Commission decision from the Central Bank on foreign currency reserve requirements

According to the decision sent to banks by the Central Bank of the Republic of Turkey and verified by Bloomberg, a commission will be applied to foreign currency reserve requirements within the scope of the TL conversion target. The TCMB will receive a 3 percent commission from the required profits of banks with low TL deposits. It was decided that the Central Bank of the Republic of Turkey will receive a commission from the foreign currency reserve requirements of banks with low TL deposits. Accordingly, a 3 percent commission will be charged annually from foreign currency reserve requirements, except for banks with TL deposits of legal entities and individuals over 50 percent. The Central Bank did not make any statements regarding the issue.