August 29, 2018 / 6:31 AM / a month ago

Turkish central bank doubles banks’ borrowing limits for overnight transactions

ISTANBUL (Reuters) - Turkey’s Central Bank said on Wednesday it was doubling banks’ borrowing limits for overnight transactions from levels which applied before August 13, when it said it would provide all liquidity the banks needed.

FILE PHOTO: A logo of Turkey's Central Bank (TCMB) is pictured at the entrance of the bank's headquarters in Ankara, Turkey April 19, 2015. REUTERS/Umit Bektas/File Photo

“In the light of recent evaluations, the CBRT has decided that, to be effective from 29 August 2018, the banks’ borrowing limits for overnight transactions at the Interbank Money Market established within the CBRT would be twice the limits applicable before 13 August 2018,” it said in a statement.

Reporting by Ali Kucukgocmen; Editing by Dominic Evans

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