Published in the Official Gazette and implemented from the date of January 7, 2011 with the Turkish lira liabilities Mandatory Provisions Pertaining to the required reserve ratio will change from 5 to 8 percent. This rate, foreign currency liabilities as 11 percent will continue to apply.
This new legislation required reserve ratios as of January 7, 2011 will be as follows:
Turkish lira liabilities:
-Demand, notice deposits and current accounts special: 8 percent
-1 up to month term deposits, accounts of participation (1 month included): 8 percent
-3 months time deposits, participation accounts (including 3 months): 7 per cent
-6 months time deposits, participation accounts (including 6 months): 7 per cent
-1 year term deposits, accounts of participation: 6 percent
-1 year, and long-term deposits less than 1 year, cumulative deposits with sharing accounts, accounts of participation: 5 Percent
-Deposits, other than participation fund liabilities: 8 percent
-Special fund pools corresponding to the maturity of 7 percent and 5 percent
Foreign currency liabilities: 11 percent
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