The Turkish central bank has included non-bank financial companies in securities maintenance regulations as part of its 'liraization strategy' which will be introduced in the New Year.
Turkey's Central Bank headquarters is seen in Ankara, Turkey in this January 24, 2014 file photo. REUTERS/Umit Bektas
ANKARA, Dec 31 - The Turkish central bank has included non-bank financial companies in securities maintenance regulations as part of its "liraization strategy" which will be introduced in the New Year. In addition to banks, other financial institutions - such as factoring companies which help firms manage their cash flow - were included in the regulations, according to the Official Gazette published on Saturday.
"The securities maintenance practice ... will ensure a balanced course in FX loans in line with the decline in foreign currency funding items," the central bank said in a statement.Our Standards: