BLOOMBERG HT- SPECIAL
The Central Bank of the Republic of Turkey reversed the regulation, which included cash advance withdrawals from credit cards and purchase of jewelery by credit cards within the scope of securities facility, which it had made at the beginning of the week.
In accordance with the implementation order sent to the banks from the CBRT this morning, the regulation on securities established according to loan growth was also changed. In the previous regulation, in case of a growth of more than 3 percent, in the security establishment obligation for all loan types, “artisan loans (excluding jewelry expenditures and cash withdrawals), export loans, investment loans, agricultural loans, corporate credit cards, loans to financial institutions, loans to consumers, The MK liability for overdraft accounts and housing loans has been abolished with the new regulation.
After the first regulation, banks lowered the limits on their overdraft accounts and quickly put the brakes on loans.
Following this development, the Central Bank abolished these obligations for banks with its decision.