Turkey, Economy

Turkey eases swap limits with foreign lenders

Banking watchdog ups limits for lenders' swap, forward, option, and other derivative transactions with non-residents

Tuba Sahin   | 11.11.2020
Turkey eases swap limits with foreign lenders

ANKARA

Turkey's banking watchdog on Wednesday raised currency limits for swap, forward, option, and other derivative transactions that Turkish lenders execute with non-residents. 

The Banking Regulation and Supervision Agency said derivative transactions where banks pay Turkish liras and receive the short-term foreign exchange (FX) at the maturity date have been limited not to exceed 30% of the bank’s most recently calculated regulatory capital.

The decision was taken as part of a normalization process amid pandemic, the watchdog added.

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