May 22, 2020 / 7:22 PM / 13 days ago

Clearstream to reinstate lira credit facilities from May 25

ISTANBUL, May 22 (Reuters) - Clearstream Banking said on Friday it will reinstate lira credit facilities for eligible customers, both for internal and domestic against payment settlement transactions in lira, from May 25.

Turkey’s BDDK banking regulator announced on Wednesday that it was exempting Euroclear Bank and Clearstream from recently imposed limits on lenders’ lira transactions with foreign financial institutions.

Clearstream said settlement in liras over the Bridge with Euroclear remained suspended until further notice.

Earlier this month, the BDDK limited banks’ Turkish currency placements, depo, repo transactions and loans with foreign financial institutions to 0.5% of their legal capital. (Reporting by Daren Butler; Editing by Leslie Adler)

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