Tech

The Central Bank Will Set the Interest Rate for Currency Protected Accounts

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The Central Bank of the Republic of Turkey was given the authority to set interest rates on foreign currency-protected TL deposit accounts. The authorization, which also applies to accounts converted from gold, is somewhat confusing.

There has been a new development regarding the currency protected TL deposit accounts, which have been in our lives for a while. Official newspaperA new authority was given to the Central Bank of the Republic of Turkey with a communiqué in today’s issue of . With this authority, the Central Bank will set the maximum interest rate that banks will charge..

According to the information in today’s issue of the Official Gazette, the Communiqué on Supporting the Conversion of Turkish Lira Deposit and Participation Accounts to article 4 A new paragraph has been added. This paragraph”The Central Bank decides to determine the maximum interest rate that the bank will apply to the deposit account. is authorized.consists of “.

It will also apply to gold accounts.

Currency protected TL deposit accounts

The same paragraph we have just mentioned is also applicable to the Communiqué on Supporting the Conversion from Gold Accounts to Turkish Lira Deposit and Participation Accounts published in the Official Gazette numbered 31704. added. With this addition, the Central Bank’s authority to set interest rates also applies to currency-protected TL deposit accounts converted from gold. valid it happened.

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Some of the authority given to the CBRT confusing We have to point out that. So much so that when the application in question first entered our lives “In TL conversion accounts An interest rate cannot be determined below the policy rate..Now, the Central Bank has been authorized to set interest rates. With this change, will it be announced whether the policy rate will fall below the policy rate or the interest rate exceeding the expectations? net not

Source :
https://www.indyturk.com/node/466551/haber/kur-korumal%C4%B1-mevduat-sisteminde-merkez-bankas%C4%B1%E2%80%99na-faiz-yetkisi

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