Following the BDDK decision which imposes currency restrictions on companies’ access to TL loans, some banks temporarily have stopped new loans today.
Following the decision of the Banking Regulation and Supervision Agency (BRSA), which prevents companies with more than a certain amount of cash foreign currency from accessing the new TL loan, some banks have stopped using the new TL loan until the details of the regulation becomes clear.
The BDDK has adopted a decision preventing companies subject to independent audit that have more than a certain amount of foreign currency cash in their hands from receiving new TL loans from banks. According to the board decision published by the BDDK on Friday, companies with foreign currency cash assets of about 900 thousand dollars for 15 million TL, (if they hold foreign currency cash assets over more than 10 percent of their assets or annual sales income) they will not be able to use cash commercial loans in TL.
BANKS ARE WAITING FOR DETAILS
Some officials from the sector have said banks have stopped loans currently and are waiting for the process to become clear with details in order to continue to make loans available
