Turkish Central Bank raises loan growth limits

Résumé détaillé

The Turkish Central Bank has raised growth limits for selected consumer and corporate loans, the bank said in a statement.

The Turkish Central Bank has raised the growth limits for certain loans.

The Turkish Central Bank has raised growth limits for selected consumer and corporate loans, the bank said in a statement.

The bank said the measures were designed to support macrofinancial stability and strengthen the monetary transmission mechanism.

The eight-week growth limit for general-purpose consumer loans was increased to 3.5 percent from 3 percent. The limit for vehicle loans extended to consumers was also raised to 3.5 percent from 3 percent.

For Turkish Lira loans extended to small and medium-sized enterprises, the limit was increased to 5.5 percent from 5 percent.

The corresponding limit for lira-based loans extended to non-SME companies was raised to 2.5 percent from 2 percent.

The Central Bank also decided to provide lira remuneration on required reserves maintained by banks and financing companies for non-deposit liabilities denominated in liras and foreign currencies with maturities of more than one year.

Iraqi Prime Minister Ali AlZaidi ordered an investigation into allegations of oil smuggling involving an Iranbacked armed group, state media reported on Nov. 11, as tension between the faction and the government grows.

The Turkish Central Bank has raised growth limits for selected consumer and corporate loans, the bank said in a statement.

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