Turkish C.Bank may revise required reserve ratios up

The required reserve ratio for banks foreign currency deposits is currently set at 11 percent in Turkey.

Turkish C.Bank may revise required reserve ratios up


Turkish Central Bank may opt to revise required reserve ratios for foreign currencies deposits in case such adjustment was called for in the future, the bank's governor has said.

Appearing in a press meeting on Monday on the Turkish Central Bank's monetary and currency policy for 2011, Governor Durmus Yilmaz said the upward adjustment in required reserve ratios hinged on domestic and foreign developments in economy in the new year.

Yilmaz said revisions in the ratios might vary in line with different maturities, calling for coordination between bodies in measures to be taken to tighten credit conditions and to strengthen the effectiveness and flexibility of the monetary policy.

The required reserve ratio for banks foreign currency deposits is currently set at 11 percent in Turkey.

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Last Mod: 21 Aralık 2010, 13:58
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