07 March 2020 – Lowered remuneration rates for required lira reserves

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Financial markets and monetary policy
Sectors Involved:
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Central Bank of the Republic of Turkey lowered remuneration rates for required reserves in liras.

Decreased from 10% to 8% for banks with loan growth that meets regulatory changes from August 2019.

Decreased to zero for banks whose real credit did not grow according to regulatory changes from August 2019.
Full details here: https://www.bloomberg.com/news/articles/2020-03-16/the-fed-and-friends-what-central-banks-did-in-past-24-hours