"Turkish Bank Raises Foreign Currency Reserve Ratio to Reduce Liquidity
By Steve Bryant - Jul 29, 2010 3:32 AM EDT Thu Jul 29 07:32:11 UTC 2010
Turkey’s central bank raised the foreign currency requirement that banks must deposit, reversing part of a step it took to increase liquidity during the global financial crisis.
The bank in Ankara raised the requirement to 10 percent for foreign currency loans from 9.5 percent, according to a directive published in the Official Gazette today. The increase will reduce foreign exchange liquidity by about $720 million, the bank said in an e-mailed statement."
More:Turkish Bank Raises Foreign Currency Reserve Ratio to Reduce Liquidity - Bloomberg