BRSA: Repayment periods of individual loans shorten to support the lira

BRSA shortened debt repayment periods for consumers. According to this; The repayment period of loans over 100K lira ($5,822) has been reduced to 12 months; The payment period for loans from 50K lira to 100K lira has been determined as 24 months.

For credit cards with a limit of 25K lira or less, the monthly minimum payment amount will be determined as 20% of the monthly balance; For higher limit cards, the minimum amount is set as 40% of the monthly bill.

The BRSA said that new, additional steps will be taken rapidly to channel commercial loans to “productive” areas.

On the other hand, within the scope of ongoing studies;

Differentiation of the loan value ratio in housing loans on the basis of amount,

Directing loans to productive areas such as investment and export in order to develop a selective approach, especially commercial loans,

Increasing the risk weight of loans to be extended to legal entities performing derivative transactions with non-residents,

Necessary steps will be taken immediately to introduce dedicated swap facilities to non-residents.

The decisions of the Treasury and BRSA are based on a general perspective such as supporting liraization and preventing movements towards dollarization. Measures for credit growth are aimed at restraining the consumption side due to the continuation of the rise in imports and the effects of the current account deficit. At the same time, in the direction of efficient use of loans, on the side of address loans, investment tendencies are desired to be emphasized more than consumption. In the consumer loans phase, the current-adjusting effect of the excess consumption effect and the use of individual loans on foreign exchange purchases, etc. We can consider it within the scope of macro precautionary measures.

On the other hand, there was a restriction on swap transactions for foreigners. With the dedicated swap, this opportunity is expanded and a flexible ground is created. There are no details here yet, but if there are attractive elements in the details, there may be a good opportunity for external financing.

In a separate CMB statement, it was stated that if 20% of the total allocated shares are sold to foreign investors, the fees of the Capital Markets Board for the initial public offering will be reduced by 50%. With the reductions in the participation of foreigners in public offerings in Turkey, it is aimed to increase the foreign share in the stock market again.

If 40% of the shares are sold to foreigners, the fee reduction will be 90%; The board will give priority to such proposals.

Fees will be zero in public offerings abroad; All other issuances abroad will receive a 50% The Board says that the measures follow the new economy steps of the Treasury Department and aim to encourage financing from abroad.

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