Turkish Central Bank

Fees bank can charge clients reduced

The range and the levels of fees and commissions that local banks can charge retail and commercial clients have been lowered, the Turkish Central Bank and the country's banking watchdog regulator (BDDK) have announced.

The measures will cut the various charges banks can charge financial consumers to 16 from 20, the BDDK said.

FX reserve requirement practice, ratios revised

The Turkish Central Bank on Dec. 28 revised Foreign Exchange reserve requirement practice and ratios in order to support financial stability and the real loan growth-linked reserve requirement practice, the bank said in a statement. 

The bank has decided to raise reserve requirement ratios for FX deposits/participation funds by 200 basis points for all maturity brackets, it added.