ISTANBUL: Turkish Central Bank announced on Tuesday that it has revised the securities maintenance ratio to 5% from 3% and that further measures under its “reading strategy” will be taken in the rest of the year and in 2023 .
The central bank started promoting the conversion of foreign currency deposits into Turkish lira deposits as part of the strategy in December 2021, which led to an increase in the share of the lira on banks’ balance sheets.
He said in the statement that by the start of 2023, securities will be maintained based on Turkish lira deposit share targets, instead of the conversion rate.