ISTANBUL, April 30 (Reuters) - Turkey’s BDDK banking watchdog on Thursday detailed exceptions to its new asset ratio parameters for banks, which were meant to set a minimum level of lending and to boost credit in an economy hit hard by the coronavirus pandemic.
Under the new guidelines, it said development and investment banks banks will be excluded from the measure, along with banks under the Savings Deposit Insurance Fund.
The regulator added that banks with lower than a total of five billion lira ($715 million) worth of deposits in lira and foreign currencies will have until the end of the year to comply with the new regulation.
The other banks have a May deadline to ensure the sum of loans, 75% of securities portfolio and 50% of central bank swap balances exceed the sum of Turkish lira deposits and 125% of foreign currency deposits, according to the new regulation published earlier this month. ($1 = 6.9892 liras) (Reporting by Ali Kucukgocmen and Ebru Tuncay; Editing by Jonathan Spicer)
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