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Monday, January 24, 2011

Turkey Tightens Bank Reserve Requirements to Curb Boom in Consumer Lending - Bloomberg

"Turkey Tightens Bank Reserve Requirements to Curb Boom in Consumer Lending
By Steve Bryant - Jan 24, 2011 1:47 PM GMT+0200

Turkey’s central bank increased the amount of reserves banks must set aside against liabilities, as it seeks to restrain a credit boom.

The bank raised the reserve ratio to 12 percent for immediate-access deposits and 10 percent for accounts with terms of up to one month, according to an e-mailed statement from Ankara today. It’s the second increase in two months. Both rates were previously 8 percent. "

More:Turkey Tightens Bank Reserve Requirements to Curb Boom in Consumer Lending - Bloomberg