Turkey's banking regulator on Monday lowered the asset ratio calculation for deposit banks to 90% from 95% and for participation banks to 70% from 75%, in a bid to boost the lira.
The decision will be effective from Oct. 1, according to a statement by the Banking Regulation and Supervision Agency.
As a continuation of the normalization, the regulator noted, steps will be taken for the aforementioned board decisions promulgated during the pandemic period where uncertainties and risks in global markets increased.
This came at a time when the country is making efforts to lasso inflation and support price stability, trying to calm down the markets.
Last week, the Turkish Central Bank raised its benchmark rate.
For the first time since a currency crisis in late 2018, the bank raised its one-week repo rate -- also known as the bank's policy rate -- by 200 basis points, from 8.25% to 10.25%.
The asset ratio was introduced earlier this year to push financial institutions to step up lending, buy government bonds and engage in swap transactions with the central bank.
See all the news
Kazakhstan’s Share of Bitcoin Mining Increases Sixfold Surging to Third Place Worldwide
Israel Bans Travel In Georgia From July 30
Novartis Prostate Cancer Drug Receives U.S. FDA Breakthrough Designation
Mymarket-ის აპლიკაცია ჩაშვებულია!
The Success of 5 Georgian Wines at Sommeliers Choice Awards 2021
მანინო უწერა - ახალი სასტუმრო რაჭაში
სილამაზის ინდუსტრიის გამოწვევები და #AVON-ის ფინანსური მაჩვენებლები
Investors in Georgia discover that Ease of Doing Business rankings can be deceptive
Baia Kvitsiani to Replace Mariam Kvrivishvili In The Parliament
Who Is Vazil Hudak?
PM Appoints Vazil Hudak As A Special Advisor on Attracting FDI
Exclusive Follow-Up/Interview with Selim Cakir, IMF Representative in Georgia
Czech Development Agency Delegation to Visit Georgia
GNCC demands reversal of a transaction on which they don’t have a jurisdiction - Law Professor
ფარმადეპო: „მედიკამენტები 1 ლარად“ - ქეთი კოზმანაშვილი ქალების ნარატივში
Georgia amends transfer pricing rules for APAs, reduces thresholds
We paid for 100% of shares of Caucasus Online in 2019 - NEQSOL Holding
“Only the courts have the right to determine the legality of the purchase of Caucasus Online", - NEQSOL Holding
Top-10 Major Commodity Groups by Exports – what does Georgia sell abroad?