Turkish central bank steps in to calm markets in wake of coup attempt
Central bank promises banks unlimited liquidity
The Central Bank of the Republic of Turkey (CBRT) stepped in to calm markets on July 17, as a failed coup shook the country's political and economic foundations.
The CBRT promised to meet banks' liquidity needs "without limits", cutting its commission on intraday liquidity to zero and allowing banks to use foreign exchange deposits as collateral for access to Turkish lira liquidity. It said it would closely monitor market "depth and prices".
Markets plunged as elements within the Turkish armed
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