According to the news published by Central Bank of Republic of Turkey:

To strengthen the monetary transmission mechanism, support financial stability and bring out gold savings into the economy, within the scope of Reserve Option Mechanism;

• The upper limit of the facility of holding standard gold has been decreased from 30% to 20% of Turkish lira reserve requirements.
• The upper limit of the facility of holding standard gold converted from wrought or scrap gold collected from residents has been increased from 10% to 15% of Turkish lira reserve requirements.

By decreasing the upper limit of the facility of holding standard gold from 30% to 20% of Turkish lira reserve requirements, USD 1.7 billion equivalent of liquidity in terms of gold will be provided to the market, whereas TRY 4.5 billion liquidity will be withdrawn from the market.
By increasing the upper limit of the facility of holding standard gold converted from wrought or scrap gold collected from residents from 10% to 15% of Turkish lira reserve requirements,

USD 0.3 billion equivalent of liquidity in terms of gold will be withdrawn from the market, whereas TRY 2.0 billion liquidity will be provided to the market. However, the obligation to collect the wrought or scrap gold from residents will cause the effects appear gradually.

Source: Central Bank of Republic of Turkey / link: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Announcements/Press+Releases/2020/ANO2020-02
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

According to the news published by Central Bank of Republic of Turkey:

To support financial stability and the real loan growth-linked reserve requirement practice, the Central Bank of Republic of Turkey has decided to:

• increase reserve requirement ratios for FX deposits/participation funds by 200 basis points for all maturity brackets,
• apply these ratios 200 basis points lower for banks that comply with the TL real loan growth conditions to ensure that these banks are not affected by this increase.

As a result of these revisions, approximately USD 2.9 billion of FX liquidity will be withdrawn from the market.

The revised ratios will be effective from the calculation period of 27 December 2019 with the maintenance period starting on 10 January 2020.

Source: Central Bank of Republic of Turkey / link: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Announcements/Press+Releases/2019/ANO2019-52
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

According to the news of Hürriyet Daily News, the official reserves of the Central Bank of the Republic of Turkey (CBRT) reached $104.8 billion as of the end of November, the bank announced on December.

The November figure showed that total reserve assets rose 0.2 percent from the previous month.

Foreign currency reserves -in convertible foreign currencies- increased 0.4 percent to $76.9 billion during the same period.

Last month, the bank’s gold reserves- including gold deposits and, if appropriate, gold swapped- dropped 0.3 percent month-on-month to $26.5 billion.

On an annual basis, the CBRT’s official reserves jumped 15 percent, up from $91 billion at the end of November 2018.

Liability side 

Short-term predetermined net drains of the central government and CBRT — foreign currency loans, securities, and foreign exchange deposit accounts of residents abroad within the bank — posted a 8.9 percent monthly decrease in November, reaching $15.2 billion, the bank said.

“Of this amount, $10.4 billion were in principal repayments and $4.8 billion in interest repayments,” the bank said.

The CBRT also said the contingent short-term net drains on foreign currency amounted to $35.3 billion last month, down 3.3 percent from end-October.

Source: Hürriyet Daily News / link: http://www.hurriyetdailynews.com/turkish-central-bank-intl-reserves-at-104-8b-in-november-150345
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.