Financial law

Having provided nearly $7 billion in financing from international financial institutions in the second half of this year, Turkish lenders reaffirmed trust in their country and sector.

Normalization steps around the world and positive developments concerning the COVID-19 vaccine has boosted the global risk appetite.

The Finance Ministry is planning a new scheme for the settlement of outstanding debts to the state in 100 or 120 installments, fearing the accumulation of a new generation of arrears due to the health crisis.

In its most recent move to contribute to the well-functioning of markets, Turkey's banking watchdog on Nov. 30 raised the ceiling ratio of domestic banks' Turkish-lira transactions with foreign financial institutions to 2.5% of their equity.

The order of payment depends on the bank where you have an account, and there is a way to check if the money has been paid to you.

Covid-19 has changed }our lives for good. No one can say with certainty when the crisis will be over, when we'll finally be out of the woods. That moment is certainly still far away for the elderly and other high-risk individuals. However, the fear, if not the panic, that has gripped the great majority of society will linger for a long time. The risk of a second wave remains high. 

The government is planning to offer a subsidy for borrowers with housing loans secured against their main residence if it concerns individuals and entrepreneurs hurt by the coronavirus crisis, as an alternative to the main residence protection status which currently applies.

The decision to postpone the payment date of bills of exchange issued for sectors affected by the Covid-19 pandemic between March 30 and May 31 by 75 days has already started a chain of negative consequences in the market.

Eurobank has applied to take part in Greece's Hercules bad loan reduction scheme via a 7.5-billion-euro securitization, the country's third-largest bank said.
Banks in Greece have been working to reduce a pile of about 75 billion euros in bad loans, a legacy of a financial crisis that shrank the country's economy by a quarter.

After the strategic defaulters have been exposed, according to government planning, and the existing framework for the protection of borrowers' main residence has expired on April 30, truly vulnerable households will get a safety net if they cannot service their dues, so that they are not left on the street.

The new online platform for state debtors to have their dues arranged for settlement in 24 to 48 monthly installments will open on February 26.

As of that date, taxpayers who meet the requirements can join the new arrangement program that provides for twice as many tranches as the previous one, known as the standard settlement.