Turkish banking watchdog limits banks' forex swap transactions
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[ISTANBUL] Turkey's banking watchdog BDDK said on Sunday it was cutting the limit for Turkish banks' forex swap, spot and forward transactions with foreign entities to 10 per cent of a bank's equity.
The BDDK had previously set the limit at 25 per cent in August 2018.
In a statement, the BDDK said the rate will be calculated daily and new transactions will not be performed or renewed until they have fallen to the new limit.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
