Finance

Consultation and market-friendly approach message from Şimşek

BLOOMBERG HT/SPECIAL

During the meeting held between the Treasury and Finance Minister Mehmet Şimşek and the Banks Association of Turkey, it was learned that Şimşek gave market-friendly messages to the bank’s general managers.

According to the information obtained by Bloomberg HT, bank executives conveyed their views to Şimşek on both the regulations and the areas where monetary policy has been blocked recently. Şimşek, on the other hand, said that after listening to the opinions, they were preparing for the future policies to be formed within the framework of market rules for the solution of the problems.

Banks pointed to asset-liability mismatch

It was learned that the banks pointed to the cessation of the flow in the market due to the incompatibility in the asset and liability structure, while they were collecting deposits with 40 percent, they emphasized that the loan given with 15 percent was not sustainable.

It was emphasized that the Minister of Treasury and Finance Şimşek did not go into any technical details and said that they would provide the needed liquidity with the team to be established and the program to be created.

A solution will be produced in a way that does not kill growth

Mehmet Şimşek, who stated that the steps to be taken would be within the framework of logic and appropriately, said that they would produce solutions by acting together, not against the market players, without killing the growth.

Şimşek also emphasized that the economy management will work in coordination and that the political will has full support for the policy to be implemented.

It was learned that the bankers found Şimşek’s approach very positive and stated that they would support him with the calendar for returning from the applications that caused congestion in the system.

It was stated that the bank managers left the table with optimism that the problems would be resolved, and that although some areas may take time to be corrected, they attach great importance to the messages on the principles of “market-friendly practice” and “acting with consensus on regulations”.

Will meet with Erkan on Monday

The Banks Association of Turkey will meet with Hafize Gaye Erkan, newly appointed as the Chairman of the Central Bank of the Republic of Turkey, on Monday, following her meeting with Treasury and Finance Minister Mehmet Şimşek.

According to the information obtained by Bloomberg HT, the meeting will take place at 14.00.

It is stated that the bank executives will repeat the requests they conveyed to Şimşek at the meeting, and they will discuss the steps to be taken, especially the transformation targets, interest rate restrictions and macro-prudential measures for the loan market.

Thus, Erkan will have met with the bank executives for the first time after he was appointed as the President of the Central Bank of the Republic of Turkey.

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