Turkish Central Bank Includes Non-Bank Financial Firms in Securities Regulation
Source: Chloe
The Turkish central bank has included non-bank financial companies in securities maintenance regulations as part of its "liraization strategy" which will be introduced in the New Year.
In addition to banks, other financial institutions - such as factoring companies which help firms manage their cash flow - were included in the regulations, according to the Official Gazette published on Saturday.
"The securities maintenance practice ... will ensure a balanced course in FX loans in line with the decline in foreign currency funding items," the central bank said in a statement.
(Source: Reuters)
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