According to the weekly bulletin published by the Banking Regulation and Supervision Agency (BDDK), inflows to Currency Protected Deposits (KKM) reached the highest level in 16 weeks with 21.2 billion liras.
Total deposits in Currency Protected Deposit accounts increased by 1.53 percent in the week of January 27. The total size of KKM was 1.41 trillion liras.
Last week, the interest limit on CBRT-side accounts was lifted at KKM.
A critical step has been taken from the CBRT in exchange-protected deposits. In the letter sent from the CBRT to the banks, the maximum interest rate to be applied to time deposit accounts opened by banks is determined by the one-week repo auction interest rate determined by the CBRT. under It was stated that it can be determined by the banks provided that it is not.
In exchange-protected deposits, an upper limit of 3 points was applied to the interest rate above the policy rate. While the CBRT policy rate was at the level of 9 percent, there was an upper limit of 12 percent in the interest rate on exchange-protected deposits.
Çakar: Interest rate may rise to 15-17
Alpaslan Çakar, President of the Banks Association of Turkey (TBB) and General Manager of Ziraat Bank, participated in the Bloomberg HT broadcast to evaluate the developments in the agenda of the sector, and after the Central Bank of the Republic (CBRT) removed the upper limit for the interest rate on currency-protected deposits, the interest rate here was reduced to 15-17 percent. He said he could go.
Çakar noted that approximately 1 trillion TL of the 1.4 trillion TL size in the KKM was sided with the CBRT.
Deposits increased by 8 per thousand
On the other hand, in the week of January 27, total deposits in the banking sector (including interbank) increased by 71 billion 474 million liras last week. The total deposits of the banking sector, which increased by 0.8 percent in the aforementioned week, became 9 trillion 191 billion 911 million liras.