ISTANBUL, Aug 19 (Reuters) - Turkey’s Central Bank said on Monday that it had changed the ratio of and remuneration applied to required reserves, with the intention of using reserve requirements more flexibly and effectively.
For banks with 10-20% loan growth, the reserve requirement ratios for Turkish lira liabilities will be set at 2%, it said.
The new measure excludes deposits and participation funds with 1-year or longer maturity and other liabilities with longer than a 3-year maturity, the bank said, adding that reserve requirement ratios for other banks remain unchanged.
It raised the remuneration rate for lira-denominated required reserves to 15% from 13% for banks with 10-20% loan growth rate, and set it at 5% for other banks.
The loan growth rate will be calculated in each reserve requirement period and banks within the 10-20% rate will be subject to the related requirements for the following three months, the central bank said. (Reporting by Ali Kucukgocmen Editing by Dominic Evans)
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