Communique on Amendments to the Communique on Required Reserves (No: 2013/15) (No: 2026/7)
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This Turkish Central Bank regulation introduces a temporary macroprudential measure to curb excessive growth in consumer overdraft account (kredili mevduat hesabı) limits. If the growth rate of these credit limits exceeds 2% between the 27 March 2026 and 31 December 2026 calculation dates compared to the previous period, banks must hold the excess amount in Turkish lira as blocked required reserves. The reserve requirement begins two weeks after the calculation date on a Friday and lasts for 52 weeks. Banks meeting certain size or indicator thresholds set by the CBRT are exempt. Partial exemptions or reductions may also be applied according to CBRT rules. The goal is to moderate rapid expansion of consumer credit through overdraft facilities.
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Key Changes
- Introduces Temporary Article 17 effective from publication on 31 January 2026
- Banks must hold excess Turkish lira required reserves if overdraft limit growth exceeds 2% from 27/03/2026 to 31/12/2026 calculation dates
- Reserve maintenance period starts on the Friday two weeks after calculation date and ends on the 52nd week Thursday
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Obligations
What this law requires
Calculate the growth rate of consumer overdraft account (kredili mevduat hesabı) limits allocated to consumers between the 27 March 2026 calculation date and 31 December 2026 calculation date compared to the previous period, using calculation methods and procedures determined by the Central Bank of Turkey
If the growth rate of consumer overdraft account limits exceeds 2% between the specified calculation dates, establish blocked required reserves in Turkish lira for the amount exceeding the 2% threshold
Begin the establishment of blocked required reserves on the Friday occurring two weeks after each calculation date
Maintain blocked required reserves for a duration of 52 weeks, ending on the Thursday of the 52nd week following the establishment start date
Calculate growth rates every eight weeks on Fridays using the calculation methodology and procedures established by the Central Bank of Turkey