May 5, 2020 / 8:58 PM / 25 days ago

Turkish banking watchdog limits banks' lira transactions abroad

ISTANBUL, May 5 (Reuters) - Turkish banking watchdog said on Tuesday that it will limit banks’ Turkish currency placements, depo, repo transactions and loans with foreign financial institutions to 0.5% of their legal capital.

The decision was taken in order to meet the financing need of the public and private sectors as economic activity slowed amid coronavirus outbreak, the watchdog said in a statement. (Writing by Ezgi Erkoyun; Editing by Sandra Maler)

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