CBRT cuts rates for primary dealers

central-bank-of-the-republic-of-turkey
The CBRT

The Central Bank of the Republic of Turkey has created a new liquidity facility that will allow primary dealers to access cheaper funding than that offered by the central bank’s main facility.

Primary dealers will be able to borrow at a rate of 23%, or 100 basis points below the policy rate. The new facility will be offered as an overnight repo, while the policy rate is a one-week repo.

The CBRT said the new facility was created “to support the primary dealership system in view of its

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