Communiqué on the Repeal of the Communiqué on Supporting the Conversion to Turkish Lira Deposit and Participation Accounts (No. 2026/1)
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This regulation officially repeals the 2021 Communiqué No. 2021/14 issued by the Central Bank of the Republic of Turkey (CBRT). The original 2021 communiqué had introduced incentive mechanisms and special reserve requirement advantages to encourage the conversion of foreign currency deposits into Turkish Lira time deposits and participation accounts. With this new Communiqué published on 24 January 2026, those support measures are completely abolished. The repeal takes effect on the date of publication. This marks the formal end of the FX-to-TL conversion support program that was a key part of Turkey’s monetary policy response to currency volatility in the early 2020s.
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Key Changes
- Complete repeal of Communiqué No. 2021/14 dated 21/12/2021
- Termination of all incentive mechanisms supporting FX-to-TL deposit conversion
- Elimination of related reserve requirement advantages for converted accounts
+ 2 more changes with Pro
Obligations
What this law requires
Cease application of Communiqué No. 2021/14 (issued 21 December 2021) regarding support for conversion to Turkish Lira deposits and participation accounts
Discontinue provision of incentive mechanisms that were introduced under the repealed 2021/14 Communiqué for converting foreign currency deposits into Turkish Lira time deposits
Discontinue application of special reserve requirement advantages that were granted under the repealed 2021/14 Communiqué
Implement the repeal effective immediately on the date of publication (24 January 2026)
The CBRT President is responsible for executing and enforcing the provisions of this Communiqué No. 2026/1