Bloomberg News

Turkey Central Bank to Announce Minimum 1-Week Repo Funding Plan

November 25, 2011

Nov. 25 (Bloomberg) -- Turkey’s central bank will regularly announce the minimum funding it will provide banks via one-week repo at its benchmark rate of 5.75 percent to help banks’ liquidity management and funding cost estimates.

The central bank in Ankara will make the announcement every two weeks on a Friday, matching the period for banks’ reserve requirements, it said in an e-mailed statement today. The bank will lend a minimum of 20 billion liras for between Nov. 25 and Dec. 8, it said.

The bank said it may lend less than the minimum amount in case of “important changes in liquidity conditions.”

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net


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