Amendments to the Communiqué on Securities Maintenance
The Communiqué Amending the Communiqué on Securities Maintenance (No: 2023/11) (Amendment) entered into force through publication in the Official Gazette dated 17.05.2023 and numbered 32193. With the Amendment, a temporary practice regarding banks’ securities maintenance obligation has been established based on the conversion rate for real person deposits:
- To be applied from the calculation date of 26.05.2023 until the calculation date of 28.07.2023, in case the additional conversion from real person foreign currency deposit/participation fund to Turkish lira deposit/participation accounts within the relevant calculation period is 10 percent below the additional conversion rate to be calculated by banks in accordance with the procedures and principles determined by the Central Bank of the Republic of Türkiye, securities worth the remaining amount will be blocked.
- As of the calculation date of 28.07.2023 and until the limit is reached, banks below 30 percent will block additional securities equal to 10 percent of the deposit/participation fund amount in the denominator of the additional conversion rate.
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