be based on the statement made by BRSA also subject to collateral value of housing or commercial real estate valuation companies authorized by the BRSA or the CMB has been detected in the received information being given to the compulsory decision.
The Central Bank lowered interest rates on credit card
The Central Bank, the maximum interest rates apply to credit card transactions went to change. A statement, the Turkish lira denominated credit card transactions monthly maximum contractual interest rate applied to 2.26 per cent 'or the monthly maximum default interest rate of 2.76 per cent' were either reduced expression. To be effective from 1 January 2011 monthly maximum contractual interest rate applied to credit card transactions, for U.S. $ 2:02 per cent and 1.90 per cent for the euro, respectively.
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