Central Bank of Turkey tells lenders to drop all euros from reserve holdings

euros100
euros

The Central Bank of the Republic of Turkey (CBRT) has told local lenders to rid their required reserves of €12.7 billion ($17.1 billion) following the single currency's recent drop in value.

The CBRT states on its website that "reserve requirements are maintained in terms of Turkish lira for Turkish lira liabilities and in terms of US dollar and/or euro for foreign exchange liabilities".

Since a few years back, however, the central bank operates a ‘reserve option mechanism' (ROM), which allows

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: